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3h ago

Adani Hails SEBI Verdict in Shareholder Letter, Pledges Governance Push

Adani casts the regulator’s ruling as vindication, outlining performance gains with governance pledges.

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Mark Mobius
Adani says SEBI ruling vindicates group, signals resilience in post-Hindenburg era

Overview

  • SEBI orders last week said key Hindenburg accusations were not established and the cited dealings did not qualify as related-party transactions.
  • In the letter, Gautam Adani reports portfolio EBITDA at ₹89,806 crore in FY25 from ₹57,205 crore in FY23 and a 48% rise in gross block to ₹6,09,133 crore.
  • He highlights new assets including the Vizhinjam transshipment port, Colombo West terminal, 6 GW of renewables led by Khavda, a large copper smelter complex, 7,000 circuit km of transmission lines and 4 GW of thermal capacity.
  • Adani says the group will strengthen governance standards, accelerate innovation and sustainability, and increase infrastructure investment to support long-term growth.
  • Adani stocks jumped by nearly $20 billion in value over two sessions after the SEBI decision, even as media reports say a few technical issues such as public shareholding questions remain under review.