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AWL Agri Business Q2 revenue rises 26 %
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Thursday, 29 October, 2026, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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AWL Agri Business Ltd (AWL) reported a 26 per cent year-on-year (YoY) increase in consolidated revenue to Rs 22,202 crore for the second quarter ended September 30, 2026, driven by strong performance in its Food & FMCG portfolio and industry essentials segment. The company recorded underlying volume growth of 14 per cent during the quarter.
Normalised operating EBITDA rose 11per cent YoY to Rs 623 crore, while profit after tax (PAT) stood at Rs 239 crore, compared with Rs 245 crore in the corresponding quarter of the previous year. The marginal decline in PAT was primarily attributed to minimum corporate tax applicable to the company's Bangladesh subsidiary under local regulations, which increased consolidated tax expenses.
Commenting on the performance, Shrikant Kanhere, MD & CEO, AWL Agri Business, said the company's growth reflected the strength of its diversified portfolio and execution across businesses. He highlighted Food & FMCG as a key growth driver, with revenue increasing 32per cent YoY to Rs 2,216 crore, while profitability remained within expectations.
Kanhere said the company's strategy is focused on building one of India's largest and most trusted food platforms, with an emphasis on daily essentials and centre-of-the-plate categories. The company plans to accelerate packaged food growth, expand its premium, health-oriented and convenience-led offerings, and improve profitability through scale and operational efficiencies. It will also focus on strengthening its edible oils business and expanding its value-added oleochemicals and specialty chemicals portfolio.
The Food & FMCG segment recorded 32 per cent YoY revenue growth to Rs 2,216 crore, supported by demand across packaged foods and daily essentials. Segment EBITDA margin stood at 3.2per cent, within the company's guidance range of 3–4per cent for FY27.
The rice and wheat flour categories maintained double-digit revenue growth. The Basmati rice business continued to gain market share, while the Kohinoor brand also registered double-digit revenue growth during the quarter.
Fortune Pulses recorded growth of more than 40per cent YoY, with quarterly revenue crossing Rs 100 crore. AWL is expanding its regional stock-keeping unit (SKU) portfolio and distribution through general trade and quick commerce to tap the opportunity in branded pulses, a largely unorganised category. Besan, soya nuggets, sugar and other daily essentials also remain key growth categories.
The company's health and convenience portfolio crossed Rs 1,400 crore in last-twelve-month (LTM) revenue. The portfolio includes soya nuggets, poha, sattu, brown rice, biryani kits, olive oil, cold-pressed mustard oil and the Fortune Xpert range of functional oils. AWL continues to broaden its premium and health-oriented offerings to address changing consumer preferences.
The Edible Oils segment registered five per cent YoY volume growth, with EBITDA at approximately Rs 4,100 per metric tonne (MT), within the management's guidance range of Rs 4,000–4,500 per MT.
Despite a challenging operating environment, AWL maintained its market share, supported by growth in domestic oils, particularly mustard, groundnut and cottonseed oils. The company continues to focus on strengthening its branded portfolio and premium offerings.
Industry Essentials recorded 26per cent YoY volume growth, with EBITDA of approximately Rs 4,300 per MT, exceeding management expectations. The performance was supported by an improving product mix.
Within the segment, oleochemicals & specialty chemicals reported revenue growth of more than 25per cent YoY, contributing approximately 45 per cent of segment revenue. AWL is looking to scale its value-added specialty chemicals portfolio by leveraging backward integration, large-scale oleochemical operations and access to the Wilmar Group's global research and development and formulation capabilities. The products serve industries including home and personal care, pharmaceuticals, food and agrochemicals.
AWL continued to strengthen its premium, health-oriented and convenience-led portfolio with the launch of Fortune Yellow Mustard Oil. Products introduced earlier, including olive oil, cold-pressed mustard oil and multigrain atta, continued to gain traction during the quarter.
GD Foods, an AWL subsidiary, expanded its TOPS portfolio with the launch of chilli oil and multigrain chocos. Its sauces and condiments business recorded revenue growth of more than 30per cent YoY, supported by strong performance across sauces, instant noodles and vermicelli.
Omkar Chemicals, another subsidiary, reported 16 per cent YoY volume growth in its specialty chemicals business and continued to focus on expanding its value-added product portfolio.
AWL continued to strengthen its general trade network, expanding direct retail reach to approximately 0.97 million outlets. The company remains focused on improving retail throughput and distribution efficiencies.
Revenue from alternate channels, including e-commerce, quick commerce and modern trade, increased 13 per cent YoY during the quarter. Quick commerce grew more than 40per cent, supported by a wider product assortment, improved availability and stronger execution across platforms, particularly in packaged foods.
The HoReCa (hotels, restaurants and catering) channel recorded 22 per cent YoY revenue growth, with LTM revenue exceeding Rs 800 crore. Branded exports grew 72per cent YoY, driven by expanding international distribution and greater availability of AWL's branded food portfolio.
The company's performance reflects continued expansion across packaged foods, edible oils and industrial ingredients, with a focus on strengthening branded offerings, widening distribution and building sustainable, profitable growth across its businesses.
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