ADANIPORTS.NS Adani Ports and Special Economic Zone Limited
INR·Price 1824.00·Mkt cap 4.20TComputed from the latest reported financials and the current market price.
Who's the real player?
A genuine play on this theme — most of its business sits right here.
Is the business healthy?
Shaky fundamentals — weak cash generation or a stretched balance sheet. Tread carefully.
- ⚠Weak FCF conversion (<50% of net income turns into free cash)
- ⚠Receivables growing much faster than revenue (channel-stuffing risk)
- Strong growth quality
- Good cash flow quality
- Negative accrual ratio indicating strong cash basis for earnings
Are the smart people buying?
No ownership-change data for this stock. The score reflects heavy growth investment (capex) and buybacks, not visible insider buying.
- High promoter or insider stake
- Strong capex growth
What is management saying?
No earnings-call transcript or filings found for this stock.
Is the price right?
Intrinsic value 730.64 vs price 1824.00 — screens expensive on a cash-flow DCF (-59.9% to intrinsic). The base FCF growth assumption of 15% is high and may not be sustainable long-term.
| Intrinsic / share | 730.64 |
| Price | 1824.00 |
| Upside to intrinsic | -59.9% |
| Reverse-DCF implied g | 25.3% |
Base FCF 72.72B · growth 15.0% · discount 12.0% · terminal 5.0%.
Sensitivity — intrinsic value / share
Each cell is the intrinsic value at that growth (across →) and discount rate (down ↓). Center ★ is the base case. Cells green = above price (cheap), red = below (expensive).
| Growth rate → | |||||
|---|---|---|---|---|---|
| Disc ↓ ╲ g | 11% | 13% | 15% | 17% | 19% |
| 10% | 805.32 | 982.4 | 1188.02 | 1426.33 | 1702.01 |
| 11% | 615.86 | 756.88 | 920.31 | 1109.38 | 1327.74 |
| 12% | 481.26 | 596.89 | ★ 730.64 | 885.1 | 1063.18 |
| 13% | 380.89 | 477.78 | 589.64 | 718.58 | 867 |
| 14% | 303.31 | 385.87 | 481 | 590.46 | 716.24 |
Through the masters' eyes
Each investor's numeric rules, checked against this stock's metrics: exact math, no guesswork. Tap one to see which rules pass, fail, and what to judge yourself.
▶
Passes 2 of 3 of Rakesh Jhunjhunwala's numeric checks. Still judge the non-numeric criteria below for yourself.
- Net margin ≥ 10% — now 33.1%
- Conservative leverage (D/E ≤ 1.0) — now 0.66
- ROE ≥ 18% — now 13.3%
- A large, scalable opportunity
- Trustworthy, ambitious management
- Conviction to hold through volatility
Couldn't check from available data: Earnings growth ≥ 15% — not available
▶
Passes 3 of 5 of Warren Buffett's numeric checks. Still judge the non-numeric criteria below for yourself.
- Net margin ≥ 10% — now 33.1%
- Positive free cash flow — now 13%
- Conservative leverage (D/E ≤ 1.0) — now 0.66
- ROE ≥ 15% — now 13.3%
- Trades below intrinsic value (margin of safety ≥ 0) — now -149.6%
- A business you can understand
- A durable competitive moat
- Honest, capable management
▶
Passes 1 of 2 of Peter Lynch's numeric checks. Still judge the non-numeric criteria below for yourself.
- Manageable debt (D/E ≤ 1.0) — now 0.66
- Solid liquidity (current ratio ≥ 1.5) — now 1.39
- A simple business you understand
- Which 'type' it is (fast grower, stalwart, cyclical…)
- A believable growth story
Couldn't check from available data: PEG ≤ 1 (growth cheap vs price) — not available; Earnings growth ≥ 15% — not available
▶
Passes 2 of 4 of Radhakishan Damani's numeric checks. Still judge the non-numeric criteria below for yourself.
- Consistent revenue (consistency ≥ 80%) — now 93.6%
- Positive net margin — now 33.1%
- High returns on capital (ROCE ≥ 18%) — now 10.3%
- Very low debt (D/E ≤ 0.5) — now 0.66
- A durable consumer franchise
- Pricing power
- A long runway, bought patiently
▶
Passes 1 of 2 of Raamdeo Agrawal's numeric checks. Still judge the non-numeric criteria below for yourself.
- Longevity: revenue consistency ≥ 70% — now 93.6%
- Quality: ROCE ≥ 18% — now 10.3%
- Durability of the growth (longevity)
- Quality and honesty of management
Couldn't check from available data: Growth: earnings CAGR ≥ 15% — not available; Price: PEG ≤ 2 — not available
▶
Passes 1 of 2 of Vijay Kedia's numeric checks. Still judge the non-numeric criteria below for yourself.
- Manageable debt (D/E ≤ 1.0) — now 0.66
- ROE ≥ 15% — now 13.3%
- Ambitious, capable management
- A small company with a large opportunity
- Patience to hold for years
Couldn't check from available data: Strong earnings growth ≥ 20% — not available
▶
Passes 2 of 6 of Benjamin Graham's numeric checks. Still judge the non-numeric criteria below for yourself.
- Debt below equity (D/E ≤ 1.0) — now 0.66
- Financially safe (Altman Z ≥ 3) — now 4.46
- P/E ≤ 15 — now 32.58
- P/B ≤ 1.5 — now 4.34
- Graham number: P/E × P/B ≤ 22.5 — now 141.4
- Strong liquidity (current ratio ≥ 1.5) — now 1.39
- A long record of stable earnings
- An uninterrupted dividend history
▶
Passes 1 of 4 of Charlie Munger's numeric checks. Still judge the non-numeric criteria below for yourself.
- Conservative leverage (D/E ≤ 1.0) — now 0.66
- High returns on capital (ROCE ≥ 15%) — now 10.3%
- ROE ≥ 15% — now 13.3%
- Trades below intrinsic value (margin of safety ≥ 0) — now -149.6%
- A high-quality, understandable business
- A durable moat
- Management of integrity
Financial statements (INR)
↗ sourceCash-flow lines highlighted — we trust cash over reported profit.
| Line | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | 387.36B | 304.75B | 267.11B | 208.52B | — |
| Operating income | 174.51B | 141.17B | 121.53B | 95.13B | — |
| EBITDA | 241.17B | 200.95B | 166.94B | 114.69B | — |
| Net income | 128.06B | 110.92B | 81.11B | 53.09B | — |
| Operating cash flow | 203.56B | 172.26B | 150.18B | 119.00B | — |
| Capex | -153.20B | -80.49B | -74.16B | -91.41B | — |
| Free cash flow | 50.36B | 91.77B | 76.01B | 27.58B | — |
| Total assets | 1.85T | 1.35T | 1.19T | 1.15T | — |
| Total equity | 961.25B | 624.35B | 529.45B | 455.56B | — |
| Total debt | 632.36B | 513.05B | 491.67B | 524.43B | — |
| Cash & equivalents | 51.62B | 34.06B | 15.76B | 11.21B | — |