Adani Wilmar, a major player in the edible oil and food industry, has reported impressive growth in volume, resulting in revenue exceeding Rs 55,000 crore during the last fiscal year – as reported in indianretailer.
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The company, which sells edible oil and food products under the Fortune brand, experienced nearly 14 percent growth in volume year-on-year in FY23 and has been successful in scaling up its operations and gaining market share across food products.
The Food and FMCG segment of the company saw revenue of approximately Rs 3,800 crore, registering a growth of about 40 percent YoY in volumes and 55 percent YoY in revenue terms. Additionally, Adani Wilmar reported stable prices and higher consumer demand, particularly in rural areas, due to cooled-off prices of imported edible oils.
While branded sales volume in the edible oil segment grew by 4 percent, overall oil sales volume was dragged down by lower demand from the bakery and frying industry. Adani Wilmar, a joint venture between Adani Group of India and Wilmar Group of Singapore, has 23 plants across 10 states in India and is among the largest consumer Food FMCG companies in the country.
Adani Wilmar Ltd is a joint venture between Adani Group and Wilmar Group of Singapore. It is engaged in the manufacturing of edible oil, wheat flour, rice, pulses, and sugar. The company also owns the popular brand Fortune. It is one of the few large FMCG food companies in India to offer most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar. The products are offered under a diverse range of brands across a broad price spectrum and cater to different customer groups.
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As of the date, the company has 23 plants across 10 states in India. In addition, as of March 31, 2021, to cater to the excess demand and ensure our presence across different locations in proximity to end customers, Adani Wilmar utilized 28 tolling units across India.