New Delhi: Gautam Adani has called markets regulator SEBI's dismissal of allegations against the Adani Group a "powerful validation" of its governance. He said the Adani Group has managed to strengthen its foundations.
The Adani Group Chairman reminded investors of the challenges following the 2023 Hindenburg report, which questioned the group's governance and global ambitions.
"It was not merely a critique of your Adani Group. It was a direct challenge to the audacity of Indian enterprises to dream on a global scale," he wrote.
SEBI, on September 18, gave a clean chit to Adani Group companies, including Adani Enterprises, Adani Ports, and Adani Power, as well as Gautam Adani, dismissing the claims made by Hindenburg Research.
Gautam Adani described SEBI's "resounding and unequivocal verdict" as closure to a two-year period of intense scrutiny. "With SEBI's clear and final word, truth has prevailed or like we had always said - Satyamev Jayate," he said.
Quoting poet Sohan Lal Dwivedi, he added, "The boat that fears the waves can never reach the shore, but those who keep on trying will win forevermore."
Gautam Adani also shared the group's financial and operational performance during this period: Portfolio EBITDA grew from Rs 57,205 crore in FY23 to Rs 89,806 crore in FY25, a 57 per cent absolute increase with a two-year CAGR of 25 per cent.
Gross Block expanded from Rs 4,12,318 crore to Rs 6,09,133 crore, a 48 per cent rise in two years.
"It was your trust that steadied us, your patience that sustained us and your belief that emboldened us," he said, thanking investors, lenders, suppliers, and partners for their support.
Major infrastructure projects commissioned during this period include:
- India's first container transshipment port at Vizhinjam, alongside the Colombo West International Terminal.
- 6 GW of renewable energy capacity, including Khavda, the world's largest single-location renewable project.
- The world's largest copper smelter and metallurgical complex.
- Energy network expansion with 7,000 circuit kms of transmission lines and 4 GW of new thermal capacity across India and overseas.
Moving forward, Gautam Adani promised to improve governance, boost innovation and sustainability, and invest in infrastructure to support India's growth. He said the SEBI verdict should restore confidence and reaffirm the group's values.
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