Gautam Adani’s conglomerate has halved its revenue growth target and plans to hold off fresh capital expenditure, according to people familiar with the matter, as the Indian billionaire seeks to rebuild investor confidence in the wake of a bruising short seller attack.
The group will now aim for revenue growth of 15% to 20% for at least the next financial year, down from the 40% expansion originally targeted, said the people, who didn’t want to be named as the discussions are private. Capital expenditure plans will also be scaled down, they said, as the group prioritizes bolstering its financial health over aggressive expansion.
