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:71Outperform
Price Target:
₹1,829.00
▲(24.15% Upside)
Action:Reiterated
Date:05/02/26
The score is driven primarily by strong financial performance (high margins, multi-year earnings growth, and improving leverage), supported by a bullish technical trend (price above key moving averages and positive MACD). Offsetting factors are weaker free-cash-flow conversion in the latest year and limited valuation support from the low dividend yield.
Positive Factors
Revenue Growth & Scale
Consistent double-digit top-line expansion through FY2026 reflects scalable port and logistics demand and growing throughput across terminals. Durable revenue growth supports higher capacity utilization, strengthens customer relationships, and underpins predictable fee-based cash flows tied to trade volumes.
Negative Factors
Large Absolute Debt
Despite improving ratios, a nominal debt stock of ₹634B leaves the firm exposed to refinancing risk and interest-rate volatility. Large absolute borrowings can constrain strategic optionality, increase funding costs if rates rise, and raise the importance of consistent cash conversion to meet obligations.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Scale
Consistent double-digit top-line expansion through FY2026 reflects scalable port and logistics demand and growing throughput across terminals. Durable revenue growth supports higher capacity utilization, strengthens customer relationships, and underpins predictable fee-based cash flows tied to trade volumes.
Read all positive factors
Adani Ports & Special Economic Zone Ltd (ADANIPORTS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.09T
Dividend Yield0.47%
Average Volume (3M)157.20K
Price to Earnings (P/E)22.7
Beta (1Y)1.23
Revenue Growth27.11%
EPS Growth13.39%
CountryIN
Employees3,129
SectorServices
Sector StrengthN/A
IndustryMarine Shipping
Share Statistics
EPS (TTM)55.35
Shares Outstanding2,303,959,000
10 Day Avg. Volume197,182
30 Day Avg. Volume157,200
Financial Highlights & Ratios
PEG Ratio1.68
Price to Book (P/B)3.00
Price to Sales (P/S)7.45
P/FCF Ratio99.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)65.5
Revenue Forecast (FY)₹444.67B
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
78
Positive
Balance Sheet
70
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 347.46B | 387.36B | 304.75B | 267.11B | 208.52B | 171.19B |
| Gross Profit | 216.53B | 196.30B | 202.19B | 175.25B | 138.81B | 113.94B |
| EBITDA | 206.95B | 228.51B | 180.93B | 156.64B | 126.52B | 103.66B |
| Net Income | 119.58B | 128.06B | 110.92B | 81.11B | 53.09B | 48.86B |
Balance Sheet | ||||||
| Total Assets | 1.47T | 1.85T | 1.35T | 1.19T | 1.15T | 996.86B |
| Cash, Cash Equivalents and Short-Term Investments | 111.29B | 97.38B | 60.98B | 49.81B | 63.53B | 93.24B |
| Total Debt | 568.51B | 633.99B | 514.54B | 491.67B | 532.68B | 473.54B |
| Total Liabilities | 775.00B | 863.33B | 703.59B | 643.75B | 678.46B | 573.05B |
| Stockholders Equity | 670.78B | 961.25B | 624.35B | 529.45B | 455.56B | 419.88B |
Cash Flow | ||||||
| Free Cash Flow | 30.41B | 28.94B | 91.77B | 76.01B | 28.08B | 60.51B |
| Operating Cash Flow | 95.03B | 182.15B | 172.26B | 150.18B | 119.33B | 98.00B |
| Investing Cash Flow | -99.56B | -141.44B | -97.87B | -69.47B | -196.04B | -52.82B |
| Financing Cash Flow | 4.21B | -23.89B | -69.16B | -78.00B | -27.34B | -5.86B |
Adani Ports & Special Economic Zone Ltd Technical Analysis
Positive
1473.25
Price Trends
1537.13
Positive
1508.52
Positive
1465.63
Positive
Market Momentum
68.32
Positive
64.96
Neutral
66.60
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 below the 20-day moving average (MA) of 1707.73, below the 50-day MA of 1537.13, and above the 200-day MA of 1465.63, indicating a bullish trend. The MACD of 68.32 indicates Positive momentum. The RSI at 64.96 is Neutral, neither overbought nor oversold. The STOCH value of 66.60 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 | ₹74.50B | 20.41 | ― | 4.98% | 10.80% | 38.52% | |
74 Outperform | ₹152.43B | 7.56 | ― | 4.43% | 3.10% | 60.40% | |
71 Outperform | ₹4.09T | 22.71 | ― | 0.47% | 27.11% | 13.39% | |
70 Outperform | ₹67.93B | 18.01 | ― | 0.94% | 8.65% | 13.08% | |
66 Neutral | ₹383.44B | 29.93 | ― | 2.34% | 2.01% | -2.15% | |
61 Neutral | ₹537.25B | 32.90 | ― | 0.47% | 19.78% | 0.70% | |
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
1,793.20
427.80
31.33%
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Adani Ports & Special Economic Zone Ltd Corporate Events
Adani Ports Schedules May Investor and Analyst Meetings
May 1, 2026
Adani Ports and Special Economic Zone Ltd has announced a schedule of meetings with institutional investors and equity analysts in early May 2026. The company will hold a non-deal roadshow with in-person interactions in Mumbai and Singapore from 6...
Adani Ports posts FY26 results call audio for investors
Apr 30, 2026
Adani Ports and Special Economic Zone Ltd has notified the exchanges that it has made available the audio recording of its analysts and investors call discussing audited standalone and consolidated financial results for the quarter and year ended ...
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 ...
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.