On 6 Nov 2026, Adani Ports and Special Economic Zone was priced at ₹1,936.60, or 32.3× trailing earnings, against an industry P/E of 23.5×, and the shares are close to their 52-week high. Sales and net profit grew 23% and 34% a year over 3 years, with ROCE of 11% and ROE of 16%. Debt is 0.63× equity, and its dividend yield is 0.4%. It is a large-cap company with a market cap of ₹4.5 lakh crore, the largest of 15 Marine Shipping companies by market cap; the shares rose 30% over the past year.
- ₹1,895.30
- ₹1,941.60
- ₹1,877.70
- ₹1,884.60
- 38.8 L
Health check
- ReturnsIn line
+30.5% over a year, better than 3 of 7 peers.
- Price tagPricier
P/E 32.3 vs industry 23.5.
- GrowthStrong
Sales +22.9%, profit +34.1% a year over 3 years.
- ProfitabilityWeak
ROCE 11.0% vs peer median 15.8%.
- Balance sheetFair
Debt 0.63× equity, interest covered 5.0×, Piotroski 5 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Large cap
Defensive
Key metrics
- Market cap
- ₹4.5L Cr
- Large cap
- P/E
- 32.3
- Industry 23.5
- Price to book
- 4.36
- Peers 4.42
- Dividend yield
- 0.39%
- ROE
- 15.6%
- Peers 20.0%
- ROCE
- 11.0%
- Peers 15.8%
- Debt to equity
- 0.63
- Debt ₹65,998 Cr
- EPS (TTM)
- ₹59.92
- Face value ₹2
- OPM (TTM)
- 44.0%
- Net margin 32.0%
- Sales growth
- +23.7%
- Latest quarter vs a year ago
- Profit growth
- +9.2%
- Latest quarter vs a year ago
- Price to sales
- 10.47
- EV/EBITDA 20.4
Strengths and risks
Strengths
- Quarterly sales up 23.7% on a year ago.
- Net margin of 32.0%.
- Positive operating cash flow in each of the last 4 years.
About Adani Ports and Special Economic Zone
Adani Ports and Special Economic Zone Limited, together with its subsidiaries, develops, operates, and maintains port infrastructure in India and internationally. The company is involved in the operation of ports and terminals, including bulk and break bulk, container, liquid, dry bulk, general, LPG/LNG, and crude cargo; terminal and ports related infrastructure development activities; and development of infrastructure at contiguous Special Economic Zone…
- Headquarters
- Ahmedabad
- Employees
- 3,372
- Sector
- Industrials
- ISIN
- INE742F01042
- Website
- adaniports.com
Price range
- Avg volume (3M)
- 26.9 L
- 1-year return
- plus 30.5%
- From 52-week high
- minus 0.6%
Analyst consensus
Next results expected around 28 Jan 2027
Peers · Marine Shipping
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ADANIPORTSAdani Ports and Special Economic Zone | 1,936.60 | plus 2.76% | 4,46,185 | 32.3 | 4.36 | 11.0% | 15.6% | 44.0% | 22.9% | 34.1% | 0.39% | plus 30.5% |
| JSWINFRAJSW Infrastructure | 338.30 | minus 2.31% | 78,692 | 50.3 | 4.42 | 12.0% | 9.9% | 36.2% | 19.0% | 27.2% | 0.27% | plus 19.5% |
| GESHIPGreat Eastern Shipping Co. | 1,428.70 | minus 2.14% | 19,236 | 4.6 | 1.20 | 17.4% | 18.8% | 42.5% | −1.6% | 4.5% | 4.03% | plus 38.6% |
| SHREEJISPGShreeji Shipping Global | 884.55 | plus 2.40% | 14,411 | 88.7 | 18.71 | – | 21.1% | 24.4% | −5.4% | 8.7% | 0.23% | plus 219.9% |
| SCIShipping Corporation of India | 261.07 | minus 0.90% | 12,161 | 6.1 | 1.34 | 14.1% | 15.5% | 23.5% | −0.1% | 15.8% | 2.80% | plus 5.3% |
| KMEWKnowledge Marine & Engineering Works | 652.80 | minus 79.23% | 8,279 | 60.7 | 14.00 | 13.4% | 20.0% | 39.9% | 7.6% | 18.8% | 0.00% | plus 125.5% |
| GPPLGujarat Pipavav Port | 166.49 | plus 3.23% | 8,052 | 14.6 | 3.37 | 26.7% | 21.8% | 52.0% | 6.6% | 18.0% | 6.06% | minus 0.9% |
| CORDELIAWaterways Leisure Tourism | 88.29 | minus 2.03% | 6,392 | 56.6 | 8.35 | 59.8% | 92.1% | 21.1% | 6.3% | −1.9% | 0.00% | plus 32.2% |
| Median of 7 peers | – | −2.03% | 12,161 | 50.3 | 4.42 | 15.8% | 20.0% | 36.2% | 6.3% | 15.8% | 0.27% | 32.2% |
Quarterly results
| ₹ Cr | Jun 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 9,126 | 9,705 | 10,738 | 10,821 | 11,340 | |
| 4,886 | 5,303 | 6,332 | 5,991 | 6,247 | |
| 4,240 | 4,402 | 4,405 | 4,829 | 5,094 | |
| 46.5% | 45.4% | 41.0% | 44.6% | 44.9% | |
| 777 | 416 | 760 | 833 | 287 | |
| 783 | 836 | 1,377 | 995 | 1,034 | |
| −387 | −372 | −88.2 | −360 | 118 | |
| 3,848 | 3,611 | 3,700 | 4,307 | 4,466 | |
| 14.0% | 15.7% | 10.6% | 15.3% | 17.5% | |
| 3,315 | 3,054 | 3,329 | 3,620 | 3,622 | |
| 15.34 | 14.04 | 14.45 | 15.71 | 15.72 |
Profit & loss
- Sales CAGR 3Y
- +22.9%
- Profit CAGR 3Y
- +34.1%
- EPS CAGR 3Y
- +33.3%
- ROE
- 15.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 20,852 | 26,711 | 30,475 | 38,736 | |
| – | +28.1% | +14.1% | +27.1% | |
| 7,914 | 10,669 | 11,980 | 15,768 | |
| 12,937 | 16,042 | 18,496 | 22,968 | |
| 62.0% | 60.1% | 60.7% | 59.3% | |
| −505 | 941 | 968 | 2,147 | |
| 2,557 | 2,712 | 2,687 | 3,751 | |
| 3,425 | 3,888 | 4,379 | 5,517 | |
| −963 | −289 | 631 | −997 | |
| 5,487 | 10,094 | 13,030 | 14,849 | |
| 1.8% | 15.2% | 15.1% | 13.9% | |
| 5,309 | 8,111 | 11,092 | 12,806 | |
| – | +52.8% | +36.8% | +15.5% | |
| 24.58 | 37.55 | 51.35 | 58.23 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 432 | 432 | 432 | 461 | |
| 45,124 | 52,513 | 62,003 | 95,665 | |
| 52,443 | 49,167 | 51,305 | 63,236 | |
| 16,764 | 16,806 | 21,592 | 25,953 | |
| 1,14,763 | 1,18,918 | 1,35,332 | 1,85,315 | |
| 61,984 | 69,867 | 81,923 | 1,18,070 | |
| 9,636 | 14,254 | 13,351 | 16,066 | |
| 2,573 | 2,572 | 2,682 | 3,419 | |
| 6,353 | 4,981 | 6,098 | 7,310 | |
| 34,217 | 27,243 | 31,278 | 40,450 | |
| 1,14,763 | 1,18,918 | 1,35,332 | 1,85,315 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 11,900 | 15,018 | 17,226 | 20,356 | |
| −19,560 | −6,947 | −9,787 | −13,191 | |
| −2,734 | −7,800 | −6,916 | −5,483 | |
| −10,608 | 271 | 523 | 1,682 | |
| −9,141 | −7,416 | −8,049 | −15,320 | |
| 2,758 | 7,601 | 9,177 | 5,036 | |
| −1,093 | −1,080 | −1,336 | −1,535 |
Shareholding pattern
- Promoters66.03%
- Public33.97%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 66.03% | 33.97% | 0.00 | |
| 30 Jun 2026 | 66.03% | 33.97% | minus 1.99 | |
| 31 Mar 2026 | 68.02% | 31.98% | 0.00 | |
| 31 Dec 2025 | 68.02% | 31.98% | 0.00 | |
| 23 Dec 2025 | 68.02% | 31.98% | – |
Major shareholders
Filings & events
News
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