Adani Wilmar eyes 10% sales growth next fiscal, buoyed by tax cuts and grocery app demand
Mumbai: Adani Wilmar expects its sales volumes to increase by around 10 % in the next fiscal year, Reuters reported.
CEO Angshu Mallick cited the demand for 10-minute grocery delivery apps and a boost in urban consumer spending following tax cuts.
Executives across consumer goods and automobile sectors anticipate that India's planned reductions in personal income tax will leave consumers with more disposable income, ultimately driving higher consumption.
"Whenever consumers have excess money, we have found they first go and buy good food," Mallick was quoted as saying by Reuters.
He noted that the company's food business is projected to grow by over 20 % in the fiscal year ending March 2026.
In the third quarter, Adani Wilmar recorded a 5 % rise in overall sales volume, with its edible oil segment growing by 4 %.
The edible oil division, which produces 'Fortune' cooking oil, is expected to expand by at least 6 % next year, contributing to the broader group’s targeted overall growth of around 10 %, Mallick added.
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