Adani Wilmar Ltd - Stock Valuation and Financial Performance

BSE: 543458 | NSE: AWL | Edible Oil | Mid Cap

Adani Wilmar Share Price

345.30 -5.30 -1.51%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on Adani Wilmar

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Adani Wilmar stock performance -

mw4me loader
P/E Ratio (SA):
204.42
Market Cap:
44,877.9 Cr.
52-wk low:
285.9
52-wk high:
509.4

Is Adani Wilmar Ltd an attractive stock to invest in?

1. Is Adani Wilmar Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Adani Wilmar Ltd is a good quality company.

2. Is Adani Wilmar Ltd undervalued or overvalued?

The key valuation ratios of Adani Wilmar Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Adani Wilmar Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Adani Wilmar Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Adani Wilmar:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Adani Wilmar Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 10.7%12%13%12%15.4%20.1%21.3%17.4%15.4%12.5%-
Value Creation
Index
-0.10.10.20.10.40.80.90.50.40.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 14,78014,79717,68622,97326,34728,80229,65737,09052,30255,26249,661
Sales YoY Gr.-0.1%19.5%29.9%14.7%9.3%3%25.1%41%5.7%-
Adj EPS 0.80.91.21.63.43.94.55.76.65.71.7
YoY Gr.-7.3%36.4%36.7%108.5%14.6%14.8%25.6%17.2%-13.8%-
BVPS (₹) 7.17.89.111.214.517.721.126.856.861.562.4
Adj Net
Profit
90100137188391448514646860742220
Cash Flow from Ops. 20111553.5-641,6011,6807937411,192514-
Debt/CF from Ops. 1013.537.5-411.41.12.942.14.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 15.8%16%23.1%5.7%
Adj EPS 24.1%10.8%8.3%-13.8%
BVPS27.1%33.5%42.8%8.3%
Share Price - - - -15.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
11.612.114.216.226.724.423.223.616.59.72.7
Op. Profit
Mgn %
2.43.332.93.64.253.63.53.32.3
Net Profit
Mgn %
0.60.70.80.81.51.61.71.71.61.30.4
Debt to
Equity
2.61.71.92.11.40.9110.30.3-
Working Cap
Days
6666686671797867657348
Cash Conv.
Cycle
28343327251943464910

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 23.06%

Debt to equity has declined versus last 3 years average to 0.27

Return on Equity has declined versus last 3 years average to 2.70%

Net Profit has been subdued in last 3 years 8.26%

Sales growth is not so good in last 4 quarters at -11.88%

Latest Financials - Adani Wilmar Ltd.

Standalone Consolidated
TTM EPS (₹) 1.7 0.7
TTM Sales (₹ Cr.) 49,661 51,896
BVPS (₹.) 62.4 62.9
Reserves (₹ Cr.) 7,985 8,038
P/BV 5.53 5.49
PE 204.42 528.91
From the Market
52 Week Low / High (₹) 285.85 / 509.40
All Time Low / High (₹) 221.00 / 878.35
Market Cap (₹ Cr.) 44,878
Equity (₹ Cr.) 130
Face Value (₹) 1
Industry PE 76.2

Management X-Ray of Adani Wilmar:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Adani Wilmar

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales14,78014,79717,68622,97326,34728,80229,65737,09052,30255,262
Operating Expenses 14,55214,37917,16222,32225,43527,70028,34535,76350,57753,646
Manufacturing Costs9511,0931,3101,5011,6618539531,9901,2431,496
Material Costs12,67712,29414,68919,52622,04525,14225,37031,51847,09149,543
Employee Cost 89123156178255206224321358343
Other Costs 8368691,0081,1181,4731,4991,7991,9341,8852,264
Operating Profit 2284185246519121,1021,3121,3271,7251,616
Operating Profit Margin (%) 1.5%2.8%3.0%2.8%3.5%3.8%4.4%3.6%3.3%2.9%
Other Income 198848113398120108104169257
Interest 347307314328298470569407525729
Depreciation 7285103119146182242268285319
Exceptional Items 0-25-2111000000
Profit Before Tax 8851663485665706097571,084825
Tax 42928118191205214103276217
Profit After Tax 456138230375365395655808607
PAT Margin (%) 0.0%0.4%0.8%1.0%1.4%1.3%1.3%1.8%1.5%1.1%
Adjusted EPS (₹)0.00.51.22.03.33.23.55.76.24.7
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 7768921,0351,2801,6552,0192,4123,0677,3787,988
Share Capital 109114114114114114114114130130
Reserves 6667789201,1661,5401,9052,2982,9527,2487,858
Minority Interest0000000000
Debt1,9481,5011,7872,3882,0251,7412,1612,6752,3852,125
Long Term Debt2167106124631909651,1461,02400
Short Term Debt1,7327911,1751,9251,8357761,0151,6512,3852,125
Trade Payables2,1972,2063,1132,9935,1416,6155,6975,1928,5697,617
Others Liabilities 3243726167058281,0151,3562,1411,9191,889
Total Liabilities 5,2444,9716,5507,3679,64911,39011,62713,07620,25119,619

Fixed Assets

Gross Block1,6811,7672,3272,1722,6363,4994,5474,7535,4765,961
Accumulated Depreciation3053914932223645457871,0511,3301,585
Net Fixed Assets1,3771,3751,8341,9502,2732,9543,7593,7034,1464,377
CWIP 438112370443570325531262323
Investments 1362554752535455106286288
Inventories1,2831,5952,6402,8963,7484,0423,8264,7787,3777,096
Trade Receivables7485566568421,2121,2629211,5152,1421,937
Cash Equivalents 1,0015556428941,0601,1891,4161,1884,4463,534
Others Assets6565546086628601,3201,3241,2561,5932,064
Total Assets 5,2444,9716,5507,3679,64911,39011,62713,07620,25119,619

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 20111553-641,6011,6807937411,192514
PBT 8851663485665706097571,084825
Adjustment 64209227166398394790340597653
Changes in Working Capital 153-176-293-528721850-485-62-261-824
Tax Paid -24-2-47-49-84-133-121-294-229-139
Cash Flow From Investing Activity 424484-308-396-916-935-518-499-3,848599
Capex -156-141-296-203-858-908-631-462-520-668
Net Investments 422465-76-251-127-12441-49-3,2301,084
Others 158159645769977212-98183
Cash Flow From Financing Activity -818-579264459-645-742-7-5312,682-919
Net Proceeds from Shares 0620000003,5070
Net Proceeds from Borrowing 0476680087521918-1,194-121
Interest Paid -173-173-201-198-220-338-404-336-305-433
Dividend Paid 0000000000
Others -645-944397658-425-1,280177-214674-365
Net Cash Flow -1932010-1392268-28926194
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)0.556.7314.3719.8425.5419.8817.8123.8915.477.9
ROCE (%)11.3714.9617.5119.4522.1626.8527.5121.720.2415.54
Asset Turnover Ratio2.692.913.083.323.12.742.593.023.142.77
PAT to CFO Conversion(x)50.252.050.38-0.284.274.62.011.131.480.85
Working Capital Days
Receivable Days17161212141613121313
Inventory Days33354344464948424248
Payable Days25212833417057131113

Adani Wilmar Ltd Stock News

Adani Wilmar Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Adani Wilmar on 12-Apr-2024 16:59 is ₹345.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2024 16:59 the market cap of Adani Wilmar stood at ₹44,877.9.
The latest P/E ratio of Adani Wilmar as of 12-Apr-2024 16:59 is 204.4.
The latest P/B ratio of Adani Wilmar as of 12-Apr-2024 16:59 is 5.53.
The 52-week high of Adani Wilmar is ₹509.4 and the 52-week low is ₹285.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Adani Wilmar is ₹49,661 ( Cr.) .

About Adani Wilmar Ltd

Adani Wilmar is one of the few large FMCG food companies in India to offer most of the primary kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar. Commodities, such as edible oils, wheat flour, rice, pulses and sugar, account for approximately 66% of the spend on primary kitchen commodities in India. The company offers a range of staples such as wheat flour, rice, pulses and sugar. Its products are offered under a diverse range of brands across a broad price spectrum and cater to different customer groups. The company’s portfolio of products spans across three categories: (i) edible oil, (ii) packaged food and FMCG, and (iii) industry essentials. A significant majority of its sales pertain to branded products accounting for approximately 73% of its edible oil and food and FMCG sales volume for the financial year 2021 (excluding industry essentials which were offered on a non-branded basis).

The company operates an integrated manufacturing infrastructure to derive cost efficiency across its different business lines. Its integration includes the following means: (i) backward and forward integration. Most of its crushing units are fully integrated with refineries to refine crude oil it produces in-house. It further derive de-oiled cakes from crushing and use palm stearin derived from palm oil refining to manufacture oleochemical products, such as soap noodles, stearic acid and glycerin, and FMCG, such as soaps and handwash; (ii) integration of manufacturing capabilities of edible oils and packaged foods at the same locations. Such integrated manufacturing infrastructure has enabled it to share supply chain, storage facilities, distribution network and experienced manpower among different products and reduce the overall costs for processing and logistics. 

Business area of the company

The company is one of the few large FMCG food companies in India to offer most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar. Its products are offered under a diverse range of brands across a broad price spectrum and cater to different customer groups.

Awards, accreditations and recognitions

  • 2016: Certificate for ‘India’s Most Admired Brand’ for 2016-2017.
  • 2016: ‘Fortune Foods’ was ranked as ‘India’s Most Attractive Edible Oil Brand’ by India’s Most Attractive Brands, 2016 in a study covering 10,000 brands across 16 cities.
  • 2017: ‘Superbrands 2017’ status was conferred upon ‘Fortune’ by the Independent Superbrands Council.
  • 2018: ‘Social Impact Award for Best Public Health Initiative’ – Silver for ‘SuPoshan’, as part of the ACEF Asian Leadership Award, 2018 for Excellence in CSR.
  • 2020: Commendation certificate for ‘Strong Commitment in Food Safety’ for Neemuch unit, as part of the Confederation of Indian Industry (“CII”) Award for Food Safety, 2020.
  • 2020: Commendation certificate for ‘Significant Achievement on Food Safety’ for Unit-1, Krishnapatnam, as part of the CII Award for Food Safety, 2020.
  • 2021: Certificate of Appreciation for contribution towards ‘Healthcare Services to prevent Malnutrition & Anemia’ as part of the Times CSR Awards, 2021 (Gujarat).
  • 2021: Angshu Mallick awarded the Globoil ‘Man of the Year’ award as part of the World’s Leading Edible Oil and Agri Trade Conference, 2021.

Major events and milestones

  • 1999: Incorporated in January 1999.
  • 2001: Commissioned edible oil refinery of 600 TPD at Mundra.
  • 2001: ‘Fortune’ brand of edible oils was launched in northern and western India.
  • 2005: Acquisition of the Mantralayam unit.
    2006: Acquisition of the Bundi and Haldia units.
  • 2009: Acquisition of the Shujalpur, Nagpur, Chhindwara and Neemuch units.
  • 2010: Acquisition of Rajshri Packagers Limited, Mangalore.
  • 2010: Acquisition of Satya Sai Agroils Private Limited.
  • 2010: Launched ‘King’s’, ‘Bullet’ and ‘Ivory’ brands and ‘Raag Gold’ refined palmolein oil.
  • 2011: Acquisition of Acalmar Oils and Fats Limited.
  • 2011: Launch of ‘Pilaf Gold Pure Basmati Rice’.
  • 2012: Addition of the Alwar and Mundra Castor units.
  • 2013:‘Fortune Rice Bran Health Oil’ was launched.
  • 2014: Commenced production at state-of-the-art oleochemical manufacturing complex at Mundra.
  • 2014: Launch of ‘Fortune Besan’.
  • 2014: Launch of ‘Fortune Pulses’.
  • 2015: Launch of ‘Fortune Soya Nuggets’ and ‘Fortune Basmati Rice’.
  • 2016: Launch of ‘Fortune Vivo Pro Sugar Conscious Oil’.
  • 2018: Launch of ‘Fortune Chakki Fresh Atta’ in Delhi NCR and Uttar Pradesh.
  • 2018: Acquisition of an edible oil refinery from Gokul Refoils and Solvent Limited at Haldia.
  • 2018: Acquisition of an edible oil refinery at Paradip from Cargill India Private Limited.
  • 2018: Acquisition of a rice plant at Ferozepur from Ferozepur Foods Energy Private Limited.
  • 2019: Acquisition of an edible oil refinery from Louis Dreyfus Company India Private Limited at Nellore.
  • 2020: Launch of the new ‘Fortune’ logo.
  • 2020: Launch of ‘Fortune Super Food Khichdi’.
  • 2020: Launch of ‘Alife Soap’ in the personal and skin care category.
  • 2021: Launch of ‘Fortune Sugar’ and ‘Fortune Soya Chunkies’.
  • 2021: Launch of personal care products like handwash and hand sanitizer under the ‘Alife’ range.
  • 2021: Set up ‘Fortune Mart’ stores at various locations.
  • 2021: Acquisition of Adani Wilmar.
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