Record investment! Adani Group to put $15-20 billion across businesses over 5 years; Gautam Adani says ‘in face of storms never backed down’
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.“Even in the face of the storms and relentless scrutiny, the Adani Group has never backed down. Instead, we proved that true leadership is not built in sunshine. It is constructed in the fire of crisis,” he said according to a PTI report.“This was tested again last year, when we faced allegations from the US Department of Justice and the SEC relating to Adani Green Energy.”Amidst the controversy, he emphasized that “the facts are that no one from the Adani Group has been charged with violating the FCPA or conspiring to obstruct justice.”He further stated, “We live in a world where negativity often echoes louder than the truth. And as we cooperate with legal processes, let me also restate that our governance is of global standards, and our compliance frameworks are non-negotiable.”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. “Not just to serve markets — but to serve our nation’s destiny. Not to chase valuation. But build valuation — brick by brick.”The conglomerate projects substantial capital investments across its operations. “And in this context, our capital investment across businesses is set to break all records. We anticipate an annual capex spend of $ 15-20 billion for the next 5 years. These are not just investments in our group, but investments in the possibilities for doing our part to build India’s infrastructure.”Regarding operational achievements, the power generation division, Adani Power, exceeded 100 billion units of generation and aims to achieve 31 GW capacity by 2030.The sustainable energy division, Adani Green, is constructing India’s largest renewable energy facility at Khavda in Gujarat, targeting 50 GW by 2030.The combined thermal, renewable and pumped hydro generation facilities are expected to reach 100 GW capacity by 2030.Adani Energy Solutions, the electricity transmission division, managed smart metering and high-voltage connections, securing transmission orders worth Rs 44,000 crore whilst implementing smart metering projects valued at Rs 13,600 crore.The clean energy division, Adani New Industries, is developing electrolysers and manufacturing facilities to produce 10 GW of solar modules in the upcoming financial year.Adani Ports achieved a milestone by handling 450 million tonnes of cargo, whilst the group’s natural resources division produced 47 million tonnes of coal and iron ore, projecting over 30 per cent growth by FY26.“Two and a half years ago, when we acquired Holcim’s India cement business, we had made a bold commitment — to double our capacity to 140 million tonnes per annum by FY27-28. Today, I am proud to share that we have already achieved 72 per cent of that target and crossed the 100 million tonnes milestone,” he said.The group’s airport division handled 94 million passengers in FY25 and successfully completed the initial test flight at the newly constructed Navi Mumbai Airport, scheduled to commence operations this year with an initial capacity to accommodate 20 million passengers.Adani’s group has established large-scale renewable energy-powered data centre facilities across various states. Additionally, Adani Total Gas provides services to 1 million piped natural gas customers and operates 3,400 EV charging stations throughout 22 states.“But perhaps our most transformative project is unfolding in Dharavi — Asia’s largest slum, now being reimagined as India’s most ambitious urban rehabilitation project,” he said. “Over 1 million people will move from narrow lanes to a township that will feature spacious layouts, dual toilets, open spaces, schools, hospitals, transit hubs and parks.”He emphasised that a country’s future is determined not by policy documents but by the entrepreneurial risks taken by its business leaders.“And history should remember us — not for the size of our balance sheet, but for the strength of our backbone. Not for the markets we entered, but for the storms we handled and emerged stronger. For it is easy to lead in sunshine, but true leadership is forged in the face of crisis,” he added.
