Adani Wilmar posted a 25.6% year-on-year decline in consolidated net profit to Rs 234.29 crore in the March quarter due to a steep increase in raw material prices.
The company’s total expenses during the quarter surged over 40% on a y-o-y basis to nearly Rs 14,725 crore, led primarily by rise in cost of raw material consumed, which stood at Rs 13,666.20 crore against about Rs 9,752 crore in the quarter ended March 31, 2021.
Its revenues from operations increased 40.2% y-o-y to Rs 14,960 crore, while the Ebitda (earnings before interest, tax, depreciation and amortisation) increased 21% y-o-y to Rs 426 crore.
For the financial year ended March 31, the company reported an increase of 26% in consolidated net profit to `804 crore over last year. The revenue from operations for the year was up 46% to Rs 54,214 crore, while the Ebitda was up 34% to Rs 1,909 crore against FY21.
Consolidated volume of the company for the quarter ended March 31 stood at 1.29 MMT, registering a growth of 16% y-o-y. For the full year, the volumes came in at 4.80 MMT registering a growth of 8% versus FY21. The food and FMCG portfolio stood at 0.64 MMT in 2022 compared to 0.47 MMT in 2021, registering a growth of 34%.
Overall distribution of the company stands at 5,775 distributors, with 65% being common for both oil & foods business. This translates into a reach of 1.7 million retail outlets spread over 6,400 towns in India.
Angshu Mallick, managing director and CEO, Adani Wilmar, said, “We have delivered a steady growth inspite of the challenging macro environment. The food and FMCG segment registering double-digit growth. We have continued to improve our market share across edible oil and food categories. We are also on track to implement our go-to-market strategy focused to capture the rural growth story. We will continue to invest in our brand, distribution, sourcing and manufacturing capabilities. Going forward, we will focus more on inorganic growth and strategic investments in the foods space.”