***Disclosure: Used images available on open internet and from investor PPTs and documents of the company *** A Journey Through Adani Group: Transformations, Challenges, and Future Prospects The Adani Group, a conglomerate with diverse interests, has undergone significant transformations over the years. Let’s delve into the key aspects of their journey: A Journey of Transformation: Explore how the Adani Group evolved from its humble beginnings to a global player. Trace the milestones, strategic decisions, and leadership changes that shaped its trajectory. Adani’s Rapid Growth: Analyze the sectors where Adani made significant strides: energy, infrastructure, logistics, and more. Highlight their expansion into international markets and partnerships. Hindenburg Report: Adani Fallout: Investigate the fallout from the Hindenburg Research report, which raised concerns about Adani’s financial practices. Discuss the impact on investor confidence, stock prices, and corporate governance. Adani Back in Action: Examine how Adani responded to the crisis. Did they address the allegations effectively? What steps did they take to regain trust? Adani - What NEXT?: Peer into the future: What lies ahead for the Adani Group? Consider their diversification plans, sustainability initiatives, and potential challenges.

1. Presentation on
GROUP
By Team

2. =$1,000,000
approximately ₹8.28 crores

3. =$10 Million
approximately ₹83 crores

4. =$100 Million
approximately ₹830 crores

5. =$1 Billion
approximately ₹8300 crores
X 103 =
Gautam Adani,
Chairman of Adani Group

6. Contents :
I. A Journey of Transformation
II. Adani’s Rapid Growth
III. Hindenburg Report: Adani Fallout
IV. Adani Back in Action
V. Adani – What NEXT?

7. A Journey of
Transformation

8. From Humble Beginnings to a Global Business Powerhouse
• 1988: Founded by Gautam Adani as a commodity trading company in Ahmedabad, India, with a mere ₹5 lakh capital.
• Self-made Millionaire by 20: Gautam Adani's exceptional negotiation skills secured a crucial deal, making him a
millionaire at a young age.
• Port Pioneer: The acquisition of Mundra Port in 2006 marked a turning point, propelling Adani into the port sector
and laying the foundation for further diversification.
• From Ports to Powerhouse: Strategic diversification beyond ports saw Adani venturing into sectors like energy,
infrastructure, and FMCG, creating a diverse business empire.
• Sustainability Champion: Adani Group prioritizes sustainability initiatives, aiming to become the world's largest
renewable energy player and implementing green practices across its operations.
• Global Ambitions: Adani's footprint extends beyond India, with operations and investments in various countries,
solidifying its position as a global player.
• Economic Engine: Adani Group employs over 29,000 individuals and contributes significantly to India's GDP, fostering
economic growth and development.

9. 1988
Adani Exports established,
focusing on commodities trading
1995
Acquired a port license, marking the
initial foray into the port sector
2006
Acquisition and development of Mundra
Port, becoming India's largest private port
2010
Entry into the power sector with the
acquisition of Mundra Thermal Power Plant.
2014
Strategic acquisitions and
partnerships propel
TIMELINE

10. 2018
Adani into diverse sectors like
airports, renewables, and FMCG
2020
Adani Green becomes the world's
largest solar power developer
2022
Became Asia's richest person and 3rd
richest person in the world
2023
Adani Group becomes the third
most valuable company in India

11. Adani’s
Business
Empire

13. Adani’s
Rapid Growth

14. • Market Share and Performance: Adani Ports and SCG accounted for 24% of India’s port capacity and had a 95%
market share in the private port market.
• Process of dredging: Adani’s ownership of dredging machines and ports allowed for quick and efficient
operations, bypassing the slow and bureaucratic government processes.
• Integrated Transportation System: Adani’s integrated transportation system provided end-to-end logistics
planning and execution, optimizing efficiency and reducing turnaround time.
• Profit Increase: Adani Ports’ profits had significantly increased from 1700 crores in 2014 to 5300 crores in 2022,
making it a powerful player in the industry.
King of Port Market

15. • Acquisition of Ambuja Cements and ACC
• Backward Integration Strategy
• Demand Generation through Construction Projects
• Growing Infrastructure Projects
• Holcim's Exit and Focus on Green Production
• Risks in the Cement Industry
Adani – The Cement MAFIA

16. • Indonesia's Dominance in Palm Oil
• Versatility of Palm Oil in Various Industries
• Global Impact of Indonesia's Palm Oil Export Ban
• Market Reaction: FMCG Stocks in India
• Market Reaction: Adani Wilmar's Surge
• Beneficiaries of the Export Ban: Edible Oil Refinery Stocks
Palm Oil Crisis

17. Hindenburg Report:
Adani Fallout

18. Founded in
2017 • Chartered Financial Analyst (CFA)
• Chartered Alternative Investment Analyst (CAIA)

20. Allegations:
Key
 Accounting Fraud: Hindenburg alleges that the Adani Group engaged in accounting fraud, manipulating financial
records and misrepresenting information.
 Stock Manipulation: The report claims that the Adani Group was involved in decades of “brazen” stock
manipulation.
 Substantial Debt: According to Hindenburg, the Adani Group’s companies carry “substantial debt”, which puts
the entire group on a "precarious financial footing".
 Offshore Entities: Certain offshore entities holding Adani stock allegedly accounted for a significant portion of
the yearly delivery volume in Adani stocks.

24. If you’re innocent,
why don’t you
answer our
questions?
Your allegations are
baseless!!!
We are going to sue
you.
BRING IT ON!!!

25. GiantDrop
Adani Enterprises
boomed in 2022—onIy
to collapse in 2023
The

26. Adani
Back in Action

27. "Judicial Response to Allegations"
Hindenburg Report Impact:
• Allegations led to a significant financial setback for Adani.
• Hindenburg's report labelled Adani as India's biggest scam, causing a substantial drop in wealth.
SEBI Investigation:
• SEBI took charge of investigating 24 irregularities within Adani's operations.
• As of February 2024, SEBI completed investigations into 22 irregularities, with ongoing assessments.
Judicial Caution:
• Supreme Court's response cautioned against accepting Hindenburg's claims as entirely true.
• Emphasized trust in regulatory agencies like SEBI, highlighting their expertise in overseeing such investigations.
Regulatory Trust:
• Supreme Court emphasized SEBI's role as a regulatory body, entrusted with the investigation.
• Intervention aimed at ensuring a thorough, unbiased examination by qualified regulatory experts.
Protecting Shareholders:
• Judicial decision influenced by potential impacts on shareholders and the broader economy.
• Balancing act aimed at safeguarding the interests of investors while allowing regulatory bodies to conduct due diligence.

28. “3 Pillars of Resilience”
Confidence:
• FPO success despite Hindenburg report, showcasing
investor confidence.
• Stable credit ratings post-allegations reinforced trust in
Adani Group.
Mindset:
• Strategic diversification from B2B to B2C sectors.
• Key acquisitions and growth-focused initiatives
demonstrated a proactive mindset.
Correction:
• Financial health improvement emphasized through
positive cash flow and record profits.
• Asset-centric approach assured investors of Adani's
commitment to stability.

29. "Global Expansion and Strategic Investments"
Sri Lanka Investment:
• Adani investing $700 million in Sri Lanka, establishing a terminal in the Colombo port.
• Largest investment by an international player in Sri Lanka's port sector.
US Government Collaboration:
• In November, the US government invested $553 million in Adani's project.
• Strategic collaboration aimed at countering China's influence and strengthening
geopolitical ties.
Israel Ventures:
• Adani acquired Israel's Haifa port for $1.2 billion, strategically positioning in the
Middle East.
• Projects in Israel contributing to improving India's business ties and geopolitical
influence.
Australian Business Expansion:
• Adani's presence in Australia with projects like Abbot Point Port and Rugby Run Solar
Farm.
• Challenging China's strategy, Adani's global ventures align with Indian government
objectives.

30. Up from 52w low: 106 % Up from 52w low: 349 % Up from 52w low: 39.5 %
Up from 52w low: 202 % Up from 52w low: 66.0 % Up from 52w low: 68.0 %
Up from 52w low: 87.7 % Up from 52w low: 331 % Up from 52w low: 142 %
Bounce from the Bottom

31. Too BIG to FAIL
The world,
The Future,
& Adani

32. Adani Portfolio: Decades long track record of industry best growth with national footprint

34. Renewable Energy: Adani aims to become the world's largest solar power company by 2025 and the largest renewable
energy company by 2030. They have substantial investments in solar, wind, and hydrogen power generation.
Adani aims to be the world's largest renewable energy company by 2030

36. • Adani Green Energy ranked as #1 solar power generation owner in the world with 12.32 GW portfolio
• Adani Group fully integrated, manufacturing solar cells and modules
• Committed to decarbonizing energy landscapes, displacing 1.4 billion tons of CO2
• Adani Green had 10.1 GW of projects under construction and awarded capacity
Green Energy & Adani

37. Infrastructure: Adani plans to expand its port operations, develop a logistics network, and invest in airports
and data centers.
Adani plans to increase port capacity by 500 million tonnes by 2030
• Unmanned Aerial Systems
• Small Arms and Ammunition
• Counter Drone Systems
• Aircraft Services and MRO

38. FMCG: Expect Adani to focus on strengthening
its Wilmar joint venture and exploring growth
opportunities within the FMCG sector.
Adani Wilmar aims to achieve a 20% market
share in the Indian edible oil segment by 2027

39. Exploring New Horizons:
Potential Diversification

40. Defence and Aerospace: Adani has expressed interest in entering the defence and aerospace sectors,
potentially collaborating with existing players or exploring greenfield initiatives.

41. Green Hydrogen: As part of its clean energy focus, Adani is investing in green hydrogen
production and its related ecosystem.
Adani aims to achieve 1 million tonnes of green hydrogen production capacity by 2030

42. Digital and Technology: Adani might
explore opportunities in digital
infrastructure, data centers, and other
technology-driven ventures.

43. Mar-20 Mar-21 Mar-22 Mar-23 TTM
Sales 373 358 396 386 330
Net Profit 28 75 85 53 -14
Mar-20 Mar-21 Mar-22 Mar-23 TTM
Sales 1,875 1,696 3,038 4,378 4,423
Net Profit 436 463 509 546 597
Mar-20 Mar-21 Mar-22 Mar-23 TTM
Sales 11,873 12,550 17,119 20,852 25,611
Net Profit 3,785 5,049 4,953 5,393 7,230
Mar-20 Mar-21 Mar-22 Mar-23 TTM
Sales 29,657 37,090 54,155 58,185 51,896
Net Profit 461 729 804 582 85
Dec-20 Dec-21 Mar-23 TTM
Sales 13,786 16,152 22,210 19,341
Net Profit 1,430 1,863 885 1,627
Dec-19 Dec-20 Dec-21 Mar-23 TTM
Sales 27,104 24,516 28,965 38,937 32,232
Net Profit 2,783 3,107 3,711 3,024 3,976
Mar-20 Mar-21 Mar-22 Mar-23 TTM
Sales 43,403 39,537 69,420 1,36,978 1,07,638
Net Profit 1,040 1,046 788 2,422 3,764
Mar-20 Mar-21 Mar-22 Mar-23 TTM
Sales 26,468 26,221 27,711 38,773 47,230
Net Profit -2,275 1,270 4,912 10,727 23,334
Adani Ports & Special Economic Zone Ltd
Adani Total Gas Ltd
New Delhi Television Ltd
Adani Wilmar Ltd
ACC Ltd
Ambuja Cements Ltd
Adani Power Ltd
Adani Enterprises Ltd

44. Conclusion:
Adani Group's transformation from a commodities trader to a diversified powerhouse is marked by
strategic decisions, resilience, and sustainability commitment. Overcoming challenges in palm oil,
dominating Indian ports, and entering cement, Adani showcases business acumen. Adani Green Energy
cements global leadership in solar power. Defence against allegations and a three-pronged strategy focus
on investor confidence, growth, and financial stability.
Future plans include becoming the world's largest renewable energy company, expanding port capacity,
and exploring new sectors. Global ambitions in Sri Lanka, collaborations with the US, ventures in Israel,
and projects in Australia highlight international influence. With a focus on sustainability, innovation, and
global expansion, Adani shapes India's economic landscape and contributes to the global shift to a
sustainable future. Investors should monitor Adani's moves for informed decisions in this evolving
business landscape.
Adani's journey isn’t just a success story; it's a blueprint for the ambitious, a beacon for
dreamers, and a reminder that your journey can be as extraordinary as you envision it to be.
“ ”

45. Thank you
By Team
Inspire the Future, Transform Today!
Aleena Simon
Bhakthi Hegde
Ravishankar Bhat
Shreya Rao
Sneha