Adani Wilmar shares in focus today, here's why

Shares of Adani Wilmar are in news today after the Adani Group firm said it has signed a definitive agreement to acquire GD Foods Manufacturing (India), the owner of the 'Tops' brand. The acquisition will be carried out in multiple tranches, with 80% of the shares to be acquired in the first tranche and the remaining 20% to be acquired over the next three years.

On Tuesday, Adani Wilmar shares ended 1.13% lower at Rs 239.80. Market cap of the firm stood at Rs 31,166.29 crore. The FMCG stock has fallen 36.10% in the last one year and lost 42.67% in two years. 

In terms of price action, Adani Wilmar shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. 

Total 0.80 lakh shares changed hands amounting to a turnover of Rs 1.93 crore on BSE. Adani Wilmar stock has a one-year beta of 1.1, indicating high volatility during the period. 

Angshu Mallick, MD & CEO of Adani Wilmar Limited, said, “As the market evolves, there is a clear need for trusted national food FMCG brands to deliver high-quality, affordable products that fulfill the essential needs of Indian kitchens. Delivering on this requires best-in-class manufacturing operations and a broad distribution reach, both of which are key strengths of AWL. The acquisition of GD Foods aligns with our vision and will significantly enlarge AWL’s offerings to meet the evolving needs of Indian households. With 8 new product categories added to our portfolio, we are laying a strong
foundation to build a formidable presence in the value-added products market over time.” 

In FY’24, GD Foods achieved a revenue of Rs 386 crore, growing at a 3-year CAGR of 15%, and recorded an EBITDA of Rs 32 crore. 

GD Foods offers high-quality products in categories spanning across tomato ketchup, snack sauce, specialty sauces & culinary sauces, jams, pickles, noodles, instant mixes, corn & choco flakes and cooking essentials such as vinegar, baking powder, cake mix, corn flour.