Gautam Adani, chairman of Adani Group, Tuesday addressed the Annual General Meeting (AGM) of Adani Enterprises Ltd. He exuded his confidence in the country’s growth story, emphasising that the group’s success is aligned with India’s growth story.



In his speech, Gautam Adani said, “Adani Group is the largest FMCG company in the country. We are the second-largest cement manufacturer in India. In addition, we have also made entries in sectors ranging from data centres, digital super apps, defence and aerospace, metals, and materials, all aligned with the government's vision of Atmanirbhar Bharat.”


He added: "In one stroke, we (Adani Group) became the largest airport operator in India. Around these airports that we operate, we engaged in the adjacent businesses of developing policies and localised communities."


Adani said his company "never slowed or walked away from investments in India", highlighting that they are spending $70 billion in new energy business.


He also spoke of combined group market capitalisation and of 'Aatmanirbhar Bharat', adding: "We laid foundation to seek broader expansion outside India."


He noted that the Adani Group is leading the race to turn India from a country that is over reliant on import of oil and gas to a nation that one day may become a net exporter of clean energy.


In his statement, Adani pointed out, “While we've been lectured on climate change, we've been one of the very few countries that accelerated its renewable energy footprint despite Covid-19 and energy crisis. We've done so at a time when several developed nations paused their pursuit of renewable energy goals.”


He said, "Our rising market capitalisation has been supported by a robust and sustained growth in our cash flows. Our focus on operational excellence across our portfolio and the accretive capacity addition delivered an EBITDA growth of 26 per cent. Portfolio EBITDA stood at INR 42,623 crores. This diversified growth in FY22 was reflected across our range of businesses. Our utility portfolio grew by 26 per cent, our transport and logistics portfolio grew by 19 per cent, our FMCG portfolio grew by 34 per cent, and Adani Enterprises Limited, our incubator business, grew by 45 per cent."


He added: "AEL’s unique business model has no parallel and we intend to leverage this further. The high growth of AEL provides the Group with a reliable foundation for the continued development of new businesses for yet another big decade." 


In the final leg of his address, Adani said the year 2022 represents the 100th birth anniversary of his father Shantilal Adani, and also his 60th birthday. "To mark this milestone, the Adani family came together and decided to contribute Rs 60,000 crores towards charitable activities related to healthcare, education, and skill development, focussing especially on rural India," he said.


Adani Group is constituted of seven publicly listed entities with a combined market capitalisation in excess of $201.01 billion with businesses spanning across energy, ports & logistics, mining & resources, gas, defence & aerospace and airports sectors.


The Ahmedabad-headquartered Adani Enterprises Ltd is an Indian multinational publicly-listed holding company and a part of the Adani Group.