Gautam Adani spoke on Hindenburg Report, said - there was a well-planned conspiracy to defame the group

Adani Group chief Gautam Adani has described the Hindenburg report as a conspiracy to defame the company. The report was prepared with false information to damage the reputation of the company and came out at a time when the group's flagship company Adani Enterprises was about to come up with the country's largest follow-on public issue (FPO).
In the Annual General Meeting of Adani Group, Gautam Adani said that this report was a combination of misinformation and allegations. Most of these allegations were from 2004 to 2015. All of them were disposed of at that time. The same report was brought out maliciously to harm and malign the reputation of the company at a time when we were about to launch our FPO to short our stocks.
Adani said that the balance sheet, assets, and cash flow of Adani Group are continuously getting stronger. The company's pace of new business acquisitions and new business launches is among the fastest in India. Our national and international partnerships reflect the parameters of our governance. Our international expansion in Australia, Israel, Bangladesh, and Sri Lanka stands testimony to this.
The financial performance of the company has set a new record in 2022-23. During this period, the company's EBITDA has increased by 36 percent to Rs 57,219 crore, while the income has fallen by 85 percent to Rs 2,62,499 crore. At the same time, PAT has increased by 82 percent to Rs 23,509 crore.
In early January, a report was released by the American short seller company Hindenburg, in which Adani Group was accused of manipulating the price of shares. This report was rejected by Adani Group.