In Short
- Adani Enterprises AGM began at 10:30 a.m., followed by Adani Ports at 12:30 p.m.
- Chairman Gautam Adani honoured the armed forces and remembered Air India crash
- Adani shares rose ahead of AGM; key announcements expected
The AGM for Adani Enterprises kicked off at 10:30 a.m., with Adani Ports set to follow at 12:30 p.m. Chairman Gautam Adani began the meeting by saluting the Indian armed forces for Operation Sindoor and also remembered the recent Air India plane crash.
Adani Group Chairman Gautam Adani said the group’s capital investments are poised to break records, with plans to spend $15–20 billion capex annually over the next five years, not just for business growth, but to contribute to India’s infrastructure development.
During the AGM, Gautam Adani also addressed the bribery allegations brought by U.S. authorities, stating that no one from the group has been charged with violating the Foreign Corrupt Practices Act (FCPA) or obstructing justice in connection with the bribery allegations by U.S. authorities and the SEC.
Referring to the scrutiny around Adani Green Energy, Adani said the group stood firm despite pressure. His remarks come after the US SEC summoned him and his nephew Sagar Adani over alleged bribery and misleading investors during a $750 million bond issuance.
Ahead of its AGM, Adani Airports Holdings Limited (AAHL) on Tuesday confirmed securing $1 billion in project finance for Mumbai International Airport Ltd (MIAL), which operates the Chhatrapati Shivaji Maharaj International Airport (CSMIA).
For the quarter ending March 2025, Adani Enterprises posted a 752% year-on-year (YoY) jump in profit to Rs 3,845 crore, up from Rs 451 crore last year. The rise was mainly due to an exceptional gain of Rs 3,286 crore. However, revenue from operations dipped 8% YoY to Rs 26,966 crore.
Shares of all Adani Group companies traded in the green ahead of the AGM.
Key announcements and the group’s future plans are likely to be shared during the AGMs.
