Gautam Adani Says Ended 2023 In Position Of 'Unprecedented Strength' Despite Challenges

The Adani portfolio companies experienced a remarkable surge in operating income, reaching over Rs 43,000 crore.

In a recent video message to the employees of his conglomerate, billionaire Gautam Adani shared insights into what he described as a year of "extraordinary contrasts" for the group. He said that the group overcame attacks by an international short seller and various groups opposed to Adani interests. He said that the conglomerate emerged from this tumultuous period in a "position of unprecedented strength."

"About 12 months ago, our resilience was tested by an attack from an international short seller. This was further complicated as various groups with opposing interests to Adani leveraged the short seller's claim for their own objectives, aiming to harm our reputation by raising concerns about governance practices not just for our group but at the national level," Adani said in his message.

Despite the adversity, Adani emphasised that the conglomerate's integrity and governance were thoroughly validated by a Supreme Court-appointed committee. The committee's report found no regulatory failure in the Hindenburg-Adani matter, underscoring the unsubstantiated nature of the allegations against the group. Adani highlighted that this experience only served to highlight the power of truth in their favor.