ADANIPORTS · Misc. Transportation · INE742F01042
Analyst mean 1.64 · 25 analysts · 80% bullishWhat the numbers mean when read together — computed from the filings, not a score.
Operating cash flow is 155% of trailing profit — the earnings are converting to cash, not just accruals.
Last operating cash flow ₹20,356 cr against trailing net profit ₹13,121 cr. A ratio at or above ~0.9 means reported profit is showing up as real cash.
Both revenue and profit grew over the last year (23.9% and 16.5%) — growth is translating to the bottom line.
Trailing revenue ₹40,431 cr, trailing profit ₹13,121 cr. Profit growing at least as fast as revenue indicates operating leverage or pricing power.
Net margin has narrowed from 36.3% to 33.7% year-on-year — profitability per rupee of sales is shrinking.
Quarter net margin 33.7% vs 36.3% four quarters earlier. Sustained compression signals pricing pressure, cost inflation, or mix deterioration.
Free cash flow is positive and consistent — the business funds itself after capex.
Latest free cash flow ₹5,074 cr. Negative in only 0 of 12 years. A self-funding business needs less external capital and dilutes less.
Borrowings rose 28% over two years while the company also carries ₹5,449 cr in investments. Why borrow at interest while parking money elsewhere is a fair question.
Borrowings moved to ₹63,566 cr from ₹49,470 cr. Simultaneous large investments can be legitimate treasury management, or a sign that reported cash is not freely available.
Markers show corporate actions (splits, bonus, dividends). Prices are split-adjusted so the series is continuous.
| Metric | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7,067 | 7,964 | 8,488 | 9,126 | 9,167 | 9,705 | 10,738 | 10,821 |
| Expenses | 2,700 | 3,161 | 3,482 | 3,631 | 3,827 | 3,919 | 4,718 | 4,568 |
| Other Income | 254 | 247 | 426 | 453 | 837 | 189 | 900 | 853 |
| Depreciation | 1,077 | 1,106 | 1,185 | 1,255 | 1,264 | 1,384 | 1,615 | 1,711 |
| Profit before tax | 2,885 | 3,020 | 3,532 | 3,848 | 3,690 | 3,611 | 3,700 | 4,307 |
| Net Profit | 2,413 | 2,518 | 3,023 | 3,311 | 3,120 | 3,043 | 3,308 | 3,650 |
| EPS | 11.32 | 11.67 | 13.95 | 15.34 | 14.39 | 13.25 | 14.45 | 15.71 |
| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 406 | 422 | 432 | 432 | 432 | 461 |
| Reserves | 30,035 | 41,399 | 44,957 | 52,346 | 61,837 | 95,498 |
| Borrowings | 35,855 | 47,935 | 53,434 | 49,470 | 51,621 | 63,566 |
| Fixed Assets | 48,291 | 62,553 | 72,224 | 75,148 | 89,616 | 131,652 |
| CWIP | 3,697 | 4,023 | 6,637 | 10,936 | 11,706 | 12,689 |
| Investments | 2,236 | 3,161 | 7,432 | 4,289 | 4,659 | 5,449 |
| Total Assets | 74,582 | 98,328 | 112,563 | 116,999 | 133,443 | 183,099 |