Adani Ports And Special Economic Zone Limited (ADANIPORTS)

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Adani Ports And Special Economic Zone Limited (ADANIPORTS) · mywealthgrid

About

Adani Ports operates port and special economic zone services within India's transport infrastructure sector; market cap ₹3.92 lakh crore. Recent quarters show consolidated revenue of ₹9.2–10.8 lakh crore with operating margins of 56–60%, but returns on equity are exceptionally low at 1.15%. The company pays regular dividends and has appreciated 26.36% over the past year.

Founded: 1998
Face value: ₹2

Market cap

₹4,00,389 Cr

P/E

36.3×

P/B

4.2×

Dividend yield

0.8%

ROE

1.2%

ROCE

13.7%

Debt / equity

0.57

OPM

59%

EPS (TTM)

₹47.8

Book value

₹417.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

ROE of 1.15% despite 58.99% operating margin—verify whether capital deployment challenges, heavy capex, high financing costs, or underutilized assets explain this gap

PE of 35.54 following 26.36% one-year appreciation creates valuation compression risk if earnings growth decelerates

Quarterly consolidated OPM ranges 56–60%, but standalone margins reach 54–74%—verify the source and consistency of this variance

Promoter holding at 66–68% with consistent dividends since 2022—verify whether capital allocation prioritizes distributions over growth-stage capex

Generated analysis · source review pending

Growth drivers

Consolidated revenue grew from ₹9,167 Cr (Sep 2025) to ₹10,821 Cr (Jun 2026)—verify if this trend continues and whether driven by cargo volume growth, tariff pricing, or capacity utilization

Operating margins sustained at consolidated 56–60%—verify whether this reflects operational efficiency or pricing power that can scale with volume growth

Regular dividend payments since 2022 demonstrate ongoing cash generation—verify whether operating cash flow supports both distributions and future growth capex

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹1,737.8-4.6%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 59%
+Revenue CAGR of 25.3% over the last 5 years
+Dividend payout of 30.3% of profit
+High promoter holding of 66% with no pledge

Cons

−Profit declined 28.8% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

48/100

Business quality: 45
Growth: 53
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY 50 NIFTY 100 NIFTY 200 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	7,109	8,439	11,323	10,925	12,550	15,934	20,852	26,711	31,079	38,736
	1,835	2,168	4,261	4,334	3,865	6,862	9,857	11,008	11,912	15,627
	—	—	7,062	6,592	8,684	9,072	10,995	15,702	19,166	23,109
OPM %	—	—	62.4%	60.3%	69.2%	56.9%	52.7%	58.8%	61.7%	59.7%
Depreciation	1,063	1,160	1,188	1,373	2,107	2,740	3,423	3,888	4,379	5,517
Interest	—	—	1,495	1,385	2,255	2,541	2,363	2,846	2,813	4,654
	733	885	856	1,293	1,970	1,750	280	1,126	1,055	1,911
Profit before tax	3,119	—	5,234	5,126	6,292	5,541	5,489	10,094	13,030	14,849
Tax	283	287	1,544	1,081	1,243	746	96	1,990	1,968	2,067
Tax %	9.1%	—	29.5%	21.1%	19.8%	13.5%	1.8%	19.7%	15.1%	13.9%
	2,856	3,902	3,690	4,045	5,049	4,795	5,393	8,104	11,061	12,782
PAT margin %	40.2%	46.2%	32.6%	37%	40.2%	30.1%	25.9%	30.3%	35.6%	33%
EPS (₹)	—	—	17.7	19.3	24.6	22.4	24.6	37.6	51.4	58.2
EPS adjusted (₹)	13.8	18.8	17.7	19.5	24.6	22.4	24.6	37.6	51.4	4
	—	—	11.3%	1%	20.3%	22.3%	20.3%	16%	13.6%	12.9%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	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	406	406	422	432	432	432	461
Reserves	10,866	17,112	20,655	24,124	25,217	30,202	37,828	45,152	52,513	62,003	95,665
Minority interest	139	139	150	210	220	1,465	393	1,339	1,598	2,538	2,856
	14,611	20,527	20,630	26,071	27,725	34,941	45,752	50,518	46,279	45,810	55,103
	5,560	5,393	5,527	5,708	8,635	8,450	10,483	17,465	18,096	24,549	31,230
Total equity & liabilities	31,590	43,585	47,375	56,527	62,204	75,464	94,878	1,14,905	1,18,918	1,35,332	1,85,315
	20,355	21,054	22,670	28,121	30,972	48,291	56,811	70,365	73,803	88,157	1,29,793
CWIP	1,087	4,514	4,545	4,483	3,216	3,697	3,986	6,814	10,936	11,592	12,672
Investments	432	1,134	1,079	779	352	2,236	5,961	10,060	5,634	6,119	7,308
	9,716	16,883	19,081	23,143	27,664	21,239	28,120	27,666	28,545	29,464	35,541
Total assets	31,590	43,585	47,375	56,527	62,204	75,464	94,878	1,14,905	1,18,918	1,35,332	1,85,315

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Port and SEZ Activities	33,532	16,942.41	1,41,845.6	19,284.33	1,22,561.27	13.82
Others	5,438.6	649.24

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2018	Mar 2019	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	62.4%	60.3%	69.3%	55.7%	52.5%	59.4%	61.2%	59%
EBIT margin %	51.9%	47.8%	52.5%	38.5%	36.1%	44.8%	47.1%	44.7%
PAT margin %	32.6%	37%	40.2%	30.1%	25.9%	30.3%	35.6%	33%
Working capital
Receivable days	114	81	85	57	69	50	52	60
Inventory days	45	68	94	20	17	15	16	16
Payable days	42	48	96	51	67	73	82	63
NWC days	117	101	83	26	18	-8	-15	13
Leverage
Current ratio	3.56	1.41	1.76	1.47	1.36	1.05	0.9	1.39
Debt to EBITDA	2.92	3.96	4.02	5.15	4.61	2.92	2.41	2.41
Debt to equity	0.98	1.06	1.14	1.2	1.11	0.87	0.73	0.57
Interest coverage	4.6	4.8	3.8	3.3	3.8	4.7	5.7	4.2
Asset turnover	0.24	0.19	0.17	0.17	0.18	0.22	0.23	0.21
Return ratios
Return on assets %	7.8%	7.2%	6.7%	5.1%	4.7%	6.8%	8.2%	6.9%
Return on capital employed %	17.1%	14.7%	15%	10.9%	9.7%	13.1%	14.7%	13.7%
Return on equity %	17.5%	16.5%	16.5%	12.5%	11.8%	15.3%	17.7%	13.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	65.53%	65.89%	65.89%	65.89%	65.89%	65.89%	65.89%	65.89%	65.89%	68.02%	68.02%	66.03%
	13.82%	14.72%	14.98%	15.19%	15.22%	13.94%	13.43%	13.52%	13.61%	13.1%	13.25%	15.58%
	13.28%	12.01%	11.83%	12.48%	13.26%	14.2%	14.73%	15.14%	15.03%	13.89%	13.85%	13.6%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	7.37%	7.38%	7.3%	6.44%	5.63%	5.97%	5.95%	5.45%	5.47%	4.99%	4.88%	4.79%
No. of shareholders	—	—	—	—	—	—	—	—	11,66,914	11,22,537	10,95,768	10,72,323

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹1,798.3 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹1,788.7	-5.5	-0.3%	₹1,788.7	31,942	-358	5,426	475
23 Nov 2026	₹1,796.4	-2.6	-0.1%	₹1,796.4	2,820	+126	219	475
29 Dec 2026	₹1,814.4	-34.7	-1.9%	₹1,826.7	11	+11	12	475

Open the chart icon on a row for that contract's close over 103 stored sessions, with open interest as bars beneath it.

38

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	1,320

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

147

across 24 fund houses

Held by these funds

2.73%

of the company's equity

All mutual funds

5.24%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

147 schemes · 24 fund houses

		Shares
Nifty 50 ETF	SBI Mutual Fund	1.43 Cr	2,279.69	1.07%	0.621%	+75,248
BSE Sensex ETF	SBI Mutual Fund	98.57 L	1,611.68	1.32%	0.428%	+97,737
ETF NIFTY 50 BEES	Nippon India Mutual Fund	44.91 L	715.41	1.07%	0.195%	+90,277
Nifty 50 ETF	ICICI Prudential Mutual Fund	29.79 L	474.61	1.07%	0.129%	+71,867
BSE Sensex ETF	ICICI Prudential Mutual Fund	26.42 L	431.95	1.32%	0.115%	+75,547
Focused FundNEW	ICICI Prudential Mutual Fund	26.69 L	425.22	2.37%	0.116%	—
ETF BSE Sensex	Nippon India Mutual Fund	23.22 L	379.66	1.32%	0.101%	+65,175
Large Cap Fund	SBI Mutual Fund	20 L	318.62	0.58%	0.087%	-0

1–8 of 147

1 / 19

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Jul 2026TranscriptAI SummaryPPT REC
Apr 2026TranscriptAI SummaryPPT REC

Documents link to external sources (exchange filings, company investor pages).

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

23

Final dividend12 Jun 2026 · ex-date₹7.5
Final dividend13 Jun 2025 · ex-date₹7
Dividend dividend14 Jun 2024 · ex-date₹6
Final dividend28 Jul 2023 · ex-date₹5
Final dividend14 Jul 2022 · ex-date₹5
Dividend dividend24 Jun 2021 · ex-date₹5
Interim dividend16 Mar 2020 · ex-date₹3.2
Final dividend26 Jul 2019 · ex-date₹0.2
Final dividend26 Jul 2018 · ex-date₹2
Dividend dividend31 Jul 2017 · ex-date₹1.3
Interim dividend22 Mar 2016 · ex-date₹1.1
Dividend dividend22 May 2015 · ex-date₹1.1
Dividend dividend31 Jul 2014 · ex-date₹1
Final dividend30 Jul 2013 · ex-date₹1
Final dividend30 Jul 2012 · ex-date₹0.7
Interim dividend13 Feb 2012 · ex-date₹0.3
Interim dividend5 May 2011 · ex-date₹0.4
Interim dividend14 Feb 2011 · ex-date₹0.5
Final dividend9 Aug 2010 · ex-date₹1.5
Interim dividend3 Feb 2010 · ex-date₹2.5
Final dividend17 Aug 2009 · ex-date₹1
Interim dividend18 Feb 2009 · ex-date₹2
Dividend dividend12 Sept 2008 · ex-date₹1.5

1

Board meeting to consider results29 Jul 2026

1

Face value ₹10 → ₹223 Sept 2010 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

10 announcementsExport CSV

30 Sept 2026, 10:49 pmCompany Update

Media Release

General PDF

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Ratio	Mar 2018	Mar 2019	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	62.4%	60.3%	69.3%	55.7%	52.5%	59.4%	61.2%	59%
EBIT margin %	51.9%	47.8%	52.5%	38.5%	36.1%	44.8%	47.1%	44.7%
PAT margin %	32.6%	37%	40.2%	30.1%	25.9%	30.3%	35.6%	33%
Working capital
Receivable days	114	81	85	57	69	50	52	60
Inventory days	45	68	94	20	17	15	16	16
Payable days	42	48	96	51	67	73	82	63
NWC days	117	101	83	26	18	-8	-15	13
Leverage
Current ratio	3.56	1.41	1.76	1.47	1.36	1.05	0.9	1.39
Debt to EBITDA	2.92	3.96	4.02	5.15	4.61	2.92	2.41	2.41
Debt to equity	0.98	1.06	1.14	1.2	1.11	0.87	0.73	0.57
Interest coverage	4.6	4.8	3.8	3.3	3.8	4.7	5.7	4.2
Asset turnover	0.24	0.19	0.17	0.17	0.18	0.22	0.23	0.21
Return ratios
Return on assets %	7.8%	7.2%	6.7%	5.1%	4.7%	6.8%	8.2%	6.9%
Return on capital employed %	17.1%	14.7%	15%	10.9%	9.7%	13.1%	14.7%	13.7%
Return on equity %	17.5%	16.5%	16.5%	12.5%	11.8%	15.3%	17.7%	13.3%

Calls	Strike	Puts
0	0	0	₹0.0	1,320

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Adani Ports And Special Economic Zone LimitedADANIPORTSADANIPORTS	₹4,00,389 Cr	₹4,55,492 Cr	₹40,430 Cr	₹23,897 Cr	59%	₹11,022 Cr	33%	13.7%	1.2%	13
Jsw Infrastructure LimitedJSWINFRAJSWINFRA	₹83,286 Cr	₹89,696 Cr	₹5,582 Cr	₹2,696 Cr	48.6%	₹1,485 Cr	28.9%	13.8%	14.8%	42
Gujarat Pipavav Port LimitedGPPLGPPL	₹8,019 Cr	₹8,019 Cr	₹1,241 Cr	₹775 Cr	61.1%	₹559 Cr	44.5%	25.3%	21.8%	-23
Allcargo Terminals LimitedATLATL	₹689 Cr	₹689 Cr	₹848 Cr	₹174 Cr	19.7%	₹41 Cr	5.4%	11.3%	14.2%	-29
Starlog Enterprises LtdSTARLOGSTARLOG	₹57 Cr	—	₹10 Cr	₹-11 Cr	-110.8%	₹-13 Cr	-136.2%	-10.2%	-20.8%	—
VMS Industries LtdVMSVMS	₹45 Cr	₹74 Cr	₹153 Cr	₹0 Cr	-0.2%	₹1 Cr	1.9%	6.1%	3%	101

93 deals · 9 Aug 2021 – 4 May 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
4 May 2026	WORLDWIDE EMERGING MARKET HOLDING LIMITED	Bulk	BSE	Sell	4,58,58,705	₹1,632.45	₹7,486.20 Cr
4 May 2026	CAPITAL GROUP INTERNATIONAL ALL COUNTRIES EQUITY TRUST (US)	Block	BSE	Buy	2,46,28,712	₹1,632.45	₹4,020.51 Cr
4 May 2026	WORLDWIDE EMERGING MARKET HOLDING LIMITED	Block	BSE	Sell	2,46,28,712	₹1,632.45	₹4,020.51 Cr
4 May 2026	WORLDWIDE EMERGING MARKET HOLDING LIMITED	Block	BSE	Sell	1,74,49,024	₹1,632.45	₹2,848.47 Cr
4 May 2026	EUROPACIFIC GROWTH FUND	Block	BSE	Buy	1,74,49,024	₹1,632.45	₹2,848.47 Cr
4 May 2026	EUROPACIFIC GROWTH FUND	Bulk	BSE	Buy	1,36,50,858	₹1,632.45	₹2,228.43 Cr
4 May 2026	CAPITAL GROUP INTERNATIONAL ALL COUNTRIES EQUITY TRUST (US)	Bulk	BSE	Buy	1,19,31,129	₹1,632.45	₹1,947.70 Cr
4 May 2026	CAPITAL INCOME BUILDER	Block	BSE	Buy	37,80,969	₹1,632.45	₹617.22 Cr
4 May 2026	WORLDWIDE EMERGING MARKET HOLDING LIMITED	Block	BSE	Sell	37,80,969	₹1,632.45	₹617.22 Cr
18 Nov 2025	RELIANCE TRUST INSTITUTIONAL RETIREMENT TRUST SERIES ELEVEN	Block	NSE	Sell	55,73,557	₹1,507.60	₹840.27 Cr

1–10 of 93

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Date	Category	Subject	Filing
30 Sept 2026, 10:49 pm	Company Update General	Media Release	PDF
29 Sept 2026, 7:19 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
29 Sept 2026, 12:31 am	Company Update General	Announcement Under Regulation 30 (LODR) -Update	PDF
11 Sept 2026, 1:26 am	Company Update General	Announcement Under Regulation 30 (LODR) - Update	PDF
9 Sept 2026, 2:12 pm	Company Update Award of Order / Receipt of Order	Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order	PDF
7 Sept 2026, 1:34 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
3 Sept 2026, 11:22 pm	Company Update General	Media Release	PDF
2 Sept 2026, 8:07 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,381	4,063	5,608	6,029	7,402	7,556	9,800	11,933	15,018	17,226	20,356
	-4,153	-2,639	-3,846	-4,424	-750	-14,143	-7,423	-16,939	-6,768	-8,480	-13,118
	2,170	-1,325	-1,889	2,313	-4,256	3,592	2,042	-2,734	-7,800	-6,916	-5,483
Net cash flow	—	—	—	—	—	-2,994	4,419	-7,739	450	1,831	1,755
Free cash flow	256	314	2,876	6,029	—	5,602	6,051	2,808	7,601	9,177	5,036
CFO / Operating profit %	—	—	79.4%	91.5%	—	86.9%	110.4%	109%	94.7%	90.6%	89.1%

Adani Ports And Special Economic Zone Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Futures3

Option chain38

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends23

Board meetings1

Stock splits1

Announcements

Dividends23

Board meetings1

Stock splits1

Ratio timeline

Futures3

Option chain38

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Assets/Liabilities held for sale · revenue

3

38

23

1

1

23

1

1

3

38