Adani Wilmar

Last updated
Adani Wilmar Limited
Type Public
ISIN INE699H01024
Industry FMCG
Founded1999 (1999)
Founder Gautam Adani
Headquarters
Ahmedabad
,
India
Area served
Worldwide
Key people
Products
Brands
  • Fortune
  • Kohinoor
RevenueIncrease2.svg₹58,446.20 crore (US$7.3 billion) (2023) [3]
Decrease2.svg₹1,302.50 crore (US$160 million) (2023)
Decrease2.svg₹582.10 crore (US$73 million) (2023)
Total assets Decrease2.svg₹20,979.80 crore (US$2.6 billion) (2023) [4]
Total equity Increase2.svg₹8,165.80 crore (US$1.0 billion) (2023)
Number of employees
1190(Approx.) (2022)
Parent
Website www.adaniwilmar.com OOjs UI icon edit-ltr-progressive.svg
Footnotes /references
[5]

Adani Wilmar Limited (AWL) is a multinational food and beverage conglomerate based in India. [6] It is a joint venture between Adani Enterprises and Wilmar International and India's largest processor of palm oil. [7] [8] The company was founded in 1999 and has its headquarters in Ahmedabad, India. [9] As of date the group has 22 plants located across 10 states in India. [10] It exports its products to the Middle East, Africa, and South East Asia. [11]

Contents

History

Adani Wilmar Ltd. was incorporated in 1999 as an equal joint venture between Adani Enterprises and Singapore based Wilmar International. [12] [13]

Adani Wilmar's brand Fortune is an edible oils & foods brand. [12] Between 2014 and 2017, the company launched other packaged products such as rice, soya chunks, and flour under the same brand name. [14] Between 2019 and 2020, the company entered the personal care market under the brand Alife. During the same period, AWL entered the Ready to cook (RTC) products market. [11] As of 2021, the company had 18.3% market share of the branded edible oil market in India. [15] [16]

Adani Wilmar opened its three-day initial public offering (IPO) on 27 January 2022 and the issue closed on 31 January 2022. The listing happened on 8 February 2022. [12]

Subsidiary, acquisition & joint ventures

In 1993, BEOL (Bangladesh Edible Oil Limited), was established in Dhaka, Bangladesh, as a 100% foreign-owned joint venture between Wilmar International of Singapore and Adani Group of India. [17]

In 2005, Adani Wilmar acquired Mantralayam [18] and Haldia plants (refining). [19] [20] [21] From 2006 to 2009, AWL acquired multiple crushing and refining units at Bundi, Shujalpur, Nagpur and Neemuch, it also acquired Rajshri Packagers (refining), Acalmar Oils and Fats and Satya Sai Agroils (refining). [22] In 2011, the AWL group acquired Alwar and Mundra castor units (Crushing, refining and industry essentials). It also acquired Gokul Refoils & Solvent (Edible oil refining co.). In 2018, the AWL group acquired Refinery from Louis Dreyfus Commodities, Edible oil refinery from Cargill and Rice plants from Ferozepur Foods. Joint ventures of AWL include KOG-KTV Foods Pvt ltd, KTV Health Foods Pvt. Ltd and Visakha Polyfab Pvt Ltd. [22]

In 2022, Adani Wilmar acquired Kohinoor, Trophy Royale, and Charminar rice brands from Mccormick & company. [23]

Social responsibility

Adani Wilmar Limited, along with Adani Foundation, the CSR arm of Adani Group runs Fortune SuPoshan initiative to work for malnutrition and anemic children. [24] [25]

Criticism and controversies

In 2016, the Government of Maharashtra released an official statement indicating that Adani Wilmar had contravened the regulations established by the Food and Drug Administration, Maharashtra State while promoting its blended edible vegetable oil, known as Fortune Vivo. The company had made claims about the oil's medicinal attributes, including its ability to regulate diabetes. Madan Yerawar, Minister of State for FDA, a raid on Adani Wilmar's storage facility in Panvel was carried out after identifying deceptive information printed on both product advertisements and packaging. [26]

The Adani Group is also developing a major port in Myanmar, leasing land from a corporation owned by the Myanmarse military." [27]

In August 2021, SEBI put a hold on Adani Wilmar's IPO. [28] [29] While SEBI did not provide a specific reason for the hold, reports from the media indicate that the IPO was halted due to a Foreign Portfolio Investment (FPI) investigation into the flagship company of the Adani group, Adani Enterprises. [30]

In June 2022, C4ADS said in its report that food companies including Adani Wilmar "continue to enable forced labor through their indiscriminate import of tainted palm oil". [31]

On 9 February 2023, Himachal Excise Department Raided Adancompanymwouse. [32] s in the state

Environmental impact

The nonprofit Adani Watch says that "through its joint venture with Wilmar, Adani is a major refiner and trader in palm oil, an industry responsible for devastating huge areas of rainforest in South-East Asia. [27]

In February 2023, Adani Wilmar's joint venture with KTV Group, was penalised by the Indian supreme court for violations of coastal regulations in Tamil Nadu. The company had constructed an oil storage facility and pipeline and it was claimed by local fisherman that oil leaks from the 7 kilometer pipeline were killing fish in the area. The court ordered that the facility be demolished. [33]

Related Research Articles

<span class="mw-page-title-main">Reliance Industries</span> Indian multinational conglomerate

Reliance Industries Limited is an Indian multinational conglomerate, headquartered in Mumbai. Its businesses include energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Reliance is the largest public company in India by market capitalisation and revenue, and the 100th largest company worldwide. It is India's largest private tax payer and largest exporter, accounting for 7% of India's total merchandise exports.

<span class="mw-page-title-main">Dalda</span> Vegetable ghee popular in South Asia

Dalda is a brand of vegetable oil popular in South Asia.

<span class="mw-page-title-main">Goodman Fielder</span> Multinational food manufacturer

Goodman Fielder is an Australian manufacturer, marketer and distributor of bread, small goods, dairy products, margarine, oil, dressings and various food ingredients. Its main operations are in New Zealand, Australia, Fiji, Papua New Guinea, and New Caledonia, with over 40 manufacturing sites. The company employs over 5,000 people, and has more than 120 brands.

New Delhi Television Ltd is an Indian news media company focusing on broadcast and digital news publication. The company is considered to be a legacy brand that pioneered independent news broadcasting in India, and is credited for launching the first 24x7 news channel and the first lifestyle channel in the country. It owns and operates the broadcast news channels of NDTV India and NDTV 24x7. The two channels of the company have received 32 Ramnath Goenka Excellence in Journalism Awards.

<span class="mw-page-title-main">Adani Group</span> Indian multinational conglomerate

Adani Group is an Indian multinational conglomerate, headquartered in Ahmedabad. Founded by Gautam Adani in 1988 as a commodity trading business, the Group's businesses include port management, electric power generation and transmission, renewable energy, mining, airport operations, natural gas, food processing and infrastructure. More than 60 percent of the Adani Group's revenue is derived from coal-related businesses.

Bharti Enterprises Limited is an Indian multinational conglomerate, headquartered in Delhi. It was founded in 1976 by Sunil Mittal. Bharti Enterprises owns businesses spanning across telecommunications, manufacturing, insurance, real estate, hospitality, and food. The group's flagship company, Bharti Airtel, is a telecom service provider with operations in more than 18 countries across Asia, Africa and Europe. The company ranks amongst the top two mobile network operators globally by number of subscribers.

ICICI Lombard General Insurance Company Limited is a general insurance company in India. It is engaged in general insurance, reinsurance, insurance claims management and investment management. The company has a Gross Written Premium (GWP) of ₹217.71 billion. The firm offers policy insurance and renewal through its intermediaries and website. It markets assurance products including Car Insurance, Health Insurance, International Travel Insurance, Overseas Student Travel Insurance, Two Wheeler Insurance, Home Insurance and Weather insurance. ICICI Lombard has 273 branches and 840 virtual offices spread across the nation.

Wilmar International Limited is a Singaporean food processing and investment holding company with more than 300 subsidiary companies. Founded in 1991, it is one of Asia's leading agribusiness groups alongside the COFCO Group. It ranks amongst the largest listed companies by market capitalisation on the Singapore Exchange (SGX), being the second largest as of September 2010. It was ranked 211th in the Fortune Global 500 list in 2020. It was ranked 3rd in the World's Most Admired Company by Fortune in 2019.

<span class="mw-page-title-main">Motilal Oswal Financial Services</span> Indian diversified financial services firm

Motilal Oswal Financial Services Limited is an Indian financial services company offering a range of financial products and services. The company was founded by Motilal Oswal and Raamdeo Agrawal in 1987.

Godrej Agrovet Limited is an Indian company which operates in the animal feed and agribusiness sectors. The company, which is part of the highly diversified Godrej Group, had a turnover of around Rs. 3100 Cr in FY 2012–13. Godrej Agrovet's chairman is Nadir Godrej. The company's subsidiary, Astec LifeSciences, manufactures agrochemicals.

Religare Enterprises Limited (REL) is an Indian investment and financial services holding company, headquartered in New Delhi. REL is listed on National Stock Exchange of India and Bombay Stock Exchange. It is registered with the Reserve Bank of India (RBI).

<span class="mw-page-title-main">Haldia Petrochemicals</span> Indian petrochemical company

Haldia Petrochemicals Ltd., often referred to as HPL, is one of the largest petrochemical companies in India. HPL which began commercial production in 2000, has its headquarters located in Kolkata, West Bengal, India. It has a large petrochemical plant based out of Haldia in Eastern India. The company as of 2018 held the position of being the fourth largest player in the domestic petrochemical market and enjoyed a dominant position in Eastern India.

<span class="mw-page-title-main">Adani Enterprises</span> Indian multinational holding company

Adani Enterprises Limited is an Indian multinational publicly-listed holding company and a part of Adani Group. It is headquartered in Ahmedabad and primarily involved in mining and trading of coal and iron ore. Through its various subsidiaries, it also has business interests in airport operations, edible oils, road, rail and water infrastructure, data centers, and solar manufacturing, among others.

Patanjali Foods Ltd, formerly known as Ruchi Soya Industries Ltd, is a manufacturer of consumer packaged foods in India.

Kuok Khoon Hong is a Singaporean business magnate, entrepreneur and philanthropist. He is the co-founder, chairman and CEO of Wilmar International, having built it into one of Asia's leading agribusiness groups, and the world's largest palm oil trader. He is also the chairman of Perennial Real Estate Holdings Ltd. He has an estimated net worth of US$3.7 billion as of Jan 2021.

<span class="mw-page-title-main">Indian Oil Corporation</span> Central Public Sector Undertaking

Indian Oil Corporation Limited is an Indian Public sector undertakings in India under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in New Delhi. It is a public sector undertaking whose operations are overseen by the Ministry of Petroleum and Natural Gas. Indian Oil is ranked 142nd on the Fortune Global 500 list of the world's biggest corporations as of 2022. It is the largest government owned oil producer in the country both in terms of capacity and revenue.It has consolidated refining capacity of 80.55MMTPA which it intends to increase to 107MMTPA by 2024-25. As of 31 March 2021, Indian Oil's employee strength is 31,648, out of which 17,762 are executives and 13,876 non-executives, while 2,776 are women, comprising 8.77% of the total workforce.

Pranav Adani is an Indian businessman and the director of Adani Enterprises. He is a member of the National Council of the Confederation of Indian Industry.

<span class="mw-page-title-main">Adani Green Energy</span> Indian renewable energy company

Adani Green Energy Limited (AGEL) is an Indian renewable energy company headquartered in Ahmedabad, Gujarat. It is owned by Indian conglomerate Adani Group. The company operates Kamuthi Solar Power Project, one of the largest solar photovoltaic plants in the world.

<span class="mw-page-title-main">RP-Sanjiv Goenka Group</span> Indian multinational company

RP-Sanjiv Goenka Group is an Indian multinational conglomerate headquartered in Kolkata. The founding was the result of a divesture by RPG Enterprises in 2011. The Group's businesses include power and energy, carbon black manufacturing, retail, IT-enabled services, FMCG, media and entertainment, infrastructure and education.

ICICI Prudential Life Insurance Company Limited is a life insurance company in India. Established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, ICICI Prudential Life is engaged in life insurance and asset management business. In 2016, the company became the first insurance company in India to be listed in the domestic stock exchanges.

References

  1. ↑ "Adani Wilmar". WSJ.
  2. ↑ "Adani Wilmar Products". adani wilmar.
  3. ↑ "Stock share price of Adani Wilmar". BSE India.
  4. ↑ "Stock share price of Adani Wilmar". Screener.in.
  5. 1 2 "Adani Wilmar shareholding". www.moneycontrol.com. Retrieved 2023-05-02.
  6. ↑ "How Adani Wilmar Became India's Second-largest FMCG Firm". Business Today. 2022-03-23. Retrieved 2022-09-18.
  7. ↑ "Adani Wilmar is Asia's Best Performing IPO". mint. 2022-05-26. Retrieved 2022-09-18.
  8. ↑ "Adani Wilmar". China Dialogue. Retrieved 2023-04-23.
  9. ↑ "Adani Wilmar shares fall over 8% in two sessions, here's why". Business Today. 2022-08-24. Retrieved 2022-09-18.
  10. ↑ "Adani Wilmar Limited report" (PDF). HDFC Sec.
  11. 1 2 "Adani Wilmar files for big-bang Rs 4,500 crore IPO; firm poised to be seventh listed company from Adani Group". Moneycontrol. 2 August 2021. Retrieved 2022-09-18.
  12. 1 2 3 "Fortune oil maker Adani Wilmar to open its ₹3,600 crore IPO on January 27". Business Insider. Retrieved 2022-09-18.
  13. ↑ "ICICI Securities initiates coverage on Adani Wilmar! Here's all you need to know". Business Today. 2022-05-19. Retrieved 2022-09-18.
  14. ↑ "Adani Wilmar betting big on rice segment; plans to acquire local brand". mint. 2022-03-23. Retrieved 2022-09-18.
  15. ↑ "Adani Wilmar IPO: Decoding the FMCG giant's hidden universe". Business Today. 2021-11-22. Retrieved 2022-09-18.
  16. ↑ "Adani Wilmar Ltd" (PDF). ICICI Direct.
  17. ↑ "How Adani Wilmar's little-known deal may propel its international biz in FY22". Business Today. 2021-12-02. Retrieved 2022-09-18.
  18. ↑ Sharon, Meghdoot (2004-05-05). "Adani Wilmar has big plans for Mantralayam unit". Business Standard India. Retrieved 2022-09-18.
  19. ↑ "Adani Group enters Bengal's ports sector; to modernise Haldia port at Rs 298 crore". TimesNow. 16 September 2022. Retrieved 2022-09-18.
  20. ↑ Reporter, B. S. (2009-03-28). "Adani Wilmar to double Haldia unit capacity". Business Standard India. Retrieved 2022-09-18.
  21. ↑ "Protest hits Adani plant, contract workers gherao officials". www.telegraphindia.com. Retrieved 2022-09-18.
  22. 1 2 "Adani Wilmar Limited" (PDF). ICICI Securities.
  23. ↑ "Adani Wilmar buys several brands, including 'Kohinoor' to strengthen food business". The Indian Express. 2022-05-03. Retrieved 2022-09-18.
  24. ↑ Focus, ABP Live (15 December 2022). "'Made A Name For Myself': SuPoshan Sanginis Drive Women Empowerment Narrative Across Nation". ABP Live. Retrieved 2023-04-22.
  25. ↑ "Extending aidto underfed children". The Times of India. 2022-12-24. ISSN   0971-8257 . Retrieved 2023-04-22.
  26. ↑ Deshpande, Alok (2016-12-07). "Adani's oil brand misled buyers: State govt". The Hindu. ISSN   0971-751X . Retrieved 2023-06-26.
  27. 1 2 Adani Watch (September 2020). "Dossier on the Adani Group's environmental and social record" (PDF).
  28. ↑ "SEBI holds Adani Wilmar IPO due to investigation against Adani Enterprises". Moneycontrol. 20 August 2021. Retrieved 2023-04-22.
  29. ↑ "Adani Wilmar IPO kept on hold by SEBI". www.thehindubusinessline.com. 2021-08-21. Retrieved 2023-06-26.
  30. ↑ "SEBI puts Adani Wilmar IPO on hold". Business Today. 2021-08-20. Retrieved 2023-06-26.
  31. ↑ Shereikis, Nick (2022-06-02). "Spoiled Fruit". C4ADS. Retrieved 2023-04-23.
  32. ↑ KO (2023-02-09). "More Trouble For Adani? Himachal Excise Dept Raids Adani Wilmar Warehouse - Kashmir Observer" . Retrieved 2023-04-22.
  33. ↑ "How an Adani Joint Venture Tried to Use Semantics to Circumvent Green Laws – at Cost of Fishers". The Wire. Retrieved 2023-04-23.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.