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Gautam Adani Declares 'We Are Stronger Than Ever' Amidst Baseless Accusations

Addressing the Annual General Meeting (AGM) of Adani Enterprises, Group Chairman Gautam Adani declared, “We are Stronger Than Ever. And our best is yet to come.” Regarding the Hindenburg allegations, Adani remarked, “We were faced with baseless accusations made by a foreign short seller that questioned our decades of hard work. In the face of […]

Addressing the Annual General Meeting (AGM) of Adani Enterprises, Group Chairman Gautam Adani declared, “We are Stronger Than Ever. And our best is yet to come.”

Regarding the Hindenburg allegations, Adani remarked, “We were faced with baseless accusations made by a foreign short seller that questioned our decades of hard work. In the face of an unprecedented attack on our integrity and reputation, we fought back and proved that no challenge could weaken the foundations on which your Group has been established.”

He further mentioned that the company’s stance was validated by the country’s apex court and corroborated by rating agencies and the financial community. “Our commitment to operational excellence and transparent disclosures was validated not only by rating agencies and the well-informed financial community, but also by respected global investors like GQG Partners, Total Energies, IHC, QIA, and the US Development Finance Corporation—all of whom chose to invest in us.”

Adani group reduced its debt ratio, says Gautam Adani

To restore market confidence, the group pre-paid Rs 17,500 crore in margin-led financing debt. The company reduced its debt to EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) ratio to 2.5 times within six months, and it now stands at 2.2 times, enhancing the group’s financial resilience and providing room for future expansion.

Discussing the performance of individual group companies, Adani highlighted that Adani Enterprises had an outstanding year. Airports saw double-digit growth with a record 88.6 million passengers. Kutch copper commenced operations with a capacity of 1 mmtpa.

Adani Ports & SEZ also had an exceptional year, surpassing 400 MMT (million metric tons) of cargo and handling a record 420 MMT. Ten of the group’s ports achieved lifetime high cargo volumes.

In renewable energy, Adani Green Energy’s Khavda park was a notable accomplishment. The company has revised its FY30 target from 45 GW to 50 GW, adding 2.8 GW of green energy in 2023-24.

Adani Power’s operating capacity increased by 12 percent to 15,250 MW.

Adani Energy Solutions continued to commission crucial transmission infrastructure, including two 765 kV lines. The company’s transmission order book stands at Rs 17,000 crore, and its smart metering order book has expanded to 228 lakh units.

Adani Total Gas expanded its CNG stations to over 900 stations, and PNG connections increased from 8.45 lakh to 9.76 lakh connections.

Following the acquisition of ACC and Ambuja Cements, the Adani Group’s combined cement capacity rose from 67.5 MTPA (million tonnes per annum) to 79 MTPA, with EBITDA per tonne more than doubling since the acquisition. The company is on track to reach its target of 140 MTPA by 2028.

NDTV, the company’s media entity, expanded regionally and scaled digitally, with a 39 percent increase in global digital traffic. It invested in next-generation digital infrastructure and added new facilities in BKC, Mumbai, and NCR, Delhi.

Adani also noted that the Adani Foundation now reaches 9.1 million individuals across 6,769 villages in 19 states.

Commenting on India’s growth, Adani praised the central and state governments’ focus on infrastructure development and projected the country to become a USD 30 trillion economy by 2032.Gautam Adani Declares ‘We Are Stronger Than Ever’ Amidst Baseless Accusations

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Adani EnterprisesAnnual General MeetingGautam AdaniTDGThe Daily Guardian