Adani sees growth in food, edible oils segments

Revenue doubles in two years to reach Rs 5,000 crore in FY 24

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Adani
The food & FMCG segment reported a revenue of Rs 1,341 crore in Q4 FY24

Adani Wilmar’s food and fast moving consumer goods (FMCG) segment has witnessed growth in its edible oils and foods business, with sales volume surpassing 1 million metric tonnes (MT) and revenue almost doubling in the last two years to reach nearly Rs 5,000 crores in FY ’24, media reports said.

The profit after tax (PAT) for Q4 FY24 stood at Rs 157 crore, a growth of 67% on a year-on-year (YoY) compared to Rs 94 crore in Q4 FY23. In the financial results for the fourth quarter (Q4) of fiscal year 2024, the company recorded revenue of Rs 13,238 crore. In FY 24, Adani Wilmar has earned a revenue of Rs 51,262 crore.

In edible oils, the company recorded revenue of Rs 10,195 crore in Q4 of FY24 and Rs 38,788 crore in FY 24. The domestic branded sales volume witnessed a growth of 13% YoY in FY 24.

Angshu Mallick, MD & CEO of Adani Wilmar, was quoted by ANI as saying, “We continued to witness strong volume growth in our edible oils & foods business driven by increased retail penetration. A focused approach in sales & marketing and regional approach in each category is leading to gaining market share from the local players. The adoption of our Integrated Business model strategy allows us to effectively compete with large and regional players.”

The food & FMCG segment reported a revenue of Rs 1,341 crore in Q4 FY24, with an underlying volume growth of 9% YoY. In FY 24, both domestic revenue and volume grew by 39%, reaching nearly Rs 5,000 crore.

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