Adani Wilmar, which sells edible oils and other food products, reported a 6% yearly increase in sales volumes and a 33% increase in revenue in the December quarter.
Adani Wilmar, founded in 1999 by the Adani Group and the Singapore Wilmar Group, primarily promotes its goods under the Fortune brand name.
Adani Group recently announced its exit from the joint venture, selling its full 44% stake to Wilmar Group through an open market transaction.
In a regulatory filing on Saturday, Adani Wilmar said the company “achieved a healthy volume growth of 6 per cent year-on-year in Q3 (December quarter), despite significant price hikes driven by surge in raw material costs”.
Revenue grew 33 per cent year-on-year, it added.
“In the edible oils segment, although there was downtrading among consumers, the company maintained its market share by its strategy of having a diverse portfolio of brands at various price points,” Adani Wilmar said.
In the edible oil business, the company recorded a 4% increase in sales volume and a 39% increase in revenue.
In the food category, the business observed that important packed products such as wheat flour, rice, nuggets, legumes, poha, and sugar continued to increase at a double-digit rate.
“The integrated distribution model is enabling us to leverage the strength of our oil distribution network to boost the reach of our food products, particularly in urban markets,” Adani Wilmar said.
E-commerce, including fast commerce, sales volume continued to expand rapidly at 41% year on year.
The company stated that its focus on gaining a fair share in south India has continued to provide great results, generating over 15% year-on-year volume increase for branded edible oils and foods combined.
“Rural markets continued to drive faster growth for our foods business, fuelled by expanded coverage of rural towns and trial generation through combo offers,” the company said.
