Greetings! We live in interesting times. India continues to be the worlds fastestgrowing economy. We are expected to become the worlds fth largest nation by the endof this year. Our country is expected to see an investment of a trillion dollars ininfrastructure split evenly between public and private sector resources and is on its wayto becoming a ve trillion dollar economy over the next
India at an Inflexion Point
In the recent elections the mandate received by the Government is an indication thatthe citizens of our country have voted for stability in support of a vision that addresseslarge segments of the society in a fashion and scale that will radically changeIndias development trajectory. In an analysis published earlier this year the WorldEconomic Forum predicted that India would have lifted 2.5 crore more households out ofpoverty over the next decade thereby reducing the share to households below the povertyline to 5%. For a size of our country these are staggering statistics and a harbinger ofhope and optimism for the entire nation. Undoubtedly there will be challenges and not allprograms may get executed to perfection but there cannot be any denying the fact that theambitions of our nation are taking shape in a fashion that is transformative and excitingand India is at an inflexion point.
The Transformation of the Adani Group
For the Adani Group FY18-19 has also been a year of inflexion. Each one of our sixpublicly traded Group companies delivered record financial performance and made tangibleprogress in further consolidating their positions as industry leaders in every segment weoperate in. Every one of the Group companies are now growth platforms that while mutuallyindependent draw upon the management and leadership synergies that exist in the Group.
India - Increasingly a gas based economy
Natural gas is globally recognised as the transition fuel of the future. It is thefastest growing energy source second only to renewable energy. In line with the series ofstrategic reforms have been rolled out across the country over the past 5 years thePradhan Mantri Ujjwala Yojana is a path-breaking government scheme to introduce cleanerLPG fuel to over 7 crore underprivileged homes. Therefore the opportunity to introduce acleaner cooking and fuel alternative to millions of Indians is a responsibility we aregrateful to be able to ful l.
Adani Gas - A memorable year
The synchronization of our timing of spinning out our gas business from AdaniEnterprises and the transition of India to a gas based economy could not have been better.We spun out our piped natural gas and city gas distribution business from AdaniEnterprises and listed it as an independent publicly traded business under the brand ofAdani Gas Limited. This business along with our power distribution and food businesspresents one of the deepest platforms to reach end consumers across our country therebyopening up potential for further leveraging B2C business opportunities.
Businesswise Adani Gas emerged as the largest private player to have won the highestnumber of licenses catering to 38 Geographical Areas which account for about 8% of thepopulation in India. We expect this momentum to continue as we integrate it into the LPGand LNG terminal business being nurtured as part of our ports business.
On the execution front our gas business is shaping up well as a result of proactiveadoption of technology-driven innovations advanced safety mechanisms and cutting-edgecustomer experience. The plans ranging from enhancing the network infrastructureintroducing flexible commercial models focusing on access-enabling technologies andstrengthening the supply chain integration with new terminals are all Significantdifferentiators that are being put in place to help drive the operational excellence theGroup is known for.
Environment Social Responsibility & Governance
Along with our focus on the financial and operational performance we are equallycommitted to continue to strengthen our corporate governance practices. In line withthis we have implemented a strict policy for related party transactions. To ensuretransparency that all transactions are arms length we will include assessments by internalbusiness teams review through an external agency and a due diligence by an ExecutiveCommittee consisting of Board of Directors. These steps are in addition to the existingregulatory requirements.
Adani Foundation continues to go about its business of making a difference to the livesof the various communities the Group touches. Our foundation initiatives now reach across18 states and 2250 villages and towns touching over 5 00000 families. Along with thegrowth of the business it is this goodness that makes our efforts meaningful.
Growth with Goodness
In closing I thank all our stakeholders for their continued support and conviction inour philosophy of Growth with Goodness. We are committed to continue our exciting journeyof growth with the support and guidance of our customers employees shareholdersbankers governments and the Board. We shall continue to remain an active contributor tonation building adding value to our product portfolio and exploring new opportunitiesthat contribute to the growth of our business and the nation.
Chairman - Adani Group