Gautam S. Adani, Chairman of the Adani Group, has issued a letter to shareholders of Orient Cement , addressing the Hindenburg report from January 24, 2023, and the recent dismissal of allegations against the Adani Group by the Securities and Exchange Board of India (SEBI). The letter, dated September 24, 2025, highlights the group's resilience and financial performance during a challenging period.

SEBI's Verdict and Group's Resilience

Adani emphasized that SEBI's recent verdict unequivocally dismissed the allegations against the group. He stated, "With SEBI's clear and final word, truth has prevailed or like we had always said सत्यमेव जयते (truth alone will prevail)." The chairman viewed this as a validation of the company's transparency, governance, and purpose.

Financial Performance and Growth

Despite the challenges, the Adani Group reported significant financial growth:

The group's portfolio EBITDA showed a two-year CAGR of 25.00%, while the Gross Block expanded by nearly ₹2 lakh crore in just two years.

Key Infrastructure Developments

Adani highlighted several transformative projects completed during this period:

• Commissioning of India's first container transshipment port at Vizhinjam
• Addition of 6 GW of renewable capacity, including the Khavda project, described as the world's largest single-location renewable project
• Commissioning of the world's largest copper smelter and metallurgical complex
• Expansion of the energy network with 7,000 circuit kms of transmission lines and 4 GW of new thermal capacity across India and overseas

Future Commitments

Looking ahead, Adani outlined three key commitments:

1. Further strengthening governance standards to inspire confidence across markets and regulators
2. Accelerating innovation and sustainability, aiming to set global benchmarks
3. Doubling down on nation-building investments in infrastructure to power India's long-term growth

Gratitude and Closing Remarks

The chairman expressed profound gratitude to investors, lenders, suppliers, and partners for their support during the challenging period. He concluded with a quote from Shri Sohan Lal Dwivedi, emphasizing resilience and determination: "The boat that fears the waves can never reach the shore, But those who keep on trying will win forevermore...."

Orient Cement Limited , a prominent player in the Indian cement industry, has announced its unaudited financial results for the quarter and half year ended September 30, 2021. The results, published in Business Standard and Utkal Mail newspapers on October 26, 2021, showcase a remarkable performance by the company.

Financial Highlights

Orient Cement has reported a significant surge in its net profit for the quarter ended September 30, 2021. The company's net profit jumped by an impressive 459% year-over-year (YoY), reaching Rs 205.40 crore. This substantial increase in profitability demonstrates the company's strong recovery and operational efficiency during the period.

Other key financial metrics for the quarter include:

The company's revenue saw a healthy growth of 23.68% YoY, reaching Rs 868.70 crore. This increase in revenue was accompanied by a substantial improvement in operational efficiency, as evidenced by the 81% YoY growth in EBITDA to Rs 184.80 crore.

Orient Cement's operating profit also witnessed a remarkable increase of 90.21% YoY, climbing to Rs 182.60 crore. This growth in operating profit outpaced the revenue growth, indicating improved operational margins during the quarter.

The company's earnings per share (EPS) for the quarter stood at Rs 10.00, representing a staggering 458.66% increase compared to the same period last year.

Operational Performance

The significant improvement in Orient Cement's financial performance can be attributed to various factors, including increased demand for cement, better pricing, and improved cost management. The company's ability to enhance its operational efficiency is reflected in the operating profit margin (OPM), which improved to 21.07% in the current quarter, up from 13.79% in the same quarter of the previous year.

Outlook

While the company has not provided specific forward-looking statements, the strong performance in Q2 FY22 positions Orient Cement well for the remainder of the fiscal year. The cement sector's growth is often linked to infrastructure development and real estate activity, which have shown signs of recovery post the pandemic-induced slowdown.

Orient Cement's robust financial results demonstrate its resilience and ability to capitalize on market opportunities. Investors and industry observers will likely keep a close watch on the company's performance in the coming quarters to see if this growth trajectory can be sustained.

As the Indian economy continues to recover and infrastructure projects gain momentum, cement manufacturers like Orient Cement are expected to play a crucial role in the country's development story.