In September, Bloomberg
reported that the Indian billionaire briefly overtook Amazon founder Jeff Bezos
as the world's second-richest person. And now he is ranked 4th richest person
in the world (By Forbes magazine). But the main question is how Adani became so
rich in recent years, surpassing Reliance chairman Mukesh Ambani. Upon asking,
the sudden growth of this business Hemindar hazari a research analyst based in
Mumbai said, “The kind of rise that you have seen is truly phenomenal and
probably unprecedented in the world that in such a short time a single
individual has been able to acquire assets across industrial sectors and has
emerged as one of the largest billionaires in the world,”. Adani started out as
a diamond sorter in Mumbai and now chair of the Adani Group, one of the three
largest industrial conglomerates in India.
The Ahmedabad-based tycoon’s presence in India
Indian industry has also climbed steeply in the last year. Now that Adani Airports Holdings controls Mumbai and six other major airports, he serves the majority of Indian air travelers, and Adani Ports and Special Economic Zones owns India's largest SEZ Mundra as well as nine other ports.
Currently, Adani is trying to get his hands on in India’s
biggest oligopolistic market i.e. Telecom market which has competition like
Bharti Airtel, Reliance Jio and Vi.
Group firms stands at 21.14 lakh crores, over 21.04 lakh
crores for Tata Group.
Much of these diversification endeavours have been financed by debt.
Here’s a snapshot of the Adani Group’s key financial metrics.
|
Particulars |
Amount (in crore) |
|
Revenue |
₹1,84,810 |
|
Profit |
₹12,956 |
|
Debt |
₹2,18,271 |
Note:-As of march
2022
If the Adani
Group companies do not improve their profitability, financing this mammoth debt
could become a problem in the future.