Gautam Adani’s net worth is expected to increase as a result of the green energy stock | Whuff News


India’s richest man will find millions (of dollars) of reason to cheer this week.

Three of Gautam Adani’s six infra, energy and utilities businesses—Adani Ports & Special Economic Zones, Adani Green Energy, and Adani Enterprises—are reporting earnings this week. If the quarterly performance of companies in the same sector is any indication, Adani, already Asia’s richest man, is working to strengthen its position among the richest billionaire in the world.

Adani Port & SEZ, India the largest private port operator and end-to-end logistics providers, which account for 25% of cargo movements in the country, beat analysts’ expectations today (Nov 1) as trade volumes fully recovered from pandemic restrictions. The $40.6 billion renewable firm—is poised to deliver strong results tomorrow (Nov. 2) amid rising demand for alternative fuel sources. The the flagship of Adani Enterprisesmultibagger stocks that recently entered in the Nifty 50, India’s benchmark stock market index, reported its results on Thursday (Nov 3).

Promising start to Adani’s quarterly earnings, digit wise

13: ports Adani operates, including India’s largest Mundra

69%: year-on-year profit jumped to Rs1,677 crore ($203 million) in the quarter ended Sept. 30. 2020

33%: revenue surged to Rs5,211 crore ($631 million)

15%: increase in cargo volume

2%: an increase in stocks on strong earnings

Image for article titled A big quarter for energy stocks could make India's richest even richer

Image: Ananya Bhattacharya

Industries where Adani cashes in

Although it has been 25 years of continuous upward journey for the conglomerate, the chairman wealth has rocketed in the past year. Adani have a 62% interest in the Ports & SEZ business, and 75% stake in the rest—Adani Enterprises, Adani Power, Adani Transmissions and Adani Gas.

Shares of major has more than doubled since the start of the year, and Adani Power has quadrupled. Adani Green has become one the most valuable company in the country.

There are concerns about whether this meteoric success has legs to stand on or not. Ratings agency Fitch warned in August that Adani’s diversification bid came with a caveat: it is “very excessive” and on the brink of default, and while new business ventures are flush with cash, there are concerns about executive oversight.

The political goodwill Adani has amassed has helped it take advantage of lax regulations—think of its forays into airports that had nothing to do with Adani—but the debt-ridden business can collapse in on themselves in a long period of time. Even Adani’s golden green business that attracts domestic and foreign investors has yet to register a profit.

Adani’s $1 trillion green energy ambition

Having developed most of its wealth from fossil fuels and mining, the Adani Group is looking to invest more $150 billion across green energy, data centers, airports and healthcare as it harbors dreams of joining the big leagues of over $1 trillion companies. Currently, the cohort includes 5 US tech giants and Saudi Aramco-that all.

The group that got it early success in coal has seen success in green spaces already. Therefore, a large part of this funding corpus has been allocated for green hydrogen power and green energy at $50-70 billion and $23 billion respectively.

Its green efforts are spread all over the world. To name a few:

⚛️ In June, Adani said it would create the largest in the world green hydrogen ecosystem with French energy major TotalEnergies.

🏭The group has doing $70 billion for climate change and green energy, including building three giga factories that will extend from polysilicon to solar modules, complete wind turbine manufacturing and hydrogen electrolyser manufacturing

🇲🇦 Adani is looking to build wind and solar plants in the North African country of Morocco

🌞 It is making an investment of Rs65,000 crore over the next 5-7 years in Rajasthan to, among other things, build a Solar energy capacity of 10,000 megawatts

✍️ In early October, Adani Green established three subsidiary companies. The last set of earnings was promising with results surging on the back improved capacity and technology

A brief history of the Adani group

1980s: A college dropout, Adani worked as a diamond sorter and eventually started a fledgling diamond trading business.

1988: He established a commodity import and export firm, which would grow into the Adani Group—Adani held the title of founder and chairman of the Adani Group. Adani Enterprises, the largest entity in the group, is a incubators of all kinds where the various parts begin and grow up to them turn around when they can support themselves.

1994: Adani Enterprises is listed on BSE and NSE

1998: Adani ventured into the port business, starting with Mundra Port in its home state of Gujarat, where India’s prime minister Narendra Modi is also from

2007: Adani Ports & SEZ IPO

2009: IPO of Adani Power Limited

2015: Adani Green incorporated

2018: Separation of Adani Green Energy and Adani Gas

2020: Adani jumped into the airport business, starting with six airports

2022: IPO Adani Wilmar, which produces edible oil, wheat, pulses and more; acquisition of cement maker Holcim for $10.5 billionAdani Group’s largest acquisition

Where does Adani’s net worth rank compared to other billionaires?

The earnings results come as Adani reclaims its position over Amazon founder Jeff Bezos as the world’s third-richest person, according to Forbes wealth tracker.

At more than $130 billion, Adani’s fortune is behind that of LVMH’s famous French businessman Bernard Arnault. of $20 billioneven holding for a while second place in September. The world’s richest man, Elon Musk, is way ahead with $223 billion.

Adani’s recent ascent is courtesy Indian stock markets outperformed Street Wall. Of course, it helps that Amazon poor holiday forecast crippling Bezos’ fortune. But there is a stronger reason that helped the 60-year-old Indian tycoon to rise from 14th position which it holds at the beginning of 2022: a growing conglomerate whose market share has grown 16 times in seven years to reach $220 billion, and more targeted, a string of profitable green investment.

Person of interest: another Indian mega-billionaire, Mukesh Ambani

Adani isn’t the only Indian businessman obsessed with all things green energy and profit. he locked in a renewable race with Mukesh Ambani of Reliance Industries who, with an estimated net worth of $89 billion, came in eighth place Forbes real-time billionaire index.

Reliance has been trying to switch to green hydrogen since before Adani stepped into the ring but the latter has been quick to catch up. Both look at the various business cases for meeting green energy needs including the growing demand for renewable and supportive government policies in India and compliance with ESG (environmental, social and governance) factors.

But for all their green impulses, both businessmen does not release coal recently.

Related stories

🍀 Gautam Adani plans to invest $100 billion in green energy over the next decade

💝 Asia’s richest man is also India’s seventh largest philanthropist

👊 India’s renewable energy sector is about to witness a clash between two of the country’s richest men



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