Conference Call with Adani Wilmar Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
Edible Oils company Adani Wilmar announced Q3FY24 & 9MFY24 results: Key Highlights: Total Revenue: Rs 12,828 crore in Q3FY24, a decrease of 17% YoY; Rs 38,024 crore in 9MFY24, a 14% decrease YoY. EBITDA: Rs 504 crore in Q3FY24; Rs 778 crore in 9MFY24. Profit Before Tax (PBT): Rs 281 crore in Q3FY24; Rs 105 crore in 9MFY24. Q3FY24: 5% YoY increase, 1.54 MMT in Q3 FY24 versus 1.47 MMT in Q3FY23. 9MFY24: 13% YoY increase, 4.48 MMT in 9MFY24 versus 3.98 MMT in 9MFY23. Edible Oil Market Share: Reached 19.8% in Dec '23. Segment-wise Performance Edible Oil: Revenue of Rs 9,711 crore in Q3FY24, YoY decrease of 23%; 8% volume growth in 9MFY24. Food & FMCG: Revenue grew 26% YoY in 9MFY24 to Rs 3,653 crore; 17% YoY volume growth in Q3. Industry Essentials: Volume growth of 17% in Q3 and 21% in 9M FY24. Commenting on the results, Angshu Mallick, MD & CEO, Adani Wilmar, said: “We continued to witness the growth momentum in packaged staple foods driven by a shift in consumer preferences for hygienic and quality products. The revenues from the branded products in the domestic market, under the Food & FMCG segment have been growing at 40%+ YoY in the past 9 quarters enabling us to close FY’24 with an estimated ~Rs 5,000 crore of revenue in the segment. We are putting our energies into rapidly scaling up our distribution network for General Trade to realize the immense opportunity available in packaged staple foods. At the same time, we are developing our HORECA and Exports channels which will continue to witness much faster growth in the near future. Our strong market share in the alternate channels put us in an advantaged position from the fast-growing rate of this channel.” Result PDF