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AWL Agri Business Results: Latest Quarterly Results & Analysis

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AWL Agri Business Ltd. 03 Nov 2025 14:16 PM
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Q2FY26 Quarterly Result Announced for AWL Agri Business Ltd.

Edible Oils company AWL Agri Business announced Q2FY26 results

  • Revenue from Operations: Rs 17,605 crore compared to Rs 14,450 crore during Q2FY25, change 22%.
  • EBIT: Rs 502 crore compared to Rs 579 crore during Q2FY25, change -13%.
  • PBT: Rs 313 crore compared to Rs 402 crore during Q2FY25, change -22%.
  • PAT: Rs 245 crore compared to Rs 311 crore during Q2FY25, change -21%.

Angshu Mallick, MD & CEO, AWL Agri Business, said: (formerly known as Adani Wilmar Ltd.) said: “Consumer demand remained below expectations through the fiscal year, leading to lower-thanplanned volume growth. Nevertheless, the Company demonstrated agility in navigating external challenges, delivering a 7% sequential increase in sales volumes in Q2 over Q1.

The Company recorded revenue of Rs 17,605 crore, growing by 22% YoY, with an underlying volume growth of 2% YoY. Realization in edible oils business was higher due to YoY increase in the commodity prices, which also led to the softening of consumer demand in edible oils.

We continued to deliver healthy profits on LTM basis in Sep ’25 recording an operating EBITDA of Rs 2,328 crore and PAT of Rs 1,084 crore. Our focus on improving the profitability in the Food & FMCG segment has led to highest-ever PBT of 132 crore in H1, with PBT margin of 4.3%.

In the rice business, we delivered a strong turnaround in this financial year, achieving 30% volume growth in our branded Basmati business in both Q1 and Q2, along with improved overall profitability in the rice portfolio.

Quick commerce sales maintained strong momentum, delivering 86% YoY volume growth in Q2 and overall revenue from alternate channels (MT Ecom) surpassed Rs 4,400 crore over the last twelve months. According to internal estimates, our market share in e-commerce (including quick commerce) stands at ~50% in Soya oil, ~40% in Mustard oil, ~30% in besan (gram flour), ~25% in Sunflower oil and in the low teens for wheat flour - reflecting strong consumer preference for the ‘Fortune’ brand.

Food & FMCG volumes have already surpassed edible oils in alternate channels, and we aim to drive deeper penetration in general trade to achieve double-digit volume growth for the segment.”

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Edible Oils company AWL Agri Business announced Q1FY26 results

  • Revenue from operations grew to Rs 17,059 crore (21 % YoY).
  • Operating EBITDA came in at Rs 519 crore; Profit after tax stood at Rs 238 crore (down 24 % YoY).
  • Total sales volume slipped 5 % YoY to 1.58 million MT, mainly because of rice consolidation and muted consumer demand.
  • Cost of goods sold increased 25 % YoY, reflecting higher edible-oil input prices.
  • Finance cost eased 4 % YoY to Rs 159 crore.

Angshu Mallick, MD & CEO, AWL Agri Business, said: “The Company witnessed a temporary volume decline, primarily influenced by the consolidation of its regional rice operations and muted consumer demand. Encouragingly, the core categories delivered healthy volume growth, and revenue rose 21% YoY, driven by higher edible oil realizations. We also delivered healthy profits in LTM Jun ‘25 with operating EBITDA of Rs 2,384 crore and PAT of Rs 1,151 crore, nearing our highest-ever rolling 12-months profits, despite the headwind of custom duty cuts on edible oils. Our focus on improving the profitability in the Food & FMCG segment has led to highest-ever PBT of 75 crore in Q1, with PBT margin of 5.3%.

The reduction in customs duty on crude edible oils is expected to positively impact domestic refiners by boosting sales and curbing refined oil imports from both SAARC nations and edible oil producing countries. Additionally, the normalization of palm oil prices is likely to support volume growth in the coming quarters.

In the rice business, we delivered a strong turnaround in Q1, achieving double-digit volume growth in our Basmati business along with improved overall profitability in the rice portfolio.

With the resiliency of our core business and large opportunity, we expect to continue to benefit from the formalization of the Indian staple food industry.”

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Edible Oils company AWL Agri Business announced Q4FY25 results

  • Q4FY25 revenue stood at Rs 18,230 crore, up 38% YoY, with an underlying 8% volume growth. Segmentwise, revenue from Edible oils rose 45% YoY, Food & FMCG grew 9%, and Industry Essentials posted a 17% increase.
  • In Q4FY25, operating EBITDA stood at Rs 448 crore.
  • Profit After Tax (PAT) at Rs 191 crore.
  • Direct retail coverage grew 19% YoY to 8.6 lakh outlets, with rural town coverage exceeding 50,000 — a tenfold rise from FY22. This expanded footprint strengthens our platform for driving incremental volume growth in new markets
  • Alternate channels generated over Rs 3,600 crore in revenue in FY25, led by 100% YoY growth in Quick Commerce volumes in Q4. This reflects the impact of focused improvements in assortment, availability, and promotional strategies.

Angshu Mallick, MD & CEO, AWL Agri Business (formerly known as Adani Wilmar Ltd.) said: “The Company has delivered another strong quarter and achieved its best-ever financial year performance. We recorded 24% YoY revenue growth in FY25 and achieved the highest-ever full year revenue of Rs 63,672 crore

In FY25, the Kitchen Essential business delivered a strong performance, with edible oils achieving a 28% YoY increase in revenue, driven by an 10% YoY underlying volume growth. Similarly, the Foods & FMCG segment recorded a 26% YoY revenue growth, supported by 26% volume increase. However, the Industry Essentials business experienced a modest 2% revenue growth YoY.

The financial year experienced lower volatility in commodity prices, leading to robust profits. We achieved record performance, with operating EBITDA of Rs 2,482 crore and PAT of Rs 1,226 crore in FY25.

The Company has bolstered its capabilities in FY25 through an expanded distribution network, increased manufacturing capacities, and strong consumer engagements via ATL and BTL activities. With the growing consumer shift towards packaged foods—offering superior quality and hygiene —we are well-positioned to capitalize on opportunities in this vast market.”

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Edible Oils company Adani Wilmar announced Q3FY25 results

  • Best-ever trailing-twelve-months (TTM) performance with operating EBITDA at Rs 2,390 crore and PAT at Rs 1,192 crore on TTM basis Highest-ever revenue of Rs 16,859 crore in Q3, up by 31% YoY, with underlying volume growth of 5% YoY.
  • Highest-ever quarterly operating EBITDA of Rs 792 crore in Q3FY25, up by 57% YoY.
  • Highest-ever quarterly PAT of Rs 411 crore in Q3FY25, up by 105% YoY Food & FMCG recorded revenue growth of 22% YoY in Q3, with an underlying volume growth of 23% YoY. TTM revenue at ~Rs 6,150 crore.

Angshu Mallick, MD & CEO, Adani Wilmar, said: “The Company’s revenue grew by 31% YoY to Rs 16,859 crore. We have delivered another strong quarter, with double-digit growth in both edible oils and Food & FMCG segments. The edible oils revenue grew by 38% YoY and the Food & FMCG revenue grew by 22% YoY.

The Company has been delivering strong profits over the last five quarters. We have delivered record profits during the quarter, with EBTIDA at Rs 792 crore and PAT at Rs 411 crore. This has led to best-ever trailing-twelve-months (TTM) performance with operating EBITDA at Rs 2,390 crore and PAT at Rs 1,192 crore on TTM basis.

Our overall Food & FMCG business has crossed Rs 6,150 crore on TTM basis and we stay committed to building a very large packaged food business in India.

The Company has been becoming stronger and more diversified. Most of our strategies have been yielding positive results. Our edible oils have gained market share in underindexed markets and under-indexed categories like Sunflower oil and Mustard Oil. In wheat flour, we outpaced industry growth during the year. Additionally, the company has significantly expanded its direct rural coverage crossing 43,000 rural towns as of December ’24, up from 5,000 towns in March 2022, positioning us well for future growth. E-commerce revenue has grown by 41% YoY on TTM basis. The company has made strong inroads in the South, with a 15% YoY volume growth in branded products during Q3.

Additionally, the 'Fortune' brand is celebrating its 25th anniversary with a year-long series of consumer campaigns to mark this significant milestone.”

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Edible Oils company Adani Wilmar announced Q2FY25 results

  • Highest-ever half-yearly operating EBITDA in H1FY25 at Rs 1,232 crore, growth of 349% YoY.
  • Strong operating EBITDA of Rs 612 crore in Q2FY25, up 325% YoY.
  • Highest-ever half-yearly PAT in H1FY25 at Rs 624 crore.
  • Strong double-digit YoY growth of 12% and 18% on volume and revenue respectively in Q2, leading to overall revenue of Rs 14,460 crore.
  • Edible oil registered strong 21% YoY revenue growth, with underlying volume growth of 17% YoY.
  • Food & FMCG recorded revenue growth of 34% YoY, with an underlying volume growth of 33% YoY.

Angshu Mallick, MD & CEO, Adani Wilmar said: “The Company’s revenue grew by 18% YoY to Rs 14,460 crore. We have delivered another strong quarter, with double digit growth in both edible oils and Food & FMCG segments. The edible oils revenue grew by 21% YoY and the Food & FMCG revenue grew by 34% YoY.

The stability in edible oil prices augurs well for our business, allowing us to deliver strong profits over the past four quarters. In H1’25, we achieved our highest-ever half-year operating EBITDA of Rs 1,232 crore and PAT of Rs 624 crore.

We have been 2nd and 3rd largest player in Wheat flour and Basmati Rice business respectively. On the back of Trust and Quality, along with branding investments, our flagship brand ‘Fortune’ has been gaining good acceptance with consumers for the entire range of kitchen essentials. This along with the increasing retail penetration and new towns reach is leading to strong growth in our banded portfolio. Our other food products like pulses, besan, soya chunks, poha has also been growing in strong double digit and they in aggregate has now reached Rs 1,500 crore on LTM basis.

Our overall Food & FMCG business has crossed Rs 5,800 crore on LTM basis and we stay committed to build a very large packaged food business in India.”

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Edible Oils company Adani Wilmar announced Q1FY25 results:

  • The Company achieved revenue of Rs 14,169 crore in Q1FY25, driven by 12% YoY volume growth. Both Edible oils and Food & FMCG segments delivered strong double-digit volume growth, of 12% YoY and 42% YoY respectively, aided by growth in packaged staple food. While Oleo and Castor oil in the Industry Essential segment experienced strong double digit volume growth, a decline in the oil meal business impacted the segment’s overall growth.
  • Strong business momentum has led to increased market share in key product categories. In edible oils, ROCP (Refined Oil Consumer Pack) market share of AWL increased by 60bps YoY to 19.0% on a moving annual total (MAT) basis, whereas in Wheat flour, market share increased by 90bps YoY to 5.9%. Additionally, branded exports volume has surged by 36% YoY.
  • With stable edible oil prices, the Company has posted strong profits over the last three quarters. For Q1FY25, it delivered its highest-ever EBITDA at Rs 619 crore and a PAT of Rs 313 crore.

Commenting on the results, Angshu Mallick, MD & CEO, Adani Wilmar said: “The Company’s revenue grew by 10% YoY to Rs 14,169 crore. The consumer shift to branded staples is benefiting us significantly. We have delivered another strong quarter, with double digit growth in both edible oils and Food & FMCG segments. The edible oils volume grew by 12% YoY to surpass 1 mn MT and the Food & FMCG volume grew by 42% YoY, exceeding Rs 1,500 crore in Q1.

The stability in edible oil prices augurs well for our business, allowing us to deliver strong profits over the past three quarters. In Q1FY25, we achieved our highest-ever EBITDA of Rs 619 crore, a 375% increase YoY and PAT of Rs 313 crore.

With our trusted brand, Fortune, we expect continued market share gains from regional brands. Our Food products are making significant inroads into Indian households, and we plan to meet this large demand by enhancing our Food distribution through our edible oil network. In under two years since launching our dedicated HORECA distribution channel, we have surpassed Rs 500 crore in revenue on a last twelve-month basis and achieved a 90% YoY volume increase in Q1.”

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Edible Oils company Adani Wilmar announced Q4FY24 & FY24 results:

Q4FY24 & FY24 Financial Highlights:

  • Profit After Tax (PAT): Rs 157 crore, marking a 67% YoY growth from Q4FY23 PAT of Rs 94 crore
  • Food & FMCG sales volume exceeded 1 million MT
  • Food & FMCG segment revenue for FY24 nearly doubled over 2 years to approximately Rs 5,000 crore
  • Edible oils volume growth of 11% in Q4FY24 and 9% in FY24
  • Wheat Flour market share increased by 60 basis points to 5.6%
  • HORECA segment revenue crossed Rs 400 crore in FY24
  • Edible Oil: Volume of 0.98 million MT (up 11% YoY); revenue of Rs 10,195 crore (down 6% YoY)
  • Food & FMCG: Volume of 0.28 million MT (up 9% YoY); revenue of Rs 1,341 crore (up 16% YoY)
  • Industry Essentials: Volume of 0.28 million MT (down 22% YoY); revenue of Rs 1,702 crore (down 12% YoY)
  • FY24 Revenue: Rs 51,262 crore
  • Edible Oil : Volume of 3.67 million MT (up 9%); revenue of Rs 38,788 crore (down 16% YoY)
  • Food & FMCG : Volume of 1.03 million MT (up 16%); revenue of Rs 4,994 crore (up 23% YoY)
  • Industry Essentials : Volume of 1.32 million MT (up 8%); revenue of Rs 7,479 crore (down 7% YoY)

Commenting on the results, Angshu Mallick, MD & CEO, Adani Wilmar Limited said: “We continued to witness strong volume growth in our edible oils & foods business driven by increased retail penetration. A focused approach in sales & marketing and regional approach in each category is leading to gaining market share from the local players. The adoption of our Integrated Business model strategy allows us to effectively compete with large and regional players.

With fast-growing volumes, the Company has achieved major milestones during the year. In fiscal FY’24, Food & FMCG business reached 1 million MT in sales and overall Company surpassed 6 million MT in sales. Revenue in Food & FMCG segment has nearly doubled in last 2 years to reach almost Rs 5,000 crore in FY’24.

Improvement in branded mix in edible oils during the year has also led to better profitability for the Company in the second half, with reported PAT in H2FY24 of Rs 358 crore and Rs 404 crore on a consolidated and standalone basis respectively.

The challenges faced by the company in Bangladesh operations have been overcome with the improved forex situation and fundamentals of the economy. The operations have come back to normalcy this quarter. Our brand “Rupchanda” remains the market leader in Bangladesh in the Edible Oil category."

Result PDF

Edible Oils company Adani Wilmar announced Q3FY24 & 9MFY24 results:

Key Highlights:

  • Total Revenue: Rs 12,828 crore in Q3FY24, a decrease of 17% YoY; Rs 38,024 crore in 9MFY24, a 14% decrease YoY.
  • EBITDA: Rs 504 crore in Q3FY24; Rs 778 crore in 9MFY24.
  • Profit Before Tax (PBT): Rs 281 crore in Q3FY24; Rs 105 crore in 9MFY24.
  • Q3FY24: 5% YoY increase, 1.54 MMT in Q3 FY24 versus 1.47 MMT in Q3FY23.
  • 9MFY24: 13% YoY increase, 4.48 MMT in 9MFY24 versus 3.98 MMT in 9MFY23.
  • Edible Oil Market Share: Reached 19.8% in Dec '23.

Segment-wise Performance

  • Edible Oil: Revenue of Rs 9,711 crore in Q3FY24, YoY decrease of 23%; 8% volume growth in 9MFY24.
  • Food & FMCG: Revenue grew 26% YoY in 9MFY24 to Rs 3,653 crore; 17% YoY volume growth in Q3.
  • Industry Essentials: Volume growth of 17% in Q3 and 21% in 9M FY24.

Commenting on the results, Angshu Mallick, MD & CEO, Adani Wilmar, said: “We continued to witness the growth momentum in packaged staple foods driven by a shift in consumer preferences for hygienic and quality products. The revenues from the branded products in the domestic market, under the Food & FMCG segment have been growing at 40% YoY in the past 9 quarters enabling us to close FY’24 with an estimated ~Rs 5,000 crore of revenue in the segment.

We are putting our energies into rapidly scaling up our distribution network for General Trade to realize the immense opportunity available in packaged staple foods. At the same time, we are developing our HORECA and Exports channels which will continue to witness much faster growth in the near future. Our strong market share in the alternate channels put us in an advantaged position from the fast-growing rate of this channel.”

Result PDF

Edible Oils company Adani Wilmar announced Q2FY24 & H1FY24 results:

1. Revenue Growth:

  • Q2FY23:
    • Volume (MMT): 1.46, a YoY increase of 11%.
    • Revenue: Rs 12,267 crore, showing a YoY decrease of 13%.
    • Gross Profit: Rs 1,223 crore, down 9% YoY.
    • EBITDA: Rs 144 crore, a significant YoY decrease of 43%.
    • PBT (Profit Before Tax): Rs (108) crore.
    • PAT (Profit After Tax): Rs (131) crore.
  • H1FY24:
    • Volume (MMT): 2.95, with an 18% YoY increase.
    • Revenue: Rs 25,195 crore, marking a YoY decrease of 13%.
    • Gross Profit: Rs 2,400 crore, down 15% YoY.
    • EBITDA: Rs 274 crore, a substantial YoY decrease of 61%.
    • PBT (Profit Before Tax): Rs (176) crore.
    • PAT (Profit After Tax): Rs (210) crore.


2. Edible Oil Segment:
- The Edible Oil segment grew by 4% YoY on volumes in Q2FY24, dragged by lower volumes in B2B sales.
- The branded sales in the edible oil segment grew faster than overall sales, registering a growth of 12% YoY on volumes in Q2FY24.
- The growth in edible oils segment was primarily led by sunflower oil and mustard oil, which have been growing faster than the industry due to strong brand equity.

3. Food & FMCG Segment:
- The Food & FMCG segment, which includes products such as wheat flour, rice, pulses, besan, sugar, poha, and soap, continued to outperform.
- In Q2FY24, the segment revenues grew at 26% YoY, with an underlying volume growth of 19% YoY.
- The domestic foods business grew by 50% YoY during the quarter, supported by strong brands - Fortune and Kohinoor.

4. Industry Essentials Segment:
- The industry essentials business grew by 25% YoY in Q2FY24, supported by robust growth in Castor & Oleochemical businesses (20% growth).

5. Profitability:
- Profitability was adversely impacted due to loss in the edible oil segment, which was partially offset by better margins in the Food & FMCG and industry essential segments.
- Outlook: The Company expects the profitability of Edible Oils to come back to normal levels in terms of Gross Margin and EBITDA per ton. Food & FMCG and Industry Essentials are expected to continue their profitability momentum.

"We continued the growth momentum across all the business categories, amidst the challenging environment in the edible oils segment. The Company gained market share across most of the edible oil & food categories, given the immense focus on expanding our direct reach and rural town coverage. Today, 30% of our sales come from rural towns, wherein more than 70% population resides. In the past 6 months, we have added over 13,000 towns, and we will continue this growth. The out-of-home consumption continues to grow with our HoReCa business showing volume growth of over 50% on a QoQ basis." - Angshu Mallick, MD & CEO, Adani Wilmar.

 

 

Result PDF

Edible oil firm Adani Wilmar announced Q3FY23 results:

  •  Q3FY23:
    • In Q3FY23, Adani Wilmar Limited recorded 16% volume growth and 7% revenue growth. Profit after tax grew by 16% YoY.
    • In 9MFY23, Company recorded 13% growth in both volume and revenue.
    • Food & FMCG segment - 
      • This new growth engine of the Company is now contributing 15% by volume to the overall sales and delivered 27% volume growth in Q3FY23.
      • In the Basmati Rice category, we re-launched the ‘Kohinoor’ brand in August 2022, following its acquisition by AWL. Kohinoor is scaling up well and has crossed Rs 100 crore of revenue on annualized run rate basis.
      • Overall Food & FMCG basket clocked Rs ~2,900 crore of revenue in the first 9 months and will register around Rs 4,000 crore revenue for the full year FY23.
    • Edible Oil segment – 
      • We grew our Mustard Oil volume by 50% YoY during Q3. ‘Fortune’ brand continues to be the no.1 player in ‘Kachi Ghani’ Mustard Oil with the next largest player being a distant no.2
    • Industry essentials – 
      • The Company continued its leadership position in Castor Oil exports, increasing its market share to 32% (of castor oil exports from India) in Q3 FY23.
    • Alternate Channel:
      • Alternate channel (E-com, Quick commerce, Modern Trade, eB2B) registered a strong YoY volume growth of 32% & 26% in Q3FY23 and 9M FY23, respectively.

Commenting on the results, Mr. Angshu Mallick, MD & CEO, Adani Wilmar Limited said: “We have been witnessing a consistent demand for safe, hygienic, and nutritious packaged staple food. We are leveraging the distribution network, manufacturing facilities, logistics and customer relationships of edible oil business to grow rapidly in Food & FMCG business, which offers a much larger opportunity compared to our well-established edible oil business. We are also expanding our product portfolio with region specific products, ready-to-cook products, and category adjacencies.

The Company is progressing well in the forward integration of its Industry essential business, resulting in the growth in sales of specialty chemicals, in addition to the growth in basic oleochemicals from capacity expansion.

In Q3, the standalone volume grew by 17% to 1.41 mn MT, leading to EBITDA growth of 23% and PAT growth of 15%. For the quarter, the Company recorded consolidated revenue at Rs 15,438 crore and on standalone basis, registered revenue of Rs 14,714 crore, EBITDA of Rs 623 crore and PAT of Rs 277 crore in Q3.”

 

Result PDF

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