Adani Wilmar Sees ‘Fortune’ Key To Double Its Revenue From Consumer Business In Five Years
Adani Wilmar Ltd. has recalibrated its strategy to leverage on its flagship brand, with an aim to double its revenue from the consumer business in five years.
The company, a joint venture of Gujarat-based Adani Group and Singapore’s Wilmar International Ltd., had clocked revenue of Rs 28,000 crore in 2018-19, Rs 18,000 crore of which came from the consumer business and the rest from institutional segment.
Claiming that 'Fortune' is already a leader in the packaged edible oil segment, Adani Wilmar’s Marketing Head Ajay Motwani said the company is leveraging the brand to expand in the Rs 2,000-crore food segment.
"We are growing at a high double-digit rate of 15-16 percent, despite subdued market sentiments. We will double our consumer business revenue in the next five years," Motwani said.
He was also hopeful that the company would be able to double its total revenue in the next five years. Edible oils, which contribute more than 90 percent of Adani Wilmar's total revenue, continue to be a mainstay for the company, he said.
As a brand, 'Fortune' is worth Rs 14,000 crore for Adani Wilmar.
In the last one year, the company has focused on research and development and decided to launch at least one new product every month, Motwani said. The company has launched new products in the food business, which contributes about Rs 2,000 crore in its topline.
Adani Wilmar currently retails wheat flour, rice and soya chunks in its food category.
"We have forayed into pulses and ready-to-cook food. We are also expanding into new categories, including snacking, within the ready-to-cook segment to boost the (food) category," Motwani said.