gautam adani business, that power of Adani, which even Hindenburg could not shake, this company earned huge money even in crisis
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This company is a strength for Adani
Adani shares declined due to the Hindenburg report, but Adani Ports was the least affected. In difficult times, this company gave support to the Adani group, Kolbada. This company stood with strength in the midst of Hindenburg’s attacks. This company not only withstood Hindenburg’s attack strongly but also remained at the forefront of earning. This company made profits even in difficult times. Adani Ports has a big hand in Adani’s empire expansion. Especially in the 90s, this company contributed a lot to the growth of Adani Group.
How the business of Adani Ports started
Gautam Adani is the first businessman of his family. He ventured into the business world with a plastic factory and built the Adani empire within a few years. Today we will only talk about Adani Ports. After the assassination of Indira Gandhi, the command was handed over to Rajiv Gandhi. Rajiv Gandhi changed the import policy. Gautam Adani grabbed this opportunity without delay. In 1991, the country stepped on the path of liberalisation. PV Narasimha Rao’s government started liberalisation. At the same time, the Chimanbhai Patel government of Gujarat started allotting ports to private companies to promote privatization. Gautam Adani then hit the spot for a four. The government prepared a list of 10 such ports, which were to be allotted to private companies. The name of Mundra Port was also included in this list. This decision proved to be a big game changer for Adani. It would not be wrong if it is said that the real beginning of Adani’s empire took place during this period. In the year 1998, Gautam Adani was handed over the command of Mundra Ports spread over 8000 hectares.
overcome challenges and move forward
He got Westland land along with Mundra Ports. Such land was found, which used to go under water during high tides. They had to do reclamation to prepare this port. The cost of preparing that port was more than the original cost. However, Adani was not one to give up in the face of difficulties. After 10 years of hard work, today Adani’s Mundra Port is the largest port in the country. Adani Ports has 13 domestic ports. About a quarter of the country’s cargo moves through Adani Ports.
Ports command in son’s hands
Karan Adani, son of Gautam Adani, is in charge of Adani Ports. Adani’s Mundra Port handles the largest cargo of coal in the world. On the basis of advanced technology, this port of Adani operates 70 percent of the port trade from Middle East Asia, West Asia, Africa. Its earnings come from loading, unloading, store, delivery of goods coming from cargo. Adani has more than 24 warehouses near Mundra Port. Cargo ships from every corner of the world reach here from this port.
profits even in difficult times
Adani Ports supported Adani even in bad times. Adani Ports and Special Economic Zone (APSEZ) earned Rs 1315 crore in the October-December quarter of the current financial year. The net profit of Adani Ports was 1567 crores. The company’s revenue increased by 18 percent on an annual basis. After Hindenburg’s report, Adani Port’s shares also fell along with other Adani shares, but its decline was less as compared to others. Shares of Adani Ports fell up to 30 per cent, which was less than the fall in shares of other Adani companies. The pace of improvement in the stock of Adani Ports is also faster than other stocks.
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