Biznextindia : Adani Wilmar has registered a volume growth of 14% (YoY) in FY23 at consolidated level, which enabled it to achieve INR 58,000+ Crores of revenue for the year.
The Company has crossed the milestone of 5mn Metric Tonnes of sales in FY’23, enabled by scaling up of select products, having a large addressable market, across the Country. The Company has over the years built robust infrastructure and efficient systems to support this kind of size and pace of growth. The Company is now aiming to replicate the playbook of its edible oils business in the Foods business as well. During the year, the Company made good progress and has been gaining market share across food products.
It closed the financial year 2023 with INR 4,000 crores of revenue in Food & FMCG segment, registering a strong growth of 39% YoY in volumes and 55% YoY in revenue terms, while seeding multiple new avenues of growth during the year.
H1’23 witnessed multiple macro events causing high volatility in edible oil prices, with record high prices in Q1 and subsequent crash of prices in Q2. In H2’23, prices have been gradually declining reaching lower levels, and leading to better demand trends in the second half of the year. Food prices also witnessed high inflation in H1, which started cooling off in the second half.