Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated: April 2, 2026, 2:33 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532921 | NSE: ADANIPORTS

Adani Ports & Special Economic Zone Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,112.94Overvalued by 19.64%vs CMP ₹1,385.00

P/E (25.3) × ROE (18.8%) × BV (₹291.00) × DY (0.51%)

₹725.23Overvalued by 47.64%vs CMP ₹1,385.00
MoS: -91% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,332.6123%Fair (-3.8%)
Graham NumberEarnings₹610.5317%Over (-55.9%)
Earnings PowerEarnings₹47.8211%Over (-96.5%)
DCFCash Flow₹1,070.6211%Over (-22.7%)
Net Asset ValueAssets₹291.067%Over (-79%)
EV/EBITDAEnterprise₹730.489%Over (-47.3%)
Earnings YieldEarnings₹569.307%Over (-58.9%)
ROCE CapitalReturns₹561.947%Over (-59.4%)
Revenue MultipleRevenue₹198.356%Over (-85.7%)
Consensus (9 models)₹725.23100%Overvalued
Key Drivers: Wide model spread (₹48–₹1,333) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 19.7%

*Investments are subject to market risks

Investment Snapshot

70
Adani Ports & Special Economic Zone Ltd scores 70/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health71/100 · Strong
ROCE 13.8% GoodROE 18.8% ExcellentD/E 1.13 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changeDII holding down 0.84% MF sellingPromoter increased by 2.13% Positive
Earnings Quality75/100 · Strong
OPM expanding (54% → 59%) ImprovingWorking capital: -114 days (improving) Efficient
Quarterly Momentum78/100 · Strong
Revenue (4Q): +24% YoY AcceleratingProfit (4Q): +24% YoY Positive
Industry Rank60/100 · Moderate
P/E 25.3 vs industry 24.5 In-lineROCE 13.8% vs industry 17.5% Average3Y sales CAGR: 21% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:33 am

Market Cap 3,19,190 Cr.
Current Price 1,385
Intrinsic Value₹725.23
High / Low 1,584/1,041
Stock P/E25.3
Book Value 291
Dividend Yield0.51 %
ROCE13.8 %
ROE18.8 %
Face Value 2.00
PEG Ratio1.28

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Adani Ports & Special Economic Zone Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Adani Ports & Special Economic Zone Ltd 3,19,190 Cr. 1,385 1,584/1,04125.3 2910.51 %13.8 %18.8 % 2.00
JSW Infrastructure Ltd 52,070 Cr. 248 349/23932.1 48.60.32 %13.9 %16.2 % 2.00
Gujarat Pipavav Port Ltd 7,092 Cr. 147 200/12116.1 45.05.59 %24.9 %19.0 % 10.0
Industry Average126,117.33 Cr593.3324.50128.202.14%17.53%18.00%4.67

All Competitor Stocks of Adani Ports & Special Economic Zone Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 4,7865,7976,2486,6466,9206,8967,5607,0677,9648,4889,1269,1679,705
Expenses 2,0902,5262,5582,9822,7242,8872,8202,7003,1613,4823,6313,8273,919
Operating Profit 2,6963,2713,6893,6644,1964,0094,7394,3674,8025,0065,4955,3405,786
OPM % 56%56%59%55%61%58%63%62%60%59%60%58%60%
Other Income 285-885384351507-70349254247426453837189
Interest 5346236335209766194846599237158461,223980
Depreciation 8848469509749859791,0121,0771,1061,1851,2551,2641,384
Profit before tax 1,5649172,4912,5212,7412,3413,5932,8853,0203,5323,8483,6903,611
Tax % 15%-24%15%30%19%14%14%16%17%14%14%15%16%
Net Profit 1,3371,1392,1191,7622,2082,0153,1072,4132,5183,0233,3113,1203,043
EPS in Rs 6.095.369.798.0910.229.4414.4111.3211.6713.9515.3414.3913.25

Last Updated: February 6, 2026, 9:17 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 2:08 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4,8306,1527,1098,43911,32310,92511,87312,55017,11920,85226,71130,47536,487
Expenses 1,9102,2502,5323,0214,1664,3305,9263,8627,5919,90511,12112,33514,859
Operating Profit 2,9193,9024,5775,4187,1576,5965,9478,6889,52810,94715,58918,14121,627
OPM % 60%63%64%64%63%60%50%69%56%52%58%60%59%
Other Income 6856867301,0378441,2891,9281,9671,8323276711,8001,904
Interest 9771,1751,1241,1161,5791,3851,9512,2552,5442,3632,7332,5323,764
Depreciation 6499121,0631,1601,1881,3731,6802,1073,0993,4253,8884,3795,087
Profit before tax 1,9782,5013,1194,1795,2345,1264,2446,2925,7175,4879,63913,03014,681
Tax % 12%7%9%7%30%21%11%20%13%2%16%15%
Net Profit 1,7412,3242,8563,9023,6904,0453,7855,0494,9535,3918,10411,06112,497
EPS in Rs 8.4011.1813.9918.8917.7419.2718.5224.5823.1324.5837.5551.3556.93
Dividend Payout % 12%10%8%7%11%1%17%20%22%20%16%14%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)33.49%22.89%36.62%-5.43%9.62%-6.43%33.39%-1.90%8.84%50.32%36.49%
Change in YoY Net Profit Growth (%)0.00%-10.59%13.73%-42.06%15.05%-16.05%39.82%-35.30%10.74%41.48%-13.84%

Adani Ports & Special Economic Zone Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:17%
5 Years:21%
3 Years:21%
TTM:17%
Compounded Profit Growth
10 Years:17%
5 Years:23%
3 Years:27%
TTM:19%
Stock Price CAGR
10 Years:15%
5 Years:30%
3 Years:16%
1 Year:-10%
Return on Equity
10 Years:18%
5 Years:17%
3 Years:17%
Last Year:19%

Last Updated: September 4, 2025, 10:10 pm

Balance Sheet

Last Updated: December 4, 2025, 12:54 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 414414414414414414406406422432432432432
Reserves 8,35110,35113,09117,11220,48923,95825,05130,03541,39944,95752,34661,83766,646
Borrowings 12,97917,77622,34222,21422,37027,71230,24235,85547,93553,43449,47051,62156,851
Other Liabilities 2,9333,5412,5383,6293,9604,2286,2178,2858,57213,74014,75119,55323,279
Total Liabilities 24,67732,08238,38543,36947,23356,31161,91774,58298,328112,563116,999133,443147,207
Fixed Assets 13,16320,52720,88321,05422,67028,12132,71548,29162,55372,22475,14889,61696,622
CWIP 2,0251,2761,9674,5144,5454,4833,2163,6974,0236,63710,93611,70610,104
Investments 632605451,1611,0797821,1782,2363,1617,4324,2894,6595,195
Other Assets 9,42610,02014,99016,64118,93822,92424,80820,35828,59126,27126,62727,46135,287
Total Assets 24,67732,08238,38543,36947,23356,31161,91774,58298,328112,563116,999133,443147,207

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 1,1323,0572,3814,0635,6086,0297,4027,55610,42011,90015,01817,226
Cash from Investing Activity + -2,510-2,485-4,153-2,629-3,846-4,368-749-14,064-5,493-16,716-6,947-9,788
Cash from Financing Activity + 772-2372,170-1,325-1,8892,313-4,2563,514-586-2,734-7,800-6,916
Net Cash Flow -606335398109-1273,9752,397-2,9944,341-7,550271523
Free Cash Flow 301,8282703152,9103,1433,8435,2086,7742,9627,6289,228
CFO/OP 57%91%68%88%92%108%139%97%119%116%104%103%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-10.00-14.00-18.00-17.00-15.00-21.00-25.00-27.00-38.00-43.00-34.00-33.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 707612511613993988554695053
Inventory Days
Days Payable
Cash Conversion Cycle 707612511613993988554695053
Working Capital Days 16829-116107219-74-6-5-85-56-101-114
ROCE %14%14%13%14%17%14%12%14%11%10%13%14%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 61.03%62.89%65.53%65.89%65.89%65.89%65.89%65.89%65.89%65.89%65.89%68.02%
FIIs 17.99%16.99%13.83%14.72%14.98%15.19%15.22%13.94%13.43%13.53%13.61%13.10%
DIIs 13.02%12.45%13.27%12.01%11.84%12.48%13.26%14.20%14.73%15.15%15.03%13.89%
Public 7.95%7.66%7.37%7.39%7.30%6.44%5.62%5.96%5.94%5.46%5.48%4.99%
No. of Shareholders 10,98,59610,24,1119,44,1669,70,2479,91,00112,74,01011,86,67012,53,85812,62,91111,85,33511,66,91411,22,537

Shareholding Pattern Chart

No. of Shareholders

Adani Ports & Special Economic Zone Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Equity Hybrid Fund 9,000,000 1.57 1277.82N/AN/AN/A
HDFC Large Cap Fund 3,823,349 1.37 542.84N/AN/AN/A
ICICI Prudential Focused Equity Fund 3,112,876 2.96 441.971,831,3652026-02-23 00:52:0569.98%
Aditya Birla Sun Life ELSS Tax Saver Fund 2,494,440 2.36 354.16N/AN/AN/A
ICICI Prudential Equity Savings Fund 2,385,450 1.87 338.692,490,4002025-12-07 00:53:32-4.21%
Mirae Asset Large Cap Fund 2,061,959 0.73 292.76N/AN/AN/A
Aditya Birla Sun Life Focused Fund 1,924,024 3.39 273.171,784,0242026-02-23 02:23:067.85%
ICICI Prudential Infrastructure Fund 1,700,000 2.99 241.371,854,9342026-01-26 02:00:37-8.35%
Helios Flexi Cap Fund 1,687,805 4.03 239.63N/AN/AN/A
Aditya Birla Sun Life Flexi Cap Fund 1,549,097 0.89 219.94N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 51.3537.5524.5822.3924.58
Diluted EPS (Rs.) 51.3537.5524.5822.3924.58
Cash EPS (Rs.) 70.8256.2740.5934.7635.29
Book Value[Excl.RevalReserv]/Share (Rs.) 288.26251.73216.45182.15157.04
Book Value[Incl.RevalReserv]/Share (Rs.) 288.26251.73216.45182.15157.04
Revenue From Operations / Share (Rs.) 143.87123.6596.5375.4361.77
PBDIT / Share (Rs.) 94.1180.3857.8752.2352.51
PBIT / Share (Rs.) 73.8462.3842.0239.2642.14
PBT / Share (Rs.) 59.6647.4825.1925.3231.04
Net Profit / Share (Rs.) 50.5538.2624.7421.7924.92
NP After MI And SOA / Share (Rs.) 51.3537.5524.5822.3824.58
PBDIT Margin (%) 65.4165.0059.9469.2485.01
PBIT Margin (%) 51.3250.4443.5352.0568.22
PBT Margin (%) 41.4638.3926.0933.5650.25
Net Profit Margin (%) 35.1330.9425.6328.8840.34
NP After MI And SOA Margin (%) 35.6930.3625.4629.6739.79
Return on Networth / Equity (%) 17.8115.3611.6912.4116.40
Return on Capital Employeed (%) 13.9413.158.909.9012.54
Return On Assets (%) 8.196.824.624.986.61
Long Term Debt / Equity (X) 0.570.711.021.041.08
Total Debt / Equity (X) 0.730.871.091.191.13
Asset Turnover Ratio (%) 0.240.220.190.050.07
Current Ratio (X) 0.901.061.351.601.78
Quick Ratio (X) 0.871.031.311.561.65
Inventory Turnover Ratio (X) 64.790.000.000.000.00
Dividend Payout Ratio (NP) (%) 11.6813.3119.8821.590.00
Dividend Payout Ratio (CP) (%) 8.379.0012.0913.670.00
Earning Retention Ratio (%) 88.3286.6980.1278.410.00
Cash Earning Retention Ratio (%) 91.6391.0087.9186.330.00
Interest Coverage Ratio (X) 7.236.105.294.344.73
Interest Coverage Ratio (Post Tax) (X) 4.974.043.802.973.24
Enterprise Value (Cr.) 297082.54330072.91183387.32198870.73173946.36
EV / Net Operating Revenue (X) 9.5612.368.7912.4813.86
EV / EBITDA (X) 14.6119.0114.6718.0216.30
MarketCap / Net Operating Revenue (X) 8.2210.856.5510.2611.38
Retention Ratios (%) 88.3186.6880.1178.400.00
Price / BV (X) 4.105.493.004.294.69
Price / Net Operating Revenue (X) 8.2210.856.5510.2611.38
EarningsYield 0.040.020.030.020.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Adani Ports & Special Economic Zone Ltd. is a Public Limited Listed company incorporated on 26/05/1998 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L63090GJ1998PLC034182 and registration number is 034182. Currently Company is involved in the business activities of Cargo handling incidental to water transport. Company's Total Operating Revenue is Rs. 8004.88 Cr. and Equity Capital is Rs. 432.03 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Port & Port ServicesAdani Corporate House, Shantigram, Ahmedabad Gujarat 382421Contact not found
Management
NamePosition Held
Mr. Gautam S AdaniChairman
Mr. Karan AdaniManaging Director
Mr. Ashwani GuptaWholeTime Director & CEO
Mr. Rajkumar BeniwalNon Exe.Non Ind.Director
Mr. Rajesh S AdaniNon Exe.Non Ind.Director
Mr. P S JayakumarIndependent Director
Mr. Bharat ShethIndependent Director
Mrs. M V BhanumathiIndependent Director
Mr. P K PujariIndependent Director
Dr. Ravindra DholakiaIndependent Director

FAQ

What is the intrinsic value of Adani Ports & Special Economic Zone Ltd and is it undervalued?

As of 10 April 2026, Adani Ports & Special Economic Zone Ltd's intrinsic value is ₹725.23, which is 47.64% lower than the current market price of ₹1,385.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (18.8 %), book value (₹291), dividend yield (0.51 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Adani Ports & Special Economic Zone Ltd?

Adani Ports & Special Economic Zone Ltd is trading at ₹1,385.00 as of 10 April 2026, with a FY2026-2027 high of ₹1,584 and low of ₹1,041. The stock is currently in the middle of its 52-week range. Market cap stands at ₹3,19,190 Cr..

How does Adani Ports & Special Economic Zone Ltd's P/E ratio compare to its industry?

Adani Ports & Special Economic Zone Ltd has a P/E ratio of 25.3, which is above the industry average of 24.50. The premium over industry average may reflect growth expectations or speculative interest.

Is Adani Ports & Special Economic Zone Ltd financially healthy?

Key indicators for Adani Ports & Special Economic Zone Ltd: ROCE of 13.8 % is moderate; ROE of 18.8 % shows strong shareholder returns. Dividend yield is 0.51 %.

Is Adani Ports & Special Economic Zone Ltd profitable and how is the profit trend?

Adani Ports & Special Economic Zone Ltd reported a net profit of ₹11,061 Cr in Mar 2025 on revenue of ₹30,475 Cr. Compared to ₹4,953 Cr in Mar 2022, the net profit shows an improving trend.

Does Adani Ports & Special Economic Zone Ltd pay dividends?

Adani Ports & Special Economic Zone Ltd has a dividend yield of 0.51 % at the current price of ₹1,385.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Adani Ports & Special Economic Zone Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
Explore Industry-wise Stock Analysis Reports