Fortune Brand Celebrates 25 Years, A Milestone that Reflects the Rise of India’s FMCG Industry

National, 24 November 2025: AWL Agri Business Ltd. (formerly Adani Wilmar Limited) is celebrating 25 years of its flagship brand Fortune, marking a quarter-century journey that has paralleled the extraordinary expansion of India’s FMCG and packaged food sector. What began in 1999 as an edible oils business has transformed into one of India’s most trusted packaged food brands, now present in one in every three households across the country with a portfolio spanning edible oils, atta, rice, besan, pulses and other kitchen essentials.

AWL marks this milestone at a time when India’s FMCG market has grown almost fivefold over the past two decades.  The overall FMCG industry has grown at a CAGR of approximately 8% from Fiscal 2019 to Fiscal 2024 in value terms, growing from approximately ₹ 8.3 trillion in Fiscal 2019 to approximately ₹ 12.2 trillion in Fiscal 2024. This surge has been driven by rising consumer incomes, increasing consumption in both urban and rural areas, and rapid expansion of distribution networks. Looking ahead growth is expected to remain robust. Indian FMCG industry is expected to grow at a CAGR of 8% - 9% from Fiscal 2024 to Fiscal 2028, growing in size to around ₹ 17 trillion from current levels.

Food and Beverages is expected to drive demand in the industry with the segment poised to grow at 8% - 10% CAGR between Fiscals 2024 and 2028. F&B industry grew by 8.7% from FY 19 to 24, to the current size of around ₹ 9.3 trillion in fiscal 2024.

Fortune's journey mirrors this transformation. What began as an edible oils business has expanded into a comprehensive food portfolio ‒ atta, rice, pulses, besan, sugar, soya products, ready mixes, spreads and value-added essentials. The brand has become deeply embedded in the concept of ‘Ghar Ka Khana’, serving families across metros, small towns and rural India.

The shift reflects a fundamental change in consumer behaviour. Indian households now prioritise consistency, hygiene and quality in everyday staples ‒ moving decisively away from loose, unbranded products toward trusted packaged alternatives. Fortune grew right alongside this evolution, becoming synonymous with the modern Indian kitchen.

This milestone year also marks a leadership transition with Mr Shrikant Kanhere taking over as Managing Director & CEO, guiding AWL and Mr Angshu Mallick moving into the role of Executive Deputy Chairman after steering the company’s high-growth journey since its inception. The new leadership will see through the next phase of category expansion, digital distribution and value-added innovation.

“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.”

Shrikant Kanhere, MD & CEO,AWL Agri Business Ltd.

AWL’s 2022 IPO was a pivotal moment, unlocking value for all the stakeholders. The listing enabled significant infrastructure investments, including the new Gohana Food Complex in Haryana’s Sonepat district, one of India’s largest integrated agri-processing facilities. Built with ~₹1,300  crore from IPO proceeds and spread across 85 -acres, the complex represents AWL's commitment to modernising India’s food supply chain. This investment aligns with India’s expanding food processing sector, valued at US$ 354 billion in 2024 and expected to reach US$535 billion by end of FY 2026, according to IBEF.

As Fortune celebrates 25 years, AWL remains focused on strengthening India’s food ecosystem through trusted, high-quality products while keeping the warmth and authenticity of ‘Ghar Ka Khana’ at the heart of everything it does.