The Adani Group, based in Ahmedabad, Gujarat, India, is a diverse conglomerate consisting of 10 publicly traded companies. Led by chairman Gautam Adani, it operates in various sectors including ports, airports, power generation and transmission, and green energy initiatives.
Adani Group is India’s biggest airport operator and also manages India’s largest seaport, Mundra Port, Additionally, the group also owns, the largest coal field, Carmichael coal mine located in Australia. In 2023, the market cap of the Adani Group stood at $166 billion, As of date, Gautam Adani’s net worth has reached $80.9 billion.
In January 2023, Hindenburg Research published a report accusing the Adani Group of stock manipulation and accounting fraud, precipitating a substantial decrease in Adani’s net worth.
Within just three days, Adani’s net worth plummeted from $126 billion to $98 billion, with further declines to follow. The report catalysed a steep decline in Adani’s wealth, resulting in billions being erased from his net worth. However, within a year, the group managed to recover close to its initial valuations.
Here are the Adani Group stocks that have delivered returns of up to 4800 percent since the 2019 general elections.
Adani Enterprises Ltd
Adani Enterprises Ltd., a part of the Adani Group, is involved in various sectors, including coal mining, cargo handling, power generation, and trading in products like textiles, energy, metals, and agricultural products.
Adani Enterprises Ltd. is a parent company of various subsidiaries involved in diverse sectors such as airport operations, edible oils, road and rail infrastructure, data centres, solar manufacturing, defense, aerospace, cement, and more.
Adani Enterprises shares have gained nearly 2000 percent from ₹146 per share to current levels of ₹3,197 per share.
On March 28, Adani Enterprises Ltd. shares closed at ₹3,197 per share, up 2.40 percent from the previous close price on the National Stock Exchange.
Adani Enterprises has experienced substantial growth in its annual revenue, with a compound annual growth rate (CAGR) of 36 percent, soaring from ₹40,379 crore in FY2019-20 to ₹1,36,978 crore in FY23-24.
Additionally, the company’s net profit has also exhibited significant growth, with a CAGR of 48 percent, increasing from ₹506 crore to ₹2,422 crore over the same period.
Adani Green Energy Ltd
Adani Green Energy Limited is engaged in the business of renewable energy power. It is India’s largest and the world’s leading renewable energy solutions partner enabling the clean energy transition. AGEL develops, owns, and operates utility-scale grid-connected solar, wind, and hybrid renewable power plants.
Adani Green Energy currently has an operating renewable portfolio of 8.4 GW, the largest in India, spread across 12 states, offsetting over 41 million tonnes of CO2 emissions cumulatively. The company has set a target of 45 GW by 2030 aligned to India’s decarbonisation goals.
Adani Green Energy shares have gained nearly 4,800 percent from ₹37.15 per share to current levels of ₹1,835 per share.
On March 28, the Adani green shares closed at ₹1,835 per share, up 0.69 percent from the previous close price on the National Stock Exchange.
The company has seen a significant increase in its annual revenue compound annual growth rate (CAGR) of 40 percent, rising from ₹ 2,058 crore in FY2019-20 to ₹ 7,792 crore in FY23-24. Simultaneously, the company’s net profit has also shown growth, escalating from a loss of ₹475 crore to a profit of ₹973 crore during the same period.
Adani Ports & Special Economic Zone Ltd
Adani Ports & Special Economic Zone is in the business of development, operations and maintenance of port infrastructure and is also linked to a multi-product Special Economic Zone (SEZ) and related infrastructure contiguous.
Adani Ports shares have gained 250 percent from ₹378 per share to current levels of ₹1,342 per share.
On March 28, Adani Ports shares closed at ₹1,342 per share, up 1.44 percent from the previous close price on the National Stock Exchange.
Adani Ports experienced a notable surge in its annual revenue compound annual growth rate (CAGR) of 18 percent, climbing from ₹10,925 crore in FY2019-20 to ₹20,852 crore in FY23-24. Likewise, the company witnessed an 8 percent growth in its net profit CAGR, increasing from ₹4,045 crore to ₹5,393 crore over the same period.
Adani Power Ltd
Adani Power Ltd. is a thermal power producer in India with a significant power generation capacity of approximately 12,450 MW across various operational power plants in states like Gujarat, Maharashtra, Rajasthan, Karnataka, Chhattisgarh, Madhya Pradesh, and Jharkhand.
Adani Power shares have gained 970 percent from ₹48 per share to current levels of ₹534 per share.
On March 28, the Adani Power shares closed at ₹534 per share, up 3.34 percent from the previous close price on the National Stock Exchange.
The company has seen a significant increase in its annual revenue compound annual growth rate (CAGR) at 13 percent, rising from ₹ 23,884 crore in FY2019-20 to ₹ 38,773 crore in FY23-24. Simultaneously, the company’s net profit has also shown growth, escalating from a loss of ₹984 crore to a profit of ₹10,727 crore during the same period.
Adani Total Gas Ltd
Adani Total Gas Limited is in the business of developing city gas distribution (CGD) networks for a continuous supply of piped natural gas (PNG) and compressed natural gas (CNG). The company is co-promoted by the Adani Group and TotalEnergies.
Adani Total Gas Ltd. shares have gained 610 percent from ₹128 per share to current levels of ₹927 per share.
On March 28, the Adani Total gas shares closed at ₹927 per share, up 0.73 percent from the previous close price on the National Stock Exchange.
Adani Total Gas Ltd. experienced a noteworthy surge in its annual revenue compound annual growth rate (CAGR), reaching 26 percent, as it climbed from ₹1,719 crore in FY2019-20 to ₹4,378 crore in FY23-24. Concurrently, the company witnessed a 25 percent increase in its net profit CAGR, which rose from ₹229 crore to ₹546 crore over the same period.
Adani Energy Solutions Ltd
Adani Energy Solutions Ltd is primarily involved in the transmission and distribution of electricity, providing end-to-end energy solutions in India. The company operates a significant network of transmission lines and substations, with a focus on power generation, transmission, and distribution (GTD) business for Mumbai City and Mundra distribution.
Adani Energy Solutions Ltd. shares have gained 370 percent from ₹218 per share to current levels of ₹1,027 per share.
On March 28, the Adani Energy shares closed at ₹1,027 per share, up 1.17 percent from the previous close price on the National Stock Exchange.
Over the fiscal years spanning from 2019-20 to 2023-24, Adani Energy Solutions Ltd has experienced notable growth in its annual revenue compound annual growth rate (CAGR), surging by 16 percent from ₹7,305 crore to ₹13,293 crore.
Similarly, the company has witnessed a robust increase in its net profit CAGR, rising by 23 percent from ₹559 crore to ₹1,281 crore over the same timeframe.
Written by Omkar Chitnis
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