Adani Wilmar reported a decent set of Q4 results today, May 01. The company’s consolidated net profit for the quarter ended March 2024 rose 67% on a YoY basis to Rs 157 crore from Rs 94 crore in the same period last year (Jan-March 2023). The company’s revenue from operations however fell on a YoY basis but was higher sequentially — at Rs 13,238 crore in Q4FY24 vs 13,878 crore in Q4FY23 and Rs 12,828 crore in Q3FY24.
Adani Wilmar‘s edible oils segment grew by 11% and Food & FMCG by 9% in volume terms, a significant decline in the export business of oil meals dragged down the overall volume growth to 3% YoY in Q4FY24.
SEGMENT WISE PERFORMANCE OF ADANI WILMAR IN Q4FY24
Edible Oils
The edible oil segment recorded revenue of INR 10,195 crores in Q4 and INR 38,788 crores in FY ’24. The volume grew by 11% YoY in Q4 and 9% YoY in FY’24. The domestic branded sales volume grew at a faster clip at 13% YoY in FY’24, compared to overall growth.
Food & FMCG
The Food & FMCG segment recorded revenue of INR 1,341 crores in Q4, with an underlying volume growth of 9% YoY for the quarter. In FY ’24, the domestic revenue and volume both grew by 39%, whereas export volumes of rice declined by 46%, due to export restrictions. As a result, overall Food & FMCG revenue grew by 23% YoY resulting in revenues of INR 4,944 crores. The revenue from branded products in the domestic market has been growing consistently YoY at over 30% for the last ten quarters.
Industry Essentials
The Industry Essentials segment recorded revenue of INR 1,702 crores in Q4 and INR 7,479 crores in FY’24. The segment’s volume declined by 22% YoY in Q4’24. This is due to the decline in the oil meal business by 45%. Oleo-chemicals and Castor businesses grew by 19% and 4% respectively.
