Adani group to put $15-20 Billion across businesses over 5 years

Gautam Adani announced that the Adani Group intends to invest $15-20 billion in investments across its various enterprises over the next five years to facilitate its next growth phase.

He emphasised the conglomerate's robust financial position and strong business performance to dismiss persistent scrutiny.

The substantial profits generated from diverse operations spanning seaports, airports, renewable energy facilities, data centres, cement production, and utilities have established India's foremost infrastructure organisation.

The group's mission extends beyond market service to contribute to the nation's development trajectory.

Speaking at the group's virtual annual general meeting, he addressed recent allegations from US authorities regarding an alleged bribery scheme for renewable energy contracts.

He clarified that no Adani Group member faces charges under the US Foreign Corrupt Practices Act (FCPA) or for conspiracy to obstruct justice.

In January 2023, Hindenburg Research, a US short-seller, released a critical report labelling the Adani Group as "the largest con in corporate history". The consequences were immediate, with share prices falling sharply, resulting in a market value loss exceeding $ 150 billion at its lowest point, and leading to the cancellation of the group's largest public offering.

The group had begun recovering through debt reduction, decreasing founder's pledged shares, securing investments from both promoters and notable investors, and concentrating on core operations.

However, this progress was interrupted when US authorities alleged that Adani and his associates had made improper payments to obtain Indian power supply contracts and provided misleading information to US investors during fundraising activities.

The Adani group has consistently rejected all wrongdoing accusations. The organisation continued its business focus, which led to substantial recovery in most of its stock values and achievement of record-breaking earnings.

Regarding consolidated figures, the group achieved 7% revenue growth, 8.2% EBITDA growth, maintaining a healthy net debt-to-EBITDA ratio of 2.6x. The total revenues reached Rs 2,71,664 crore with adjusted EBITDA of Rs 89,806 crore.

Adani, who ranks as Asia's second-wealthiest individual after Mukesh Ambani, emphasised that his organisation aims beyond business development.
The conglomerate projects substantial capital investments across its operations.

Regarding operational achievements, the power generation division, Adani Power, exceeded 100 billion units of generation and aims to achieve 31 GW capacity by 2030.