Adani Wilmar said that it has witnessed double-digit growth in both edible oils and foods businesses during the quarter, was driven by increased retail penetration.
While the company grew by strong double-digits in both edible oils and foods, a significant decline in the export business of animal feed dragged down the overall volume growth to 4% YoY in Q4FY24.In Q4, the segments revenue grew strongly by 18% YoY driven by strong domestic sales, despite the negative impacts of the continued export restrictions. In strong markets of edible oil, the Food segment is leveraging the outlet penetration to drive its growth.
The company benefited from the strong demand during the festive occasion of Holi and the ongoing wedding season.
In FY2024, in edible oils, branded sales grew at a faster clip at 15%, compared to the overall segment growth of 10% YoY. This is the second consecutive year with faster growth in the branded portfolio.
In FY2024, the Food & FMCG segment has achieved the milestone of 1mn MT of sales. In just two years segments revenue has nearly doubled to approximately Rs 4,700 crore. The revenue from branded products in the domestic market has been growing at 30% YoY or higher for the last ten quarters
Adani Wilmar is a provider of Edible Oil, Vanaspati, and Specialty Fats. The company offers soyabean oil, sesame oil, sunflower oil, cottonseed oil, groundnut oil, mustard oil, groundnut oil, and coconut oil, as well as vegetable ghee. The company is one of the largest FMCG companies in India.
The edible oil majors consolidated net profit declined 18.39% to Rs 200.89 crore on 16.9% fall in revenue from operations to Rs 12,828.36 crore in Q3 FY24 over Q3 FY23.
The counter fell 0.71% to settle at Rs 352 on Friday, 5 April 2024.
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