Adani Wilmar Shatters Profit Records: A 105% Leap Marks a New Milestone

Adani Wilmar reported its highest-ever quarterly net profit of Rs 411 crore, a 105% increase year-on-year, and record revenue of Rs 16,859 crore, marking substantial growth in its food and FMCG segments. The company targets expanding its distribution network to reach over 50,000 rural towns by 2024-25.

Adani Wilmar has achieved an unprecedented quarterly net profit of Rs 411 crore for the October-December period, reflecting a startling 105% year-on-year surge. During the same timeframe last year, the profit after tax stood at Rs 200.89 crore, marking significant financial progress over five consecutive quarters.

The conglomerate also reported its highest-ever revenue at Rs 16,859 crores during the December quarter, a 31% increase compounded by a 5% year-on-year volume growth. Despite facing notable price hikes driven by escalating raw material costs, Adani Wilmar successfully maintained robust volume growth.

The group's food and FMCG sectors also witnessed remarkable progress, showcasing a 22% increase in revenue year-on-year. Earnings before interest, tax, depreciation, and amortization (EBITDA) rose by 57% to Rs 792 crores during the same quarter. Adani's strategic distribution network expansion has enabled the company to access over 43,000 rural towns by the end of 2024, with aims to extend this reach to more than 50,000 towns by 2025.

Adani Wilmar's alternate revenue channels displayed robust double-digit gains, with total revenue over the past year amounting to Rs 3,300 crores. The e-commerce sector accounted for a rapidly increasing sales volume of 41% year-on-year. Commenting on the quarter's success, MD and CEO, Angshu Mallick, highlighted the combined growth in both edible oils and the food and FMCG sectors.

Meanwhile, Adani Enterprises has announced plans to sever ties with Wilmar through a joint venture exit, agreeing to transfer its 13% shareholdings in Adani Wilmar to Wilmar International. This decision will result in Adani Enterprises fully exiting the platform, using the proceeds to bolster its investments across core infrastructure initiatives.

(With inputs from agencies.)