Last Updated on February 1, 2024 by ethinos
Table of Content
Adani Wilmar Limited (AWL) Financial Performance:
1. Volume Growth:
AWL recorded a robust 13% volume growth in the first nine months of FY24, showcasing broad-based growth across all segments.
2. Revenue Growth:
- Sequentially, AWL experienced a 5% quarter-on-quarter (QoQ) revenue growth in Q3’24 compared to Q2’24.
- In 9M ’24, the Food & FMCG segment achieved a revenue of approximately INR 3,653 Crores, marking a significant 26% year-on-year (YoY) growth.
3. EBITDA Performance:
AWL achieved its second-best EBITDA till date, amounting to INR 504 crores in Q3.
4. Growth Trajectory:
- The company’s growth trajectory remained steady with a volume growth of 5% YoY in Q3’24 and 13% YoY in 9M FY’24.
- Consumer demand for packaged staple foods remained robust during the festive season of Q3.
5. Revenue Details:
- Despite good volume growth, revenue in Q3 appeared lower by 17% YoY due to lower product pricing throughout the year to align with reduced raw material costs.
- The company recorded a revenue of INR 12,828 crores in Q3 and INR 38,024 crores in 9M FY’24.
6. Operational Strategies:
- AWL is progressively adopting regional approaches to penetrate deeper into local markets.
- The company aims to double its rural town coverage by the end of the financial year, expanding from approximately 13,000 towns to 30,000+ rural towns.
- Efforts are underway to capture export opportunities, with branded products available in 38 countries across six continents.
Additional Read: Q3 Results Dashboard
7. Edible Oil Segment:
- The volume in the edible oil segment remained flat YoY in Q3 but grew by 8% YoY during 9M FY’24, with branded products experiencing faster growth.
- ROCP market share in edible oils reached 19.8% in Dec ‘23, representing a 30 bps improvement compared to the previous year.
8. Food & FMCG Segment:
- The Food & FMCG segment continued to outperform, with revenues growing at 25% YoY and underlying volume growth of 17% YoY.
- In 9M FY’24, the segment achieved a turnover of INR 3,653 Crores, reflecting a robust 26% YoY growth.
9. Industry Essentials Segment:
- The industry essentials segment witnessed a volume growth of 17% YoY in Q3’24 and 21% YoY in 9M FY’24, supported by strong growth in Castor & Oleochemical businesses.
10. Management Commentary:
- Mr. Angshu Mallick, MD & CEO of Adani Wilmar Limited, highlighted the continued growth momentum in packaged staple foods and emphasised the significant revenue growth from branded products in the domestic market.
- AWL is focusing on scaling up its distribution network for General Trade while developing HORECA and Exports channels for faster growth opportunities.
Financial Performance: Consolidated
| INR in Crores | Q3’24 | Q3’23 | YoY% | 9M’24 | 9M’23 | YoY% |
| Volume (MMT) | 1.54 | 1.47 | 5% | 4.28 | 3.98 | 13% |
| Revenue | 12,828 | 15,438 | -17% | 38,024 | 44,312 | -14% |
| Gross Profit | 1,653 | 1,722 | -4% | 4,053 | 4,562 | -11% |
| EBITDA | 504 | 605 | -17% | 778 | 1,302 | -40% |
| PBT* | 281 | 340 | -17% | 105 | 660 | |
| PAT | 201 | 246 | -18% | (9) | 489 |
Additional Check: Adani Wilmar Share Price
About Adani Wilmar Limited (AWL)
Adani Wilmar Limited (AWL) is an Indian multinational food and beverage conglomerate based in Ahmedabad. The company was founded in 1999 as a joint venture between Adani Enterprises and Wilmar International. It is India’s largest processor of palm oil. As of 2022, it had 22 plants located across 10 states in India.
AWL offers a variety of products, including edible oil, wheat flour, rice, pulses, sugar, soap, handwash, sanitizer, and specialty fats. Some of its popular brands are Fortune, King’s, Kohinoor, Alife, and Patanjali. AWL also produces industrial essential products, such as oleochemicals, lecithin, and castor.
AWL is listed on the National Stock Exchange of India (NSE) under the symbol AWL. As of January 25, 2024, its share price was ₹350.90. In the fiscal quarter ending on September 30, 2023, AWL reported a revenue of ₹122.67 billion, a net income of -₹1.31 billion, and an EBITDA of ₹1.42 billion. AWL has a market capitalization of ₹451.67 billion and a price-to-book ratio of 5.69.
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Sources: https://www.bseindia.com/xml-data/corpfiling/AttachLive/f1c079b0-1d31-4809-994a-2309607998bc.pdf
