With a robust product portfolio, the company also said it is actively pursuing substantial opportunities by executing strong sales and distribution strategies in general trade.
Moreover, the company’s alternate channels like e-commerce, quick commerce and MT maintained their momentum with 19% year-on-year volume growth in Q1. The volume of its branded exports increased by 36% year-on-year in the June quarter.
The company has achieved a total sales value of 11% year-on-year in the first quarter ended June 2024.
Segment-wise, Adani Wilmar said the edible oil business thrived due to robust execution in sales and distribution, bolstered by the ongoing efforts to improve retail penetration. This came despite the challenges in the industry during the quarter, including decreased out-of-home consumption and seasonal dips in summer demand.The edible oil volume for the quarter increased 13% year-on-year, while the sales value for the segment jumped 10% year-on-year.The food products segment is said to have demonstrated strong growth by harnessing the well-established and widely penetrated distribution network of edible oils, along with increasing trials through strategic bundling and trade schemes. The quarter’s volumes for the division increased 46% while sales value jumped 45%. The growth was additionally supported by sales of non-basmati rice to Government appointed agencies for exports. Even after normalizing this aspect, the food and fMCG business volume grew by 23% year-on-year.
Revenue from branded products in the domestic market has consistently grown at a rate exceeding 30% year-on-year for the past eleven quarters. The company anticipates that strong growth in food volume will persist in the near future.
On Friday, Adani Wilmar shares were down 0.27% lower at Rs 333 on NSE.