Adani Group is an Indian multinational conglomerate, headquartered in Ahmedabad. It was founded by Gautam Adani in 1988 as a commodity trading business, with the flagship company Adani Enterprises. The Group's diverse businesses include port management, electric power generation and transmission, renewable energy, mining, airport operations, natural gas, food processing and infrastructure. Worldwide, Adani Group has over 100,000 total employees, both directly and indirectly.
In April 2021,
Adani Group became the third Indian conglomerate to cross US$100 billion in market capitalisation.It crossed the market capitalisation of US$200 billion in April 2022, becoming the third Indian conglomerate after Tata Group and Reliance Industries to do so.In November 2022, Adani Group market capitalization reached top $280 billion (INR 24 trillion) and market capital vision $1 trillion by 2029,[9] surpassing Tata Group.
According to The Washington Post, more than 60 percent of the Adani Group's revenue is derived from coal-related businesses.
HISTORY
Adani Exports Limited commenced as a commodity trading firm in 1988 and diversified into the import and export of multi-basket commodities. With a capital of ₹5 lakhs, the company was established as a partnership firm with the flagship company Adani Enterprises, previously Adani Exports. In 1990 the Adani Group developed its own port in Mundra to provide a base for its trading operations. It began construction at Mundra in 1995. In 1998, it became the top net foreign exchange earner for India Inc.The company began coal trading in 1999, followed by a joint venture in edible oil refining in 2000 with the formation of Adani Wilmar.
The group's second phase started with the creation of large infrastructure assets. The company established a portfolio of ports, power plants, mines, ships and railway lines inside and outside India.
Adani handled 4 Mt of cargo at Mundra in 2002, becoming the largest private port in India. Later in 2006, the company became the largest coal importer in India with 11 Mt of coal handling.The company expanded its business in 2008, purchasing Bunyu Mine in Indonesia which has 180 Mt of coal reserves. In 2009 the firm began generating 330 MW of thermal power. It also built an edible oil refining capacity in India of 2.2 Mt per annum. Adani Enterprises became the largest trading house in India importing coal with a market share 60%. It also supplies coal to NTPC, India.[citation needed] The Adani group became India's largest private coal mining company after Adani Enterprises won the Orissa mine rights in 2010. Operations at the Port of Dahej commenced in 2011 and its capacity subsequently grew to 20 Mt. The company also bought Galilee Basin mine in Australia with 10.4 gigatonnes (Gt) of coal reserves. It also commissioned 60 Mt of handling capacity for the coal import terminal in Mundra, making it the world's largest.[16] In the same year, the Adani group also bought Abbot Point port in Australia with 50 Mt of handling capacity. It commissioned India's largest solar power plant with a capacity 40 MW. As the firm achieved 3,960 MW capacity, it became the largest private sector thermal power producer in India. In 2012 The company shifted its focus on three business clusters – resources, logistics and energy.
Adani Power emerged as India's largest private power producer in 2014.Adani Power's total installed capacity then stood at 9,280 MW. The Mundra Port, Adani Ports and SEZ Ltd. (APSEZ), handled 100 Mt in fiscal 2013–14.[citation needed] On 16 May of the same year, Adani Ports acquired Dhamra Port on East coast of India for ₹5,500 crore (equivalent to ₹75 billion or US$940 million in 2020). Dhamra Port was a 50:50 joint venture between Tata Steel and L&T Infrastructure Development Projects, which has been acquired by Adani Ports. The port began operations in May 2011 and handled a total cargo of 14.3 Mt in 2013–14. With the acquisition of Dhamra Port, the Group is planning to increase its capacity to over 200 Mt by 2020.
2015, the Adani Group's Adani Renewable Energy Park signed a pact with the Rajasthan Government for a 50:50 joint venture to set up India's largest solar park with a capacity of 10,000 MW. In November 2015, the Adani group began construction at the port in Vizhinjam, Kerala.
Adani Aero Defence signed a pact with Elbit-ISTAR and Alpha Design Technologies to work in the field of Unmanned Aircraft Systems (UAS) in India in 2016. In April, Adani Enterprises secured approval from the Government of Gujarat to begin work on building a solar power equipment plant. In September,
Adani Green Energy (Tamil Nadu), the renewable wing of the Adani Group, began operations in Kamuthi in Ramanathapuram, Tamil Nadu with a capacity of 648 MW at an estimated cost of ₹4,550 crore (equivalent to ₹56 billion or US$700 million in 2020). In the same month, the Adani Group inaugurated a 648 MW single-location solar power plant. It was the world's largest solar power plant at the time it was set up. In December, the Adani Group inaugurated a 100 MW solar power plant in Bhatinda, the largest in Punjab. The plant was built at a cost of ₹640 crore (equivalent to ₹782 crore or US$98 million in 2020).
On 22 December 2017, the Adani Group acquired the power arm of Reliance Infrastructure for ₹18,800 crore (US$2.89 billion).
In October 2019, French oil and gas company TotalEnergies bought a 37.4% stake in Adani Gas for ₹6,155 crore (US$874.04 million) and obtained joint control of the company. Total also invested US$510 million in a subsidiary of Adani Green Energy in February 2020.
In August 2020, Adani Group obtained a majority stake in Mumbai and Navi Mumbai airports after entering a debt acquisition agreement with GVK Group. Through a concession agreement with the Airports Authority of India, Adani Group also obtained a 50-year lease on Ahmedabad, Guwahati, Jaipur, Lucknow, Mangalore and Thiruvananthapuram airports.
In May 2021, Adani Green Energy acquired SB Energy, a joint venture of SoftBank Group and Bharti Enterprises, for US$3.5 billion.
In May 2022, the Adani Group acquired Ambuja Cements and ACC for US$10.5 billion. The deal will make the Adani Group the second largest cement maker in India.
In May 2022, UAE-based conglomerate International Holding Company (IHC), headed by Syed Basar Shueb, invested US$2 billion in three Adani Group companies, namely Adani Green Energy, Adani Transmission and Adani Enterprises. In June 2022, TotalEnergies acquired a 25% stake in Adani New Industries, the newly formed green hydrogen subsidiary of Adani Enterprises, for US$12.5 billion.
Listed companies
Adani Enterprises
Adani enterprises is a holding company which is primarily engaged in mining and trading of coaland iron ore on a standalone basis, and acts as an incubator for Adani Group's new business ventures.It has three main subsidiaries: Adani Wilmar (food processing), Adani Airport Holdings (airport operations) and Adani Road Transport (road development).Through its other subsidiaries, Adani Enterprises also has business interests insolar pv module manufacturing, water infrastructure, data center agri-output storage and distribution,defence and aerospace,bunkering rail and metro infrastructure, real estate, financial services, oil exploration petrochemical and cement.
Adani Green Energy
Adani green energy is the renewable energy arm of the group, having wind and solar power plants in its portfolio. It is the world's largest solar power developer by capacity, with a total capacity of 12.3 GW. In 2022, Adani Green formed 3 new subsidiary companies, called Adani Renewable Energy Thirty Six, Adani Renewable Energy Forty Limited and Adani Renewable Energy Forty Seven Limited.
Adani Power
Adani Power was established in August 1996.The company develops and maintains power projects and is the largest private sector power generation company in the country. It has a combined installed capacity of 12,450 MW with four thermal power projects across India.
Adani Transmission
Integrated in 2013, Adani Transmission handles the commissioning, operations and maintenance of electric power transmission systems.As of May 2021, the company holds, operates and maintains 17,200 circuit kilometres of transmission lines that range from 400 to 765 kilovolts, making it India's largest private sector power transmission and distribution network.
Adani Total Gas
Adani Total Gas is a city gas distribution company serving both industrial and residential customers in India through piped natural gas connections and compressed natural gas stations. It is a joint venture between Adani Group and the French oil and gas company TotalEnergies.Adani Total Gas has presence in 22 geographical areas (GAs) as a standalone entity as of November 2020. In addition, Indian Oil-Adani Gas Pvt. Ltd., a 50:50 joint venture between Adani Total Gas and Indian Oil Corporation, operates city gas distribution networks in 19 GAs. With a combined presence of 41 GAs in 74 districts, Adani Total Gas is the largest city gas operator in India. Recently, The Adani Group announced strategic collaboration with Snam, Europe's leading gas infrastructure company on energy mix transition.
Adani Wilmar
Adani Wilmar, a joint venture between Adani Enterprises Ltd and Wilmar International Limited, is the owner of the Fortune brand of edible oils.
In May 2022, Adani Wilmar Limited (AWL) acquired ‘Kohinoor’ brand from McCormick Switzerland
Adani Ports & SEZ
2015, the Adani Group's Adani Renewable Energy Park signed a pact with the Rajasthan Government for a 50:50 joint venture to set up India's largest solar park with a capacity of 10,000 MW.[24] In November 2015, the Adani group began construction at the port in Vizhinjam, Kerala.
Adani Aero Defence signed a pact with Elbit-ISTAR and Alpha Design Technologies to work in the field of Unmanned Aircraft Systems (UAS) in India in 2016. In April, Adani Enterprises secured approval from the Government of Gujarat to begin work on building a solar power equipment plant. In September, Adani Green Energy (Tamil Nadu), the renewable wing of the Adani Group, began operations in Kamuthi in Ramanathapuram, Tamil Nadu with a capacity of 648 MW at an estimated cost of ₹4,550 crore (equivalent to ₹56 billion or US$700 million in 2020). In the same month, the Adani Group inaugurated a 648 MW single-location solar power plant. It was the world's largest solar power plant at the time it was set up. In December, the Adani Group inaugurated a 100 MW solar power plant in Bhatinda, the largest in Punjab. The plant was built at a cost of ₹640 crore (equivalent to ₹782 crore or US$98 million in 2020)
On 22 December 2017, the Adani Group acquired the power arm of Reliance Infrastructure for ₹18,800 crore (US$2.89 billion).
In October 2019, French oil and gas company TotalEnergies bought a 37.4% stake in Adani Gas for ₹6,155 crore (US$874.04 million) and obtained joint control of the company.[28] Total also invested US$510 million in a subsidiary of Adani Green Energy in February 2020.
In August 2020, Adani Group obtained a majority stake in Mumbai and Navi Mumbai airports after entering a debt acquisition agreement with GVK Group.[30] Through a concession agreement with the Airports Authority of India, Adani Group also obtained a 50-year lease on Ahmedabad, Guwahati, Jaipur, Lucknow, Mangalore and Thiruvananthapuram airports.
In May 2021, Adani Green Energy acquired SB Energy, a joint venture of SoftBank Group and Bharti Enterprises, for US$3.5 billion.
In May 2022, the Adani Group acquired Ambuja Cements and ACC for US$10.5 billion. The deal will make the Adani Group the second largest cement maker in India.
In May 2022, UAE-based conglomerate International Holding Company (IHC), headed by Syed Basar Shueb, invested US$2 billion in three Adani Group companies, namely Adani Green Energy, Adani Transmission and Adani Enterprises. In June 2022, TotalEnergies acquired a 25% stake in Adani New Industries, the newly formed green hydrogen subsidiary of Adani Enterprises, for US$12.5 billion
BY - PRATYKSH BLOG
