MarketFriction

Adani Ports & Special Economic Zone Ltd

NSE ADANIPORTS · BSE 532921 · Port & Port services
₹1,737.80 -3.36%
NSE close2026-10-01
52 week range1,292.00 - 1,891.10
Market cap₹4,19,781 Cr.
P/E31.6
Nifty 50Nifty 100Nifty 200Nifty 500Nifty Infrastructure No price band Delivery 52.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales6,6466,9206,8967,5607,0677,9648,4889,1269,1679,70510,73810,821
Expenses2,9822,7242,8872,8202,7003,1613,4823,6313,8273,9194,7184,568
Operating Profit3,6644,1964,0094,7394,3674,8025,0065,4955,3405,7866,0206,253
OPM %55%61%58%63%62%60%59%60%58%60%56%58%
Other Income351507-70349254247426453837189900853
Interest5209766194846599237158461,2239801,6051,087
Depreciation9749859791,0121,0771,1061,1851,2551,2641,3841,6151,711
Profit before tax2,5212,7412,3413,5932,8853,0203,5323,8483,6903,6113,7004,307
Tax %30%19%14%14%16%17%14%14%15%16%11%15%
Net Profit1,7622,2082,0153,1072,4132,5183,0233,3113,1203,0433,3083,650
EPS in Rs8.0910.229.4414.4111.3211.6713.9515.3414.3913.2514.4515.71
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales7,1098,43911,32310,92511,87312,55017,11920,85226,71130,47538,73640,430
Expenses2,5323,0214,1664,3305,9263,8627,5919,90511,12112,05415,86817,032
Operating Profit4,5775,4187,1576,5965,9478,6889,52810,94715,58918,42122,86823,399
OPM %64%64%63%60%50%69%56%52%58%60%59%58%
Other Income7301,0378441,2891,9281,9671,8323276711,8002,1522,778
Interest1,1241,1161,5791,3851,9512,2552,5442,3632,7332,8134,6544,895
Depreciation1,0631,1601,1881,3731,6802,1073,0993,4253,8884,3795,5175,974
Profit before tax3,1194,1795,2345,1264,2446,2925,7175,4879,63913,03014,84915,308
Tax %9%7%30%21%11%20%13%2%16%15%14%
Net Profit2,8563,9023,6904,0453,7855,0494,9535,3918,10411,06112,78213,121
EPS in Rs13.9918.8917.7419.2718.5224.5823.1324.5837.5551.3555.5857.80
Dividend Payout %8%7%11%1%17%20%22%20%16%14%13%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth18%25%23%24%
Compounded Profit Growth16%21%27%17%
Stock Price CAGR22%20%30%30%
Return on Equity17%17%18%16%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital414414414414414406406422432432432461
Reserves10,35113,09117,11220,48923,95825,05130,03541,39944,95752,34661,83795,498
Borrowings17,77622,34222,21422,37027,71230,24235,85547,93553,43449,47051,62163,566
Other Liabilities3,5412,5383,6293,9604,2286,2178,2858,57213,74014,75119,55323,574
Total Liabilities32,08238,38543,36947,23356,31161,91774,58298,328112,563116,999133,443183,099
Fixed Assets20,52720,88321,05422,67028,12132,71548,29162,55372,22475,14889,616131,652
CWIP1,2761,9674,5144,5454,4833,2163,6974,0236,63710,93611,70612,689
Investments2605451,1611,0797821,1782,2363,1617,4324,2894,6595,449
Other Assets10,02014,99016,64118,93822,92424,80820,35828,59126,27126,62727,46133,308
Total Assets32,08238,38543,36947,23356,31161,91774,58298,328112,563116,999133,443183,099
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3,0572,3814,0635,6086,0297,4027,55610,42011,90015,01817,22620,356
Cash from Investing Activity-2,485-4,153-2,629-3,846-4,368-749-14,064-5,493-16,716-6,947-9,788-13,191
Cash from Financing Activity-2372,170-1,325-1,8892,313-4,2563,514-586-2,734-7,800-6,916-5,483
Net Cash Flow335398109-1273,9752,397-2,9944,341-7,5502715231,682
Free Cash Flow1,8282703152,9103,1433,8435,2086,7742,9627,6289,2285,074
CFO/OP91%68%88%92%108%139%97%119%116%104%101%96%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days761251161399398855469505360
Inventory Days
Days Payable
Cash Conversion Cycle761251161399398855469505360
Working Capital Days29-116107219-74-6-5-85-56-101-114-33
ROCE %14%13%14%17%14%12%14%11%10%13%15%14%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters65.53%65.89%65.89%65.89%65.89%65.89%65.89%65.89%65.89%68.02%68.02%66.03%
FIIs13.83%14.72%14.98%15.19%15.22%13.94%13.43%13.53%13.61%13.10%13.25%15.58%
DIIs13.27%12.01%11.84%12.48%13.26%14.20%14.73%15.15%15.03%13.89%13.86%13.60%
Public7.37%7.39%7.30%6.44%5.62%5.96%5.94%5.46%5.48%4.99%4.89%4.79%
No. of Shareholders9,44,1669,70,2479,91,00112,74,01011,86,67012,53,85812,62,91111,85,33511,66,91411,22,53710,95,76810,72,323

Fundamentals

Market Cap₹ 4,19,781 Cr.
Current Price₹ 1,822
Stock P/E31.6
Book Value₹ 416
ROCE14.1 %
ROE16.4 %
Dividend Yield0.41 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)24%
Compounded Profit Growth (TTM)17%
Consolidated figures.
Valuation
Market capRs 400,382 Cr
Enterprise valueRs 455,464 Cr
P/E (TTM)30.54x
Price to book4.17x
Price to sales9.90x
EV / EBITDA17.40x
EV / EBIT22.54x
EV / sales11.27x
Price to cash flow19.67x
Earnings yield3.27%
Dividend yield0.43%
P/E, 3-year average27.46x
P/B, 3-year average4.25x
P/E, 5-year average28.31x
P/B, 5-year average3.93x
Profitability
Operating margin (excl. other income)59.04%
Operating margin (incl. other income)64.59%
EBITDA margin64.75%
Pre-tax margin37.86%
Net profit margin32.43%
Net margin, latest quarter33.46%
ROE16.19%
ROCE14.27%
ROA8.09%
ROE, 3-year average17.33%
ROCE, 3-year average13.74%
ROA, 3-year average8.01%
ROE, 5-year average15.54%
ROCE, 5-year average12.03%
ROA, 5-year average6.94%
ROIC (approx.)11.51%
Tax rate13.92%
Other income / net worth2.24%
Growth
Sales growth (latest year)27.11%
Profit growth (latest year)15.45%
Sales CAGR, 3 years22.93%
Sales CAGR, 5 years25.28%
Profit CAGR, 3 years34.11%
Profit CAGR, 5 years20.72%
Sales growth QoQ0.78%
Profit growth QoQ8.75%
Sales growth YoY (latest quarter)18.57%
Profit growth YoY (latest quarter)9.23%
Per share
EPS (TTM)Rs 56.91
EPS (latest year)Rs 55.58
EPS (latest quarter)Rs 15.71
EPS, 3-year averageRs 48.16
EPS, 5-year averageRs 38.44
Book value per shareRs 416.50
Sales per shareRs 175.48
Cash flow per shareRs 88.35
Free cash flow per shareRs 22.02
Dividend per share (latest year)Rs 7.50
Dividend per share, 3-year averageRs 6.83
Dividend per share, 5-year averageRs 6.10
Dividends
Dividend payout13.49%
Dividend payout, 3-year average14.37%
Dividend payout, 5-year average17.01%
Efficiency
Asset turnover0.21x
Fixed asset turnover0.29x
Inventory turnover16.84x
Inventory days22 days
Debtor days60 days
Debtors turnover6.07x
Cash conversion cycle60 days
Working capital days-33 days
Leverage
Total debtRs 63,566 Cr
Cash and bankRs 8,484 Cr
Net debtRs 55,082 Cr
Debt to equity0.66x
Net debt / EBITDA2.10x
Interest coverage4.13x
Current ratio (filing 2026-03-31)1.39x
Quick ratio (filing 2026-03-31)1.35x
Trade payables (filing 2026-03-31)Rs 2,736 Cr
Owners' fund to total sources52.41%
Debt to assets34.72%
Cash flow
Cash from Operating Activity (latest year)Rs 20,356 Cr
Cash from Investing Activity (latest year)Rs -13,191 Cr
Cash from Financing Activity (latest year)Rs -5,483 Cr
Net Cash Flow (latest year)Rs 1,682 Cr
Free cash flow (latest year)Rs 5,074 Cr
FCFE (approx.: FCF + change in debt)Rs 17,019 Cr
Cash from ops / profit, 5 years1.77x
Sales to cash flow1.90x
Statement figures
Net sales (TTM)Rs 40,430 Cr
Net sales (latest year)Rs 38,736 Cr
Sales (latest quarter)Rs 10,821 Cr
Operating profit excl. other income (latest year)Rs 22,868 Cr
Operating profit (latest quarter)Rs 6,253 Cr
Other income (TTM)Rs 2,778 Cr
EBITDA (TTM)Rs 26,177 Cr
PBDT (TTM)Rs 21,282 Cr
Profit before tax (TTM)Rs 15,308 Cr
Tax (latest year)Rs 2,067 Cr
Net profit (TTM)Rs 13,112 Cr
Net profit (latest year)Rs 12,806 Cr
Net profit (latest quarter)Rs 3,620 Cr
Depreciation (TTM)Rs 5,974 Cr
Depreciation (latest quarter)Rs 1,711 Cr
Interest (TTM)Rs 4,895 Cr
Cost of goods sold (latest year)Rs 11,533 Cr
Total expenditure (latest year)Rs 15,868 Cr
Total income (latest year)Rs 40,888 Cr
Share capitalRs 461 Cr
ReservesRs 95,498 Cr
Shareholders' fundsRs 95,959 Cr
Total assetsRs 183,099 Cr
Net blockRs 131,652 Cr
Capital work in progressRs 12,689 Cr
InvestmentsRs 5,449 Cr
ReceivablesRs 6,383 Cr
InventoryRs 685 Cr
Other liabilitiesRs 23,574 Cr
Shares outstanding (crore)230.40
Ownership
Promoter holding66.03% (+0.14 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 30.5 is at the 55th percentile of its own 9.4-year range (median 29.6, low 14.5, high 62.4).
P/B 4.17 is at the 32th percentile (median 4.77).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodADANIPORTSNifty 50Difference
1 week-2.7%-2.8% +0.1 pts
1 month+5.5%-6.8% +12.3 pts
3 months-7.3%-7.6% +0.3 pts
6 months+32.4%+0.4% +32.0 pts
1 year+23.5%-9.9% +33.4 pts
2 years+19.3%-13.6% +32.9 pts
3 years+110.6%+14.2% +96.4 pts
5 years+136.5%+27.9% +108.6 pts
293 mutual fund schemes hold about ₹11,732 Cr. Over three months 42 bought more and 192 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Kotak Arbitrage Fund(M0.89%677 -4%
ICICI Pru Focused Fund2.37%425 -34%
ICICI Pru Equity Savings Fund(Q2.52%408 -1%
ICICI Pru Balanced Advantage Fund(M0.50%378 -9%
HDFC Large Cap Fund0.87%348 -7%
SBI Large Cap Fundd0.58%319 -5%
UTI Nifty 50 Index Fund1.07%314 -6%
Helios Flexi Cap Fund3.31%290 -14%
HDFC Nifty 50 Index Fund1.07%258 -6%
Aditya Birla SL Focused Fund3.20%255 -10%
Mirae Asset Large Cap Fund0.66%254 -5%
Nippon India Small Cap Fund0.31%254 -10%
Aditya Birla SL Flexi Cap Fund0.85%247 -13%
Kotak Equity Savings Fund(M2.25%240 -10%
SBI Arbitrage Fund0.51%239 +25%
SBI Flexicap Fund1.02%236 -7%
UTI Transportation & Logistics Fund5.32%231 -10%
Kotak Balanced Advantage Fund1.23%214 -3%
SBI Infrastructure Fund3.97%191 -4%
ICICI Pru Nifty 50 Index Fund1.07%185 -6%
ICICI Pru Nifty 50 Index Fund1.07%184 -6%
ICICI Pru Aggressive Hybrid Fund(A0.33%174 +34%
Sundaram Services Fund3.30%174 -11%
Sundaram Services Fund3.30%170 -11%
Aditya Birla SL ELSS Tax Saver Fund1.10%159 -46%

Red flags

F-score 4 of 8
lookAuditor change Auditor change 2026-04-30: Adani Ports and Special Economic Zone Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2023-06-02RESURGENT TRADE AND INVESTMENT LTDPromoter Groupbuy2,000,000Rs 147.63 CrMarket Purchase
2023-02-22Vikram JaisinghaniEmployees/Designated Employebuy1,000Rs 0.06 CrMarket Purchase
2023-02-20Vikram JaisinghaniEmployees/Designated Employebuy1,000Rs 0.06 CrMarket Purchase
2022-11-11Spitze Trade and Investment LtdPromoter Groupbuy800,000Rs 70.80 CrMarket Purchase
2022-08-23Gelt bery Trade and Investment LtdPromoter Groupbuy100Rs 0.01 CrMarket Purchase
2022-07-06Adani Tradeline Private LimitedPromoter Groupother138,193,549Others
2021-09-30Gautam S. Adani & Rajesh S Adani (Promoter Groupother1,300,000Rs 95.93 CrRevokation of Pledge
2021-09-30Prashant KumarEmployees/Designated Employesell2,001Rs 0.15 CrMarket Sale
2021-09-23Adani Tradeline LLPPromoter Groupother730,000Rs 55.08 CrRevokation of Pledge
2021-09-23Gautam S. Adani & Rajesh S Adani (Promoter Groupother500,000Rs 37.73 CrRevokation of Pledge
2021-09-21Gautam S. Adani & Rajesh S Adani (Promoter Groupother1,000,000Rs 74.96 CrRevokation of Pledge
2021-09-17Gautam S. Adani & Rajesh S Adani (Promoter Groupother3,400,000Rs 260.81 CrRevokation of Pledge
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹10,821 Cr +18.6% vs Jun 2025. Net profit ₹3,650 Cr +10.2%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-06-12Dividend - Rs 7.50 Per Share
2025-06-13Dividend - Rs 7 Per Share
2024-06-14Dividend - Rs 6 Per Share
2023-07-28Dividend - Rs 5 Per Share
2022-07-14Dividend - Rs 5 Per Share
2021-06-24 Dividend - Rs 5 Per Sh
2020-06-17 Annual General Meeting
2020-03-16 Interim Dividend - Rs 3.20 Per Share
2019-07-26 Annual General Meeting/Dividend - Rs 0.20 Per Share
2019-06-20 Buyback
2018-07-26 Annual General Meeting/Dividend- Rs 2 Per Share
2017-07-31 Annual General Meeting/Dividend - Rs 1.30 Per Share
2016-07-29 Annual General Meeting
2016-03-22 Interim Dividend - Rs 1.10/- Per Share (Purpose Revised)
2015-05-22Dividend - Rs 1.10/- Per Share
2014-07-31Annual General Meeting/Dividend Re 1/- Per Share
2013-07-30Annual General Meeting And Dividend Re.1/- Per Share
2012-07-30Annual General Meeting/ Dividend Rs 0.70 Per Share
2012-02-13Interim Dividend Re.0.30 Per Share (Purpose Revised)
2011-08-03Annual General Meeting
2011-05-05Interim Dividend-Re.0.40 Per Share (Purpose Revised)
2011-02-14Interim Dividend-Re.0.50 Per Share (Purpose Revised)
2010-09-23Face Value Split From Rs.10/- To Rs.2/-0.2000
2010-08-09Annual General Meeting And Dividend Rs.1.50 Per Share
2010-02-03Int Div-Rs.2.50 Per Sharepurpose Revised
2009-08-17Agm/Div-Re.1/- Per Share
2009-02-18Int Div-Rs.2/- Per Share Purpose Revised
2008-09-12Agm/Dividend - 15%
DateTypeWhat it says
2026-10-02Monthly updateMonthly Business Updates for the month of September 2026
2026-09-30UpdatesMedia Release APSEZs Colombo West International Terminal Doubles Capacity to 3.2 million TEUs with Total USD 750 Million Investment.
2026-09-29UpdatesAnnouncement under Regulation 30 (LODR) -Update
2026-09-11General UpdatesGeneral Updates
2026-09-09Awarding of order(s)/contracReceipt of Letter of Award (LOA) for development and operations of two dry bulk berths at Paradip Port, Odisha.
2026-09-07Concall / analyst meetSchedule of meet
2026-09-03UpdatesAPSEZ to start Dedicated Empty Container Yard operations at Mundra Port and SEZ.
2026-09-02Concall / analyst meetSchedule of meet
2026-09-02Monthly updateMonthly Business Updates for the month of August 2026
2026-09-01General UpdatesIncorporation of step-down subsidiary.
2026-08-21Concall / analyst meetSchedule of meet
2026-08-17Concall / analyst meetSchedule of meet
2026-08-11General UpdatesIntimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Incorporation of step-down subsidiary...
2026-08-11General UpdatesIntimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Incorporation of step-down subsidiar...
2026-08-10UpdatesUpdate on ESG Rating.
2026-08-06Concall / analyst meetSchedule of meet
2026-08-03Monthly updateMonthly Business Updates for the month of July 2026
2026-08-03Concall / analyst meetTranscript
2026-08-01General UpdatesGeneral Updates
2026-07-29Concall / analyst meetLink of Recording
2026-07-29Rumour Verification - RegulaRumour Verification - Regulation 30(11)
2026-07-29Press ReleaseA press release dated July 29, 2026, titled "Submission of Media Release and Investor Presentation on Unaudited Financial Results(Standalone and Conso...
2026-07-29Board meeting outcomeAdani Ports and Special Economic Zone Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-24UpdatesInaugural Taskforce on Nature-related Financial Disclosures (TNFD) Report for FY2025-26..
2026-07-16Credit RatingCredit Rating
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.93
Max pain (expiry 2026-10-27)1,780
Largest call open interest at1,800
Largest put open interest at1,700
Implied volatility, at the money23.4%
Underlying at snapshot1,737.80
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-302,537
2026-09-2976,031
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2020-03-12NCLATAdani Ports and Special Economic Zone Limited VS Shailen Shah, Resolution Professional of Dighi Port Ltd. & Ors.
2020-03-12NCLATAdani Ports and Special Economic Zone Ltd. VS Shailen Shah, Resolution Professional of Dighi Port Ltd. & Ors.
2020-02-06NCLATAdani Ports and Special Economic Zone Limited VS Shailen Shah, Resolution Professional of Dighi Port Ltd. & Ors.
2020-02-06NCLATAdani Ports and Special Economic Zone Ltd. VS Shailen Shah, Resolution Professional of Dighi Port Ltd. & Ors.
2020-02-04NCLATAdani Ports and Special Economic Zone Limited VS Shailen Shah, Resolution Professional of Dighi Port Ltd. & Ors.
2020-02-04NCLATAdani Ports and Special Economic Zone Ltd. VS Shailen Shah, Resolution Professional of Dighi Port Ltd. & Ors.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Adani Ports & Special Economic Zone Ltd?

Adani Ports & Special Economic Zone Ltd (ADANIPORTS) has a market capitalisation of Rs 4,19,781 Cr. at the 2026-10-01 close.

What is the P/E ratio of Adani Ports & Special Economic Zone Ltd?

Adani Ports & Special Economic Zone Ltd trades at a P/E of 31.6 on trailing twelve-month profit, at the 2026-10-01 close.

What were Adani Ports & Special Economic Zone Ltd's latest quarterly results?

In the Jun 2026 quarter, Adani Ports & Special Economic Zone Ltd sales was Rs 10,821 Cr (+18.6% vs Jun 2025) and net profit was Rs 3,650 Cr.

What is the 52-week high and low of Adani Ports & Special Economic Zone Ltd?

The 52-week high is Rs 1,891.10 and the 52-week low is Rs 1,292.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03