Adani Ports & Special Economic Zone Ltd

Adani Ports & Special Economic Zone Ltd

₹ 1,748 1.35%
06 May - close price
About

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.

Key Points

Largest port operator in India
The company is the largest private port operator, having 15 ports with a total cargo handling capacity of 633 MMT. It also operates ports in Haifa (Israel), Dar es Salaam (Tanzania), and Colombo (Sri Lanka). [1]

  • Market Cap 4,02,568 Cr.
  • Current Price 1,748
  • High / Low 1,762 / 1,290
  • Stock P/E 210
  • Book Value 268
  • Dividend Yield 0.43 %
  • ROCE 8.19 %
  • ROE 4.16 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 77.5%

Cons

  • Stock is trading at 6.51 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 6.55% over last 3 years.
  • Earnings include an other income of Rs.2,868 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
1,384 1,427 1,530 1,887 1,964 1,890 1,803 2,182 2,131 1,839 2,058 1,862 2,773
391 451 848 703 832 822 536 538 720 609 542 549 1,261
Operating Profit 993 976 681 1,184 1,132 1,068 1,267 1,644 1,412 1,229 1,516 1,313 1,511
OPM % 72% 68% 45% 63% 58% 57% 70% 75% 66% 67% 74% 71% 55%
-100 450 416 588 524 852 540 521 495 589 1,033 497 743
Interest 744 683 619 794 667 664 771 1,402 605 921 1,874 1,028 2,005
Depreciation 152 160 165 168 162 164 163 163 170 163 166 166 192
Profit before tax -4 583 313 810 826 1,092 872 599 1,131 734 509 616 57
Tax % -5,299% 32% 37% 35% 25% 29% 34% 32% 29% 31% 12% 31% -250%
192 394 196 525 623 776 572 409 798 505 449 425 199
EPS in Rs 0.89 1.82 0.91 2.43 2.88 3.59 2.65 1.89 3.70 2.34 2.08 1.84 0.86
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3,909 4,619 4,879 6,534 5,336 4,643 4,377 4,206 5,237 6,807 7,911 8,535
1,302 1,312 1,332 2,025 1,550 1,628 1,506 1,653 1,966 2,382 2,601 3,011
Operating Profit 2,607 3,307 3,547 4,509 3,787 3,016 2,871 2,553 3,271 4,425 5,309 5,524
OPM % 67% 72% 73% 69% 71% 65% 66% 61% 62% 65% 67% 65%
738 1,173 1,285 1,310 2,218 3,030 2,985 1,012 -1,006 1,526 1,855 2,868
Interest 709 854 998 1,519 1,867 3,460 2,327 2,494 2,680 2,763 2,944 5,476
Depreciation 489 519 541 471 474 553 619 600 613 656 661 687
Profit before tax 2,148 3,106 3,293 3,829 3,664 2,032 2,910 472 -1,028 2,532 3,560 2,229
Tax % -2% 5% 6% 37% 28% 5% 34% 69% -53% 31% 31% 20%
2,183 2,964 3,101 2,408 2,638 1,934 1,928 148 -479 1,738 2,457 1,793
EPS in Rs 10.55 14.31 14.97 11.63 12.74 9.52 9.49 0.70 -2.22 8.05 11.37 7.78
Dividend Payout % 10% 8% 9% 17% 2% 34% 53% 716% -225% 75% 62% 96%
Compounded Sales Growth
10 Years: 6%
5 Years: 14%
3 Years: 18%
TTM: 8%
Compounded Profit Growth
10 Years: -4%
5 Years: 0%
3 Years: -19%
TTM: -34%
Stock Price CAGR
10 Years: 25%
5 Years: 18%
3 Years: 37%
1 Year: 32%
Return on Equity
10 Years: 9%
5 Years: 7%
3 Years: 7%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 414 414 414 414 414 406 406 422 432 432 432 461
Reserves 10,786 13,152 16,451 17,703 19,912 19,292 21,228 29,422 28,104 28,756 29,838 61,379
11,768 15,508 20,207 20,285 25,160 29,066 34,118 45,075 47,818 49,973 51,746 48,004
2,839 2,055 2,176 2,431 1,938 3,048 2,806 3,330 3,372 3,594 4,443 3,702
Total Liabilities 25,807 31,129 39,248 40,834 47,424 51,813 58,558 78,250 79,726 82,755 86,459 113,545
8,462 8,524 8,390 7,957 9,074 10,583 10,282 10,039 10,190 10,041 11,353 11,067
CWIP 663 857 1,458 1,627 775 675 590 614 638 810 941 1,136
Investments 4,965 5,313 10,410 10,542 13,957 15,616 21,695 33,748 45,973 46,125 52,398 69,098
11,717 16,436 18,990 20,708 23,619 24,939 25,991 33,849 22,926 25,780 21,767 32,244
Total Assets 25,807 31,129 39,248 40,834 47,424 51,813 58,558 78,250 79,726 82,755 86,459 113,545

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,990 1,713 2,313 2,411 3,214 3,170 3,042 3,012 2,714 3,743 5,471 5,973
-3,556 -2,954 -4,181 -550 -2,403 -31 -7,967 -8,803 -4,025 -1,994 -2,533 -4,157
1,917 1,498 1,717 -1,926 2,555 -2,581 3,827 7,308 -3,452 -1,468 -2,820 -1,969
Net Cash Flow 351 257 -151 -64 3,367 558 -1,098 1,517 -4,763 281 118 -154
Free Cash Flow 2,086 1,224 1,151 2,270 2,238 2,384 2,493 2,379 176 3,137 3,971 4,592
CFO/OP 93% 70% 81% 71% 106% 123% 125% 132% 79% 88% 112% 117%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 70 123 134 184 131 168 136 94 71 67 60 58
Inventory Days
Days Payable
Cash Conversion Cycle 70 123 134 184 131 168 136 94 71 67 60 58
Working Capital Days 88 -129 154 310 -16 -46 -127 125 -191 -290 -198 -96
ROCE % 14% 15% 13% 15% 13% 12% 10% 7% 7% 7% 9% 8%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Dec 2025
Logistics - Rake Count
Number

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Multi-Modal Logistics Parks (MMLPs)
Number
Total Port Capacity
MMTPA
Total Cargo Volume
MMT
Total Container Volume
Million TEUs
All-India Cargo Market Share
%
All-India Container Market Share
%
Marine Fleet (Vessel Count)
Number
Average Port Turnaround Time
Days

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

6 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
62.89% 65.53% 65.89% 65.89% 65.89% 65.89% 65.89% 65.89% 65.89% 65.89% 68.02% 68.02%
16.99% 13.83% 14.72% 14.98% 15.19% 15.22% 13.94% 13.43% 13.53% 13.61% 13.10% 13.25%
12.45% 13.27% 12.01% 11.84% 12.48% 13.26% 14.20% 14.73% 15.15% 15.03% 13.89% 13.86%
7.66% 7.37% 7.39% 7.30% 6.44% 5.62% 5.96% 5.94% 5.46% 5.48% 4.99% 4.89%
No. of Shareholders 10,24,1119,44,1669,70,2479,91,00112,74,01011,86,67012,53,85812,62,91111,85,33511,66,91411,22,53710,95,768

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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