Adani Wilmar Reports Decline in Net Profit and Revenue in FY2024

Adani Wilmar's net profit for FY2024 plunges 75%, while revenue dips 12% due to softening edible oil prices.

  • Adani Wilmar’s net profit for FY2024 plunges 75%, while revenue dips 12% due to softening edible oil prices.
  • Company diversifies portfolio away from core edible oil business, with food & FMCG segment growing to 17% of revenue.
  • Despite challenges in Bangladesh operations, Adani Wilmar maintains market leadership with brand “Rupchanda.”

Adani Wilmar faces a significant decline in net profit and revenue for FY2024, with net profit plummeting by 75% and revenue dipping by 12%. The softening of edible oil prices contributes to the decline in operating revenue, despite a surge in net profit for the January-March quarter.

To mitigate the impact of volatile edible oil prices, Adani Wilmar diversifies its portfolio, with the food & FMCG segment now accounting for 17% of its revenue. Despite challenges in its Bangladesh operations, the company maintains market leadership with its brand “Rupchanda.”

Adani Wilmar remains optimistic about future growth prospects, citing strong volume growth in its edible oils & foods business and gaining market share from local players. The company’s focus on sales & marketing strategies and regional approaches contributes to its competitive edge in the market.