AWL Agri Business, formerly known as Adani Wilmar Ltd., has reported its highest-ever revenue figures for the quarter and half-year ending September 30, 2025.
According to an exchange filing, the company achieved a record LTM (Last Twelve Months) revenue of ₹69,732 crore, marking a 28% increase year-on-year. This growth is significant despite the softer consumer demand observed throughout the fiscal year.
The second quarter of FY26 saw Ltd. generating a quarterly revenue of ₹17,605 crore, a 22% rise compared to the same period last year. The company attributes this growth to increased sales in its edible oils and Industry Essential segments, which saw revenue increases of 26% and 19% year-on-year, respectively. However, the Food & FMCG segment experienced a slight decline in revenue by 2%, primarily due to reduced non-branded rice exports and the consolidation of its non-basmati rice business.
PAT dips despite revenue growth
Despite the overall positive revenue growth, the company faced challenges in maintaining its profit margins. The Profit After Tax (PAT) for the quarter stood at ₹245 crore, a 21% decrease from the previous year. This decline is attributed to a strong base quarter in the prior year, which set a high benchmark for comparison. Nevertheless, AWL Agri Business Ltd. reported a normalised operating EBITDA of ₹559 crore for Q2 FY26 and ₹2,328 crore on an LTM basis, demonstrating resilience in its operational efficiency.
Retail reach sees strong growth
The company has also made significant strides in expanding its retail reach. According to the press release, AWL Agri Business Ltd. has expanded its direct retail presence by 15% year-on-year, now reaching 9 lakh outlets. Its rural distribution network has also grown substantially, covering approximately 58,000 towns, an eleven-fold increase since FY22. This expansion is part of the company’s strategy to enhance its rural distribution capabilities by rolling out micro fulfillment centers, which enable direct deliveries to small distributors within 4 to 5 hours.
Disclaimer: This article was generated using AI tools and has undergone editorial review for clarity and coherence.Segment-wise performance
In the edible oils segment, AWL Agri Business Ltd. reported a revenue of ₹13,828 crore for Q2, reflecting a 26% year-on-year growth. This growth was primarily price-led, as the segment experienced significant inflation over the past four quarters, leading to a softness in consumer demand. Despite this, the company managed to achieve low single-digit growth in branded product volumes, although sales of Palm oil and Mustard oil saw a decline. The introduction of a new 750ml pack size for Soya oil late in the quarter has shown promising sales traction.
The Food & FMCG segment, while facing challenges, posted strong sequential momentum with a 21% quarter-on-quarter volume growth. Excluding the G2G business, the segment achieved its highest-ever quarterly revenue, supported by robust branded sales and record performance in September. However, the decline in non-branded rice exports moderated total volume growth. The branded business within this segment saw a 7% year-on-year revenue growth, driven by double-digit volume gains in Basmati rice, sugar, and poha.
Industry Essentials segment
AWL Agri Business Ltd. also reported strong performance in its Industry Essentials segment, with a 20% year-on-year volume growth driven by Oleochemicals and de-oiled cake business. The segment recorded a revenue of ₹2,096 crore, up 19% year-on-year, and delivered strong profits with a PBT of ₹131 crore for the quarter.
Commenting on the results, Angshu Mallick, MD & CEO of AWL Agri Business Ltd., acknowledged the challenges posed by lower-than-expected consumer demand but highlighted the company’s agility in navigating external challenges.
“The Company recorded revenue of INR 17,605 crores, growing by 22% YoY, with an underlying volume growth of 2% YoY. Realisation in the edible oils business was higher due to a 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 an LTM basis in Sep ’25, recording an operating EBITDA of INR 2,328 crores and PAT of INR 1,084 crores. Our focus on improving the profitability in the Food & FMCG segment has led to the highest-ever PBT of 132 crores in H1, with a PBT margin of 4.3%,” Mallick said.
Disclaimer: This article was generated using AI tools and has undergone editorial review for clarity and coherence.