AWL Agri Business Limited – Investor Presentation Summary

Key Operational Highlights

  • Q2FY27 volume reached 1.9 MMT, showing 14% YoY growth
  • H1FY27 volume stood at 3.6 MMT, up 11% YoY
  • Underlying Volume Growth (UVG) was 14% YoY in Q2FY27 and 11% YoY in H1FY27
  • Food & FMCG UVG grew 28% YoY in Q2FY27
  • Industry Essentials volume grew 26% YoY in Q2FY27 and 19% YoY in H1FY27
  • Direct reach increased by 7,000+ on QoQ basis in general trade distribution

Key drivers of operational performance: Strong demand for domestic oils, portfolio expansion in Food & FMCG, channel expansion in General Trade and Alternate Channels, and robust growth in oleochemicals & specialty chemicals.

Segment-wise Performance

Edible Oil Segment:

  • Q2FY27 revenue: ₹17,067 Cr (23% YoY growth)
  • H1FY27 revenue: ₹32,532 Cr (19% YoY growth)
  • Q2FY27 volume: 1.1 MMT (5% YoY growth)
  • H1FY27 volume: 2.0 MMT (3% YoY growth)
  • EBITDA/MT: ~₹4,700 for H1FY27

Food & FMCG Segment:

  • Q2FY27 revenue: ₹2,216 Cr (32% YoY growth)
  • H1FY27 revenue: ₹3,943 Cr (27% YoY growth)
  • Q2FY27 EBITDA: ₹71 Cr (-7% YoY)
  • H1FY27 EBITDA: ₹175 Cr (2% YoY)
  • EBITDA margin: 3% in Q2FY27, 4% in H1FY27

Industry Essentials Segment:

  • Q2FY27 revenue: ₹2,918 Cr (39% YoY growth)
  • H1FY27 revenue: ₹5,775 Cr (34% YoY growth)
  • Q2FY27 volume: 0.4 MMT (26% YoY growth)
  • H1FY27 volume: 0.8 MMT (19% YoY growth)
  • EBITDA/MT: ~₹4,300 for H1FY27

Explanation of significant changes in segment performance: Growth in Food & FMCG driven by Fortune and Kohinoor brands delivering double-digit revenue growth, with Fortune Pulses growing 40%+ YoY. Industry Essentials growth driven by oleochemicals & specialty chemicals business contributing almost 45% of segment revenue.

Financial Highlights

Revenue: ₹22,202 Cr (Q2FY27), ₹42,250 Cr (H1FY27)

EBITDA (excl. other income): ₹623 Cr (Q2FY27), ₹1,347 Cr (H1FY27)

PAT: ₹239 Cr (Q2FY27), ₹591 Cr (H1FY27)

Gross Profit: ₹2,138 Cr (Q2FY27), ₹4,272 Cr (H1FY27)

Margins: EBITDA margin (excl. OI) of 2.8% in Q2FY27

YoY/QoQ comparison: Q2FY27 revenue up 26% YoY and 11% QoQ; PAT down 2% YoY and 32% QoQ

Drivers of financial performance: Higher revenue growth across all segments, maintained healthy profitability in edible oils despite global price volatility, and scaling of Food & FMCG business.

Key Risks: Food inflation at 7.74% squeezing mass-market demand, rainfall deficit of ~13% potentially affecting Rabi crop yields, and increased government scrutiny on oil, spices, and processed foods.

Geographical Revenue Split

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Balance Sheet Snapshot

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Capex & Cash Flow Health

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Strategic & R&D Initiatives

Investments in Innovation: Strengthened Tops product portfolio through new launches including Chilly Oil, Multigrain Choco and No Onion-No Garlic Tomato Ketchup. Expanding oleochemicals value chain from basic to value-added products including surfactants, esters, fatty alcohol blends, and specialty ethoxylates.

Expected impact on growth: Food business targeting 20-25%+ ROCE at Company level as it matures. Oleochemicals business serving 300+ B2B end markets across home & personal care, agrochemicals, polymers additives, food ingredients, and lubricants.

Strategic Rationale: Building India's trusted food platform with diversified portfolio from everyday staples to premium health innovation. Expanding into high-growth oleochemicals market with scale leadership as India's No. 1 basic oleochemicals player.

Industry Trends & Business Environment

Macro/Industry Trends: Food inflation at 7.74% (September 2026), RBI repo rate increased to 5.50% (7-Oct 2026), rainfall deficit of ~13% across India, government stepping up inspections and sampling of oil, spices and processed foods.

Impact on Company: Loose, unbranded oil loses share benefiting organized players like AWL. Continued volatility in global edible oil prices affecting margins. Rabi crop yields may face pressure due to rainfall deficit.

Management Commentary & Growth Outlook

Strategic Outlook: Maintaining market leadership and stable market share in edible oils despite challenging operating environment. Continued scaling of Food & FMCG business expected to drive margin improvement over next five years.

FY Guidance: Targeting average long-term EBITDA margins of 3-4% for Food & FMCG business, with expected improvement as business scales.

Risks and Opportunities: Food inflation squeezing mass-market demand, but beneficial for organized players due to government scrutiny on unbranded products. Rabi crop yield pressure from rainfall deficit.

ESG Updates

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Digital Transformation

Enhanced digital capabilities in Q-commerce driving robust growth momentum. Building market leadership across E-com & Q-com platforms with strong market share across key food categories.