"No one from group has been charged by US Department of Justice", says Gautam Adani

India Gazette

7 hours ago

Ahmedabad (Gujarat) [India], June 24 (ANI): Gautam Adani, Chairman of the Adani Group, has reiterated that no one from Adani group has been charged with Foreign Corrupt Practices (FSCP), by the US Department of Justice while addressing the Annual General Meeting (AGM) of the Adani Group on Tuesday.
Guatam Adani said, 'We were charged with allegations last year from the US Department of Justice and ACC relating to Adani Green Energy... No one from the Adani group has been charged with violating the FCPA or conspiring to obstruct justice...'
Speaking about the group's performance, Adani emphasised that even in a year of turbulence, the group saw record-breaking revenue, unprecedented growth and historic profitability, but cautioned the shareholders on investments in stock markets.
'In terms of consolidated numbers, at the Group level, revenues grew by 7%, EBITDA by 8.2%, and our Net Debt-to-EBITDA ratio remained healthy at a 2.6x. Total revenues were Rs 2,71,664 crore, and our adjusted EBITDA was Rs 89,806 crore. And, as I have stated in the past, our objective is not just to build businesses - it is to create new possibilities; not just to serve markets, but to serve our nation's destiny; not to chase valuation but build valuations - brick by brick. And in this context, our capital investment across businesses is set to break all records. We anticipate an annual CAPEX spend of 15-20 billion dollars for the next 5 years. These are not just investments in our Group, but investments in the possibilities for doing our part to build India's infrastructure.'
'The stock market is like an ocean--you can take as much as you can digest. But if you go beyond your capacity, it can drown you. Opportunities are plenty; choose only what suits your financial health, risk appetite, and understanding. The world has changed dramatically over the past 12 months. In the Middle East, war continued to cast shadows on energy and logistics. In Europe, economic confidence stumbled, United States had its challenges. But in the middle of all this, India stood apart and grew faster than any other major nation. Adani too grew with the nation. In FY25, our numbers were strong across all our sectors. We did more than just scale. We created impact-inspired change and, most importantly, depend on our national commitment,' Adani added.
Gautam Adani said that Adani Power had crossed 100 billion units of generation, a scale never before matched by any private sector company. it is now well on track to reach 31 GW Capacity by 2030.
Talking about renewable energy, Gautam Adani mentioned, 'Adani Green is building the world's largest renewable energy park right here in India and is visible even from space. From Khavda to the world, our target of 50 GW by 2030 is the proof that scale and sustainability can co-exist.'
He added, 'In fact, when we combine our thermal, renewable and pump hydro generation capabilities, we expect to have 100 GW of capacity by 2030.'
Targeting the country's green goals, Adani stated, 'Adani New Industries is building electrolysers and solar modules at a global scale, aligning 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.'
Highlighting the role played by Adani Defence during India's successful Operation Sindoor, Gautam Adani said the group operated where India needed it the most.
'When it comes to Adani Defence, Operation Sindoor called, and we delivered. 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. As I have always believed, we don't operate in safe zones. We operate where it matters - where India needs us the most,' he said.
Gautam Adani also spoke on the Dharavi project, calling it India's most ambitious urban rehabilitation project.
'... Our most transformative project is unfolding in Dharavi, Asia's largest slum, now being reimagined as India's most ambitious urban rehabilitation project. Our Dharavi Social Mission is uplifting youth through skilling, healthcare and employment programs. And over 1 million people will move from narrow lanes to a township that will feature spacious layouts, dual toilets, open spaces, schools, hospitals, transit hubs and parks,' he said.
Adani noted, 'We are a proof of a group that dares to dream beyond constraints and powered by a nation that breathes possibility into every tomorrow ahead of us.'(ANI)