Adani Group

For other uses or companies named Adani, see Adani (disambiguation).

Adani Group
Company typeCorporate group
IndustryConglomerate
Founded20 July 1988; 36 years ago (20 July 1988)
FounderGautam Adani
Headquarters
Ahmedabad, Gujarat
,
India
Area served
Worldwide
Key people
Gautam Adani (Chairman)
Services
RevenueIncrease ₹3.09 lakh crore (US$37 billion)[2] (2024)
Increase ₹41,263 crore (US$4.9 billion)[2] (2024)
Number of employees
~36,000 (2024)[1]
Subsidiaries
Websiteadani.com
Footnotes / references
[3][4][5][6][7][8][9][10][11]

Adani Group is an Indian multinational conglomerate, headquartered in Ahmedabad. Founded by Gautam Adani in 1988 as a commodity trading business, the Group's businesses include sea and airport management, electricity generation and transmission, mining, natural gas, food, weapons, and infrastructure.[12] It is particularly active in metal commodity exchange. More than 60% of its revenue is derived from coal-related businesses.[13]

Noted for its close association with the ruling Bharatiya Janata Party,[14][15] Adani was the largest Indian conglomerate as of 2022 with a US$206 billion market capitalization, surpassing Tata Group.[16] It lost more than $104 billion in value after fraud and market manipulation allegations by short-seller firm Hindenburg Research.[17][18] In May 2024, the Adani Group's market capitalization returned to over $200 billion after the Supreme Court directed the Securities and Exchange Board of India (SEBI) to expedite its investigation.[19]

The Adani Group has also attracted other controversies due to reports suggesting stock manipulation, accounting irregularities, exporting military drones to Israel for its war in Gaza, political corruption, cronyism, tax evasion, environmental damage, and suing journalists.[20][21][22][23][excessive citations]

  1. ^ a b "About us | Growth with Goodness". Archived from the original on 23 June 2022. Retrieved 13 December 2020.
  2. ^ a b Tyagi, Prince (28 May 2024). "How has Adani Group performed in 5 years?". Business Today. Archived from the original on 29 May 2024. Retrieved 31 May 2024. Data available from ACE Equity showed that the Adani Group has posted a record Rs 42,396 crore profit after tax (PAT) in FY24 from its 10 firms. While the top line for the group stands at Rs 3.09 lakh crore on consolidated basis and it has paid Rs 6,482 crore as taxes in FY24.
  3. ^ "Financials | Adani Enterprises Limited". Adani Enterprises. Archived from the original on 13 April 2023. Retrieved 13 April 2023.
  4. ^ "Financials | Adani Ports and Logistics". Adani Ports & SEZ. Archived from the original on 13 April 2023. Retrieved 13 April 2023.
  5. ^ "Financials | Adani Power". Adani Power. Archived from the original on 13 April 2023. Retrieved 13 April 2023.
  6. ^ "Financials | Adani Transmission". Adani Transmission. Archived from the original on 13 April 2023. Retrieved 13 April 2023.
  7. ^ "Financials | Adani Total Gas". www.adanigas.com. Archived from the original on 13 April 2023. Retrieved 13 April 2023.
  8. ^ "Financials | Adani Wilmar". www.adaniwilmar.com. Archived from the original on 13 April 2023. Retrieved 13 April 2023.
  9. ^ "Financials | Ambuja Cement". Ambuja Cements. Archived from the original on 13 April 2023. Retrieved 13 April 2023.
  10. ^ "Financials | ACC Limited". ACC (company). Archived from the original on 13 April 2023. Retrieved 13 April 2023.
  11. ^ "Financials | NDTV". NDTV. Archived from the original on 13 April 2023. Retrieved 13 April 2023.
  12. ^ "After ADAG, Adani enters defence sector, signs up with Israeli firm". 30 March 2016. Archived from the original on 2 February 2021. Retrieved 25 June 2018.
  13. ^ Cite error: The named reference godda was invoked but never defined (see the help page).
  14. ^ "Modi govt allowed Adani coal deals it knew were 'inappropriate'". Al Jazeera. 1 March 2023. Retrieved 26 October 2024.
  15. ^ Krishnan, Murali (7 February 2023). "India: Is the Adani crisis becoming a liability for Modi? – DW – 02/07/2023". dw.com. Retrieved 26 October 2024.
  16. ^ "Adani beats Tatas to be most valued group". Times of India. 17 September 2022. Archived from the original on 17 September 2022. Retrieved 17 September 2022.
  17. ^ Cite error: The named reference report was invoked but never defined (see the help page).
  18. ^ "Gautam Adani: the Indian billionaire vs the short seller". 10 July 2023. Retrieved 11 July 2023.
  19. ^ "Adani Group mcap rises to Rs 17.5 trn, highest since Hindenburg incident". Business Standard. 24 May 2024. Retrieved 5 July 2024.
  20. ^ Findlay, Stephanie; Lockett, Hudson (13 November 2020). "'Modi's Rockefeller': Gautam Adani and the concentration of power in India". Financial Times. Archived from the original on 24 January 2023. Retrieved 24 January 2023.
  21. ^ Madhok, Diksha (13 November 2020). "Gautam Adani was a college dropout. Now he may be too big to fail". CNN. Archived from the original on 24 January 2023. Retrieved 24 January 2023.
  22. ^ Cite error: The named reference Exclusive: Was Adani’s associate in China involved in violating UN Security Council sanctions against North Korea? was invoked but never defined (see the help page).
  23. ^ Roy, Saumya. "Q&A: 'Chilling': Journalist sued by Adani, cited by Hindenburg". www.aljazeera.com. Retrieved 24 April 2023.