Gautam Adani, chairman of the Adani Group, on Tuesday addressed shareholders at the company’s Annual General Meeting (AGM), reaffirming the group’s commitment to nation-building, while firmly stating that no one from the Adani Group has been charged under the U.S. Foreign Corrupt Practices Act (FCPA).
Responding to past allegations involving Adani Green Energy, Adani clarified, “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.”
The chairman also highlighted that the Adani Defence played a crucial role in Operation Sindoor, providing drones and anti-drone systems that supported Indian armed forces and protected civilian infrastructure.
“Our drones became the eyes in the skies as well as the swords of attack,” Adani said, reiterating the group’s philosophy of operating “where India needs us the most.”
During his address, Adani shared key financial milestones achieved by the group in FY25. Consolidated revenues grew by 7% to ₹2,71,664 crore, while adjusted EBITDA rose 8.2% to ₹89,806 crore. The Group’s Net Debt-to-EBITDA ratio stood at 2.6x, which Adani described as a “healthy” indicator of financial strength.
Looking ahead, the group plans to invest between $15 billion and $20 billion annually over the next five years, marking one of the largest capital expenditure (CAPEX) programs in India’s private sector.
“These are not just investments in our group, but investments in the possibilities for doing our part to build India’s infrastructure,” Adani said.
Adani Power, the group’s power generation arm, crossed a record 100 billion units of electricity generation, a feat never before achieved by any private player in India. The company is now on track to scale up its capacity to 31 GW by 2030.
On the renewable front, Adani Green Energy is constructing what will become the world’s largest renewable energy park at Khavda in Gujarat. The Group has set a target of 50 GW of green energy capacity by 2030. Combining thermal, renewable, and pump hydro power, the group aims for a total installed capacity of 100 GW by the end of the decade.
He also highlighted the Dharavi redevelopment project, calling it India’s most ambitious urban rehabilitation initiative. The project aims to transform Asia’s largest slum into a modern township featuring dual-toilet homes, schools, hospitals, parks, and transit hubs. Over one million people are expected to benefit from the transformation, alongside social upliftment programs focusing on skilling, employment, and healthcare.
Commenting on global uncertainties, Adani noted that while conflict and economic volatility affected regions such as the Middle East, Europe, and the U.S., India emerged as a standout performer — and the Adani Group grew alongside it.
Using a metaphor for investors, he remarked, “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.”