Adani AGM 2025: Gautam Adani flags Middle East war casts a shadow on logistics & energy, speaks on US fraud charges

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Adani on U.S. Department of State & the FCC related allegations
Here are the highlights from Adani AGM 2025:
In terms of consolidated numbers, at the Group level, revenues grew by 7%, EBITDA by 8.2%, and Net Debt-to-EBITDA ratio remained healthy at 2.6x. Total revenues were Rs 2,71,664 crore and the group's adjusted EBITDA was Rs 89,806 crore.
Adani Group anticipates an annual CAPEX spend of $15–20 billion for the next 5 years.
Adani Power crossed 100 billion units of generation. It is now well on track to reach 31 GW capacity by 2030.
Adani Green is building the world's largest renewable energy park in India. From Khavda to the world, the group's target of 50 GW by 2030 is proof that "scale and sustainability can coexist."
Adani New Industries is building electrolyzers and solar modules at global scale, aligned with India's green goals. It is on track to expand its solar module manufacturing lines and will have a 10 GW integrated solar module manufacturing facility in place by the next financial year.
Adani Ports handled a record 450 MMT of cargo
Natural Resources produced a record 47 million tonnes of coal and iron ore and is on track to achieve over 30% growth by FY26.
Adani Airports handled a record 94 million passengers in FY25. The group completed the first test flight at the greenfield Navi Mumbai Airport. This airport will open later this year with an initial passenger capacity of 20 million, of what will then become a 90 million passenger airport, giving us a 35% share of India's airport passenger traffic.
During Operation Sindoor, Adani Defence's 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, said Adani.
Adani Total Gas now serves 1 million PNG customers and runs 3,400 EV charging stations across 22 states.
Dharavi – Asia's largest slum, now being "reimagined as India's most ambitious urban rehabilitation project." Over 1 million people will move from narrow lanes to a township, added Adani.
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In the Middle East, wars continue to cast shadows on energy and logistics, Gautam Adani said at Adani Enterprises ' Annual General Meeting on Tuesday.In Europe, economic confidence has stumbled, and the US has its own challenges, he said, adding that in the midst of all this noise, India stood apart and grew faster than any other major nation.The Middle East tensions, in particular, are believed to be a cause of concern for the Adani group, as at the centre of Adani's presence in Israel is Haifa Port, where Adani Ports holds a 70% stake acquired in 2023 for $1.2 billion in partnership with Israel's Gadot Group. Strategically located in northern Israel, the port contributes around 3% to Adani Ports' annual cargo volume and is critical for Israeli imports and exports.The Economic Times reported on June 14 that Iranian ballistic missiles had targeted Haifa and a nearby oil refinery amid heightened hostilities between the two countries. Shrapnel reportedly hit parts of a chemical terminal and refinery close to the port.However, the Adani Group denied any damage to port operations.During past regional escalations, Adani Ports shares had slipped as dry bulk vessels encountered bottlenecks. Market participants noted that while the financial exposure may be limited, the symbolic and strategic weight of the asset makes it vulnerable to sustained geopolitical tensions.In the most recent development, US President Donald Trump said today that a "complete and total" ceasefire between Israel and Iran will go into force with a view to ending the conflict between the two nations.Adani also spoke on US Department of State and the FCC-related allegations against the group."When we faced allegations from the U.S. Department of State and the FCC related to Adani Green Energy, the facts—despite all the noise—remain that no one from the Adani Group has been charged with violating the FCPA or obstructing justice."Even in a turbulent year, we stand as proof of a group that dares to dream beyond constraints, the Indian billionaire said."We live in a world where negativity often echoes louder than the truth. And as we cooperate with legal processes, let me also restate that our governance is of global standards, and our compliance frameworks are non-negotiable."The comments of the billionaire are based on US authorities indicting Adani and his nephew, Sagar Adani for allegedly paying bribes to secure Indian power supply contracts, and misled U.S. investors during fund raises. The SEC summoned Adani and his nephew, alleging they paid millions in bribes to Indian officials while misrepresenting antibribery compliance during a $750 million Adani Green Energy bond offering.Previously, the US Securities and Exchange Commission had requested assistance from India's Ministry of Law and Justice in its investigation of Gautam Adani and his nephew Sagar Adani over alleged securities fraud and a $265 million bribery scheme, reported Reuters citing a court filing.Last year, federal prosecutors in Brooklyn unsealed an indictment accusing Adani of bribing Indian officials to convince them to buy electricity produced by Adani Green Energy, a subsidiary of his Adani Group conglomerate, and then misleading U.S. investors by providing reassuring information about the company's anti-corruption practices.