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27 Years
4.4 Star
1 Crore +
Edible Oils company Adani Wilmar announced Q4FY24 & FY24 results:
Q4FY24 & FY24 Financial Highlights:
- Profit After Tax (PAT): Rs 157 crore, marking a 67% YoY growth from Q4FY23 PAT of Rs 94 crore
- Food & FMCG sales volume exceeded 1 million MT
- Food & FMCG segment revenue for FY24 nearly doubled over 2 years to approximately Rs 5,000 crore
- Edible oils volume growth of 11% in Q4FY24 and 9% in FY24
- Wheat Flour market share increased by 60 basis points to 5.6%
- HORECA segment revenue crossed Rs 400 crore in FY24
- Edible Oil: Volume of 0.98 million MT (up 11% YoY); revenue of Rs 10,195 crore (down 6% YoY)
- Food & FMCG: Volume of 0.28 million MT (up 9% YoY); revenue of Rs 1,341 crore (up 16% YoY)
- Industry Essentials: Volume of 0.28 million MT (down 22% YoY); revenue of Rs 1,702 crore (down 12% YoY)
- FY24 Revenue: Rs 51,262 crore
- Edible Oil : Volume of 3.67 million MT (up 9%); revenue of Rs 38,788 crore (down 16% YoY)
- Food & FMCG : Volume of 1.03 million MT (up 16%); revenue of Rs 4,994 crore (up 23% YoY)
- Industry Essentials : Volume of 1.32 million MT (up 8%); revenue of Rs 7,479 crore (down 7% YoY)
Commenting on the results, Angshu Mallick, MD & CEO, Adani Wilmar Limited said: “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. The adoption of our Integrated Business model strategy allows us to effectively compete with large and regional players.
With fast-growing volumes, the Company has achieved major milestones during the year. In fiscal FY’24, Food & FMCG business reached 1 million MT in sales and overall Company surpassed 6 million MT in sales. Revenue in Food & FMCG segment has nearly doubled in last 2 years to reach almost Rs 5,000 crore in FY’24.
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 crore and Rs 404 crore on a consolidated and standalone basis respectively.
The challenges faced by the company in Bangladesh operations have been overcome with the improved forex situation and fundamentals of the economy. The operations have come back to normalcy this quarter. Our brand “Rupchanda” remains the market leader in Bangladesh in the Edible Oil category."
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