Profit for the year 2021 – Rs 1045.

76 crores
Profit for the year 2022 – Rs 787.70 crores
Because of higher expenses incurred during the year 2022. High investment in Stock in
Trade.
Total Share Capital of the year 2021 – Rs 18910.01 crores
Total Share Capital of the year 2022 – Rs 26928.37 crores

Adani’s Performance under BJP rule:

1. Adani Group's Carmichael Coal Mine Project: The Adani Group's proposed
Carmichael coal mine project in Australia has been criticized for its potential
environmental impact and alleged violations of indigenous rights. The project
has received significant support from the Modi government, including a loan of
$1 billion from the State Bank of India. Critics have argued that this support is
indicative of crony capitalism and favors to Adani by the government.

2. Adani Group's acquisition of airports: The Adani Group has acquired several
airports in India, including six airports that were put up for privatization by the
Modi government in 2019. The acquisition has faced criticism from opposition
parties and some experts who argue that the process was opaque and lacked
transparency. Critics have also pointed out that the Adani Group was the sole
bidder for some of the airports, which raises questions about the fairness of the
process.

3. Adani Group's alleged tax evasion: The Adani Group has been accused of
evading taxes by overvaluing its power equipment imports. In 2014, the Central
Bureau of Investigation (CBI) registered a case against the Adani Group for
alleged overvaluation of equipment imports worth Rs. 5,500 crore ($750
million). The case was closed in 2015 by the CBI, citing lack of evidence.

4. Modi government's policy decisions in favor of the Adani Group: The Modi
government has been accused of taking policy decisions that favor the Adani
Group. For example, in 2016, the government allowed Adani to import coal
from Indonesia, even though the country had a surplus of coal. This decision
was criticized by environmentalists, who argued that it would lead to increased
carbon emissions and air pollution. The Modi government has also been
accused of allowing the Adani Group to set the price of natural gas in India,
which critics argue has led to inflated gas prices for consumers.

5. Alleged preferential treatment in airport operations: The Adani Group has

been accused of receiving preferential treatment in the operation of airports in
India. In 2019, the government awarded the Adani Group contracts to operate
six airports in the country, which had previously been managed by the
government-owned Airports Authority of India (AAI). Critics have alleged that
 the contracts were awarded without proper transparency and due diligence,
and that the Adani Group was given preferential treatment.

6. Alleged conflict of interest in the National Highways Authority of India (NHAI):

The National Highways Authority of India (NHAI) is a government agency that is
responsible for the development and maintenance of national highways in
India. The Adani Group has been awarded contracts for several highway
projects in the country, and critics have alleged that there is a conflict of
interest in the government awarding contracts to a company in which its own
officials have a stake.

7. Alleged conflict of interest in the National Infrastructure Investment Fund

(NIIF): The National Infrastructure Investment Fund (NIIF) is a government-
owned investment fund that was established in 2015 to finance infrastructure
projects in India. In 2017, the Adani Group was chosen as one of the fund's
anchor investors, and it subsequently invested $1 billion in the fund. Critics
have alleged that the Modi government had a conflict of interest in choosing
the Adani Group as an anchor investor, given the group's close ties with the
government.

8. Allegations of preferential treatment in port operations: The Adani Group has

been accused of receiving preferential treatment in the operation of ports in
India. In 2019, it was reported that the government had allowed the Adani
Group to handle a larger share of cargo at the Mundra Port than it was entitled
to. Critics have alleged that this decision was made to favor the Adani Group,
which is one of the largest players in the Indian port sector.

9. Adani Group's acquisition of land in Jharkhand: The Adani Group has been
accused of acquiring land in Jharkhand for a power plant at a fraction of the
market price. The land was allegedly acquired from tribal communities without
their consent, and at a price that was significantly lower than the government-
mandated rate. Critics have alleged that the Modi government, which has
emphasized the development of the tribal regions of India, has allowed the
Adani Group to exploit these communities for its own benefit.

10. Adani Group's involvement in the Rafale fighter jet deal: In 2018, the Modi
government signed a deal with French company Dassault Aviation to purchase
36 Rafale fighter jets. The deal has faced criticism from opposition parties and
some experts who allege that the Adani Group was given preferential treatment
in the deal. The Adani Group was chosen as a partner by Dassault Aviation to
fulfill the offset obligations of the Rafale deal, which required the French
company to invest 50% of the contract value in India. Critics have alleged that
the Adani Group was chosen as a partner without proper due diligence, and
that the government had favored the group in this decision.
PESTEL Analysis of Adani Enterprises

Political:
 Government Infrastructure Push: The Indian government's focus on infrastructure
development creates opportunities for Adani in sectors like ports, roads, and power.
Streamlined approvals and regulations could expedite their expansion plans.
However, changes in government or policy priorities could also impact their business.
 Public-Private Partnerships (PPPs): The government's increasing use of PPPs benefits
companies with experience in infrastructure projects, like Adani Enterprises. The
bidding process and contract terms are influenced by political decisions, and
potential favouritism towards certain companies is a concern for some.
Economic:
 Economic Growth: India's economic growth directly affects the demand for
infrastructure and energy, which are core sectors for Adani Enterprises. A strong
economy translates into higher demand for their services and increased profitability.
Conversely, an economic slowdown could lead to project delays and reduced
revenue.
 Interest Rates: Fluctuations in interest rates can impact Adani's borrowing costs.
Lower interest rates make it easier to finance projects, while higher rates can
increase debt burden and limit expansion plans.
Social:
 Urbanization: Rapid urbanization in India creates a growing need for infrastructure
development, which benefits Adani Enterprises. They can cater to the rising demand
for power, transportation, and urban infrastructure.
 Sustainability Concerns: There's increasing public concern about environmental and
social impacts of infrastructure projects. Adani Enterprises needs to adapt to stricter
regulations and adopt sustainable practices to maintain social license to operate.
Technological:
 Innovation in Infrastructure: Advancements in construction technologies, renewable
energy solutions, and digitalization can improve efficiency and reduce costs for Adani
Enterprises. They need to embrace these advancements to stay competitive.
  Disruptive Technologies: Emerging technologies like electric vehicles or alternative
energy sources could disrupt traditional infrastructure sectors that Adani Enterprises
operates in. They need to be adaptable to stay relevant in the long run.
Legal:
 Regulatory Environment: The regulatory environment for infrastructure
development, environment, and labor can impact Adani Enterprises' operations.
Stringent regulations can increase compliance costs and project delays, while lax
regulations might raise environmental concerns.
 Trade Policies: Government trade policies, including import duties on raw materials
or equipment, can affect Adani Enterprises' costs and profitability.
Environmental:
 Climate Change Regulations: As climate change concerns intensify, regulations on
carbon emissions and environmental protection could become stricter. Adani
Enterprises needs to invest in cleaner technologies and sustainable practices to
comply with these regulations.
 Resource Scarcity: Scarcity of resources like water or land for infrastructure projects
can pose challenges for Adani Enterprises. They need to explore sustainable resource
management practices.

By understanding these PESTEL factors, Adani Enterprises can develop strategies to capitalize
on opportunities, mitigate threats, and ensure sustainable growth in the long run.