Adani Wilmar, a major seller of edible oils and food products, reported a 6% increase in sales volume and a 33% rise in revenue for the December quarter.
Founded in 1999, Adani Wilmar is a joint venture between the Adani Group and Singapore’s Wilmar Group. Recently, Adani Group announced it is exiting the partnership by selling its entire 44% stake to the Wilmar Group and through open market sales.
In its regulatory filing, Adani Wilmar stated that despite significant price hikes due to rising raw material costs, it achieved a 6% year-on-year volume growth in Q3. The company maintained its market share in the edible oils segment by offering a diverse range of products at various price points despite the downtrading among consumers.
In the edible oils business, Adani Wilmar achieved a 4% growth in sales volume and a 39% increase in revenue.
The company reported strong double-digit growth in key food products such as wheat flour, rice, nuggets, pulses, poha, and sugar. The company’s integrated distribution model helped increase the reach of food products, particularly in urban markets, through its established oil distribution network.
E-commerce sales, including quick commerce, grew by 41% year-on-year. The company’s focus on Southh India continues to deliver strong results, with branded edible oils and foods seeing over 15% year-on-year volume growth. Rural markets also showed rapid growth, driven by expanded coverage and promotional offers.
Adani Wilmar Limited is a major food and beverage company based in Ahmedabad, India. It was established in 1999 as a partnership between Adani Enterprises and Wilmar International. The company is the largest processor of palm oil in India.
Adani Wilmar share price is currently trading at ₹325.00, down by ₹3.60 (1.10%) as of 11:04 AM on January 6, 2025. The stock opened at ₹331.00, reached a high of ₹333.00, and a low of ₹324.00. The company’s market capitalisation is ₹42,240 crore. The P/E ratio stands at 43.71, and the 52-week high and low are ₹408.95 and ₹279.00, respectively.
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Published on: Jan 6, 2025, 11:16 AM IST
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