With a median price-to-earnings (or "P/E") ratio of close to 25x in India, you could be forgiven for feeling indifferent about Adani Ports and Special Economic Zone Limited's (NSE:ADANIPORTS) P/E ratio of 26.4x. While this might not raise any eyebrows, if the P/E ratio is not justified investors could be missing out on a potential opportunity or ignoring looming disappointment. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. There hasn't been much to differentiate Adani Ports and Special Economic Zone's and the market's earnings growth lately. It seems that many are expecting the mediocre earnings performance to persist, which has held the P/E back. If this is the case, then at least existing shareholders won't be losing sleep over the current share price.