Adani Group Reports Nearly 25% Increase in Tax Payments, Reaching ₹58,104 Crore in FY24

The Adani Group announced that it paid a substantial Rs. 58,104 crore in taxes for the financial year 2023-24. This amount represents nearly a 25% increase from the previous year, when the diversified conglomerate contributed Rs. 46,610 crore in taxes to the central government.

The impressive tax figure includes contributions from the group’s ten publicly listed companies, such as Adani Enterprises, Adani Ports and Special Economic Zone, Adani Green Energy, Adani Energy Solutions, Adani Power, Adani Total Gas, and Ambuja Cements. Additionally, the figure also incorporates taxes paid by subsidiaries like NDTV, ACC, and Sanghi Industries.

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In a statement, the Adani Group expressed its commitment to transparency and integrity, highlighting its role as one of India’s largest contributors to the exchequer. The group stressed that their responsibility extends beyond mere compliance and is focused on operating with accountability and fairness.

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The Tax Transparency Report (TTR) offers a clear breakdown of the Adani Group’s contributions in different categories:

• Direct contributions: Taxes, duties, and charges paid directly by Adani Group companies.
• Indirect contributions: Taxes collected and paid on behalf of stakeholders.
• Other contributions: Social security and employee-related charges.

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To ensure accuracy, the group hired an independent agency to verify the reported tax contributions. This effort is part of Adani’s Environmental, Social, and Governance ( ESG ) framework, which aligns corporate growth with good governance standards.

The Adani Group, led by billionaire Gautam Adani, expressed that this voluntary tax initiative aims to demonstrate its dedication to transparency, foster stakeholder trust, and contribute to a more accountable global tax environment. The statement underlined that, even though releasing the Tax Transparency Report is not mandatory, forward-thinking companies are adopting it to align with the evolving global tax landscape.

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