Adani Enterprises (India)

22 October 2024

🧠 Business Model (Expanded) Adani Enterprises is the flagship incubator of the Adani Group, building everything from airports and roads to data centers and green hydrogen. • Infra-first model: incubates new verticals and spins them off (Adani Wilmar, Adani Green) • Focus on airports, logistics, renewables, digital infrastructure

💰 Financials (FY23–24) • Revenue: ₹1.3 lakh crore • Net Profit: ₹2,400 crore • EBITDA growth: ~40% YoY

🧩 Strategy (Expanded) • Aggressive infra expansion (13 airports, 2 data parks) • Bet on India’s energy transition (solar, hydrogen) • Political-adjacent capital access = speed advantage

⚠️ Risks • High leverage across group companies • Public scrutiny post-Hindenburg report (2023) • Regulatory risk and capital market sentiment swings

🧠 Founder POV Adani’s empire was built not just on ambition, but on execution speed — and daring bets where few dared to look.

⚖️ Takeaway Sometimes risk appetite shapes markets before fundamentals do.

📎 Disclaimer: Not investment advice.