NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Adani Wilmar Ltd.'s reported a strong Q1 FY25 with revenue growth of 10% YoY led by double-digit volume growth (12% YoY) driven by edible oils (+12% YoY) and continued strong performance in foods segment (+19% YoY revenue growth on comparable basis; domestic branded business grew ~30% YoY over last 11 quarters).
This performance is driven by-
stability in edible oil prices,
distribution expansion (18% YoY and 40% YoY growth in direct reach and rural town coverage).
Profitability also improved with stable input prices as Adani Wilmar reported highest quarterly Ebitda margins of 4.4% (above our estimates; +335 bps YoY). Focus on driving numeric distribution expansion is expected to drive growth trajectory going forward as well.
Importantly, continued meaningful outperformance of domestic foods segment (management plans to increase volume salience of foods from ~17% currently to ~30%) is key to de-risk volatility in edible oil business. Maintain Hold.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
