AWL
AWL Agri Business share price & financials
- Price
- ₹184.31
- Market cap
- ₹24.8k Cr
- Sector
- Fast Moving Consumer Goods
- Calls analysed
- 7
AWL Agri Business Limited Q1 FY27
What went well
- Strong start to FY27 with 18% YoY revenue growth to INR 20,048 crore.
- Operating EBITDA expanded significantly by 34% YoY to INR 693 crore, reflecting improved profitability.
- Food and FMCG business demonstrated robust growth of 22% YoY, driven by broad-based performance across categories.
What to watch
- Edible Oil business delivered low single-digit volume growth of 2% YoY due to temporary channel de-stocking and sharp volatility in global prices.
- The market for Edible Oil experienced sluggishness, hand-to-mouth trade, and dried-up primary pipeline in Q1 FY27.
What AWL Agri Business Limited does
AWL Agri Business Limited (formerly Adani Wilmar) is an integrated Indian agribusiness that sources, processes, refines, packages and distributes edible oils and packaged food staples, plus industrial derivatives, across an end-to-end value chain spanning import/farmer sourcing, multi-product manufacturing, transportation, warehousing and last-mile distribution. It earns primarily by refining and branding edible oils (soyabean, mustard, sunflower, palm) under Fortune, and by selling packaged food essentials (wheat flour, rice, pulses, besan) under Fortune, Kohinoor and Tops, alongside oleochemicals and castor derivatives sold to industrial and institutional customers. Distribution runs through general trade, HoReCa, quick-commerce/e-commerce and branded exports, backed by the Wilmar Group's global sourcing network.
Segments
- Edible Oil
- Food & FMCG
- Industry Essentials
- Manufacturing units
- 70+ (24 owned, 50+ leased)
- Retail outlet reach
- 2.6 million+ outlets across India
- Distributors
- 10,000+
- Depots
- 110+
- SKUs
- 2,000+ across Edible Oil and Food & FMCG
- Storage space
- 4.2 million sq. ft.
Guidance record · Q1 FY27
what the last two calls moved 19 tracked 1 delivered 1 missed 17 open- Food & FMCG Revenue delayed said Q3 FY25 Promised: INR 10,000 crores by end of FY '27 Q1 FY27: No specific update on this target. Management introduced a new long-term consolidated revenue target for 2030.
- Food & FMCG EBITDA revised up said Q3 FY25 Promised: Remain EBITDA neutral until FY '28 Q1 FY27: Guidance formally revised up. Management now targets a 3-4% EBITDA margin for the segment, moving away from the 'neutral' stance.
- Overall EBITDA per Tonne on track said Q2 FY26 Promised: Maintain INR 3,500 per tonne Q1 FY27: Management guided for Edible Oil EBITDA/ton of INR 4,000-4,500, supporting the overall target.
All 19 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 17.5%, net profit up 47.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14,460 | 16,839 | 18,230 | 17,059 | 17,605 +22% | 18,603 +10% | 21,465 +18% | 20,048 +18% |
| EBITDA | 615 | 792 | 448 | 366 | 688 +12% | 553 −30% | 524 +17% | 693 +89% |
| Net profit | 311 | 411 | 191 | 238 | 245 −21% | 269 −35% | 293 +53% | 351 +47% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −27.8% 1Y
1Y: ₹256.25 on 10 Sept 2025 → ₹185.02. High ₹277.6 (24 Nov 2025), low ₹172.3 (16 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −1.2%
- 30 Jul
- Q4 FY26
- −2.3%
- 29 Apr
- Q3 FY26
- +1.2%
- 3 Feb
- Q2 FY26
- +0.8%
- 4 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 8.7% a year over 3 years, FY23 to FY26. Operating margin widened to 2.9%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹58.2k Cr | ₹51.2k Cr | ₹63.7k Cr | ₹74.7k Cr |
| Operating profit | ₹1.4k Cr | ₹1.1k Cr | ₹2.5k Cr | ₹2.1k Cr |
| Operating margin | 2.4% | 2.2% | 3.9% | 2.9% |
| Interest | ₹775 Cr | ₹749 Cr | ₹725 Cr | ₹707 Cr |
| Depreciation | ₹359 Cr | ₹364 Cr | ₹394 Cr | ₹449 Cr |
| Net profit | ₹583 Cr | ₹148 Cr | ₹1.2k Cr | ₹1.0k Cr |
| Net margin | 1.0% | 0.3% | 1.9% | 1.4% |
| ROCE | 15.0% | 10.0% | 21.0% | 18.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹114 Cr | ₹130 Cr | ₹130 Cr | ₹130 Cr | ₹130 Cr | ₹129 Cr |
| Reserves | ₹3.2k Cr | ₹7.5k Cr | ₹8.0k Cr | ₹8.2k Cr | ₹9.8k Cr | ₹10.3k Cr |
| Borrowings | ₹3.1k Cr | ₹2.7k Cr | ₹2.4k Cr | ₹2.6k Cr | ₹1.1k Cr | ₹1.1k Cr |
| Other liabilities | ₹7.0k Cr | ₹11.0k Cr | ₹10.4k Cr | ₹8.8k Cr | ₹14.0k Cr | ₹13.2k Cr |
| Total liabilities | ₹13.3k Cr | ₹21.3k Cr | ₹21.0k Cr | ₹19.8k Cr | ₹25.0k Cr | ₹24.7k Cr |
| Fixed assets | ₹3.7k Cr | ₹4.6k Cr | ₹4.8k Cr | ₹4.9k Cr | ₹6.6k Cr | ₹7.1k Cr |
| Capital work in progress | ₹531 Cr | ₹275 Cr | ₹324 Cr | ₹879 Cr | ₹746 Cr | ₹443 Cr |
| Investments | ₹332 Cr | ₹362 Cr | ₹392 Cr | ₹312 Cr | ₹547 Cr | ₹1.1k Cr |
| Other assets | ₹8.8k Cr | ₹16.1k Cr | ₹15.5k Cr | ₹13.7k Cr | ₹17.1k Cr | ₹16.1k Cr |
| Total assets | ₹13.3k Cr | ₹21.3k Cr | ₹21.0k Cr | ₹19.8k Cr | ₹25.0k Cr | ₹24.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −17.42 pp while FIIs added +16.49 pp. The shareholder count shrank 10% to 9,31,230.
- Promoters
- 56.9%
- FIIs
- 21.1%
- DIIs
- 8.5%
- Public
- 12.9%
- Others
- 0.6%
Since Jun 2025
- Promoters −17.42 pp
- FIIs +16.49 pp
- Public +0.83 pp
How it drifted, 12 quarters
Over this window promoters fell from 87.9% to 56.9% — −31.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 87.9%, FIIs 0.6%, DIIs 0.1%, Public 11.4%.Dec '23: Promoters 87.9%, FIIs 0.7%, DIIs 0.1%, Public 11.3%.Mar '24: Promoters 87.9%, FIIs 0.8%, DIIs 0.3%, Public 11.1%.Jun '24: Promoters 87.9%, FIIs 0.7%, DIIs 0.3%, Public 11.2%.Sep '24: Promoters 87.9%, FIIs 0.9%, DIIs 0.1%, Public 11.1%.Dec '24: Promoters 87.9%, FIIs 1.2%, DIIs 0.1%, Public 10.9%.Mar '25: Promoters 74.4%, FIIs 4.3%, DIIs 8.9%, Public 12.1%, Others 0.3%.Jun '25: Promoters 74.4%, FIIs 4.6%, DIIs 8.6%, Public 12.1%, Others 0.3%.Sep '25: Promoters 63.9%, FIIs 14.1%, DIIs 8.8%, Public 12.8%, Others 0.3%.Dec '25: Promoters 56.9%, FIIs 21.1%, DIIs 9.3%, Public 12.3%, Others 0.3%.Mar '26: Promoters 56.9%, FIIs 21.9%, DIIs 8.4%, Public 12.4%, Others 0.5%.Jun '26: Promoters 56.9%, FIIs 21.1%, DIIs 8.5%, Public 12.9%, Others 0.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Eriska Investment Fund Ltd FPI fund newly disclosed 1.40% held
- Bandhan Small Cap Fund Mutual fund newly disclosed 1.22% held
The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of AWL Agri Business Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Lence Pte. Ltd. | 56.94% | unchanged |
| Shajaeatan Investment FZCO Corporate | 9.93% | unchanged |
| ICICI Prudential Multicap Fund Mutual fund | 3.31% | −0.53 pp |
| Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund | 1.89% | unchanged |
| Quant Mutual Fund - Quant Multi Cap Fund Mutual fund | 1.40% | unchanged |
| Eriska Investment Fund Ltd FPI fund | 1.40% | newly disclosed |
| Australiansuper Sovereign | 1.27% | −0.32 pp |
| Bandhan Small Cap Fund Mutual fund | 1.22% | newly disclosed |
| Wilmar International Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in AWL
Filings to Aug 2026
0 new, 5 added, 1 trimmed, 0 sold out — net +0.45 L shares (+0.1%).
- Held by funds
- ₹614 Cr
- 9 schemes
- Biggest holder
- Nippon India Small Cap Fund
- ₹505 Cr · 0.6% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹505 Cr | held | Jan '25 |
| Nippon India Balanced Advantage Fund Nippon India Mutual Fund | ₹63 Cr | held | Jul '26 |
| Nippon India Consumption Fund Nippon India Mutual Fund | ₹24 Cr | held | Feb '26 |
| Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund | ₹10 Cr | +0.31 L | Mar '24 |
| Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund | ₹7 Cr | +0.07 L | Mar '24 |
| SBI Nifty Midcap 150 Index Fund SBI Mutual Fund | ₹3 Cr | +0.07 L | Mar '24 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Sep '24 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | −0.00 L | Sep '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
5 added, 1 trimmed — net +45,010 shares (+0.1%)
- Funds are sitting on
- -13%
- vs est. average cost
- Held by funds
- ₹614 Cr
- 9 schemes · ≈ 2.4% of the company
- Biggest holder
- Nippon India Small Cap Fund
- ₹505 Cr · 0.6% of that fund
- Longest holder
- Nippon India ETF Nifty Midcap 150
- 2y 6m · since Mar '24
Shares held by these funds +9059%
Aug '23 3.18 cr shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse AWL Agri Business Limited
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