Adani Ports may outperform on volume, profit growth expectations for FY27

•Adani Ports may outperform due to volume recovery and port capacity expansion.
•Diversification into logistics and marine services supports growth expectations.
•JM Financial Research expects APSEZ to exceed FY27 operating profit guidance of Rs 25,000-26,000 crore.
•Stock trades at around 23 times FY28 earning premium.