The Adani group, which has constantly come under scrutiny over its business practices, has said that the group’s listed entities paid Rs 58,104 crore in taxes and other contributions to government exchequer in 2023-24, showing a 25% gain year-on-year.
The company claimed that it has paid Rs 46,610 crore in global taxes in the previous year. The information was released through what it called a 'Tax Transparency Report' for the financial year 2023-24.
The report covers the group’s listed entities—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.
The figure also includes the tax paid by three other listed companies—NDTV, ACC and Sanghi Industries—that are held by the seven companies.
"Transparency is the foundation of trust, and trust is essential for sustainable growth,” said Gautam Adani, Chairman of the Adani Group, in a media statement.
“As one of India’s largest contributors to the exchequer, we recognise that our responsibility goes beyond compliance. It is also about operating with integrity and accountability. Every rupee we contribute to our 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," Adani said.
The 'Tax Transparency Report' includes direct Contributions like global taxes, duties and other charges borne by Adani portfolio of companies; indirect contributions like global taxes and duties collected and paid on behalf of other stakeholders; and other Contributions like social security.
It says that the group has engaged a professional agency to provide an independent assurance report on its global contribution to the exchequer.
“By voluntarily disclosing information about its global tax contributions, the company strengthens its commitment to economic development, fosters stakeholder understanding, and builds trust through transparent tax practices,” the group said in a media statement.