Ahmedabad (Gujarat) [India], July 29 : Adani Wilmar reported a strong performance during the April-June quarter with its highest-ever net profit of Rs 313 crore, representing a yearly growth of 500 percent.
The Adani Group company also reported its highest-ever EBITDA of Rs 619 crore, up by 375 percent year-on-year, in the April-June quarter.
As per a company release, the rise in EBITDA was attributed to stability in edible oil prices. Edible oil registered strong volume growth of 12 percent year-on-year and surpassed 1 million tonnes during the quarter.
Food and FMCG sales crossed Rs 1,500 crore, with an underlying volume growth of 42 percent.
The company reported strong double-digit yearly growth of 12 percent in volume and 10 percent in revenue, leading to an overall revenue of Rs 14,169 crore.
The company continues to demonstrate strong sales performance, delivering substantial volume growth in both edible oils and food businesses during the quarter.
"Strong business momentum has led to increased market share in key product categories. In edible oils, the ROCP (Refined Oil Consumer Pack) market share of AWL increased by 60 bps YoY to 19.0 percent on a moving annual total (MAT) basis, whereas in wheat flour, the market share increased by 90 bps YoY to 5.9 percent. Additionally, branded export volume has surged by 36 percent YoY," Adani Wilmar said.
As a leading player in the mustard oil segment, the company has consistently expanded its market presence, driving robust growth amidst a fragmented market landscape.
Expanding on its brand strength, the business introduced specialised mustard oil packaging tailored for pickle enthusiasts, boasting an enhanced level of pungency. The company also launched 'Fortune Pehli Dhaar' (First Pressed Kachi Ghani Mustard Oil) to expand its range of premium products.
The oil is cold-pressed using the traditional wooden kolhu technique, ensuring exceptional taste and an unmatched aroma.
Sunflower oil continued to gain market share in South India due to regional interventions. The company said it is also engaging with health-conscious consumers through digital platforms for its Fortune Xpert oil.
In the rice business, the company is implementing several initiatives to drive robust growth. By utilising its distribution network, the business has expanded its presence in numerous outlets. The quarter saw good growth, bolstered by a successful promotional event in collaboration with a major retailer. Overall, rice volumes grew by 89 percent, supported by Government-to-Government business.
The Industry Essentials segment's revenue stayed flat at Rs 1,986 crore during the quarter, compared to the same period last year. While the oleo-chemicals and castor businesses witnessed strong double-digit growth, the segment's overall volume declined by 6 percent year-on-year, mainly due to a 22 percent drop in the oil meal business.
"We have delivered another strong quarter, with double-digit growth in both edible oils and Food and FMCG segments," said Angshu Mallick, MD and CEO, Adani Wilmar Limited.
"With our trusted brand, Fortune, we expect continued market share gains from regional brands. Our food products are making significant inroads into Indian households, and we plan to meet this large demand by enhancing our food distribution through our edible oil network," Mallick said.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor