Adani Group

CONTENTS

1) Introduction 2) History 3) Milestones 4) Business drivers 5) Awards and recognition 6) The organization 7) Leadership 8) Companies of ADANI GROUP 9) Company¶s philosophy on corporate

governance 10) Competitive strength and outlook on opportunities 11) Social activeness 12) Our understanding

CONTENTS

1) Introduction 2) History 3) Milestones 4) Business drivers 5) Awards and recognition 6) The organization 7) Leadership 8) Companies of ADANI GROUP 9) Company¶s philosophy on corporate

governance 10) Competitive strength and outlook on opportunities 11) Social activeness 12) Our understanding

INTRODUCTION Founded in 1988 the Adani Group has grown from being a trading house to a diversified and dynamic business group with interests from infrastructural development to FMCGs.   A leader in international trading and infrastructure development, the Adani Group is engaged in a continuous Endeavour to maximize potentialities by synergizing the multiple businesses of the Group creating optimum business model. The Group has made foray into high growth sector like Power, Infrastructure, Global Trading, Logistics, Energy and is recognized for creating benchmarks for others to follow« the group is the operator of largest private port in India, The group is the developer of largest multiproduct SEZ in India, The group have the largest edible oil refining capacity in India, and we are one of the largest trading houses in India. The group is committed to constantly deliver good returns to its stakeholders and convert partnerships into winning combination.

Vision To be an entrepreneurially driven enterprise ± Thinking innovatively in all aspects of the business, from technological to commercial. To be intensely competitive in whatever we do, by constantly bettering the benchmarks set by us. To be a globally preferred business associate - an entrepreneurial organization having responsible concern for employees, society, the ecology, and stakeholder value. Strive to generate optimum value for all our associates through constant innovation and adoption of universal best practices and improving upon all those touches points that directly impact the business. To be a responsible concern ± We shall harmonize all our actions and reactions, with the global environment and actively work to reduce our environmental load

Mission To assimilate knowledge, develop capabilities and manage collective enterprise to profitably tap global commercial advantages for the benefit of stakeholders.

Gr oup Values From inception three values have driven all the activities of the Adani Group. They are central to our operations worldwide and will continue to be at the core of all our  businesses.

Tr ust - We will deliver on all our promises - our word is our bond. Cour age - We will support our decisions and actions with conviction. Innovation

- We will think laterally and never fight shy of embracing big ideas .

History

The Adani Group, despite a humble beginning in 1988, is one of the fastest growing professionally owned enterprises in India and in the global arena. The flagship company, Adani Enterprises Ltd. (formerly known as Adani Exports Ltd. ), was established by Mr. Gautam S Adani in 1988 as a partnership firm with a seed capital of  Rs. 5 lacs. An entrepreneurial vision coupled with lofty ambitions and hard work set the pace for the growth of the company. Adherence to world-class quality standards and a customer centric approach has helped the Adani Group touch revenues of INR 262 billion (as on March 31, 2009.) The journey from a being a India¶s most trusted trading house to a diversified conglomerate is fast, yet memorable. Today, the Adani business portfolio is a diverse, yet profitable assortment of Edible Oil, Logistics, Power Generation, Coal, Oil and Gas Exploration, Gas distribution, Real Estate, Ports, Special Economic Zones and IT enabled services. Its growth has been organic leading to a synergy among its business units, making them more productive and competitive together.

Milestones 

The company has successfully completed foreign currency convertible bond issue USD 250 Mn for its business expansion plans. Company successfully launches the IPO for Mundra port and Special Economic Zone which oversubscribes by 115 times.



The company has received prestigious reorganization of ³Five Star Expor t House´ on account of valuable contribution in country¶s overall exports. Sales turnover has crossed Rs.13,500 Crores during FY 2004-05. The company has successfully completed foreign currency convertible bond issue of USD 38 Mn and proved its global reach.

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The company has crossed Rs.7155 Crores sales turnover mark. Successfully disinvested its stake of Mundra Container Terminal to P & O Ports, Singapore.

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Introduction of new products like Iron Ore, Power Trading, Maize, Sesame Seeds, Sorghum, Barley etc.  2001

& 2003

 Actual worth at Rs 550 Crs. During FY 2002-2003 Company has achieved turnover of Rs. 2873 Crs as against Rs.2188 crs for FY 1998-99 (a 30 % growth). Becomes the top net foreign exchange (NFE) earner of the country. The largest private sector player awarded with prestigious award of ³Golden Super Star  Trading House´.  1999

& 2000

declares a 1:1 bonus. Market capitalization of the company rises beyond Rs 1710 crs in wake of its scrip price touching Rs 775.60 per share (as on June 09, 2000), subscribers to the IPO see money growing by 1966 per cent in just 5 years. During FY 1999-2000 Company has achieved all time high turnover of Rs. 2853. 11 crs as against Rs.2188 crs for FY 1998-99 (a 30 % growth).

 1998

and Beyond: Per iod of Consolidation

turnover leaps to Rs 2,418.6 crs for the FY 1997 ± 98. Expands its trade basket, at present trades in more than 4 0 commodities and in 28 countries. Becomes the top net foreign exchange (NFE) earner of the country and the largest private sector Super Star Trading House in India. Jetty at Mundra Port becomes operational.  1994

± 1997: Per iod of Gr owth

 1997

Super Star Trading House status extended for another 3 years, unto 31st March, 2000, in spite qualification limits for this status being substantially enhanced.  1996

Turnover crosses the coveted Rs 1,000 cr level; at Rs 1,134.6 crs for the FY 1995 ± 96. Declares a 1:1 bonus in November, 1996; paid up capital increases to Rs 11.02 crs. hits the primary market in September  1994 with its initial public offering (IPO ) of 12.50 lakh equity shares of Rs 10 each at a premium of Rs 140 per share aggregating Rs 18.75 crs ; float oversubscribed by more than 25 times.  Accorded the status of ³Super Star Trading House´ on April 1, 1994 by the Ministry of  Commerce, Government of India; the youngest trading house and the only one from the State of Gujarat to have been granted this status.  1988

± 1993: The Initial Year s

Converted into a public limited company on 2nd March 1993 with a paid up capital of Rs 1 Crore.  Accorded the status of ³Star Trading House´ on April 1, 1993 by the Ministry of  Commerce, Government of India. Conceived as a partnership firm by Gautam S Adani with an initial capital of Rs 5 lakhs, posts a modest turnover of Rs 2.20 crs in the first year of its operation.

Business Dr iver  Str ategic Vision and Global Reach 

Large diversified & integrated conglomerate with strong international credentials.

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Leadership position in the industry

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Business intelligence & domain knowledge

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Global clientele, with sound repeat business

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Partnerships with world¶s best sourcing bases

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Memberships in leading policy making bodies

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First mover advantage in falling trade barrier.

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Moving from traditional trading business to value enhancement through asset creation.

Awar ds & Recognition. The Adani Group stands tall as one of the largest trading houses of India, a fact duly recognized through the prestigious ³Five Star Expor t House´ status conferred by Govt. of India.           

Leading trader of coal, wheat, doc, castor oil, sulphur, petrochem products, power trading, iron ore, pulses etc. Awarded the status of export house in 2004 Niryat Shree Gold Trophy (2004-05) Niryat Shree Gold Trophy (2003-04) Awarded as ³Five Star Export House´. ICSI award for Excellence in Corporate Governance, ¶04 among the Top 25 Companies Awarded the ³Golden Super Star Trading House´. Ranked 38th in Business Standard¶s list of 1000-India¶s Corporate Giants (2003) SOPA Award (1999-00, 2000-01, 2001-02) Gold Trophy, SRTEPC (1999-00, 2000-01) FIEO¶s Niryat Shree Gold Trophy (1999-00)

The Or ganization Or ganisation Str uctur e

y y y y y

y

Formal 3-tiered Governance structure Board of Directors Corporate Management Committee Executive Committee Value creation in businesses through EVA Strategic business review meets Quarterly / Half yearly / Yearly basis

y

Quantified target setting & linking to rewards

y

Strong process orientation through SOPs

y

Investment in futuristic IT infrastructure

The Leader ship Gautam S. Adani is the Company¶s Executive Chairman and founder of the Adani Group. He has completed his education up to matriculation. He has over 2 0 years of  varied experience in business and trading with Adani. He is responsible for the Company¶s new business initiatives and strategic plans. Under his leadership, Adani Group has emerged as a diversified conglomerate with interests in international trading, infrastructure development, power generation and distribution, development of special economic zones, gas distribution, trading and business process outsourcing. He has been instrumental in the diversification of the Adani Group into the power sector. Rajesh S. Adani is the Managing Director of the Company. He holds a bachelor¶s degree in commerce from the Gujarat University. He has been associated with Adani Enterprises Limited since its incorporation. He is in charge of day to day operations of  the Company and has been responsible for developing the business relationships of the Company. He also handles the marketing and finance aspects of the Company. Vasant S. Adani is a Non-Independent and Non-Executive Director of the Company. He holds a bachelor¶s degree in Arts. Vasant S. Adani looks into the administrative aspects of the Adani Group. He has more than 25 years experience in management and real estate development. Amr atlal C. Shah is an Independent Non-Executive Director of the Company. He holds a doctorate in economics and has over three decades of banking experience and has served as the chairman and managing director of Bank of Baroda. Dr. Shah has also served on the board of various reputed companies, such as UTI Bank Limited, Reliance Capital Limited, Jet Airways Limited, S. Kumar Nationwide Limited, Elecon Engineering Company Limited, Gujarat Petro Synthesis Limited, Goldcrest (India ) Limited and Gujarat Lease Finance Limited. Dr. A.C. Shah has also chaired several committees on banking, the most recent one being the RBI Committee on the functioning of NonBanking Finance Companies.

Pr avin P. Shah is an Independent Non-Executive Director of the Company. He is a chartered accountant and has a doctorate in Finance. He is a partner of the chartered accountants firm, Pravin P. Shah & Co. and is the proprietor of the chartered accountancy firm, Pravin P. Shah & Associates. Dr. Shah has over 4 0 years of  experience in areas of financial consultancy, taxation, valuation, property matters, accounting, auditing, corporate laws and FEMA. He has also authored seven books on costing, management strategies, billion dollar companies and taxation.

Shah is an Independent Non-Executive Director of the Company. He holds degrees in commerce and law. Jay H. Shah has been with the Company since its inception. He has wide experience of the Indian petrochemicals sector. Jay H.

 Yoshihir o Miwa is an Independent Non-Executive Director of the Company. He holds a master¶s degree in commerce. He has wide experience in Commercial Science and Business Administration. He is also the chairman of Kowa Company Limited, Japan. Anil Ahuja is an Independent Non-Executive Director of the Company. He holds bachelor¶s degree in Mechanical Engineering from Indian Institute of Technology (IIT), New Delhi and a Post Graduate Diploma in Business Management from the Indian Institute of Management (IIM), Ahmedabad. He has more than 2 0 years of experience in international financial services. Anil Ahuja is one of the earliest private equity investors in India, with over  10 years of investment experience. In the past, he has worked with 3i Group Plc., JP Morgan Partners Asia and Citibank, Mumbai.

Companies of  Adani Gr oup

Adani Enter pr ises Ltd. (AEL) Adani Enter pr ises Ltd. (AEL) is the flagship company of the Adani Group. Accorded the status of a ³Five Star Tr ading House´ by Directorate General of Foreign Trade, New Delhi, AEL is the first company to receive such a prestigious status in India.

Though based out of Ahmedabad, India, AEL has operations across the globe. 70 commodities. 60 countries. 30 offices, including 8 overseas offices in USA, UAE, China, Singapore, Indonesia, Mauritius and Myanmar. AEL is truly a diversified asset backed commodities trader, sourcing, producing, marketing and transporting them across the globe.  AEL started out as a partnership firm in 1988, and attained joint stock company status in 1993. AEL¶s IPO in 1994 was oversubscribed 25 times over, a sign of the immense trust that shareholders and the market placed on it. Its trade desks handle a diverse and voluminous product portfolio with expertise. Through time-conscious delivery, qualitydriven process systems, complete reliability and uncommon levels of commitment to customer satisfaction, AEL gained success and a rock-solid reputation in markets around the world. On one hand, AEL has achieved the critical mass needed to carry out sizable transactions demanded by its global clients, while on the other; it maintains the entrepreneurial drive that has given it an edge in Asia and Europe. From a single commodity company, AEL, today, has evolved into a brand representing a wide range of commodities and services.   AEL aims at creating multiple drivers of growth anchored on its time-tested core competencies: unmatched distribution reach, superior brand-building capabilities, effective supply chain management and acknowledged service skills.  AEL has systematically de-risked its commodity trading portfolio to avoid pressure on its margins by venturing into asset backed commodity trading. AEL¶s strategic forays into new businesses have garnered a significant share of these emerging high-growth markets in India. Today, the Adani Group has a diversified presence in five business sectors: Power, Oil & Gas, Real Estate, Agr o & Metals and Miner als. The Shipping business acts as the backbone to its various businesses, exemplifying the required cohesiveness of knowledge based enterprise and a people driven entity.

COMPANY'S PHILOSOP H Y ON CORPORATE GOVERNANCE  Adani Enterprises Ltd. (AEL) being a flagship Company of Adani Group is committed to the adoption of best Corporate Governance Practices and their adherence in the true spirit, at all times. The core values that drive your Company's business are: * Accountability : Towards our stakeholders and society for our acts and decisions. * Excellence : Strive relentlessly and constantly improve ourselves in our offerings. * Legacy : Strong legacy and roots of stringent corporate governance principles that strives us to conduct our business fairly, with honesty and transparency

Competitive Str engths and Outlook on oppor tunities Diverse portfolio of businesses The Company maintains a diverse yet integrated portfolio of commodities in its three primary business segments, which offer an array of products and services in multiple markets. The Company's diversified range of products and services has enabled it to generate revenues throughout periods of volatile commodity prices and demand fluctuations. The Company has also established diversified sourcing and distribution networks across its business lines to provide protection against market disruption. The Company believes that its industry expertise, acquired across the breadth of its businesses, provides it with insights and market intelligence that enable it to more effectively capitalize on and manage risks associated with opportunities across all its markets. Scal able and

flexible business model 

The Company has demonstrated an ability to leverage its existing infrastructure and expertise to expand its product platform, geographical coverage and market presence. The Company is principally focused on the sourcing, marketing, processing and distribution of raw materials and has, to date, limited its investments in downstream and upstream assets. The Company believes that this has enabled it to expand, and to enter  businesses on an opportunistic basis, while limiting its exposure to any specific market or product. In addition, the Company has grown its revenue through recruitment of new product teams which it believes has enhanced its customer base.

Well positioned in t argeted geogr a phi cal markets and produ ct  s The Company believes that it is increasingly becoming a leader within its key markets, largely due to its ability to link its customer relationships with its expertise in selected geographical markets, products and its logistics services. For example, the Company believes that it has become one of India's largest non-producing providers of coal, metal scrap, agro-commodities and industrial raw materials. The Company has extensive Indian logistical resources, including captive rail and port infrastructure, as well as extensive international experience sourcing and transporting a variety of commodities. The Company believes that these resources are enabling it to become a leading market participant in its targeted markets, enabling it to leverage its global commodities sourcing network to provide its customers with value-added services.

G lobal

infr astru ct  ure and sc ope

The growth of the Company's operations has created access to new markets and enhanced its access to new sources of industrial and agricultural raw materials. The sources and markets its products globally and, consequently no geographic market accounts for more than a quarter of the Company's sourcing or turnover totals. The Company's broad geographical presence enables it to closely monitor and respond to global supply and demand imbalances; identify opportunities for strategic investments to support its global diversification strategies; and enhance its supplier substitution capabilities. S trong

goodwill and c ustomer rel ationships

 An emphasis on client service has enabled the Company to build what it considers to be strong goodwill in the Company's markets. The Company believes the ³Adani´ brand has come to signify timely delivery of high quality industrial and agricultural products and value-added services to its customers. The Company believes that its goodwill and reputation represent important intangible assets, which enable it to gain access to new markets, attract and retain key personnel, expand into new product areas and develop strong customer relationships. Business S tr ategy 

The Company's strategic objective is to continue to build on its position as a leading trading house with a growing asset base, while building its capabilities in the infrastructure and power sectors

Mundr a Por t and Special Economic Zone Limited (MPSEZ) India¶s largest private port and special economic zone, was incorporated as Gujar at Adani Por t Limited (GAPL) in 1998 to develop a private port at Mundra, on the west coast of India. The company commenced commercial operations in October  2001. Mundr a Special Economic Zone Limited (MSEZ) was incorporated in November 2003, to set up an SEZ at Mundra. MSEZ was merged with GAPL in April 2006. The company was renamed as Mundra Port and Special Economic Zone Limited, to reflect the nature of business. Mundra Port provides cargo handling and other value-added port services. Mundra SEZ is India¶s first port-based multi-product SEZ.

Bunker ing  AEL is a registered bunker supplier for the Mundra port in Gujarat. AEL has leased one floating barge with an approximate capacity of 3, 000 metric tonnes, which is used to refuel large vessels anchored off the Mundra port. In order to extend our bunkering business in various ports of India, we have formed a joint venture in Singapore with Chemoil Energy Limited whereon we have 50% equity participation.e efforts to tap the opportunities in the said sector. The Company has been successful in grabbing an increasing market share in export and import of grains and pulses.

Adani Logistics Limited (ALL)  Adani Logistics Limited (ALL) provides integrated logistics solutions for movement of  commodities. Towards its mission, Adani has secured an all-India license to manage container train operations on Indian Railways. In order to provide pan-India multi-modallogistics services,  Ad ani Logisti cs   Limited, has developed the facilities for movement of goods in containers by train, road and sea. ALL is also developing logistics parks for  providing various ground facilities, including aggregation, warehousing, holding, inspection, custom bonding, stuffing/de-stuffing of Export import (EXIM) and Domestic cargo, and loading/unloading onto railway wagons.  Adani Logistics offers comprehensive end to end logistics solutions for handling a wide range of cargo including containers, break bulk dry and liquid cargo, perishables and project cargo, in the form of full train load, full container load and less than container  load. ALL is already operating regular train services from Rajasthan and National Capital Region to Mundra and JNPT(Mumbai), Chennai by deploying the fleet of six rakes. Additional rakes are being inducted by the year 2009.  ALL encourages other train operators to commence their operations from Adani Logistics Parks (ALP) to improve frequency of service to gateway ports and in turn facilitate EXIM trade.

Adani Gas  Adani Gas is a wholly owned subsidiary of the Adani Enterprise Ltd (AEL ) and was incorporated for setting up distribution network in various cities to supply natural gas to industrial, Commercial, Domestic and CNG Customers. The company has forayed into the business of Gas Distribution Business with an objective of providing safe, convenient, reliable and environment friendly fuel.  Adani Gas has already set up a Gas Distribution Network in GUJARAT : Ahmedabad and Vadodar a HARYANA : Faridabad Gas distribution for Industries, commercial establishments and residences in these cities has ushered in a new era of cost-efficient and environment friendly fuel.  Adani Gas has received NOCs to develop City Gas Distribution networks to repeat the similar success stories in UTTAR PRADES H : Noida, Lucknow & Khur   ja, and RAJASTHAN : Udaipur and Jaipur .  Adani Gas has already initiated the infrastructure development in these cities to meet the fuel needs of industrial, domestic, commercial & Transport sectors.

Real Estates The Indian real estate sector is on a strong growth path, led by rising GDP, improving demographics, growing affordability, increasing impact of IT/ITES and organised retail sectors, supported by strong FDI and portfolio inflows. The unprecedented demand has driven the need for organised sources of funding, creating µinvestability¶ and has led to the emergence of real estate as a sustainable asset class. The office space in India is also far lower when compared with international peers like Hong Kong and New York. Integr ated Townships The group has taken up an integrated township development in Ahmedabad projected as "Shantigram". The location of the Township shall be on S G Highway approximately 10 Km away from Thaltej Circle towards Gandhi Nagar.

will be the one of the largest and most modern futuristic township of its kind. The township project shall involve the development of Residential and Commercial Spaces. ³Shantigr am´

Recr eation  Ultra Modern Hotels  Restaurants  Food Courts  Multiplex Cinema Halls  Entertainment Zones  Performing Art Centre with Multiple Auditoriums  Museum  Padestrian Market Place Spor ts & Leisur e  Lush Green Golf Course  Athletics Field  Cricket Ground  Tennis Courts  Multisports Field  Swimming Pool  A Club house  Club & Gym  Jogging & Cycling Track  Green Park Walking

Pr ivate Constituents

 ultra modern Apartments  Individual Bungalows  Commercial Space for Offices, Corporate Houses, Shopping Malls, Entertainment, Restaurants, Hotels, Hospitals, Recreation etc. Public Constituents

        

Primary and High School facilities Two Advanced Education Institutions Hospitals Petrol Pumps A Large Green Park for the community A Large Artificial Lake A Botanical Garden & Nursery Religious Temples Fire Brigade & Ambulance Service

Commer cial & Residential Developments

Mumbai is a commercial capital of India and is the sixth largest metro in the world.  As a result, Mumbai offers a plethora of employment opportunities and this in turn has led to an increase in its population from 12.5 million in 1991 to 16.4 million in 2 001. With scare residential space to cater to an ever increasing population and dwindling commercial area in the event of enhanced economic activity, Mumbai realty prices have hit the roof. To capitalize on this segment, Adani Enterprises through its 95% owned subsidiary has identified two properties in Mumbai.

Bandr a Kur la Complex

The site is located in International Finance & Business Centre (IFBC ) in Bandra-Kurla Complex (BKC) and is in the close vicinity of some of the most prestigious commercial developments in BKC. The subject site is located opposite ICICI Bank and IL&FS buildings and is in the vicinity of the ONGC colony. BKC has locational advantage with proximity to important commercial areas such as  Andheri, Maharashtra Industrial Development Corporation (MIDC) complex and Santa Cruz Electronic and Export Promotion Zone (SEEPZ) lying in its close vicinity. Moreover, it is located in the heart of the city and connectivity to Western Express Highway and other airports make it a highly preferred location for commercial purpose. The subject site is accessible from the MMRDA Road as well as C.S.T Road in Kalina. The subject site can be accessed by all major roads from South and Central Mumbai. BKC has developed as one of the most sought prime commercial micro-market in Mumbai after the Central Business District (CBD) in Nariman Point. It is expected to become the secondary central business district (CBD) of Mumbai due to the factors like the quality infrastructure, availability of land by MMRDA, established companies, road width, easy accessibility, etc. Khatau Mill Land

 As per order of Board for Industrial & Financial Reconstruction (BIFR) dated 22nd February 2007, Khatau Makanji Spinning & Weaving Mills Ltd. (KML ) has been demerged and the properties pertaining to Byculla and Borivali with the resulting company i.e. Swayam Realtors and Traders Ltd. (SRTL). Adani group holds 60% shareholding of SRTL.

The Property is located at two places: Byculla

The subject property is located off N.M.Joshi Marg near Byculla Station. Bor ivali

The subject property is located adjoining Ekta Meadows off Western Express Highway on Borivali (East). It is in close proximity of Thakur Complex and nearly 5 minutes from Borivali station and Magathane Bus depot. The re-development of erstwhile defunct mill lands in Central Mumbai is going to mitigate the dearth of quality real estate in Mumbai. The supply of corporate office space from mill lands is expected to have a significant impact on the subject property site and proposed development.

Adani Power Limited Adani Power Limited , a subsidiary of Adani Enterprises Limited, is developing number  of power projects along with its dedicated transmission station system. Presently, Adani Power Limited is setting up a 462 0 MW Mundra Thermal Power Station in following stages:  Stage 1: 660 MW  Stage 2: 660 MW  Stage 3: 1320 MW  Stage 4: 1980 MW

 APL is presently executing 400 KV D/C transmission line of about 43 1 KM distance from Mundra to Dehgam.   APL is also executing 500 KV Bi-Pole HVDC transmission line of about 800 KM distance from Mundra to Haryana for transmitting 2500 MW. Adani Power Mahar ashtr a Limited (APML), a 85.89% subsidiary of Adani Power  Limited is implementing 1980 MW Thermal Power Station in following stages:  Stage 1: 1320 MW  Stage 2: 660 MW

Agr o Commodities Tr ading

India is one of the world¶s largest food grains producers, the second largest vegetable producer and rice producer, making it one of the world¶s agricultural powerhouses. With global agricultural trade on a sustained rise coupled with robust economic growth across the world, the Agro sector has number of trade opportunities in its offing, which is an important contributor to India¶s growth story. India also produces significant quantities of oil seeds, in spite of this; it is one of the leading importers of edible oil. Indian demand for edible oil is likely to remain an important source going forward giving increased avenues of investment in this sector. The total food production in India is likely to increase substantially in the coming years which will throw enormous opportunities for large scale investments in food and food warehousing, logistics management and processing.   Adani Enterprises is one of the leading trading houses in agro commodities. Adani's  Agro commodities business is focused on trading in various Agro products in India and internationally, including grains, pulses, castor and soya. Adani Enterprises has emerged as a leading importer of pulses. The company is present in every aspect of  trade of bulk agro commodities from importing, selling domestically to exporting and doing third country trade. Global agricultural trade is projected to rise given the expanding agri output in a number  of countries in line with a robust economic growth across the world. Excellent export prospects, competitive pricing of agriculture products and standards that are internationally comparable has created trade opportunities in the agro industry. Driven by the consumption and production disparity in the agro sector, Adani Enterprises has made efforts to tap the opportunities in the said sector. The Company has been successful in grabbing an increasing market share in export and import of  grains and pulses.

Fr uits

& Vegetables

Despite being the second largest producer of fresh fruits and vegetables, the country is a virtual non-entity on the world trade map in terms of the global trade volumes. Due to lack of post-harvest management facilities, absence of suitable cold stores and the lack of an organized distribution system, the wastage of fresh produce in India is as much as 25-30%. To capitalize on this segment, Adani Enterprises through its 100% owned subsidiary ´Adani Agri Fresh Ltd´ has taken the lead in developing such an integrated storage, handling and transportation infrastructure for fruits and vegetables in India. This will enable the company to provide consistent quality of branded fruits and vegetables all the year round. The company will be employing µControlled Atmosphere Technology¶ for  increasing the shelf life of fruits. Distribution centers will be set up across India, complimented by setting up its own logistic cold chain to increase efficiency of the system. The Company has set up Controlled Atmospheric Storage units at three locations (Rewali, Sainz, Rohru) in Himachal Pradesh with a capacity of around 18,000 MT. Each Site has been constructed with 7 Blocks of 6 Chambers totaling to 42 chambers at each location. The strategy is to concentrate on products that are produced far from major  consumption centers, are seasonal in nature and are amendable to increase in storage life using modern integrated cold chain facilities. This would enable the company to leverage on its logistics strength while at the same time take advantage of controlled atmospheric storage technology to arbitrage on the price differential between peak and off peak season. Initially the project would be focused on apples and would then diversify into other  products. The fruits and vegetables which are proposed to be preserved will be apple, banana, grapes, lime, litchi, mango, mosambi, pineapple, papaya, brinjal, bitter gourd, green chillies, peas, cabbage, cauliflower, ginger, garlic, etc.

Agr o Supply Chain Globally, movement of major food grains like wheat, for domestic consumption or  exports, is done in an integrated fashion in bulk right from farm gate to port or  consumption centre. This helps to reduce multiple handlings and associated high wastage and pilferage, which typical exists in developing countries like India. In order to reduce storage and transit losses of foodgrains and to bring additional resources through Private Sectors participations., Govt. of India had announced a National Policy on Handling Storage and Transportation of Foodgrains in June, 2004 for  Bulk and conventional godowns. Adani Agri Logistics Ltd. (100% subsidiary of AEL) was awarded the contract for setting up two such facilities one each at Moga and Kaithal in Harayana, as it emerged as the most competitive bidder for which global tenders were invited.  Adani Agri Logistics Ltd. is responsible for development and operation of bulk food grain handling, storage and transportation facilities under BOO arrangement for FCI. AEL has developed vertical silos to store grains and movement in bulk in top loading/ bottom discharge wagons. This is a national level project created first time in India. The Project envisages following activities: y y

y y y

y

Design, finance, construct, operate and maintain Base Depots and Field Depots Receive grains from FCI at the base depots, weigh them, clean them store them and transport them either by rail or road. Receive in bulk by rail, handle, store and preserve the grains at the field depots and, thereafter, load these grains in bulk/bags for transportation by rail or road Construct and maintain rail and road access from the depots of the circuit to the nearest rail and road networks. Develop, procure and own on its cost Special Bulk Food grain

Edible Oil   Adani Wilmar Limited is a 50:50 joint venture between two recognized Multinational Corporations ± the INR 275 Billion (US $5 Billion ) Adani Group, the leader in International trading, Power Sector and Private infrastructure, and Wilmar International Limited, Singapore, Asia¶s leading Agri business group with revenues exceeding US $16.5 billion.   Adani Wilmar Ltd.'s flagship brand For tune has been repositioned with a new mantra of 'Joy of  Eating'. The objective of this exercise is to craft a unique value proposition for the brand. Fortune, which has maintained its market leadership for last 7 years, hope to further strengthen its market share with this re-positioning. To cater to the burgeoning middleclass, core of Indian consumer market, AWL introduces King's range of refined oils. It will have under its portfolio, Soya, Sun, Refined Mustard and Cottonseed oil. Coming from the house of Adani Wilmar, coupled with the planned 360 degree Marketing Support, King's is set to be the king of its own turf.  AWL also has as part of its edible oil portfolio, Bullet brand mustard oils and a coconut oil under the brand name Ivory, a Refined Palmolein Oil under the brand name of Raag Gold, a premium vanaspati brand called Raag, special frying oil called Fryola and Speciality Fats under brand name Jubilee Master chef .

Adani Welspun Explor ation Limited (AWEL)  Adani Welspun Exploration Limited (AWEL) is a joint venture (JV) company between  Ahmedabad based Adani Group and Mumbai based Welspun Group to undertake upstream oil & gas business. In this JV, Adani Group holds 65% through its flagship company Adani Enterprises Limited (AEL), while Welspun Group holds 35% through Welspun Natural Resources Pvt. Ltd., a subsidiary of its flagship company Welspun Gujarat Stahl Rohren Limited (WGSRL). AEL & WGSRL are listed on various Stock Exchanges. Business Activity:

 AWEL had successfully won two onland exploration Blocks with majority shareholding (90%) in NELP-VI bid round, one in Cambay Baisn (CB-ONN-2004/5) and the other in  Assam-Arakan Basin (AA-ONN-2004/4). AWEL was awarded another Block in Mumbai offshore (MB-OSN-2005/2), close to Tapti fields, in NELP-VII bid round, where the company is the operator with 100 % working interest. AWEL has two more concessions (L39/48 & L22/50) with 100 % operating interest in onshore Thailand. Recently, AWEL has been awarded an offshore Block (Block 5) in Gulf of Suez, Egypt in consortium with GSPC.  AWEL has a strong and experienced management and technical team in place and has already built a prospective portfolio of onshore, offshore and international assets. AWEL aims to be a medium sized Oil & Gas company with exploration & production assets globally.

SOCIAL ACTIVENESS

 Adani Foundation was established in May 1996. Situated in Ahmedabad, it is a part of  the prestigious Adani Group and looks after the Corporate Social Responsibility related activities of the Group, which has now become synonymous with creating wealth for the people. Adani Foundation was established with the vision to ³accomplish passionate commitment to the social obligations towards communities, fostering sustainable and integrated development, thus improving quality of life". We began in a small way by working with a few rural communities around our Port at Mundra. Through its grant, the Foundation supports efforts in the development of society, in areas of Rural Livelihoods & Communities, Education, and Health. Besides institutional grants, the Foundation also makes individual grants for education and medical relief. The Foundation is registered as a NGO and operates in Gujarat with major focus in Kutch & Ahmedabad. This year, it will expand to other locations in the country. The Foundation is active in four major areas for all sections of the society: y y y y

Medical Education Rural Development Charitable & General

Activities at Ahmedabad The Ahmedabad office holds the secretariat of the Foundation. The activities which are directly managed by the Ahmedabad Office are:  A. Medical 1. Medicines prescribed by the hospitals/ specialists a provided free of cost to 290

patients including 52 HIV positive patients. 2. Financial assistance was provided to patients for surgeries, and critical diseases, looking to the severity of the cases. 3. Financial Assistance to peer groups: Shree Rajrajendra Suri Charitable Trust, Surat was given financial support worth Rs 11 Lakhs towards setting up a new dispensary in Surat for the under-privileged.

B. Education 1. Scholar ship Scheme: This scheme is meant for all children who secure more than 70% marks in aggregate and are from Below Poverty Line strata. 46

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meritorious students availed these scholarships applicable from 5th standard onwards up to professional courses. 9+2 Scheme: We helped 88 students under this scheme, wherein, nine months tuition fees and two term fees were paid directly to the educational institutions. Vidya Sahay: This scheme enables/make feasible quality education accessible to needy associates of the Adani Group & to mitigate the hardship in educating their children on account of the high cost of education. Under this scheme 83 children availed Vidya Sahay amounting. Adani Vidya Mandir : ³SUCCESS IS NOT TRUE UNLESS IT IS SHARED´, believing in this philosophy Adani Foundation has set up ³Adani Vidya Mandir´ school to impart quality education & good facilities to under-privileged meritorious students totally free. This will enable them to fulfill their dreams and aspirations. The school was formally declared open on 12th June 2008. From this year, Class III and IV are operational. A total of  140 students have taken admission in the school through an entrance test held in the months of April & May. Financial Assistance to peer gr oups: Banaskantha Kelavani Mandal was given financial support worth Rs. 25 Lakhs towards construction of a new school. Jay Parsvanath Education Trust was given financial support worth Rs 5 Lakhs towards construction of new classrooms at Dholka, Ahmedabad. o

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Shree Navchetan Andhjan Mandal was given support worth Rs 25 Lakhs towards construction of their new campus in Kutch Shree Yagkshem Foundation for Human Dignity, Ahmedabad was given financial assistance of Rs. 2 Lakhs towards their work on Human Rights

Adani DAV Public School, Mundr a

The results of Class X and XII have been very encouraging. Krishna Yogesh Shah secured highest 93.2% in her Class X board exams. The school again repeated its 100% results in Class X, Class XII Commerce and Class XII Science since the first batch of Class X appeared in 2004. The total enrollment in the school this year is 137 making a total of 7 01 students with 44 teachers. This makes the teacher student ratio of  1:16 which is very high compared to other schools where the average is 1:35. Rur al Development Activities at Mundr a, Kutch: In Mundr a, Adani Foundation has set up a team for addressing various issues for the rural community. We work in three core areas; Education, Health and Livelihood Education: y

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20 volunteers completed their duties as teaching assistants in primary schools of  Mundra Taluka for the academic year of 2007-08. They also underwent training of Sarva Shiksha Abhiyan (SSA). These Education Volunteers also implemented Meena Communicative Initiative aimed at Gir l Child Education and Child¶s Rights Crafted new role and responsibilities for Education Volunteers with consultation from UNICEF and District Primary Education Officer for the academic year of  2008-09 Prepared a model for School Health Corner. 40 group schools of Mundra and Mandavi Talukas are provided with Model Health Corner Kit consisting of full size mirror, 5 napkins, 6 combs, 6 nail clippers, Height measuring Scale and posters for creating health awareness.  A.F. also assisted in distributing textbooks to schools. Training session with volunteers  A.F. Team participated in School Enrolment Drive of current year  45 schools have been identified for Educational Inputs with emphasis on Girl Child Education and Quality of Education.

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Mobile Dispensary is rendering services to 24 villages and three labour colonies and has treated 2513 patients in April and 2403 patients in May 2 008 absolutely free. Medical camp at Zarapara port colony where 94 patients got free treatment Specialty camps/ Gynaec camps were organized at Tunda, Baroi and Deshalpar  village as well as at APL and Samudra labour colonies. Over 2 00 women got treatment for various gynaec ailments for which they would not have gone anywhere unless it gets very serious. Dr. Chitra Bhatnagar- M.D. (Ob.Gy.) rendered her services on a voluntary basis. Life Skill Education Talk followed with question answer session with students and teachers of Adani DAV School with Dr. Chitra Bhatnagar  In collaboration with Government Community Health Center vaccination and ante- natal care is provided at labour colonies namely at Samudra Township and Mithani¶s Colony on Tuesdays of the month. Pre- monsoon health awareness programme conducted at various labour  colonies Demonstration of chlorination of water along with material supply carried out at various labour colonies HIV/AIDS awareness talks at Indra security and Samudra Township

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Group meetings with Cattle Owners at Mangara for low cost cattle shed for  reducing wastage of fodder   Awareness Night Camp with Veterinary Dr. Prakash Modi at Goersama and Shekhadiya benefiting 64 cattle owners¶ families Continue implementation work of Samaghogha Check Dam on Phot river under  Sardar Sahabhagi Jal Sanchay Yojana. 80 % construction is over. Total cost of  this dam is rupees fifty lacs approx. Bhumi Pujan for starting implementation of Vaghura Check Dam on village river  Support in construction of 126 individual toilets at Wanki village. We came across many touching stories such as- Ratanben Aahir who came to village Wanki 30 years ago following her wedding to a village man. Not having toilet in the house was very disturbing and never could get over the overwhelming feeling of shame and embarrassment. To top this, her fate put her in even more difficulties and drudgery as her husband met with an accident and was partially disabled. Now she had to carry his excreta for disposal in open out side village everyday. Now with toilet in the house we could see tears of happiness and relief.  A.F. team participated in Krishi Rath Programme of Government of Gujarat in Mundra Taluka. Public recognition was given to our efforts in the areas of Total Sanitation Campaign, Animal Husbandry and Agriculture and water saving devices

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Concluded six weeks training for Diesel Engine Maintenance with partial funding from NABARD under Skill Development Initiative. Two trainees have already been selected for placement. Three to four have continued with their own workshop with more vigor. Follow up for more placements and entrepreneurship continues. We have submitted two more proposals under Skill Development Initiative to NABARD.

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Dr. Pritiben G. Adani signed Memorandum of Understanding for Technical Support with UNICEF. WASMO has agreed to support us in our efforts towards Total Sanitation Campaign and school hygiene sanitation programme We have expanded our team by recruiting six community mobilizers with graduate and post graduate degrees in relevant education streams and of total work experience. We have also recruited project officers/ programme specialists for Health and Animal Husbandry and other livelihood activities Team leader visited Dahej and Tiroda sites for assessing and exploring the possibilities of CSR activities in those areas. A person to look after Dahej site has been short listed.

Activities at Gur gaon

 A blood donation camp was organized at ADANI House, Gurgaon, in coordination with Red Cross Society, India. A total of 57 units of blood were donated by equal numbers of  volunteers for the noble cause of saving lives of people.