Adani Wilmar share price falls 5% amid reports of Adani Enterprises stake sale plan
Adani Wilmar share price fell almost 5 per cent while those of Adani Enterprises rose almost a per cent in early deals on BSE on Thursday amid reports that Gautam Adani-led Adani Enterprises is exploring selling its stake in Wilmar International Ltd. As per a Bloomberg report, Adani Enterprises has been considering a potential sale of its 44 per cent stake in Adani Wilmar for a few months. Gautam Adani and his family may retain a minority stake in a personal capacity following a sale, Bloomberg reported citing people.
Read more: Gautam Adani's Adani Enterprises considers selling stake in Wilmar International: Report Last week, Adani Wilmar reported a loss in the first quarter, hurt by a steep decline in edible oil prices. Adani Wilmar reported a 12 per cent yearly decline in consolidated revenue during April-June 2023 quarter at ₹12,928 crore. The company said the decline in revenue during the quarter was reflective of a steep decline in edible oil prices.
The food and FMCG segment recorded a strong revenue growth of 28 per cent year-to-year to record close to ₹1,100 crores of the total. On the operating front, the edible oil major's earnings before interest, taxes, depreciation, and amortization (EBITDA) during the June quarter came in at ₹130 crore, reporting a sharp decline of 71 per cent, compared to ₹443 crore in the year-ago period. The EBITDA margin stood at 1 per cent, compared to 3 per cent in the same quarter last year.
Read more on livemint.com
