HUL, which has been holding the top spot, in terms of yearly revenue, for years, reported Rs 51,468 crore sales for FY2021-22.
Edible oils, from where AWL rakes in a large chunk of its revenue, contributed nearly 84 per cent towards its top-line and drove its sales for the year. At Rs 45,401 crore, sales edible oils segment jumped 47.3 per cent YoY from Rs 30,818 crore in FY2020-21.
Industry essentials business that forms nearly 11.4 per cent of its sales, grew 42 per cent to Rs 6,191.5 crore from Rs 4,366 crore.
While its recently ventured packaged foods business surged 38 per cent to Rs 2,621.3 crore, up from Rs 1905.6 crore in the previous financial year, profitability remained a concern. As per its filings with the BSE, the segment posted Rs 22.5 crore loss at the gross level.
According to Angshu Mallick, Managing Director & Chief Executive Officer at AWL, the company gained share in the edible oil and packaged foods market. At end-2021, the company was enjoying 18.9 per cent share of the branded edible oil market and was ahead of the nearest completion by at least 10 percentage points.
“We have delivered a steady growth in spite of the challenging macro environment. The food & FMCG segment registering double digit growth. We have continued to improve our market share across edible oil & food categories,” said Mallick.
Like its top-line, AWL’s profitability was primarily driven by its edible oil business. The largest edible oil importer, refiner and player in the branded edible oil market in India, got nearly Rs 1,289 crore from its edible oil business at the gross level. While, industry essentials business provided higher gross margin – at 6.6 per cent – compared to 2.84 per cent for edible oil.
However, AWL’s profit margins remained lower than the FMCG industry average. At 1.48 per cent, its net profit margin slipped further by 48 basis points from 1.96 per cent it had posted in FY2020-21. During the year, AWL’s net profit stood at Rs 803.7 crore against Rs 728.5 crore in the previous year.
According to Mallick, the company is well on its way to implement its “go-to-market strategy focused to capture the rural growth story.”
“We will continue to invest in our brand, distribution, sourcing and manufacturing capabilities. Going forward, we will focus more on inorganic growth and strategic investments in the foods space,” Mallick added.
