Adani Wilmar reports 13% volume growth in June quarter, exports up 36%
Adani Wilmar reported a strong 13% volume growth in Q1 FY2024, driven by strategic market-specific initiatives across categories. E-commerce, quick commerce, and modern trade channels saw a notable 19% YoY volume increase. Branded exports surged by 36%. The edible oil segment excelled with robust sales and distribution execution, while the food products business grew by 23%.
Edible oil major Adani Wilmar on Friday said it has reported a 13 per cent volume growth in the June quarter.
The double-digit growth was propelled by market-specific strategies in each category, aimed at gaining market share, especially in under-indexed markets, the company said in a business update.
In the first quarter of the current fiscal, “the company achieved robust volume growth of 13 per cent YoY,” the company said.
Adani Wilmar has reported a 19 per cent year-on-year (YoY) volume growth in the first quarter from alternate channels such as e-commerce, quick commerce and modern trade channels.
The company, which sells edible oils and some other food products under Fortune brands, has also strengthened the traditional channels as general trade.
Besides, “the volume of our branded exports increased by 36 per cent in Q1,” it added.
In the edible oil segment, Adani Wilmar’s business thrived due to robust execution in sales and distribution.
Its food products business also demonstrated strong growth of 23 per cent.
“The quarter’s growth was additionally supported by sales of non-basmati rice to government-appointed agencies for exports. Even after normalising this aspect, the Food & FMCG business volume grew by 23 per cent YoY,” it said.
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