Adani Wilmar to invest Rs 600 cr in capacity expansion

Company's revenue stood at Rs 17,300 crore in the last financial year

Leading edible oil manufacturer Adani Wilmar will invest Rs 600 crore this fiscal to expand capacity in its refineries across the country, the company said today.

"The company will invest around Rs 600 crore in all the 16 refineries for expansion of refining capacity as well as packing," COO of Adani Wilmar, Angshu Mallick told reporters here.

Announcing its foray into the Rs 150-crore soya chunks market under its 'Fortune' brand, Mallick said the company had the highest market share in the edible oil segment at 20%.

In the last financial year the company's revenue stood at Rs 17,300 crore, he said adding the edible oil market was growing at 15% annually.

The company, a 50:50 joint venture between Adani Group and Wilmar International of Singapore, exports its products to 18 countries including the Gulf nations, Singapore, New Zealand and Australia.

Its export revenue stood at Rs 4500 crore during the period, Mallick said.