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Edible oil company Adani Wilmar Ltd is planning to set up three new processing facilities at an investment of around ₹90 crore in a bid to consolidate its Fortune-branded packaged grains and pulses business.
The Ahmedabad-based company, an equal joint venture between India’s Adani Group and Singapore’s Wilmar International, will also take steps to boost sales of packaged dal and besan, besides launching a basmati rice variety by December under the Fortune brand.
The three facilities, to be set up at an investment of ₹30 crore each, will have a capacity to process 300 tonnes of pulses a day each, according to Angshu Mallick, CEO, Adani Wilmar.
Of them, the Shujalpur unit in Madhya Pradesh will start operations by the end of this fiscal. The remaining two will come up in Gujarat and Rajasthan. All the new units will mostly process Tur and Chana Dal. Adani currently has its own processing and packaging facility at Haldia (350 tonnes a day) in West Bengal.
Came on stream in April this year, the port-based facility largely processes Canadian lentils for manufacturing Masur Dal, which is in high demand. The unit also produces Besan and whole yellow peas.
“Currently, 2 per cent on the national pulses market is controlled by branded products. We are focussing on major growth in this segment in the next four to five years,” Mallick said.
He is expecting 50 per cent annual growth in revenue from pulses from 2014-15.
Basmati rice Adani currently sells 2,000 tonnes of basmati rice a month under the mid-market ‘Pilaf’ brand. The company is now gearing up to double the offerings through the premium Fortune brand. The aim is to find a place among the-top three national brands in five years.
“We already have two processing facilities in the Basmati growing regions of Punjab and Haryana. We may go for capacity addition. But to ensure quality issues, we are first focussing on streamlining procurement and supply chain management,” he said.
In 2013-14, the company reported a turnover of ₹17,300 crore, of which 25 per cent came from exports.
Cattle feeds (soya meal and rapeseed meal) and castor oil form a majority of the exports basket. The company is India’s largest producer and exporter of castor oil.
Adani Wilmar on Thursday launched its Fortune branded soya chunks in Kolkata.
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