New Delhi : Adani Group began its annual week on Monday where all the listed group companies will have their Annual General Meetings lined up back-to-back. The week commenced with a keynote address from Gautam Adani, Chairman of Adani Group, speaking to its 6.7 million shareholders globally.
Adani highlighted three pivotal themes in his address—the group’s resilience in overcoming external challenges, India’s ascent on the global stage, and the future opportunities for the conglomerate and its extensive shareholder base across 11 listed companies.
Adani underscored the value of perseverance instilled by his mother when he said, “The true measure of our success is less about our achievements and more in our ability to stand firm in the face of adversity. In my case, I picked my lessons from my mother. Growing up in the harsh deserts of Banaskantha, what I learnt from her is that true strength lies in perseverance.”
“It is this perseverance that has allowed us to become one of the most admired companies in the country. And our perseverance was never more evident than that we demonstrated this past year. In the face of unprecedented attacks on our integrity, we proved our resilience.” he remarked, attributing the group’s recovery to its core value of courage, trust and commitment.
Highlighting India’s growing influence globally and its pivotal role addressing climate change, Adani asserted, “The world is witnessing the rise of India. This is India’s moment. We are now the force for stability, cooperation and progress in a complex world. And it is India’s macroeconomic stability and ambitious growth plans that inspire our confidence,”
With India targeted to become a $10 trillion economy by FY32, the spend on infrastructure is expected to grow at a CAGR of 20-25% and reach a cumulative spend of $2.5 trillion. “Given that, at the very core, we are an infrastructure company, we are well positioned to capitalize on the upcoming opportunities,” he said.
Adani Group remains the largest private infrastructure developer with its extensive portfolio spanning power, ports, road, airports, data centers, defense, manufacturing, logistics, a material. “Our ability to conceptualize and then handle complexity and execute very large projects in difficult conditions is an unmatched competency that we continue to get better at,” he said. The group’s various ultra-scale projects included world’s largest renewable park at Khavda, Gujarat and real estate project at Dharavi, Mumbai.
In FY24, the group delivered a record performance registering a $ 10 billion EBITDA (Earnings before interest tax and depreciation) milestone with a 45% growth year-on-year. Its net profit grew by 70%. The group holds cash of more than $ 7 billion and the group-level debt is down to 2.2x, much lower than infrastructure industry standards of 3.5-4.5x.
“With our record results, robust cash positions and the lowest debt ratios in our history, our path ahead is illuminated with the promise of even greater accomplishments. The possibilities before us are immense. We are Stronger Than Ever. And our best is yet to come,” he concluded.