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AWL Agri Business, formerly Adani Wilmar, is an Indian multinational food and beverage conglomerate based in
Ahmedabad Ahmedabad ( ), also spelled Amdavad (), is the most populous city in the Indian state of Gujarat. It is the administrative headquarters of the Ahmedabad district and the seat of the Gujarat High Court. Ahmedabad's population of 5,570,585 ...
. The company was founded in 1999 as a joint venture between
Adani Enterprises Adani Enterprises Limited (AEL) is an Indian multinational publicly listed holding company and a part of Adani Group. It is headquartered in Ahmedabad and primarily involved in mining and trading of coal and iron ore. Through its various subsi ...
and
Wilmar International Wilmar International Limited (); is a Singaporean food processing and investment holding company with more than 300 subsidiary companies. Founded in 1991, it is one of Asia's leading agribusiness groups alongside the COFCO Group. It ranks amongs ...
. It is India's largest processor of palm oil. As of 2022, AWL operates 22 plants across 10 states in India and exports its products to the
Middle East The Middle East (term originally coined in English language) is a geopolitical region encompassing the Arabian Peninsula, the Levant, Turkey, Egypt, Iran, and Iraq. The term came into widespread usage by the United Kingdom and western Eur ...
,
Africa Africa is the world's second-largest and second-most populous continent after Asia. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 20% of Earth's land area and 6% of its total surfac ...
, and
Southeast Asia Southeast Asia is the geographical United Nations geoscheme for Asia#South-eastern Asia, southeastern region of Asia, consisting of the regions that are situated south of China, east of the Indian subcontinent, and northwest of the Mainland Au ...
.


History

Adani Wilmar Ltd. was incorporated in 1999 as an equal joint venture between
Adani Enterprises Adani Enterprises Limited (AEL) is an Indian multinational publicly listed holding company and a part of Adani Group. It is headquartered in Ahmedabad and primarily involved in mining and trading of coal and iron ore. Through its various subsi ...
and Singapore-based Wilmar International. Adani Wilmar's brand, Fortune, is an edible oils and foods brand. Between 2014 and 2017, the company launched other packaged products, such as rice, soya chunks, and flour, under the same brand name. Between 2019 and 2020, the company entered the personal care market under the brand Alife. During the same period, AWL also ventured into the ready-to-cook (RTC) products market. As of 2021, the company held an 18.3% market share in the branded edible oil market in India. It is India's largest processor of palm oil. Adani Wilmar opened its three-day
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...
(IPO) on 27 January 2022, and the issue closed on 31 January 2022. The listing took place on 8 February 2022. In December 2024,
Adani Enterprises Adani Enterprises Limited (AEL) is an Indian multinational publicly listed holding company and a part of Adani Group. It is headquartered in Ahmedabad and primarily involved in mining and trading of coal and iron ore. Through its various subsi ...
announced that it would exit the Adani Wilmar joint venture by selling a 31% stake to
Wilmar International Wilmar International Limited (); is a Singaporean food processing and investment holding company with more than 300 subsidiary companies. Founded in 1991, it is one of Asia's leading agribusiness groups alongside the COFCO Group. It ranks amongs ...
and the remaining 13% to public shareholders. In February 2025, Adani Wilmar was renamed as AWL Agri Business Limited following the approval of its shareholders.


Subsidiary, acquisition & joint ventures

In 1993, BEOL (Bangladesh Edible Oil Limited) was established in
Dhaka, Bangladesh Dhaka ( or ; , ), List of renamed places in Bangladesh, formerly known as Dacca, is the capital city, capital and list of cities and towns in Bangladesh, largest city of Bangladesh. It is one of the list of largest cities, largest and list o ...
, as a 100% foreign-owned joint venture between Wilmar International of Singapore and the Adani Group of India. In 2005, Adani Wilmar acquired the Mantralayam and Haldia plants (refining). From 2006 to 2009, AWL acquired multiple crushing and refining units in Bundi,
Shujalpur Shujalpur is a city and a municipality in Shajapur district in the Indian state of Madhya Pradesh. Ranoji Rao Shinde, father of Mahadji Shinde (Scindia), died in 1745 at Shujalpur, where his cenotaph ('' chattri'') stands which houses a Shiv t ...
,
Nagpur Nagpur (; ISO 15919, ISO: ''Nāgapura'') is the second capital and third-largest city of the Indian state of Maharashtra. It is called the heart of India because of its central geographical location. It is the largest and most populated city i ...
, and
Neemuch Neemuch or Nimach is a city in the Malwa region of Madhya Pradesh. The town shares its northwestern border with the state of Rajasthan and is the administrative headquarters of Neemuch District. Formerly a large British people, British cantonm ...
. It also acquired Rajshri Packagers (refining), Acalmar Oils and Fats, and Satya Sai Agroils (refining). In 2011, the AWL group acquired the Alwar and Mundra castor units (crushing, refining, and industry essentials) and Gokul Refoils & Solvent (edible oil refining company). In 2018, the AWL group acquired a refinery from Louis Dreyfus Commodities, an edible oil refinery from Cargill, and rice plants from Ferozepur Foods. Joint ventures of AWL include KOG-KTV Foods Pvt. Ltd, KTV Health Foods Pvt. Ltd, and Visakha Polyfab Pvt. Ltd. In 2022, Adani Wilmar acquired the Kohinoor, Trophy Royale, and Charminar rice brands from
McCormick & Company McCormick & Company, Incorporated is an American food company that manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavoring products to retail outlets, food manufacturers, and food service businesses. The ...
. In 2024, Adani Wilmar acquired a 67% stake in the specialty chemicals company Omkar Chemical Industries.


Social responsibility

Adani Wilmar Limited, along with the Adani Foundation, the CSR arm of the Adani Group, runs the Fortune SuPoshan initiative to address malnutrition and anemia in children.


Criticism and controversies

In 2016, the
Government of Maharashtra The Government of Maharashtra is the executive branch of the Indian states of india, state of Maharashtra. The government is led by the List of chief ministers of Maharashtra, chief minister (currently Devendra Fadnavis since 5 December 2024) ...
released an official statement indicating that Adani Wilmar had violated regulations set by the Food and Drug Administration (FDA) of Maharashtra while promoting its blended edible vegetable oil, Fortune Vivo. The company had made claims about the oil's medicinal properties, including its ability to regulate diabetes. Madan Yerawar, the Minister of State for FDA, stated that a raid was conducted on Adani Wilmar's storage facility in
Panvel Panvel () is a city and taluka in the Raigad district of Maharashtra, India. It is highly populated due to its closeness to Mumbai. Panvel is also governed for development purpose by the body of Mumbai Metropolitan Region. Panvel Municipal C ...
after deceptive information was identified on both the product advertisements and packaging. Adani Wilmar, along with other members of the
Roundtable on Sustainable Palm Oil The Roundtable on Sustainable Palm Oil (RSPO) was established in 2004 with the objective of promoting the growth and use of sustainable palm oil products through global standards and multistakeholder governance. The seat of the association is ...
, has been criticized for its role in deforestation and the loss of habitat for orangutans, tigers, and elephants in the
Sumatra Sumatra () is one of the Sunda Islands of western Indonesia. It is the largest island that is fully within Indonesian territory, as well as the list of islands by area, sixth-largest island in the world at 482,286.55 km2 (182,812 mi. ...
and
Borneo Borneo () is the List of islands by area, third-largest island in the world, with an area of , and population of 23,053,723 (2020 national censuses). Situated at the geographic centre of Maritime Southeast Asia, it is one of the Greater Sunda ...
regions of Indonesia and Malaysia. The nonprofit Adani Watch states that "through its joint venture with Wilmar, Adani is a major refiner and trader in palm oil, an industry responsible for devastating large areas of rainforest in Southeast Asia." In June 2022, C4ADS stated in its report that food companies, including Adani Wilmar, "continue to enable forced labor through their indiscriminate import of tainted palm oil." On 9 February 2023, the Himachal Pradesh Excise Department raided the company's warehouses in the state. In February 2023, Adani Wilmar's joint venture with KTV Group was penalized by the
Supreme Court of India The Supreme Court of India is the supreme judiciary of India, judicial authority and the supreme court, highest court of the Republic of India. It is the final Appellate court, court of appeal for all civil and criminal cases in India. It also ...
for violations of coastal regulations in
Tamil Nadu Tamil Nadu (; , TN) is the southernmost States and union territories of India, state of India. The List of states and union territories of India by area, tenth largest Indian state by area and the List of states and union territories of Indi ...
. The company had constructed an oil storage facility and pipeline, and local fishermen claimed that oil leaks from the 7-kilometer pipeline were killing fish in the area. The court ordered that the facility be demolished.


References


External links

* {{Official website, https://www.adaniwilmar.com/
Fortune Foods
Indian brands Food and drink companies of India Companies listed on the Bombay Stock Exchange Multinational companies headquartered in India Companies listed on the National Stock Exchange of India Indian companies established in 1999 Companies based in Gujarat 2022 initial public offerings