Adani Ports & Special Economic Zone Ltd (IN:ADANIPORTS)
:ADANIPORTS
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Adani Ports & Special Economic Zone Ltd
(ADANIPORTS)
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Rating:74Outperform
Price Target:
₹1,555.00
▲(5.55% Upside)
Action:ReiteratedDate:02/04/26
The score is driven primarily by strong financial performance—high margins, solid ROE, and robust cash generation—offset by only moderate technical conditions (uptrend but weakening momentum signals) and a less compelling valuation (P/E 24.3 with a low dividend yield).
Positive Factors
High Profitability
Very high gross and net margins signal durable pricing power and operational efficiency in core port and terminal activities. Sustained margin levels support internal funding for maintenance capex and strategic expansion, preserving earnings resilience across business cycles.
Negative Factors
Free Cash Flow Variability
Variability in free cash flow and the observed EBITDA margin dip point to potential volatility from cost pressures or capex timing. Persistent variability can constrain discretionary investments, slow deleveraging, or force higher external financing during adverse periods.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Very high gross and net margins signal durable pricing power and operational efficiency in core port and terminal activities. Sustained margin levels support internal funding for maintenance capex and strategic expansion, preserving earnings resilience across business cycles.
Read all positive factors
Adani Ports & Special Economic Zone Ltd (ADANIPORTS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.33T
Dividend Yield0.47%
Average Volume (3M)157.20K
Price to Earnings (P/E)26.2
Beta (1Y)1.31
Revenue Growth24.80%
EPS Growth21.95%
CountryIN
Employees3,129
SectorServices
Sector StrengthN/A
IndustryMarine Shipping
Share Statistics
EPS (TTM)14.60
Shares Outstanding2,303,959,000
10 Day Avg. Volume197,182
30 Day Avg. Volume157,200
Financial Highlights & Ratios
PEG Ratio0.78
Price to Book (P/B)4.06
Price to Sales (P/S)8.33
P/FCF Ratio27.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,950.00Price Target Upside32.36% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)69.02
Revenue Forecast (FY)₹448.26B
Adani Ports & Special Economic Zone Ltd Business Overview & Revenue Model
Company Description
Adani Ports and Special Economic Zone Limited, together with its subsidiaries, develops, operates, and maintains port infrastructure facilities in India. It also engages in the ports related infrastructure development activities; and development o...
How the Company Makes Money
APSEZ primarily makes money by charging customers for using its port and logistics infrastructure and for value-added services around cargo movement. Key revenue streams typically include: (1) Port and terminal services: fees and tariffs for handl...
Adani Ports & Special Economic Zone Ltd Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
80
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 347.46B | 304.75B | 267.11B | 208.52B | 171.19B | 125.50B |
| Gross Profit | 216.53B | 202.19B | 175.25B | 138.81B | 113.94B | 86.05B |
| EBITDA | 206.95B | 180.93B | 156.64B | 126.52B | 103.66B | 79.02B |
| Net Income | 119.58B | 110.92B | 81.11B | 53.09B | 48.86B | 49.94B |
Balance Sheet | ||||||
| Total Assets | 1.47T | 1.35T | 1.19T | 1.15T | 996.86B | 754.64B |
| Cash, Cash Equivalents and Short-Term Investments | 111.29B | 60.98B | 49.81B | 63.53B | 93.24B | 58.31B |
| Total Debt | 568.51B | 514.54B | 491.67B | 532.68B | 473.54B | 350.43B |
| Total Liabilities | 775.00B | 703.59B | 643.75B | 678.46B | 573.05B | 433.90B |
| Stockholders Equity | 670.78B | 624.35B | 529.45B | 455.56B | 419.88B | 306.08B |
Cash Flow | ||||||
| Free Cash Flow | 30.41B | 91.77B | 76.01B | 28.08B | 60.51B | 52.04B |
| Operating Cash Flow | 95.03B | 172.26B | 150.18B | 119.33B | 98.00B | 75.56B |
| Investing Cash Flow | -99.56B | -97.87B | -69.47B | -196.04B | -52.82B | -141.43B |
| Financing Cash Flow | 4.21B | -69.16B | -78.00B | -27.34B | -5.86B | 35.14B |
Adani Ports & Special Economic Zone Ltd Technical Analysis
Positive
1473.25
Price Trends
1449.22
Positive
1464.99
Negative
1432.81
Positive
Market Momentum
-17.89
Negative
56.10
Neutral
79.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ADANIPORTS, the sentiment is Positive. The current price of 1473.25 is above the 20-day moving average (MA) of 1376.48, above the 50-day MA of 1449.22, and above the 200-day MA of 1432.81, indicating a bullish trend. The MACD of -17.89 indicates Negative momentum. The RSI at 56.10 is Neutral, neither overbought nor oversold. The STOCH value of 79.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ADANIPORTS.
Adani Ports & Special Economic Zone Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹72.25B | 20.41 | ― | 4.98% | 7.10% | 29.89% | |
74 Outperform | ₹3.33T | 26.17 | ― | 0.47% | 24.80% | 21.95% | |
70 Outperform | ₹77.20B | 18.01 | ― | 0.94% | 9.97% | 16.28% | |
70 Outperform | ₹111.28B | 6.66 | ― | 4.43% | -7.39% | -21.53% | |
66 Neutral | ₹367.33B | 29.93 | ― | 2.34% | 0.87% | 3.19% | |
61 Neutral | ₹524.58B | 41.33 | ― | 0.47% | 22.40% | 25.69% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% |
* Services Sector Average
IN:ADANIPORTS
Adani Ports & Special Economic Zone Ltd
1,447.30
288.94
24.94%
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Adani Ports & Special Economic Zone Ltd Corporate Events
India Ratings affirms Adani Ports at IND AAA, backs new NCD issue
Apr 1, 2026
India Ratings and Research has affirmed Adani Ports and Special Economic Zone Ltd’s top-tier long-term credit rating at IND AAA with a Stable outlook for existing non-convertible debentures and has assigned the same rating to a new Rs. 64 bi...
Adani Ports Secures NCLT Nod to Merge Harbour Services Unit
Apr 1, 2026
Adani Ports and Special Economic Zone Ltd has received approval from the National Company Law Tribunal, Ahmedabad Bench, for the amalgamation of its wholly owned subsidiary Adani Harbour Services Ltd with the parent company. The tribunal’s s...
Adani Ports Surpasses 500 Million Tonne Cargo Landmark, Signals Push to 1 Billion by 2030
Apr 1, 2026
Adani Ports and Special Economic Zone has announced that it has crossed the milestone of handling 500 million tonnes of cargo, underscoring its transformation into one of India’s most critical logistics and infrastructure players. The compan...
Adani Ports Signals Interest in Implementing Jaiprakash Associates Resolution Plan
Mar 19, 2026
Adani Ports and Special Economic Zone Ltd has indicated an in-principle interest in participating as one of the implementing entities in the resolution plan for debt-laden Jaiprakash Associates Limited, whose plan, submitted by Adani Enterprises L...
Adani Ports Announces Final Results of Dollar Bond Cash Tender Offers
Mar 12, 2026
Adani Ports and Special Economic Zone Ltd has announced the final results of its cash tender offers targeting portions of two outstanding U.S. dollar bond issues. The company sought to purchase up to US$345.137 million of its 4.0% Senior Notes due...
Adani Ports Reports Early Results of Cash Tender Offers for 2027 and 2031 Dollar Notes
Feb 25, 2026
Adani Ports and Special Economic Zone Ltd has reported early results from its cash tender offers targeting up to US$345.1 million of its 4.0% Senior Notes due 2027 and up to US$150 million of its 3.10% Senior Notes due 2031. The initiative, conduc...
Adani Ports, NMDC and Vale to Build Iron Ore Hub at Gangavaram Port
Feb 21, 2026
Adani Ports and Special Economic Zone, via its subsidiary Adani Gangavaram Port, has signed a strategic memorandum of understanding with Indian miner NMDC and Brazil’s Vale to develop an iron ore blending facility and dedicated special econo...
Adani Ports Launches Tender Offer to Buy Back Dollar Bonds
Feb 10, 2026
Adani Ports Special Economic Zone Ltd has approved a cash tender offer to buy back up to US$345.137 million of its 4.0% Senior Notes due 2027 and up to US$150 million of its 3.10% Senior Notes due 2031. The move is part of a structured debt manag...
Adani Ports Launches Tender Offers to Buy Back US Dollar Senior Notes
Feb 10, 2026
Adani Ports and Special Economic Zone Ltd has launched cash tender offers to buy back up to US$345.137 million of its outstanding 4.0% Senior Notes due 2027 and up to US$150 million of its outstanding 3.10% Senior Notes due 2031. The offers, made ...
Adani Group Wins Landmark JCR Credit Ratings Above and At Par With India’s Sovereign
Jan 30, 2026
Japan Credit Rating Agency has initiated long-term foreign currency ratings on three Adani Group infrastructure companies, assigning APSEZ an A- with a stable outlook—one notch above India’s sovereign rating—and AGEL and AESL BBB...
Adani Ports and Two Group Companies Secure Landmark JCR Credit Ratings
Jan 30, 2026
Adani Ports Special Economic Zone Ltd, along with Adani Green Energy Ltd and Adani Energy Solutions Ltd, has received inaugural long-term foreign currency credit ratings from Japan Credit Rating Agency, with APSEZ awarded an A- rating with a stab...
Adani Ports Says Supreme Court Ruling on Gujarat Land Row Has No Material Impact
Jan 28, 2026
Adani Ports Special Economic Zone Ltd has clarified that a recent Supreme Court ruling on its long-running grazing land dispute in Gujarat will not materially affect its operations or performance. The Supreme Court has quashed both the Gujarat go...
Adani Ports Says Vizhinjam Expansion Plans Already Disclosed, No Fresh SEBI Disclosure Needed
Jan 27, 2026
Adani Ports Special Economic Zone has clarified to the BSE and NSE that media reports on a ₹16,000 crore commitment to expand the Vizhinjam International Deepwater Multipurpose Seaport in Kerala relate to an already disclosed, ongoing proje...
Adani Ports Says US Legal Summons Report Does Not Involve Company
Jan 23, 2026
Adani Ports and Special Economic Zone Ltd has informed Indian stock exchanges that a recent media report about a US regulator seeking measures to serve legal summons on Gautam and Sagar Adani does not involve the company itself. Reiterating an ear...
Adani Ports Announces Resignation of Non-Executive Director Rajkumar Beniwal
Jan 19, 2026
Adani Ports and Special Economic Zone Ltd has announced that Mr. Rajkumar Beniwal, IAS, Vice Chairman and Chief Executive Officer of the Gujarat Maritime Board, has resigned from his position as a non-executive director on the company’s boar...
Adani Ports’ Statutory Auditor Converts to LLP with Tenure Unchanged
Jan 16, 2026
Adani Ports and Special Economic Zone Ltd has announced that its statutory auditor, M S K A Associates, Chartered Accountants, has converted into a Limited Liability Partnership and will now operate as M S K A Associates LLP under the Limited Li...
Adani Ports Announces EGM Notice via Newspaper Advertisements
Jan 11, 2026
Adani Ports and Special Economic Zone Ltd has notified stock exchanges that it has published newspaper advertisements regarding the electronic dispatch of the notice for an Extraordinary General Meeting scheduled for February 2, 2026. The communic...
Adani Ports Calls February 2026 EGM to Clear Material Related-Party Deals
Jan 10, 2026
Adani Ports and Special Economic Zone Ltd has convened an Extraordinary General Meeting (EGM) of shareholders on February 2, 2026, to be held via video conferencing, with electronic voting facilities provided in advance and during the meeting to e...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.