FMCG firm Adani Wilmar reported on February 8 that net profit jumped 16 percent YoY to Rs 246 crore for the October-December quarter 2022., while consolidated revenue from operations grew 7 percent on-year to Rs 15,438 crore.
Volumes grew by 16 percent to 1.47 million tonne on the back of the large opportunity available in the packaged food industry, Adani Wilmar said in its earnings release. "The quarter also saw macro tailwinds in the form of strong demand on the back of festivities and weddings, gradual recovery in rural markets and a bumper kharif crop," it added.
On the operating front, EBITDA (earnings before interest, taxes, depreciation and amortization) jumped 20.2 percent YoY to Rs 605.3 crore. Margins came expanded to 3.9 percent from 3.5 percent from the year-ago period.
Food & FMCG segment was the outperformer for the company. The management expects this segment to clock Rs 4,000 crore revenue for the full year FY23. In the edible oil segment, the 'Fortune' brand consolidated its market share from 19.4 percent to 19.5 percent. In industry essentials segment, the Adani firm increased its market share to 32 percent of castor oil exports from India.
"We are expanding our product portfolio with region specific products, ready-to-cook products, and category adjacencies. The company is progressing well in the forward integration of its industry essential business, resulting in the growth in sales of specialty chemicals, in addition to the growth in basic oleochemicals from capacity expansion," said Angshu Mallick, managing director & chief executive officer, Adani Wilmar.
Going forward, the company believes that there is a huge opportunity in the Food & FMCG category as well as the HoReCa (hotels, restaurants, cafes) customer segment, as per the earnings release.
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