Adani Wilmar

After the stock of Gautam Adani-led edible oil giant Adani Wilmar (AWL) achieved a record high of Rs 802.80 on the BSE in Tuesday’s trade, it joined the select group of companies with a market capitalization (m-cap) of Rs 1 trillion.

According to BSE data, at 10:40 a.m., AWL was ranked 50th with a market capitalization of Rs 1.04 trillion.

AWL is the Adani Group’s eighth company to reach the coveted Rs 1 trillion market capitalization level. Others with market caps exceeding Rs 1 trillion include Adani Green Energy (Rs 4.52 trillion), Adani Transmission (Rs 2.95 trillion), Adani Total Gas (Rs 2.76 trillion), Adani Enterprises (Rs 2.56 trillion), Adani Ports and Special Economic Zone (Rs 1.86 trillion), and Adani Power (Rs 1.10 trillion).

AWL is India’s major manufacturer of edible oil under the Fortune brand, and is a joint venture between the Adani and Wilmar groups. In addition to oil, the corporation sells wheat flour, rice, lentils, sugar, and packaged goods.

AWL’s stock has increased by 249 percent since its IPO price of Rs 230 a share. The company generated Rs 3,600 crore through an initial public offering (IPO) on February 8, 2022, and launched on the stock exchanges. The stock has risen by 92 percent in the last month, compared to a 0.25 percent fall in the S&P BSE Sensex.

AWL announced on Monday that the company’s board of directors will meet on Monday, May 2, 2022, to evaluate and approve the audited financial results (standalone and consolidated) for the quarter and year ended March 31, 2022, among other things.

AWL’s consolidated net profit of Rs 211 crore increased by 66 percent quarter-on-quarter (QoQ) in the October-December quarter (Q3FY22). The company’s consolidated revenues increased by 41% from the previous quarter to Rs 14,379 crore.

Institutional investors, meanwhile, have reduced their share in AWL since its IPO, with their holdings falling to 2.42 percent at the end of the March 2022 quarter. According to the shareholding pattern data, they owned 3.98 percent of AWL at the time of listing. Individual shareholders’ holdings in AWL, on the other hand, grew to 7.6% from 6.35 percent, according to data.