The Telegraph
Friday , July 4 , 2014
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Adani Wilmar sets target

Calcutta, July 3: Adani Wilmar Ltd hopes to register a 15-18 per cent growth in turnover in the current fiscal against Rs 17,300 crore in 2013-14.

The Ahmedabad-based company will also invest Rs 600 crore towards increasing its refining and packing capacities in 2014-15. Adani Wilmar has 16 edible oil refineries across India, including ones in Haldia and Mangalore.

The company has 10 crushing units and 16 packing units. The 50:50 joint venture between India’s Adani Group and Singapore-based Wilmar International has also commissioned one of the country’s first port-based edible oil refinery in Mundra, Gujarat.

Adani Wilmar retails edible oil under the Fortune brand.

The company is also focusing on diversification of products. The company is looking to foray into the branded basmati and non-basmati rice business by December.

“We see the percentage changing and the share of our non-edible oil portfolio going up. Rice, pulses and besan is expected to add around Rs 500 crore more in 2014-15,” said Angshu Mallick, chief operating officer, Adani Wilmar.

“Our plan is two-fold. For basmati, we have identified 3-4 mills and will be contracting them. For the non-basmati rice, we will have to go to every local hub,” Mallick said.

He was speaking on the sidelines of the launch of Fortune soya chunks, which will be manufactured at its Vidisha facility in Madhya Pradesh.