The Adani Group intends to make a significant investment of $ 15-20 billion across various sectors over the next five years to strategize its next growth stage, stated Chairman Gautam Adani.

Additionally, he highlighted about the conglomerate's strong financial position and solid business foundation to dismiss ongoing scrutiny.

The impressive earnings generated from its diverse businesses—including seaports, airports, renewable energy parks, data centers, cement, gas, and electricity—have established it as India's largest infrastructure entity that aims to not only meet market needs but also support the nation's objectives, he remarked.

During the group's virtual annual general meeting, he mentioned the recent indictment by US authorities regarding an alleged bribery scheme designed to secure valuable renewable energy contracts, asserting that no individuals from the Adani Group have been accused of breaching the US Foreign Corrupt Practices Act (FCPA) or conspiring to impede justice.

In January 2023, the US short-seller Hindenburg Research released a damaging report labeling the Adani Group as "the largest con in corporate history."

 

The resulting impact was immediate: stock prices fell sharply, eliminating over $150 billion in market value at the lowest point, and the group's largest public offering was suddenly canceled.

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Just as the group began to recover by reducing debt, decreasing the founder's pledged shares, attracting both promoter and prominent investor equity, and refocusing on its primary operations, the conglomerate was hit with allegations from US authorities claiming that Adani and his close associates had allegedly bribed officials to secure power supply contracts in India and misled US investors during fundraising efforts.

The Adani Group has rejected all accusations of misconduct and shifted its focus, leading to a recovery in most of its stock prices and the group achieving record earnings.

Regarding business performance, Adani noted that the company's power generation unit, Adani Power, surpassed the milestone of 100 billion units generated and aims to reach 31 GW capacity by 2030.

The renewable energy division, Adani Green, is creating the world's largest renewable energy park in Khavda, Gujarat, with a goal of 50 GW by 2030.

The electricity transmission branch, Adani Energy Solutions, has managed smart metering, high-voltage connections and secured approximately Rs 44,000 crore in transmission contracts, while executing Rs 13,600 crore in smart metering projects.

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The clean energy sector, Adani New Industries, is developing electrolysers and factories to manufacture 10 GW of solar modules by the upcoming financial year.

Meanwhile, Adani Ports recorded handling 450 million tonnes of cargo, and the natural resources division achieved a record production of 47 million tonnes of coal and iron ore, aiming for over 30 percent growth by FY26.