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Adani Wilmar expects September quarter revenue to grow in low-single-digits as the company absorbs edible oil market shocks of high inflation and sharp price drops.

The company cited multiple macro challenges that continued to impact the business during the quarter, led by geopolitical tensions, rising interest rates, a slow uptick in rural demand and a delayed withdrawal of monsoon in most parts of India.

Adani Wilmar also expects a hit to the margin due to higher-priced inventory and depreciation in the rupee against the US dollar.

For the first half of the current financial year, the company expects revenue and volumes to grow in low-double-digits.

The company's edible oil business witnessed higher volume growth in the masstige category than premium due to downtrading that continued during the quarter. The business of industry essentials also grew nearly 20 percent during the quarter.

Adani Wilmar's CEO, in an interaction with CNBC-TV18 last month, said he expects edible oil consumption to substantially increase due to the cooling off in prices and the upcoming festive season.

Also Read: Adani Wilmar expects big boom in edible oil consumption

After a sharp rise earlier this year, the prices of edible oils like palm oil, soyabean oil and sunflower oil are back to pre-COVID levels. The sharp correction has left players with a high-priced inventory. The company has passed on the benefits of lower prices to customers to maintain its market share.

However, the company is hopeful of a recovery in the second half due to softening of commodity prices and higher production of foodgrains estimated for the full financial year. The company remains confident of a sequential improvement in demand trends along with easing inflation and a good monsoon.

Last month, Adani Wilmar announced plans to launch a new do-it-yourself biryani kit this financial year under the Kohinoor brand. The company is looking to leverage its recent acquisition of Kohinoor in May this year to expand the ready-to-cook range in the market.

Shares of Adani Group's most recent listing may be trading lower on Thursday, but the stock has more than doubled this year.