AWL Agri Business Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹21,371 Cr
- P/E
- 18.20
- ROE
- 10.67%
- PEG
- 0.83
- Price to sales
- 0.28
- Debt to equity
- 0.11
- 52W high / low
- ₹278 / ₹164
- Sales growth (5Y)
- 15.04%
- EBITDA margin
- 3.16%
- Net profit margin
- 1.42%
- Promoter holding
- 56.94%
- Sales (last year)
- ₹77,720 Cr
Incorporated in 1999, Adani Wilmar Ltd deals in edible oil and food and other FMCG products. Adani has exited the joint venture in FY24 to focus on other segments. AWL Agri Business is the new name decided in online voting.[1]
Guidance scorecard · Q2 FY27 call
What AWL Agri Business Ltd's management guided
and where it ranks in Agricultural Food & other Products
Agricultural Food & other Products
RevenueQ1 FY27 call
10–20%- Food and FMCG segment targets mid-teen revenue growth, around 18%-20% annually.
- Edible Oil volume growth is expected in the range of 5%-6% over the medium term.
- Industry Essentials segment aims for volume growth of around 8%-9%.
- Overall volume growth across the portfolio is around 7%-9%, combining segments.
- Food business is in a growth/investment phase with double-digit volume and revenue growth.
- Growth driven by expanding distribution, category diversification, and cross-selling between food and oil products.
2 more points from AWL Agri Business Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what AWL Agri Business Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- AWL Agri Business plans to invest steadily in capex, estimating around INR 700 crore annually as a modeling assumption.
- Current Edible Oil refining capacities are running at about 60%-61% utilization; new capacity additions expected in the next couple of years to meet demand.
- Significant capex planned in the Food segment to convert 50% contractual/tolling operations into owned operations.
- The company aims to leverage Wilmar's R&D and technical expertise for operational efficiencies and value extraction.
- Strategic focus remains on expanding Food portfolio, improving execution, and enhancing profitability.
2 more points from AWL Agri Business Ltd's call on capex
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FundraisingQ1 FY27 call
See what AWL Agri Business Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- Financial performance including revenue, EBITDA, and profit growth.
- Business segments performance: Food & FMCG, Edible Oil, and Industry Essentials.
- Growth strategies and market outlook.
- Stock days and inventory management.
- Hedging strategies.
- Raw material sourcing and import dependence.
- Distribution reach and expansion.
2 more points from AWL Agri Business Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Agricultural Food & other Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Agricultural Food & other Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹911 Cr | 14.0 | |
| 2 | 40%+ | Up 0–2% | ₹129 Cr | 7.0 | |
| 3 | 40%+ | Flat | ₹23 Cr | 9.5 | |
| 4 | 20–40% | Up 2%+ | ₹219 Cr | 15.0 | |
| 5 | 20–40% | Up 2%+ | ₹190 Cr | 17.9 | |
| 6 | 20–40% | Up 0–2% | ₹2,595 Cr | 33.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Agricultural Food & other Products rankingFinancials of AWL Agri Business Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
AWL Agri Business Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 87.88% | 87.88% | 87.88% | 87.88% | 87.88% | 74.36% | 74.36% | 63.94% | 56.94% | 56.94% | 56.94% | 56.94% |
| FIIs + | 0.65% | 0.77% | 0.73% | 0.95% | 1.16% | 4.31% | 4.61% | 14.11% | 21.15% | 21.86% | 21.10% | 19.50% |
| DIIs + | 0.12% | 0.29% | 0.25% | 0.07% | 0.05% | 8.90% | 8.62% | 8.82% | 9.28% | 8.37% | 8.46% | 10.24% |
| Public + | 11.35% | 11.08% | 11.15% | 11.11% | 10.91% | 12.08% | 12.08% | 12.78% | 12.30% | 12.38% | 12.91% | 12.72% |
| Others + | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.34% | 0.34% | 0.34% | 0.34% | 0.45% | 0.60% | 0.60% |
| No. of Shareholders | 12,00,267 | 11,73,450 | 11,61,453 | 10,75,647 | 10,59,390 | 10,57,695 | 10,34,675 | 10,13,527 | 9,66,721 | 9,41,828 | 9,31,230 | 9,09,828 |
Pros & Cons
AWL Agri Business Ltd
Key positives and risks surfaced from the company insights section.
- Company has a low return on equity of 9.05% over last 3 years.
- Company's cost of borrowing seems high
- Promoter holding has decreased over last 3 years: -31.0%
- Company has a low return on equity of 9.05% over last 3 years.
- Company's cost of borrowing seems high
- Promoter holding has decreased over last 3 years: -31.0%
Financials of AWL Agri Business Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 12,267 | 12,828 | 13,223 | 14,154 | 14,460 | 16,839 | 18,230 | 17,059 | 17,605 | 18,603 | 21,465 | 20,048 | 22,202 |
| Expenses + | 12,123 | 12,324 | 12,866 | 13,528 | 13,845 | 16,047 | 17,781 | 16,693 | 16,916 | 18,050 | 20,941 | 19,324 | 21,579 |
| Operating Profit | 144 | 505 | 357 | 626 | 615 | 792 | 448 | 366 | 688 | 553 | 524 | 725 | 623 |
| OPM % | 1.2% | 3.9% | 2.7% | 4.4% | 4.3% | 4.7% | 2.5% | 2.1% | 3.9% | 3.0% | 2.4% | 3.6% | 2.8% |
| Other Income + | 11 | 59 | 104 | 54 | 56 | 67 | 62 | 212 | -62 | 106 | 182 | 57 | 81 |
| Interest | 220 | 187 | 171 | 166 | 177 | 204 | 178 | 159 | 189 | 185 | 174 | 186 | 241 |
| Depreciation | 96 | 95 | 79 | 96 | 92 | 108 | 98 | 103 | 107 | 111 | 128 | 117 | 118 |
| Profit before tax | -162 | 281 | 211 | 418 | 402 | 546 | 234 | 317 | 330 | 363 | 404 | 478 | 344 |
| Tax % | -19% | 27% | 27% | 25% | 30% | 28% | 25% | 25% | 26% | 28% | 27% | 27% | 30% |
| Net Profit + | -131 | 201 | 157 | 313 | 311 | 411 | 191 | 238 | 245 | 269 | 293 | 351 | 239 |
| EPS in Rs | -1.01 | 1.55 | 1.21 | 2.41 | 2.39 | 3.16 | 1.46 | 1.82 | 1.88 | 2.07 | 2.25 | 2.70 | 1.84 |
Financials of AWL Agri Business Ltd
Profit & Loss
Annual income statement trend
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales + | 28,797 | 29,657 | 37,090 | 54,155 | 58,185 | 51,225 | 63,672 | 74,731 | 82,318 |
| Expenses + | 27,666 | 28,348 | 35,765 | 52,418 | 57,223 | 50,090 | 61,186 | 72,600 | 79,894 |
| Operating Profit | 1,131 | 1,310 | 1,326 | 1,736 | 962 | 1,135 | 2,486 | 2,131 | 2,424 |
| OPM % | 3.9% | 4.4% | 3.6% | 3.2% | 1.6% | 2.2% | 3.9% | 2.9% | 2.9% |
| Other Income + | 122 | 110 | 104 | 172 | 961 | 240 | 233 | 392 | 426 |
| Interest | 487 | 569 | 407 | 541 | 775 | 749 | 724 | 707 | 787 |
| Depreciation | 199 | 241 | 268 | 309 | 358 | 364 | 395 | 449 | 474 |
| Profit before tax | 567 | 609 | 755 | 1,059 | 789 | 262 | 1,601 | 1,367 | 1,589 |
| Tax % | 37% | 34% | 14% | 27% | 30% | 35% | 27% | 28% | |
| Net Profit + | 376 | 461 | 729 | 804 | 582 | 148 | 1,226 | 1,045 | 1,153 |
| EPS in Rs | 3.29 | 4.03 | 6.37 | 6.18 | 4.48 | 1.14 | 9.43 | 8.04 | 8.86 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 12% |
Financials of AWL Agri Business Ltd
Balance Sheet
Capital structure and asset base
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 114 | 114 | 114 | 130 | 130 | 130 | 130 | 129 | 129 |
| Reserves | 1,997 | 2,456 | 3,185 | 7,476 | 8,036 | 8,186 | 9,294 | 10,311 | 10,761 |
| Borrowings + | 1,829 | 2,300 | 3,051 | 2,701 | 2,396 | 2,628 | 1,937 | 1,109 | 2,889 |
| Other Liabilities + | 7,662 | 6,915 | 6,978 | 11,010 | 10,417 | 8,833 | 11,051 | 13,186 | 16,699 |
| Total Liabilities | 11,603 | 11,786 | 13,328 | 21,317 | 20,979 | 19,777 | 22,412 | 24,736 | 30,478 |
| Fixed Assets + | 3,027 | 3,758 | 3,702 | 4,601 | 4,793 | 4,921 | 5,481 | 7,143 | 7,242 |
| CWIP | 570 | 325 | 531 | 275 | 324 | 879 | 1,060 | 443 | 673 |
| Investments | 147 | 206 | 332 | 362 | 392 | 312 | 624 | 1,082 | 458 |
| Other Assets + | 7,858 | 7,497 | 8,763 | 16,079 | 15,469 | 13,665 | 15,248 | 16,069 | 22,105 |
| Total Assets | 11,603 | 11,786 | 13,328 | 21,317 | 20,979 | 19,777 | 22,412 | 24,736 | 30,478 |
Financials of AWL Agri Business Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 1,693 | 781 | 726 | 1,198 | 663 | 289 | 2,150 | 3,928 |
| Cash from Investing Activity + | -934 | -506 | -484 | -3,786 | 524 | 138 | -278 | -1,096 |
| Cash from Financing Activity + | -762 | -8 | -531 | 2,658 | -919 | -847 | -1,544 | -1,678 |
| Net Cash Flow | -3 | 267 | -289 | 70 | 268 | -419 | 328 | 1,154 |
| Free Cash Flow | 785 | 151 | 265 | 663 | -11 | -641 | 1,190 | 3,104 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 162% | 69% | 77% | 83% | 86% | 40% | 98% | 201% |
Financials of AWL Agri Business Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 16 | 11 | 15 | 15 | 12 | 13 | 14 | 13 |
| Inventory Days | 61 | 57 | 55 | 58 | 53 | 58 | 56 | 45 |
| Days Payable | 101 | 85 | 60 | 69 | 59 | 56 | 56 | 56 |
| Cash Conversion Cycle | -24 | -17 | 10 | 4 | 6 | 15 | 14 | 1 |
| Working Capital Days | -19 | -18 | -8 | -12 | -6 | -4 | 9 | 4 |
| ROCE % | 27% | 21% | 19% | 15% | 10% | 21% | 18% |
Guidance history
How AWL Agri Business Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | — |
| Q4 FY26 call → | 10–20% | Flat | None planned | — | — |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 10–20% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
11 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −40.4% | 12% |
| Last 6 months | −16.4% | 27% |
| Last 3 months | −13.3% | 36% |
The price is 79.7% below its all-time high of ₹809.95 (23 Sept 2022). Stocks more than 20% below their peak have their score halved, so 23 became 11.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For AWL Agri Business Ltd: 0.4 × 12 + 0.4 × 27 + 0.2 × 36 = 23, halved to 11 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What AWL Agri Business Ltd's management said in earlier quarters
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