Adani Wilmar Limited IPO

About the Business

Incorporated in 1999 as a joint venture between Adani Group and the Wilmar Group, Adani Wilmar is an FMCG food company offering most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses, and sugar. The company also offers a diverse range of industry essentials, including oleochemicals, castor oil and its derivatives, and de-oiled cakes. The company's products are offered under a diverse range of brands across a broad price spectrum and cater to different customer groups.

The company's product portfolio is categorized into (i) edible oil, (ii) packaged food and FMCG, and (iii) industry essentials. "Fortune", the company's flagship brand, is the largest selling edible oil brand in India. Recently the company has focused on value-added products and has launched products such as edible oil products, rice bran health oil, fortified foods, ready-to-cook soya chunks, khichdi, etc in line with this. The company has strong raw material sourcing capabilities and was India's largest importer of crude edible oil as of March 31, 2021.

The company operates 22 plants located across 10 states in India, comprising 10 crushing units and 19 refineries. The company's refinery in Mundra is one of the largest single-location refineries in India with a capacity of 5,000 MT per day. In addition to the 22 plants Adani Wilmar, also used 36 leased tolling units as of Sep 31, 2021, for additional manufacturing capacities.

The company's distributors are in 28 states and 8 union territories throughout India, catering to over 1.6 million retail outlets. As of September 30, 2021, the company had 88 depots in India, with an aggregate storage space of approx. 1.8 million square feet across the country.