June 24, 2025:
The conglomerate will invest between $15 billion and $20 billion annually over the next five years, for a total of up to $100 billion across its diverse businesses, according to an ambitious capital spending plan announced by Gautam Adani, chairman of the Adani Group. Adani reiterated the group's dedication to aligning with India's developmental priorities during his remarks at the company's annual general meeting. In the annual letter to shareholders, he stated, "Our capital investment across businesses is set to break all records–we anticipate an annual capex spend of $15–20 billion for the next five years."
"No one from the Adani Group has been charged," the CEO emphasized, despite legal scrutiny from US authorities over alleged FCPA violations. Its governance standards are "of global standards, and our compliance frameworks are robust and non-negotiable." "True leadership is forged in the face of crisis," he said, highlighting the firm's resilience as it has recovered from previous controversies, including those resulting from a 2023 Hindenburg Research report. The company reported a 7% increase in revenue in fiscal year 2024–2025, reaching $31.5 billion, and a favorable net debt-to-EBITDA ratio of 2.6x, which Adani called "healthy" ⁼. The investment frenzy will span a number of industries, including green energy, data centers, ports, airports, and power generation.
As part of a larger plan to reach 100 GW of total power generation capacity—including solar, wind, hydro, and green hydrogen—by 2030, the group wants to construct the largest renewable energy park in the world in Khavda, Gujarat. The successful acquisition of $1 billion in funding for the expansion of Mumbai's airport, supported by institutional investors like Apollo-managed funds, BlackRock, and Standard Chartered, was one of the noteworthy agreements made public at the AGM. This indicates that the group's infrastructure goals have the support of strong international investors. The announced investments are seen by analysts as a calculated attempt to strengthen Adani's position in green energy and infrastructure, two areas that are essential to India's drive for sustainable economic growth. According to Adani, a ₹15,000 cr share offering and preferential allocation to institutional investors will provide a portion of the funding.
As Gautam Adani concluded his remarks, he told shareholders: “We live in a world where negativity often echoes louder than truth. But… these milestones are reflections of our relentless strength and tenacity.”