Adani Wilmar's Food and FMCG segment surpasses 1mn MT; Revenue nearly doubles to Rs 5,000 cr in FY24

Ahmedabad (Gujarat) [India], May 1 (ANI): Adani Wilmar Limited has marked an achievement as its Food and fast moving consumer goods (FMCG) segment witnessed growth 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.
The Profit After Tax (PAT) for Q4'24 stood at Rs 157 crores, showing a growth of 67 per cent Year-on-Year (YoY) compared to Rs 94 crores in Q4'23.
Adani Wilmar Limited, one of India's leading fast moving consumer goods (FMCG) companies, has announced its financial results for the fourth quarter (Q4) of fiscal year 2024, recording revenue of Rs 13,238 crores.
In FY'24, Adani Wilmar Limited achieved revenue of Rs 51,262 crores, demonstrating a steady growth trajectory.
Angshu Mallick, MD & CEO of Adani Wilmar Limited, expressed his satisfaction with the performance, stating, "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."
In the Edible Oils segment, the company recorded revenue of Rs 10,195 crores in Q4 and Rs 38,788 crores in FY '24. The domestic branded sales volume witnessed a significant growth of 13 per cent Year-on-Year (YoY) in FY'24, resulting in market share gains.
The Food & FMCG segment reported revenue of Rs 1,341 crores in Q4, with an underlying volume growth of 9 per cent YoY. In FY '24, both domestic revenue and volume grew by 39 per cent, reaching nearly Rs 5,000 crores.
The Industry Essentials segment achieved revenue of Rs 1,702 crores in Q4 and Rs 7,479 crores in FY'24. However, the segment volume declined by 22 per cent YoY in Q4'24, primarily due to a 45 per cent decline in the oil meal business. Despite this, Oleo-chemicals and Castor businesses saw growth rates of 19 per cent and 4 per cent respectively.
Segment volume declined by 22 per cent YoY in Q4'24 due to the decline in the oil meal business by 45 per cent. However, Oleo-chemicals and Castor businesses grew by 19 per cent and 4 per cent respectively.
Mallick also addressed the challenges faced by the company in Bangladesh operations, stating, "The challenges faced by the company in Bangladesh operations have been overcome with the improved forex situation and fundamentals of the economy. The operations have come back to normalcy this quarter. Our brand "Rupchanda" remains the market leader in Bangladesh in the Edible Oil category."
Adani Wilmar Limited's focus on sales & marketing, regional approach, and integrated business model strategy have contributed to its strong performance and market leadership. (ANI)