Buoyed by its packed wheat flour brand ‘Fortune Atta’ crossing a turnover of Rs 230 crore in the January-December 2019 period, Adani Wilmar is aiming to double market share in the segment.
Citing IMRB data, Ajay Motwani, head of marketing at Adani Wilmar, on Monday said that the brand currently holds a 0.6 per cent share in the packed wheat flour (chakki atta) market.
Now, even as it ramps up capacity utilisation to 80 per cent at its plants by December 2020, the company is aiming to double market share to nearly two per cent.
Quoting IMRB data, Motwani said that wheat flour or chakki atta forms 90 per cent of the 350,000 tonnes per month of packed flour market. The rest comprises multi-grain flour and refined flour, among others.
“In the first full year of its national presence, our ‘Fortune Atta’ brand has clocked a Rs 230 crore annual turnover. We are now targeting a 10 per cent growth month-on-month and ramping up capacity utilisation at our plants to 80 per cent by calendar year-end of 2020. This should help us double our market share by 2020 end,” said Motwani.
Apart from its own plant at Nimrana, Adani Wilmar also outsources wheat flour production to four other plants, with a cumulative capacity of 295,00 tonnes per month. However, with its annual sales running at 75,000 tonnes per month, the company is currently utilising roughly over 20 per cent of its capacity.
The company, however, is facing a challenge in the wheat flour segment from neighborhood chakki or local flour mills in the unbranded market. However, the company’s in-house team has ensured to procure best quality wheat for the ‘Fortune Atta’ brand.
“The processing of the wheat grains and packaging takes place in our ultra-modern facilities under hygienic conditions. Also, it passes through a thorough fumigation process to keep it free from insect contamination. Our quality rigor and authenticity promise of ‘100 per cent atta, zero per cent maida’ has helped in making us a preferred choice for consumers,” Motwani added.
With the recent launch of its ready-to-cook products, such as ‘Fortune Khichdi’, Adani Wilmar is gradually establishing itself as a ‘food and oil’ player also.
Currently, of its Rs 28,000 crore turnover in fiscal 2018-19, food products contribute roughly 5-10 per cent while the bulk comes from edible oil products.
Meanwhile, having launched 12 products in the last 12 months, it intends to maintain the launch streak with 12 products in the next one year.
Currently, Adani Wilmar has about 18 products sold under the ‘Fortune’ brand, with 7-8 different edible oils and 8-10 food products.