Adani Ports & Special Economic Zone Ltd

Adani Ports & Special Economic Zone Ltd

₹ 1,760 1.59%
08 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 4,05,589 Cr.
  • Current Price 1,760
  • High / Low 1,792 / 1,290
  • Stock P/E 31.2
  • Book Value 417
  • Dividend Yield 0.43 %
  • ROCE 14.1 %
  • ROE 16.4 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 21.0% CAGR over last 5 years
  • Company's median sales growth is 20.3% of last 10 years

Cons

  • Stock is trading at 4.22 times its book value
  • Tax rate seems low

* 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

Consolidated Figures in Rs. Crores / View Standalone

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
5,797 6,248 6,646 6,920 6,896 7,560 7,067 7,964 8,488 9,126 9,167 9,705 10,738
2,526 2,558 2,982 2,724 2,887 2,820 2,700 3,161 3,482 3,631 3,827 3,919 4,718
Operating Profit 3,271 3,689 3,664 4,196 4,009 4,739 4,367 4,802 5,006 5,495 5,340 5,786 6,020
OPM % 56% 59% 55% 61% 58% 63% 62% 60% 59% 60% 58% 60% 56%
-885 384 351 507 -70 349 254 247 426 453 837 189 900
Interest 623 633 520 976 619 484 659 923 715 846 1,223 980 1,605
Depreciation 846 950 974 985 979 1,012 1,077 1,106 1,185 1,255 1,264 1,384 1,615
Profit before tax 917 2,491 2,521 2,741 2,341 3,593 2,885 3,020 3,532 3,848 3,690 3,611 3,700
Tax % -24% 15% 30% 19% 14% 14% 16% 17% 14% 14% 15% 16% 11%
1,139 2,119 1,762 2,208 2,015 3,107 2,413 2,518 3,023 3,311 3,120 3,043 3,308
EPS in Rs 5.36 9.79 8.09 10.22 9.44 14.41 11.32 11.67 13.95 15.34 14.39 13.25 14.45
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
6,152 7,109 8,439 11,323 10,925 11,873 12,550 17,119 20,852 26,711 30,475 38,736
2,250 2,532 3,021 4,166 4,330 5,926 3,862 7,591 9,905 11,121 12,335 15,884
Operating Profit 3,902 4,577 5,418 7,157 6,596 5,947 8,688 9,528 10,947 15,589 18,141 22,851
OPM % 63% 64% 64% 63% 60% 50% 69% 56% 52% 58% 60% 59%
686 730 1,037 844 1,289 1,928 1,967 1,832 327 671 1,800 2,169
Interest 1,175 1,124 1,116 1,579 1,385 1,951 2,255 2,544 2,363 2,733 2,532 4,654
Depreciation 912 1,063 1,160 1,188 1,373 1,680 2,107 3,099 3,425 3,888 4,379 5,517
Profit before tax 2,501 3,119 4,179 5,234 5,126 4,244 6,292 5,717 5,487 9,639 13,030 14,849
Tax % 7% 9% 7% 30% 21% 11% 20% 13% 2% 16% 15% 14%
2,324 2,856 3,902 3,690 4,045 3,785 5,049 4,953 5,391 8,104 11,061 12,782
EPS in Rs 11.18 13.99 18.89 17.74 19.27 18.52 24.58 23.13 24.58 37.55 51.35 55.58
Dividend Payout % 10% 8% 7% 11% 1% 17% 20% 22% 20% 16% 14% 13%
Compounded Sales Growth
10 Years: 18%
5 Years: 25%
3 Years: 23%
TTM: 27%
Compounded Profit Growth
10 Years: 16%
5 Years: 21%
3 Years: 27%
TTM: 20%
Stock Price CAGR
10 Years: 25%
5 Years: 18%
3 Years: 35%
1 Year: 35%
Return on Equity
10 Years: 17%
5 Years: 17%
3 Years: 18%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 10,351 13,091 17,112 20,489 23,958 25,051 30,035 41,399 44,957 52,346 61,837 95,665
17,776 22,342 22,214 22,370 27,712 30,242 35,855 47,935 53,434 49,470 51,621 63,399
3,541 2,538 3,629 3,960 4,228 6,217 8,285 8,572 13,740 14,751 19,553 25,790
Total Liabilities 32,082 38,385 43,369 47,233 56,311 61,917 74,582 98,328 112,563 116,999 133,443 185,315
20,527 20,883 21,054 22,670 28,121 32,715 48,291 62,553 72,224 75,148 89,616 131,669
CWIP 1,276 1,967 4,514 4,545 4,483 3,216 3,697 4,023 6,637 10,936 11,706 12,672
Investments 260 545 1,161 1,079 782 1,178 2,236 3,161 7,432 4,289 4,659 5,449
10,020 14,990 16,641 18,938 22,924 24,808 20,358 28,591 26,271 26,627 27,461 35,525
Total Assets 32,082 38,385 43,369 47,233 56,311 61,917 74,582 98,328 112,563 116,999 133,443 185,315

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3,057 2,381 4,063 5,608 6,029 7,402 7,556 10,420 11,900 15,018 17,226 20,356
-2,485 -4,153 -2,629 -3,846 -4,368 -749 -14,064 -5,493 -16,716 -6,947 -9,788 -13,191
-237 2,170 -1,325 -1,889 2,313 -4,256 3,514 -586 -2,734 -7,800 -6,916 -5,483
Net Cash Flow 335 398 109 -127 3,975 2,397 -2,994 4,341 -7,550 271 523 1,682
Free Cash Flow 1,828 270 315 2,910 3,143 3,843 5,208 6,774 2,962 7,628 9,228 5,074
CFO/OP 91% 68% 88% 92% 108% 139% 97% 119% 116% 104% 103% 96%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 76 125 116 139 93 98 85 54 69 50 53 60
Inventory Days
Days Payable
Cash Conversion Cycle 76 125 116 139 93 98 85 54 69 50 53 60
Working Capital Days 29 -116 107 219 -74 -6 -5 -85 -56 -101 -114 -21
ROCE % 14% 13% 14% 17% 14% 12% 14% 11% 10% 13% 14% 14%

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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