Adani Wilmar Q4 earnings effect: Shares fall after two sessions, down 4.5% since Q3 results

Shares of Adani Wilmar fell after two sessions today as the Adani Group firm reported a 60% fall in net profit for the March 2023 quarter. The stock slipped 3.60% to Rs 400.55 against the previous close of Rs 415.50 on BSE. The

Adani Group FMCG firm’s stock has lost 4.48% or Rs 18.8 since the Q3 earnings of the firm were announced in the December quarter of the previous fiscal on February 8, 2023. The stock closed at Rs 419.35 in the same session.

Meanwhile, a total of 2.95 lakh shares of the firm changed hands amounting to a turnover of Rs 12.12 crore in the current trading session. Market cap of the firm fell to Rs 52,662 crore on BSE. The share hit a 52 week high of Rs 841.90 on September 23, 2022 and a 52 low of Rs 327 on February 28, 2023.

In terms of technicals, the relative strength index (RSI) of Adani Wilmar stands at 53.1, signaling it's neither trading in the overbought nor in the oversold territory. The stock has a beta of 1.4, indicating very high volatility in a year. Shares of Adani Wilmar are trading higher than the 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

The stock has fallen 46.75% in a year and lost 35.02% in 2023.

Adani Wilmar logged a 60% fall in consolidated profit after tax (PAT) to Rs 93.6 crore for the March 2023 quarter against a net profit of Rs 234.29 crore in the corresponding quarter of the previous fiscal.

Revenue from operations fell 7% YoY to Rs 13,872.6 crore in Q4 FY23 compared to Rs 14,917.2 crore in Q4 FY22.

Revenue in the last fiscal stood at Rs 58,185 crore, while profit after tax stood at Rs 582 crore.

The company crossed 5 million metric tonne of sales during FY23. Revenue from food segment doubled 2 years to close the year around Rs 4,000 crore. Both wheat flour and rice businesses crossed Rs 1,000 crore in revenue in FY23.

In the third quarter of the previous fiscal, the firm reported a 16 per cent year-on-year (YoY) rise in consolidated net profit to Rs 246 crore against Rs 211 crore in the corresponding quarter last year. Revenue in Q3 rose 7 per cent YoY to Rs 15,438 crore compared with Rs 14,371 crore in the same quarter last year.

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