Latest news with #AdaniWilmarLtd
Mint
29-04-2025
- Business
- Mint
Strong oilseed crop to keep India edible oil prices stable: AWL Agri Business
New Delhi: Edible oil prices in India, which rose in response to the government's decision to raise import taxes on cooking oils in September last year, are likely to remain stable this year, buoyed by robust domestic oilseeds harvest and steady global supplies, AWL Agri Business Ltd (formerly Adani Wilmar Ltd) said. The company has also been reducing packaged wheat flour prices in response to fresh crop arrivals and easing inflation, potentially boosting consumption. 'In FY26, the edible oil supply chain will remain stable globally as well as in India. India has done well in mustard seed, so mustard crop is very good. The upcoming monsoon season is going to be good. So, India will produce its average oilseeds. We don't see any price issue in oilseeds nor supply chain issue in oilseeds," Angshu Mallick, managing director and chief executive officer of the company, said in an interview with Mint . Also read: As gold prices hit record high, Tanishq rethinks wedding jewellery strategy Edible oils account for around 64% of the company's annual revenue, followed by packaged foods and other fast-moving consumer goods. The edible oil segment saw a 7% year-on-year volume growth in the March quarter, with a 45% increase in revenues, reaching ₹ 14,769 crore. The overall revenue of the company, known for its Fortune brand of edible oils, jumped 38% year-on-year to ₹ 18,230 crore in the January-March period, with an 8% underlying volume growth. Edible oil companies were forced to raise prices in the second half of FY25, following the government's move in September to increase the basic customs duty on various edible oils. This was done to shield local farmers from the impact of high global oilseeds production that could have made its way into the country, depressing prices. India relies heavily on imports to meet its domestic edible oil needs, with approximately 57% sourced internationally. According to government data released in August last year, India imported 16.5 million tonnes of edible oils in 2022-23, with domestic production fulfilling only 40-45% of the country's requirements. Also read: Rural reality check: Consumers turn cautious as aspiration meets inflation In the December quarter, the company raised prices of cooking oil by at least 20%, following the government's move to impose higher import duties on refined oils. The government raised the basic customs duty on crude soybean oil, crude palm oil and crude sunflower oil to 20% from 0%, resulting in an effective duty rate of 27.5% on these oils. The basic custom duty on refined palm oil, refined sunflower oil and refined soybean oil was increased to 32.5% from 12.5%, leading to an effective duty rate of 35.75% on refined oils. Basic customs duty is a tax levied on imported goods to protect domestic industries by increasing the cost of imports. The company sells edible oils such as soya, sunflower, mustard, rice bran, groundnut and cottonseed. The company also sells basmati rice and wheat flour. 'The duty hikes came in September. So, that hiked the entire value chain," he said. According to the company's full-year and March quarter results announced late Monday, palm oil volumes in the value-for-money segment experienced a negative impact during the second half of FY25 due to a significant price surge compared to other edible oils. However, excluding palm oil, the company reported a 6% year-on-year growth in branded edible oil volumes for FY25. Earlier this week, Mint reported a sharp decline of ₹ 5-7 per kg in wheat flour (atta) prices over the past month, attributed to the arrival of wheat from key producing states like Punjab, Haryana, Madhya Pradesh, Uttar Pradesh Rajasthan and Gujarat. Mallick said the company had responded to the dip in prices. Wheat prices have come down by 10-12% since early March, Mallick said. The company has reduced the price of all packaged flour sold under its Fortune brand by almost ₹ 4 per kilo. 'We have passed on the benefits to consumers in April and gradually, every week, we are reducing prices," he said. 'Rice prices are also low and whatever reduction was to be given, we passed it on in March itself. Dal and besan prices are down too, sugar is also stable. Overall, all the prices are under control," he added. Mallick said consumption metrics looked broadly stable with food inflation trending downwards. 'Going forward, consumption should improve because income tax benefits will kick in which will mean more cash in the hand of consumers. Overall inflation as well as food inflation is coming down. Thirdly, our job market will be better because the government investments will go up. So, more cash in hand will give a better consumption story," he added. Also read: Protein powers new launches for dairy and snacking companies Government data released earlier this month revealed that India's retail inflation eased in March to its slowest pace in over six years, primarily due to lower food prices. Food inflation in March rose by 2.69% year-on-year, a significant decrease from 3.75% in February and 8.52% the previous year. Last year, Adani Enterprises Ltd announced its exit from the 26-year joint venture with Singapore's Wilmar group. Following the exit, the company transitioned to a new name—AWL Agri Business Limited. It also unveiled a new brand logo earlier this week.
The Print
29-04-2025
- Business
- The Print
AWL Agri Business Q4 profit up 22% to Rs 191 crore
The total income rose to Rs 18,291.63 crore in the January-March quarter of the last fiscal from Rs 13,327.05 crore in the corresponding period of the preceding year, according to a regulatory filing. Its net profit stood at Rs 156.75 crore in the year-ago period. New Delhi, Apr 28 (PTI) Edible oil major AWL Agri Business Ltd on Monday reported a 22 per cent increase in its consolidated net profit to Rs 190.66 crore for the quarter ended March. The net profit jumped to Rs 1,225.81 crore in the last fiscal from Rs 147.99 crore in the 2023-24 financial year. The total income increased to Rs Rs 63,910.28 crore in 2024-25 from Rs 51,518.71 crore in the preceding year. AWL Agri Business Ltd, formerly known as Adani Wilmar Ltd, sells edible oils and other food products under Fortune brand. PTI MJH RHL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
&w=3840&q=100)
Business Standard
28-04-2025
- Business
- Business Standard
Q4 results today: UltraTech, TVS Motor, Adani Green, IDBI, IRFC on Apr 28
UltraTech Cement, TVS Motor Company, IDBI Bank, Indian Railway Finance Corporation (IRFC), and Aditya Birla Sun Life AMC will be among 49 companies to release their earnings report for the fourth quarter (Q4) of the financial year 2024-25 (FY25) on Monday. These companies will also release their company results for the entire financial year that ended on March 31, 2025. Three Adani group companies: Adani Green Energy, Adani Total Gas, and AWL Agri Business Limited (formerly Adani Wilmar Ltd) will be releasing their financial results today. Other companies releasing their performance report for the January-March quarter include TVS Holdings, Glenmark Life Sciences, Castrol India, IIFL Securities, and others. TVS Motor Q4 result preview Market review April 28 On Friday, April 25, 2025, Indian equity markets experienced a significant downturn, primarily influenced by escalating geopolitical tensions between India and Pakistan following the Pahalgam terror attack. The BSE Sensex declined by 588.90 points, or 0.74 per cent, closing at 79,212.53, while the NSE Nifty 50 fell by 207.35 points, or 0.86 per cent, to settle at 24,039.35. By 6:55 AM today, GIFT Nifty futures were trading at 24,228, about 90 points above the Nifty futures' last close. The Indian stock market today is likely to be guided by fourth quarter earnings, foreign investor flows, updates on US tariff negotiations, developments in the US-Russia conflict, and any fresh tensions with Pakistan. Follow the latest market updates here: List of firms releasing Q4 FY25 results on April 28 Aditya Birla Sun Life AMC Ltd Adani Green Energy Ltd Adani Total Gas Ltd AWL Agri Business Limited (formerly Adani Wilmar Ltd) Benaras Hotels Ltd Castrol India Ltd Consolidated Construction Consortium Ltd Central Bank of India CSB Bank Ltd Dharni Capital Services Ltd Dolphin Offshore Enterprises (India) Ltd Enbee Trade & Finance Ltd Enkei Wheels (India) Ltd Fino Payments Bank Ltd Firstsource Solutions Ltd Glenmark Life Sciences Ltd Go Digit General Insurance Ltd Greenply Industries Ltd Hatsun Agro Product Ltd Hexagon Nutrition Ltd IDBI Bank Ltd IIFL Securities Ltd IndiGrid Trust Integrated Capital Services Ltd Indian Railway Finance Corporation Ltd KFin Technologies Ltd KPIT Technologies Ltd Nippon Life India Asset Management Ltd Nitco Ltd Oberoi Realty Ltd Plastiblends India Ltd PNB Housing Finance Ltd Regency Trust Ltd RPG Life Sciences Ltd Sanghi Industries Ltd SecMark Consultancy Ltd Shiva Cement Ltd Shree Digvijay Cement Co Ltd Shree Ganesh Forgings Ltd Shree Ram Urban Infrastructure Ltd Tanfac Industries Ltd Timescan Logistics (India) Ltd Trishakti Industries Ltd TVS Holdings Ltd TVS Motor Company Ltd UCO Bank UltraTech Cement Ltd Veefin Solutions Ltd Vimta Labs Ltd
