Analysts raise Adani Ports stock targets after Q2 guidance

Published on 10/29/2026 at 15:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue reached INR 11,340 crore as FY27 guidance moved to INR 44,000-46,000 crore. Jefferies set INR 2,180 for Adani Ports stock.

What changed after the results

First-half operating cash flow reached INR 13,327 crore and funded INR 10,521 crore of investments.
International ports revenue reached INR 1,839 crore, while EBITDA rose to INR 878 crore in the second quarter.
Capital expenditure guidance increased to INR 15,000-17,000 crore for fiscal year 2027.

Adani Ports, INE742F01042, Illustration mit AI erstellt.

Adani Ports (INE742F01042) reported a 24 percent increase in second-quarter revenue and a new analyst response on October 29, 2026. The company raised its fiscal year 2027 revenue and EBITDA guidance after reporting results for the quarter ended September 30, 2026, while Jefferies and Nomura lifted their targets, The Economic Times reported.

Guidance moves higher

The official October 28 release put consolidated second-quarter revenue at INR 11,340 crore, up 24 percent year over year, and EBITDA at INR 6,807 crore, up 23 percent. Profit after tax rose 18 percent to INR 3,682 crore. The figures cover the second quarter of fiscal year 2027 and provide the operating basis for the revised outlook.

Adani Ports lifted fiscal year 2027 revenue guidance from INR 43,000-45,000 crore to INR 44,000-46,000 crore. EBITDA guidance increased from INR 25,000-26,000 crore to INR 26,000-27,000 crore, while capital expenditure guidance rose from INR 12,000-14,000 crore to INR 15,000-17,000 crore. These figures come from the company's official release dated October 28, 2026.

Analysts reset their targets

Jefferies raised its target to INR 2,180 from INR 2,160 and kept its Buy rating, according to The Economic Times on October 29, 2026. The brokerage said quarterly EBITDA exceeded its estimate by 4 percent, helped by the international-ports ramp-up. Nomura raised its target to INR 2,150 from INR 2,080.

The change in analyst targets adds a market interpretation to the company announcement. It links the stronger quarter and higher guidance to revised earnings assumptions, while the larger capital program keeps execution and cash generation central to the investment case.

Growth is broadening

International ports revenue increased 71 percent to INR 1,839 crore and EBITDA reached INR 878 crore, compared with INR 261 crore a year earlier. Marine revenue increased 57 percent to INR 1,007 crore, while logistics revenue rose 21 percent to INR 1,273 crore.

Domestic ports remained the largest contributor, with revenue of INR 7,177 crore and an EBITDA margin of 72.5 percent. The mix shows why the revised targets depend on both the established domestic network and faster-growing international and marine businesses.

Market context for investors

The NSE-listed company has fiscal year 2027 third-quarter results scheduled for January 28, 2027, according to its investor-relations calendar. That date will provide the next reported test of the higher outlook.