Adani Ports & SEZ Ltd (ADANIPORTS) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↓

-1.84%

Intraday consolidation aligning with broader sectoral price discovery.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 15.6%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 16.4%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹1,840.26

200-Day DMA ● Overlay

₹1,706.77

14-Day RSI ● Overlay

45.6 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹4.03 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

29.3x

Price / EPS

Book Value (₹) Assets

₹416.0

P/B: 4.3x

ROE (%) Quality

16.4%

Net Profit / Equity

ROCE (%) Efficiency

14.1%

EBIT / Capital

Dividend Yield Yield

0.43%

Face Value: ₹10

Debt / Equity Solvency

0.66x

Manageable

EPS (TTM) Per Share

₹59.35

Trailing 12M

OPM (%) Spread

58.0%

EBITDA Margin

Free Cash Flow Cash

₹5,074 Cr

CFO - Capex

About Adani Ports & SEZ Ltd

Adani Ports & SEZ Ltd (ADANIPORTS) is an Indian publicly listed company operating in the Infrastructure & Realty sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 41.8% × Turnover: 0.85x × Leverage: 1.66x = ROE: 16.4%

✓ Company Strengths (Pros)

• Delivers solid shareholder returns with an ROE of 16.4%.
• Maintains healthy operating profit margins of ~58.0%.

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹40,430 Cr

Latest PAT

₹13,121 Cr

EPS (TTM)

₹59.35

OPM %

58.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	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
Sales / Revenue	₹1,427 Cr	₹1,530 Cr	₹1,887 Cr	₹1,964 Cr	₹1,890 Cr	₹1,803 Cr	₹2,182 Cr	₹2,131 Cr	₹1,839 Cr	₹2,058 Cr	₹1,862 Cr	₹2,773 Cr	₹2,244 Cr
Operating Profit (EBITDA)	₹976.00 Cr	₹681.00 Cr	₹1,184 Cr	₹1,132 Cr	₹1,068 Cr	₹1,267 Cr	₹1,644 Cr	₹1,412 Cr	₹1,190 Cr	₹1,516 Cr	₹1,313 Cr	₹1,511 Cr	₹1,585 Cr
OPM %	68.0%	45.0%	63.0%	58.0%	57.0%	70.0%	75.0%	66.0%	65.0%	74.0%	71.0%	55.0%	71.0%
Interest Expense	₹683.00 Cr	₹619.00 Cr	₹794.00 Cr	₹667.00 Cr	₹664.00 Cr	₹771.00 Cr	₹1,402 Cr	₹605.00 Cr	₹752.00 Cr	₹1,874 Cr	₹1,028 Cr	₹2,005 Cr	₹779.00 Cr
Depreciation	₹160.00 Cr	₹165.00 Cr	₹168.00 Cr	₹162.00 Cr	₹164.00 Cr	₹163.00 Cr	₹163.00 Cr	₹170.00 Cr	₹163.00 Cr	₹166.00 Cr	₹166.00 Cr	₹192.00 Cr	₹182.00 Cr
Profit before Tax (PBT)	₹583.00 Cr	₹313.00 Cr	₹810.00 Cr	₹826.00 Cr	₹1,092 Cr	₹872.00 Cr	₹599.00 Cr	₹1,131 Cr	₹870.00 Cr	₹509.00 Cr	₹616.00 Cr	₹57.00 Cr	₹1,884 Cr
Net Profit (PAT)	₹394.00 Cr	₹196.00 Cr	₹525.00 Cr	₹623.00 Cr	₹776.00 Cr	₹572.00 Cr	₹409.00 Cr	₹798.00 Cr	₹597.00 Cr	₹449.00 Cr	₹425.00 Cr	₹199.00 Cr	₹1,557 Cr
EPS in ₹	₹1.82	₹0.91	₹2.43	₹2.88	₹3.59	₹2.65	₹1.89	₹3.70	₹2.76	₹2.08	₹1.84	₹0.86	₹6.76

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹3,909 Cr	₹4,619 Cr	₹4,879 Cr	₹6,534 Cr	₹5,336 Cr	₹4,643 Cr	₹4,377 Cr	₹4,206 Cr	₹5,237 Cr	₹6,807 Cr	₹7,913 Cr	₹8,535 Cr	₹8,937 Cr
Expenses	₹1,302 Cr	₹1,312 Cr	₹1,332 Cr	₹2,025 Cr	₹1,550 Cr	₹1,628 Cr	₹1,506 Cr	₹1,653 Cr	₹1,966 Cr	₹2,382 Cr	₹2,643 Cr	₹3,011 Cr	₹3,012 Cr
Operating Profit	₹2,607 Cr	₹3,307 Cr	₹3,547 Cr	₹4,509 Cr	₹3,787 Cr	₹3,016 Cr	₹2,871 Cr	₹2,553 Cr	₹3,271 Cr	₹4,425 Cr	₹5,269 Cr	₹5,524 Cr	₹5,925 Cr
OPM %	67%	72%	73%	69%	71%	65%	66%	61%	62%	65%	67%	65%	66%
Interest	₹709.00 Cr	₹854.00 Cr	₹998.00 Cr	₹1,519 Cr	₹1,867 Cr	₹3,460 Cr	₹2,327 Cr	₹2,494 Cr	₹2,680 Cr	₹2,763 Cr	₹2,942 Cr	₹5,476 Cr	₹5,686 Cr
Depreciation	₹489.00 Cr	₹519.00 Cr	₹541.00 Cr	₹471.00 Cr	₹474.00 Cr	₹553.00 Cr	₹619.00 Cr	₹600.00 Cr	₹613.00 Cr	₹656.00 Cr	₹661.00 Cr	₹687.00 Cr	₹706.00 Cr
Profit before Tax	₹2,148 Cr	₹3,106 Cr	₹3,293 Cr	₹3,829 Cr	₹3,664 Cr	₹2,032 Cr	₹2,910 Cr	₹472.00 Cr	-₹1,028 Cr	₹2,532 Cr	₹4,185 Cr	₹2,229 Cr	₹3,065 Cr
Net Profit	₹2,183 Cr	₹2,964 Cr	₹3,101 Cr	₹2,408 Cr	₹2,638 Cr	₹1,934 Cr	₹1,928 Cr	₹148.00 Cr	-₹479.00 Cr	₹1,738 Cr	₹2,916 Cr	₹1,793 Cr	₹2,631 Cr
EPS in Rs	10.55	14.31	14.97	11.63	12.74	9.52	9.49	0.70	-2.22	8.05	13.50	7.78	11.54

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹414.00 Cr	₹414.00 Cr	₹414.00 Cr	₹414.00 Cr	₹414.00 Cr	₹406.00 Cr	₹406.00 Cr	₹422.00 Cr	₹432.00 Cr	₹432.00 Cr	₹432.00 Cr	₹461.00 Cr
Reserves & Surplus	₹10,786 Cr	₹13,152 Cr	₹16,451 Cr	₹17,703 Cr	₹19,912 Cr	₹19,292 Cr	₹21,228 Cr	₹29,422 Cr	₹28,104 Cr	₹28,756 Cr	₹38,799 Cr	₹61,213 Cr
Borrowings (Debt)	₹11,768 Cr	₹15,508 Cr	₹20,207 Cr	₹20,285 Cr	₹25,160 Cr	₹29,066 Cr	₹34,118 Cr	₹45,075 Cr	₹47,818 Cr	₹49,973 Cr	₹43,275 Cr	₹48,170 Cr
Total Liabilities	₹25,807 Cr	₹31,129 Cr	₹39,248 Cr	₹40,834 Cr	₹47,424 Cr	₹51,813 Cr	₹58,558 Cr	₹78,250 Cr	₹79,726 Cr	₹82,755 Cr	₹86,388 Cr	₹1.14 Lakh Cr
Fixed Assets	₹8,462 Cr	₹8,524 Cr	₹8,390 Cr	₹7,957 Cr	₹9,074 Cr	₹10,583 Cr	₹10,282 Cr	₹10,039 Cr	₹10,190 Cr	₹10,041 Cr	₹11,353 Cr	₹11,067 Cr
Total Assets	₹25,807 Cr	₹31,129 Cr	₹39,248 Cr	₹40,834 Cr	₹47,424 Cr	₹51,813 Cr	₹58,558 Cr	₹78,250 Cr	₹79,726 Cr	₹82,755 Cr	₹86,388 Cr	₹1.14 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹1,990 Cr	₹1,713 Cr	₹2,313 Cr	₹2,411 Cr	₹3,214 Cr	₹3,170 Cr	₹3,042 Cr	₹3,012 Cr	₹2,714 Cr	₹3,743 Cr	₹5,441 Cr	₹5,973 Cr
Cash from Investing (CFI)	-₹3,556 Cr	-₹2,954 Cr	-₹4,181 Cr	-₹550.00 Cr	-₹2,403 Cr	-₹31.00 Cr	-₹7,967 Cr	-₹8,803 Cr	-₹4,025 Cr	-₹1,994 Cr	-₹2,516 Cr	-₹4,157 Cr
Cash from Financing (CFF)	₹1,917 Cr	₹1,498 Cr	₹1,717 Cr	-₹1,926 Cr	₹2,555 Cr	-₹2,581 Cr	₹3,827 Cr	₹7,308 Cr	-₹3,452 Cr	-₹1,468 Cr	-₹2,808 Cr	-₹1,969 Cr
Free Cash Flow (FCF)	₹2,086 Cr	₹1,224 Cr	₹1,151 Cr	₹2,270 Cr	₹2,238 Cr	₹2,384 Cr	₹2,493 Cr	₹2,379 Cr	₹176.00 Cr	₹3,137 Cr	₹3,941 Cr	₹4,592 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	70	123	134	184	131	168	136	94	71	67	60	58
Inventory Days	0	0	0	0	0	0	0	0	0	0	0	0
Cash Conversion Cycle (Days)	70	123	134	184	131	168	136	94	71	67	60	58
ROCE %	14%	15%	13%	15%	13%	12%	10%	7%	7%	7%	9%	8%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹906.44 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹1,907.00

DCF Fair Value

₹906.44

Graham Number

₹745.33

Margin of Safety

-56.3%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹906.44

Premium / Overvalued (Margin: -56.3%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹882	₹874	₹866	₹858
10%	₹898	₹890	₹882	₹874
12%	₹915	₹906	₹898	₹890
14%	₹931	₹923	₹914	₹906

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹906	Fairly Valued
Benjamin Graham Number	₹745	Market Priced
Historical Sector P/E	₹1,306	Premium
EV / EBITDA Multiplier	₹2,002	In-Line
Free Cash Flow Yield Model	₹1,869	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 8/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

8 / 9 Pass

Altman Z-Score

3.95 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Elevated leverage at 0.66x

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 58.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

66.03%

FIIs (Foreign)

15.58%

DIIs (Domestic)

13.60%

Government

0.15%

Public / Retail

4.79%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	65.53%	65.89%	65.89%	65.89%	65.89%	65.89%	65.89%	65.89%	65.89%	68.02%	68.02%	66.03%
+ FIIs (Foreign Portfolio)	13.83%	14.72%	14.98%	15.19%	15.22%	13.94%	13.43%	13.53%	13.61%	13.10%	13.25%	15.58%
+ DIIs (Mutual Funds / Insurance)	13.27%	12.01%	11.84%	12.48%	13.26%	14.20%	14.73%	15.15%	15.03%	13.89%	13.86%	13.60%
+ Public (Retail & HNIs)	7.37%	7.39%	7.30%	6.44%	5.62%	5.96%	5.94%	5.46%	5.48%	4.99%	4.89%	4.79%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Infrastructure & Realty.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

ADANIPORTS Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

ADANIPORTS Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

ADANIPORTS Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹2,440.96

Accelerated market share capture in Infrastructure & Realty, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹2,135.84

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 29x P/E.

🐻 Bear Case (15%) -12.0%

₹1,678.16

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Infrastructure & Realty)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:38 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Adani Ports & SEZ Ltd (ADANIPORTS)	Target Stock	₹1,907.00	-1.84%	29.3x	16.4%	14.1%	0.66	₹4.03 Lakh Cr
Larsen & Toubro Ltd (LT)	Heavy Engineering & EPC Infrastructure	₹4,212.00	+0.65%	28.8x	15.9%	14.6%	1.15	₹5.08 Lakh Cr
DLF Ltd (DLF)	Luxury Residential & Commercial Real Estate	₹742.65	-1.64%	37.9x	9.5%	6.3%	0.01	₹1.63 Lakh Cr
ABB India Ltd (ABB)	Sector Peer	₹6,963.00	+0.69%	94.9x	22.4%	29.9%	0.02	₹1.46 Lakh Cr
Siemens Ltd (SIEMENS)	Sector Peer	₹3,690.00	+0.96%	91.1x	19.2%	21.4%	0.02	₹1.37 Lakh Cr
Polycab India Ltd (POLYCAB)	Sector Peer	₹7,948.00	+1.47%	42.0x	23.0%	33.2%	0.02	₹1.20 Lakh Cr
Oberoi Realty Ltd (OBEROIRLTY)	Premium Residential & Mixed Use	₹1,744.30	-1.73%	29.2x	12.5%	15.0%	0.18	₹63,798 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:38:12 IST	✓ Live Sync
Financial Statements (10Y)	Adani Ports & SEZ Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Adani Ports & SEZ Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Adani Ports & SEZ Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Infrastructure & Realty)

Metric Explainer

Stock DNA Methodology

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