KEY HIGHLIGHTS
Watch Live: 31st Adani Enterprises AGM
India Now The Most Exciting Land Of Opportunities, Says Gautam Adani
Gautam Adani said he has always expressed belief in “growth with goodness” philosophy.
Adani Group to continue to consolidate what it has built while expanding horizons, he said.
'Adani Group Continues To Attract Global Investors'
Adani Group continues to attract global investment partners, said Gautam Adani.
Four Adani Group companies successfully executed secondary market transaction with GQG Partners in March, with the transaction valued at $1.87 billion.
Adani Transmission Revenue To Expand 18%, Says Gautam Adani
Adani Transmission revenue will expand 18% to cross Rs 4,000 crore in annuity income, said Gautam Adani
The power supplier will take 60% of its network in Mumbai to renewable power, making it the first mega city in the world with over 50% power from solar and wind sources, he said.
Adani Ports Aims To Be India’s Largest Transport Utility By 2030: Gautam Adani
Adani Ports & SEZ aims to be most profitable port company in the world, India’s largest transport utility by 2030, Adani Group Chairman Gautam Adani said.
Adani Ports EBITDA margin stood at 70% in FY23, he stated. The ports operator aims to be carbon neutral and triple EBITDA by 2030, he further added.
The company will commission India’s largest transhipment hub in Vizhinjam and a port in Colombo in 12-24 months, Gautam Adani said.
Gautam Adani Reaffirms 45 GW Green Energy Target
Adani Group will play a critical role in India’s journey towards becoming net carbon neutral, said Chairman Gautam Adani.
Adani Green Energy commissioned 2.14 GW hybrid solar-wind project, world’s largest, in Rajasthan and the world’s largest hybrid renewables park is coming up in the middle of the desert in Khavda, he said
Operational renewable energy portfolio grew by 49% to over 8 GW in FY23, said Adani, reaffirming the target to create 45 GW of renewable energy capacity by 2030
Adani Group FY23 Financials
Adani Group FY23 EBIDTA grew 36% to Rs 57,219 crore, the total income grew 85% to Rs 2.62 lakh crore. The group’s profit after tax grew by 82% to Rs 23,509 crore, Chairman Gautam Adani told shareholders.
Adani Group improved net debt to EBITDA ratio to 2.8x from 3.2x, Adani said, supported by accelerating cashflow.
New businesses accounted for 50% of flagship Adani Enterprises EBITDA in FY23, he said
Both Navi Mumbai Airport and copper smelter projects are on schedule, he said. "Navi Mumbai Airport preparing for operational readiness, airport transition by December 2024," said Adani.
FY23 Operational, Financial Results Testimony To Our Success, Says Gautam Adani
The operational and financial results for the fiscal ended March 2023 are testimony to the company's success and continued expansion of customer base, said Adani Enterprises Chairman Gautam Adani
Adani Group balance sheet, assets, operating cashflows continue to get stronger, he said, adding that the pace of acquiring businesses and turning them around is unmatched across India.
"National and international partnerships are proof of governance standard. Scale of international expansion has been validated by success in Australia, Israel, Bangladesh and Sri Lanka," he said.
India Set To Be A $25-30 Trillion Economy By 2050, Says Adani
India’s demographic dividend can be seen driving consumption, said Adani Enterprises chief Gautam Adani.
"UN Population Fund projects that India’s median age will be just 38 years even in 2050. India’s population seen growing by around 15% to 1.6 billion by 2050. India’s per capita income will grow over 700% to around $16,000," he said.
India is well on track to become a $25-30 trillion economy by 2050, said Adani.
"I anticipate that India will add a trillion dollars to GDP every 18 months within the next decade. India’s stock market capitalisation will grow to over $40 trillion by 2050. My belief in the growth story of our matrubhumi has never been stronger," he said.
Gautam Adani Emphasises On Stable Government
Stable government, coupled with Indian demographics and strong internal demand is a potent combination, said Adani Group Chairman Gautam Adani.
"Stable government is critical for any economy to implement policy, lay foundation for growth," he said, adding that several structural reforms in the recent times have been critical for strong, sustainable, balanced growth.
Economic Cycles Getting Increasingly Harder To Predict, Says Gautam Adani
Economic cycles are getting increasingly harder to predict, said Adani Group Chairman Gautam Adani.
India’s economy, already the world’s fifth largest, will become third largest before 2030, he added.
Potential For Massive Reset In Global Operating Models: Adani
As the world continues to be hit by multiple shocks, Adani said he sees potential for massive reset in existing global operating models.
Climate emergency, geopolitical challenges, supply chain and energy volatility and persistent inflation continue to challenge the global economy, said Adani Group Chairman Gautam Adani.
"I believe in the future of the nation we call our matrubhumi," Adani said.
Confident Of Our Governance Standards, Says Gautam Adani
Chairman Gautam Adani said that he remains confident of Adani Enterprises' governance and disclosure standards.
"It is my commitment that we will continue to strive to improve governance, disclosure standards Our track record speaks for itself," he said.
Adani said he is grateful to stakeholders for their support as the company faced challenges.
It is worth noting that Adani Group raised several billions from international investors while no credit agency internationally cut any ratings of the Adani Group, he said.
Hindenburg Report A Deliberate, Malicious Attempt, Says Adani
"Hindenburg report was a deliberate, malicious attempt at damaging Adani Group’s reputation and generate profit by driving down its stocks in the short term," said Gautam Adani at the AGM.
Hindenburg report was combination of targeted misinformation and discredited allegations the Adani Group chairman said.
The U.S.-based short-seller published report to short Adani Group stocks ahead of FPO, he said
"Parties with vested interests encouraged and promoted false narratives across various news and social media platforms, but Adani Group moved to protect investor interest and decided to withdraw FPO despite full subscription," Adani said.
The Supreme Court-constituted expert committee to look into Hindenburg allegations did not find any regulatory failure, he added.
Resilience Defined Us Over Three Decades: Gautam Adani
"Resilience is the characteristic that has defined us over three decades," said Adani.
Beginning his address at the Adani Enterprises AGGM, Chairman Gautam Adani said that he never imagined Adani Group would become one of the largest Indian conglomerates
Grateful to those who have enabled the company to come this far, the Adani Group chief said, adding that the company's true ambitions still lie ahead.
Adani Enterprises, Adani Total Gas AGMs Today
Shareholders of Adani Enterprises Ltd. and Adani Total Gas Ltd. will convene on Tuesday to attend the respective annual general meetings of the two Adani Group companies.
The Adani Enterprises AGM will begin at 10:00 a.m. today, whereas the Adani Total Gas AGM will start at 12:00 p.m.
Group Chairman Gautam Adani will address the shareholders during the meetings today. Crucial announcements and group outlooks are expected to be announced during the AGMs.
Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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