AWL Agri Business Reports Mixed Q2 FY26 Results with 7% Sequential Volume Growth
AWL Agri Business Limited reported mixed Q2 FY26 results. Volume grew 7% sequentially to 1.68 million tonnes. EBITDA increased 7% sequentially to INR 600.00 crores, but decreased 9% year-on-year. Consolidated PAT rose 3% sequentially to INR 245.00 crores, down 21% year-on-year. The edible oil segment faced challenges from Nepal imports. Food and FMCG segment saw a 10% volume decline but positive PBT. Alternative channels grew 35%, with quick commerce expanding 86%. The company expects improved H2 FY26 performance due to festival demand, GST reduction on food products, and better agricultural production.
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AWL Agri Business Limited , formerly known as Adani Wilmar Limited, has reported a mixed performance for the second quarter of fiscal year 2026, with notable sequential growth but some year-on-year challenges.
Key Performance Highlights
- Volume Growth: The company delivered a volume of 1.68 million tonnes in Q2 FY26, representing a 7% sequential growth and a 2% year-on-year increase.
- EBITDA Performance: EBITDA reached INR 600.00 crores, up 7% sequentially from INR 572.00 crores in Q1 FY26, but down 9% year-on-year.
- Consolidated PAT: The company reported a consolidated Profit After Tax (PAT) of INR 245.00 crores, showing a 3% sequential growth but a 21% year-on-year decline.
Half-Year Performance
For the first half of FY26 (H1 FY26), AWL Agri Business reported:
- Total volume of 3.26 million tonnes, slightly lower than 3.31 million tonnes in H1 FY25
- EBITDA of INR 1,200.00 crores, down 13% from INR 1,300.00 crores in H1 FY25
- Consolidated PAT of INR 483.00 crores, a 23% decrease from INR 624.00 crores in H1 FY25
Segment-wise Performance
Edible Oil Segment
- Faced challenges from Nepal imports under the SAFTA agreement
- Nepal now accounts for 12% of India's soya imports at 0% duty, compared to 16.5% for domestic players
Food and FMCG Segment
- Experienced a 10% volume decline
- Delivered a positive PBT of INR 56.00 crores
Alternative Channels
- Grew by 35% in Q2 FY26
- Quick commerce expanded by 86%
Market Share and Distribution
- Basmati rice market share increased from 7.3% to 7.7%
- Wheat flour market share maintained at 5.5%
- The company now reaches close to 900,000 outlets directly
Management Commentary
Shrikant Kanhere, MD and CEO, stated, "We maintained gross margins above INR 11,000.00 per tonne and EBITDA above INR 3,500.00 per tonne. The strong sequential momentum suggests recovery from the sluggish demand seen in Q1 and early Q2, as edible oil prices normalize."
Angshu Mallick, Executive Deputy Chairman, commented on the outlook, "With the GST reduction from 18% to 5% on various food products and the upcoming festival season, we expect improved demand in H2 FY26. The marriage season and better agricultural production are also expected to boost consumption."
Future Outlook
The management expects H2 FY26 to show improvement, driven by:
- Festival season demand
- GST reduction on various food products
- Expected better agricultural production, especially in rabi crops
AWL Agri Business remains focused on expanding its distribution network and growing its food and FMCG segment, aiming to reach its target of INR 10,000.00 crores revenue by FY27.
The company continues to navigate challenges in the edible oil segment, particularly from Nepal imports, while leveraging growth opportunities in alternative channels and its food portfolio.
Historical Stock Returns for AWL Agri Business
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.17% | -1.47% | +2.15% | +3.50% | -21.67% | +0.95% |
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