Adani Wilmar announced on February 8 that its net profit increased by 16 percent year on year to Rs 246 crore for the October-December quarter 2022, while its consolidated revenue from operations increased by 7 percent year on year to Rs 15,438 crore.
Volumes increased by 16 percent to 1.47 million tonne as a result of the significant opportunity in the packaged food market, according to Adani Wilmar’s results announcement. “The quarter also saw macro tailwinds in the form of strong demand on the back of festivities and weddings, gradual recovery in rural markets and a bumper kharif crop,” it added.
EBITDA (profits before interest, taxes, depreciation, and amortisation) increased 20.2 percent year on year to Rs 605.3 crore. Margins increased to 3.9 percent from 3.5 percent the previous year.
The company’s outperformer was the Food & FMCG category. This area is expected to generate Rs 4,000 crore in revenue for the fiscal year FY23. The ‘Fortune’ brand increased its market share in the edible oil area from 19.4 percent to 19.5 percent. Adani boosted its market share of castor oil exports from India to 32% in the industry necessities sector.
“We are expanding our product portfolio with region specific products, ready-to-cook products, and category adjacencies. The company is progressing well in the forward integration of its industry essential business, resulting in the growth in sales of specialty chemicals, in addition to the growth in basic oleochemicals from capacity expansion,” Angshu Mallick, managing director & chief executive officer, Adani Wilmar said.
According to the results announcement, the firm feels that there is a significant opportunity in the Food & FMCG area as well as the HoReCa (hotels, restaurants, cafes) consumer segment in the future.