Gautam Adani: Adani Group’s Success and Future Plans

Ahmedabad (Gujarat) [India], June 24: Gautam Adani, Chairman of Adani Group, addressed the Annual General Meeting (AGM) of Adani Enterprises, stating, “We are Stronger Than Ever. And our best is yet to come.”

Responding to Hindenburg Charges

Gautam Adani spoke about the baseless accusations made by a foreign short seller, which questioned the group’s hard work. He emphasized that the group’s integrity and reputation were defended successfully, with validation from the apex court, rating agencies, and global investors like GQG Partners, Total Energies, IHC, QIA, and the US Development Finance Corporation.

Financial Resilience

To restore market confidence, the group pre-paid Rs 17,500 crore in debt, reducing its debt to EBITDA ratio to 2.2 times. This has strengthened the group’s financial resilience and provided room for future expansion.

Performance Highlights

Adani Enterprises had a fantastic year, with airports witnessing double-digit growth and record passenger numbers. Kutch copper commenced operations, and Adani Ports & SEZ handled a record 420 MMT of cargo. Adani Green Energy revised its FY30 target to 50 GW, adding 2.8 GW of green energy in 2023-24. Adani Power’s capacity increased by 12% to 15,250 MW, and Adani Energy Solutions expanded its transmission and smart metering order books.

Expansion in Cement and Media

Following the acquisition of ACC and Ambuja Cements, the group’s cement capacity rose to 79 MTPA, with a target of 140 MTPA by 2028. NDTV expanded regionally and digitally, with a 39% increase in global digital traffic.

Adani Foundation’s Reach

The Adani Foundation now reaches 9.1 million individuals across 6,769 villages in 19 states.

India’s Growth

Gautam Adani praised the government’s focus on infrastructure development, predicting that India will become a USD 30 trillion economy by 2032.