Goldman Sachs lowered its target price for Adani Ports and Special Economic Zone to Rs 1,710 from Rs 1,740, citing modest earnings adjustments, it reiterated a ‘Buy’ call on the stock.
The brokerage remains constructive on the company’s long‑term growth prospects, supported by steady cargo volumes, a continued ramp‑up at the Haifa port, and an improving coal outlook, while flagging geopolitical disruptions in the Middle East as a near‑term risk.
Adani Ports and Special Economic Zone (APSEZ) reported a 21 per cent YoY rise in consolidated net profit to Rs 3,043 crore for the third quarter of the financial year 2026. The company had logged a net profit of Rs 2,518 crore in the October-December period of the preceding financial year.
The company’s revenue in the reporting quarter surged by 22 per cent on a YoY basis to Rs 9.705 crore from Rs 7,964 crore in the same three-month quarter of the last fiscal. EBITDA grew by 20 per cent YoY to Rs 5,786 crore in the reporting quarter compared with Rs 4,802 crore in Q3 of FY2025.
In the total revenue pie, the share of domestic ports was at Rs 6,701 crore (Rs 5,826 crore in Q3FY25) and the share of the international ports was Rs 1,067 crore (Rs 885 crore a year ago).
For 9MFY26, Adani Ports reported 18 per cent YoY jump in net profit to Rs 9,474 crore from Rs 8,038 crore in the same nine-month period of FY25. Its revenue surged 24 per cent to Rs 27,998 crore from Rs 22,590 crore in the same period.
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