One year after Hindenburg Report, Gautam Adani said, 'We have become stronger...' - Newztezz Online


Thursday, January 25, 2024

One year after Hindenburg Report, Gautam Adani said, 'We have become stronger...'

The past one year has been full of storms for industrialist Gautam Adani. The biggest storm was the 'Hindenburg Report'. After this his group also had to face many other investigations including SEBI. But now after a year, Gautam Adani says that this period made him stronger.

A year has now passed since Hindenburg Research's report against Adani Group. When this report came last year, it not only shook the Adani Group but also shook the entire corporate sector of India. However, now after a year, he has recovered from the shock of the Hindenburg Report. In the words of Gautam Adani, now his group has emerged stronger than before.

The report of American short selling company Hindenburg Research came only on January 24 last year. Its disadvantage was that Gautam Adani, who had become the third richest person in the world, suddenly dropped down to the 25th position. There was a big decline in his net worth. But now if we look at the situation after a year, he has again become the 14th richest person in the world.

'We became stronger'

On the occasion of the anniversary of the Hindenburg Report, Gautam Adani said that the difficulties of the last year have made the Adani Group stronger. Now it is moving forward on the path of growth. Its asset base has improved and it is implementing projects like Dharavi Redevelopment in the country.

In his article for a newspaper, Gautam Adani said that the group has raised equity of about Rs 40,000 crore by selling stake in some of its companies. This is equal to the loan to be repaid in the next two years. Not only this, the group has repaid the loan of Rs 17,500 crore ahead of schedule through 'margin-linked' funding and has reduced its loan burden.

We will neither be afraid nor waver

Recalling the period after the Hindenburg Report, Gautam Adani said that at that time he told his business managers to focus on their work. Our continued focus on our operations has resulted in the Group's highest ever profit in the July-September quarter of 2023-24. Most of the listed companies of the group have recovered the losses incurred after the Hindenburg report.

He said that we are committed to maintaining the pace of our growth. The Group has continued its investments, as evidenced by the increase in our asset base by Rs 4.5 lakh crore.

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