Adani Wilmar Ltd.’s fourth quarter revenue rose fuelled by higher edible oil prices due to the ongoing Russia-Ukraine conflict, even as it hurt the company margin.
Future Roadmap
Adani Wilmar plans to expand capacities aggressively in the food business.
“Going forward, we will focus more on inorganic growth and strategic investments in the food space," Mallick said. The company is also looking at capacity addition in rice, wheat flour, pulses and besan.
The company launched Fortune Poha, two variants of ready-to-cook Khichdi, and Fortune Total Balance oil (a 3-in-1 blended oil) in FY22. “These launches are in line with the focus on expanding the value-added foods basket with health and wellness,” he said.
In a bid to strengthen its manufacturing footprint in the food segment, Adani Wilmar acquired a rice mill in Burdwan, West Bengal. “With all these efforts, we expect volumes in the food business to grow from 11-12% in FY22 to 20% in FY23.”
Adani Wilmar added 28 Fortune Mart stores in FY22, taking the total count to 33, with plans to add 100 more stores.
Fortune Mart is a franchise physical store to showcase Fortune-branded products. It also serves as fulfillment centres for home delivery of products ordered through its D2C channel: Fortune Online. The direct-to-consumer platform is currently available in 25 cities.
Adani Wilmar’s flagship brand Fortune commands an 18.8% market share in India, according to its investor presentation. It reaches 90 million households, indicating that one out of every three households consumes a Fortune product, the company claims.
The company has 22 plants in India located across 10 states, comprising 10 crushing units and 19 refineries. Adani Wilmar’s refinery in Mundra is the largest with a capacity of 5,000 tonnes per day.
Shares of Adani Wilmar fell 5.07% in the last five consecutive days compared with a 0.2% loss in the benchmark Nifty 50. The stock, however, rose multiple times since its IPO, going from Rs 221 in February to Rs 878 in April.
RECOMMENDED FOR YOU
POPULAR