Adani Enterprises executive chairman Gautam Adani earned an annual salary of Rs 2.39 crore in FY 2022-23. Of this, Rs 2.12 crore was his salary and Rs 0.27 crore was perquisites & allowances, according to the company's annual report
Gautam Adani's salary was less than his brother Rajesh Adani, Adani Enterprises MD, who took home an annual salary of Rs 5.60 crore which included Rs 3.17 crore salary and perquisites & allowances worth Rs 0.39 crore. Other company directors Pranav Adani and Vinay Prakash took home a remuneration of Rs 4.50 crore and Rs 52.25 crore respectively. Vinay Prakash's salary also included a performance-based variable incentive
The flagship Adani group company has been in focus ever since the US-based short seller Hindenburg Research on January 24, 2023, released a scathing report alleging the conglomerate of stock manipulation, fraudulent transactions, and other financial misdeeds. Adani Group chairman Gautam said in the annual report that Hindenburg Research's damaging report was aimed at damaging the group’s reputation and generating profits through a drive-down of Adani stocks
In the Adani Enterprises annual report, Gautam Adani stated that the conglomerate is confident of its governance and disclosure standards. “The report was a combination of targeted misinformation and outdated, discredited allegations aimed at damaging our reputation and generating profits through a deliberate drive-down of our stock prices,” he said in his message to shareholders
Founded by Gautam Adani, Adani Group started as a commodity trading business. However, its business since has expanded and now includes port management, electric power generation and transmission, renewable energy, mining, airport operations, natural gas, food processing, and infrastructure
Adani Group's first IPO came in 1994. The issue was subscribed 25x and the stock got listed on BSE and NSE at Rs 150 per share. A year later, the company started Mundra Port operations. In 1999, it commenced the IRM business
Adani Group entered the city gas distribution business in 2001. Six years later, the group launched Adani Ports IPO, and the issue was subscribed 116x. In 2009, Adani Power IPO was launched and the issue was subscribed 21x
In 2008, Adani Group acquired the Bunyu Mine in Indonesia. In 2010, Adani Group acquired the Carmichael Mine in Australia. Five years later, the conglomerate completed the demerger of Adani Ports, APL and ATL
In 2017, Adani Group started manufacturing solar PV panels. A year later, the Gautam Adani-led company demerged Adani Green Energy and Adani Gas. In 2020, Adani Group forayed into the Airports business
Last year, Adani acquired Mumbai and Navi Mumbai Airports, and it also launched the IPO of its FMCG company Adani Wilmar. This year the conglomerate fully entered the media industry as it completed the acquisition of NDTV