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Adani Ports and Special Economic Zone Ltd (ADANIPORTS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532921 NSE: ADANIPORTS Port | Large Cap | Adani Ports &Special Share Price

₹1,800.35 -5.55 (-0.31%)

As on 09-Jun'26 12:13

Adani Ports and Special Economic Zone Ltd (ADANIPORTS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532921 NSE: ADANIPORTS Port | Large Cap | Adani Ports &Special Share Price

₹1,800.35 -5.55 (-0.31%)

As on 09-Jun'26 12:13

Key Metrics
Valuation Multiples
Market Cap
₹4,16,072 Cr.
Current Price
₹1,800.4
52-Week Low / High
₹1,291 / 1,843
TTM EPS
₹55.6
TTM Sales
₹38,736 Cr.
Book Value per Share
₹416.5
P/E Ratio
32.49
Higher than its 5-year historical median
Industry PE
192.7
Price to Book (P/B)
4.34
Lower than its 5-year historical median
Price to Sales (P/S)
10.74
Higher than its 5-year historical median
EV/EBITDA
18.53
Higher than its 5-year historical median
Dividend Yield
0.57%
Profitability Efficiency
Return on Equity (ROE)
16.16%
In line with industry median
Return on Capital Employed (ROCE)
15.03%
Outperforms industry median
Return on Assets (ROA)
8.08%
Operating Profit Margin
59%
Net Profit Margin
33%
Gross Profit Margin
52.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
27.11%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
24.05%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
15.56%
Asset Quality
Promoter Holding
68.02%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹95,498 Cr.
Equity
₹460.8 Cr.
Face Value
₹2
All Time Low / High
₹50.00 / 1843.10

Adani Ports and Special Economic Zone stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Overvalued

Price Trend

Strong
Q.1 Is Adani Ports and Special Economic Zone Ltd a good quality company?
Adani Ports and Special Economic Zone Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Adani Ports and Special Economic Zone Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Adani Ports and Special Economic Zone Ltd vs industry peers?
Adani Ports and Special Economic Zone Ltd revenue CAGR is 21.65%, compared to the industry median CAGR of 21.65%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of Adani Ports and Special Economic Zone Ltd?
Promoters hold 68.02% of the Adani Ports and Special Economic Zone Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Adani Ports and Special Economic Zone Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 26% based on the current price.

DeciZen - make an informed investing decision on Adani Ports &Special

Decision Maker
Consolidated basis

1. Right Stock

10 Year X-ray Pro
Long Term Prospect

2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Adani Ports and Special Economic Zone Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 14.7%15.6%13.8%11.5%14.1%10.8%10.8%13.3%15.5%15%-
Value Creation
Index
0.30.40.20.00.30.00.00.20.40.3-

Growth Parameters

Sales 8,43911,32310,92511,43912,55017,11920,85226,71130,47538,73638,736
Sales YoY Gr.-34.2%-3.5%4.7%9.7%36.4%21.8%28.1%14.1%27.1%-
Adj EPS 1819.421.124.421.827.227.738.649.356.255.6
YoY Gr.-8%8.9%15.4%-10.5%24.5%2%39.2%28%13.8%-
BVPS (₹) 83.8100.9118.5125.3149.8180.9210.1244.3288.3416.5416.5
Adj Net
Profit
3,7184,0154,3754,9514,4325,7375,9838,33010,65812,93612,805
Cash Flow from Ops. 4,0635,6086,0297,4027,55610,42011,90015,01817,22620,356-
Debt/CF from Ops. 5.544.64.14.64.44.33.12.72.7-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 18.5%25.3%22.9%27.1%
Adj EPS 13.5%20.8%26.6%13.8%
BVPS19.5%22.7%25.6%44.5%
Share Price 24.5% 16.1% 34.8% 22.7%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
2420.819.219.715.815.813.716.918.516.313.3
Op. Profit
Mgn %
64.263.264.762.563.660.861.659.560.55959
Net Profit
Mgn %
43.835.640.543.535.833.929.131.234.933.333.1
Debt to
Equity
1.31.11.11.21.11.21.10.90.70.60.5
Working Cap
Days
549446517522464334315265236214107
Cash Conv.
Cycle
88971006955284-0-3619

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales8,43911,32310,92511,43912,55017,11920,85226,71130,47538,736
Operating Expenses + 3,0254,4994,3345,9344,5667,5948,01810,84712,05415,884
Manufacturing Costs2,1663,2352,7313,0903,2374,8685,6247,1068,11611,322
Material Costs0000000000
Employee Cost 3834475305476157791,1781,8962,0092,354
Other Costs 4768161,0732,2977151,9461,2161,8451,9292,208
Operating Profit 5,4156,8246,5925,5057,9839,52412,83315,86418,42122,851
Operating Profit Margin (%) 64.2%60.3%60.3%48.1%63.6%55.6%61.5%59.4%60.4%59.0%
Other Income + 1,3181,0111,4052,4332,6852,2391,7841,5512,1542,119
Exceptional Items 0-155-69-590-405-1,273-374-249-208
Interest 1,3931,2571,4281,9512,2552,5604,4802,8973,0594,654
Depreciation 1,1601,1881,3731,6802,1073,0993,4253,8884,3795,517
Profit Before Tax 4,1795,2345,1264,2446,2925,7175,48710,09413,03014,849
Tax 2871,5441,0814591,243764961,9901,9682,067
Profit After Tax 3,8923,6904,0453,7855,0494,9535,3918,10411,06112,782
PAT Margin (%) 46.1%32.6%37.0%33.1%40.2%28.9%25.9%30.3%36.3%33.0%
Adjusted EPS (₹)18.917.719.318.524.623.124.637.651.455.6
Dividend Payout Ratio (%)6.90%11.30%1%17.30%20.30%21.60%20.30%16%13.60%13.50%

Valuation of Adani Ports &Special - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 17,52621,06924,53825,62330,60838,38345,55652,94562,43596,125
Share Capital 580580414573573589599599599627
Reserves 16,94620,48924,12425,05130,03537,79444,95752,34661,83795,498
Debt +21,25521,40226,42928,33933,87545,06648,49538,59136,84350,964
Long Term Debt17,99320,62919,88326,18132,93639,69146,51737,66335,83150,424
Short Term Debt3,2627736,5462,1579405,3741,9789281,012540
Minority Interest13915021022014653931361159825382856
Trade Payables4564905727291,0141,1602,2961,9122,7212,736
Others Liabilities 2,2172,9543,7506,0847,62013,32714,85621,95328,90630,417
Total Liabilities 41,59446,06555,49960,99474,58298,3281,12,5631,16,9991,33,4431,83,099

Fixed Assets

Net Fixed Assets +21,05422,67028,12132,71548,29162,55370,92273,80388,1571,29,793
Gross Block23,46326,46933,25239,53757,07074,07685,62891,6601,09,7561,57,353
Accumulated Depreciation2,4103,7995,1316,8238,77911,52314,70717,85821,59927,560
CWIP 4,5144,5454,4833,2163,6974,0236,63710,93611,70612,689
Investments 1,1611,0797821,1782,2363,1617,4324,2894,6595,449
Inventories657520807288992396452438522685
Trade Receivables2,6934,3102,7903,2022,9262,5213,9573,6674,4326,383
Cash Equivalents 1,9772,9685,9677,3144,70110,6674,3347,6326,6068,484
Others Assets 9,5389,97212,54813,08111,73915,00718,83016,23617,36019,616
Total Assets 41,59446,06555,49960,99474,58298,3281,12,5631,16,9991,33,4431,83,099

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 4,0635,6086,0297,4027,55610,42011,90015,01817,22620,356
PBT 4,1795,2345,1264,2446,2925,7175,48710,09413,03014,849
Adjustment 1,8332,0801,9783,0171,7284,9048,1346,2056,03210,024
Changes in Working Capital -1226-70732991408758-874-10-370-3002
Tax Paid -723-999-1,107-850-873-960-847-1,272-1,465-1,514
Cash Flow From Investing Activity + -2,639-3,846-4,424-750-14,143-5,282-19,560-6,947-9,787-13,191
Capex -3,748-2,698-2,887-3,558-2,348-3,646-8,937-7,390-7,998-15,282
Net Investments -1,086-1,0361,3851,213-1,184-4,583-801-1112,690-1,195
Others 2,194-113-2,9221,595-10,6112,947-9,822554-4,4793,287
Cash Flow From Financing Activity + -1,325-1,8892,313-4,2563,514-586-2,734-7,800-6,916-5,483
Net Proceeds from Shares 0000090994623538744
Net Proceeds from Borrowing 5012,404-1,6555,1366,6414,9515,735-3,654-2,810907
Interest Paid -1,088-1,164-1,472-1,924-1,938-2,551-2,371-2,809-2,579-3,139
Dividend Paid -1-269-418-700-0-1,027-1,093-1,080-1,336-1,535
Others -737-2,8605,859-6,768-1,189-2,869-5,951-493-577-1,760
Net Cash Flow 98-1273,9192,396-3,0734,553-10,3942715231,682

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)25.3619.2917.815.1418.0614.4312.916.5119.2316.16
ROCE (%)14.7415.6413.7511.4914.110.810.8413.315.5115.03
Asset Turnover Ratio0.210.260.220.20.190.20.20.230.240.24
PAT to CFO Conversion(x)1.041.521.491.961.52.12.211.851.561.59
Working Capital Days
Receivable Days110.90112.90118.6095.6089.1058.1056.7052.1048.5051
Inventory Days18.801922.2017.5018.6014.807.406.105.705.70
Payable Days0000000000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *1.721.701.550.030.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Adani Ports and Special Economic Zone Ltd FAQs

The current trading price of Adani Ports &Special on 09-Jun-2026 12:13 is ₹1,800.4.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 08-Jun-2026 the market cap of Adani Ports &Special stood at ₹4,16,072 Cr

The latest P/E ratio of Adani Ports &Special as of 08-Jun-2026 is 232.1.

The latest P/B ratio of Adani Ports &Special as of 08-Jun-2026 is 6.75.

The 52-week high of Adani Ports &Special is ₹1,843.1 and the 52-week low is ₹1,291.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Adani Ports &Special is ₹8,535 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Adani Ports and Special Economic Zone Ltd is a good quality company.

The key valuation ratios of Adani Ports and Special Economic Zone Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Adani Ports and Special Economic Zone Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Adani Ports and Special Economic Zone Ltd

Adani Ports and Special Economic Zone Limited (APSEZ) is the largest commercial ports operator in India accounting for nearly one-fourth of the cargo movement in the country. Its presence across many domestic ports in various maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha presents the most widespread national footprint with deepened hinterland connectivity. The port facilities are equipped with the latest cargo-handling infrastructure which is not only best-in-class, but also capable of handling the largest vessels calling at Indian shores. The company’s ports are equipped to handle diverse cargos, from dry cargo, liquid cargo, crude to containers.

Through its subsidiary Adani Logistics Ltd., APSEZ operates three logistics parks located at Patli in Haryana, Kila-Raipur in Punjab and Kishangarh in Rajasthan. Over the years, APSEZ has evolved into a provider of integrated port infrastructure services, of which the Mundra SEZ in Gujarat is a landmark validation. The Mundra Economic Hub offers investment options as the largest multi-product SEZ, Free Trade and Warehousing Zone (FTWZ) and Domestic Industrial Zone.

The Company’s integrated services across three verticals, i.e. Ports, Logistics and SEZ, has enabled it to forge alliances with leading Indian businesses making APSEZ an undisputed leader in the Indian port sector. Along with its expertise in providing end-to-end logistics solutions, operational excellence, low-cost operations and synergies through acquisitions, the Company is backed by a young and dynamic workforce that propels it to greater heights.

Business area of the company

The Company is primarily engaged in one business segment, namely developing, operating and maintaining the Ports services, Ports related Infrastructure development activities and development of infrastructure at contiguous Special Economic Zone at Mundra, as determined by chief operating decision maker, in accordance with Ind-AS 108 “Operating Segments”.

Awards and Recognition

2016:

  • Dun and Bradstreet - India’s Leading Infrastructure Company Port Category - Infra Awards 2016.
  • Sea Port of the Year - Private at Logistic Asia Award 2016.
  • Sea Port of the Year - Liquid Terminal at Logistic Asia Award 2016.
  • Samudra Manthan Awards 2016 for Private Port of the Year.
  • Container Handling Port of the year at 7th all India Maritime and Logistics Awards.
  • Private Port/Terminal of the Year Award at India Seatrade Award 2016.
  • Best Port of the year (Non Containerized) Award at India Maritime Awards.
  • Best Port of the year (Containerised) Gujarat Star Awards.
  • Won Gold in “1st Annual EKDKN Exceed Award 2017”.
  • MALA Awards - Port/Maritime Personality of the year awarded to a senior official of the Company.
  • Global Ports Forum award for Port/Terminal Visionary of The Year 2017 awarded to a senior official of the Company.
  • Global Ports Forum award for Container Terminal Operator of the year 2017.
  • Sliver Trophy - “FINEST INDIA SKILLS & TALENT AWARD 2017” category of “Best Fire Safe Company – Services” after its launch for the first time in India.
  • Golden Peacock Award for Corporate Social Responsibility for the year 2016.

2017:

  • Golden Peacock Award for Occupational Health & Safety at 19th World Congress Global Conference
  • Private Port of the Year by Sea Trade Award
  • Best Environment Protection Award by Maritime Nation India Environment Protection Award
  • Best Terminals and Ports Operator at the 11th Express, Logistics & Supply Chain Leadership Awards
  • Best Shipping Port of the Year award at India Cargo
  • Gold at ‘Best Simulation based Learning Programme’ at CLO award organized by Leapvault with knowledge associate Tata Institute of Social Sciences
  • Commendation for Significant Achievement by CII-ITC Sustainability Awards 2017 for Domain Excellence - CSR
  • Gold Award in ‘2nd Annual EKDKN EMINENT Award 2017’ - Ek Kam Desh Ke Nam (EKDKN) CSR category in port sector
  • Silver Award - Innovation under the category of Transport & Logistics from OSH India Global Safety Conference - A UBM Event
    Silver Plaque at 30th World Ports Conference organized by International Association of Ports and Harbours
  • Gold and Silver Awards in 31st National Convention on Quality Concepts for Dahej and Haizra Ports

2018:

  • Golden Peacock Environment Management Award 2018 in the Port category
  • The All India Maritime and Logistics Awards (MALA) 2018 in the ‘Best Container Handling Terminal of the Year’ category
  • Behaviour Based Safety Award 2018 in the ‘Port’ category
  • The Gujarat Junction Award 2019 in the ‘Port of the Year - Containerised Cargo’ category
  • 12th ELSC Leadership Awards and 6th Procurement Excellence Awards’

2019:

  • Mundra Port was awarded a ‘Zero Waste Port’ certificate by Libero Assurance

2020:

  • The company’s three schools were recognised and appreciated at the recently held Samagra Shiksha Empowering Awards 2020, for providing quality and value-based primary education to the underprivileged.

Milestones

2015:

  • Adani begins development of India’s First Transhipment Port at Vizhinjam
  • Adani Ports commissions Tuna Tekra bulk terminal at Kandla in a record time of 24 months

2016:

  • Adani Ports and Terminal Investment to jointly develop a major transhipment hub at Mundra

2017:

  • Adani Ports, Mundra set National Record for the ‘largest parcel size of containers handled in one vessel’
  • Adani Ports begins Berth Construction at India’s First Transhipment Port at Vizhinjam
  • Adani Ports form JV with France’s CMA CGM to operate Container Terminal at Mundra Port
  • Adani Logistics commissions multimodal logistics park in Punjab and dedicates it to the nation

2018:

  • Adani and Total Join Forces to become a major integrated downstream player in the Indian Energy Market
  • Adani Logistics Ltd. (ALL) and NYK Auto Logistics (India) Private Ltd. (NALI) Announce Formation of Rail Logistics Joint Venture
  • APSEZ completes acquisition of Kattupalli port - Southern India’s new EXIM gateway - from L&T
  • Adani Ports signs a long term regasification pact with Indian Oil for Dhamra LNG terminal
  • Adani Ports Expands Dhamra Port Capacity Four Fold to 100 million tonne per annum

2019:

  • Adani Forays into Cold Chain Logistics with INR 296 Cr acquisition of Snowman Logistics
  • APSEZ & Wilhelmshaven Freight Village Container Terminal to jointly promote trade and shipping
  • Adani becomes 1st Indian port operator to record 200 MMT cargo movement

2020:

  • Adani Ports and SEZ Ltd. completes Rs. 12000 cr acquisition of Krishnapatnam Port Company Ltd. (KPCL).
  • APSEZ becomes the first Indian port to sign up for Science Based Targets Initiative (SBTi)
  • First Container vessel carrying Export Cargo from India to Bangladesh
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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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