#1adani wilmar Ref No: AWL/SECT/2023-2024/60 November 1, 2023 BSE Limited Floor 25, P J Towers, Dalal Street, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 543458 Dear Sir/Madam, Scrip Code: AWL Sub: Investor Presentation on the Unaudited Financial Results (Consolidated and Standalone) for the quarter and half year ended 30th September, 2023. The Investor Presentation on the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended 30th September, 2023 is enclosed. This presentation will also be available www.adaniwilmar.com. Kindly take the above on your records. Thanking You, Yours faithfully, For Adani Wilmar Limited Darshil Digitally signed by Darshil Mayank Lakhia Mayank Lakhia Date: 2023.11.01 Darshil Lakhia 12:31:49 +05'30' Company Secretary M. No A20217 on the Company's website. Adani Wilmar Ltd. Fortune House Nr. Navrangpura Railway Crossing Ahmedabad - 380 009 Gujarat, India CIN: L15146GJ1999PLC035320 Tel +91 79 2645 5650 Fax +91 79 2645 5621 [email protected] www.adaniwilmar.com Registered Office: Fortune House, Nr. Navrangpura Railway Crossing, Ahmedabad 380 009, Gujarat, India#2adani wilmar For a healthy growing nation fortune® edible oils and foods Investor Presentation: Q2'24 November 1, 2023#3Safe Harbour Statement This Release/Communication, except for the historical information, may contain statements, including the words or phrases such as 'expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should' and similar expressions or variations of these expressions or negatives of these terms indicating future performance or results, financial or otherwise, which are forward looking statements. These forward looking statements are based on certain expectations, assumptions, anticipated developments and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, market growth, intense competition and the pricing environment in the market, consumption level, ability to maintain and manage key customer relationship and supply chain sources and those factors which may affect our ability to implement business strategies successfully, namely changes in regulatory environments, political instability, change in international oil prices and input costs and new or changed priorities of the trade. The Company, therefore, cannot guarantee that the forward-looking statements made herein shall be realized. The Company, based on changes as stated above, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events. The Company does not undertake any obligation to update forward looking statements that may be made from time to time by or on behalf of the Company to reflect the events or circumstances after the date hereof. adani wilmar For a healthy growing nation fortune edible oils and foods. Earnings Presentation - Q2 FY24#4adani™ wilmar Business Context Earnings Presentation - Q2 FY24#5Q2 Business Context Hedges Dis-alignment Dis-alignment of hedges continued, that lead to divergent movement in spot and future market Price Disparity Inventory Levels Reduced realization of Soyabean Oil as compared to purchase price at origin, due to excessive imports by industry in recent months Inventory levels in Sept 2023 are slightly higher compared to June 2023 levels, on the back of anticipated Festive Demand. Less Volatile as compared to Q1 Prices of edible oils have been less volatile during the quarter adani wilmar For a healthy growing nation Discontinuation of TRQ The benefit of TRQ to industry ended on June 30, 2023 Bangladesh Crisis Bangladesh currency & interest rate crisis continues Geopolitical Conflicts fortune edible oils and foods Geopolitical Crises (Ukraine-Russia & Israel-Hamas) continues, although no significant impact on supply chain. Earnings Presentation - Q2 FY24#6adani™ wilmar Business Updates Earnings Presentation - Q2 FY24#7Segment Performance Quarter Performance INR in Crores Volumes (in Million MT) Revenues (INR in Crores) QoQ Growth % YoY Growth % Mix % - Q2FY23 Segment Q2'24 Q1'24 Q2'23 Q2'24 Q1'24 Q2'23 Volume Value Volume Value Volume Value Edible Oils 0.85 0.89 0.82 9,038 9,845 11,221 -4% -8% 4% -19% 58% 74% Food & FMCG 0.26 0.23 0.22 1,283 1,097 1,015 15% 17% 19% 26% 18% 10% Industry Essentials 0.34 0.36 0.28 1,947 1,986 1,914 -5% -2% 25% 2% 24% 16% Total 1.46 1.49 1.32 12,267 12,928 14,150 -2% -5% 11% -13% 100% 100% Half-year Performance Volumes (in Million MT) Revenues (INR in Crores) INR in Crores 2 Year CAGR % YoY Growth % Mix %-H1 FY24 Segment H1'24 H1'23 H1'22 H1'24 H1'23 H1'22 Volume Value Volume Value Volume Value Edible Oils 1.75 1.52 1.49 18,883 22,733 20,859 8% -5% 15% -17% 59% 75% Food & FMCG 0.50 0.41 0.28 2,380 1,875 1,161 33% 43% 20% 27% 17% 9% Industry 0.71 0.58 0.47 3,933 4,267 2,846 22% 18% 23% -8% 24% 16% Essentials Total 2.95 2.51 2.24 25,195 28,874 24,867 15% 1% 18% -13% 100% 100% adani wilmar For a healthy growing nation fortune edible oils and foods Strong volume growth of 11% YoY in Q2'24 and 18% YoY in H1'24 All figures are on Consolidated basis Earnings Presentation - Q2 FY24#8GTM Update: Q2'24 Direct Reach > 6.5 Lac+ Outlets Direct Reach Coverage: Rural Towns 26,500+ rural towns 2.2x 2x X Rural Saliency ~30% (Volumes) Rural Town Coverage 4.2x 8.2x FY20 FY21 FY22 FY23 Q1'24 Q2'24 FY20 FY21 FY22 FY23 Q1 FY24 Q2 FY24 Broad Commentary ➤ Direct Reach: Continued focus on increasing direct reach Rural Town Coverage: Aggressive expansion of rural towns, to capture higher growth in the coming years. Rural sales growth: Rural sales growth has picked up in the past 4 quarters Saliency: Saliency of rural sales remains ~30% adani wilmar fortune edible oils and foods For a healthy growing nation Note: Population below 100,000 are rural towns Earnings Presentation - Q2 FY24#9Market Share Update (1/2) adani wilmar For a healthy growing nation Market Share vis-à-vis Competition #1 Edible Oil 49% Edible Oil (oil-wise) fortune edible oils and foods 19.6% adani wilmar ROCP: MAT Sept 2023 19.5% 19.6% 14.2% 6.3% 6.2% 4.6% Note: MS% including JV Top 3 in all edible oil categories #1 Soyabean Sept 22 Sept 23 #2 Palm Oil #1 Mustard Oil Top 2 Groundnut Oil #3 Sunflower Oil #1 Ricebran Oil Top 5 Cottonseed Oil Focused on increasing direct reach and rural town coverage Source: Nielsen Earnings Presentation - Q2 FY24#10Market Share Update (2/2) Wheat Flour Market Share vis-à-vis Competition #2 Others, 51% 1% 2% adani wilmar 5.15% 3% Consumer Pack MS%: MAT Sept 2023 5.15% 5.00% 37% Market Share vis-à-vis Competition* #3 1% Basmati Rice adani wilmar For a healthy growing nation fortune edible oils and foods Others, 28% Sept 22 Sept 23 ROCP MAT Sept 2023 (YoY)* adani wilmar 9.40% 7.40% 35% 29% *Note: AWL MS% includes combined share of Fortune & Kohinoor Source: Nielsen Sept 22 7.40% Sept 23 Earnings Presentation - Q2 FY24#11Channel Performance: Q2'24 HoReCa HoReCa channel has been growing at a double-digit on QoQ basis adani wilmar For a healthy growing nation fortune edible oils and foods PORT OF DALLA PURT OF BAKLAND Branded Exports Branded Exports doubled in Q2'24 on YoY basis Alternate Channel (E-Com & Modern Trade) Alternate channel sales grew 30%+ YoY in Q2'24 ان 3K3 FRAGILE AWL's multi-channel focus is aiding in healthy growth in volumes All growth figures are for sales volumes Earnings Presentation - Q2 FY24#12Marketing Activities: Q2'24 fortune edible ots and foods. fortune.foods 748 posts Follow Message +0 28.8K followers 7 following Fortune Foods fortune.foods Brand For the love of ghar ka khana www.fortunefoods.com Fortune BAAHAR SE Ganeshotsav Masterchefe YAADEIN HAZAAP Ganeshotsav YaadonKiBarni Fortune Wheel FFMasterChef Fortune Oil Fortune Festive Fortune Foods POSTS REELS TAGGED kohinoorindiaofficial Following 243 posts 938 followers 0 following Kohinoor KohinoorIndiaOfficial Kohinoor Embrace new roles with grace Celebrate with adani wilmar For a healthy growing nation fortune edible oils and foods Message kohinoorindiaofficial Kohinoor welcomes you to indulge in the magnificent experience of authentic rice delicacies that makes every meal a truly special one! appopener.com/yt/8wq0ow8gf POSTS REELS TAGGED Kohmoor BASMATI RICE kg Kohinoor 25% EXTRA Kohinoor TRADITIONAL BASMATI RICE AUTHENTIC (KDHA Cherish bonds with love Celebrate with Passed 100+ Kohinoor Quality Tests kohinoorindiaofficial Can you type "Basmati" with your eyes closed? 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Fortune beson Fortune Fortune fortune fortune fortune edible oils and foods Earnings Presentation - Q2 FY24#13[D] रचनात्मक दृश्य। Marketing Activities: Q2'24 Print & Digital Media adani wilmar For a healthy growing nation fortune edible oils and foods Flipkart Grocery இதைவிட சிறந்த விலை எங்கே? முயற்சி செய்யுங்கள் Now available at 599/- ஃபார்ச்சூன் sun lite wood Fortune wined sunflow all Scan to buy now D रचनात्मक दृश्य। Fortune kachi ghani पारंपरिक राजस्थान में बना फ्रेश है घणा Ab soft roti ke sath Suji FREE! Paylye 10 kg Fortune Chakki Fresh Atto ka soth 500 Fortune Suji bilkul muft: fortune fortune फ्रॉन चक्की फ्रेश आटा अब राजस्थान में ही पिसता है। तभी तो आप तक एकदम फ्रेश पहुंचता है। आज ही मंगवाइए और मुलायम-मुलायम रोटीयों का आनंद उठाइए। Fortune चक्की फ्रेश आटा TVCS fortune पटना PATNA D रचनात्मक दृश्य TBC FREE 500g Fortune Sul fortune chakki frosh atta ICO FREE 500 g Fortune Sui ARGINS fortune 36 FREE Sull worth 2361- Fortune fortune® chakki fresh atta Earnings Presentation - Q2 FY24#14adani wilmar For a healthy growing nation fortune edible oils and foods. New Products: Q2'24 Brown Rice under Kohinoor Brand (Domestic) Launch of Fortune Biryani Kit for Export Market Net Weight Kohinoor BROWN BASMATI RICE LOW DE VALUE SOURCE OF FIBER SOURCE OF MINERALS 15 Kohinoor CHARMINAR FOR BEST COOKS RESULTS 15 45 MINUTES Brown Rice Kajnoor CHARMINAR Bn Rice Net Weight 1kg pfiu Biryani kit new fortune GGESTIONS/COMPLAINTS PLEASE CONTACT 577 9999 email carelladaniwimar Fortune fortunefoods.com No Artificial Colours & Preservaties. easy (30 eady steps Hyderabadi Biryani kit Launch of Xpert range of premium oils in Export Markets Fortune 15907 FL. OZ SL (4.550 edible ol xpert immunity blended Strong From Within fortune sugar conscious blended edible oil Xpert sesame onans/ gomma oryzanol fortune Expert total FLARSLED balance mu-source edible of Bokonce of SAFAMFAPUFA Net Weight 339 g الوزن الصافي ٣٣٩ جرام Fortune Lucknowi biryani kit new fortune® fortunefoods.com No Artificial Colours & Preservatives eady steps Lucknowi biryani kit Net Weight 339 g الوزن الصافي ٣٣٩ جرام Earnings Presentation - Q2 FY24#15adani™ wilmar Financial Performance Earnings Presentation - Q2 FY24#16Result Highlights (Standalone) INR in Crores Q2'24 Q1'24 Q2'23 QoQ Growth % YoY Growth % H1'24 H1'23 YoY Growth % Volume (MMT) 1.4 1.4 1.3 -2% 11% 2.8 2.4 18% Revenue 11,720 12,379 13,410 -5% -13% 24,099 27,427 -12% Gross Profit 1,182 1,113 1,293 6% -9% 2,296 2,682 -14% EBITDA 156 122 258 28% -39% 278 654 -57% PBT* (61) (49) 85 PAT (87) (38) 62 adani wilmar fortune edible oils and foods For a healthy growing nation (110) 312 (125) 232 Profitability impacted due to hedge dis-alignment and price disparity, resulting in drop in gross margins *Excluding extraordinary item of Entry Tax of INR 54 Crores Earnings Presentation - Q2 FY24#17Result Highlights (Consolidated) INR in Crores Q2'24 Q1'24 Q2'23 QoQ Growth % YoY Growth % H1'24 H1'23 YoY Growth % Volume (MMT) 1.5 1.5 1.3 -2% 11% 2.9 2.5 18% Revenue 12,267 12,928 14,150 -5% -13% 25,195 28,874 -13% Gross Profit 1,223 1,178 1,348 4% -9% 2,400 2,840 -15% EBITDA 144 130 254 10% -43% 274 697 -61% PBT* (108) (68) 60 PAT (131) (79) 49 (176) 320 (210) 242 Consolidated PAT was further impacted due to losses of INR ~42 Cr. & INR 64 Cr. in Bangladesh subsidiary in Q2'24 & H1'24 respectively adani wilmar fortune edible oils and foods For a healthy growing nation *Excluding extraordinary item of Entry Tax of INR 54 Crores Earnings Presentation - Q2 FY24#18Segment Results (Consolidated) Segment Revenue Segment Revenue: Consolidated INR in Crores Q2'24 Q1'24 Q2'23 QoQ Growth % YoY Growth % H1'24 H1'23 YoY Growth % Mix % - H1'24 Edible Oil 9,038 9,845 11,221 -8% -19% 18,883 22,733 -17% 75% Food & FMCG 1,283 1,097 1,015 17% 26% 2,380 1,875 27% 9% Industry Essentials 1,947 1,986 1,914 -2% 2% 3,933 4,267 -8% 16% Total 12,267 12,928 14,150 -5% -13% 25,195 28,874 -13% 100% Segment Results Segment Results: Consolidated INR in Crores Q2'24 Q1'24 Q2'23 QoQ Growth % YoY Growth % H1'24 H1'23 YoY Growth % Mix % - H1'24 Edible Oil (195) (91) 25 (286) 106 Food & FMCG 52 38 18 37% 187% 90 28 218% Industry Essentials 56 1 42 33% 57 239 -76% Total (88) (52) 84 69% -204% (139) 373 -137% adani wilmar For a healthy growing nation fortune edible oils and foods Food & FMCG profitability continues to improve Earnings Presentation - Q2 FY24#19Past Trend in Profitability: Gross Margins & EBITDA Quarterly Trend: Gross Profit Average quarterly Gross Profit of INR 1,250 Crores in past 14 quarters in INR Crores 1,684 1,344 1,212 1,353 1,394 1,389 1,293 1,356 1,049 - 1,111 - - -1,190 1,171 1,114 - 1,182 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 447 185 Quarterly Trend: EBITDA Average quarterly EBITDA of INR 350 Crores in past 14 quarters 623 507 426 414 377 379 396 353 339 258 in INR Crores 156 122 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 adani wilmar fortune edible oils and foods For a healthy growing nation All figures are on standalone basis Earnings Presentation - Q2 FY24#20Past trend in Profitability: Per ton Quarterly Trend: Gross Profit per ton Average Gross Profit of INR 10,400 per ton INR per Ton 11,698 11,284 11,740 12,171 11,100 11,392 11,886 9,288 10,571 10,253 9,149 9,383 - 8,323 7,748 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 4,315 1,613 Quarterly Trend: EBITDA per ton Average EBITDA of ~INR 3,000 per ton 4,187 3,652 3,697 3,470 3,383 3,152 3,136 4,397 2,346 2,044 INR per Ton 1,101 848 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 adani wilmar fortune edible oils and foods For a healthy growing nation All figures are on standalone basis Earnings Presentation - Q2 FY24#21Legal Disclaimer The information contained in this presentation is provided by Adani Wilmar Limited (together with its subsidiaries, the "Company" or "AWL") to you solely for your reference and for information purposes only. This presentation is highly confidential and is being given solely for your information and your use, and may not be retained by you or copied, reproduced or redistributed to any other person in any manner nor any part thereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or (iii) re-circulated, redistributed, passed on, published in any media, website or otherwise disseminated, to any other person, in any form or manner, in part or as a whole, without the prior written consent of the Company. Any unauthorized use, disclosure or public dissemination of information contained herein is prohibited. This presentation does not purport to be a complete description of the markets' conditions or developments referred to in the material. Certain statements made in this presentation may not be based on historical information or facts and may be "forward-looking statements," including those relating to general business plans and strategy of Adani Wilmar Limited ("AWL"), their future outlook and growth prospects, and future developments in their businesses and their competitive and regulatory environment, and statements which contain words or phrases such as 'will', 'expected to', etc., or similar expressions or variations of such expressions. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in their business, their competitive environment, their ability to implement their strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in India. 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PULKIT MITTAL Head Investor Relations - [email protected] +91 79 2645 9100 herein to reflect any change in events, conditions or circumstances on which any such statements are based. Neither the Company nor any of its respective affiliates, its board of directors, its management, advisers or representatives, including any lead managers and their affiliates, or any other persons that may participate in any offering of securities of the Company, shall have any responsibility or liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. AWL assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent development, information or events, or otherwise. Unless otherwise stated in this document, the information contained herein is based on management information and estimates. 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Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward-looking statements as a result of various factors and assumptions, including future changes or developments in the Company's business, its competitive environment, information technology and political, economic, legal, regulatory and social conditions in India, which the Company believes to be reasonable in light of its operating experience in recent years. The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of the Company. Please note that the past performance of the Company is not, and should not be considered as, indicative of future results. 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This presentation contains translations of certain Rupees amounts into U.S. dollar amounts at specified rates solely for the convenience of the reader. MR. ABHIK DAS Lead Investor Relations [email protected] +91 79 2645 8774 adani wilmar For a healthy growing nation fortune edible oils and foods. Earnings Presentation - Q2 FY24#22# phoni health BU ino Fortune biryani special beson SOUD chunks ruknamat adani wilmar For a healthy growing nation fortune edible oils and foods Earnings Presentation - Q2 FY24