# Marine Port & Services — company-by-company sector analysis

> Marine Port & Services: Adani Ports & Special Economic Zone Ltd owns the largest revenue base AND the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-29. Not investment advice.

## Bottom line

Marine Port & Services has outperformed NIFTY 500 by 9.6% over 52 weeks and 6.9% over 13 weeks. 2 of 3 covered companies beat NIFTY on Mansfield relative strength, while 2 of 3 beat the sector itself. Adani Ports & Special Economic Zone Ltd leads with revenue of ₹38,736 crore, based on 3 of 3 comparable companies through Mar 2026.

### Is the Marine Port & Services sector outperforming NIFTY 500?

Marine Port & Services has outperformed NIFTY 500 by 9.6% over 52 weeks and 6.9% over 13 weeks. 2 of 3 covered companies beat NIFTY on Mansfield relative strength, while 2 of 3 beat the sector itself.

### Which Marine Port & Services company is largest by revenue?

Adani Ports & Special Economic Zone Ltd leads with revenue of ₹38,736 crore, based on 3 of 3 comparable companies through Mar 2026.

### Which Marine Port & Services company is growing fastest?

Adani Ports & Special Economic Zone Ltd has the fastest current revenue growth at 24.6%, across 3 of 3 comparable companies.

### Which Marine Port & Services company has the strongest 4-Factor Sector Score?

Gujarat Pipavav Port Ltd ranks first at 78.6/100 with 86.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Marine Port & Services company reports the most CAPEX?

JSW Infrastructure Ltd reports the largest latest CAPEX at ₹53 crore, with 1 of 3 companies comparable.

### Which Marine Port & Services company has the least gross debt?

Gujarat Pipavav Port Ltd has the lowest comparable gross debt at ₹37 crore. Adani Ports & Special Economic Zone Ltd has the highest at ₹63,566 crore.

### Which Marine Port & Services company has the lowest comparable PEG?

Gujarat Pipavav Port Ltd has the lowest comparable Guarded PEG at 0.77, among 3 of 3 companies that pass the metric’s comparability rules.

### How much history does this Marine Port & Services comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

Marine Port & Services has outperformed NIFTY 500 by 9.6% over the last 52 weeks. Over 13 weeks the gap is a lead of 6.9%. 2 of 3 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is broad. Adani Ports & Special Economic Zone Ltd is the strongest against the sector itself at +7.5%.

13-week sector return versus NIFTY 500: 6.9%
52-week sector return versus NIFTY 500: 9.6%
Stocks leading NIFTY: 2/3
Stocks leading sector: 2/3

Central tension: The central tension: current leadership is concentrated, so durability matters more than rank.

Companies: 3
Combined market value: ₹4.9 L Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Gujarat Pipavav Port Ltd (GPPL): 79/100 — Favorable setup; evidence 87%
   - Growth & earnings 32.0/35 | Capital efficiency 22.6/25 | Valuation 17.9/20 | Relative strength 6.1/20
   - Exact sum: 32 + 22.6 + 17.9 + 6.1 = 78.6
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -1.5% and the one-year return is -8.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
2. JSW Infrastructure Ltd (JSWINFRA): 59/100 — Mixed-positive evidence; evidence 97%
   - Growth & earnings 14.7/35 | Capital efficiency 13.9/25 | Valuation 11.0/20 | Relative strength 19.7/20
   - Exact sum: 14.7 + 13.9 + 11 + 19.7 = 59.3
   - Decision use: Price leads the evidence: RS versus the benchmark is 14%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
3. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): 58/100 — Mixed-positive evidence; evidence 93%
   - Growth & earnings 16.0/35 | Capital efficiency 16.4/25 | Valuation 9.3/20 | Relative strength 16.7/20
   - Exact sum: 16 + 16.4 + 9.3 + 16.7 = 58.4
   - Decision use: Price leads the evidence: RS versus the benchmark is 16.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

## Revenue Scale & Growth Durability

What the numbers say: Adani Ports & Special Economic Zone Ltd is the scale leader at ₹38,736 crore, 593.8% ahead of JSW Infrastructure Ltd. Adani Ports & Special Economic Zone Ltd's growth is 24.6% from a ₹38,736 crore base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Adani Ports & Special Economic Zone Ltd is the scale benchmark; Adani Ports & Special Economic Zone Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Adani Ports & Special Economic Zone Ltd's growth falls below Adani Ports & Special Economic Zone Ltd's for two consecutive comparable reports while operating margin also compresses.

Evidence: Adani Ports & Special Economic Zone Ltd · ₹38,736 crore | 593.8% versus #2 · JSW Infrastructure Ltd | 8/8 recent comparable periods | 3/3 companies · 58 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): ₹38.7K Cr
2. JSW Infrastructure Ltd (JSWINFRA): ₹5.6K Cr
3. Gujarat Pipavav Port Ltd (GPPL): ₹1.2K Cr

### Revenue growth — fastest growers
1. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): 25%
2. JSW Infrastructure Ltd (JSWINFRA): 19%
3. Gujarat Pipavav Port Ltd (GPPL): 17%

### 20-quarter Revenue history
- ADANIPORTS: Sep 2021 ₹3.5K Cr | Dec 2021 ₹3.8K Cr | Mar 2022 ₹5.0K Cr | Jun 2022 ₹4.6K Cr | Sep 2022 ₹5.2K Cr | Dec 2022 ₹4.8K Cr | Mar 2023 ₹5.8K Cr | Jun 2023 ₹6.2K Cr | Sep 2023 ₹6.6K Cr | Dec 2023 ₹6.9K Cr | Mar 2024 ₹6.9K Cr | Jun 2024 ₹7.6K Cr | Sep 2024 ₹7.1K Cr | Dec 2024 ₹8.0K Cr | Mar 2025 ₹8.5K Cr | Jun 2025 ₹9.1K Cr | Sep 2025 ₹9.2K Cr | Dec 2025 ₹9.7K Cr | Mar 2026 ₹10.7K Cr | Jun 2026 —
- JSWINFRA: Sep 2021 ₹526 Cr | Dec 2021 ₹501 Cr | Mar 2022 ₹701 Cr | Jun 2022 ₹822 Cr | Sep 2022 ₹658 Cr | Dec 2022 ₹798 Cr | Mar 2023 ₹915 Cr | Jun 2023 ₹878 Cr | Sep 2023 ₹848 Cr | Dec 2023 ₹940 Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹1.0K Cr | Sep 2024 ₹1.0K Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹1.3K Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.5K Cr | Jun 2026 ₹1.4K Cr
- GPPL: Sep 2021 ₹195 Cr | Dec 2021 ₹169 Cr | Mar 2022 ₹221 Cr | Jun 2022 ₹208 Cr | Sep 2022 ₹226 Cr | Dec 2022 ₹249 Cr | Mar 2023 ₹235 Cr | Jun 2023 ₹215 Cr | Sep 2023 ₹253 Cr | Dec 2023 ₹270 Cr | Mar 2024 ₹251 Cr | Jun 2024 ₹246 Cr | Sep 2024 ₹227 Cr | Dec 2024 ₹263 Cr | Mar 2025 ₹252 Cr | Jun 2025 ₹250 Cr | Sep 2025 ₹299 Cr | Dec 2025 ₹292 Cr | Mar 2026 ₹317 Cr | Jun 2026 —

### 20-quarter Revenue growth history
- ADANIPORTS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 1.8% | Sep 2022 48% | Dec 2022 26% | Mar 2023 15% | Jun 2023 35% | Sep 2023 28% | Dec 2023 45% | Mar 2024 19% | Jun 2024 21% | Sep 2024 6.3% | Dec 2024 15% | Mar 2025 23% | Jun 2025 21% | Sep 2025 30% | Dec 2025 22% | Mar 2026 27% | Jun 2026 —
- JSWINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 25% | Dec 2022 59% | Mar 2023 31% | Jun 2023 6.8% | Sep 2023 29% | Dec 2023 18% | Mar 2024 20% | Jun 2024 15% | Sep 2024 18% | Dec 2024 26% | Mar 2025 17% | Jun 2025 21% | Sep 2025 26% | Dec 2025 14% | Mar 2026 19% | Jun 2026 18%
- GPPL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 30% | Sep 2022 16% | Dec 2022 47% | Mar 2023 6.3% | Jun 2023 3.4% | Sep 2023 12% | Dec 2023 8.4% | Mar 2024 6.8% | Jun 2024 14% | Sep 2024 -10% | Dec 2024 -2.6% | Mar 2025 0.4% | Jun 2025 1.6% | Sep 2025 32% | Dec 2025 11% | Mar 2026 26% | Jun 2026 —

## Operating Economics & Margin Trend

What the numbers say: Gujarat Pipavav Port Ltd leads both opm at 70% and margin change at +8 percentage points.

Investor read: Gujarat Pipavav Port Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Gujarat Pipavav Port Ltd · 70% | 25% versus #2 · Adani Ports & Special Economic Zone Ltd | 5/8 recent comparable periods | 3/3 companies · 58 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Gujarat Pipavav Port Ltd (GPPL): 70%
2. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): 56%
3. JSW Infrastructure Ltd (JSWINFRA): 47%

### Margin change — fastest expanders
1. Gujarat Pipavav Port Ltd (GPPL): +8.0 pp
2. JSW Infrastructure Ltd (JSWINFRA): 0.0 pp
3. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): −3.0 pp

### 20-quarter OPM history
- ADANIPORTS: Sep 2021 65% | Dec 2021 64% | Mar 2022 50% | Jun 2022 41% | Sep 2022 55% | Dec 2022 56% | Mar 2023 56% | Jun 2023 59% | Sep 2023 55% | Dec 2023 61% | Mar 2024 58% | Jun 2024 63% | Sep 2024 62% | Dec 2024 60% | Mar 2025 59% | Jun 2025 60% | Sep 2025 58% | Dec 2025 60% | Mar 2026 56% | Jun 2026 —
- JSWINFRA: Sep 2021 48% | Dec 2021 26% | Mar 2022 41% | Jun 2022 54% | Sep 2022 52% | Dec 2022 47% | Mar 2023 52% | Jun 2023 51% | Sep 2023 53% | Dec 2023 51% | Mar 2024 53% | Jun 2024 51% | Sep 2024 52% | Dec 2024 50% | Mar 2025 50% | Jun 2025 47% | Sep 2025 48% | Dec 2025 48% | Mar 2026 51% | Jun 2026 47%
- GPPL: Sep 2021 56% | Dec 2021 51% | Mar 2022 58% | Jun 2022 54% | Sep 2022 53% | Dec 2022 56% | Mar 2023 55% | Jun 2023 49% | Sep 2023 60% | Dec 2023 59% | Mar 2024 61% | Jun 2024 61% | Sep 2024 58% | Dec 2024 53% | Mar 2025 62% | Jun 2025 59% | Sep 2025 59% | Dec 2025 55% | Mar 2026 70% | Jun 2026 —

### 20-quarter Margin change history
- ADANIPORTS: Sep 2021 −14.5 pp | Dec 2021 −8.0 pp | Mar 2022 −14.2 pp | Jun 2022 −7.7 pp | Sep 2022 −9.1 pp | Dec 2022 −7.8 pp | Mar 2023 +6.3 pp | Jun 2023 +17.7 pp | Sep 2023 −0.5 pp | Dec 2023 +5.0 pp | Mar 2024 +2.0 pp | Jun 2024 +4.0 pp | Sep 2024 +7.0 pp | Dec 2024 −1.0 pp | Mar 2025 +1.0 pp | Jun 2025 −3.0 pp | Sep 2025 −4.0 pp | Dec 2025 0.0 pp | Mar 2026 −3.0 pp | Jun 2026 —
- JSWINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +3.9 pp | Dec 2022 +20.8 pp | Mar 2023 +10.6 pp | Jun 2023 −2.5 pp | Sep 2023 +1.5 pp | Dec 2023 +4.0 pp | Mar 2024 +1.0 pp | Jun 2024 0.0 pp | Sep 2024 −1.0 pp | Dec 2024 −1.0 pp | Mar 2025 −3.0 pp | Jun 2025 −4.0 pp | Sep 2025 −4.0 pp | Dec 2025 −2.0 pp | Mar 2026 +1.0 pp | Jun 2026 0.0 pp
- GPPL: Sep 2021 −0.4 pp | Dec 2021 −4.0 pp | Mar 2022 −1.5 pp | Jun 2022 −1.0 pp | Sep 2022 −2.7 pp | Dec 2022 +4.6 pp | Mar 2023 −3.3 pp | Jun 2023 −5.1 pp | Sep 2023 +6.8 pp | Dec 2023 +3.0 pp | Mar 2024 +6.0 pp | Jun 2024 +12.0 pp | Sep 2024 −2.0 pp | Dec 2024 −6.0 pp | Mar 2025 +1.0 pp | Jun 2025 −2.0 pp | Sep 2025 +1.0 pp | Dec 2025 +2.0 pp | Mar 2026 +8.0 pp | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Adani Ports & Special Economic Zone Ltd leads with ₹12,782 crore of TTM profit, 743.1% above JSW Infrastructure Ltd. Gujarat Pipavav Port Ltd shows 30.1% growth from a ₹515 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Adani Ports & Special Economic Zone Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Adani Ports & Special Economic Zone Ltd · ₹12,782 crore | 743.1% versus #2 · JSW Infrastructure Ltd | 8/8 recent comparable periods | 3/3 companies · 58 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): ₹12.8K Cr
2. JSW Infrastructure Ltd (JSWINFRA): ₹1.5K Cr
3. Gujarat Pipavav Port Ltd (GPPL): ₹515 Cr

### Profit growth — fastest growers
1. Gujarat Pipavav Port Ltd (GPPL): 30%
2. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): 16%
3. JSW Infrastructure Ltd (JSWINFRA): -6.2%

### 20-quarter Net profit history
- ADANIPORTS: Sep 2021 ₹968 Cr | Dec 2021 ₹1.5K Cr | Mar 2022 ₹1.2K Cr | Jun 2022 ₹1.1K Cr | Sep 2022 ₹1.7K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.1K Cr | Jun 2023 ₹2.1K Cr | Sep 2023 ₹1.8K Cr | Dec 2023 ₹2.2K Cr | Mar 2024 ₹2.0K Cr | Jun 2024 ₹3.1K Cr | Sep 2024 ₹2.4K Cr | Dec 2024 ₹2.5K Cr | Mar 2025 ₹3.0K Cr | Jun 2025 ₹3.3K Cr | Sep 2025 ₹3.1K Cr | Dec 2025 ₹3.0K Cr | Mar 2026 ₹3.3K Cr | Jun 2026 —
- JSWINFRA: Sep 2021 ₹100 Cr | Dec 2021 ₹94 Cr | Mar 2022 ₹18 Cr | Jun 2022 ₹190 Cr | Sep 2022 ₹31 Cr | Dec 2022 ₹116 Cr | Mar 2023 ₹302 Cr | Jun 2023 ₹322 Cr | Sep 2023 ₹256 Cr | Dec 2023 ₹254 Cr | Mar 2024 ₹329 Cr | Jun 2024 ₹297 Cr | Sep 2024 ₹374 Cr | Dec 2024 ₹336 Cr | Mar 2025 ₹516 Cr | Jun 2025 ₹390 Cr | Sep 2025 ₹369 Cr | Dec 2025 ₹365 Cr | Mar 2026 ₹424 Cr | Jun 2026 ₹358 Cr
- GPPL: Sep 2021 ₹46 Cr | Dec 2021 ₹45 Cr | Mar 2022 ₹74 Cr | Jun 2022 ₹59 Cr | Sep 2022 ₹72 Cr | Dec 2022 ₹84 Cr | Mar 2023 ₹97 Cr | Jun 2023 ₹68 Cr | Sep 2023 ₹92 Cr | Dec 2023 ₹116 Cr | Mar 2024 ₹66 Cr | Jun 2024 ₹110 Cr | Sep 2024 ₹75 Cr | Dec 2024 ₹99 Cr | Mar 2025 ₹112 Cr | Jun 2025 ₹104 Cr | Sep 2025 ₹161 Cr | Dec 2025 ₹108 Cr | Mar 2026 ₹142 Cr | Jun 2026 —

### 20-quarter Profit growth history
- ADANIPORTS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -19% | Sep 2022 80% | Dec 2022 -9.6% | Mar 2023 -4.4% | Jun 2023 94% | Sep 2023 1.4% | Dec 2023 65% | Mar 2024 77% | Jun 2024 47% | Sep 2024 37% | Dec 2024 14% | Mar 2025 50% | Jun 2025 6.6% | Sep 2025 29% | Dec 2025 21% | Mar 2026 9.4% | Jun 2026 —
- JSWINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -69% | Dec 2022 23% | Mar 2023 1,578% | Jun 2023 69% | Sep 2023 726% | Dec 2023 119% | Mar 2024 8.9% | Jun 2024 -7.8% | Sep 2024 46% | Dec 2024 32% | Mar 2025 57% | Jun 2025 31% | Sep 2025 -1.3% | Dec 2025 8.6% | Mar 2026 -18% | Jun 2026 -8.2%
- GPPL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 79% | Sep 2022 57% | Dec 2022 87% | Mar 2023 31% | Jun 2023 15% | Sep 2023 28% | Dec 2023 38% | Mar 2024 -32% | Jun 2024 62% | Sep 2024 -18% | Dec 2024 -15% | Mar 2025 70% | Jun 2025 -5.5% | Sep 2025 115% | Dec 2025 9.1% | Mar 2026 27% | Jun 2026 —

## Capacity Spending & Returns On It

What the numbers say: JSW Infrastructure Ltd reports ₹53 crore of CAPEX; JSW Infrastructure Ltd has the highest covered intensity at 6.3%. Coverage is only 1 of 3 companies and 5 reported observations, so this is partial evidence—not a complete sector rank.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Evidence: JSW Infrastructure Ltd · ₹53 crore | Not enough peers | 5/5 recent comparable periods | 1/3 companies · 5 observations

Definition: CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

### CAPEX — largest spenders
1. JSW Infrastructure Ltd (JSWINFRA): ₹53 Cr

### CAPEX intensity — highest reinvestment intensity
1. JSW Infrastructure Ltd (JSWINFRA): 6.3%

### 20-quarter CAPEX history
- JSWINFRA: Sep 2021 ₹85 Cr | Dec 2021 — | Mar 2022 — | Jun 2022 ₹104 Cr | Sep 2022 — | Dec 2022 — | Mar 2023 ₹52 Cr | Jun 2023 ₹58 Cr | Sep 2023 ₹53 Cr | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter CAPEX intensity history
- JSWINFRA: Sep 2021 16% | Dec 2021 — | Mar 2022 — | Jun 2022 13% | Sep 2022 — | Dec 2022 — | Mar 2023 5.7% | Jun 2023 6.6% | Sep 2023 6.3% | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Debt Load & Balance-Sheet Headroom

What the numbers say: Gujarat Pipavav Port Ltd has the clearest covered balance-sheet capacity with ₹639 crore net cash and gross debt of ₹37 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Evidence: Gujarat Pipavav Port Ltd · ₹37 crore | 99.5% versus #2 · JSW Infrastructure Ltd | 8/8 recent comparable periods | 3/3 companies · 56 observations

Definition: Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

### Gross debt — lowest gross debt
1. Gujarat Pipavav Port Ltd (GPPL): ₹37 Cr
2. JSW Infrastructure Ltd (JSWINFRA): ₹6.9K Cr
3. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): ₹63.6K Cr

### Net debt — lowest net debt
1. Gujarat Pipavav Port Ltd (GPPL): ₹-639 Cr
2. JSW Infrastructure Ltd (JSWINFRA): ₹4.6K Cr
3. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): ₹56.1K Cr

### 20-quarter Gross debt history
- ADANIPORTS: Sep 2021 ₹46.2K Cr | Dec 2021 ₹46.2K Cr | Mar 2022 ₹47.9K Cr | Jun 2022 ₹47.7K Cr | Sep 2022 ₹46.2K Cr | Dec 2022 ₹46.2K Cr | Mar 2023 ₹53.4K Cr | Jun 2023 ₹53.3K Cr | Sep 2023 ₹50.1K Cr | Dec 2023 ₹50.1K Cr | Mar 2024 ₹49.5K Cr | Jun 2024 ₹49.3K Cr | Sep 2024 ₹50.5K Cr | Dec 2024 ₹50.5K Cr | Mar 2025 ₹51.6K Cr | Jun 2025 ₹51.5K Cr | Sep 2025 ₹56.9K Cr | Dec 2025 ₹56.9K Cr | Mar 2026 ₹63.6K Cr | Jun 2026 —
- JSWINFRA: Sep 2021 ₹4.3K Cr | Dec 2021 ₹4.3K Cr | Mar 2022 ₹4.7K Cr | Jun 2022 ₹4.7K Cr | Sep 2022 ₹4.7K Cr | Dec 2022 ₹4.6K Cr | Mar 2023 ₹4.6K Cr | Jun 2023 ₹4.5K Cr | Sep 2023 ₹4.6K Cr | Dec 2023 ₹4.6K Cr | Mar 2024 ₹4.8K Cr | Jun 2024 ₹4.8K Cr | Sep 2024 ₹4.8K Cr | Dec 2024 ₹4.8K Cr | Mar 2025 ₹5.0K Cr | Jun 2025 ₹5.0K Cr | Sep 2025 ₹5.3K Cr | Dec 2025 ₹5.3K Cr | Mar 2026 ₹6.9K Cr | Jun 2026 ₹6.9K Cr
- GPPL: Sep 2021 ₹35 Cr | Dec 2021 ₹35 Cr | Mar 2022 ₹47 Cr | Jun 2022 ₹47 Cr | Sep 2022 — | Dec 2022 — | Mar 2023 ₹79 Cr | Jun 2023 ₹79 Cr | Sep 2023 ₹88 Cr | Dec 2023 ₹88 Cr | Mar 2024 ₹79 Cr | Jun 2024 ₹79 Cr | Sep 2024 ₹65 Cr | Dec 2024 ₹65 Cr | Mar 2025 ₹63 Cr | Jun 2025 ₹63 Cr | Sep 2025 ₹51 Cr | Dec 2025 ₹51 Cr | Mar 2026 ₹37 Cr | Jun 2026 —

### 20-quarter Net debt history
- ADANIPORTS: Sep 2021 ₹32.8K Cr | Dec 2021 ₹32.8K Cr | Mar 2022 ₹38.5K Cr | Jun 2022 ₹38.6K Cr | Sep 2022 ₹40.3K Cr | Dec 2022 ₹40.3K Cr | Mar 2023 ₹47.0K Cr | Jun 2023 ₹47.0K Cr | Sep 2023 ₹43.0K Cr | Dec 2023 ₹43.0K Cr | Mar 2024 ₹44.4K Cr | Jun 2024 ₹44.4K Cr | Sep 2024 ₹43.1K Cr | Dec 2024 ₹43.1K Cr | Mar 2025 ₹45.4K Cr | Jun 2025 ₹45.4K Cr | Sep 2025 ₹45.7K Cr | Dec 2025 ₹45.7K Cr | Mar 2026 ₹56.1K Cr | Jun 2026 —
- JSWINFRA: Sep 2021 ₹3.7K Cr | Dec 2021 ₹3.7K Cr | Mar 2022 ₹3.7K Cr | Jun 2022 ₹3.7K Cr | Sep 2022 ₹3.6K Cr | Dec 2022 ₹3.3K Cr | Mar 2023 ₹2.6K Cr | Jun 2023 ₹2.3K Cr | Sep 2023 ₹-600 Cr | Dec 2023 ₹-600 Cr | Mar 2024 ₹581 Cr | Jun 2024 ₹581 Cr | Sep 2024 ₹339 Cr | Dec 2024 ₹339 Cr | Mar 2025 ₹2.4K Cr | Jun 2025 ₹2.4K Cr | Sep 2025 ₹3.0K Cr | Dec 2025 ₹3.0K Cr | Mar 2026 ₹4.6K Cr | Jun 2026 ₹4.6K Cr
- GPPL: Sep 2021 ₹-683 Cr | Dec 2021 ₹-683 Cr | Mar 2022 ₹-808 Cr | Jun 2022 ₹-808 Cr | Sep 2022 — | Dec 2022 — | Mar 2023 ₹-815 Cr | Jun 2023 ₹-815 Cr | Sep 2023 ₹-910 Cr | Dec 2023 ₹-910 Cr | Mar 2024 ₹-965 Cr | Jun 2024 ₹-965 Cr | Sep 2024 ₹-1.0K Cr | Dec 2024 ₹-1.0K Cr | Mar 2025 ₹-1.0K Cr | Jun 2025 ₹-1.0K Cr | Sep 2025 ₹-943 Cr | Dec 2025 ₹-943 Cr | Mar 2026 ₹-639 Cr | Jun 2026 —

## Return On Capital Employed

What the numbers say: Gujarat Pipavav Port Ltd leads ROCE at 28%, 13.9 percentage points above Adani Ports & Special Economic Zone Ltd. Gujarat Pipavav Port Ltd has the strongest latest improvement at +4.2 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Gujarat Pipavav Port Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Gujarat Pipavav Port Ltd · 28% | 98.6% versus #2 · Adani Ports & Special Economic Zone Ltd | 6/8 recent comparable periods | 3/3 companies · 47 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Gujarat Pipavav Port Ltd (GPPL): 28%
2. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): 14%
3. JSW Infrastructure Ltd (JSWINFRA): 14%

### ROCE change — fastest improvers
1. Gujarat Pipavav Port Ltd (GPPL): +4.2 pp
2. JSW Infrastructure Ltd (JSWINFRA): −1.3 pp
3. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): −2.1 pp

### 20-quarter ROCE history
- ADANIPORTS: Sep 2021 9.8% | Dec 2021 — | Mar 2022 8.4% | Jun 2022 — | Sep 2022 9.4% | Dec 2022 — | Mar 2023 9.1% | Jun 2023 — | Sep 2023 10% | Dec 2023 12% | Mar 2024 12% | Jun 2024 14% | Sep 2024 12% | Dec 2024 14% | Mar 2025 12% | Jun 2025 15% | Sep 2025 13% | Dec 2025 16% | Mar 2026 10% | Jun 2026 —
- JSWINFRA: Sep 2021 8.5% | Dec 2021 — | Mar 2022 7.6% | Jun 2022 — | Sep 2022 10% | Dec 2022 13% | Mar 2023 14% | Jun 2023 14% | Sep 2023 12% | Dec 2023 16% | Mar 2024 12% | Jun 2024 17% | Sep 2024 12% | Dec 2024 16% | Mar 2025 11% | Jun 2025 15% | Sep 2025 11% | Dec 2025 15% | Mar 2026 11% | Jun 2026 14%
- GPPL: Sep 2021 12% | Dec 2021 — | Mar 2022 12% | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 15% | Jun 2023 — | Sep 2023 16% | Dec 2023 21% | Mar 2024 18% | Jun 2024 21% | Sep 2024 19% | Dec 2024 19% | Mar 2025 18% | Jun 2025 22% | Sep 2025 19% | Dec 2025 25% | Mar 2026 22% | Jun 2026 —

### 20-quarter ROCE change history
- ADANIPORTS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.4 pp | Dec 2022 — | Mar 2023 +0.7 pp | Jun 2023 — | Sep 2023 +0.8 pp | Dec 2023 — | Mar 2024 +2.6 pp | Jun 2024 — | Sep 2024 +1.4 pp | Dec 2024 +1.8 pp | Mar 2025 +0.6 pp | Jun 2025 +1.7 pp | Sep 2025 +1.3 pp | Dec 2025 +2.0 pp | Mar 2026 −2.1 pp | Jun 2026 —
- JSWINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.7 pp | Dec 2022 — | Mar 2023 +6.7 pp | Jun 2023 — | Sep 2023 +1.5 pp | Dec 2023 +3.0 pp | Mar 2024 −2.5 pp | Jun 2024 +2.9 pp | Sep 2024 +0.1 pp | Dec 2024 −0.2 pp | Mar 2025 −0.7 pp | Jun 2025 −2.2 pp | Sep 2025 −0.4 pp | Dec 2025 −1.1 pp | Mar 2026 −0.2 pp | Jun 2026 −1.3 pp
- GPPL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +3.8 pp | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 +2.9 pp | Jun 2024 — | Sep 2024 +3.0 pp | Dec 2024 −1.2 pp | Mar 2025 0.0 pp | Jun 2025 +0.4 pp | Sep 2025 +0.1 pp | Dec 2025 +5.8 pp | Mar 2026 +4.2 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: Gujarat Pipavav Port Ltd has the lowest comparable Guarded PEG at 0.77×, 43.4% below Adani Ports & Special Economic Zone Ltd. Only 3 of 3 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: Gujarat Pipavav Port Ltd · 0.77× | 43.4% versus #2 · Adani Ports & Special Economic Zone Ltd | 0/8 recent comparable periods | 3/3 companies · 33 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

### Guarded PEG — lowest PEG
1. Gujarat Pipavav Port Ltd (GPPL): 0.8
2. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): 1.4
3. JSW Infrastructure Ltd (JSWINFRA): 1.4

### P/E — lowest P/E
1. Gujarat Pipavav Port Ltd (GPPL): 14.4
2. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): 31.4
3. JSW Infrastructure Ltd (JSWINFRA): 48.5

### 20-quarter Guarded PEG history
- ADANIPORTS: Sep 2021 0.5 | Dec 2021 0.6 | Mar 2022 0.8 | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 1.4 | Sep 2023 0.6 | Dec 2023 0.9 | Mar 2024 0.6 | Jun 2024 1.2 | Sep 2024 1.2 | Dec 2024 0.7 | Mar 2025 0.9 | Jun 2025 0.8 | Sep 2025 1.4 | Dec 2025 1.6 | Mar 2026 1.4 | Jun 2026 —
- JSWINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 2.2 | Dec 2024 1.7 | Mar 2025 1.0 | Jun 2025 1.5 | Sep 2025 1.0 | Dec 2025 1.4 | Mar 2026 — | Jun 2026 —
- GPPL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 2.5 | Dec 2022 1.1 | Mar 2023 0.3 | Jun 2023 — | Sep 2023 0.4 | Dec 2023 0.5 | Mar 2024 1.3 | Jun 2024 2.9 | Sep 2024 1.3 | Dec 2024 2.0 | Mar 2025 — | Jun 2025 3.1 | Sep 2025 — | Dec 2025 1.7 | Mar 2026 0.8 | Jun 2026 —

### 20-quarter P/E history
- ADANIPORTS: Sep 2021 27.3 | Dec 2021 27.2 | Mar 2022 27.7 | Jun 2022 26.7 | Sep 2022 33.1 | Dec 2022 31.1 | Mar 2023 25.6 | Jun 2023 24.5 | Sep 2023 23.9 | Dec 2023 29.6 | Mar 2024 34.6 | Jun 2024 36.0 | Sep 2024 32.9 | Dec 2024 25.8 | Mar 2025 24.0 | Jun 2025 27.6 | Sep 2025 26.4 | Dec 2025 26.8 | Mar 2026 23.2 | Jun 2026 —
- JSWINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 52.3 | Mar 2024 42.7 | Jun 2024 57.6 | Sep 2024 65.7 | Dec 2024 54.5 | Mar 2025 50.8 | Jun 2025 46.2 | Sep 2025 42.5 | Dec 2025 37.7 | Mar 2026 32.4 | Jun 2026 43.6
- GPPL: Sep 2021 22.7 | Dec 2021 22.4 | Mar 2022 20.0 | Jun 2022 17.5 | Sep 2022 18.4 | Dec 2022 19.1 | Mar 2023 18.1 | Jun 2023 17.4 | Sep 2023 17.5 | Dec 2023 20.7 | Mar 2024 27.1 | Jun 2024 27.1 | Sep 2024 25.8 | Dec 2024 21.9 | Mar 2025 17.6 | Jun 2025 19.9 | Sep 2025 19.3 | Dec 2025 19.9 | Mar 2026 15.4 | Jun 2026 —

## Enterprise Value & Book Value

What the numbers say: Gujarat Pipavav Port Ltd leads both ev/ebitda at 8.2× and p/bv at 3.02×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: Gujarat Pipavav Port Ltd · 8.2× | 45.3% versus #2 · Adani Ports & Special Economic Zone Ltd | 0/8 recent comparable periods | 3/3 companies · 49 observations

Definition: EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

### EV/EBITDA — lowest EV/EBITDA
1. Gujarat Pipavav Port Ltd (GPPL): 8.2
2. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): 15.0
3. JSW Infrastructure Ltd (JSWINFRA): 25.0

### P/BV — lowest P/BV
1. Gujarat Pipavav Port Ltd (GPPL): 3.0
2. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): 4.3
3. JSW Infrastructure Ltd (JSWINFRA): 6.2

### 20-quarter EV/EBITDA history
- ADANIPORTS: Sep 2021 16.0 | Dec 2021 15.5 | Mar 2022 16.1 | Jun 2022 15.1 | Sep 2022 18.4 | Dec 2022 18.3 | Mar 2023 15.0 | Jun 2023 15.7 | Sep 2023 16.2 | Dec 2023 18.0 | Mar 2024 20.3 | Jun 2024 21.1 | Sep 2024 19.5 | Dec 2024 16.4 | Mar 2025 15.5 | Jun 2025 17.4 | Sep 2025 16.3 | Dec 2025 17.2 | Mar 2026 15.0 | Jun 2026 —
- JSWINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 24.3 | Mar 2024 24.8 | Jun 2024 32.2 | Sep 2024 31.8 | Dec 2024 28.4 | Mar 2025 26.9 | Jun 2025 27.3 | Sep 2025 26.3 | Dec 2025 22.6 | Mar 2026 19.8 | Jun 2026 25.0
- GPPL: Sep 2021 9.1 | Dec 2021 9.0 | Mar 2022 7.4 | Jun 2022 6.3 | Sep 2022 7.2 | Dec 2022 8.3 | Mar 2023 8.7 | Jun 2023 8.9 | Sep 2023 9.0 | Dec 2023 10.5 | Mar 2024 14.6 | Jun 2024 14.1 | Sep 2024 13.7 | Dec 2024 11.1 | Mar 2025 8.4 | Jun 2025 10.2 | Sep 2025 9.7 | Dec 2025 11.0 | Mar 2026 8.2 | Jun 2026 —

### 20-quarter P/BV history
- ADANIPORTS: Sep 2021 5.0 | Dec 2021 4.8 | Mar 2022 4.9 | Jun 2022 4.6 | Sep 2022 4.0 | Dec 2022 4.0 | Mar 2023 3.2 | Jun 2023 3.7 | Sep 2023 3.9 | Dec 2023 4.5 | Mar 2024 6.0 | Jun 2024 6.0 | Sep 2024 6.0 | Dec 2024 4.7 | Mar 2025 4.5 | Jun 2025 5.0 | Sep 2025 4.8 | Dec 2025 4.8 | Mar 2026 4.6 | Jun 2026 —
- JSWINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 5.7 | Mar 2024 7.1 | Jun 2024 8.6 | Sep 2024 9.2 | Dec 2024 8.0 | Mar 2025 7.9 | Jun 2025 6.9 | Sep 2025 7.0 | Dec 2025 5.8 | Mar 2026 5.1 | Jun 2026 6.4
- GPPL: Sep 2021 2.2 | Dec 2021 2.2 | Mar 2022 1.8 | Jun 2022 1.6 | Sep 2022 1.9 | Dec 2022 2.1 | Mar 2023 2.5 | Jun 2023 2.6 | Sep 2023 2.6 | Dec 2023 3.2 | Mar 2024 4.5 | Jun 2024 4.4 | Sep 2024 4.6 | Dec 2024 3.8 | Mar 2025 2.9 | Jun 2025 3.4 | Sep 2025 3.2 | Dec 2025 3.7 | Mar 2026 2.9 | Jun 2026 —

## Market action

Adani Ports & Special Economic Zone Ltd has the strongest one-year price move in Marine Port & Services at +22.5%. It also leads on Mansfield relative strength against NIFTY at +16.6%. 2 of 3 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-24.

### Strongest one-year price performers
1. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): 23%
2. JSW Infrastructure Ltd (JSWINFRA): 4.8%
3. Gujarat Pipavav Port Ltd (GPPL): -8.5%

### Strongest relative strength versus NIFTY 500
1. Adani Ports & Special Economic Zone Ltd (ADANIPORTS): 17%
2. JSW Infrastructure Ltd (JSWINFRA): 14%
3. Gujarat Pipavav Port Ltd (GPPL): -7.8%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- Thin comparisons: Capital expenditure have fewer than three usable current readings.

## Every company
- Adani Ports & Special Economic Zone Ltd (ADANIPORTS) — market value ₹4.1 L Cr; latest fundamentals Mar 2026
- JSW Infrastructure Ltd (JSWINFRA) — market value ₹75.2K Cr; latest fundamentals Jun 2026
- Gujarat Pipavav Port Ltd (GPPL) — market value ₹7.2K Cr; latest fundamentals Mar 2026

## Source standing of each company

Cross-checked: 3. Unverified: 0. Withheld: 0. Graded companies: 3.

Every company's second-feed figures reconcile against the primary source on overlapping reported periods, so nothing here is unverified or withheld.

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-24.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### What is the Nifty Marine Port & Services index?

The Nifty Marine Port & Services index tracks India's listed Marine Port & Services companies as a single basket. This page follows the same 3 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Marine Port & Services sector rather than to its largest constituent. Figures are as of Jun 2026.

### Which are the best Marine Port & Services stocks in India?

Ranked by this page's four-factor score, Gujarat Pipavav Port Ltd places first among 3 listed Marine Port & Services companies, followed by JSW Infrastructure Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

### How many Marine Port & Services stocks are listed in India?

This comparison covers 3 listed Marine Port & Services companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

### Which Marine Port & Services company is the biggest?

Adani Ports & Special Economic Zone Ltd is the largest, with trailing-twelve-month revenue of ₹38,736 crore, ahead of JSW Infrastructure Ltd at ₹5,583 crore. That covers 3 of 3 companies with comparable reporting through Mar 2026.

### Which Marine Port & Services company is growing fastest?

Adani Ports & Special Economic Zone Ltd has the fastest revenue growth at 24.6% year on year, across 3 of 3 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Marine Port & Services company has the best profit margins?

Gujarat Pipavav Port Ltd has the highest operating margin at 70%, from 3 of 3 comparable companies. Gujarat Pipavav Port Ltd shows the biggest recent improvement, at +8 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Marine Port & Services company makes the most profit?

Adani Ports & Special Economic Zone Ltd earns the most, at ₹12,782 crore of trailing-twelve-month net profit, from 3 of 3 comparable companies. Gujarat Pipavav Port Ltd has the fastest profit growth at 30.1%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Marine Port & Services company earns the highest return on capital?

Gujarat Pipavav Port Ltd leads on return on capital employed at 28%, across 3 of 3 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Marine Port & Services stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Gujarat Pipavav Port Ltd screens cheapest at 0.77×. Only 3 of 3 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Marine Port & Services company has the strongest balance sheet?

Gujarat Pipavav Port Ltd carries the lowest comparable gross debt at ₹37 crore, from 3 of 3 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

### Is the Marine Port & Services sector beating the market?

Marine Port & Services has outperformed NIFTY 500 by 9.6% over the last 52 weeks and 6.9% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 2 of 3 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Marine Port & Services stock has the strongest price momentum?

Adani Ports & Special Economic Zone Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Marine Port & Services company scores highest for research priority?

Gujarat Pipavav Port Ltd scores 78.6 out of 100 with 86.6% evidence confidence, from 32 points on growth and earnings, 22.6 on capital efficiency, 17.9 on valuation and 6.1 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Marine Port & Services companies does this comparison cover, and over what period?

It compares 3 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Marine Port & Services sector?

The 3 Marine Port & Services companies on this page carry ₹4,89,812 crore of combined market value. Adani Ports & Special Economic Zone Ltd is the largest at ₹4,07,409 crore, about 83% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

### How is the Marine Port & Services sector performing?

2 of the 3 covered Marine Port & Services companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 9.6% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-29.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/marine-port-services