ADANIPORTS

Adani Ports reported 20% YoY revenue growth in Q1 FY26, with cargo volumes hitting record highs. The company continues to gain market share across India’s major ports. Debt levels remain comfortable and cash flows strong. Expansion into logistics and SEZ business is boosting earnings visibility. At ~24x FY26 EPS, valuations are fair given growth consistency. Adani Ports remains a structural bet on India’s trade and infrastructure growth story.