Adani Enterprises Limited has informed the Exchange about General Updates regarding response to Wall Street Journal (WSJ) Article dated 2nd June, 2025
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Awaiting price reaction for this filing.
Adani Enterprises has issued a detailed rebuttal to a Wall Street Journal article that alleged links between Adani entities and Iranian LPG, suggesting possible sanctions evasion. The company called the story 'baseless and mischievous' and categorically denied any deliberate trade in Iranian-origin LPG or sanctions violations, stating it is unaware of any US investigation. Adani highlighted that its LPG segment generated only USD 171.2 million (1.46%) of its USD 11,727 million consolidated revenue in FY24-25, making it operationally non-material. The company detailed its compliance process, including OFAC sanctions list checks, KYC on suppliers, use of S&P Global's MINT platform for vessel screening, and contracts requiring non-sanctioned country origins. Adani also noted that the specific shipment cited by WSJ was routed through third-party logistics with Sohar, Oman listed as the port of origin.
This is a defensive communication addressing negative media allegations rather than a confirmed regulatory action, so direct impact on stock may be limited. However, investor sentiment could be affected in the short term due to reputational concerns, and further developments or any actual US investigation could change the picture.