Adani Wilmar's Solan facility raided for alleged GST violations: Report

Adani Wilmar had failed to deposit GST collection for "several years" and this reportedly led to the inspection

A unit of Adani Wilmar in the Solan district of Himachal Pradesh was raided by the Himachal Pradesh State Excise Department, according to a report by the Indian Express (IE). The officials inspected a carrying and forward unit of the company. 

The company had failed to deposit Goods and Services Tax (GST) collection for 'several years' and this reportedly led to the inspection. According to IE, the officials checked the company's accounts and goods. A report will be prepared and future action will be decided based on it. 

This comes just days after Congress leader Rahul Gandhi said that the Bharatiya Janta Party (BJP) has close ties with Gautam Adani. Currently, the Adani Group's retail arm is also engaged in a standoff with truck operators. The company had shut down two cement plants after the transporters increased freight rates. 

Earlier this week, Adai Wilmar recorded a 16.4 per cent rise in its net profit to Rs 246.16 crore in the third quarter of the current financial year (Q3FY23).

The joint venture between Adani Group and Singapore-based Wilmar Group had reported a loss to the tune of Rs 9.11 crore in Q3FY22 and a profit of Rs 14.70 crore in Q2FY23. The firm also saw its volumes grow by 16 per cent and revenue increase by 7.4 per cent to Rs 15,438.05 crore in Q3FY23.

"This (volume growth) was achieved on the back of the large opportunity available in the packaged food industry, well supported by our portfolio of premium and popular brands, pan-India distribution, and manufacturing facilities across the length and breadth of the country," the company said in its release.