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Adani Ports & Special Economic Zone Ltd
(ADANIPORTS)
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Rating:63Neutral
Price Target:
₹1,816.00
▲(6.89% Upside)
Action:Downgraded
Date:08/06/26
The score is driven primarily by solid financial performance—strong profitability and growth with improving leverage—offset by weaker free-cash-flow conversion in the latest year. Technicals are currently soft (below key short-term averages with negative MACD), and valuation is relatively expensive (high P/E with a low dividend yield), which collectively cap the overall rating.
Positive Factors
Revenue Re-acceleration
Sustained revenue re-acceleration indicates the company is gaining volume or market share across its port and logistics network. Over 2–6 months this supports higher terminal utilization, better fixed-cost absorption and justifies continued infrastructure investment, strengthening long-term earnings potential.
Negative Factors
Large Absolute Debt
Despite improved ratios, the very large nominal debt stock leaves the company exposed to interest-rate cycles and refinancing windows. Over a multi-month horizon this can constrain strategic flexibility, increase financing costs, and make the business more sensitive to macro shocks than lower-levered peers.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Re-acceleration
Sustained revenue re-acceleration indicates the company is gaining volume or market share across its port and logistics network. Over 2–6 months this supports higher terminal utilization, better fixed-cost absorption and justifies continued infrastructure investment, strengthening long-term earnings potential.
Read all positive factors
Adani Ports & Special Economic Zone Ltd (ADANIPORTS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.07T
Dividend Yield0.43%
Average Volume (3M)386.42K
Price to Earnings (P/E)30.1
Beta (1Y)1.24
Revenue Growth23.85%
EPS Growth12.07%
CountryIN
Employees3,372
SectorGeneral
Sector StrengthN/A
IndustryMarine Shipping
Share Statistics
EPS (TTM)58.59
Shares Outstanding2,303,959,000
10 Day Avg. Volume759,744
30 Day Avg. Volume386,419
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 ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)64.62
Revenue Forecast (FY)₹447.91B
Adani Ports & Special Economic Zone Ltd Business Overview & Revenue Model
Company Description
Adani Ports and Special Economic Zone Limited is a prominent Indian company engaged in the development, operation, and maintenance of port infrastructure nationwide. Its activities extend to establishing ports-related facilities and fostering the ...
How the Company Makes Money
ADANIPORTS primarily earns revenue by charging customers (shipping lines, cargo owners, logistics providers, and other port users) for port and terminal services. Key revenue streams include: (1) Cargo handling and terminal services: fees linked t...
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 | 404.30B | 387.36B | 304.75B | 267.11B | 208.52B | 171.19B |
| Gross Profit | 202.64B | 196.30B | 202.19B | 175.25B | 138.81B | 113.94B |
| EBITDA | 237.25B | 241.99B | 180.93B | 156.64B | 126.52B | 103.66B |
| Net Income | 131.12B | 128.06B | 110.92B | 81.11B | 53.09B | 48.86B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.85T | 1.35T | 1.19T | 1.15T | 996.86B |
| Cash, Cash Equivalents and Short-Term Investments | 72.85B | 97.38B | 60.98B | 49.81B | 63.53B | 93.24B |
| Total Debt | 0.00 | 633.99B | 514.54B | 491.67B | 532.68B | 473.54B |
| Total Liabilities | -989.81B | 863.33B | 703.59B | 643.75B | 678.46B | 573.05B |
| Stockholders Equity | 989.81B | 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 Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | ₹78.17B | 13.96 | ― | 6.42% | 25.04% | 42.70% | |
75 Outperform | ₹201.44B | 5.38 | ― | 3.00% | 23.87% | 83.96% | |
71 Outperform | ₹130.52B | 8.08 | ― | 2.67% | 16.69% | 78.54% | |
63 Neutral | ₹4.07T | 30.12 | ― | 0.43% | 23.85% | 12.07% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹4.73B | 23.16 | ― | 0.01% | -33.61% | ― | |
42 Neutral | ₹3.37B | 3.72 | ― | ― | -98.62% | -87.40% |
* General Sector Average
IN:ADANIPORTS
Adani Ports & Special Economic Zone Ltd
1,765.00
376.00
27.07%
IN:ESSARSHPNG
Essar Shipping Limited.
16.27
-8.09
-33.21%
IN:GESHIP
Great Eastern Shipping Co. Ltd.
1,410.95
445.82
46.19%
IN:GPPL
Gujarat Pipavav Port Limited
161.70
7.24
4.69%
IN:LANCER
Lancer Container Lines Ltd
12.71
0.19
1.52%
IN:SCI
Shipping Corporation of India Limited
280.20
71.20
34.07%
Adani Ports & Special Economic Zone Ltd Corporate Events
Adani Ports Posts Strong Q1 Cargo Growth as Rail Volumes Decline
Jul 2, 2026
Adani Ports and Special Economic Zone reported handling 46.8 million metric tonnes of cargo in June 2026, a 13% year-on-year rise driven by strong growth in container and liquid cargo volumes. For the first quarter of FY27, cargo throughput reache...
Adani Ports Secures Leadership-Tier ESG Upgrade from CareEdge
Jun 26, 2026
Adani Ports and Special Economic Zone Ltd has received an upgraded ESG score of 84.3 from CareEdge ESG Ratings, corresponding to a top-tier “Leadership” category for managing environmental, social and governance risks. The improvement ...
Adani Ports Gains S&P Rating Upgrade to Match India’s Sovereign
Jun 25, 2026
Adani Ports and Special Economic Zone Ltd has received a long-term issuer credit rating upgrade from SP Global Ratings to BBB from BBB-, with a Stable outlook, bringing its rating in line with India’s sovereign rating. SP cited APSEZ’s...
Adani Ports Wins 10-Year Marine Services Deal for Argentina–India LNG Route
Jun 8, 2026
Adani Ports and Special Economic Zone has won a 10-year marine services contract tied to Argentina’s first liquefied natural gas exports to India, marking the group’s entry into South America and further diversifying its global operati...
Adani Ports Deepens Global Shipping Push With New Angola Subsidiary
May 21, 2026
Adani Ports and Special Economic Zone Ltd has expanded its international shipping management footprint through the incorporation of Astro Ship Management Angola (SU) LDA as a wholly owned subsidiary of Astro Middle East Ship Management DMCC. The n...
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.