Adani Wilmar Renamed to AWL Agri Business After Adani Group Exit

Adani Wilmar, formerly the FMCG arm of Adani Group, has kicked off its rebranding exercise with a name change to AWL Agri Business. The company’s shareholders approved the new name through an online postal ballot dated January 15. 

"Since 99.99% of the total votes polled are in favour of the above-mentioned resolution, the said resolution is duly passed as a Special Resolution as mentioned in the notice dated 15th January 2025 with requisite majority," the company said in an exchange filing on February 25. 

Established in January 1999, Adani Wilmar was a 50:50 joint venture between the Gautam Adani-led conglomerate’s Adani Commodities and Singapore-based agri giant Wilmar International. The firm was listed on Indian stock exchanges in February 2022. 

In December 2024, Adani Enterprises announced its decision to exit the joint venture by selling its entire 44% stake to Wilmar International for about $2 billion. The move is part of Adani's strategy to refocus on core infrastructure businesses, including energy, transport, and logistics. The divestment is expected to be completed by the end of FY25. 

According to an NDTV Profit report, To meet India's minimum public shareholding requirements, Adani plans to sell approximately 13% of its stake in the open market, ensuring that at least 25% of AWL's shares are publicly held. Additionally, Wilmar International will acquire Adani Enterprises' remaining 31% stake in the edible oil maker.

The report says that an agreement has been signed between Adani Enterprises, Adani Commodities LLP, and Lence Pte Ltd, a wholly-owned subsidiary of Wilmar International. The deal allows Lence to acquire up to 31.06% of Adani Wilmar's equity share capital, with the option to exercise the sale and purchase after 12 months.

One of India's largest FMCG companies, AWL Agri business will have a vast portfolio of products under the "Fortune" brand, ranging from edible oils to rice, flour, pulses, and other items.

The company's consolidated net profit rose 104.55% to Rs 410.93 crore in Q3 FY25, compared to Rs 200.89 crore posted in Q3 FY24.

Revenue from operations jumped 23.62% YoY to Rs 15,859.31 crore in the quarter ended December 31, 2024.