Shares of Adani Wilmar Ltd fell over 3% after the firm reported a loss of Rs 79 crore in the June 2023 quarter. Net profit for Q1 of last fiscal stood at Rs 194 crore. In the March quarter, the company posted a profit of Rs 94 crore. Adani Wilmar stock plunged 4.16% to Rs 396 against the previous close of Rs 413.20 on BSE. Market cap of the firm fell to Rs 52,110 crore. Consolidated revenue slipped 12% to Rs 12,928 crore YoY decline against Rs 14,724 crore, reflective of steep decline in edible oil prices. Revenue slipped 7% from Rs 13,873 crore in the March 2023 quarter.
EBITDA slipped 71% to Rs 130 crore in the June 2023 quarter against Rs 443 crore in the Q1 of last fiscal. EBITDA fell 64% from Rs 349 crore in the March 2023 quarter.
Gross profit slipped 21% to Rs 1178 crore in Q1 against Rs 1494 crore profit in the corresponding quarter of the last fiscal.
In Q1 of FY24, food segment logged a revenue of Rs 1,100 crore, rising 28% YoY and 100% plus growth over 2 years. Adani Wilmar reported a 25% volume growth in Q1 ‘24, with broad-based growth across all segments.
In a year, the stock has fallen 43.45% and lost 33.53% this year. Total 2.80 lakh shares changed hands amounting to a turnover of Rs 11.38 crore on BSE. Adani Wilmar stock hit a 52-week low of Rs 327 on February 28, 2023 and a 52 week high of Rs 841.90 on September 23, 2022. In terms of technicals, the relative strength index (RSI) of Adani Wilmar stands at 54.4, signaling it's trading neither in the overbought nor in the oversold territory.
Adani Wilmar stock has a one-year beta of 1.4, indicating high volatility during the period. Adani Wilmar shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.
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