Adani companies tax contribution reaches Rs 58,104 Crore for FY 2023-24
Ahmedabad (India CSR): Reinforcing its commitment to governance excellence and stakeholder accountability, the Adani Group, a global leader in infrastructure development, has published its Tax Transparency Reports for the financial year 2023-24.
Significant Increase in Tax Contributions
For FY 2023-24, the Adani Group’s total global tax and other contributions to the exchequer reached Rs. 58,104.4 crore, reflecting a 24.6% increase from the previous year’s Rs. 46,610.2 crore. This significant growth underscores the group’s expanding economic footprint through its portfolio of listed entities.
Seven Listed Entities Publishing Reports
The independent reports have been published by seven of the group’s listed companies—
- Adani Enterprises Limited,
- Adani Ports and Special Economic Zone Limited,
- Adani Green Energy Limited,
- Adani Energy Solutions Limited,
- Adani Power Limited,
- Adani Total Gas Limited, and
- Ambuja Cements Limited.
Additionally, the report includes tax contributions from three other listed companies—NDTV, ACC, and Sanghi Industries—held by these seven entities.
Gautam Adani Highlights the Importance of Transparency
“Transparency is the foundation of trust, and trust is essential for sustainable growth,” said Gautam Adani, Chairman of the Adani Group.
He emphasized that as one of India’s largest contributors to the exchequer, the group’s responsibility extends beyond compliance. “Every rupee we contribute to the nation’s finances reflects our commitment to transparency and good governance. By voluntarily sharing these reports with the public, we aim to foster greater stakeholder confidence and set new benchmarks for responsible corporate conduct,” he added.
A Voluntary Initiative for Greater Accountability
Through this voluntary initiative, Adani Group seeks to reinforce transparency, build stakeholder trust, and contribute to a more accountable global tax environment. Tax transparency is an integral part of the group’s broader ESG framework. The initiative aligns with the group’s objective to harmonize business growth with social responsibility while driving innovation and creating long-term value for stakeholders.
Global Trend of Voluntary Tax Transparency Reports
With global tax regulations evolving, forward-looking companies are proactively publishing Tax Transparency Reports, even though it is not a mandatory requirement. These reports not only enhance credibility but also serve as a foundation for the highest standards of tax compliance and reporting.
Comprehensive Breakdown of Tax Contributions
The Adani Group’s Tax Transparency Report provides a detailed breakdown of its global tax and other contributions, including:
- Direct Contributions: Global taxes, duties, and other charges borne by Adani’s portfolio of companies.
- Indirect Contributions: Taxes and duties collected and paid on behalf of other stakeholders.
- Other Contributions: Social security and other employee-related contributions.
Independent Assurance for Transparency
To ensure accuracy and transparency, the group has engaged a professional agency to provide an independent assurance report on its global contribution to the exchequer. This assurance report is included in the Tax Transparency Reports, detailing various tax payments and the group’s approach to taxation. By maintaining transparency and integrity in tax compliance and reporting, Adani Group aims to build stakeholder trust and uphold responsible business practices.
Strengthening Commitment to Economic Development
By voluntarily disclosing its global tax contributions, Adani Group underscores its commitment to economic growth, fosters stakeholder understanding, and enhances trust through transparent tax practices. The detailed reports of each of the seven companies are accessible on their respective websites.
Adani Group’s Market Leadership and Commitment to Sustainability
Headquartered in Ahmedabad, the Adani Group is India’s largest and fastest-growing diversified business conglomerate. With interests spanning energy, utilities, transport, logistics (including seaports, airports, shipping, and rail), metals, materials, and consumer sectors, the group has cemented its leadership position in the market. Guided by its core philosophy of ‘Nation Building’ and ‘Growth with Goodness,’ the Adani Group prioritizes sustainable development and environmental stewardship. Through its CSR initiatives, the group actively contributes to community welfare, sustainability, and social progress.
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