Adani Wilmur plans Rs1,000 crore capex in 2 years

Leading edible oil player Adani Wilmar is planning to spend Rs1,000 crore into expansion over the next two years and expects to double its soya meal export to 1 million tonne this year.

"We are expecting a more-than-double growth in soya meal export this year at above 1 million tonne," Adani Wilmar managing director Pranav Adani said in Mumbai today while launching Fortune Plus,a variant of its flagship brand Fortune. 

Adani said the company will be investing Rs1,000 crore during the next two years. This capex plan comes on the heels of the company investing Rs1,000 crore to ramp up its refining capacity last year.

Last year the company, which enjoys 17% market share in the edible oils market, had exported 5 lakh tonne soya meal, Adani said. 

The company's optimism arises from the expected bumper soybean production this year. Domestic soybean production is seen exceeding 10 million tonne this year. The country's soybean season stars from October.

Adani Wilmar has the largest edible oil refining capacity in the country at 9,000 tonne per day from its 11 facilities and a crushing capacity of 6,000 tonne a day at seven locations.

Adani Wilmar enjoys 17% share in the edible oil segment and 32% market share in soybean oils alone and 10% in the sunflower oil market.

The company has imported 1.8-2 million tonne edible oil last year and expects 30% growth in imports this year, Adani said. The company, which spends around 2% of revenue on marketing activities, today launched its new low absorption oil Fortune Plus and announced ace badminton player Saina Nehwal as the brand ambassador of the product.