Adani AGM 2024: Gautam Adani's Remarks On Individual Companies

The Adani Group fought back headwinds that sought to cripple the conglomerate, which ultimately made it "stronger than ever", according to Chairman Gautam Adani. The headwinds that tested the ports-to-power conglomerate became the ones that made it even stronger, Adani said during the 32nd annual general meeting of the group's flagship company.

"I am proud to say that our record-breaking achievements in 2023 underscore our alignment to national priorities, as well as our ability to execute the most complex, large-scale projects with unmatched expertise."

The two-sided attack—criticism of the group's financial standing and an information distortion campaign—dragged the group into a political battlefield, he said.

"The possibilities before us are immense. We are stronger than ever. And our best is yet to come," the billionaire said.

Here's what Gautam Adani said about the performance of individual companies in his address to the shareholders.

• The groups' incubation engine had a fantastic year, according to Adani.

• Passenger traffic at their airports witnessed strong double-digit growth and came in at 88.6 million.

• Prime Minister inaugurated the state-of-the-art Terminal 3 at Lucknow International Airport.

• Kutch Copper Ltd., commenced operations at its greenfield copper refinery. By the end of this decade, the company aims to make it the world’s largest single-location, Adani said.

• Experienced an exceptional year, exceeding 400 million metric tonnes of cargo and handling a record 420 MMT, Adani said.

• Ten of their ports recorded lifetime high cargo volumes.

• Acquired Gopalpur and Karaikal ports, to consolidate their position as India’s premier ports and logistics company.

• The company revised its financial year 2030 target from 45 gigawatt to 50 GW.

• It added 2.8 GW, 15% of India’s total renewable capacity addition, during the year.

• The commissioning of the first 2 GW at the world’s largest renewable energy plant in Khavda within 12 months of breaking ground set a new record.

• The operating capacity increased by 12% to 15,250 MW, with the commissioning of the 1,600 MW trans-national ultra-supercritical thermal power plant at Godda.

• This makes it the first power plant in India to export all its power to a neighbouring nation, the chairman said.

• Continued to commission the much-needed critical transmission infrastructure, including two 765 kV lines.

• Transmission order book stands at Rs 17,000 crore, and the smart metering order book has expanded to 228 lakh units.

• Expanded their CNG stations to cross 900 stations, and PNG connections rose from 8.45 lakh to 9.76 lakh connections.

• The company commissioned its 606 EV charging points as well as the first phase of one of India’s largest biomass plants in Barsana.

• Adani Group’s combined cement capacity has risen from 67.5 MTPA to 79 MTPA, the chairman said.

• Ebitda per tonne has more than doubled since the acquisition.

• The company is well on the path towards our target of 140 MTPA by 2028.

• Ambuja Cements was the lead supplier for India’s longest sea bridge – the 21.8-km-long Mumbai Trans Harbour Link.

• Expanded its presence regionally and scaled digitally, with a 39% increase in global digital traffic.

• Invested in cutting edge next-generation digital infrastructure, and added new facilities in BKC, Mumbai, and NCR, Delhi.

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