Adani Ports & SEZ has announced an upcoming interaction with investors and analysts, scheduled as part of the Adani Annual Conference – India Chapter. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was communicated to the stock exchanges on May 6, 2026.

Investor/Analyst Interaction Details

The company has provided the following schedule for the upcoming meeting:

Note: The date is subject to changes due to exigencies on the part of investors/company.

Presentation and Further Information

Adani Ports and Special Economic Zone Limited has uploaded the presentation for the meeting on its official website at www.adaniports.com . Investors and analysts seeking additional information may also reach out to the company at investor.apsezl@adani.com .

The intimation was signed by Kamlesh Bhagia, Company Secretary, Adani Ports and Special Economic Zone Limited, on May 6, 2026.

Adani Ports & SEZ has attracted broad-based bullish coverage from four leading global brokerages following its latest quarterly results. Goldman Sachs, Jefferies, Nomura, and HSBC have each maintained a Buy rating on the stock, with target prices spanning ₹1,710 to ₹1,980. The convergence of positive views reflects strong Q4 operational performance, healthy margin profiles, and a compelling long-term growth outlook anchored by capacity expansion and volume momentum.

Q4 Performance Highlights

The quarter delivered notable outperformance across key metrics, with multiple brokerages flagging EBITDA beats and strong top-line growth. Cargo volumes grew +13% YoY, while logistics and marine segments posted growth of +10% and +101% YoY, respectively. Port margins remained high at approximately 66.4%, and logistics margins showed improvement. HSBC specifically noted Q4 EBITDA growth of +20% YoY, which beat expectations despite headwinds from Middle East disruptions. Jefferies highlighted a Q4 EBITDA beat of approximately 9%, driven by better domestic realizations.

Brokerage Views and Target Prices

Each brokerage has outlined distinct factors underpinning their positive stance. The following table summarizes the key ratings, target prices, and primary investment rationale from each firm:

FY27 Guidance and Long-Term Outlook

Management's FY27 guidance calls for revenue growth of 11–16% and EBITDA growth of 9–14%, supported by robust capital expenditure plans. Goldman Sachs and Jefferies both highlighted this guidance as a key pillar of their investment thesis. Jefferies further noted that the long-term outlook is supported by volume growth, capacity expansion, and industrialisation trends, with a focus on approximately 1% annual ROCE improvement.

Nomura raised its FY28 EBITDA estimate by +6%, implying an approximately 19% CAGR, and cited the company's capacity expansion target of 1,000MT by 2030 as a structural growth driver. The brokerage also pointed to healthy long-term revenue and EBITDA CAGRs of approximately 19% and 18%, respectively, at a reasonable approximately 13x FY28 EV/EBITDA valuation.

HSBC's Structural Growth Thesis

HSBC raised its target price to ₹1,950, underpinning its Buy call with a multi-year structural growth thesis. The brokerage projects approximately 18% EBITDA CAGR and approximately 20% ROCE guidance through FY31, driven by organic growth, high capital expenditure deployment, and a $9bn M&A headroom. HSBC acknowledged the resilience of the company's outlook despite disruptions stemming from the Middle East, reinforcing confidence in the long-term earnings trajectory.

Summary

Adani Ports and Special Economic Zone's Q4 results and FY27 guidance have reinforced conviction among major global brokerages. Strong cargo volume growth, high port margins, and EBITDA beats across the quarter, combined with management's clear growth roadmap and capacity expansion plans, have supported Buy ratings and target prices ranging from ₹1,710 to ₹1,980 across Goldman Sachs, Jefferies, Nomura, and HSBC.