Despite challenges, 2023 ended with 'unprecedented strength': Gautam Adani

Adani Group Chairman Gautam Adani, in a recent video message to his group's employees, described the past year as one of "extraordinary contrasts" for the group. He said the group has overcome attacks from an international short seller and various groups opposed to Adani interests. He said the group had emerged from this turbulent period with "unprecedented strength".

Gautam Adani said in his message, “About 12 months ago, our resilience was tested by an attack by an international short seller. This period was made all the more difficult because various groups with interests conflicting with those of the Adani Group launched their own The purpose was to damage our reputation by raising concerns and trying to damage the governance practices of the country, which was detrimental not only to our group but also to the national level also applies."

Despite the adverse circumstances, Adani Group insisted on full cooperation with the committee appointed by the Supreme Court. The committee's report found no regulatory failures in the Hindenburg-Adani case, underscoring the baseless nature of the allegations against the group. Gautam Adani highlighted that this experience served to highlight the power of truth in his favour

Gautam Adani stressed, “While we need to take into account the lessons learned during difficult times to avoid such challenges in the future, there is no doubt that our Group's response to the short seller attack was exceptional.” "We not only bounced back, but also recorded record-breaking results, ending our most challenging year in a position of unprecedented strength."

Adani portfolio companies experienced significant growth in operating income reaching over ₹ 43,000 crore, a record-breaking 47% growth over H1FY24. Looking to the future, Adani Group has ambitious plans to invest a massive $100 billion over the next decade, focusing on clean energy. The support of major institutional investors, including GQG Partners, has undoubtedly contributed to the uptick in sentiment.

The Chairman of Adani Group proudly shared, “Our financial health is now stronger than ever in our 30-year history and is supported by international finance from GQG Partners from the US, Central International Holding Company, Total Energy from Europe, and the US Government. The growth is marked by the expansion of our investor base with prestigious global institutions such as the Corporation." He said, "This is a clear confirmation of the trust and confidence that investors have in the Adani brand."