Financial Performance - Q2 FY27

  • Consolidated revenue grew 26% YoY to ₹22,202 crore
  • Underlying volume growth of 14% YoY
  • Normalized Operating EBITDA (excluding Other Income) grew 11% YoY to ₹623 crore
  • PAT stood at ₹239 crore compared to ₹245 crore in corresponding quarter last year
  • Marginal PAT decline attributed to minimum corporate tax computed on revenue of Bangladesh subsidiary under local regulations

Financial Performance - H1 FY27

  • Consolidated revenue grew 22% YoY to ₹42,250 crore
  • Underlying volume growth of 11%
  • Normalized Operating EBITDA grew 25% YoY to ₹1,347 crore
  • PBT (including profit from joint ventures) grew 27% YoY to ₹822 crore
  • PAT grew 22% YoY to ₹591 crore

Segment Performance

Food & FMCG Segment

  • Revenue grew 32% YoY to ₹2,216 crore
  • EBITDA margin stood at 3.2%, within management's FY27 guidance range of 3-4%
  • Rice & Wheat Flour: Both categories maintained double-digit revenue growth
  • Basmati Rice business gained market share
  • Kohinoor brand recorded double-digit revenue growth
  • Fortune Pulses grew over 40% YoY, crossing ₹100 crore quarterly revenues
  • Health & Convenience Portfolio LTM revenues crossed ₹1,400 crore

Edible Oils Segment

  • Volume growth of 5% YoY
  • EBITDA of approximately ₹4,100 per MT, in line with guidance of ₹4,000-4,500/MT
  • Maintained market share with growth in domestic oils (Mustard, Groundnut, Cottonseed)

Industry Essentials Segment

  • Volume growth of 26% YoY
  • EBITDA of approximately ₹4,300/MT, ahead of management estimates
  • Oleochemicals & Specialty Chemicals recorded revenue growth exceeding 25% YoY
  • Oleochemicals & Specialty Chemicals contributed approximately 45% of segment revenue

Product Development

  • Launched Fortune Yellow Mustard Oil
  • Recently introduced products (Olive Oil, Cold-Pressed Mustard Oil, Multigrain Atta) gained traction
  • GD Foods subsidiary expanded TOPS portfolio with Chilli Oil and Multigrain Chocos

Distribution Channels

  • General Trade: Direct retail reach expanded to approximately 0.97 million outlets
  • Alternate Channels (E-commerce, Quick Commerce, Modern Trade): Grew 13% YoY
  • Quick Commerce: Grew over 40% YoY
  • HoReCa: Revenue grew 22% YoY, with LTM channel revenues crossing ₹800 crore
  • Branded Exports: Revenue grew 72% YoY

Subsidiary Performance

  • GD Foods (TOPS): Sauces & Condiments business recorded revenue growth exceeding 30% YoY with similar underlying volume growth
  • Omkar Chemicals: Specialty chemicals business recorded volume growth of 16% YoY

Management Commentary

Mr. Shrikant Kanhere, MD & CEO, stated the company delivered strong performance with 26% revenue growth and 14% volume growth. The strategy focuses on building India's largest Food Platform anchored in Daily Essentials and Centre-of-the-Plate categories. Focus remains on accelerating growth in packaged foods, expanding premium health and convenience portfolio, and improving profitability through scale and operating efficiencies.

Company Overview

AWL Agri Business Ltd. serves 135 million households with 24 manufacturing facilities across 11 states, including India's largest single-location refinery in Mundra (5,000 tons per day capacity). Supply chain includes 110+ stock points, over 10,000 distributors and sub-distributors, and retail network of 2.6 million outlets.