Adani Wilmur plans Rs 1,000cr capex in 2 years

MUMBAI: Leading edible oil player Adani Wilmar is planning to spend Rs 1,000 crore into expansion over the next two years and expects to double its soya meal export to 1 million tonne this year.

"We are expecting a more-than-double growth in soya meal export this year at above 1 million tonne," Adani Wilmar Managing Director Pranav Adani said here on Thursday while launching Fortune Plus,a variant of its flagship brand Fortune.

Adani said the company will be investing Rs 1,000 crore during the next two years. This capex plan comes on the heels of the company investing Rs 1,000 crore to ramp up its refining capacity last year.

Last year the company, which enjoys 17 per cent market share in the edible oils market, had exported 5 lakh tonne soya meal, Adani said.

The company's optimism arises from the expected bumper soybean production this year. Domestic soybean production is seen exceeding 10 million tonne this year. The country's soybean season stars from October.

Adani Wilmar has the largest edible oil refining capacity in the country at 9,000 tonne per day from its 11 facilities and a crushing capacity of 6,000 tonne a day at seven locations.

Adani Wilmar enjoys 17 per cent share in the edible oil segment and 32 per cent market share in soybean oils alone and 10 per cent in the sunflower oil market.

The company has imported 1.8-2 million tonne edible oil last year and expects 30 per cent growth in imports this year, Adani said. The company, which spends around 2 per cent of revenue on marketing activities, on Thursday launched its new low absorption oil Fortune Plus and announced ace badminton player Saina Nehwal as the brand ambassador of the product.