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Adani Group

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Adani Group
Company typePublic Limited Company
BSE: 512599, NSE: ADANIENT
IndustryConglomerate
Founded1988; 36 years ago (1988)
FounderGautam Adani
Headquarters
Ahmedabad, Gujarat
,
India
Area served
India
Key people
Gautam Adani
(Chairman)
ProductsResources, Logistics, Energy & Agribusiness
ServicesResources, Logistics, Energy & Agribusiness
RevenueIncrease US$ 12 billion (31st March 2016) [1]
Increase US$ 1.9 billion (31st March 2015) [2]
Decrease US$ 340 million (31st March 2015) [3]
Total assetsIncrease US$ 19 billion (As Of March 2015) [4]
Number of employees
10,400 (As Of March 2015)
SubsidiariesAdani Ports & SEZ Limited, Adani Power, Adani Gas Limited
Websitewww.adani.com

Adani Group is an Indian multinational conglomerate company headquartered in Ahmedabad, Gujarat, India. Its diversified businesses include resources, logistics, agribusiness and energy sectors. [5] The Group is the largest port developer and operator in India with Mundra Port being a commercial port. It owns Fortune, India’s largest edible oil brand through a joint venture with Wilmar International in Singapore. [6] The Flagship Company of the Adani group is Adani Enterprises Limited. In April 2014, it added the 4th unit of 660 MW at its Tiroda Power plant, making Adani power the largest private power producer of the country. In 2015, Adani was ranked India's most trusted infrastructure brand by The Brand Trust Report 2015.[7]

The company was founded in 1988 as a commodity trading business. First generation entrepreneur Gautam Adani is the founder & chairman of Adani Group.

History

The Adani Group commenced as a commodity trading firm in 1988, grew quickly and diversified into the import and export of multi-basket commodities.[8] In the 1990s, it developed its own port in Mundra to provide a base for its trading operations. In 1995, Adani started construction at Mundra. In 1998, it became the top net foreign exchange earner for India.[9] Soon in 1999, the company commenced coal trading, followed by a joint venture in edible oil refining in 2000 by forming Adani Willmar. [6]

The group’s second phase started with the creation of large infrastructure assets. The company established a portfolio of ports, powerplants, mines, ships and railway lines within and outside India. In 2002, Adani handled 4 million MT of cargo at Mundra, becoming the largest private port in India. Later in 2006, the company became the largest coal importer in India with 11 million MT of coal handling.[9]

The company expanded its business in 2008 as they bought Bunyu Mine in Indonesia having 180 million MT of coal reserves. In the subsequent year, the firm started 330 MW thermal power generation, followed by 2.2 million MT per annum edible oil refining capacity in India.[9]

Adani Enterprises is the largest trading house of India in importing coal with a market share 60%. It also supplies coal to NTPC Limited, India. Adani group became India's largest private coal mining company after Adani Enterprises won the Orissa mine rights.[10]

In 2011, Port of Dahej Port of Dahej became operational and now has a capacity of 20 million MT capacity. The company also bought Galilee Basin mine in Australia with 10.4 billion MT of coal reserves. It also commissioned 60 million MT of handling capacity coal import terminal in Mundra, making it the world’s largest.[11][9]

Further in the same year, the Adani group also bought Abbot Point port in Australia with 50 million MT of handling capacity.[11] It also commissioned India’s largest solar power plant of 40 MW. As the firm achieved 3960 MW capacity, it became the largest private sector thermal power producer in India.

In 2012, the Adani Group took the next phase of growth. It has embarked on the third phase of development – an integration infrastructure business. It revamped its logo and developed a new identity. The company focuses on three important business clusters that include resources, logistics and energy.

In 2014, Adani Power emerged as India’s largest private power producer.[12]Adani Power's total installed capacity now stands at 9,280 MW.[13]

Mundra Port, the flagship port of Adani Ports and SEZ Ltd. (APSEZL), has achieved a new landmark of handling 100 million metric tonnes in FY 13-14. Mundra is the only commercial port in India to have achieved such a unique feat. APSEZL, India’s largest port developer and operator is part of the Adani Group.[14]

On 16 May 2014, Adani Ports acquired Dhamra Port on East coast of India for Rs 5,500 crore.[15] Dhamra Port is a 50:50 joint venture between Tata Steel and L&T Infrastructure Development Projects which is now acquired by Adani Ports. The port commenced operations in May 2011 and handled a total cargo of 14.3 million tonnes (mt) in 2013-14.[16]The acquisition of Dhamra port will help the company ramp up its capacity to over 200 million tonne by 2020, making it a leader among private sector port operators in the country. [17][18]

2015: Adani Renewable Energy Park, Rajasthan In June 2015, Adani Group’s Adani Renewable Energy Park signed a pact with Rajasthan Government for a 50:50 joint venture, Adani Renewable Energy Park, Rajasthan.

2015: Vizhinjam Port In November, 2015, Adani group started construction at port in Vizhinjim, Kerala at an estimated cost of Rs. 4,089 crore. Once complete, it will have strategic access with international shipping route that connects Europe, Persian Gulf and the Far East.

2016 : Tie up with Elbit for Defence In March, 2016, 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. Gujarat In April, 2016, Adani Enterprises Limited secured approval from the Gujarat Government to begin work on building a solar power equipment plant. Kamuthi In September, 2016, Adani Green Energy (Tamil Nadu), the renewable wing of the Adani Group, kicked off operations in Kamuthi in Ramnathapuram in Tamil Nadu with a capacity of 648 megawatts (MW) at an estimated cost of Rs. 4,550 crore. Bhatinda In December, 2016, Adani Group inaugurated 100 MW solar power plant in Bhatinda, the largest in Punjab. The plant is set up at a cost of Rs. 640 crore.

Special Economic Zone

Main article: Adani Ports & SEZ Limited

The GAPL and the SEZ venture was merged before IPO so GAPL does stand as an entity now. GAPL is also in talk with Orissa government for setting up an all weather port near POSCO project. MPSEZ is the largest private port in India.[19]

Ports controlled by Adani Group are:

  • Adani Mundra Port[20]
  • Tuna Terminal [21]
  • Adani Petronet Port Pvt. Ltd. (Dahej)[22]
  • Adani Hazira Port[23]
  • Adani Murmugoa Coal Terminal[24]
  • Adani Vizhinjam Port[25]
  • Adani Dhamra Port[26]
  • Adani Vizag Coal Terminal Pvt. Ltd.[27]
  • Kattupalli Port[28]
  • Adani Ennore Port[29]

Edible oil

Adani Wilmar is the largest manufacturer of palm oil in India with a market share of about 20%. It is a joint venture between Adani Enterprises Limited and Singapore based Wilmar International Limited.

Fortune is the brand of adani

Adani Realty

Adani Realty is one of the youngest arms of India's top infrastructure and development conglomerate - Adani Group. With a commitment to getting India on par with the most advanced countries around the world, adani has begun development in our most promising cities; integrating the finest design aesthetics with cutting edge construction technology.[30]

Projects being developed by Adani Realty are:

  • Adani Oyster Grande
  • Adani Samsara
  • Adani Northpark
  • Adani Shantigram
  • Adani Western Heights
  • Adani Pratham
  • Adani Aangan
  • Adani Monte South

Philanthropy - Adani Foundation

The Adani Foundation is the Corporate Social Responsibility arm of Adani Group, founded in 1996. The Foundation is registered under the Bombay Public Charity Trusts Act of 1950 and Society’s Registration Act 1860. Other than Gujarat, the Foundation operates in the states of Maharashtra, Rajasthan, Himachal Pradesh, Madhya Pradesh, Chhattisgarh and Odisha.

The focus of the activities are mainly on three major dimensions of human development which include expansion of sustainable livelihood opportunities, improving the status of health and education and broadening the range of choices by creating rural infrastructure. The Foundation conceptualises its purpose by consolidating the activities under four broad working areas that are as follows:

  • Education: For example, on February 13, 2012 Adani Foundation partnered with IndiaSkills, a Joint Venture in vocational training from Manipal Global Education Services, and City & Guilds, a provider of work-related assessment and qualifications, to set up a skills training centre in Gujarat. The Ahmedabad-based centre will offer skill-related courses in retail, hospitality, security, construction and engineering, according to a release.[31]
  • Community Health
  • Sustainable Livelihood Development: For example, on May 8, 2013 Gautam Adani announced that Adani group will set up a hospital and medical college worth Rs 700 crore to help the poor at Adani’s Shantigram township. The hospital will work on a model of “Providing the latest medical treatment to both who can afford to pay and those who can’t”.[32] Adani Foundation is committed to helping fisher folk. The Foundation started a special scheme for people belonging to Mundra taluka in Kutch district that envisages providing financial assistance to 500 fishermen of the coastal taluka for purchasing fishing equipment. The children of the fishermen are also provided with educational facilities including a sport school for them. Similar facilities will be developed at Luni village and two other villages[33]
  • Rural Infrastructure Development

Vision: "Accomplish passionate commitment to the social obligations towards communities, fostering sustainable and integrated development, thus improving quality of life"

Mission: "To play the role of facilitator for the benefit of the public without distinction of caste or community, sector, religion, class or creed, in the fields of education, community health, and promotion of social and economic welfare and upliftment of the people in general."[34]

In January 2014 the Adani Foundation was awarded the 3rd Annual Greentech CSR Award.CSR Award.[35]

Institutions

ADANI group manages one management college namely (AIIM) and a medical college, GAIMS at Ahmedabad.

Rajesh Adani, Vice Chairman of the Adani Group, is nominated to the Finance Committee of the Pandit Deendayal Petroleum University, Gandhinagar, Gujarat.[citation needed]

Australian Expansion Controversy

Environmentalists are opposed to Adani's expansion in Carmichael, Australia. They cited concerns with pollution of Great Barrier Reef with dredge spoil, [36] as well as previous history of the group failing to control environmental damage in Mundra, India.[37] As of November 2014, Mr Adani stated in an interview that his group "decided to dump the dredged material on land instead of dumping it near the Great Barrier Reef."[38]

References

  1. ^ "about us".
  2. ^ "Consolidated Yearly Results - Adani Transmission".
  3. ^ "Profit loss 2015".
  4. ^ "Balance sheet 2015".
  5. ^ "Gautam Adani – "The Gujrati Billionaire"". Archived from the original on 1 June 2013. Retrieved 23 June 2013. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  6. ^ a b "Adani to bring Wilmar products to India". Retrieved 23 June 2013.
  7. ^ Chandramouli (2015). The Brand Trust Report 2015. TRA. p. 152. ISBN 978-81-920823-8-7.
  8. ^ "Adani Group commenced as a commodity trading". Retrieved 23 June 2013.
  9. ^ a b c d "Adani Business of Success" (PDF). Retrieved 23 June 2013.
  10. ^ "Adani to develop Orissa coal mine". The Economic Times. 27 October 2010. Retrieved 23 June 2013.
  11. ^ "Adani Business of Success". Reuters. Retrieved 23 June 2013.
  12. ^ Gadgil, Makarand (3 April 2014). "Adani Power commissions 4th unit of Tiroda power plant in Gujarat". Livemint. Retrieved 16 June 2014.
  13. ^ Thakkar, Mitul (4 April 2014). "Adani Power becomes India's largest private power producer". Economic Times. Retrieved 16 June 2014.
  14. ^ "Adani's Mundra Port handles 100 MMT cargo in FY '14". Business Standard. 31 March 2014. Retrieved 16 June 2014.
  15. ^ "Gautam Adani strikes: Announces Dhamra port acquisition; biggest port deal". Economic Times. 16 May 2014. Retrieved 16 June 2014.
  16. ^ "Adani acquires Dhamra Port for Rs 5,500 crore". Business Standard. 17 May 2014. Retrieved 16 June 2014.
  17. ^ Special Correspondent (16 May 2014). "Adani Ports acquires Dhamra Port for Rs.5,500 cr". The Hindu. Retrieved 16 June 2014.
  18. ^ "Adani Ports buys Dhamra Port from Tata Steel, L&T for Rs 5,500 crore". Business Today. 17 May 2014. Retrieved 16 June 2014.
  19. ^ Pathak, Maulik. "Mundra overtakes Kandla to emerge as India's largest port". Retrieved 28 February 2016.
  20. ^ "Adani Ports".
  21. ^ "Adani Ports".
  22. ^ "Adani Ports".
  23. ^ "Adani Ports".
  24. ^ "Adani Ports".
  25. ^ "Adani Ports".
  26. ^ "Adani Ports".
  27. ^ "Adani Ports".
  28. ^ "Adani Ports".
  29. ^ "Adani Ports".
  30. ^ "Adani Realty".
  31. ^ "Adani Foundation partners with IndiaSkills". Business Line. 13 February 2012. Retrieved 16 June 2014.
  32. ^ "Adani Foundation To Set Up Rs 700 crore Hospital in Shantigram Township". Gujarat Observer. 9 May 2013. Retrieved 16 June 2014.
  33. ^ "Adani Foundation to help fishermen buy equipment". Daily Bhaskar. Retrieved 16 June 2014.
  34. ^ "Overview". Adani Foundation. Retrieved 16 June 2014.
  35. ^ "Adani Foundation bags 3rd Annual Greentech CSR 2013 Award". India Environment Portal. 31 January 2014. Retrieved 16 June 2014.
  36. ^ "Don't trust this company with our Great Barrier Reef". GetUp!. 6 June 2014. Retrieved 13 January 2015.
  37. ^ "Adani's record of environmental destruction and non-compliance with regulations" (PDF). Greenpeace Australia. 10 March 2014. Retrieved 26 November 2014.
  38. ^ Sriram, R; John, Satish (25 November 2014). "Our business model is aligned with the national interest: Gautam Adani (interview)". The Economic Times. India. Retrieved 26 November 2014.
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