‘We never backed down’: Gautam Adani says ‘Adani Group has become more unbreakable & resilient’ amid challenges, scrutiny
NEW DELHI: Gautam Adani, Asia’s second-richest person, said the Adani Group stayed strong and adapted its strategy despite facing a series of acquisitions and intense scrutiny, becoming stronger and more resilient.“In the face of fierce headwinds and relentless scrutiny – we have never retreated. Instead – we have recalibrated. We have reimagined. And we have become – more formidable, more unbreakable, more stronger and more resilient!” Adani said in the recent annual report of Adani Enterprises.He also announced that the conglomerate plans to invest $15–20 billion over the next five years across its businesses, backed by a strong balance sheet and steady growth.Adani noted that people often ask him “How does Adani Group keep doing it? How do we rise, time and again?”“My answer remains the same: Our conviction is anchored in clarity. Our objectives are aligned with India’s ambitions. And our strength comes from the belief that you – our shareholders – place in us,” he said.In January 2023, a report by US short-seller Hindenburg Research accused the Adani group of being “the largest con in corporate history,” causing stock prices to crash and wiping out over $150 billion in market value. The group’s largest public offering was also called off.Adani Group reduced debt, cut back on pledged promoter shares, attracted new investments, and refocused on its core businesses.Just as it began to recover, the group faced fresh allegations from US authorities, accusing it of bribery to win Indian power contracts and misleading investors, during fund raises.Adani Group denied all wrongdoing and said the group had faced challenges before and would face them again. Despite the setbacks, most Adani stocks have rebounded, and the group has reported record earnings.Regarding the US Department of Justice and SEC allegations concerning Adani Green Energy, he asserted that this wasn’t their first challenge.“Nor will it be the last,” he continued.“Every challenge sharpens our resolve. Every setback becomes a stepping stone,” he stated, emphasising that no member of Adani Group faces charges of violating Foreign Corrupt Practices Act (FCPA) or conspiring to obstruct justice.“We live in a world where negativity often echoes louder than truth. But as we cooperate with legal processes, let me also restate – emphatically – our governance is of global standards, and our compliance frameworks are robust and non-negotiable,” Adani further added.The conglomerate’s diverse portfolio spanning ports, airports, renewable energy, data centres, defence manufacturing, and city gas distribution has demonstrated substantial expansion in recent years.“History should remember us not for the size of our balance sheet, but for the strength of our backbone. Not just 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 said.Adani also highlighted record profits across the group’s ports-to-energy businesses for the financial year 2024–25. He further said that the Adani Airports handled a record 94 million passengers, and the Navi Mumbai Airport is set to open later this year with an initial capacity of 20 million passengers, eventually expanding to 90 million.Adani Defence is developing ammunition and missile systems in Kanpur, and its surveillance and Kamikaze drones played a role in the recent Operation Sindoor, he added.
