Edible Oils company Adani Wilmar announced Q4FY24 & FY24 results: Q4FY24 & FY24 Financial Highlights: Profit After Tax (PAT): Rs 157 crore, marking a 67% YoY growth from Q4FY23 PAT of Rs 94 crore Food & FMCG sales volume exceeded 1 million MT Food & FMCG segment revenue for FY24 nearly doubled over 2 years to approximately Rs 5,000 crore Edible oils volume growth of 11% in Q4FY24 and 9% in FY24 Wheat Flour market share increased by 60 basis points to 5.6% HORECA segment revenue crossed Rs 400 crore in FY24 Edible Oil: Volume of 0.98 million MT (up 11% YoY); revenue of Rs 10,195 crore (down 6% YoY) Food & FMCG: Volume of 0.28 million MT (up 9% YoY); revenue of Rs 1,341 crore (up 16% YoY) Industry Essentials: Volume of 0.28 million MT (down 22% YoY); revenue of Rs 1,702 crore (down 12% YoY) FY24 Revenue: Rs 51,262 crore Edible Oil : Volume of 3.67 million MT (up 9%); revenue of Rs 38,788 crore (down 16% YoY) Food & FMCG : Volume of 1.03 million MT (up 16%); revenue of Rs 4,994 crore (up 23% YoY) Industry Essentials : Volume of 1.32 million MT (up 8%); revenue of Rs 7,479 crore (down 7% YoY) Commenting on the results, Angshu Mallick, MD & CEO, Adani Wilmar Limited said: “We continued to witness strong volume growth in our edible oils & foods business driven by increased retail penetration. A focused approach in sales & marketing and regional approach in each category is leading to gaining market share from the local players. The adoption of our Integrated Business model strategy allows us to effectively compete with large and regional players. With fast-growing volumes, the Company has achieved major milestones during the year. In fiscal FY’24, Food & FMCG business reached 1 million MT in sales and overall Company surpassed 6 million MT in sales. Revenue in Food & FMCG segment has nearly doubled in last 2 years to reach almost Rs 5,000 crore in FY’24. Improvement in branded mix in edible oils during the year has also led to better profitability for the Company in the second half, with reported PAT in H2FY24 of Rs 358 crore and Rs 404 crore on a consolidated and standalone basis respectively. The challenges faced by the company in Bangladesh operations have been overcome with the improved forex situation and fundamentals of the economy. The operations have come back to normalcy this quarter. Our brand “Rupchanda” remains the market leader in Bangladesh in the Edible Oil category." Result PDF
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