The Adani Group has been recognized in TIME‘s World’s Best Companies of 2024 list, created in partnership with Statista, a global industry ranking and statistics portal.

What Happened: According to a media statement on Friday, the Adani Group, ranked 736, expressed their gratitude for the recognition.

“The Adani Group is honoured to be featured in TIME's prestigious World's Best Companies of 2024 list, prepared in collaboration with Statista,” read the statement.

The list results from a thorough analysis focusing on three critical aspects: employee satisfaction, revenue growth, and sustainability (ESG).

Surveys were conducted in over 50 countries, and around 1,70,000 participants assessed companies based on work conditions, salary, equality, and overall company image.

Companies with revenues exceeding $100 million in 2023 and demonstrating growth from 2021 to 2023 were evaluated. Additionally, companies were assessed based on standardized ESG KPIs from Statista’s ESG Database and targeted research.

See Also: Quant Mutual Fund Exits IRFC, Tata Steel In August, Enters ONGC, Oil India

Eight out of eleven listed Adani portfolio companies were included in the evaluation.

The recognized companies include Adani Enterprises, Adani Ports and Special Economic Zone, Adani Green Energy, Adani Energy Solutions, Adani Total Gas, Ambuja Cements, Adani Power, and Adani Wilmar.

Why It Matters: The recognition comes amid a series of significant developments for the Adani Group.

Recently, the conglomerate refuted claims by Swiss media outlet Gotham City, which alleged that Swiss authorities had frozen over $310 million in Adani’s bank accounts as part of an investigation into money laundering and securities forgery. The Adani Group dismissed these accusations as “irrational” and “absurd."

Furthermore, the Adani Group is aggressively expanding its footprint in the retail sector. The company has earmarked $1 billion to strengthen its food and fast-moving consumer goods (FMCG) business, Adani Wilmar. This includes plans to acquire three companies in the spices, ready-to-cook foods, and packaged edibles sectors.

Additionally, U.S.-based investment firm GQG Partners has significantly increased its holdings in the Adani Group, now valued at ₹61,898 crore. This move demonstrates strong investor confidence in the Gautam Adani-led conglomerate.

Read Next: RVNL Forced To Make Design Changes For Orange Line Metro Station Due To Pavement Encroachment

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Flickr