Adani Wilmar profit declines 26% in Q4

The net profit of Adani Wilmar fell 26 per cent yearon-year (YOY) to ~219.2 crore in the March quarter of financial year 2021-22 (Q4FY22) on the back of higher tax expense.

In the quarter, the edible oil major’s revenue from operations rose 40.2 per cent YOY to ~14,960.4 crore. “We have delivered steady growth in spite of the challenging macro environment. The food and FMCG segment registered double-digit growth. We have continued to improve our market share across edible oil and food categories,” Angshu Mallick, managing director and chief executive officer of Adani Wilmar, was quoted as saying in a press release.

The company said there was a reduction in rural demand because of inflation.

In Q4, the firm’s revenue from edible oil stood at ~12,415 crore, up 41 per cent

YOY, and its revenue from foods and FMCG stood at ~757 crore, up 49 per cent YOY.

“We will continue to invest in our brand, distribution, sourcing and manufacturing capabilities. Going forward, we will focus more on inorganic growth and strategic investments in the foods space,” Mallick said.

The company reported a PBIDT (profit before income, depreciation and tax) of ~488.3 crore, up 28.7 per cent YOY. Volumes stood at 4.8 million tonnes (MT) in FY22 compared to 4.46 (MT) in FY21, a growth of 8 per cent.

Its food and FMCG portfolio stood at 0.64 MT in FY22, compared with 0.47 MT in FY21, registering a growth of 34 per cent.

Adani Wilmar’s overall distribution now stands at 5,775 units with 65 per cent being common for both oil and foods businesses. It now has a total of 1.7 million retail outlets spread across over 6,400 towns in India.