Adani Wilmar Stock: Adani Wilmar Limited (AWL) has overtaken Hindustan Unilever Limited (HUL) to become the largest FMCG company in India. Sharing its March quarter results, the company said, Adani Wilmar reported operating revenue of ₹ 54,214 crore in FY22, while HUL’s annual revenue for FY2021-22 is ₹ 51,468 crore.
On the other hand, the company has also informed about buying basmati rice brand Kohinoor, after which the company has become the most powerful in this sector. However, the shares of Adani Wilmar are seeing a decline today. Adani Wilmar’s shares have fallen by 5 to reach Rs 716 on BSE today. The company’s shares are in the lower circuit. Its market cap has come down to one lakh crores.
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March quarter results
Adani Wilmar’s net profit fell 26 per cent to Rs 234 crore during the January-March period. Revenue from operations, however, grew 40 per cent to Rs 14,960 crore during the period. Explain that due to the war and inflation between Ukraine and Russia, the supply and demand of edible oil has been affected. Due to this, the net profit of Adani Wilmar has declined. Adani Wilmar is the leading company in the edible oil market. Its famous brand is Fortune.
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Adani bought Kohinoor
Adani Wilmar has bought packaged food brand Kohinoor from American company McCormick to expand the packaged food business. After this deal, Adani has the American company’s premium basmati rice brand, besides umbrella brands like Charminar and Trophy. Let us tell you that the total value of these brands is around Rs 115 crore.