Reflecting on the transformational changes in the world over the past year, billionaire Gautam Adani, chairman of the Adani Group, expressed complete faith in India’s economic stability, saying “it grew faster than any other nation”.
“Over 60 nations went to the polls. Borders were redrawn, alliances tested, and economies shaken. In the Middle East, war continued to cast shadows on energy and logistics. In Europe, economic confidence stumbled. The United States had its own challenges. And yet, in the middle of all this noise, India stood apart and grew faster than any other major nation,” Adani said.
Ahead of the Adani Group's annual general meeting (AGM), all the shares of the group traded in green in anticipation of its future plans and key investments' announcement.
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With the Iran-Israel war refusing to lose steam, Adani Ports have been a cause of concern for the group, holding 70 per cent stakes in Israel’s Haifa Port, and being in close proximity to the oil refinery nearby that was hit by Iranian ballistic missiles on June 14. Adani Ports had acquired the stake in Haifa Port in 2023 for $1.2 billion, in partnership with Israel’s Gadot Group. The ports contribute almost 3 per cent to Adani Ports’ annual cargo volume.
However, despite the geopolitical headwinds, Adani reaffirmed his group’s resilience and efforts to “dare to dream beyond constraints”.
His conglomerate has been caught in a storm of accusations of bribery levelled by the US authorities for allegedly paying millions to secure Indian power supply contracts while misrepresenting anti-bribery compliance during a $750 million Adani Green Energy bond offering.
Adani and his nephew, Sagar Adani, were summoned by the US Securities and Exchange Commission last year, which also requested assistance in investigation from the Indian Ministry of Law and Justice over an alleged securities fraud and another $265 million bribery scheme.
Denying any wrongdoing at the AGM, Adani said, “No one from the Adani Group has been charged with violating the FCPA or conspiring to obstruct justice”.
Crediting the Indian government, both at the Centre and across the states for scripting India’s growth story, Adani said the government had laid down “the foundation for a truly historic transformation – a transformation not of a few, but for an entire nation whose best chapters are just beginning.”
India’s growth story, he asserted, is not a coincidence.
Financially, the Adani Group recorded ₹2.71 lakh crore in revenue and ₹89,806 crore in adjusted EBITDA. A healthy net debt-to-EBITDA ratio of 2.6x was maintained, the group revealed in the AGM, even as annual CAPEX is projected to touch USD 15-20 billion over the next five years.
With focus on renewable energy, Adani Power has crossed 100 billion units of energy generation while Adani Green is building the world’s largest renewable energy park in India, the company statement said.
It was also revealed that Adani Airports, which handled a record 94 million passengers in FY25, has completed the first test flight at the greenfield Navi Mumbai Airport that is slated to open later this year with an initial passenger capacity of 20 million. Adani said their aim is to make it a 90 million-passenger airport, giving them a 35 per cent share of India’s airport passenger traffic.
The group also plans to convert Dharavi – Asia’s largest slum – to "India’s most ambitious urban rehabilitation project”. Over 1 million people will move from narrow lanes to a township, said the chairman.
Adani said his group also delivered in Operation Sindoor, as they felt “called”.
Saying they played a frontline role in India’s attack against Pakistan’s terror infrastructure after the deadly Pahalgam attack that killed 26 people in Kashmir, the drone and anti-drone systems produced by Adani Defence conducted precision strikes while its counter-drone units protected Indian assets from retaliatory threats.
“Our drones became the eyes in the skies as well as the swords of attack, and our anti-drone systems helped protect our forces and citizens,” he said.
Developed in partnership with Alpha Design Technologies (26 per cent owned by Adani Defence) and Israel's Elbit Systems, the SkyStriker loitering munition or kamikaze drones can carry 5-10 kg warheads, fly silently at low altitudes up to 100 km, and precisely strike targets.
Saluting the country’s armed forces, Adani said, “This year, during Operation Sindoor, our brave men and women in uniform stood tall. Not for fame, not for medals – but for duty.”
"India understands the value of peace, but if someone dares to threaten it, India also knows how to respond in their own language," he added.
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