Adani Ports and Special Economic Zone Ltd.
•₹ 1,7000.24%
2026-08-21
PROS
- Company has delivered good profit growth of 20.4% CAGR over last 5 years
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 25.3% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.65x)
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
CONS
- Receivables are growing faster than sales - a possible quality concern
- Working capital days have increased from -26 to 59 days
- Operating margins have contracted to 59.0% from 70.1%
- Recurring exceptional / one-off items are inflating headline profit
- Though reporting repeated profits, the company pays out little dividend (13.5%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | ADANIPORTS | 1679.50 | 29.51 | 386949.93 | 0.45 | 3649.50 | 10.24 | 10820.80 | 18.57 | 15.03 | 60.26 |
| 2. | JSWINFRA | 330.15 | 51.79 | 76925.00 | 0.27 | 357.60 | -8.21 | 1444.83 | 18.06 | 14.26 | 46.64 |
| 3. | GPPL | 165.00 | 14.28 | 7976.76 | 6.30 | 147.90 | 41.77 | 331.77 | 32.47 | 29.46 | 64.86 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6,248 | 6,646 | 6,920 | 6,896 | 7,560 | 7,067 | 7,964 | 8,488 | 9,126 | 9,167 | 9,705 | 10,738 | 10,821 | |
| 2,494 | 2,787 | 2,734 | 2,867 | 2,743 | 2,698 | 3,186 | 3,576 | 3,631 | 3,617 | 3,837 | 4,920 | 7,079 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 395 | 305 | 614 | 303 | 495 | 305 | 223 | 281 | 620 | 837 | 234 | 752 | 853 |
| Interest | 633 | 715 | 976 | 604 | 484 | 659 | 899 | 622 | 1,170 | 1,223 | 1,061 | 1,403 | 1,355 |
| Depreciation | 950 | 974 | 985 | 979 | 1,012 | 1,077 | 1,106 | 1,185 | 1,255 | 1,264 | 1,384 | 1,615 | 1,711 |
| 2,566 | 2,020 | 2,839 | 2,376 | 3,670 | 2,887 | 2,969 | 3,363 | 3,690 | 3,900 | 3,510 | 3,490 | 4,307 | |
| Tax % | 14.47% | 15.05% | 18.78% | 13.73% | 13.23% | 16.37% | 16.89% | 15.13% | 14.55% | 14.62% | 16.18% | 11.22% | 15.27% |
| Net Profit | 0 | 0 | 0 | 0 | 3,107 | 2,413 | 2,518 | 3,023 | 3,311 | 3,120 | 3,043 | 3,308 | 3,650 |
| 10 | 8 | 10 | 9 | 14 | 11 | 12 | 14 | 15 | 14 | 14 | 14 | 2 | |
| Equity Capital | 432 | 432 | 432 | 432 | 432 | 432 | 432 | 432 | 432 | 432 | 461 | 461 | 461 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 432 | 432 | 432 | 432 | 432 | 432 | 432 | 432 | 432 | 432 | 461 | 461 | 461 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 6,248
- 2,494
- Operating Profit
- —
- OPM %
- —
- Other Income
- 395
- Interest
- 633
- Depreciation
- 950
- 2,566
- Tax %
- 14.47%
- Net Profit
- 0
- 10
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 6,646
- 2,787
- Operating Profit
- —
- OPM %
- —
- Other Income
- 305
- Interest
- 715
- Depreciation
- 974
- 2,020
- Tax %
- 15.05%
- Net Profit
- 0
- 8
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 6,920
- 2,734
- Operating Profit
- —
- OPM %
- —
- Other Income
- 614
- Interest
- 976
- Depreciation
- 985
- 2,839
- Tax %
- 18.78%
- Net Profit
- 0
- 10
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 6,896
- 2,867
- Operating Profit
- —
- OPM %
- —
- Other Income
- 303
- Interest
- 604
- Depreciation
- 979
- 2,376
- Tax %
- 13.73%
- Net Profit
- 0
- 9
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 7,560
- 2,743
- Operating Profit
- —
- OPM %
- —
- Other Income
- 495
- Interest
- 484
- Depreciation
- 1,012
- 3,670
- Tax %
- 13.23%
- Net Profit
- 3,107
- 14
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 7,067
- 2,698
- Operating Profit
- —
- OPM %
- —
- Other Income
- 305
- Interest
- 659
- Depreciation
- 1,077
- 2,887
- Tax %
- 16.37%
- Net Profit
- 2,413
- 11
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 7,964
- 3,186
- Operating Profit
- —
- OPM %
- —
- Other Income
- 223
- Interest
- 899
- Depreciation
- 1,106
- 2,969
- Tax %
- 16.89%
- Net Profit
- 2,518
- 12
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 8,488
- 3,576
- Operating Profit
- —
- OPM %
- —
- Other Income
- 281
- Interest
- 622
- Depreciation
- 1,185
- 3,363
- Tax %
- 15.13%
- Net Profit
- 3,023
- 14
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 9,126
- 3,631
- Operating Profit
- —
- OPM %
- —
- Other Income
- 620
- Interest
- 1,170
- Depreciation
- 1,255
- 3,690
- Tax %
- 14.55%
- Net Profit
- 3,311
- 15
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 9,167
- 3,617
- Operating Profit
- —
- OPM %
- —
- Other Income
- 837
- Interest
- 1,223
- Depreciation
- 1,264
- 3,900
- Tax %
- 14.62%
- Net Profit
- 3,120
- 14
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 432
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 9,705
- 3,837
- Operating Profit
- —
- OPM %
- —
- Other Income
- 234
- Interest
- 1,061
- Depreciation
- 1,384
- 3,510
- Tax %
- 16.18%
- Net Profit
- 3,043
- 14
- Equity Capital
- 461
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 461
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 10,738
- 4,920
- Operating Profit
- —
- OPM %
- —
- Other Income
- 752
- Interest
- 1,403
- Depreciation
- 1,615
- 3,490
- Tax %
- 11.22%
- Net Profit
- 3,308
- 14
- Equity Capital
- 461
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 461
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 10,821
- 7,079
- Operating Profit
- —
- OPM %
- —
- Other Income
- 853
- Interest
- 1,355
- Depreciation
- 1,711
- 4,307
- Tax %
- 15.27%
- Net Profit
- 3,650
- 2
- Equity Capital
- 461
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 461
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 8,439 | 11,323 | 10,925 | 11,439 | 12,550 | 17,119 | 20,852 | 26,711 | 30,475 | 38,736 | 40,430 | |
| 3,025 | 4,499 | 4,334 | 5,934 | 4,566 | 7,594 | 8,018 | 10,847 | 12,054 | 15,884 | 19,453 | |
| Operating Profit | 6,732 | 7,835 | 7,997 | 7,938 | 10,669 | 11,764 | 14,617 | 17,415 | 20,575 | 24,970 | — |
| OPM % | 80 | 69 | 73 | 69 | 85 | 69 | 70 | 65 | 68 | 64 | — |
| Other Income | 1,318 | 1,011 | 1,405 | 2,433 | 2,685 | 2,239 | 1,784 | 1,551 | 2,154 | 2,119 | 2,675 |
| Interest | 1,393 | 1,257 | 1,428 | 1,951 | 2,255 | 2,560 | 4,480 | 2,897 | 3,059 | 4,654 | 5,042 |
| Depreciation | 1,160 | 1,188 | 1,373 | 1,680 | 2,107 | 3,099 | 3,425 | 3,888 | 4,379 | 5,517 | 5,974 |
| 4,179 | 5,234 | 5,126 | 4,244 | 6,292 | 5,717 | 5,487 | 10,094 | 13,030 | 14,849 | 15,208 | |
| Tax % | 7 | 30 | 21 | 11 | 20 | 13 | 2 | 20 | 15 | 14 | 14 |
| Net Profit | 3,892 | 3,690 | 4,045 | 3,785 | 5,049 | 4,953 | 5,391 | 8,104 | 11,061 | 12,782 | 13,021 |
| EPS | 19 | 18 | 19 | 18 | 25 | 23 | 25 | 38 | 51 | 56 | — |
| Dividend Payout % | 7 | 11 | 1 | 17 | 20 | 22 | 20 | 16 | 14 | 13 | — |
| Minority Interest | 10 | -16 | -55 | -21 | -54 | -67 | -82 | 7 | 31 | 24 | -201 |
| Share of Associates | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -187 |
| Adjusted EPS | 19 | 18 | 19 | 19 | 25 | 23 | 25 | 38 | 51 | 56 | — |
| Minority Interest | 10 | -16 | -55 | -21 | -54 | -67 | -82 | 7 | 31 | 24 | -201 |
| Share of Associates | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -187 |
| Adjusted EPS | 19 | 18 | 19 | 19 | 25 | 23 | 25 | 38 | 51 | 56 | — |
Mar 2017
- 8,439
- 3,025
- Operating Profit
- 6,732
- OPM %
- 80
- Other Income
- 1,318
- Interest
- 1,393
- Depreciation
- 1,160
- 4,179
- Tax %
- 7
- Net Profit
- 3,892
- EPS
- 19
- Dividend Payout %
- 7
- Minority Interest
- 10
- Share of Associates
- 9
- Adjusted EPS
- 19
- Minority Interest
- 10
- Share of Associates
- 9
- Adjusted EPS
- 19
Mar 2018
- 11,323
- 4,499
- Operating Profit
- 7,835
- OPM %
- 69
- Other Income
- 1,011
- Interest
- 1,257
- Depreciation
- 1,188
- 5,234
- Tax %
- 30
- Net Profit
- 3,690
- EPS
- 18
- Dividend Payout %
- 11
- Minority Interest
- -16
- Share of Associates
- 0
- Adjusted EPS
- 18
- Minority Interest
- -16
- Share of Associates
- 0
- Adjusted EPS
- 18
Mar 2019
- 10,925
- 4,334
- Operating Profit
- 7,997
- OPM %
- 73
- Other Income
- 1,405
- Interest
- 1,428
- Depreciation
- 1,373
- 5,126
- Tax %
- 21
- Net Profit
- 4,045
- EPS
- 19
- Dividend Payout %
- 1
- Minority Interest
- -55
- Share of Associates
- 0
- Adjusted EPS
- 19
- Minority Interest
- -55
- Share of Associates
- 0
- Adjusted EPS
- 19
Mar 2020
- 11,439
- 5,934
- Operating Profit
- 7,938
- OPM %
- 69
- Other Income
- 2,433
- Interest
- 1,951
- Depreciation
- 1,680
- 4,244
- Tax %
- 11
- Net Profit
- 3,785
- EPS
- 18
- Dividend Payout %
- 17
- Minority Interest
- -21
- Share of Associates
- 0
- Adjusted EPS
- 19
- Minority Interest
- -21
- Share of Associates
- 0
- Adjusted EPS
- 19
Mar 2021
- 12,550
- 4,566
- Operating Profit
- 10,669
- OPM %
- 85
- Other Income
- 2,685
- Interest
- 2,255
- Depreciation
- 2,107
- 6,292
- Tax %
- 20
- Net Profit
- 5,049
- EPS
- 25
- Dividend Payout %
- 20
- Minority Interest
- -54
- Share of Associates
- 0
- Adjusted EPS
- 25
- Minority Interest
- -54
- Share of Associates
- 0
- Adjusted EPS
- 25
Mar 2022
- 17,119
- 7,594
- Operating Profit
- 11,764
- OPM %
- 69
- Other Income
- 2,239
- Interest
- 2,560
- Depreciation
- 3,099
- 5,717
- Tax %
- 13
- Net Profit
- 4,953
- EPS
- 23
- Dividend Payout %
- 22
- Minority Interest
- -67
- Share of Associates
- 0
- Adjusted EPS
- 23
- Minority Interest
- -67
- Share of Associates
- 0
- Adjusted EPS
- 23
Mar 2023
- 20,852
- 8,018
- Operating Profit
- 14,617
- OPM %
- 70
- Other Income
- 1,784
- Interest
- 4,480
- Depreciation
- 3,425
- 5,487
- Tax %
- 2
- Net Profit
- 5,391
- EPS
- 25
- Dividend Payout %
- 20
- Minority Interest
- -82
- Share of Associates
- 0
- Adjusted EPS
- 25
- Minority Interest
- -82
- Share of Associates
- 0
- Adjusted EPS
- 25
Mar 2024
- 26,711
- 10,847
- Operating Profit
- 17,415
- OPM %
- 65
- Other Income
- 1,551
- Interest
- 2,897
- Depreciation
- 3,888
- 10,094
- Tax %
- 20
- Net Profit
- 8,104
- EPS
- 38
- Dividend Payout %
- 16
- Minority Interest
- 7
- Share of Associates
- 0
- Adjusted EPS
- 38
- Minority Interest
- 7
- Share of Associates
- 0
- Adjusted EPS
- 38
Mar 2025
- 30,475
- 12,054
- Operating Profit
- 20,575
- OPM %
- 68
- Other Income
- 2,154
- Interest
- 3,059
- Depreciation
- 4,379
- 13,030
- Tax %
- 15
- Net Profit
- 11,061
- EPS
- 51
- Dividend Payout %
- 14
- Minority Interest
- 31
- Share of Associates
- 0
- Adjusted EPS
- 51
- Minority Interest
- 31
- Share of Associates
- 0
- Adjusted EPS
- 51
Mar 2026
- 38,736
- 15,884
- Operating Profit
- 24,970
- OPM %
- 64
- Other Income
- 2,119
- Interest
- 4,654
- Depreciation
- 5,517
- 14,849
- Tax %
- 14
- Net Profit
- 12,782
- EPS
- 56
- Dividend Payout %
- 13
- Minority Interest
- 24
- Share of Associates
- 0
- Adjusted EPS
- 56
- Minority Interest
- 24
- Share of Associates
- 0
- Adjusted EPS
- 56
TTM
- 40,430
- 19,453
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2,675
- Interest
- 5,042
- Depreciation
- 5,974
- 15,208
- Tax %
- 14
- Net Profit
- 13,021
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- -201
- Share of Associates
- -187
- Adjusted EPS
- —
- Minority Interest
- -201
- Share of Associates
- -187
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 18%
- 5 Years:
- 25%
- 3 Years:
- 23%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 16%
- 5 Years:
- 21%
- 3 Years:
- 34%
STOCK PRICE CAGR
- 10 Years:
- 20%
- 5 Years:
- 20%
- 3 Years:
- 25%
- 1 Year:
- 24%
RETURN ON EQUITY
- 10 Years:
- 17%
- 5 Years:
- 16%
- 3 Years:
- 17%
- Last Year:
- 16%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| 414 | 414 | 414 | 406 | 406 | 422 | 432 | 432 | 432 | 461 | |
| 16,946 | 20,489 | 24,124 | 25,051 | 30,035 | 37,794 | 44,957 | 52,346 | 61,837 | 95,498 | |
| 3,991 | 1,510 | 7,499 | 2,687 | 2,004 | 6,006 | 3,844 | 5,412 | 2,321 | 2,201 | |
| Trade Payables | 456 | 490 | 572 | 729 | 1,014 | 1,160 | 2,296 | 1,912 | 2,720 | 2,736 |
| 19,786 | 23,161 | 22,890 | 32,121 | 41,122 | 52,946 | 61,034 | 56,897 | 66,132 | 82,202 | |
| Total Liabilities | 41,594 | 46,065 | 55,499 | 60,994 | 74,582 | 98,328 | 1,12,563 | 1,16,999 | 1,33,443 | 1,83,099 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 21,054 | 22,670 | 28,121 | 32,715 | 48,291 | 62,553 | 70,922 | 73,803 | 88,157 | 1,29,793 | |
| Capital Work in Progress | 4,514 | 4,545 | 4,483 | 3,216 | 3,697 | 4,023 | 6,637 | 10,936 | 11,592 | 12,672 |
| 1,161 | 1,079 | 782 | 1,178 | 2,236 | 3,161 | 7,432 | 4,289 | 4,659 | 5,449 | |
| 657 | 520 | 807 | 288 | 992 | 396 | 452 | 438 | 522 | 685 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,667 | 4,432 | 6,383 | |
| Cash & Bank | 1,977 | 2,968 | 5,967 | 7,314 | 4,701 | 10,667 | 4,334 | 7,632 | 6,606 | 8,484 |
| 12,231 | 14,282 | 15,338 | 16,283 | 14,665 | 17,528 | 22,787 | 16,236 | 17,474 | 19,633 | |
| Total Assets | 41,594 | 46,065 | 55,499 | 60,994 | 74,582 | 98,328 | 1,12,563 | 1,16,999 | 1,33,443 | 1,83,099 |
| Total Debt | 22,214 | 22,204 | 27,546 | 30,076 | 34,941 | 45,752 | 50,518 | 46,279 | 45,810 | 55,103 |
| Net Working Capital | 5,352 | 10,278 | 4,279 | 7,123 | 5,432 | 5,127 | 4,646 | 870 | -2,181 | 6,214 |
| Contingent Liabilities | 1,331 | 1,272 | 1,835 | 1,446 | 506 | 839 | 1,469 | 1,304 | 1,472 | 1,473 |
| Book Value per Share | 83.83 | 100.93 | 118.49 | 125.30 | 149.83 | 180.92 | 210.12 | 244.33 | 288.26 | 416.50 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
| Total Debt | 22,214 | 22,204 | 27,546 | 30,076 | 34,941 | 45,752 | 50,518 | 46,279 | 45,810 | 55,103 |
| Net Working Capital | 5,352 | 10,278 | 4,279 | 7,123 | 5,432 | 5,127 | 4,646 | 870 | -2,181 | 6,214 |
| Contingent Liabilities | 1,331 | 1,272 | 1,835 | 1,446 | 506 | 839 | 1,469 | 1,304 | 1,472 | 1,473 |
| Book Value per Share | 83.83 | 100.93 | 118.49 | 125.30 | 149.83 | 180.92 | 210.12 | 244.33 | 288.26 | 416.50 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
Mar 2017
- 414
- 16,946
- 3,991
- Trade Payables
- 456
- 19,786
- Total Liabilities
- 41,594
- 21,054
- Capital Work in Progress
- 4,514
- 1,161
- 657
- 0
- Cash & Bank
- 1,977
- 12,231
- Total Assets
- 41,594
- Total Debt
- 22,214
- Net Working Capital
- 5,352
- Contingent Liabilities
- 1,331
- Book Value per Share
- 83.83
- Face Value
- 2.00
- Total Debt
- 22,214
- Net Working Capital
- 5,352
- Contingent Liabilities
- 1,331
- Book Value per Share
- 83.83
- Face Value
- 2.00
Mar 2018
- 414
- 20,489
- 1,510
- Trade Payables
- 490
- 23,161
- Total Liabilities
- 46,065
- 22,670
- Capital Work in Progress
- 4,545
- 1,079
- 520
- 0
- Cash & Bank
- 2,968
- 14,282
- Total Assets
- 46,065
- Total Debt
- 22,204
- Net Working Capital
- 10,278
- Contingent Liabilities
- 1,272
- Book Value per Share
- 100.93
- Face Value
- 2.00
- Total Debt
- 22,204
- Net Working Capital
- 10,278
- Contingent Liabilities
- 1,272
- Book Value per Share
- 100.93
- Face Value
- 2.00
Mar 2019
- 414
- 24,124
- 7,499
- Trade Payables
- 572
- 22,890
- Total Liabilities
- 55,499
- 28,121
- Capital Work in Progress
- 4,483
- 782
- 807
- 0
- Cash & Bank
- 5,967
- 15,338
- Total Assets
- 55,499
- Total Debt
- 27,546
- Net Working Capital
- 4,279
- Contingent Liabilities
- 1,835
- Book Value per Share
- 118.49
- Face Value
- 2.00
- Total Debt
- 27,546
- Net Working Capital
- 4,279
- Contingent Liabilities
- 1,835
- Book Value per Share
- 118.49
- Face Value
- 2.00
Mar 2020
- 406
- 25,051
- 2,687
- Trade Payables
- 729
- 32,121
- Total Liabilities
- 60,994
- 32,715
- Capital Work in Progress
- 3,216
- 1,178
- 288
- 0
- Cash & Bank
- 7,314
- 16,283
- Total Assets
- 60,994
- Total Debt
- 30,076
- Net Working Capital
- 7,123
- Contingent Liabilities
- 1,446
- Book Value per Share
- 125.30
- Face Value
- 2.00
- Total Debt
- 30,076
- Net Working Capital
- 7,123
- Contingent Liabilities
- 1,446
- Book Value per Share
- 125.30
- Face Value
- 2.00
Mar 2021
- 406
- 30,035
- 2,004
- Trade Payables
- 1,014
- 41,122
- Total Liabilities
- 74,582
- 48,291
- Capital Work in Progress
- 3,697
- 2,236
- 992
- 0
- Cash & Bank
- 4,701
- 14,665
- Total Assets
- 74,582
- Total Debt
- 34,941
- Net Working Capital
- 5,432
- Contingent Liabilities
- 506
- Book Value per Share
- 149.83
- Face Value
- 2.00
- Total Debt
- 34,941
- Net Working Capital
- 5,432
- Contingent Liabilities
- 506
- Book Value per Share
- 149.83
- Face Value
- 2.00
Mar 2022
- 422
- 37,794
- 6,006
- Trade Payables
- 1,160
- 52,946
- Total Liabilities
- 98,328
- 62,553
- Capital Work in Progress
- 4,023
- 3,161
- 396
- 0
- Cash & Bank
- 10,667
- 17,528
- Total Assets
- 98,328
- Total Debt
- 45,752
- Net Working Capital
- 5,127
- Contingent Liabilities
- 839
- Book Value per Share
- 180.92
- Face Value
- 2.00
- Total Debt
- 45,752
- Net Working Capital
- 5,127
- Contingent Liabilities
- 839
- Book Value per Share
- 180.92
- Face Value
- 2.00
Mar 2023
- 432
- 44,957
- 3,844
- Trade Payables
- 2,296
- 61,034
- Total Liabilities
- 1,12,563
- 70,922
- Capital Work in Progress
- 6,637
- 7,432
- 452
- 0
- Cash & Bank
- 4,334
- 22,787
- Total Assets
- 1,12,563
- Total Debt
- 50,518
- Net Working Capital
- 4,646
- Contingent Liabilities
- 1,469
- Book Value per Share
- 210.12
- Face Value
- 2.00
- Total Debt
- 50,518
- Net Working Capital
- 4,646
- Contingent Liabilities
- 1,469
- Book Value per Share
- 210.12
- Face Value
- 2.00
Mar 2024
- 432
- 52,346
- 5,412
- Trade Payables
- 1,912
- 56,897
- Total Liabilities
- 1,16,999
- 73,803
- Capital Work in Progress
- 10,936
- 4,289
- 438
- 3,667
- Cash & Bank
- 7,632
- 16,236
- Total Assets
- 1,16,999
- Total Debt
- 46,279
- Net Working Capital
- 870
- Contingent Liabilities
- 1,304
- Book Value per Share
- 244.33
- Face Value
- 2.00
- Total Debt
- 46,279
- Net Working Capital
- 870
- Contingent Liabilities
- 1,304
- Book Value per Share
- 244.33
- Face Value
- 2.00
Mar 2025
- 432
- 61,837
- 2,321
- Trade Payables
- 2,720
- 66,132
- Total Liabilities
- 1,33,443
- 88,157
- Capital Work in Progress
- 11,592
- 4,659
- 522
- 4,432
- Cash & Bank
- 6,606
- 17,474
- Total Assets
- 1,33,443
- Total Debt
- 45,810
- Net Working Capital
- -2,181
- Contingent Liabilities
- 1,472
- Book Value per Share
- 288.26
- Face Value
- 2.00
- Total Debt
- 45,810
- Net Working Capital
- -2,181
- Contingent Liabilities
- 1,472
- Book Value per Share
- 288.26
- Face Value
- 2.00
Mar 2026
- 461
- 95,498
- 2,201
- Trade Payables
- 2,736
- 82,202
- Total Liabilities
- 1,83,099
- 1,29,793
- Capital Work in Progress
- 12,672
- 5,449
- 685
- 6,383
- Cash & Bank
- 8,484
- 19,633
- Total Assets
- 1,83,099
- Total Debt
- 55,103
- Net Working Capital
- 6,214
- Contingent Liabilities
- 1,473
- Book Value per Share
- 416.50
- Face Value
- 2.00
- Total Debt
- 55,103
- Net Working Capital
- 6,214
- Contingent Liabilities
- 1,473
- Book Value per Share
- 416.50
- Face Value
- 2.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 4,063 | 5,608 | 6,029 | 7,402 | 7,556 | 10,420 | 11,900 | 15,018 | 17,226 | 20,356 | |
| Cash from Investing | -2,639 | -3,846 | -4,424 | -750 | -14,143 | -5,282 | -19,560 | -6,947 | -9,787 | -13,191 |
| Cash from Financing | -1,325 | -1,889 | 2,313 | -4,256 | 3,514 | -586 | -2,734 | -7,800 | -6,916 | -5,483 |
| 98 | -127 | 3,919 | 2,396 | -3,073 | 4,553 | -10,394 | 271 | 523 | 1,682 | |
| Free Cash Flow | 52 | 2,571 | -692 | 2,384 | -10,457 | -6,912 | -2,266 | 4,686 | -1,526 | -28,321 |
| OCF / Net Profit | 1.04 | 1.52 | 1.49 | 1.96 | 1.50 | 2.10 | 2.21 | 1.85 | 1.56 | 1.59 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -6,143 | -13,107 | -17,944 | -12,566 | -16,475 | -34,339 |
| OCF / Net Profit | 1.04 | 1.52 | 1.49 | 1.96 | 1.50 | 2.10 | 2.21 | 1.85 | 1.56 | 1.59 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -6,143 | -13,107 | -17,944 | -12,566 | -16,475 | -34,339 |
Mar 2017
- 4,063
- Cash from Investing
- -2,639
- Cash from Financing
- -1,325
- 98
- Free Cash Flow
- 52
- OCF / Net Profit
- 1.04
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.04
- Cumulative 5-Year FCF
- 0
Mar 2018
- 5,608
- Cash from Investing
- -3,846
- Cash from Financing
- -1,889
- -127
- Free Cash Flow
- 2,571
- OCF / Net Profit
- 1.52
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.52
- Cumulative 5-Year FCF
- 0
Mar 2019
- 6,029
- Cash from Investing
- -4,424
- Cash from Financing
- 2,313
- 3,919
- Free Cash Flow
- -692
- OCF / Net Profit
- 1.49
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.49
- Cumulative 5-Year FCF
- 0
Mar 2020
- 7,402
- Cash from Investing
- -750
- Cash from Financing
- -4,256
- 2,396
- Free Cash Flow
- 2,384
- OCF / Net Profit
- 1.96
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.96
- Cumulative 5-Year FCF
- 0
Mar 2021
- 7,556
- Cash from Investing
- -14,143
- Cash from Financing
- 3,514
- -3,073
- Free Cash Flow
- -10,457
- OCF / Net Profit
- 1.50
- Cumulative 5-Year FCF
- -6,143
- OCF / Net Profit
- 1.50
- Cumulative 5-Year FCF
- -6,143
Mar 2022
- 10,420
- Cash from Investing
- -5,282
- Cash from Financing
- -586
- 4,553
- Free Cash Flow
- -6,912
- OCF / Net Profit
- 2.10
- Cumulative 5-Year FCF
- -13,107
- OCF / Net Profit
- 2.10
- Cumulative 5-Year FCF
- -13,107
Mar 2023
- 11,900
- Cash from Investing
- -19,560
- Cash from Financing
- -2,734
- -10,394
- Free Cash Flow
- -2,266
- OCF / Net Profit
- 2.21
- Cumulative 5-Year FCF
- -17,944
- OCF / Net Profit
- 2.21
- Cumulative 5-Year FCF
- -17,944
Mar 2024
- 15,018
- Cash from Investing
- -6,947
- Cash from Financing
- -7,800
- 271
- Free Cash Flow
- 4,686
- OCF / Net Profit
- 1.85
- Cumulative 5-Year FCF
- -12,566
- OCF / Net Profit
- 1.85
- Cumulative 5-Year FCF
- -12,566
Mar 2025
- 17,226
- Cash from Investing
- -9,787
- Cash from Financing
- -6,916
- 523
- Free Cash Flow
- -1,526
- OCF / Net Profit
- 1.56
- Cumulative 5-Year FCF
- -16,475
- OCF / Net Profit
- 1.56
- Cumulative 5-Year FCF
- -16,475
Mar 2026
- 20,356
- Cash from Investing
- -13,191
- Cash from Financing
- -5,483
- 1,682
- Free Cash Flow
- -28,321
- OCF / Net Profit
- 1.59
- Cumulative 5-Year FCF
- -34,339
- OCF / Net Profit
- 1.59
- Cumulative 5-Year FCF
- -34,339
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 18.89 | 17.74 | 19.27 | 18.52 | 24.58 | 23.13 | 24.58 | 37.55 | 51.35 | 55.58 |
| Book Value (₹) | 83.83 | 100.93 | 118.49 | 125.30 | 149.83 | 180.92 | 210.12 | 244.33 | 288.26 | 416.50 |
| Dividend per Share (₹) | 1.30 | 2.00 | 0.20 | 3.20 | 5.00 | 5.00 | 5.00 | 6.00 | 7.00 | 7.50 |
| Cash EPS (₹) | 24.40 | 23.56 | 26.16 | 26.90 | 35.22 | 38.12 | 40.81 | 55.52 | 71.48 | 79.43 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 79.77% | 69.20% | 73.20% | 69.39% | 85.01% | 68.72% | 70.10% | 59.39% | 60.45% | 58.99% |
| Net Margin % | 46.12% | 32.59% | 37.02% | 33.09% | 40.23% | 28.93% | 25.85% | 30.34% | 36.30% | 33.00% |
| ROE % | 25.36% | 19.29% | 17.80% | 15.14% | 18.06% | 14.43% | 12.90% | 16.51% | 19.23% | 16.16% |
| ROCE % | 14.74% | 15.64% | 13.75% | 11.49% | 14.10% | 10.80% | 10.84% | 13.30% | 15.51% | 15.03% |
| 9.88% | 8.42% | 7.96% | 6.50% | 7.45% | 5.73% | 5.11% | 7.06% | 8.83% | 8.08% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 111 | 113 | 119 | 96 | 89 | 58 | 57 | 52 | 49 | 51 |
| Inventory Days | 19 | 19 | 22 | 17 | 19 | 15 | 7 | 6 | 6 | 6 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 130 | 132 | 141 | 113 | 108 | 73 | 64 | 58 | 54 | 57 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 1.27x | 1.05x | 1.12x | 1.17x | 1.14x | 1.19x | 1.11x | 0.87x | 0.73x | 0.57x |
| Interest Coverage (x) | 4.00x | 5.16x | 4.59x | 3.18x | 3.79x | 3.23x | 2.22x | 4.48x | 5.26x | 4.19x |
| 1.82x | 3.56x | 1.41x | 1.93x | 1.76x | 1.46x | 1.42x | 1.05x | 0.90x | 1.39x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 18.72% | 34.17% | -3.51% | 4.70% | 9.71% | 36.41% | 21.81% | 28.10% | 14.09% | 27.11% |
| Operating Profit Growth % | 25.23% | 16.38% | 2.07% | -0.74% | 34.41% | 10.26% | 24.25% | 19.14% | 18.15% | 21.36% |
| Net Profit Growth % | 37.21% | -5.20% | 9.62% | -6.43% | 33.40% | -1.89% | 8.84% | 50.33% | 36.49% | 15.56% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 52.78% | 36.76% | 8.25% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 35.73x | 23.02x | 23.63x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 5.49x | 4.10x | 3.15x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.45% | 0.59% | 0.57% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 18.87x | 14.32x | 13.99x |
Mar 2017
- EPS (₹)
- 18.89
- Book Value (₹)
- 83.83
- Dividend per Share (₹)
- 1.30
- Cash EPS (₹)
- 24.40
- Operating Margin %
- 79.77%
- Net Margin %
- 46.12%
- ROE %
- 25.36%
- ROCE %
- 14.74%
- 9.88%
- Debtor Days
- 111
- Inventory Days
- 19
- Payable Days
- 0
- 130
- Debt to Equity (x)
- 1.27x
- Interest Coverage (x)
- 4.00x
- 1.82x
- Revenue Growth %
- 18.72%
- Operating Profit Growth %
- 25.23%
- Net Profit Growth %
- 37.21%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 17.74
- Book Value (₹)
- 100.93
- Dividend per Share (₹)
- 2.00
- Cash EPS (₹)
- 23.56
- Operating Margin %
- 69.20%
- Net Margin %
- 32.59%
- ROE %
- 19.29%
- ROCE %
- 15.64%
- 8.42%
- Debtor Days
- 113
- Inventory Days
- 19
- Payable Days
- 0
- 132
- Debt to Equity (x)
- 1.05x
- Interest Coverage (x)
- 5.16x
- 3.56x
- Revenue Growth %
- 34.17%
- Operating Profit Growth %
- 16.38%
- Net Profit Growth %
- -5.20%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 19.27
- Book Value (₹)
- 118.49
- Dividend per Share (₹)
- 0.20
- Cash EPS (₹)
- 26.16
- Operating Margin %
- 73.20%
- Net Margin %
- 37.02%
- ROE %
- 17.80%
- ROCE %
- 13.75%
- 7.96%
- Debtor Days
- 119
- Inventory Days
- 22
- Payable Days
- 0
- 141
- Debt to Equity (x)
- 1.12x
- Interest Coverage (x)
- 4.59x
- 1.41x
- Revenue Growth %
- -3.51%
- Operating Profit Growth %
- 2.07%
- Net Profit Growth %
- 9.62%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 18.52
- Book Value (₹)
- 125.30
- Dividend per Share (₹)
- 3.20
- Cash EPS (₹)
- 26.90
- Operating Margin %
- 69.39%
- Net Margin %
- 33.09%
- ROE %
- 15.14%
- ROCE %
- 11.49%
- 6.50%
- Debtor Days
- 96
- Inventory Days
- 17
- Payable Days
- 0
- 113
- Debt to Equity (x)
- 1.17x
- Interest Coverage (x)
- 3.18x
- 1.93x
- Revenue Growth %
- 4.70%
- Operating Profit Growth %
- -0.74%
- Net Profit Growth %
- -6.43%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 24.58
- Book Value (₹)
- 149.83
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 35.22
- Operating Margin %
- 85.01%
- Net Margin %
- 40.23%
- ROE %
- 18.06%
- ROCE %
- 14.10%
- 7.45%
- Debtor Days
- 89
- Inventory Days
- 19
- Payable Days
- 0
- 108
- Debt to Equity (x)
- 1.14x
- Interest Coverage (x)
- 3.79x
- 1.76x
- Revenue Growth %
- 9.71%
- Operating Profit Growth %
- 34.41%
- Net Profit Growth %
- 33.40%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 23.13
- Book Value (₹)
- 180.92
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 38.12
- Operating Margin %
- 68.72%
- Net Margin %
- 28.93%
- ROE %
- 14.43%
- ROCE %
- 10.80%
- 5.73%
- Debtor Days
- 58
- Inventory Days
- 15
- Payable Days
- 0
- 73
- Debt to Equity (x)
- 1.19x
- Interest Coverage (x)
- 3.23x
- 1.46x
- Revenue Growth %
- 36.41%
- Operating Profit Growth %
- 10.26%
- Net Profit Growth %
- -1.89%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 24.58
- Book Value (₹)
- 210.12
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 40.81
- Operating Margin %
- 70.10%
- Net Margin %
- 25.85%
- ROE %
- 12.90%
- ROCE %
- 10.84%
- 5.11%
- Debtor Days
- 57
- Inventory Days
- 7
- Payable Days
- 0
- 64
- Debt to Equity (x)
- 1.11x
- Interest Coverage (x)
- 2.22x
- 1.42x
- Revenue Growth %
- 21.81%
- Operating Profit Growth %
- 24.25%
- Net Profit Growth %
- 8.84%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 37.55
- Book Value (₹)
- 244.33
- Dividend per Share (₹)
- 6.00
- Cash EPS (₹)
- 55.52
- Operating Margin %
- 59.39%
- Net Margin %
- 30.34%
- ROE %
- 16.51%
- ROCE %
- 13.30%
- 7.06%
- Debtor Days
- 52
- Inventory Days
- 6
- Payable Days
- 0
- 58
- Debt to Equity (x)
- 0.87x
- Interest Coverage (x)
- 4.48x
- 1.05x
- Revenue Growth %
- 28.10%
- Operating Profit Growth %
- 19.14%
- Net Profit Growth %
- 50.33%
- 52.78%
- P/E (x)
- 35.73x
- P/B (x)
- 5.49x
- Dividend Yield %
- 0.45%
- 18.87x
Mar 2025
- EPS (₹)
- 51.35
- Book Value (₹)
- 288.26
- Dividend per Share (₹)
- 7.00
- Cash EPS (₹)
- 71.48
- Operating Margin %
- 60.45%
- Net Margin %
- 36.30%
- ROE %
- 19.23%
- ROCE %
- 15.51%
- 8.83%
- Debtor Days
- 49
- Inventory Days
- 6
- Payable Days
- 0
- 54
- Debt to Equity (x)
- 0.73x
- Interest Coverage (x)
- 5.26x
- 0.90x
- Revenue Growth %
- 14.09%
- Operating Profit Growth %
- 18.15%
- Net Profit Growth %
- 36.49%
- 36.76%
- P/E (x)
- 23.02x
- P/B (x)
- 4.10x
- Dividend Yield %
- 0.59%
- 14.32x
Mar 2026
- EPS (₹)
- 55.58
- Book Value (₹)
- 416.50
- Dividend per Share (₹)
- 7.50
- Cash EPS (₹)
- 79.43
- Operating Margin %
- 58.99%
- Net Margin %
- 33.00%
- ROE %
- 16.16%
- ROCE %
- 15.03%
- 8.08%
- Debtor Days
- 51
- Inventory Days
- 6
- Payable Days
- 0
- 57
- Debt to Equity (x)
- 0.57x
- Interest Coverage (x)
- 4.19x
- 1.39x
- Revenue Growth %
- 27.11%
- Operating Profit Growth %
- 21.36%
- Net Profit Growth %
- 15.56%
- 8.25%
- P/E (x)
- 23.63x
- P/B (x)
- 3.15x
- Dividend Yield %
- 0.57%
- 13.99x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-17 - Adani Ports and Special Economic Zone Limited has informed the Exchange about Schedule of meet
- General Updates
2026-08-11 - Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Incorporation of step-down subsidiary.
Annual Reports
Credit Ratings
- Credit Rating
2026-07-16 - Adani Ports and Special Economic Zone Limited has informed the Exchange about Credit Rating
- Credit Rating
2026-07-03 - Adani Ports and Special Economic Zone Limited has informed the Exchange about Credit Rating
- Credit Rating
2026-06-25 - Adani Ports and Special Economic Zone Limited has informed the Exchange about Credit Rating
Concalls
Jul 2026
May 2026
Apr 2026