Fundamentals scanner
Every ratio from the Fundamental Analysis track, computed on a real company and annotated with what the number actually means. Then the three financial statements, so you can do the cash-flow check yourself.
Adani Ports & SEZ
IndustrialsBullish- Market cap
- ₹3,91,673 Cr
- P/E
- 29.0x
- ROE
- —
- Debt / equity
- 0.64
What the company does
Adani Ports and Special Economic Zone Limited, together with its subsidiaries, develops, operates, and maintains port infrastructure in India and internationally. The company is involved in the operation of ports and terminals, including bulk and break bulk, container, liquid, dry bulk, general, LPG/LNG, and crude cargo; terminal and ports related infrastructure development activities; and development of infrastructure at contiguous Special Economic Zone at Mundra. It also offers logistic services, which include logistic parks, container rail and bulk cargo logistic solutions, and warehousing, as well as auto, road, and agri logistic services. In addition, the company operates a fleet of dredging and reclamation service equipment comprising cutter suction, trailing suction hopper, water injection, grab, and specialized dredgers; split hopper, flat top, and jack up barges; and multi utility craft, survey vessels, floating crane, drag flow unit, and floating booster, as well as dozers, excavators, loaders, and other equipment. Further, it provides non-scheduled passenger airline services; hospital and related services; and marine services, such as pilotage, laying, mooring of vessels at berth and mid-stream, and maintenance of buoys. Additionally, the company engages in the development, construction, operation, and maintenance of railway corridors; land development activities; integrated textile park and container freight station businesses; develops inland container depots; owns and operates harbour tugs, barges, other port crafts, ocean towage and offshore support vessels; warehousing and storage facilities, hospital, and other related services; and provision of cargo storage-cum logistics services. Adani Ports and Special Economic Zone Limited was incorporated in 1998 and is headquartered in Ahmedabad, India.
Valuation — what you are paying
How the price compares to earnings, assets and cash generation.
- P/E (trailing)29.0xFair
You are paying 29.0 years of current profit for each share. The earnings yield is 3.5%.
- P/B (price to book)4.1xFair
The market values the company at 4.1× its accounting net worth. High is normal for asset-light businesses and unusual for banks.
- EV / EBITDA19.4xFair
This is the only common multiple that accounts for debt — it is what an actual acquirer would look at, because they would inherit the borrowings.
- Dividend yield0.44%Weak
Pays 0.44% of the current price out each year. Remember that yield rises when price falls — check the dividend is covered by cash flow.
Profitability — is this a good business?
Returns on capital and margins, the numerical shadow of a moat.
- Return on equity—No data
Not available.
- Return on assets—No data
Not available.
- Operating margin44.6%Strong
Keeps ₹44.6 of operating profit from every ₹100 of sales. Compare only against companies in the same industry.
- Net margin32.4%Strong
Sustained high net margins are evidence that something is stopping competitors from competing the profits away.
Financial strength — can it survive a bad year?
Leverage and liquidity. This is where fragility shows up first.
- Debt to equity0.64Fair
A conservative balance sheet that can absorb a downturn without a crisis.
- Current ratio—No data
Not available.
- Total debt₹63398.99 CrNo data
Against cash of ₹7284.73 Cr. Net debt is what matters, not gross borrowings.
- Free cash flow—No data
Not available.
Growth — is it getting bigger?
Revenue and earnings momentum, and how the two compare.
- Revenue growth (yoy)+18.6%Strong
Ask where the growth came from: more volume, higher prices, or an acquisition. They are very different in quality.
- Earnings growth (yoy)+2.4%Fair
Profits are growing slower than sales, meaning margins are compressing. The company may be buying its growth.
- Revenue (TTM)₹40430.43 CrNo data
EBITDA of ₹23293.37 Cr and operating cash flow of —.
- PEG ratio—No data
Not available.
Financial statements
Reported figures, most recent year first. All values in rupees.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | ₹38735.77 Cr | ₹30475.33 Cr | ₹26710.56 Cr | ₹20851.91 Cr |
| Cost of revenue | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Gross profit | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Operating expenses | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Operating income | — | — | — | — |
| Interest expense | — | — | — | — |
| Pre-tax income | — | — | — | — |
| Tax | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Net profit | ₹12806.21 Cr | ₹11092.31 Cr | ₹8110.64 Cr | ₹5310.18 Cr |