Adani Wilmar's FY'24 Success: Record Revenue and Growth Milestones

Adani Wilmar Limited, a prominent player in the edible oils and foods industry, has unveiled its robust financial results for the fourth quarter and fiscal year ending March 31, 2024.

The company's performance reflects significant growth across various segments, driven by enhanced operational efficiency and strategic initiatives.

In the fiscal year FY'24, Adani Wilmar achieved a remarkable revenue of INR 51,262 crore, with a notable profit after tax (PAT) of INR 157 crore in Q4'24, marking a 67% year-on-year growth compared to INR 94 crore. Moreover, the food and FMCG sales volume surpassed 1 million metric tons, reaching a milestone of nearly INR 5,000 crore in FY'24, nearly doubling in just two years.

The company's success can be attributed to its strong focus on expanding its domestic market presence, particularly in edible oils and FMCG products. Despite facing challenges such as a decline in export volumes of rice due to export restrictions, Adani Wilmar's branded products in the domestic market have consistently recorded impressive revenue growth of over 30% for the last ten quarters.

Adani Wilmar's strategic approach to sales and marketing, coupled with regional expansion strategies, has enabled it to gain market share from local players. The company's integrated business model strategy has facilitated effective competition with both large corporations and regional players alike.

Furthermore, the company's Industry Essentials segment has demonstrated resilience, with revenue reaching INR 1,702 crore in Q4 and INR 7,479 crore in FY'24. Despite a decline in segment volume attributed to the oil meal business, Adani Wilmar has witnessed growth in its Oleo-chemicals and Castor businesses.

Angshu Mallick, MD & CEO of Adani Wilmar Limited, expressed his satisfaction with the company's performance, highlighting the significant milestones achieved during the fiscal year FY'24. He emphasized the company's dedication to achieving growth through increased retail penetration, sales, and marketing efforts.

Moreover, Mallick noted the company's focus on improving profitability, evidenced by the reported PAT of INR 358 crore in H2'24 on a consolidated basis. He also highlighted the successful resolution of challenges faced in the company's operations in Bangladesh, attributing the turnaround to improved forex situations and economic fundamentals.

With its brand "Rupchanda" retaining market leadership in Bangladesh's edible oil category, Adani Wilmar remains poised for further growth and success in the coming years, solidifying its position as a leader in the edible oils and foods industry.