Adani Wilmar Stock In Green On Q1 Profit Growth
The company reports strong double-digit yearly growth of 12 per cent in volume and 10 per cent in revenue, leading to an overall revenue of Rs 14,169 crore
Adani Wilmar stock moved above 1 per cent in the Tuesday trading session after the FMCG firm reported April-June quarter (Q1) with its highest-ever net profit of Rs 313 crore, representing a yearly growth of 500 per cent.
Adani Wilmar stock traded at Rs 348 with 1.23 per cent gain in the morning session on the National Stock Exchange (NSE).
The Adani Group company also reported its highest-ever EBITDA of Rs 619 crore, up by 375 per cent year-on-year (YoY), in the April-June quarter.
As per a company release, the rise in EBITDA was attributed to stability in edible oil prices. Edible oil registered strong volume growth of 12 per cent YoY and surpassed 1 million tonnes during the quarter.
Food and FMCG sales crossed Rs 1,500 crore, with an underlying volume growth of 42 per cent.
"We have delivered another strong quarter, with double-digit growth in both edible oils and Food and FMCG segments," said Angshu Mallick, MD and CEO, Adani Wilmar.
"With our trusted brand, Fortune, we expect continued market share gains from regional brands. Our food products are making significant inroads into Indian households, and we plan to meet this large demand by enhancing our food distribution through our edible oil network," Mallick said.
The company reported strong double-digit yearly growth of 12 per cent in volume and 10 per cent in revenue, leading to an overall revenue of Rs 14,169 crore.
Sunflower oil continued to gain market share in South India due to regional interventions. The company said it is also engaging with health-conscious consumers through digital platforms for its Fortune xpert oil.
In the rice business, the quarter saw good growth. Overall, rice volumes grew by 89 percent, supported by Government-to-Government business. The Industry Essentials segment's revenue stayed flat at Rs 1,986 crore during the quarter, compared to the same period last year.
Notably, the stock performance of the Adani Wilmar remained dull in the 2024 so far, whereas the sectoral index, Nifty FMCG rose nearly 10 per cent year-to-date (YTD).
