Adani Wilmar sees Q2 revenue growth of 16% driven by edible oil, food segments
Adani Wilmar projected 16% revenue growth for Q2 ending September 30, driven by strong performance in its edible oils and food segments. Edible oil volumes rose 15%, while food volumes surged 31%. The company, known for its “Fortune” brand, credited its broad product portfolio and distribution scale. Rival Marico projected high single-digit growth for the same period. Adani Wilmar’s shares fell 0.8% to ₹337.60 on Friday amid a market decline.
Adani Wilmar on Friday projected a 16% revenue growth for the second quarter ended September 30, fuelled by the strong performance in both its edible oils and food segments.
This growth comes as India’s consumption of edible oils is projected to rise by 2%-3% due to increasing population and economic prosperity, according to a Reuters report.
The company highlighted its expanding food business, stating, “We are seeing growth in the food business across various categories and regions throughout the country. Our broader portfolio of oils and food products, combined with increased throughput, is now providing us with a scale advantage in distribution.”
Adani Wilmar, popularly known for selling the ‘Fortune’ cooking oil brand, said volumes for its food and edible oil segments rose 31% and 15% in the September quarter, respectively.
In the second quarter, revenue from its alternate channels increased at a strong double digit rate year-on-year, the company said, with revenue over the past twelve months exceeding ₹3,000 crores.
Rival Marico, known for its “Parachute” coconut oils, announced on Wednesday that it anticipates consolidated revenue growth in the high single-digit percentage range for the second quarter.
Shares of Adani Wilmar 0.8% lower at ₹337.60 on Friday. The company’s shares have fallen 3.3% in the past five days amid a broader market decline.
Source Link : https://www.cnbctv18.com/market/adani-wilmar-sees-q2-revenue-growth-of-16-driven-by-edible-oil-food-segments-19487506.htm
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