Adani Wilmar Q2 Updates: Revenue Growth Hits Double Digit
The 'Fortune' brand-marketed edible oil segment reported year-over-year revenue growth of 20% and volume growth of 15%.
Adani Wilmar Ltd. on Friday said its second-quarter revenue grew 16% on a yearly basis, driven by strong execution in both the edible oils and food business. The company said its broader portfolio of oils and food products, combined with increased throughput, is now providing scale advantage in distribution, according to an exchange filing.
In the second quarter, the 'Fortune' brand-marketed edible oil segment reported year-over-year revenue growth of 20% and volume growth of 15%.
"The strategy of enhancing penetration in under-indexed markets continued, along with expanding the distribution of sunflower and mustard oil into regions outside their core areas," Adani Wilmar said.
The food and FMCG segments saw 36% revenue growth, driven by increased outlet penetration and repeat purchases of food products. Volumes increased by 31%.
The introduction of small pack sizes in markets with lower per capita consumption also boosted sales. In the quarter gone by, branded sales of pulses, besan, soya nuggets, sugar, poha, and soap showed strong double-digit growth, Adani Wilmar said.
The company has been expanding its distribution network to access more towns, reaching over 36,000 rural towns directly by the end of the quarter.
Adani Wilmar is a joint venture between the Adani Group and Singapore's Wilmar Group. The company has 23 plants in India, which are strategically located across 10 states, comprising 10 crushing units, 19 refineries, and food capacities.
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