Adani Ports and Special Economic Zone Ltd.

ADANIPORTSNSELogisticsPortLarge Cap

₹1,781.9

▼ 0.29%

—

Composite

APSEZ is India's largest Integrated Transport Utility company with global presence across the verticals. As a key player in the industry, APSEZ is backed by the Adani Group and has port operations across nine maritime states and union teritorries including Gujarat, Maharashtra, Goa, Kerala, Tamil Nadu, Andhra Pradesh, Puducherry, Odisha and West Bengal. APSEZ operates India’s largest port-based manufacturing hub in Mundra, Gujarat, covering over thousands of hectares along the Gulf of Kachchh. APSEZ also provides specialised dredging and reclamation solutions for port and harbour construction.

www.adaniports.comSector: LogisticsIndustry: Port

Q-DITS fundamental score

—Composite

Growth

Profitability

Valuation

Quality

Solvency

Earnings

Key metrics

MCap

₹4.14L Cr

TTM PE

32.3x

Industry PE

32.1x

TTM EPS

₹55.58

Book Value

₹416.5

Face Value

₹2

Div Yield

0.42%

PEG

1.26x

3.2x

ROE

16.2%

ROCE

15%

EBITDA mgn

64.5%

D/E

0.57

Int. Cover

4.2x

Curr. Ratio

1.39x

EPS

₹55.58

Growth — CAGR across horizons

Metric	1Y	3Y	5Y	10Y
Net Sales	27.1%	22.9%	25.3%	18.5%
EBITDA	25.9%	27.8%	21.3%	17.5%
Net Profit	14.9%	25.6%	21.1%	16.2%

Score snapshot

Piotroski

7/9

Altman Z

1.39

Quality

63.4

Growth

Valuation

—

Earn. Qual

89.8

PEAD

SURGE

Revenue, profitability & returns

Revenue & Net Profit (₹ Cr)

RevenueNet Profit

Margins (%)

EBITDA%PAT%

Return ratios (%)

ROEROCEROA

Annual financials — last 10 years

Tap any row to see its trend

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	Trend
›RevenueCr	8,439	11,323	10,925	11,439	12,550	17,119	20,852	26,711	30,475	38,736	↑
›EBITDACr	6,732	7,680	7,928	7,879	10,669	11,359	13,344	17,041	20,326	24,762	↑
›EBITDA margin	79.8%	69.2%	73.2%	69.4%	85%	68.7%	70.1%	65.2%	67.5%	64.5%	↓
›Net profitCr	3,892	3,690	4,045	3,785	5,049	4,953	5,391	8,104	11,061	12,782	↑
›PAT margin	46.1%	32.6%	37%	33.1%	40.2%	28.9%	25.9%	30.3%	36.3%	33%	↓
›EPS₹	₹18.89	₹17.74	₹19.27	₹18.52	₹24.58	₹23.13	₹24.58	₹37.55	₹51.35	₹55.58	↑
›Revenue growth	18.7%	34.2%	-3.5%	4.7%	9.7%	36.4%	21.8%	28.1%	14.1%	27.1%	↑
›PAT growth	37.2%	-5.2%	9.6%	-6.4%	33.4%	-1.9%	8.8%	50.3%	36.5%	15.6%	↓
›ROE	25.4%	19.3%	17.8%	15.1%	18.1%	14.4%	12.9%	16.5%	19.2%	16.2%	↓
›ROCE	14.7%	15.6%	13.7%	11.5%	14.1%	10.8%	10.8%	13.3%	15.5%	15%	↓
›ROA	9.9%	8.4%	8%	6.5%	7.4%	5.7%	5.1%	7.1%	8.8%	8.1%	↓
›P/E	18x	20x	19.6x	13.6x	28.6x	33.5x	25.7x	35.7x	23x	23.6x	↑
›P/B	4.1x	3.5x	3.2x	2x	4.7x	4.3x	3x	5.5x	4.1x	3.2x	↓
›D/E	1.3	1.1	1.1	1.2	1.1	1.2	1.1	0.9	0.7	0.6	↓
›Current ratio	1.8x	3.6x	1.4x	1.9x	1.8x	1.5x	1.4x	1.1x	0.9x	1.4x	↑
›Interest cover	4x	5.2x	4.6x	3.2x	3.8x	3.2x	2.2x	4.5x	5.3x	4.2x	↓

Quarterly results

Tap any row to see its trend

Metric	2023-12	2024-03	2024-06	2024-09	2024-12	2025-03	2025-06	2025-09	2025-12	2026-03	Trend
›RevenueCr	6,920	6,897	7,560	7,067	7,964	8,488	9,126	9,167	9,705	10,738	↑
›Rev growth YoY	44.6%	19%	21%	6.3%	15.1%	23.1%	20.7%	29.7%	21.9%	26.5%	↑
›EBITDACr	4,186	4,029	4,817	4,369	4,778	4,913	5,495	5,550	5,868	5,818	↓
›EBITDA margin	60.5%	58.4%	63.7%	61.8%	60%	57.9%	60.2%	60.5%	60.5%	54.2%	↓
›Net profitCr	2,306	2,050	3,184	2,414	2,467	2,854	3,153	3,330	2,942	3,099	↑
›PAT growth YoY	75.1%	81.1%	45.1%	40.7%	7%	39.3%	-1%	38%	19.3%	8.6%	↓
›EPS₹	₹10.22	₹9.44	₹14.41	₹11.32	₹11.67	₹13.95	₹15.34	₹14.39	₹13.25	₹14.45	↑

Balance sheet — last 10 years (₹ Cr)

Tap any row to see its trend

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	Trend
›Shareholders' equityCr	17,526	21,069	24,538	25,623	30,608	41,988	45,556	52,945	62,435	96,125	↑
›ReservesCr	16,946	20,489	24,124	25,051	30,035	37,794	44,957	52,346	61,837	95,498	↑
›Total borrowingsCr	0	0	0	0	0	0	0	0	0	0	—
›InvestmentsCr	5,028	5,082	8,777	10,255	10,825	13,712	20,052	14,105	13,928	18,037	↑
›Total assetsCr	36,813	43,224	45,960	54,220	67,139	85,612	1,00,330	98,333	1,09,741	1,61,991	↑
›Current assetsCr	11,907	14,287	14,631	14,820	12,553	16,190	15,655	17,286	18,757	21,975	↑
›Current liabilitiesCr	6,556	4,009	10,352	7,696	7,121	11,063	11,009	16,415	20,938	15,760	↓
›Trade payablesCr	456	490	572	729	1,014	1,160	2,296	1,912	2,721	2,736	↑
›Gross blockCr	23,463	26,469	33,252	39,537	57,070	74,076	85,628	91,660	1,09,756	1,57,353	↑

Cash flow statement (₹ Cr)

Tap any row to see its trend

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	Trend
›Operating CF (CFO)Cr	4,063	5,608	6,029	7,402	7,556	10,420	11,900	15,018	17,226	20,356	↑
›Investing CF (CFI)Cr	-2,639	-3,846	-4,424	-750	-14,143	-5,282	-19,560	-6,947	-9,787	-13,191	↓
›Financing CF (CFF)Cr	-1,325	-1,889	2,313	-4,256	3,514	-586	-2,734	-7,800	-6,916	-5,483	↑
›Net cash changeCr	98	-127	3,919	2,396	-3,073	4,553	-10,394	271	523	1,682	↑
›Closing cashCr	950	823	4,798	7,195	4,201	8,676	1,126	1,576	3,406	5,162	↑

Cash flow components

CFO · CFI · CFF (₹ Cr)

CFOCFICFF

Q-DITS scorecard

Composite score

—

Quality (25%)63.4

Growth (25%)63

Valuation (20%)—

Piotroski (15%)78

Earnings Quality (10%)89.8

Momentum (5%)—

Weighted blend, rescaled to the components available for this stock.

Piotroski F-Score

7/9

✓ROA positiveROA 8.08%

✓CFO positiveCFO ₹20356.25 Cr

✗ROA improving8.83% → 8.08%

✓CFO > PAT (low accruals)CFO 20356.25 vs PAT 12782.03

✓Leverage decreasedD/E 0.73 → 0.57

✓Liquidity improvedCR 0.9 → 1.39

✓No share dilutionEPS 51.35 → 55.58

✗Margin improvedEBITDA mgn 67.51% → 64.46%

✓Asset turnover upAsset TO 0.24 → 0.24

Altman Z-Scoregrey

1.39

0.038

0.59

0.12

0.593

0.239

>2.9 safe · 1.23–2.9 grey · <1.23 distress

Quality

63.4/100

ROE

16.2%

ROCE

15%

Margin

33%

Debt

0.6

Int. cover

4.2x

Growth

63/100

Revenue 3Y

22.9%

Profit 3Y

25.6%

EPS

8.2%

Valuation

N/A

—

EV/EBITDA

—

Earnings quality

89.8/100

CFO₹20,356 Cr

PAT₹12,782 Cr

Accrual ratio-0.047

CFO/PAT1.59x

PEAD · SURGE

+2 / +1

Revenue SUE0.42

EPS SUE0.91

Latest quarter2026-03

Rev growth YoY26.5%

Shareholding pattern

Promoter68%

FII/FPI13.3%

DII13.9%

Public32%

Tap any row to see its trend

Metric	2024-03	2024-06	2024-09	2024-12	2025-03	2025-06	2025-09	2025-12	2026-03	Trend
›Promoter	65.9%	65.9%	65.9%	65.9%	65.9%	65.9%	65.9%	68%	68%	—
›FII / FPI	15%	15.2%	15.2%	13.9%	13.4%	13.5%	13.6%	13.1%	13.3%	↑
›DII	11.8%	12.5%	13.3%	14.2%	14.7%	15.1%	15%	13.9%	13.9%	↓
›Public / Retail	34.1%	34.1%	34.1%	34.1%	34.1%	34.1%	34.1%	32%	32%	—
›Promoter pledge	1.7%	1.6%	0%	0%	0%	0%	0%	0%	0%	—

Documents & filings

Loading documents…

Peer comparison

Company	MCap (Cr)	Revenue	PAT	PE	PB	ROE%	ROCE%	D/E
JSW Infrastructure Ltd.	57,887	5,361	1,547	38x	5.3x	17.6	16	0.49
Gujarat Pipavav Port Ltd.	7,218	1,159	494	14x	3x	17.1	24	0
Paradeep Parivahan Ltd.	247	386	31	8x	1.9x	26.2	23.7	0.59