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Fortune turns 25, a landmark moment that mirrors the rise of India’s FMCG powerhouse
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Wednesday, 26 November, 2025, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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AWL Agri Business Ltd. (formerly Adani Wilmar Limited) is celebrating a major milestone 25 years of its flagship brand Fortune, one of India’s most recognised and trusted food brands. The journey of Fortune, which began in 1999 with a single focus on edible oils, has since evolved into a nationwide household name, now present in one in every three Indian homes. Its portfolio today spans edible oils, atta, rice, pulses, besan, sugar, soya products, ready mixes, spreads and several kitchen essentials.
The brand’s silver jubilee comes at a time when India’s FMCG industry is witnessing unprecedented growth. Over the past two decades, the sector has expanded nearly fivefold, driven by rising incomes, rapid urbanisation, deeper distribution networks and rising rural penetration. The FMCG market, valued at ?8.3 trillion in FY19, surged to approximately ?12.2 trillion in FY24, clocking a steady CAGR of nearly 8%. Projections indicate this upward trajectory will continue, with the industry expected to touch Rs 17 trillion by FY28, growing at a CAGR of 8–9%.
Within this, the Food & Beverages segment remains the biggest growth engine, having grown 8.7% from FY19 to FY24, and projected to expand at 8–10% CAGR through FY28 to remain the largest contributor to India’s FMCG basket.
Fortune’s evolution perfectly aligns with this shift. As Indian consumers moved away from loose staples and embraced quality, hygiene and reliability, Fortune expanded from oils to an entire spectrum of packaged foods — becoming synonymous with the idea of ‘Ghar Ka Khana’. Its presence now spans metros, tier-II & III cities, and rural India, reflecting deep trust across demographics.
The 25th year also marks a leadership transition. Shrikant Kanhere has taken charge as managing director & CEO of AWL Agri Business Ltd., while Angshu Mallick moves into the role of executive deputy chairman after steering the company since inception.
Speaking on the milestone, Kanhere said,“The story of AWL is inseparable from the rise of India’s FMCG sector. What matters most is the relationship we’ve built with families who bring Fortune into their kitchens every day. This anniversary is a springboard for our next chapter of growth, innovation and value creation.”
A key turning point in Fortune’s journey was AWL’s 2022 IPO, which enabled major infrastructure investments, including the state-of-the-art Gohana Food Complex in Haryana’s Sonepat district — an 85-acre, fully integrated agri-processing facility built with around Rs 1,300 crore from IPO proceeds. The investment aligns with India’s expanding food processing industry, valued at US$354 billion in 2024 and projected to reach US$535 billion by FY26.
As Fortune marks 25 years, AWL reaffirms its mission to strengthen India’s food ecosystem with trusted, high-quality products — keeping the soul of ‘Ghar Ka Khana’ alive for every household.
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