Adani Wilmar Q4 net up despite dip in revenues
Adani Wilmar’s revenue in the fourth quarter of FY24 fell 4.6 per cent on year dragged down by its edible oils and industry essentials businesses, both of which saw a fall in revenue. However, net profit during the quarter rose 67.5 per cent mainly due to lower expenses.
The Adani Group company reported a consolidated net profit of ₹156.75 crore on revenue of ₹13,238 crore. For the full year FY24, net profit fell 75 per cent to ₹148 crore, while revenue declined
Segmental break-up showed that edible oils revenue fell 5.5 per cent in Q4 to ₹10,195 crore 12 per ₹51,261.6 crore.
The company said that food and FMCG sales doubling on year at ₹5,000 crore cent to in FY24 was a milestone, while volumes surpassed 1 million tonne.
BETTER DISTRIBUTION
Overall volume growth for the company in Q4 was at a low 3 per cent due to a decline in the exports of oil meals. Edible oil volumes rose 11 per cent, while food and FMCG volume were up 9 per cent.
In refined oil consumer pack, Adani Wilmar’s market share increased 60 basis points (bps) to 19 per cent and in wheat flour 60 bps to 5.6 per cent.
The company said in recent quarters it had made significant improvement in its distribution infrastructure in the southern region. Regional marketing communications and other interventions have resulted in the company gaining market share in sunflower oil. “With the increased digitalisation of sales function, the company has improved its agility in making decisions for dynamic pricing in the local markets,” it said.
Edible oils is one of the most visible products of the group, selling under the ‘Fortune’ brand. Segmental break-up showed that edible oils revenue fell 5.5 per cent in Q4 to ₹10,195 crore and nearly 16 per cent in the full year to ₹38,788 crore.