Adani Wilmar reported a strong volume growth in the quarter ending March, largely fueled by heightened retail penetration.
The revenue figures for the FMCG firm stood at Rs 13,238 crores. While the Edible oil segment witnessed a robust growth of 11 per cent along with the Food & FMCG, which grew by 9 per cent in terms of volume, a notable decrease in the export business of oil meals resulted in overall volume growth of 3 per cent year-on-year.
Adani Wilmar is also steadily increasing its market share in its primary products. The company's market share in the Refined Oil Consumer Pack (ROCP) category has risen by 60 basis points to 19 per cent on a moving annual total (MAT) basis. Similarly, in the Wheat Flour category, the market share has surged by 60 basis points to 5.6 per cent.
“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," said Angshu Mallick, MD & CEO, Adani Wilmar Ltd.
"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 H2FY24 of Rs 358 crores and Rs 404 crores on a consolidated and standalone basis respectively," he added.
In FY24, the HORECA segment surpassed Rs 400 crores in revenue, a milestone reached within just 18 months of establishing a specialized distribution channel for HORECA. This segment is reportedly tapping into an estimated addressable market of over Rs 65,000 crores for edible oils and foods.
On an annual basis, the shares of the FMCG company have plunged by more than 13 per cent on the National Stock Exchange.
