Gautam Adani Says 'Storms That Tested Us Fueled Our Strength'
'The road ahead is paved with extraordinary possibilities, and I can promise you that the Adani Group today is stronger than it has ever been,' Adani said in the annual report.
Billionaire chairman Gautam Adani sees extraordinary possibilities for the Adani Group, with the best yet to come following the group's stellar comeback after the two-pronged attack by US short-seller Hindenburg.
The challenges the group overcame last year have strengthened its resolve, and they draw inspiration from the very resilience that India embodies, Adani said in the annual report. "The road ahead is paved with extraordinary possibilities, and I can promise you that the Adani Group today is stronger than it has ever been."
A two-pronged attack by the US-based short-seller, Hindenburg Research, targeted the group on the financial and political fronts, which led to a multi-dimensional crisis, Adani said.
But the Supreme Court's clean chit to the group shows the commitment to operational excellence and transparent disclosures, which was validated not only by rating agencies but also by global investors, Adani said. "The storms that tested us became the very ones that fueled our strength."
The road ahead is paved with extraordinary possibilities, and the chairman promised that the Adani Group today is stronger than it has ever been.
"This isn’t just about building businesses; it’s about building a nation. Hum Karke Dikhayenge! The best is yet to come."
Adani Enterprises Ltd., the flagship company of billionaire Gautam Adani, recouped all losses that were triggered by the short-seller Hindenburg Research's allegations. Besides Adani Enterprises, five of the 10 listed Adani Group stocks have seen the levels they were before the Hindenburg report.
Adani Group's Financial Performance At Record
The Adani Group's Ebitda surged 45% to a lifetime high of Rs 82,917 crore, causing profit to jump 70.8% to a record high of Rs 40,129 crore.
The operational performance resulted in all-time-high levels of liquidity for the group, with a cash balance of Rs 59,791 crore, Adani said.
These consistent and improved metrics led to a series of rating and outlook upgrades, where their portfolio companies—Ambuja Cements Ltd, ACC Ltd., Adani Ports and Special Economic Zone Ltd., are now 'AAA' rated.
"Overall, our record-breaking performance and strategic achievements across diverse sectors showcase our commitment to innovation and sustainable growth."
