04 Dec 2023, Edition - 3065, Monday
Driving a Legacy of Incubation and Value Creation: Pranav Adani
January 7, 2020
Business Wire IndiaMore than two decades before the start up sector burst into seams, one of India’s leading corporates was achieving several milestones by developing ideas with the potential to meet critical demand gaps in the world's most populous democracy.
A young industry champion quietly driving this transformation was Mr. Pranav Adani, eldest among the second generation leadership in the USD13bn Adani Group, founded by Mr. Gautam Adani in the late ’80s. As the Managing Director of Oil, Agro and Gas and a Director of the Adani Enterprises, the group’s flagship company, Pranav Adani shaped its overarching role as the ‘in-house incubator’ of the diversified conglomerate. Stellar assets such as Adani Ports and Special Economic Zones Ltd, Adani Power, Adani Transmissions, Adani Green Energy Limited, and Adani Gas Limited were all once a part of AEL (Adani Enterprises Limited) before they became independent entities delivering unprecedented value to its shareholders.
Among the businesses that continue to expand within AEL (Adani Enterprises Limited), he scripted the emergence of Adani Wilmar – the joint venture with the Singapore-based Wilmar Group. What started as a single-refinery edible oil business in 1999, is today a pan-India food company.
Grass roots of goodness
A sharp critic of India’s staggering wasted of food grains owing to inadequate storage infrastructure, Pranav Adani was one of the first few entrepreneurs to address the concern. Given its adverse impact on the nation’s food security and India’s appalling position on the World Hunger Index, the Adani Group introduced state-of-the-art grain silos which did not just help in cutting down food grain losses but eased the lives of hundreds of farmers. Adani Agri Logistics Limited handles 5, 75, 000 MT of food grain for FCI in the states of Punjab, Haryana, Tamil Nadu, Karnataka, Maharashtra, and West Bengal. Another 3,00,000 MT of food grain is handled for the government of Madhya Pradesh. Additionally, Adani Agri Logistics Limited has expanded its footprints in Bihar, UP, Punjab, Haryana, Maharashtra, and Gujarat with an upcoming capacity of 4,00,000 MT. Likewise, his keen interest uplifting the plight of apple farmers of Himachal Pradesh triggered a transformation in the hilly state. State-of-the-art Controlled Atmosphere (CA) facilities of 22636 MT created by Adani Agri Fresh Limited touch the lives of around 20,000 apple farmers across the apple growing belt of Bithal (near Rampur), Sainj (near Theog) and Mehandi (Rohru). The fully-automated delivery mechanism with refrigerated vans maintains the cold chain from our CA store to market thereby helping nearly 90% small and marginal farmers reduce post-harvest losses to a significant extent. The opportunity has also created breadwinners in 700-odd local households and much more indirect employment through allied industries such as packaging and transportation.
In Focus – Fueling a healthy energy strategy
Amidst India’s renewed focus to become a gas-based economy, Adani Gas Ltd. could be the largest City Gas Distribution (CDG) Company with its mandate of delivering healthier cooking gas to 38 Geographical Areas (Gas) which translates into nearly 8% of the population in India. This massive opportunity stems from Pranav Adani’s strong belief in the ‘transition fuel of the future’. With a Capex plan to invest around Rs. 8,000 Cr. over the next 4-5 years, AGL is likely to play a significant role in the government plan to improve the ratio of natural gas in India’s energy mix from 6% to 15%. This transformation would not just reduce India's oil import dependence but address three critical challenges such as widening current account deficit (CAD), burgeoning fiscal deficit and rising air pollution.