Quarter century celebration anchors Fortune 25 year milestone in India FMCG growth

AWL Agri Business Ltd is marking a major brand landmark as Fortune completes 25 years in the market, with the Fortune 25 year milestone positioned as part of the broader rise of India’s fast moving consumer goods and packaged food industry. What began in 1999 as an edible oils label has become a household name across everyday staples.

Fortune today reaches one in every three Indian households with a portfolio that ranges from edible oils to atta, rice, besan, pulses, sugar, soya products, ready mixes, spreads and other kitchen essentials. The brand’s story has unfolded alongside the expansion of the national FMCG market, which has grown almost fivefold over the past two decades.

Industry estimates indicate that the overall FMCG sector grew at a compound annual growth rate of about 8 percent in value terms between Fiscal 2019 and Fiscal 2024, rising from nearly Rs 8.3 trillion to around Rs 12.2 trillion. Rising incomes, deeper urban and rural consumption and wider distribution networks have powered that shift. Projections suggest the industry could grow at 8 to 9 percent annually from Fiscal 2024 to Fiscal 2028, reaching roughly Rs 17 trillion.

Within that, food and beverages remain a key demand driver. The segment is expected to grow at 8 to 10 percent a year between Fiscal 2024 and Fiscal 2028, up from a reported 8.7 percent growth between Fiscal 2019 and Fiscal 2024 to a current size near Rs 9.3 trillion.

Fortune’s evolution mirrors changing household expectations. Indian consumers have moved away from loose, unbranded staples toward packaged products that promise consistency, hygiene and quality. Over time, the brand has become closely associated with the idea of ghar ka khana, serving families in metros, smaller towns and rural markets.

This anniversary also coincides with a leadership transition at AWL. Shrikant Kanhere has taken over as managing director and chief executive officer, while Angshu Mallick has moved into the role of executive deputy chairman after steering the business since inception. The new leadership is expected to focus on the next phase of category expansion, digital distribution and value added innovation.

Kanhere said the company’s story is inseparable from the rise of India’s FMCG landscape, noting that Fortune grew alongside a national shift from loose staples to trusted packaged foods. He stressed that the milestone is about the value created for farmers, partners, teams and communities, and described the anniversary as a springboard for the next chapter of growth centred on strengthening ghar ka khana for every household.

AWL’s initial public offering in 2022 unlocked capital for large scale infrastructure investments, including the Gohana Food Complex in Haryana’s Sonepat district. Built with about Rs 1300 crore from IPO proceeds and spread across 85 acres, the facility is described as one of India’s largest integrated agri processing complexes and a symbol of the company’s intent to modernise the food supply chain.

That investment sits within a food processing sector valued at about 354 billion dollars in 2024 and expected to reach around 535 billion dollars by the end of Fiscal 2026. As Fortune marks 25 years, AWL is positioning itself at the intersection of trusted home staples, scale manufacturing and a growing packaged food industry, with an ongoing focus on keeping the warmth of ghar ka khana central to its brand story.

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