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Reliance Retail was the largest customer of (FCL) in FY22, contributing 63.06% of its sales, according to the annual report of the Kishore Biyani-led Future group’s FMCG arm. FCL is engaged in the business of sourcing, manufacturing, branding, marketing and distributing food and processed food items and health and personal care products. In the annual report, the list of top customers who individually contribute more than 10 per cent of FCL’s total revenue mentions only two companies – Reliance Retail and FRL – which together contributed ₹854.22 crore of its total revenue of ₹970.08 crore, or nearly 88%.
Reliance Retail contributed ₹611.75 crore, said the report, adding that the failure of the ₹24,713 crore deal with Reliance Group in April this year had a significant impact on its business.
A year before that, Reliance Retail had accounted for 26.81% of total sales of Rs 587 crore for the fiscal ended March 31, 2021. FRL contributed 55%.