Adani Wilmar posts highest-ever half yearly net profit at Rs 624 crore

Ahmedabad, Oct 24 Adani Wilmar Ltd on Thursday reported its highest-ever half-yearly net profit at Rs 624 crore for the first six months of the current fiscal (FY25).

In Q2 FY25, the Adani Group company clocked Rs 326 crore in standalone profit (PAT), up from Rs 324 crore in Q1 FY25. In the quarter, the company saw an 18 per cent surge in revenue at Rs 14,460 crore (year-on-year).

Adani Wilmar MD and CEO Angshu Mallick said they have delivered another strong quarter, with double-digit growth in both edible oils and Food & FMCG segments.

"We have been the second and third largest players in wheat flour and basmati rice business, respectively. On the back of trust and quality, along with branding investments, our flagship brand ‘Fortune’ has been gaining good acceptance with consumers for the entire range of kitchen essentials," Mallick added.

Edible oils and Food and FMCG segments delivered strong double-digit revenue growth of 21 per cent and 34 per cent (YoY), respectively. The strong growth in staple foods was partially offset by the decline in the industry essential segment.

With stable edible oil prices, the Adani Group company posted strong profits over the last four quarters.

For Q2 FY25, operating EBITDA was at Rs 613 crore. In Q2, the edible oil segment revenue grew by 21 per cent YoY to Rs 10,977 crore. This represents the third consecutive quarter of double-digit volume growth. The growth was driven by strong performance in soybean, sunflower, and mustard oil. The Food and FMCG segment’s revenue grew by 34 per cent to Rs 1,718 crore. Excluding the G2G exports business, the volume growth of the Food and FMCG business was at 21 per cent YoY.

"In the wheat business, the company continues to grow strongly. The sales also benefited from the introduction of small pack sizes in markets with lower per capita consumption. In Q2, branded sales of pulses, besan, soya nuggets, sugar, poha, and soap showed strong double-digit growth YoY," the company said.

The company has been expanding its distribution network to access more towns and has reached over 36,000 rural towns directly by the end of September. The goal is to reach 50,000 rural towns by the end of FY25 and drive the penetration of outlets and volume offtake in the new outlets, said the company.

Source: IANS