Adani Wilmar shares jump over 4% after posting 13% YoY volume growth
Shares of Adani Wilmar surged 4.4% on BSE to Rs 347.50 after robust 13% YoY volume growth in Q1 June 2024 and a 36% rise in branded exports. E-commerce channels grew 19% YoY. Market-specific strategies boosted their edible oil and FMCG business volumes by 23%. Revenue from branded products grew over 30% YoY for eleven quarters. Despite a slowdown in the atta industry, AWL maintained growth. The company is actively expanding in the rice business.
Shares of Adani Wilmar today surged 4.4% on BSE to a high of Rs 347.50 after the company achieved a robust volume growth of 13% YoY in the quarter ended June 2024 along with a 36% increase in volume of their branded exports.
The company’s alternate channels like e-com and quick commerce were also able to maintain momentum with a 19% YoY volume growth.
The volume growth was propelled by market-specific strategies in each category, aimed at gaining market share, especially in under-indexed markets. With a robust product portfolio, the company is actively pursuing substantial opportunities by executing strong sales and distribution strategies in general trade.
Adani Wilmar’s edible oil business thrived due to a robust execution in sales and distribution, bolstered by the ongoing efforts to improve retail penetration while the food and FMCG business volume grew by 23% YoY.
Revenue from branded products in the domestic market has consistently grown at a rate exceeding 30% YoY for the past eleven quarters. The company anticipates that strong growth in food volume will persist.
In the wheat business, while the packaged atta industry has experienced a significant slowdown in growth over the past three quarters, AWL has maintained a robust growth trajectory. Meanwhile in the rice business, the company is implementing several initiatives to drive robust growth.
Adani Wilmar, a joint venture between Adani Group of India and Wilmar Group of Singapore, is one of the largest consumer Food FMCG companies in India. The company has a diversified product portfolio offering most of the primary kitchen essentials including edible oil, wheat flour, rice, pulses, besan and sugar with market leading positions across products.
Source Link : https://www.msn.com/en-in/money/news/adani-wilmar-shares-jump-over-4-after-posting-13-yoy-volume-growth/ar-BB1pAJvv
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