Latest news with #edibleoils
Yahoo
18-07-2025
- Business
- Yahoo
Wilmar to become AWL Agri majority shareholder
Wilmar International is set to become the majority owner of India-based AWL Agri. The Singapore group has agreed to buy more shares in the Fortune edible-oils maker from Indian conglomerate Adani Enterprises. Wilmar International and Adani Enterprises had been partners in the former Adani Wilmar venture until December. Adani Enterprises decided to leave the alliance to invest further in energy, utilities, transport and logistics. At the time, Wilmar International struck a deal buy 31.1% of the venture, which has been renamed AWL Agri. A month later, Adani Enterprises sold another 13.5% stake. In a stock-exchange filing yesterday (17 July), Wilmar said it held 43.9% of AW Agri, with Adani Enterprises retaining 30.4%. Wilmar has agreed to purchase another tranche of shares, representing a further 11-20% of AWL Agri, at Rs275 ($3.19) a share. When this new deal is finalised, Wilmar will hold between 54.9% and 63.9% of the business. The company said it will 'endeavour to bring in strategic partners/ identified investors' for the chunk of the new stake it does not take up. The remaining 10.4% Adani Enterprises owns in AWL Agri will be sold 'to a set of pre-identified investors', the Indian group said. Established in 1999, the now AWL Agri is headquartered in Ahmedabad. The business runs 24 factories in 15 cities. Its operations span edible oils, a wider range of food products and a third division called Industry Essentials, which takes in chemicals. Earlier this week, AWL Agri reported its fiscal first-quarter results covering the three-month period to the end of June. Revenue rose 22% to Rs17.06bn despite a 2% fall in volumes. The company booked higher revenues across its three divisions, although volumes from its edible oils and food and FMCG units fell. 'The company witnessed a temporary volume decline, primarily influenced by the consolidation of its regional rice operations and muted consumer demand. Encouragingly, the core categories delivered healthy volume growth and revenue rose 21% year on year, driven by higher edible oil realisations,' MD and CEO Angshu Mallick said. Profit after tax fell 24% to Rs238m. Last month, Wilmar agreed to acquire UK consumer goods company PZ Cussons' 50% equity stake in their Nigerian edible-oils joint venture for a cash consideration of $70m. "Wilmar to become AWL Agri majority shareholder" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Entrepreneur
27-06-2025
- Business
- Entrepreneur
AWL Agri Business To Expand Digital & Rural Reach
Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. AWL Agri Business recorded a strong FY25 with revenues of INR 63,672 crore, marking a 24 per cent year-on-year (YoY) growth. The growth has been on the back of a robust commodity risk management framework that helped navigate raw material price volatility, safeguarding margins and ensuring business sustainability. The company remains focused on reinforcing leadership in edible oils, scaling high-growth food categories, expanding digital and rural reach, and driving value through a lean, integrated model. Net profit stood at NR 1,226 crore, a recovery from the previous year's INR 148 crore. The operating EBITDA stood at nearly INR 2,500 crore. Alternate channels generated over INR 3,600 crores in revenue in FY'25, led by nearly 90 percent YoY growth in Quick Commerce sales in FY '25. "This performance underlines our resilience and ability to navigate volatility in commodity markets, global supply chains, and inflationary pressures," the company said in a statement. The company stands among the top three players in key staples such as edible oils, wheat flour, basmati rice, besan, and soya nuggets, making it amongst the top-ten food FMCG companies of India. "In FY25, we scaled our rural presence to over 50,000 towns—a tenfold increase from FY22—and increased our direct retail coverage to 8.6 lakh outlets. We are on track to achieve our target of 10 lakh outlets by FY27," the statement added. As part of expansion, the FMCG company acquired GD Foods (Tops), boosting portfolio in sauces, pickles, noodles, and expanding footprint in North India with eight new categories. With a focus on premiumization, it launched products to expand kitchen solutions range. "We have commissioned a new 80-acre integrated food park in Gohana, adding 6.27 lakh MT capacity across oils and staples. We also expanded pulses and besan capacity across three plants," a company spokesperson said.
Bloomberg
03-06-2025
- Business
- Bloomberg
India Cuts Import Tax on Crude Edible Oils to Control Prices
Takeaways NEW Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here. India halved its basic import duty on crude edible oils, while keeping the tax on refined forms unchanged, in a move to control local prices and support the processing industry.
Bloomberg
03-06-2025
- Business
- Bloomberg
Palm Oil Jumps on Demand Prospects After India Cuts Import Duty
Palm oil climbed to the highest level in almost three weeks on expectations for higher demand after top buyer India cut import duties. Futures in Kuala Lumpur rose as much as 2.6% after India announced on Friday a reduction to levies on edible oils including palm and sunflower in an effort to lower retail prices. The market was closed on Monday for a holiday.
Malay Mail
31-05-2025
- Business
- Malay Mail
India slashes import tax on crude edible oils, include palm, to 10pc to boost domestic demand
NEW DELHI, May 31 — India has reduced the basic import tax on edible oils by 10 percentage points, a move that is expected to improve domestic retail cooking oil demand. This move reduces the basic duty on crude palm oil (CPO), crude soybean oil and crude sunflower oil to 10 per cent from 20 per cent. The effective import duty, which includes agriculture infrastructure and development cess and social welfare surcharge, on crude edible oils will now be 16.5 per cent compared with 27.5 per cent earlier. The Indian Vegetable Oil Producers' Association (IVPA) welcomed the government's decision to slash the duty on crude edible oil imports while leaving it unchanged for refined oils. 'This move will not just strengthen the domestic refining capacities of Indian refiners but also ensure a fair price to oilseed farmers and a fair price to the consumers,' the trade body's president, Sudhakar Desai, said in a statement. India is the world's biggest importer and second-largest consumer of edible oils. Nepalese refiners have significantly increased their sales to India under the South Asian Free Trade Area (SAFTA) rules since the Indian government raised the basic customs duty on crude edible oils from zero to 20 per cent and from 12.5 per cent to 32.5 per cent on refined products in September last year. Indian oilseed crushers had said the narrow duty differential between the crude and refined varieties was hurting their interests. — Bernama
