Adani Wilmar Ltd Share Price – NSE /  BSE

Edible Oil, Small Cap

Net profit of Adani Wilmar reported to Rs 311.02 crore in the quarter ended September 2024 as against net loss of Rs 130.73 crore during the previous quarter ended September 2023. Sales rose 17.88% to Rs 14460.45 crore in the quarter ended September 2024 as against Rs 12267.15 crore during the previous quarter ended September 2023.

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Revenue from operations jumped 17.87% YoY to Rs 14,460.45 crore in the quarter ended 30 September 2024.

The firm reported a profit before tax of Rs 401.87 crore in Q2 FY25, as compared with pre-tax loss of Rs 108.25 crore recorded in same quarter last year.

The company has reported strong operating EBITDA of Rs 612 crore in Q2 FY25, up 325% from Rs 144 crore posted in Q2 FY24.

The Edible oils and Food & FMCG segments delivered strong double-digit revenue growth of 21% YoY to Rs 10,976.55 and 34% YoY to Rs 1,718.17 respectively. The strong growth in staple foods was partially offset by the 9% decline in the Industry Essential segment.

During the quarter, the Food & FMCG segment’s revenue grew by 34% to Rs 1,718 crore, with an underlying volume growth of 33% YoY. Excluding the G2G exports business, the volume growth of Food & FMCG business was at 21% YoY.

In the Wheat business, the company continues to grow strongly. The sales also benefitted from the introduction of small pack sizes in markets with lower per capita consumption. In Q2, branded sales of pulses, besan, soya nuggets, sugar, poha, and soap showed strong double-digit growth YoY.

The Industry Essentials segment reported a revenue decline of 9% YoY to Rs 1,766 crore. During the quarter, both volume and value in this segment decreased due to lower sales in the oleo, castor meals, and oil meal businesses. Production of oleo at the Mundra plant was impacted by heavy rains. However, we anticipate that this business will return to normalized levels in the next quarter.

On half-year basis, the company reported consolidated net profit of Rs 624.22 crore in H1 FY25 as against net loss of Rs 209.65 crore posted in H1 FY24. The company’s revenue grew by 13.62% YoY to Rs 28,629.03 crore in H1 FY25.

Angshu Mallick, MD & CEO, Adani Wilmar, said, “We have been 2nd and 3rd largest player in Wheat flour and Basmati Rice business respectively. On the back of Trust and Quality, along with branding investments, our flagship brand ‘Fortune’ has been gaining good acceptance with consumers for the entire range of kitchen essentials.

This along with the increasing retail penetration and new towns reach is leading to strong growth in our banded portfolio. Our other food products like pulses, besan, soya chunks, poha has also been growing in strong double digit and they in aggregate has now reached Rs 1,500 crore on LTM basis. Our overall Food & FMCG business has crossed Rs 5,800 crores on LTM basis and we stay committed to build a very large packaged food business in India.”

Adani Wilmar is a provider of Edible Oil, Vanaspati, and Specialty Fats. The company offers soyabean oil, sesame oil, sunflower oil, cottonseed oil, groundnut oil, mustard oil, groundnut oil, and coconut oil, as well as vegetable ghee. The company is one of the largest FMCG companies in India.

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Adani Wilmar will hold a meeting of the Board of Directors of the Company on 24 October 2024.

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The broader portfolio of oils and food products, combined with increased throughput, is now providing with a scale advantage in distribution.

In Q2, revenue from alternate channels increased at a strong double digit rate YoY, with revenue over the past twelve months exceeding Rs 3,000 crore. The e-commerce channel has seen even more rapid growth, with its revenue increasing by around four times in the last four years.

Segment-wise, Adani Wilmar’s edible oil volume increased 15% YoY, while the sales value for the segment jumped 20% YoY.

The edibile Oil business maintained its strong momentum with double-digit YoY volume growth driven by strong performance in Soyabean, Sunflower and Mustard oils.

The Food & FMCG segment recorded a YoY revenue growth of 36%, fueled by increased outlet penetration, and repeat purchases of the company’s food products. Excluding the G2G business (sales to government-appointed export agencies), revenue growth was 26% YoY.

The sales also benefitted from the introduction of small pack sizes in markets with lower per capita consumption. In Q2, branded sales of pulses, besan, soya nuggets, sugar, poha, and soap showed strong double-digit growth YoY

The company has been expanding its distribution network to access more towns, reaching over 36,000 rural towns directly by the end of Sep’24. This marks a substantial progress from just over 5,000 towns in Mar ’22. The goal is to reach 50,000 plus rural towns by the end of FY’25 and drive the penetration of outlets and volume offtake in the new outlets.

Adani Wilmar is a provider of Edible Oil, Vanaspati, and Specialty Fats. The company offers soyabean oil, sesame oil, sunflower oil, cottonseed oil, groundnut oil, mustard oil, groundnut oil, and coconut oil, as well as vegetable ghee. The company is one of the largest FMCG companies in India.

The edible oil major’s consolidated net profit surged 67.45% to Rs 156.75 crore in Q4 FY24 as against Rs 93.61 crore posted in Q4 FY23. Revenue from operations stood Rs 13,238.04 crore in Q4 FY24, down 4.57% from Rs 13,872.64 crore recorded in the corresponding quarter previous year.

Shares of Adani Wilmar declined 1.41% to Rs 331.55 on the BSE.

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