Adani Ports and Special Economic Zone Ltd

BSE: ADANIPORTS532921ISIN INE742F01042

Services
Port & Port services
BSE SENSEX

Share price

₹1,907.10+42.90 (+2.30%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹1,921.00
52W low: ₹1,293.10
Off 52W high: -0.72%
1M return: +7.44%
3M return: +11.85%
6M return: +9.10%
1Y return: +32.04%
20D avg volume: 3,81,873
50 DMA: ₹1,752.23
200 DMA: ₹1,659.75

Key ratios Consolidated

Market cap: ₹4,39,388 Cr
Current price: ₹1,907.10
52W high / low: ₹1,921.00 / ₹1,293.10
Face value: ₹2.00
P/E: 32.11
P/B: 4.30
EPS (TTM): ₹59.39
Book value / share: ₹443.76
ROE: —
ROCE: 11.40%
Operating margin: —
Net margin: —
Debt / equity: 0.56
Net debt: ₹49,941 Cr
Interest cover: 4.14
Dividend yield: 0.39%
Dividend / share (TTM): ₹7.50
Payout: 12.63%
Cash conversion cycle: 40.8 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	11,340	10,821	10,738	9,705	9,167	9,126	8,488	7,964	7,067	7,560	6,896	6,920
	269.37	852.91	751.87	234.08	836.60	296.04	281.19	223.35	305.35	494.59	303.44	506.85
	11,610	11,674	11,489	9,939	10,004	9,422	8,770	8,187	7,372	8,054	7,200	7,427
	7,253	7,079	7,938	6,283	6,104	5,732	5,382	5,191	4,434	4,239	4,451	4,588
	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	0.00	—	—	—	—	—
	665.09	681.66	636.15	563.45	585.51	569.21	530.16	503.17	506.06	469.27	438.50	478.45
	1,006	1,087	1,605	979.72	1,223	846.16	714.92	923.28	659.24	515.23	618.78	975.88
	1,713	1,711	1,615	1,384	1,264	1,255	1,185	1,106	1,077	1,012	979.09	985.32
	3,869	3,599	4,082	3,355	3,032	3,062	2,952	525.82	429.27	376.00	617.69	429.71
	4,357	4,595	3,552	3,656	3,900	3,690	3,388	2,996	2,938	3,815	2,749	2,839
	-30.76	0.00	-61.62	-146.08	0.00	0.00	-24.41	-27.85	-51.77	-145.43	-373.70	0.00
	4,326	4,595	3,490	3,510	3,900	3,690	3,363	2,969	2,887	3,670	2,376	2,839
	783.32	657.81	391.66	567.79	570.08	537.00	508.83	501.48	472.63	485.42	326.21	533.12
	3,682	3,650	3,308	3,043	3,120	3,311	3,023	2,518	2,413	3,107	2,015	2,208
	15.72	15.71	14.45	14.04	14.39	15.34	13.95	11.67	11.32	14.41	9.44	10.22
Key metrics
	7,045	7,394	6,710	5,874	6,387	5,791	5,263	4,998	4,622	5,197	3,974	4,800
	62.10%	68.30%	62.50%	60.50%	69.70%	63.50%	62.00%	62.80%	65.40%	68.70%	57.60%	69.40%
	32.50%	33.70%	30.80%	31.40%	34.00%	36.30%	35.60%	31.60%	34.10%	41.10%	29.20%	31.90%
	3.20%	—	3.00%	—	4.10%	—	3.60%	—	—	—	—	—
	23.70%	18.60%	26.50%	21.90%	29.70%	20.70%	23.10%	15.10%	—	—	—	—
	18.00%	10.20%	9.40%	20.80%	29.30%	6.50%	50.00%	14.00%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	42,603	38,736	31,079	26,711	20,852	15,934	12,550	11,873	10,925	11,323
	2,108	2,119	1,304	1,499	1,553	2,155	1,970	1,861	1,362	1,011
	44,712	40,854	32,383	28,210	22,405	18,089	14,520	13,734	12,288	12,334
	28,552	26,056	19,246	17,581	15,691	12,335	8,214	9,427	7,093	6,945
	0.00	0.00	0.00	—	—	—	—	—	—	—
	0.00	0.00	0.00	—	—	—	—	—	—	—
	2,546	2,354	2,009	1,896	1,178	663.92	615.05	546.52	529.81	447.32
	4,678	4,654	2,813	2,846	2,363	2,541	2,255	1,813	1,385	—
	6,423	5,517	4,379	3,888	3,423	2,740	2,107	1,680	1,373	—
	14,904	13,530	10,045	1,834	1,186	889.49	691.62	663.90	567.35	498.40
	16,160	14,799	13,138	10,629	6,715	5,754	6,306	4,307	5,195	5,389
	-238.46	-207.70	-249.46	-373.70	-1,273	-405.19	0.00	-58.63	-68.95	-155.18
	15,921	14,591	12,888	10,255	5,441	5,348	6,306	4,248	5,126	5,234
	2,401	2,067	1,968	1,990	96.38	745.92	1,243	459.39	1,081	1,544
	13,683	12,782	11,061	8,104	5,393	4,795	5,049	3,785	4,045	3,690
	59.92	58.23	51.35	37.55	24.58	22.39	24.58	18.35	19.27	—
Key metrics
	27,023	24,762	20,080	16,990	11,227	10,629	10,669	7,742	7,885	5,234
	63.43%	63.90%	64.60%	63.60%	53.80%	66.70%	85.00%	65.20%	72.20%	46.20%
	32.12%	33.00%	35.60%	30.30%	25.90%	30.10%	40.20%	31.90%	37.00%	32.60%
	—	11.40%	13.70%	—	—	—	—	—	—	—
	22.62%	24.60%	16.40%	28.10%	30.90%	27.00%	5.70%	8.70%	-3.50%	—
	14.29%	15.60%	36.50%	50.30%	12.50%	-5.00%	33.40%	-6.40%	9.60%	—
	—	5,036	9,177	—	—	—	—	—	—	—
	—	1.59	1.56	—	—	—	—	—	—	—
	—	0.56	0.71	—	—	—	—	—	—	—
	—	49,941	42,404	—	—	—	—	—	—	—
	—	40.8	26.2	—	—	—	—	—	—	—
Balance sheet
	—	1,85,315	1,35,332	—	—	—	—	—	—	—
	—	21,975	18,757	—	—	—	—	—	—	—
	—	5,162	3,406	—	—	—	—	—	—	—
	—	6,383	4,432	—	—	—	—	—	—	—
	—	685.00	521.80	—	—	—	—	—	—	—
	—	2,913	1,800	—	—	—	—	—	—	—
	—	1,02,004	68,572	—	—	—	—	—	—	—
	—	2,736	2,720	—	—	—	—	—	—	—
	—	15,760	20,938	—	—	—	—	—	—	—
	—	55,103	45,810	—	—	—	—	—	—	—
	—	4,679	9,979	—	—	—	—	—	—	—
	—	50,424	35,831	—	—	—	—	—	—	—
	—	98,981	64,973	—	—	—	—	—	—	—
Cash flow
	—	20,356	17,226	—	—	—	—	—	—	—
	—	-13,118	-8,480	—	—	—	—	—	—	—
	—	-5,483	-6,916	—	—	—	—	—	—	—
	—	15,320	8,049	—	—	—	—	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	2,284	2,244	2,773	1,860	2,058	1,839	2,130	2,182	1,803	1,890	1,964	1,887
	759.78	1,260	822.36	572.50	1,033	588.53	494.90	521.08	540.27	851.51	523.75	587.51
	3,044	3,504	3,595	2,433	3,091	2,427	2,625	2,703	2,343	2,742	2,487	2,474
	1,790	1,620	3,459	1,917	2,582	1,693	1,629	2,104	1,471	1,650	1,661	1,665
	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	0.00	—	—	—	—	—
	56.53	56.45	127.94	62.50	71.62	85.80	62.70	70.56	78.97	88.07	109.53	65.76
	977.82	778.88	2,005	1,211	1,874	920.62	762.62	1,402	771.38	655.03	731.47	794.31
	183.13	181.82	192.39	165.98	165.54	162.90	170.34	163.35	163.11	163.77	162.44	167.51
	572.16	603.11	1,133	476.85	470.70	523.58	633.68	132.38	137.62	392.45	204.91	187.73
	1,254	1,884	136.31	516.25	509.13	734.48	995.36	599.47	872.29	1,092	826.47	809.58
	0.00	0.00	-79.48	-75.72	0.00	0.00	0.00	—	—	—	—	—
	1,254	1,884	56.83	440.53	509.13	734.48	995.36	599.47	872.29	1,092	826.47	809.58
	313.45	326.07	-142.00	153.91	59.66	229.58	295.23	190.58	300.15	316.42	203.57	284.09
	940.97	1,557	198.83	286.62	449.47	504.90	700.13	408.89	572.14	775.99	622.90	525.49
	4.08	6.76	0.86	1.32	2.08	2.34	3.24	1.89	2.65	3.59	2.88	2.43
Key metrics
	2,415	2,844	2,254	1,818	2,549	1,818	1,928	2,165	1,807	1,911	1,720	1,771
	105.70%	126.70%	81.30%	97.70%	123.90%	98.90%	90.50%	99.20%	100.20%	101.10%	87.60%	93.90%
	41.20%	69.40%	7.20%	15.40%	21.80%	27.50%	32.90%	18.70%	31.70%	41.00%	31.70%	27.90%
	2.20%	—	1.90%	—	2.90%	—	2.20%	—	—	—	—	—
	11.00%	22.00%	30.20%	-14.70%	14.20%	-2.70%	8.50%	15.70%	—	—	—	—
	109.40%	208.50%	-71.60%	-29.90%	-21.40%	-34.90%	12.40%	-22.20%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	9,161	8,535	8,005	6,807	5,237	4,206	4,377	4,643	5,336	6,534
	3,414	3,023	2,408	1,977	2,999	2,519	2,266	2,903	2,343	1,607
	12,576	11,558	10,413	8,784	8,236	6,726	6,643	7,546	7,679	8,141
	8,785	9,174	6,853	6,252	7,706	5,492	3,734	5,515	3,894	4,015
	0.00	0.00	0.00	—	—	—	—	—	—	—
	0.00	0.00	0.00	—	—	—	—	—	—	—
	303.42	349.43	300.30	332.93	294.70	238.34	235.01	224.61	230.89	193.78
	4,973	5,476	3,591	3,214	2,680	2,494	2,327	1,752	1,422	—
	723.32	686.81	660.57	655.59	612.98	599.61	619.18	553.29	474.21	470.52
	2,785	2,662	2,301	650.27	551.88	433.67	351.79	335.59	325.58	316.66
	3,791	2,384	3,560	2,532	529.93	1,234	2,910	2,032	3,786	4,127
	-155.20	-155.20	0.00	—	-1,558	-611.83	—	—	-121.90	-297.38
	3,635	2,229	3,560	2,532	-1,028	621.73	2,910	2,032	3,664	3,829
	651.43	436.08	1,102	793.57	548.80	324.17	981.71	97.48	1,026	1,421
	2,984	1,793	2,457	1,738	-479.43	297.56	1,928	1,934	2,638	2,408
	13.02	8.15	11.37	8.05	-2.22	1.41	9.49	9.43	12.74	11.63
Key metrics
	9,332	8,391	7,811	6,402	2,265	3,715	5,856	4,337	5,560	4,300
	101.86%	98.30%	97.60%	94.10%	43.30%	88.30%	133.80%	93.40%	104.20%	65.80%
	32.57%	21.00%	30.70%	25.50%	-9.20%	7.10%	44.00%	41.70%	49.40%	36.90%
	—	7.20%	9.10%	—	—	—	—	—	—	—
	11.61%	6.60%	17.60%	30.00%	24.50%	-3.90%	-5.70%	-13.00%	-18.30%	—
	44.61%	-27.00%	41.30%	462.60%	-261.10%	-84.60%	-0.30%	-26.70%	9.50%	—
	—	4,106	3,968	—	—	—	—	—	—	—
	—	3.33	2.23	—	—	—	—	—	—	—
	—	0.77	1.69	—	—	—	—	—	—	—
	—	47,592	51,008	—	—	—	—	—	—	—
	—	38.5	43.4	—	—	—	—	—	—	—
Balance sheet
	—	1,13,545	86,459	—	—	—	—	—	—	—
	—	6,833	5,097	—	—	—	—	—	—	—
	—	310.70	464.28	—	—	—	—	—	—	—
	—	1,346	1,304	—	—	—	—	—	—	—
	—	57.97	89.97	—	—	—	—	—	—	—
	—	796.93	459.38	—	—	—	—	—	—	—
	—	10,793	11,261	—	—	—	—	—	—	—
	—	504.73	443.09	—	—	—	—	—	—	—
	—	6,689	7,621	—	—	—	—	—	—	—
	—	47,903	51,473	—	—	—	—	—	—	—
	—	3,294	3,540	—	—	—	—	—	—	—
	—	44,609	47,933	—	—	—	—	—	—	—
	—	61,840	30,437	—	—	—	—	—	—	—
Cash flow
	—	5,973	5,471	—	—	—	—	—	—	—
	—	-4,157	-2,533	—	—	—	—	—	—	—
	—	-1,969	-2,820	—	—	—	—	—	—	—
	—	1,868	1,503	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +17.68%
Sales CAGR 5Y: +14.29%
Profit CAGR 3Y: —
Profit CAGR 5Y: -1.44%
Sales YoY (TTM): +11.61%
Profit YoY (TTM): +44.61%

Consolidated

Sales CAGR 3Y: +22.93%
Sales CAGR 5Y: +25.28%
Profit CAGR 3Y: +33.33%
Profit CAGR 5Y: +20.42%
Sales YoY (TTM): +22.62%
Profit YoY (TTM): +14.29%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 66.03%

Quarter	September 2026	June 2026
Promoter %	66.03%	66.03%

Holder	Type	Holding	Previous	Change
Gautambhai Shantilal Adani & Rajeshbhai Shantilal Adani (on behalf of S. B. Adani Family Trust)	Promoter Group	30.85%	30.85%	0.00%
Life Insurance Corporation Of India	Public	6.43%	6.43%	0.00%
Carmichael Rail And Port Singapore Holdings Pte. Ltd.	Promoter Group	6.24%	6.24%	0.00%
Adani Tradeline Private Limited	Promoter Group	6.00%	6.00%	0.00%
Emerging Market Investment Dmcc	Promoter Group	5.91%	5.91%	0.00%
Flourishing Trade And Investment Ltd	Promoter Group	5.40%	5.40%	0.00%
Afro Asia Trade And Investments Limited	Promoter Group	3.90%	3.90%	0.00%
Adani Rail Infra Private Limited	Promoter Group	3.07%	3.07%	0.00%
Resurgent Trade And Investment Ltd	Promoter Group	2.30%	2.30%	0.00%
Worldwide Emerging Market Holding Limited	Promoter Group	1.75%	1.75%	0.00%
Goldman Sachs Trust Ii - Goldman Sachs Gqg Partners International Opportunities Fund	Public	1.72%	1.93%	-0.21%
Sbi Nifty 50 Etf	Public	1.45%	1.41%	+0.04%
New World Fund Inc	Public	1.28%	—	—
Spitze Trade And Investment Limited	Promoter Group	0.54%	0.54%	0.00%
Adani Properties Private Limited	Promoter Group	0.07%	0.07%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Adani Ports and Special Economic Zone Ltd	4,39,388	1,907.10	32.11	11.40%	+22.62% TTM	+14.29% TTM	+32.04%
JSW Infrastructure Limited	80,560	345.75	54.64	12.30%	+17.02% TTM	-8.40% TTM	+19.33%
Gujarat Pipavav Port Limited	7,967	164.80	14.26	25.90%	+20.28% TTM	+15.50% TTM	+1.23%
Allcargo Terminals Limited	664	26.36	15.07	9.60%	+16.25% TTM	+71.57% TTM	—
Starlog Enterprises Limited	60	39.98	-4.92	-11.80%	-32.02% TTM	-151.24% TTM	-24.21%
VMS INDUSTRIES LIMITED S	42	16.97	27.82	6.10%	-17.14% TTM	-76.49% TTM	-47.00%

Filings & corporate actions

Recent announcements

Intimation of interaction with Investors / Analysts4 Nov 2026 · Company Update / Analyst / Investor Meet
Transcript of Earnings Call2 Nov 2026 · Company Update / Earnings Call Transcript
Intimation of interaction with Investors / Analysts2 Nov 2026 · Company Update / Analyst / Investor Meet
APSEZL - Operational performance update2 Nov 2026 · Company Update / General
Update on Credit Rating29 Oct 2026 · Company Update / Credit Rating
Audio Recording of Analysts/Investors Call pertaining to the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 202628 Oct 2026 · Company Update / Analyst / Investor Meet
Outcome of Board Meeting28 Oct 2026 · Result / Financial Results
Press Release and Investor Presentation on Unaudited Financial Results for the quarter and half year ended September 30, 202628 Oct 2026 · Company Update / Press Release / Media Release
Outcome of Board Meeting28 Oct 2026 · Board Meeting / Outcome of Board Meeting
Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Incorporation of step-down subsidiary.22 Oct 2026 · Company Update / General
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for GQG Partners Emerging Markets Equity Fund A ....13 Oct 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Certificate under Regulation 74(5) of the SEBI (DP) Regulation, 20187 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Incorporation of Wholly Owned Subsidiary Company.6 Oct 2026 · Company Update / General
Adani Ports And Special Economic Zone Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/10/2026 ,inter alia, to consider and approve the Unaudited ....5 Oct 2026 · Board Meeting / Board Meeting
Intimation of interaction with Investors / Analysts5 Oct 2026 · Company Update / Analyst / Investor Meet
APSEZL - Operational performance update2 Oct 2026 · Company Update / General
APSEZ''s Colombo West International Terminal Doubles Capacity to 3.2 million TEUs with Total USD 750 Million Investment30 Sep 2026 · Company Update / General
Intimation for closure of trading window29 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Announcement under Regulation 30 (LODR) - Update29 Sep 2026 · Company Update / General
Announcement under Regulation 30 (LODR) -Update11 Sep 2026 · Company Update / General
Receipt of Letter of Award (LOA) for development and operations of two dry buik berths at Paradip Port, Odisha9 Sep 2026 · Company Update / Award of Order / Receipt of Order
Intimation of interaction with Investors / Analysts7 Sep 2026 · Company Update / Analyst / Investor Meet
Media Release: APSEZ to start Dedicated Empty Container Yard operations at Mundra Port and SEZ3 Sep 2026 · Company Update / General
Intimation of interaction with Investors / Analysts2 Sep 2026 · Company Update / Analyst / Investor Meet
Operational performance update2 Sep 2026 · Company Update / General
Incorporation of step-down subsidiary.1 Sep 2026 · Company Update / General
Intimation of interaction with Institutional Investors / Analysts21 Aug 2026 · Company Update / Analyst / Investor Meet
Intimation of interaction with Institutional Investors / Analysts17 Aug 2026 · Company Update / Analyst / Investor Meet
Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Incorporation of step-down subsidiary.11 Aug 2026 · Company Update / General
Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Incorporation of step-down subsidiary11 Aug 2026 · Company Update / General
Update on ESG Rating10 Aug 2026 · Company Update / General
Intimation of interaction with Institutional Investors / Analysts6 Aug 2026 · Company Update / Analyst / Investor Meet
Operational performance update3 Aug 2026 · Company Update / General
Transcript of Earnings Call3 Aug 2026 · Company Update / General
Update on ESG Rating1 Aug 2026 · Company Update / General
Audio Recording of Investor Call29 Jul 2026 · Company Update / Analyst / Investor Meet
Rumour verification29 Jul 2026 · Others
Submission of Media Release and Investor Presentation29 Jul 2026 · Company Update / Press Release / Media Release
Outcome of Board Meeting29 Jul 2026 · Board Meeting / Outcome of Board Meeting
Inaugural Taskforce on Nature-related Financial Disclosures (TNFD) Report for FY 2025-26.24 Jul 2026 · Company Update / General

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 7.5000	12 Jun 2026	12 Jun 2026	—
Final Dividend - Rs. - 7.0000	13 Jun 2025	13 Jun 2025	—

Board meetings

28 Oct 2026 Board Meeting - Financial Results
29 Jul 2026 Board Meeting - Financial Results