Stocks to buy: Adani Ports & Special Economic Zone, engaged in the development, operation, and maintenance of port infrastructure, has seen its shares steadily rise in recent sessions. The boost follows the company’s in-line performance for the March quarter and its strong revenue growth guidance for the current financial year.
Following its Q4FY25 results, both domestic and global brokerages raised their target prices for the stock, citing Adani Ports’ leadership as India’s largest private port operator and its strategic presence across the country’s coastline that facilitates seamless maritime trade.
In its latest report, domestic brokerage firm Anand Rathi initiated coverage on the stock with a ‘Buy’ rating and set a target price of ₹1,600 per share, indicating an upside potential of nearly 20% from the stock’s previous closing price.
The brokerage highlighted the company’s commitment to future growth through continued investments in ports and end-to-end logistics, aiming to more than double its port capacity and triple its logistics capacity by FY29. With these ambitious expansion plans, the company is poised for strong cargo volume growth, and its market share is expected to rise to 34–35% by FY30.
Anand Rathi also stated that Adani Ports’ Q4FY25 and FY25 performance was broadly in line with their expectations. It projects the company to grow at 1.5–2.0x India’s overall cargo volume, driven by market share gains and capacity expansion.
Additionally, the brokerage emphasized the company's logistics business, which it believes will enhance last-mile connectivity and add value to domestic port operations. It expects Adani Ports to report 11% growth in cargo volumes over FY25–27, driving a CAGR of 13% in revenue, 15% in EBITDA, and 20% in PAT during the same period.
Ongoing developments such as greenfield port projects, deeper penetration into value-added logistics, and deployment of technology for operational efficiency are expected to further strengthen the company’s competitive edge.
Logistics—both container and non-container—are likely to be significant growth drivers, aligning with the company’s “waterfront to customer gate” strategy.
Q4FY25 earnings snapshot
Thursday reported a 50 per cent jump in its March quarter net profit, reaching ₹3,025 crore. In the same period last year, the company reported a net profit of ₹2,015 crore. Cargo handled by APSEZ-operated 15 ports soared 8 per cent to 118 million tonnes in Q4 and by 7 per cent to 450 million tonnes in the full fiscal (2024-25).
The country's top private port operator said it expects revenue to grow in the range of 15.8 per cent to 22.2 per cent in the current financial year that started on April 1 (2025-26). Its revenue grew 16 per cent in the last fiscal to ₹31,079 crore.
In 2024-25 (FY25), APSEZ's revenue from the ports business, its biggest, climbed 12 per cent, while the logistics business jumped 39 per cent, led by higher container and bulk cargo volumes.
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