Gautam Adani expresses concern over “twisted” media reporting of regulator decision

Dhamra, Jul 12 :  Adani Group chairman Gautam Adani Monday expressed his concern over reckless and irresponsible reporting by media which, according to him, affected the market valuation of the company.

Addressing the AGM 2021, Adani said, “Recently, a few media houses indulged in reckless and irresponsible reporting related to administrative actions of regulators. This caused unexpected fluctuations in the market prices of Adani stocks. Unfortunately, some of our small investors were affected by this twisted narrative in which some commentators and journalists seemed to imply that companies have regulatory powers over their shareholders and that companies can compel disclosure.”

The Group chairman said, “I must draw attention to our philosophy of how we look at our investments. We are inter-generational holders of equity. We focus on creating long term sustainable value for our partners, our minority investors and ourselves. “

Gautam Adani said, “For the financial year 2021.the consolidated EBITDA (or Earnings Before Interest, Taxes, Depreciation and Amortization) for our listed portfolio was over Rs 32,000 crore, registering a year-on-year growth of 22 percent. All Adani stocks generate returns over 100 percent – and our businesses ensured that we returned close to Rs 9,500crore to you, our equity shareholders. This is a 166% increase in Profit After Tax on a year-on-year basis.

Milestones we achieved in the last year.

Adani Ports and Special Economic Zone continued to transform itself from a Ports Company into an integrated Ports and Logistics Company. The Financial Year 2021 was a truly transformational year and APSEZ crossed a landmark after its share of India’s port-based cargo business rose to 25% and the container segment market share grew to 41%. It continued to diversify further, with LNG & LPG business in Mundra added to the portfolio and LNG operations being added in Dhamra. No other company in the world runs a port business of such scale and reach.