By Praveen Paramasivam
(Reuters) -Adani Wilmar expects its sales volumes to grow by around 10% next fiscal year, CEO Angshu Mallick told Reuters on Wednesday, counting on demand from 10-minute grocery delivery apps and a tax cut-led revival in urban consumer spending.
Top executives in sectors such as consumer goods and automobiles expect India’s plans to cut personal income tax rates to put more disposable income in the hands of the people and eventually boost consumption.
“Whenever consumers have excess money, we have found they first go and buy good food,” Mallick said, adding the company’s food business is expected to grow by more than 20% for the fiscal year that ends in March 2026.
For the third quarter, Adani Wilmar’s sales volume grew by only 5%, with its edible oil business posting a 4% growth.
The edible oil business, which makes ‘Fortune’ cooking oil, will grow by at least 6% next year, helping the broader group return to overall growth in the region of 10%, Mallick said.
(Reporting by Praveen Paramasivam; Editing by Sonia Cheema)
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