Adani Wilmar reported a standalone net profit of Rs 156.32 crore in Q4 of FY24, a jump of 60% on year, against Rs 97.70 crore in the same period a year ago.  

The Adani Group’s flagship FMCG firm posted a consolidated net profit of Rs 156.75 crore Vs Rs 93.61 crore in the corresponding period a year earlier. 

However, the company’s revenue declined 4.5% on year in Q4 of FY24 standing at Rs 13,238.04 crore in the last quarter of FY24, against Rs 13,872.64 crore it posted in the same period of the previous year.

“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. 

With fast-growing volumes, the Company has achieved major milestones during the year. In fiscal FY24, Food & FMCG business reached 1 million MT in sales and overall Company surpassed 6 million MT in sales. Revenue in Food & FMCG segment has nearly doubled in last 2 years to reach almost Rs 5,000 crores in FY24. 

Improvement in branded mix in edible oils during the year has also led to better profitability for the Company in the second half, with reported PAT in H2 FY24 of Rs 358 crores and Rs 404 crores on a consolidated and standalone basis respectively. 

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,” said Angshu Mallick, MD & CEO of Adani Wilmar.

Business Segment

The segment’s volume declined by 22% on year in Q4 of FY24. This is due to the decline in the oil meal business by 45%. Oleo-chemicals and Castor businesses grew by 19% and 4% respectively. 

For the whole year, the company’s segment volume grew by 8% from FY23, with 13% year-over-year growth in Oleo-chemicals and 2% on year growth in castor business. The oil meal business grew at 9% on year.

The edible oil segment recorded a revenue of Rs 10,195 crores in the January-March period and Rs 38,788 crores in FY24. The volume in the edible oil segment grew by 11% on year in Q4 and 9% on year in the whole financial year. The domestic branded sales volume grew at a faster clip at 13% year-on-year in FY24. 

The Food & FMCG segment recorded revenue of Rs 1,341 crores in the quarter ending March, a volume growth of 9% on year. In FY24, the domestic revenue and volume both grew by 39%, whereas export volumes of rice declined by 46%, due to export restrictions. Overall Food & FMCG revenue grew by 23% on year resulting in revenues of Rs 4,944 crores in FY24.