Adani Enterprises Limited · NSE:ADANIENT
Adani Enterprises — Corporate Update (January 2023)
19 slides from Adani Enterprises's corporate update, Jan 27, 2023
Slide 1: Exchange filing cover letter: response to Hindenburg Report
27th January, 2023 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange plaza, Dalal Street, Bandra-Kurla Complex, Mumbai – 400001. Bandra (E), Mumbai – 400051. Scrip Code: 512599 Scrip Code: ADANIENT Dear Sir / Madam, Sub: Presentation covering Adani Group’s response to Hindenb
Slide 2: Adani Portfolio Overview: Myths of Short Seller
Adani Portfolio Overview Myths of Short Seller January 2023
Slide 3: Table of Contents
Table of Contents 1 Adani Portfolio Overview & Executive Summary 2 Governance Status 3 Credit Status 4 Loan Against Share - Status 5 Accounting and Audit Structure 6 Regulatory Interface 7 Public Disclosure Status
Slide 4: Executive Summary
Adani Portfolio: Hindenburg Questions & Assertions Executive Summary • 21 Question’s (RPT & Court Cases) are nothing but Adani Portfolio’s own public disclosure from as far back as 2015 ( See Slide 17) • Accounting (or fraud type assertions) “investigation” devoid of facts. Of Adani portfolio’s 9 pu
Slide 5: Adani Portfolio Overview
1 Adani Portfolio Overview STRICTLY CONFIDENTIAL
Slide 6: Adani: A World Class Infrastructure & Utility Portfolio
Adani: A World Class Infrastructure & Utility Portfolio ~USD 222 bn1 Combined Market Cap Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C Materials, Metal & Incubator Energy & Utility Transport & Logistics Direct to consumer Mining (72.6%) (60.8%) (74.2%) (65.1%) (100%)
Slide 7: Governance - Status
2 Governance - Status STRICTLY CONFIDENTIAL
Slide 8: Adani Portfolio: ESG FY2023 - Achievements
Adani Portfolio: ESG FY2023 -Achievements Action on Climate • Emission intensity • AEML achieved 18% • 4 Mn CO2 avoided till • 650 Kw capacity • Mumbai Airport: First Change reduction of 43% renewable in power date Rooftop solar airport in India to from the base year mix • Committed to SBTi installe
Slide 9: Credit Status
3 Credit Status STRICTLY CONFIDENTIAL
Slide 10: Adani Portfolio: Credit Ratings
Adani Portfolio: Credit Ratings Quality of EBIDTA Mix International Ratings Mar 2013 Mar 2016 Sep 2022 International Rating Listed Entities Global Ratings Agencies 1% Baa3/BBB-/BBB- 47% 50% APSEZ Moody’s/S&P/Fitch 43% (Outlook – Stable) 19% 17% 2% 38% 7% Baa3/BBB- 1% ATL/RG’s Moody’s/Fitch 36% (Outl
Slide 11: Loan Against Share Status
4 Loan Against Share Status STRICTLY CONFIDENTIAL
Slide 12: Deleveraging at promoter in a high growth phase
Adani: deleveraging at promoter in a high growth phase % Promoter Gross Pledge position 58% 54% 50% 38% 37% Primary Change driven by paydown 28% 17% 18% 17% 16% 13% APSEZ 13% 12% ATL 6% 7% 6% 4% 7% AEL 4% 1% 1% 4% 3% 3% AGEL 31-Oct-19 31-Mar-20 31-Mar-21 31-Mar-22 30-Sep-22 31-Dec-22 Growth funded b
Slide 13: Accounting and Audit Structure
5 Accounting and Audit Structure STRICTLY CONFIDENTIAL
Slide 14: 8 of 9 listed Companies has a Big 6 Auditor
Adani Portfolio: 8 of 9 listed Companies has a Big 6 Auditor Listed Entity Statutory Auditor Remarks Adani Ports & SEZ Deloitte Haskins & Sells The Statutory Auditor before the rotation was SRBC & Co. (E&Y) Adani Power SRBC & Co. (EY) The Statutory Auditor before the rotation was Deloitte Haskins &
Slide 15: Corporate Regulatory Interface
6 Corporate Regulatory Interface STRICTLY CONFIDENTIAL
Slide 16: 6 of 9 listed Companies independent regulator interface
Adani Portfolio: 6 of 9 listed Companies independent regulator interface Listed Entity Concessionaire/Regulator Remarks Adani Ports & SEZ Yes, Various State Maritime Gujarat Maritime Board, in its capacity as a Concessionaire, (GMB) has a nominee director on the board of APSEZ Boards Adani Power CER
Slide 17: Public Disclosure Status
7 Public Disclosure Status STRICTLY CONFIDENTIAL
Slide 18: Hindenburg Questions & Assertions
Adani Portfolio: Hindenburg Questions & Assertions 1. Hindenburg asked 89 question in Total, the following Question by number: 1,2,3 5,6,7 19,20,21, 27,28,29 62,63,64 and 72,74,75,77,78,79 are in relation to Related party transactions, DRI (Directorate of Revenue Intelligence) and court cases 2. 21
Slide 19: Thank You
Thank You