Adani Wilmar Q4 Update: Edible oils see fall in sales, food segment lifts overall show
A strong 14% year-on-year (YoY) growth in volumes drove Adani Wilmar Ltd’s turnover past Rs 55,000 crore in FY23.
The Adani Group firm has clocked a 55% growth in revenue for FY23 in the food and FMCG segment, led by a 40% growth in volumes, it said in a press
“The food business is scaling up well in-line with our expectations. We have been making good progress in all enablers like sourcing, manufacturing, distribution, brand building and strengthening the teams for the new products,” it said.
The edible oils maker made good progress in scaling up its operations and gaining market share across food products.
While the food and FMCG segment has done well, the mainstay edible oil segment’s performance was subdued in FY23, with the company expecting a low single-digit growth in volume and flat growth in value terms.
For the quarter ended March too, volume growth in the edible oil segment is seen flat while revenue is expected to decline in mid-teens.
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