- Chairman Gautam Adani calls verdict a validation of transparency, resilience and India’s global ambition
NE BUSINESS BUREAU
AHMEDABAD, SEPT 25
Adani Group Chairman Gautam Adani has declared that the Securities and Exchange Board of India’s (SEBI) recent dismissal of allegations against the Group marks a “powerful validation” of its governance and purpose, turning what was once a global crisis into an inflection point of strength.
In a letter to shareholders on Tuesday, Adani recalled January 24, 2023 — the day the Hindenburg report shook Indian markets — as a moment when “the very audacity of Indian enterprises to dream on a global scale” was questioned. “What was meant to weaken us has instead strengthened the very core of our foundations,” he wrote, adding that the verdict affirms the Group’s long-standing belief: “सत्यमेव जयते — truth alone will prevail.”
Performance amid turbulence
Despite turbulence in capital markets, Adani Group posted robust growth in the past two years:
- EBITDA surged from ₹57,205 crore in FY23 to ₹89,806 crore in FY25, a jump of 57% with a two-year CAGR of 25%.
- Gross Block expanded from ₹4,12,318 crore in FY23 to ₹6,09,133 crore in FY25 — an addition of nearly ₹2 lakh crore.
Adani highlighted that the truest evidence of resilience lies “not in words, but in performance.”
Transformative projects delivered
During this period, the Group also commissioned several landmark projects that have reshaped India’s infrastructure and global standing:
- India’s first container transshipment port at Vizhinjam and the Colombo West International Terminal.
- 6 GW of renewable capacity, including Khavda — the world’s largest single-location renewable project.
- The world’s largest copper smelter and metallurgical complex.
- 7,000 circuit kms of transmission lines and 4 GW of new thermal capacity across India and overseas.
“These milestones prove that adversity did not slow us down — it sharpened our ambition,” Adani noted.
Commitment to thef
Looking ahead, Adani pledged to:
- Strengthen governance standards that inspire global confidence.
- Accelerate innovation and sustainability, setting benchmarks for India and the world.
- Double down on nation-building by investing in infrastructure for long-term growth.
Expressing gratitude to shareholders, lenders and partners who stood by the Group, Adani said: “It was your trust that steadied us, your patience that sustained us and your belief that emboldened us.”
He closed with the timeless words of poet Sohan Lal Dwivedi: “The boat that fears the waves can never reach the shore, but those who keep on trying will win forevermore.”
