AWL Agri Business reported a 22% YoY revenue increase in Q2 FY26, reaching ₹17,605 crore, driven primarily by the Edible Oils segment. Normalized operating EBITDA for LTM Sep ’25 grew by 11%. The company saw strong sequential volume growth in Food & FMCG, and expanded its direct retail reach. While consumer demand remained softer than anticipated, strong sequential gains and optimism for continued momentum were noted.
Financial Performance Highlights
AWL Agri Business reported a strong financial performance for Q2 FY26, with key highlights including:
- Highest-ever LTM revenue of ₹69,732 crore in Sep ’25, up 28% year-on-year.
- Highest-ever quarterly revenue of ₹17,605 crore in Q2 FY26, up 22% year-on-year.
- Normalized Operating EBITDA at ₹2,328 crore in LTM Sep ’25, up 11% vs LTM Sep ’24.
Segment Performance
A detailed breakdown of segment performance, excluding G2G business, reveals:
- Edible Oil: Revenue of ₹13,828 crore in Q2’26, a 26% YoY increase.
- Food & FMCG: Revenue of ₹1,681 crore in Q2’26, a 4% YoY increase.
- Industry Essentials: Revenue of ₹2,096 crore in Q2’26, a 19% YoY increase.
Operational Developments
Key operational developments and strategic initiatives during the quarter included:
- Q-com volume up ~86% YoY in Q2 ’26.
- Alternate channel revenue exceeds ₹4,400 crore in LTM Sep ’25.
- Strong sequential momentum with overall volumes up 7% and Food & FMCG up 21% (Q2 vs Q1).
- Direct retail reach expanded to 9 lakh outlets.
- Rural distribution network now spans 58,000 towns.
Edible Oils Market Dynamics
The company noted significant trends in the Edible Oils segment:
- Q2 edible oil revenue was INR 13,828 crores, up 26% YoY, with an underlying volume growth of 2% YoY.
- Branded products volume also achieved low single-digit growth.
Food & FMCG Segment Growth
The Food & FMCG segment showed positive momentum:
- Segment posted strong sequential momentum with 21% QoQ volume growth and revenue of INR 1,681 crore.
- Branded business revenue grew by 7% YoY, supported by underlying volume growth of 5%.
Management Commentary
Mr. Angshu Mallick, MD & CEO, commented on the results:
“Consumer demand remained below expectations through the fiscal year, leading to lower-than-planned volume growth. Nevertheless, the Company demonstrated agility in navigating external challenges, delivering a 7% sequential increase in sales volumes in Q2 over Q1.”
Source: BSE