Adani Group is considering selling its entire 43.97% stake in Adani Wilmar, a joint venture with Singapore's Wilmar International, worth $2.5-3 billion.
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Refocusing core infrastructure
Adani Group is prioritizing its core areas of focus, including infrastructure, and as part of this approach, it intends to divest from Adani Wilmar.
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Declining financial performance
The company reported losses for two consecutive quarters, with a net loss of Rs. 130.73 crore in the July-September quarter.
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Edible oil segment struggles
Adani Wilmar's profits were hampered primarily by losses in the edible oil segment, but this was partly offset by better margins in the Food & FMCG and industry essential segments.
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Re-investment
Proceeds from the proposed sale will be invested in other group businesses rather than settling debt, according to an executive.