Adani Group
Adani Group is an Indian multinational conglomerate, headquartered in Ahmedabad. Founded by Gautam Adani in 1988 as a commodity trading business, the Group's businesses include sea and airport management, electricity generation and transmission, mining, natural gas, food, weapons, and infrastructure. More than 60% of its revenue is derived from coal-related businesses.
Company type | Corporate group |
---|---|
Industry | Conglomerate |
Founded | 20 July 1988 |
Founder | Gautam Adani |
Headquarters | , India |
Area served | Worldwide |
Key people | Gautam Adani (Chairman) |
Services |
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Revenue | ₹2.625 lakh crore (US$33 billion) (2023) |
Net income | ₹23,509 crore (US$2.9 billion) (2023) |
Number of employees | ~29,200+ (2023) |
Subsidiaries |
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Website | adani.com |
Footnotes / references |
At its peak, Adani was the largest Indian conglomerate, surpassing Tata Group. It lost more than $104 billion in value after fraud and market manipulation allegations by short-seller firm Hindenburg Research. The Adani Group has also attracted other controversies due to reports of stock manipulation, accounting irregularities, political corruption, cronyism, tax evasion, environmental damage, and suing journalists.