Adani Wilmar Ltd on October 4 said, as part of its business update for September quarter, that its total sales volume rose 10% on an annual basis.
"The Company delivered another strong quarter with double-digit revenue growth of 16%YoY, driven by strong execution in both edible oils and food business. 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," said the FMCG firm in a stock exchange filing.
Adani Wilmar is a joint venture between Adani Group of India and Wilmar Group of Singapore.
In Q2, revenue from alternate channels increased at a double digit rate YoY, with revenue over the past twelve months exceeding Rs 3,000 crore. The e-commerce channel has seen even more rapid growth, with its revenue increasing by around four times in the last four years, said the company.
The edible oil business maintained its strong momentum with double-digit YoY volume growth driven by strong performance in Soyabean, Sunflower and Mustard oils, added Adani Wilmar.
"The Food & FMCG segment recorded a YoY revenue growth of 36%, fueled by increased outlet penetration, and repeat purchases of our food products. Excluding the G2G business (sales to government-appointed export agencies), revenue growth was 26% YoY," the company said.
In Q2, branded sales of pulses, besan, soya nuggets, sugar, poha, and soap showed strong double-digit growth YoY, said Adani Wilmar.
On October 4, Adani Wilmar's shares on BSE closed 0.75% lower at Rs 337.6 apiece.
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