The FMCG major Adani Wilmar has witnessed its revenues in the food business are skyrocketing three times faster than the regular edible oil business in the next five years, courtesy of growing consumer preference for packaged branded foods.

The company’s deputy CEO, Angshu Mallick has stated that the Fortune brand in its 20-year history has evolved as the country’s No.1 edible oil brand, but the company is expecting a drastic transformation in the coming years in the revenue mix with its strong food portfolio.

Interacting with the media on marking 20 years of Fortune, Angshu states, “Of the total estimated revenues of about ₹30,000 crores, edible oils under the Fortune brand are still about 80 percent of the business. The food business is about ₹2,000 crore, which we expect to grow three times faster than edible oils due to increased consumer preference for packaged branded foods.”

Furthermore, Angshu announced that unlike the past 20 years when the growth has come from commodity and edible oil business, the coming five years would witness a CAGR of about 15 percent riding on the growth in the food business which is expected to elevate the company’s complete turnover to around Rs.50,000 crore.

Angshu Says, “This year we have seen oil prices going up by about 20 percent, which has also reflected in our turnover. Even if the volumes may have gone down due to Covid-19 disruptions, but the price rise in recent months reflects on the higher turnover.” He further adds, “We have sufficient capacities to meet the growing demand for the next three years. But we will continue to focus on local oils such as mustard oil. Going forward we will invest more in mustard oil and drive the atmanirbhar objective in the edible oil sector. If farmers in Punjab and Haryana turn to mustard seed cultivation it will be a big boost,”

The FMCG has initiated its food portfolio with besan in 2013 and has expanded to package basmati rice, wheat flour, pulses, sugar, and ready-to-cook khichdi. Lately, they have even launched soya chunks.

Now the brand offers edible oils that include sunflower, soya, cottonseed, groundnut, mustard, rice bran, and other functional oils like, Fortune Xpert Pro Sugar Conscious Oil. The company also has its hands-on personal care category with its handwash, soap, and sanitizers under the Alife brand.