Adani Group Stocks In Focus: Gautam Adani's Group Paid Rs 58,104 Crore Tax In FY24, Up By 25% YoY; Details

Adani Group Stocks In Focus: Billionaire Gautam Adani-backed power-to-energy empire has contributed a whopping Rs 58,104.4 crore worth of tax in the fiscal 2023-24, registering a surge of 25% year-on-year. In total, all its seven group-listed companies Adani Enterprises, Adani Ports and Special Economic Zone, Adani Green Energy, Adani Energy Solutions, Adani Power, Adani Total Gas, and Ambuja Cements have contributed to the exchequer significantly. The figure also includes the tax paid by three other listed companies-NDTV, ACC and Sanghi Industries-that are held by the seven companies.

In its latest release on February 23, Adani Group said, that for the financial year 2023-24, the Adani Group's total global tax and other contributions to the exchequer amounted to INR 58,104.4 Cr, showcasing a significant increase from the previous year's INR 46,610.2 Cr through its portfolio of listed entities.

Gautam Adani, Chairman of the Adani Group said, "Transparency is the foundation of trust, and trust is essential for sustainable growth."

He added, "As one of India's largest contributors to the exchequer, we recognise that our responsibility goes beyond compliance. It is also about operating with integrity and accountability. Every rupee we contribute to our nation's finances reflects our commitment to transparency and good governance. By voluntarily sharing these reports with the public, we aim to foster greater stakeholder confidence and set new benchmarks for responsible corporate conduct."

Through this voluntary initiative, the Group aims to demonstrate its commitment to transparency, foster stakeholder trust and contribute to a more accountable global tax environment, it said.

Further, it added, that Adani Group considers tax transparency as an integral part of its broader ESG framework. The group strives to harmonize growth with social responsibility, aiming to transform India's infrastructure landscape while promoting innovation and creating long-term value for stakeholders.

What is Adani's Tax Transparency Report (TTR):

Tax Transparency Report provides a complete breakdown of Adani Group's global tax and other contributions. It includes:

- Direct Contributions like global taxes, duties and other charges borne by Adani portfolio of companies

- Indirect Contributions like global taxes and duties collected and paid on behalf of other stakeholders

- Other Contributions like social security etc contributed for the benefit of the employees

Adani Group Stocks:

Adani Group stocks will be in focus on Monday, February 24, following the tax transparency report.

Adani Enterprises: Currently, the stock is at Rs 2,135.40 apiece on BSE. Adani Enterprises ended last week's session with a downside of 0.6%.

Adani Ports: Currently, the share price is at Rs 1,082.95 apiece. Adani Ports' overall weekly performance is up by 2.4%.

Adani Power: This power stock is at Rs 478.80 apiece. However, last week, the stock's weekly performance was down by 0.7%.

Adani Energy Solutions: At Rs 669.60 apiece currently, the stock's latest weekly performance declined by 3.6%.

Adani Green Energy: Currently at Rs 849.20 apiece, this green energy stock's weekly performance is down by 1.3%.

Adani Total Gas: The stock is currently at Rs 580 apiece, and rose by 1.3% on a weekly basis.

Adani Wilmar: This FMCG stock is at Rs 260.40 apiece, and last week, Adani Wilmar outperformed its sibling stocks by gaining over 10% on BSE.

Ambuja Cement: This cement player is currently at Rs 481.70, and its weekly performance is down by 1.2%.

ACC: Backed by Ambuja, ACC's share price is at Rs 1,882.70 apiece, and its weekly performance is up by 0.61%.

NDTV: The media stock is currently at Rs 131.50 apiece, and in a week, it zoomed by more than 3%.