ADANIPORTS

Adani Ports and Special Economic Zone Limited

India's largest port operator, with rail, warehousing and last-mile logistics attached

Services›Services›Transport Infrastructure›Port & Port services

adaniports.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1750.80
Market cap
4,03,475 Cr
Stock P/E
30.8
P/B
4.20
Dividend yield
0.4%
ROE (FY26)
12.9%
ROCE (FY26)
12.7%
Operating margin (FY26)
44.7%
Debt / equity (FY26)
0.57
OCF / EBITDA (FY26)
89.1%
OCF / EBITDA (3Y)
91.1%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Adani Ports (Adani Ports and Special Economic Zone, APSEZ) runs container, bulk and other cargo ports in India and overseas, with marine services and rail and road logistics alongside.

Company snapshot

1stBy market cap

Ranked among 4 companies in Port & Port services.

Segment mix

Reportable segments as of 2024-09-30 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 91.3% of revenue

SegmentRevenue shareRevenuePBTAssets
Assets/Liabilities held for sale—0 Cr0 Cr—
Others
9.1%
1,335 Cr73 Cr—
Port and SEZ activities
91.3%
13,360 Cr6,780 Cr—

What we see

Positives
  • ✓Net margin of 33.0% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales6,646 Cr6,920 Cr6,897 Cr7,560 Cr7,067 Cr7,964 Cr8,488 Cr9,126 Cr9,167 Cr9,705 Cr10,738 Cr10,821 Cr
Operating expenses (approx.)2,982 Cr2,627 Cr2,853 Cr2,712 Cr2,698 Cr3,161 Cr3,482 Cr3,631 Cr3,617 Cr3,919 Cr4,718 Cr4,280 Cr
EBITDA3,664 Cr4,293 Cr4,044 Cr4,848 Cr4,369 Cr4,802 Cr5,006 Cr5,495 Cr5,550 Cr5,786 Cr6,020 Cr6,541 Cr
OPM %55.1%62.0%58.6%64.1%61.8%60.3%59.0%60.2%60.5%59.6%56.1%60.4%
Other income305 Cr507 Cr303 Cr495 Cr305 Cr223 Cr281 Cr296 Cr837 Cr234 Cr752 Cr853 Cr
Interest520 Cr976 Cr619 Cr515 Cr659 Cr923 Cr715 Cr846 Cr1,223 Cr980 Cr1,605 Cr1,087 Cr
Depreciation974 Cr985 Cr979 Cr1,012 Cr1,077 Cr1,106 Cr1,185 Cr1,255 Cr1,264 Cr1,384 Cr1,615 Cr1,711 Cr
Profit before tax2,521 Cr2,741 Cr2,341 Cr3,593 Cr2,885 Cr3,020 Cr3,532 Cr3,848 Cr3,690 Cr3,611 Cr3,700 Cr4,307 Cr
Tax %30.1%19.4%13.9%13.5%16.4%16.6%14.4%14.0%15.4%15.7%10.6%15.3%
Net profit1,762 Cr2,208 Cr2,015 Cr3,107 Cr2,413 Cr2,518 Cr3,023 Cr3,311 Cr3,120 Cr3,043 Cr3,308 Cr3,650 Cr
EPS (₹)₹8.09₹10.22₹9.44₹14.41₹11.32₹11.67₹13.95₹15.34₹14.39₹14.04₹14.45₹15.71

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8,439 Cr11,323 Cr10,925 Cr11,873 Cr12,550 Cr15,934 Cr20,852 Cr26,711 Cr31,079 Cr38,736 CrSign in free for the trailing twelve months
Operating expenses (approx.)2,747 Cr4,261 Cr4,334 Cr5,934 Cr3,851 Cr7,055 Cr9,905 Cr10,847 Cr12,054 Cr15,884 CrSign in free for the trailing twelve months
EBITDA5,692 Cr7,062 Cr6,592 Cr5,939 Cr8,699 Cr8,879 Cr10,947 Cr15,864 Cr19,025 Cr22,851 CrSign in free for the trailing twelve months
OPM %67.4%62.4%60.3%50.0%69.3%55.7%52.5%59.4%61.2%59.0%Sign in free for the trailing twelve months
Other income1,040 Cr1,011 Cr1,362 Cr1,861 Cr1,970 Cr2,155 Cr1,553 Cr1,499 Cr1,304 Cr2,119 CrSign in free for the trailing twelve months
Interest1,393 Cr1,495 Cr1,385 Cr1,813 Cr2,255 Cr2,541 Cr2,363 Cr2,846 Cr2,813 Cr4,654 CrSign in free for the trailing twelve months
Depreciation1,160 Cr1,188 Cr1,373 Cr1,680 Cr2,107 Cr2,740 Cr3,423 Cr3,888 Cr4,379 Cr5,517 CrSign in free for the trailing twelve months
Profit before tax4,188 Cr5,234 Cr5,126 Cr4,244 Cr6,292 Cr5,541 Cr5,489 Cr10,094 Cr13,030 Cr14,849 CrSign in free for the trailing twelve months
Tax %6.8%29.5%21.1%10.8%19.8%13.5%1.8%19.7%15.1%13.9%Sign in free for the trailing twelve months
Net profit3,902 Cr3,690 Cr4,045 Cr3,785 Cr5,049 Cr4,795 Cr5,393 Cr8,104 Cr11,061 Cr12,782 CrSign in free for the trailing twelve months
EPS (₹)₹18.89₹17.74₹19.27₹18.35₹24.58₹22.39₹24.58₹37.55₹51.35₹58.23Sign in free for the trailing twelve months
Dividend payout %————0.0%21.4%20.3%13.3%2.5%12.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital414 Cr414 Cr414 Cr406 Cr406 Cr422 Cr432 Cr432 Cr432 Cr461 Cr
Reserves17,112 Cr20,655 Cr24,124 Cr25,217 Cr30,222 Cr37,828 Cr45,152 Cr52,513 Cr62,003 Cr95,665 Cr
Borrowings20,527 Cr20,630 Cr26,429 Cr28,339 Cr33,875 Cr45,752 Cr50,518 Cr46,279 Cr45,810 Cr55,103 Cr
Other liabilities5,393 Cr5,527 Cr5,350 Cr8,022 Cr9,352 Cr10,483 Cr17,465 Cr18,096 Cr24,549 Cr31,230 Cr
Total liabilities43,585 Cr47,375 Cr56,527 Cr62,204 Cr75,324 Cr94,878 Cr1,14,905 Cr1,18,918 Cr1,35,332 Cr1,85,315 Cr
Fixed assets (net)16,663 Cr18,444 Cr22,781 Cr27,314 Cr38,567 Cr42,321 Cr51,956 Cr55,613 Cr68,572 Cr1,02,004 Cr
CWIP4,514 Cr4,545 Cr4,483 Cr3,216 Cr3,697 Cr3,986 Cr6,814 Cr10,936 Cr11,592 Cr12,672 Cr
Investments1,161 Cr1,079 Cr782 Cr1,178 Cr2,236 Cr5,961 Cr10,060 Cr5,634 Cr6,119 Cr7,308 Cr
Loans & advances——1,548 Cr1,853 Cr1,083 Cr1,302 Cr408 Cr269 Cr173 Cr90 Cr
Inventories657 Cr520 Cr807 Cr288 Cr992 Cr381 Cr452 Cr438 Cr522 Cr685 Cr
Trade receivables1,965 Cr3,538 Cr2,790 Cr3,202 Cr2,926 Cr2,470 Cr3,941 Cr3,667 Cr4,432 Cr6,383 Cr
Cash & bank950 Cr823 Cr4,798 Cr7,195 Cr4,198 Cr8,597 Cr932 Cr1,576 Cr3,406 Cr5,162 Cr
Other assets17,675 Cr18,425 Cr18,539 Cr17,957 Cr21,625 Cr29,859 Cr40,342 Cr40,786 Cr40,516 Cr51,012 Cr
Total assets43,585 Cr47,375 Cr56,527 Cr62,204 Cr75,324 Cr94,878 Cr1,14,905 Cr1,18,918 Cr1,35,332 Cr1,85,315 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity4,063 Cr5,608 Cr6,029 Cr7,402 Cr7,556 Cr9,800 Cr11,933 Cr15,018 Cr17,226 Cr20,356 Cr
Cash from investing-2,639 Cr-3,846 Cr-4,424 Cr-750 Cr-14,143 Cr-7,423 Cr-16,939 Cr-6,768 Cr-8,480 Cr-13,118 Cr
Cash from financing-1,325 Cr-1,889 Cr2,313 Cr-4,256 Cr3,592 Cr2,042 Cr-2,734 Cr-7,800 Cr-6,916 Cr-5,483 Cr
Net cash flow98 Cr-127 Cr3,919 Cr2,396 Cr-2,994 Cr4,419 Cr-7,739 Cr450 Cr1,831 Cr1,755 Cr
Free cash flow (OCF − Capex)314 Cr2,876 Cr3,089 Cr3,780 Cr5,602 Cr6,051 Cr2,808 Cr7,601 Cr9,177 Cr5,036 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %14.6%16.1%12.7%11.2%13.0%9.6%8.1%12.8%14.3%12.7%
ROE %22.1%17.4%16.1%14.7%15.6%12.2%11.3%14.9%17.1%12.9%
Debtor days851149398855669505260
Inventory days28172792998666
Days payable20161922292232303226
Cash conversion cycle9311510185844345262641
OCF / EBITDA %71.4%79.4%91.5%124.6%86.9%110.4%109.0%94.7%90.5%89.1%
OCF / EBITDA % (3 years)——81.2%97.2%98.9%105.3%102.7%103.0%96.4%91.1%
Debt / equity1.170.981.081.111.111.201.110.870.730.57
Current ratio1.823.531.411.931.761.471.361.050.901.39
Net debt / EBITDA3.44—3.283.563.414.184.532.822.232.19