Adani Ports And SEZ Poised For Robust Growth Antique Says Upon Initiation — Check Target Price
Adani Ports and Special Economic Zone share price may jump 20% in next 12 months, according to Antique's new target price.
Adani Ports And Special Economic Zone Ltd. is poised for robust growth as a comfortable balance sheet position, strong cash-flow generation support, Antique said. The brokerage started the coverage with a 'Buy' rating and a target price of Rs 1,773 apiece, which implies 20% upside from the current level.
Antique also projected that Adani Ports and SEZ's revenue will grow at a rate of 15.3% till financial year 2028. The Ebitda and net profit will increase 14.01% and 16% during the same period. The brokerage values the stock at 16 times estimated consolidated Ebitda and enterprise values in the first half of the financial year 2028.
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Adani Ports and SEZ showed that it can deliver consistent volume growth, which outpaced the Indian markets with its strategic expansion. During the period of financial years 2017–2025, cargo volumes grew at 12.4% CAGR compared 4.3% rate in India, Antique said. This resulted in significant market share gains from 14.9% to 27.0%.
In financial year 2025. Adani Ports and SEZ has handled 450 million metric ton cargo at a consolidated Ebitda margin of 60.4%. The company has a capability to handle various types of cargoes which insulates it from seasonality, while long-term relationship with marquee customers give stability to revenue stream, Antique said.
Adani Ports and SEZ managed to reduce debt-to-Ebitda to 1.8x in the second-quarter of financial year 2026 from 3.3x in financial year 2021.
Adani Ports and SEZ has transformed into integrated transport utility company as it integrated its port services with growing network rail and roads and other logistic solutions. The business focuses on value chain integration by controlling critical touch points across supply chains, such as marine services and logistics.
Its domestic environmental clearance capacity stands at 1,560 million metric ton as of March 31. Now, it aims to handle 1,000 MMT of total port cargo by financial year 2029.
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