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Motilal Oswal Report
Adani Ports and Special Economic Zone Ltd. is likely to outpace India's overall growth, driven by a balanced port mix along India's western and eastern coastlines and a diversified cargo mix.
The company continues to invest heavily in the port and logistics business to drive growth.
We expect Adani Ports to report 10% growth in cargo volumes over FY24-27. This would drive a revenue/Ebitda/profit after tax compound annual growth rate of 15%/15%/21% over FY24-27. We reiterate our Buy rating with a target price of Rs 1,780 (premised on 18 times Sep-26 enterprise value/Ebitda).
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