Gautam Adani, Chairman of the Adani Group, that has been caught up in regulatory scrutiny since US short-seller Hindenburg Research’s scathing report in 2023, said that true leadership is created in the fire of crisis. The industrialist said that the conglomerate plans to invest $15-20 billion across its businesses.
Addressing the group’s annual general meeting virtually, Adani spoke of the recent indictment by the US authorities in an alleged bribery scheme. The group has been accused of indulging in bribery to win a lucrative renewable energy supply contract. The group has been charged with violating US Foreign Corrupt Practices Act (FCPA) or conspiring 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…This was tested again last year, when we faced allegations from the US Department of Justice and the SEC relating to Adani Green Energy,” he said, adding that no one from the Adani Group has been charged with violating the FCPA.
“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,” he said.
The group plans to invest a record $15-20 billion across businesses over the next five years. Adani also spoke of the company’s robust business and strong balance sheet as an indication of the company’s credibility.
“In terms of consolidated numbers, at the group-level, revenues grew by 7 per cent, EBITDA by 8.2 per cent, and our net debt-to-EBITDA ratio remained healthy at 2.6x. Total revenues were Rs 2,71,664 crore and our adjusted EBITDA was Rs 89,806 crore,” he said.
Adani said his conglomerate aims not just to build businesses but to create new possibilities. Adani highlighted the group’s electricity generation unit, Adani Power, which has crossed 100 billion units of generation and is on track to reach 31 GW capacity by 2030. The renewable energy arm, Adani Green, is constructing the world’s largest renewable energy park at Khavda in Gujarat, targeting 50 GW by 2030.
Combining thermal, renewable, and pumped hydro capacities, the group expects to achieve 100 GW capacity by 2030. The electricity transmission unit, Adani Energy Solutions, secured nearly Rs 44,000 crore in transmission orders and is executing Rs 13,600 crore worth of smart metering projects.
Adani New Industries, the clean energy vertical, is building electrolysers and factories to produce 10 GW of solar modules by the next financial year. Adani Ports handled a record 450 million tonnes of cargo, while natural resources production reached 47 million tonnes of coal and iron ore, aiming for over 30 per cent growth by FY26.
Regarding cement, after acquiring Holcim’s India business two and a half years ago, the group committed to doubling capacity to 140 million tonnes per annum by FY27-28. Currently, 72 per cent of this target is achieved, crossing 100 million tonnes.
Adani Airports handled a record 94 million passengers in FY25 and completed the first test flight at the greenfield Navi Mumbai Airport, which is set to open later this year with an initial capacity of 20 million passengers.
The group has launched gigawatt-scale renewable energy-powered data centre campuses across several states. Adani Total Gas now serves 1 million piped natural gas customers and operates 3,400 EV charging stations across 22 states.
One of the most transformative projects is in Dharavi, Asia’s largest slum, being redeveloped into an ambitious urban rehabilitation project. Over 1 million people will move to a township featuring spacious layouts, dual toilets, open spaces, schools, hospitals, transit hubs, and parks.
Adani stated that a nation’s future depends on the risks entrepreneurs take, not just policy documents. He added that history should remember them not for the size of their balance sheet but for their resilience and leadership in crises.
