Mumbai: AWL Agri Business Ltd. (formerly Adani Wilmar Limited) has announced the 25-year milestone of its flagship brand Fortune, celebrating a journey that mirrors the rapid rise and transformation of India’s FMCG and packaged food industry. Launched in 1999 as an edible oils brand, Fortune has evolved into one of India’s most trusted names in food essentials—today present in one in every three Indian households with a wide portfolio of edible oils, atta, rice, besan, pulses, sugar, ready mixes, spreads, and other staples.
The milestone comes at a time when India’s FMCG sector has witnessed extraordinary expansion. Over the last two decades, the market has grown nearly fivefold, driven by rising incomes, deeper rural penetration, and stronger distribution networks. The industry grew at a CAGR of approximately 8% between Fiscal 2019 and Fiscal 2024, expanding from ₹8.3 trillion to ₹12.2 trillion. This momentum is expected to continue, with the sector poised to grow at 8–9% CAGR to reach around ₹17 trillion by Fiscal 2028.
Within FMCG, Food & Beverages remains the core driver of consumption. The segment grew 8.7% from FY19 to FY24, and is projected to maintain an 8–10% CAGR through FY24–FY28, reinforcing the shift towards packaged, branded, and high-quality food essentials.
Fortune’s evolution reflects this consumer shift. From a single-category edible oils brand, it expanded into a comprehensive portfolio meeting the needs of the modern Indian kitchen. As households increasingly prioritised hygiene, consistency, and trusted quality, the brand played a pivotal role in India’s transition from loose staples to branded packaged products— cementing its place in the cultural narrative of ‘Ghar Ka Khana’.
This milestone year also marks an important leadership transition at AWL, with Shrikant Kanhere taking over as Managing Director & CEO, while Angshu Mallick assumes the role of Executive Deputy Chairman after leading the company’s high-growth trajectory from inception.
Shrikant Kanhere, MD & CEO, AWL Agri Business Ltd., said, “The story of AWL is inseparable from the rise of India’s FMCG sector. Over the past 25 years, we’ve grown alongside a nation moving from loose staples to trusted, high-quality packaged foods. What matters most is the relationship we’ve built with our consumers, families who bring Fortune into their kitchens every day. This milestone isn’t about scale; it’s about the value we’ve created across the ecosystem, from farmers and partners to our teams and the communities we serve. As we look ahead, this anniversary becomes a springboard for our next chapter of growth and innovation. Our commitment is simple ‒ to keep strengthening the idea of ‘Ghar Ka Khana’ for every household in the country.’’
AWL’s landmark 2022 IPO was instrumental in unlocking value and accelerating infrastructure expansion. A key investment from the IPO proceeds is the Gohana Food Complex in Sonepat, Haryana—an 85-acre state-of-the-art agri-processing facility built with approximately ₹1,300 crore, making it one of India’s largest integrated food complexes. The facility strengthens AWL’s role in modernising India’s food supply chain, aligning with the country’s fast-growing food processing sector, estimated at US$354 billion in 2024 and projected to reach US$535 billion by the end of FY 2026, according to IBEF.
As Fortune marks 25 years, AWL Agri Business Ltd. remains committed to building a stronger, more resilient food ecosystem—delivering trusted, high-quality staples while continuing to nurture the warmth, authenticity, and cultural connection embodied by ‘Ghar Ka Khana’.
