Adani Wilmar's Growth Surge: Strategic Investments and Expansion Plans

Adani Wilmar Ltd plans a Rs 600 crore investment this fiscal to expand its edible oil processing capacities and launch new food products. The company must reduce promoter stakes to 75% by February 2024 to meet SEBI’s public shareholding norm, amid reporting significant growth in profit and income.

Adani Wilmar Ltd has announced a substantial investment of Rs 600 crore this fiscal year to expand its edible oil processing capacities and introduce new food products. The plan comprises part of an ongoing expansion programme worth Rs 3,400 crore, aiming to bolster capacities across various business segments.

The equal joint venture between Adani Group and Singapore's Wilmar also faces the requirement to reduce promoter stakes to 75% by February 2024 to comply with SEBI's minimum public shareholding norm. Currently, promoters hold an 88% stake. Adani Wilmar's market capitalization stands at Rs 45,794 crore.

In the first quarter of this fiscal, Adani Wilmar's consolidated net profit surged to Rs 313.20 crore, compared to a net loss of Rs 78.92 crore in the year-ago period. Edible oil business revenue grew by 8%, amounting to Rs 10,649 crore, while food and FMCG revenue rose by 40%.

(With inputs from agencies.)