- By Aditya Pratap Singh
- Mon, 24 Feb 2025 09:28 AM (IST)
- Source:JND
Adani Group News: Adani Group, which has businesses ranging from ports to power, on Sunday said group companies paid Rs 58,104 crore in taxes in 2023-24, up from Rs 46,610 crore in the previous fiscal. The taxes paid include global taxes, duties and other charges borne by Adani Group companies, indirect tax contributions and duties collected and paid on behalf of other stakeholders, and other charges such as social security contributed for the benefit of employees.
The group led by billionaire Gautam Adani has released its tax transparency report for the financial year 2023-24 (April 2023 to March 2024).
"For financial year 2023-24, Adani Group's total global tax and other contributions to the exchequer amounted to Rs 58,104.4 crore, showcasing a significant increase from the previous year's Rs 46,610.2 crore through its portfolio of listed entities," it said in a statement.
These details were published in independent reports published by seven listed companies in the group - Adani Enterprises, Adani Green Energy, Adani Ports and Special Economic Zone, Adani Energy Solutions, Adani Total Gas, Adani Power and Ambuja Cements.
The tax paid by three other listed companies in these seven companies - NDTV, ACC and Sanghi Industries - also belongs to this figure.
“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," said Gautam Adani, Chairman of Adani Group.
The statement said that through this voluntary initiative, the group aims to demonstrate its commitment to transparency, build stakeholder confidence and contribute to a more accountable global tax environment.
"Adani Group considers tax transparency as an integral part of its broader ESG framework. The group strives to harmonize growth with social responsibility, aiming to transform India's infrastructure landscape while promoting innovation and creating long-term value for stakeholders," it added.
As the global tax environment is entering a new era, forward-thinking companies are voluntarily issuing tax transparency reports, although it is not mandatory.
Through the report, such companies seek to attract the attention of more and more stakeholders and gain greater credibility, as well as lay the ground for the highest standards of tax transparency.
The Tax Transparency Report provides a complete account of the Adani Group's global tax and other contributions. Adani said it has hired a professional agency to provide an independent assurance report on its global contribution to the exchequer.
"By emphasizing transparency and integrity in tax compliance and reporting, the group aims to build trust with stakeholders and demonstrate its commitment to responsible business practices," it said.
"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 report said.
(With Inputs from PTI)