Latest news with #AWL
Reuters
29-04-2025
- Business
- Reuters
India's AWL Agri Business ups sales forecast on delivery boom, easing food prices
April 29 (Reuters) - Indian consumer goods firm AWL Agri Business ( opens new tab, formerly known as Adani Wilmar, raised its forecast for fiscal 2026 sales volumes, expecting growth to surpass 10%, as it bets on the boom in 10-minute delivery platforms and softer food prices. Inflation slipped to a more-than-five-year low in March, even as Indians wrestle with high living costs, with food prices moderating from eye-watering levels last year. here. "Overall food basket inflation worry is not there. Consumption will happen because prices are affordable now," CEO Angshu Mallick told Reuters on Tuesday. He added that sales volumes in AWL's edible oil business, its biggest, are expected to increase by 7%-10% this fiscal year, which started on April 1. This, coupled with the food business, is expected to push the group's growth over the 10% mark. The 'Fortune' oil maker also plans to increase the number of stores it serves directly by 12%-15% to almost 1 million outlets from 860,000 currently. The upbeat forecast comes weeks after the company changed its name from Adani Wilmar following Adani Group's exit from a joint venture by selling its stake to Singapore's Wilmar International . In February, Mallick told Reuters AWL would return to sales volume growth of about 10% this fiscal, led by tax relief measures and growth on delivery apps. India's 10-minute delivery platforms, including Swiggy's ( opens new tab Instamart, Eternal's ( opens new tab Blinkit and Zepto, have helped consumer goods makers grow in Indian cities. The quick-delivery sector accounted, opens new tab for over two-thirds of all e-grocery orders last year, with its market share growing about five times to $6 billion-$7 billion from 2022. Separately, Mallick also said India should widen the import tariff differential between crude and refined oil, particularly palm oil, to support domestic refining capacity. "If somebody imports refined oil directly, processors have to live with the lower production, higher cost, and then, obviously, the business is not so viable," he added. On Monday, AWL's quarterly consolidated net profit jumped nearly 22% to 1.9 billion rupees ($22.4 million). ($1 = 84.9770 Indian rupees)
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Business Standard
28-04-2025
- Business
- Business Standard
AWL Agri Business Q4 results: Profit up 22% on strong edible oils demand
India's AWL Agri Business, previously known as Adani Wilmar, reported a nearly 22 per cent rise in fourth-quarter profit on Monday, benefiting from higher demand in its core edible oils segment. The consumer goods company, which makes the Fortune brand of cooking oil, reported a consolidated net profit of Rs 1.9 billion Indian ($22.36 million) for the quarter ended March 31, compared with Rs 1.56 billion a year ago. Revenue from its core edible oils segment - which accounted for more than 81 per cent of total revenue - jumped 45 per cent during the quarter, driven by increased demand for sunflower and mustard oils. Cooking oil has largely resisted the broader slowdown in branded consumer goods due to its essential nature despite brands increasing prices in recent months to offset rising ingredient costs, as per analysts. AWL's food unit, which sells staples such as rice and wheat, reported revenue growth of 9 per cent, driven by strong demand and distribution through e-commerce and trade channels. AWL's chief executive officer, Angshu Mallick, told Reuters in February that the company expects sales to grow 10 per cent in fiscal 2026, led by demand from 10-minute delivery apps and tax cuts. Overall revenue rose about 38 per cent in the fourth quarter. The company changed its name from Adani Wilmar in March after Adani Group exited the joint venture by selling its stake to Singapore's Wilmar International. Rival Marico, which sells the Saffola brand of cooking oil, will report results on Friday. The company is eyeing revenue growth in the low single digit for the three months ended March following three straight quarters of profit fall. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Reuters
28-04-2025
- Business
- Reuters
India's AWL Agri Business posts jump in quarterly profit on edible oil demand
April 28 (Reuters) - India's AWL Agri Business ( opens new tab, previously known as Adani Wilmar, reported a nearly 22% rise in fourth-quarter profit on Monday, benefiting from higher demand in its core edible oils segment. The consumer goods company, which makes the Fortune brand of cooking oil, reported a consolidated net profit of 1.9 billion Indian rupees ($22.36 million) for the quarter ended March 31, compared with 1.56 billion rupees a year ago. Revenue from its core edible oils segment - which accounted for more than 81% of total revenue - jumped 45% during the quarter, driven by increased demand for sunflower and mustard oils. Cooking oil has largely resisted the broader slowdown in branded consumer goods due to its essential nature despite brands increasing prices in recent months to offset rising ingredient costs, as per analysts. AWL's food unit, which sells staples such as rice and wheat, reported revenue growth of 9%, driven by strong demand and distribution through e-commerce and trade channels. AWL's chief executive officer, Angshu Mallick, told Reuters in February that the company expects sales to grow 10% in fiscal 2026, led by demand from 10-minute delivery apps and tax cuts. Overall revenue rose about 38% in the fourth quarter. The company changed its name from Adani Wilmar in March after Adani Group exited the joint venture by selling its stake to Singapore's Wilmar International . Rival Marico ( opens new tab, which sells the Saffola brand of cooking oil, will report results on Friday. The company is eyeing revenue growth in the low single digit for the three months ended March following three straight quarters of profit fall. ($1 = 84.9880 Indian rupees)
Yahoo
21-02-2025
- Yahoo
‘I was very, very lucky,' man recalls events leading up to Manoa assault
MANOA, Hawaii (KHON2) — An investigation is underway after a man suffered multiple apparent stab wounds at Manoa police and Emergency Medical Services were called to the incident on Thursday, Feb. 20 shortly before 10:30 a.m. Tim and Carolyn Stanton, owners of Manoa School of Music and the Arts are counting their blessings after 79-year-old Tim was attacked inside the school. MFD: First responders on scene of Kaanapali explosion He said he went in early to hang an award then stepped out to go to the market. When he returned, he was jumped by an intruder. 'I was lucky. I was very, very lucky,' he said. 'I'd left some tools lying around because I was doing this job, and I had my toolkit, I had a tape measure, a hammer and an all AWL, which is a carpenter's sort of device for making holes in the wall.' He said he was attacked with the all AWL in the right and left shoulder. '[He] was going for my face so I put my hand up and he stabbed me through the hand into the cheek and it hit the tooth,' Tim added. Tim screamed and the man ran off. Paramedics administered advanced life support for minor puncture wounds from the AWL the intruder used. Now, Tim and Carolyn want Alexander and Baldwin, Manoa Marketplace landlord, to step up security. 'We need A&B's help.' A&B issued the following statement: Shortly before 11:00 am, there was a report of an alleged incident at Manoa Marketplace. HPD responded, investigated and left the center at approximately 12:45 p.m. Any questions should be referred to HPD. A&B Spokesperson In the meantime, the owners said they are being proactive, purchasing external cameras to ensure care for parents and students. Check out more news from around Hawaii KHON2 has made an additional request to A&B regarding security and are waiting for a response. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
