Kolkata, October 27, 2026 : AWL Agri Business Limited (AWL), one of India’s largest Food & FMCG companies, today announced its financial results for the quarter and half year ended 30 September 2026.
The Company delivered strong revenue and volume growth in Q2 FY27, led by the continued expansion of its Food & FMCG portfolio and healthy performance in Industry Essentials. Consolidated Revenue grew 26% YoY to INR 22,202 crore, with underlying volume growth of 14%. Normalized Operating EBITDA increased 11% YoY to INR 623 crore, while PAT stood at INR 239 crore, compared with INR 245 crore in the corresponding quarter last year.
The marginal decline in PAT was primarily attributable to minimum corporate tax computed on revenue of Bangladesh subsidiary under local regulations, which impacted consolidated tax expenses during the quarter.
Management Remarks
Commenting on the performance, Shrikant Kanhere, MD & CEO, AWL Agri Business Limited, said:
“We delivered a strong performance in Q2 FY27, with revenue growing 26% and underlying volume growth of 14%, reflecting the strength of our diversified portfolio and consistent execution across businesses. Our Food & FMCG business remained a key growth driver, delivering 32% revenue growth and crossing INR 2,200 crore in quarterly revenues, while maintaining profitability in line with our expectations.
Our strategy remains clear: to build one of India’s largest and most trusted Food Platforms, anchored in Daily Essentials and Centre-of-the-Plate categories. The shift towards branded and packaged foods presents a significant growth opportunity, and our strong brands, integrated manufacturing capabilities and extensive distribution network position us well to capitalize this opportunity.
Our focus remains on accelerating growth in packaged foods, expanding our premium, health and convenience portfolio, and improving profitability through scale and operating efficiencies. We will continue to strengthen our leadership in Edible Oils and scale our value-added Oleochemicals & Specialty Chemicals portfolio, with a clear focus on delivering sustainable and profitable growth across businesses over the long term.”
Segment Performance
Food & FMCG
The Food & FMCG segment recorded 32% YoY revenue growth to INR 2,216 crore, supported by strong performance across its portfolio of packaged food and Daily Essentials. Segment EBITDA margin stood at 3.2%, within the management’s FY27 guidance range of 3–4%.
- Rice & Wheat Flour: Both categories maintained double-digit revenue growth. The Basmati Rice business continued to gain market share, while the Kohinoor brand also recorded double-digit revenue growth during the quarter.
- Emerging Food Categories: Fortune Pulses grew over 40% YoY, with quarterly revenues crossing INR 100 Crore. AWL is expanding its regional SKU portfolio and distribution across General Trade and Quick Commerce, targeting the significant opportunity within branded products in this largely unorganized category. Besan, Soya Nuggets, Sugar and other Daily Essentials remain important growth categories within the packaged food portfolio.
- Health & Convenience Portfolio: LTM revenues crossed INR 1,400 crore, supported by a diversified range of products including Soya Nuggets, Poha, Sattu, Brown Rice, Biryani Kits, Olive Oil, Cold-Pressed Mustard Oil and the Fortune Xpert range of functional oils. The Company continues to expand its premium, health-oriented and convenience-led categories through an expanded range of offerings.
Edible Oils
The Edible Oils segment recorded 5% YoY volume growth, with EBITDA of around INR 4,100 per MT, in line with management’s guidance of INR 4,000–4,500/MT.
The Company maintained its market share despite a challenging operating environment, supported by growth in domestic oils, particularly Mustard, Groundnut and Cottonseed Oils. AWL continues to focus on strengthening its branded portfolio, premium offerings and market execution.
Industry Essentials
Industry Essentials recorded 26% YoY volume growth, with EBITDA of approximately INR 4,300/MT, ahead of management estimates, supported by an improving product mix.
Oleochemicals & Specialty Chemicals recorded revenue growth exceeding 25% YoY and contributed approximately 45% of segment revenue. AWL is focused on scaling its value-added specialty chemicals portfolio, leveraging its backward integration, large-scale oleochemical operations and access to the Wilmar Group’s global R&D and formulation capabilities. The portfolio serves a diverse range of industries including Home & Personal Care, Pharmaceuticals, Food and Agrochemicals.
New Product Development
The Company continued to strengthen its premium, health-oriented and convenience-led portfolio with the launch of Fortune Yellow Mustard Oil.
Recently introduced products, including Olive Oil, Cold-Pressed Mustard Oil and Multigrain Atta continued to gain traction and scale during the quarter. GD Foods, a subsidiary of AWL, further expanded the TOPS portfolio with the launch of Chilli Oil and Multigrain Chocos.
Channels & Distribution
- General Trade (GT): AWL continued to strengthen its General Trade distribution network, with direct retail reach expanding to approximately 0.97 million outlets, while maintaining its focus on improving throughput and distribution efficiencies.
- Alternate Channels: E-commerce, Quick Commerce and Modern Trade grew 13% YoY during the quarter. Quick Commerce grew over 40% YoY, supported by wider assortment, improved product availability and stronger execution across platforms, particularly in packaged food categories.
- HoReCa: Revenue grew 22% YoY, with LTM channel revenues crossing INR 800 crore.
- Branded Exports: Revenue grew 72% YoY, supported by expanding international distribution and increasing availability of AWL’s branded food portfolio.
Subsidiary Performance
Omkar Chemicals: The specialty chemicals business recorded a volume growth of 16% YoY, while continuing to focus on expanding its value-added product portfolio.
GD Foods (TOPS): The Sauces & Condiments business recorded revenue growth exceeding 30% YoY, supported by similar underlying volume growth. Growth was on the back of strong performance across Sauces, Instant Noodles and Vermicelli.
