Adani Ports & Special Economic Zone Ltd logo

Adani Ports & Special Economic Zone Ltd

ADANIPORTS NSE

Adani Ports & Special Economic Zone is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to Port at Mundra.

AI Verdict: BUY Confidence: 7%

Adani Ports trades at a PE of 32.9x which is elevated but supported by strong 27% TTM revenue growth, consistent 21% profit CAGR over 5 years, and near-unanimous analyst consensus with 96% buy ratings. The stock offers a compelling growth story in India's port infrastructure buildout, though valuation and governance risks warrant monitoring.

Key Fundamentals

LargecapPort & Port ServicesTransport
Market Cap
4.2L Cr
Volatility
Moderate
P/E Ratio
31.27
EBITDA
₹24,970 Cr
Return on Equity
15.69%
Debt to Equity
0.72
Book Value
₹416.5
EPS
₹46.34
52W High
₹1,857.8
52W Low
₹1,290.5

Technical Indicators

Key Insights

Strengths

2
  • Company has delivered good profit growth of 21.0% CAGR over last 5 years
  • Company's median sales growth is 20.3% of last 10 years

Weaknesses

2
  • Stock is trading at 4.35 times its book value
  • Tax rate seems low

Growth Rate

Revenue Growth
26.16% ↗
Net Income Growth
15.56% ↗
Cash Flow Change
18.17% ↗
ROE
-24.15% ↘
ROCE
-16.97% ↘
EBITDA Margin (Avg.)
-2.64% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 1d ago
BUY
Risk medium

Adani Ports trades at a PE of 32.9x which is elevated but supported by strong 27% TTM revenue growth, consistent 21% profit CAGR over 5 years, and near-unanimous analyst consensus with 96% buy ratings. The stock offers a compelling growth story in India's port infrastructure buildout, though valuation and governance risks warrant monitoring.

Bull Case 8
  • Overwhelming analyst consensus with 96% buy ratings (24 out of 25 analysts recommend buy)
  • Robust revenue growth with 27% TTM compounded sales growth and 25% CAGR over 5 years
  • Strong profit compounding at 21% CAGR over 5 years, demonstrating operating leverage
  • Consistent ROE of 16-18% over the last decade indicates efficient capital allocation
  • Stock CAGR of 35% over 1 year reflects strong momentum and re-rating by the market
  • Median sales growth of 20.3% over last 10 years shows long-duration structural growth runway in port logistics
  • Market cap of Rs 4.23 lakh crore provides institutional liquidity and index inclusion benefits
  • 10-year stock CAGR of 25% demonstrates sustained long-term wealth creation track record
Bear Case 8
  • PE ratio of 32.9x is expensive for an infrastructure services company, pricing in significant future growth
  • Price-to-book of 4.39x is elevated and indicates limited margin of safety at current levels
  • Dividend yield of just 0.41% offers minimal income cushion during market downturns
  • TTM profit growth of 15% has decelerated sharply versus 27% 3-year CAGR, suggesting margin pressure
  • Low tax rate flagged as a concern — normalization could compress net margins by 200-400 bps
  • ROE has declined from 18% (3-year average) to 16% (last year), signaling potential return dilution from aggressive capex
  • Adani Group governance and related-party transaction risks remain an overhang post-Hindenburg report
  • Concentration risk with single promoter group holding significant stake limits free float and increases event risk

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Positives 3
  • Cargo volume up 16% YoY Jun 02

    Adani Ports handled 48.3 MMT cargo in May 2026, up 16% YoY driven by liquids and containers. However, logistics rail volume declined 19% YoY.

  • $70M Argentina LNG contract won Jun 09

    APSEZ secured a 10-year marine services contract worth $70 million for Argentina's first LNG export to India, starting September 2027. Marks the company's entry into South America.

  • New shipping subsidiary launched Jun 05

    Adani Ports incorporated a new shipping subsidiary to expand global marine and offshore operations, diversifying beyond core port and logistics business.

Neutral 4
  • Rs 512 Cr block trades executed Jun 24

    Block trades worth Rs 512.29 crore on NSE and BSE, with BSE trade at Rs 484.24 crore (~27.13 lakh shares at Rs 1785) indicating substantial institutional participation.

  • Investor roadshow in Asia Jun 10

    Adani Ports scheduled investor meetings in Hong Kong and Singapore from June 17-19, 2026, including a Non-Deal Roadshow and HSBC India Corporate Day Conference.

  • Dividend record date set Jun 12 May 27

    Record date fixed as June 12, 2026 for FY26 final dividend eligibility, subject to AGM approval on June 24, 2026.

  • BRSR filed for FY26 May 29

    Adani Ports filed its Business Responsibility and Sustainability Report for FY26, disclosing ESG performance and safety metrics.

TL;DR: Adani Ports is executing well on growth with 16% YoY cargo volume expansion and strategic international diversification through the Argentina LNG contract and new shipping subsidiary. No material headwinds emerged in the recent news cycle, and large block trades suggest continued institutional interest. The risk to watch is the 19% decline in rail logistics volume. Overall trend is positive with expanding global footprint and strong operational momentum heading into FY27.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
5,797
6,248
6,646
6,920
6,896
7,560
7,067
7,964
8,488
9,126
9,167
9,705
10,738
Expenses
2,526
2,558
2,982
2,724
2,887
2,820
2,700
3,161
3,482
3,631
3,827
3,919
4,718
Operating Profit
3,271
3,689
3,664
4,196
4,009
4,739
4,367
4,802
5,006
5,495
5,340
5,786
6,020
OPM %
56%
59%
55%
61%
58%
63%
62%
60%
59%
60%
58%
60%
56%
Other Income
-885
384
351
507
-70
349
254
247
426
453
837
189
900
Interest
623
633
520
976
619
484
659
923
715
846
1,223
980
1,605
Depreciation
846
950
974
985
979
1,012
1,077
1,106
1,185
1,255
1,264
1,384
1,615
PBT
917
2,491
2,521
2,741
2,341
3,593
2,885
3,020
3,532
3,848
3,690
3,611
3,700
Tax %
-24%
15%
30%
19%
14%
14%
16%
17%
14%
14%
15%
16%
11%
Net Profit
1,139
2,119
1,762
2,208
2,015
3,107
2,413
2,518
3,023
3,311
3,120
3,043
3,308
EPS in Rs
5.36
9.79
8.09
10.22
9.44
14.41
11.32
11.67
13.95
15.34
14.39
13.25
14.45
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
6,152
7,109
8,439
11,323
10,925
11,873
12,550
17,119
20,852
26,711
30,475
38,736
Expenses
2,250
2,532
3,021
4,166
4,330
5,926
3,862
7,591
9,905
11,121
12,054
15,868
Operating Profit
3,902
4,577
5,418
7,157
6,596
5,947
8,688
9,528
10,947
15,589
18,421
22,868
OPM %
63%
64%
64%
63%
60%
50%
69%
56%
52%
58%
60%
59%
Other Income
686
730
1,037
844
1,289
1,928
1,967
1,832
327
671
1,800
2,152
Interest
1,175
1,124
1,116
1,579
1,385
1,951
2,255
2,544
2,363
2,733
2,813
4,654
Depreciation
912
1,063
1,160
1,188
1,373
1,680
2,107
3,099
3,425
3,888
4,379
5,517
PBT
2,501
3,119
4,179
5,234
5,126
4,244
6,292
5,717
5,487
9,639
13,030
14,849
Tax %
7%
9%
7%
30%
21%
11%
20%
13%
2%
16%
15%
14%
Net Profit
2,324
2,856
3,902
3,690
4,045
3,785
5,049
4,953
5,391
8,104
11,061
12,782
EPS in Rs
11.18
13.99
18.89
17.74
19.27
18.52
24.58
23.13
24.58
37.55
51.35
55.58
Div. Payout %
10%
8%
7%
11%
1%
17%
20%
22%
20%
16%
14%
13%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
414
414
414
414
414
406
406
422
432
432
432
461
Reserves
10,351
13,091
17,112
20,489
23,958
25,051
30,035
41,399
44,957
52,346
61,837
95,498
Borrowings
17,776
22,342
22,214
22,370
27,712
30,242
35,855
47,935
53,434
49,470
51,621
63,566
Other Liabilities
3,541
2,538
3,629
3,960
4,228
6,217
8,285
8,572
13,740
14,751
19,553
23,574
Total Liabilities
32,082
38,385
43,369
47,233
56,311
61,917
74,582
98,328
1,12,563
1,16,999
1,33,443
1,83,099
Fixed Assets
20,527
20,883
21,054
22,670
28,121
32,715
48,291
62,553
72,224
75,148
89,616
1,31,652
CWIP
1,276
1,967
4,514
4,545
4,483
3,216
3,697
4,023
6,637
10,936
11,706
12,689
Investments
260
545
1,161
1,079
782
1,178
2,236
3,161
7,432
4,289
4,659
5,449
Other Assets
10,020
14,990
16,641
18,938
22,924
24,808
20,358
28,591
26,271
26,627
27,461
33,308
Total Assets
32,082
38,385
43,369
47,233
56,311
61,917
74,582
98,328
1,12,563
1,16,999
1,33,443
1,83,099
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
3,057
2,381
4,063
5,608
6,029
7,402
7,556
10,420
11,900
15,018
17,226
20,356
Investing
-2,485
-4,153
-2,629
-3,846
-4,368
-749
-14,064
-5,493
-16,716
-6,947
-9,788
-13,191
Financing
-237
2,170
-1,325
-1,889
2,313
-4,256
3,514
-586
-2,734
-7,800
-6,916
-5,483
Net Cash Flow
335
398
109
-127
3,975
2,397
-2,994
4,341
-7,550
271
523
1,682
Free Cash Flow
1,828
270
315
2,910
3,143
3,843
5,208
6,774
2,962
7,628
9,228
5,074
CFO/OP
91
68
88
92
108
139
97
119
116
104
101
96
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
76
125
116
139
93
98
85
54
69
50
53
60
Cash Conversion Cycle
76
125
116
139
93
98
85
54
69
50
53
60
Working Capital Days
29
-116
107
219
-74
-6
-5
-85
-56
-101
-114
-33
ROCE %
14%
13%
14%
17%
14%
12%
14%
11%
10%
13%
15%
14%

Shareholding Pattern

As of Mar 2026
Promoters 68.02%
DIIs 13.85%
FIIs 13.25%
Public 3.88%
Others 1.00%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Feb 2022Mar 2022Jun 2022Sep 2022Oct 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
63.74%
63.79%
63.83%
63.83%
65.04%
65.54%
66.02%
66.02%
64.56%
65.13%
61.03%
62.89%
65.53%
65.89%
65.89%
65.89%
65.89%
65.89%
65.89%
65.89%
65.89%
68.02%
68.02%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
14.98%
15.19%
15.22%
13.94%
13.43%
13.52%
13.61%
13.10%
13.25%
DIIs
14.79%
14.80%
15.79%
15.85%
15.29%
15.30%
15.03%
15.07%
15.03%
14.48%
12.70%
12.45%
13.28%
11.85%
11.83%
12.48%
13.26%
14.20%
14.73%
15.14%
15.03%
13.89%
13.85%
Government
0.07%
0.03%
0.03%
0.03%
0.03%
0.03%
0.03%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
2.73%
4.13%
3.67%
3.53%
3.35%
3.27%
3.61%
3.47%
4.01%
4.11%
5.40%
5.02%
4.72%
4.71%
4.71%
5.34%
4.56%
4.82%
4.82%
4.38%
4.38%
4.00%
3.88%
Others
18.66%
17.25%
16.68%
16.76%
16.29%
15.86%
15.32%
15.42%
16.39%
16.27%
20.86%
19.64%
16.46%
17.55%
2.59%
1.10%
1.07%
1.14%
1.13%
1.07%
1.09%
0.99%
1.00%
No. of Shareholders
4,05,935
7,16,271
6,16,114
6,22,237
6,27,910
6,26,791
7,27,228
7,33,142
7,33,148
7,32,360
10,98,600
10,24,110
9,44,166
9,70,247
9,91,001
12,74,010
11,86,670
12,53,860
12,62,910
11,85,340
11,66,910
11,66,920
10,95,770

Documents

Frequently Asked Questions about Adani Ports & Special Economic Zone Ltd

What does Adani Ports & Special Economic Zone Ltd do?
Adani Ports & Special Economic Zone is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to Port at Mundra.
Where is Adani Ports & Special Economic Zone Ltd (ADANIPORTS) listed?
Adani Ports & Special Economic Zone Ltd is listed on the Indian stock exchanges. It is listed on NSE: ADANIPORTS and BSE: 532921. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Adani Ports & Special Economic Zone Ltd belong to?
Adani Ports & Special Economic Zone Ltd operates in the Services sector within the Transport Infrastructure industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Adani Ports & Special Economic Zone Ltd?
Adani Ports & Special Economic Zone Ltd has a market capitalisation of approximately ₹421371.08 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Adani Ports & Special Economic Zone Ltd?
The Price-to-Earnings (PE) ratio of Adani Ports & Special Economic Zone Ltd is 31.27. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Adani Ports & Special Economic Zone Ltd?
Over the past 52 weeks, Adani Ports & Special Economic Zone Ltd has traded between a low of ₹1,290.5 and a high of ₹1,857.8. This range helps investors understand the stock's price volatility and recent trading levels.
Does Adani Ports & Special Economic Zone Ltd pay dividends?
Yes, Adani Ports & Special Economic Zone Ltd has a dividend yield of 0.41%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Adani Ports & Special Economic Zone Ltd?
Adani Ports & Special Economic Zone Ltd has a Return on Equity (ROE) of 15.69%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Adani Ports & Special Economic Zone Ltd on Tapetide?
On Tapetide, you can view Adani Ports & Special Economic Zone Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Adani Ports & Special Economic Zone is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to Port at Mundra.

Website adaniports.com
CEO Mr. Ashwani Gupta
Employees 3,118
Listed 2007-11-27
Face Value ₹ 2
Issued Size 2,16,01,38,945

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