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AWL Agri Business Q3 FY26: Revenue Up 10%, EBITDA Reaches INR 637 Cr with Strong Food Growth
AWL Agri Business reported a 10% YoY revenue growth and a 3% volume increase for Q3 FY26, driven by an 8% growth in edible oils. The company maintained a consistent EBITDA of over INR 600 crores for the quarter, with a trailing twelve-month EBITDA reaching INR 2,200 crores. Significant momentum was seen in alternate channels, which grew 42%, and the Kohinoor brand, which surged 32%. The food segment is now EBITDA positive, though management expects another 2-3 years for it to reach a mature margin profile of 5-7%.
Key Highlights
Consolidated revenue grew 10% YoY with Q3 EBITDA standing at INR 637 crores.
Edible oil volumes increased by 8% YoY, supported by double-digit growth in the mustard oil category.
Alternate channel volumes grew 42% YoY, with quick commerce specifically rising by 65%.
Basmati rice market share improved to 11.9% on a MAT basis, while Kohinoor brand grew 32%.
G.D. Foods acquisition delivered 18% volume growth with healthy material margins of 54%.
💼 Action for Investors
Investors should monitor the scaling of the food segment and the integration of G.D. Foods, as these higher-margin businesses are key to long-term profitability. The stock remains a strong play on the premiumization of Indian kitchens and the rapid growth of quick commerce.
AWL Q3 FY26: Revenue Rises 10% to ₹18,603 Cr; PAT Drops 35% Due to High Base Effect
AWL Agri Business (formerly Adani Wilmar) reported a 10% YoY revenue growth to ₹18,603 crore in Q3 FY26, supported by a 3% increase in total volumes to 1.7 Million MT. Profitability saw a decline, with PAT falling 35% YoY to ₹269 crore and EBITDA dropping 19% to ₹637 crore, which management attributed to one-off gains in the previous year's base quarter. The edible oil segment remained the primary driver, growing 12% in value, while alternate channels like Quick Commerce showed robust momentum with 65% volume growth.
Key Highlights
Consolidated revenue grew 10% YoY to ₹18,603 crore, while total volumes reached 1.7 Million MT (+3% YoY).
PAT declined 35% YoY to ₹269 crore, primarily due to a high base effect from one-off gains in Q3 FY25.
Edible Oil segment volume grew 8% YoY, contributing ₹15,025 crore to the topline.
Alternate channels (E-com, Q-com, MT) delivered 42% YoY volume growth, with Quick Commerce specifically up 65%.
EBITDA per ton stood at ₹3,832, down 22% YoY but remaining within management's estimated target range.
💼 Action for Investors
Investors should look past the headline profit dip which was caused by a high base effect and focus on the steady 8% volume growth in the core edible oil business. The rapid scaling of the HoReCa and Quick Commerce channels provides a positive long-term outlook for market share gains.
AWL Agri Business Q3 FY26: Revenue Up 10% to ₹18,603 Cr; PAT Declines 35% YoY
AWL Agri Business reported its highest-ever quarterly revenue of ₹18,603 crore, marking a 10% YoY growth driven by an 8% volume increase in the Edible Oil segment. However, Consolidated PAT fell 35% YoY to ₹269 crore and EBITDA declined 20% to ₹685 crore, largely attributed to a high base effect from a one-off gain in the previous year. The company demonstrated strong momentum in alternate channels, with Quick Commerce volumes surging 65% YoY. Strategic infrastructure like the ₹1,500 crore Gohana food complex is now fully operational, which is expected to drive future cost efficiencies.
Key Highlights
Highest-ever quarterly revenue of ₹18,603 crore, up 10% YoY, with LTM revenue reaching ₹71,497 crore.
Consolidated PAT declined 35% YoY to ₹269 crore, while EBITDA fell 20% to ₹685 crore due to a high base effect.
Edible Oil segment recorded 8% volume growth, while Food & FMCG revenue grew 6% YoY despite flat volumes.
Quick Commerce channel volumes grew 65% YoY, with LTM revenues from alternate channels crossing ₹4,800 crore.
Direct distribution reach expanded significantly to 9.5 lakh outlets and over 60,000 rural towns.
💼 Action for Investors
Investors should monitor the margin recovery in upcoming quarters as the company laps the one-off gains from the previous year and ramps up the Gohana facility. The aggressive expansion in Quick Commerce and rural distribution provides a strong long-term growth runway despite the temporary bottom-line pressure.
AWL Agri Business Q3 PAT Drops 34.5% YoY to ₹269 Cr Despite 10.5% Revenue Growth
AWL Agri Business (formerly Adani Wilmar) reported a 10.5% YoY increase in revenue from operations to ₹18,602.67 crore for the quarter ended December 31, 2025. However, net profit (PAT) declined significantly by 34.5% YoY to ₹269.03 crore, primarily due to a sharp rise in raw material costs and an exceptional item of ₹25.83 crore. While sequential performance showed a 9.8% improvement in PAT compared to Q2 FY26, the nine-month (9M) profit remains down by 27% compared to the previous year. The company's name change from Adani Wilmar to AWL Agri Business is now fully reflected in the filings.
Key Highlights
Revenue from operations increased 10.5% YoY to ₹18,602.67 crore in Q3 FY26.
Net Profit (PAT) fell 34.5% YoY to ₹269.03 crore from ₹410.93 crore in Q3 FY25.
Cost of materials consumed rose significantly to ₹15,587.55 crore versus ₹14,076.58 crore in the year-ago period.
9M FY26 PAT stands at ₹751.83 crore, a sharp decline from ₹1,035.15 crore in 9M FY25.
The company recorded an exceptional loss of ₹25.83 crore during the quarter.
💼 Action for Investors
Investors should remain cautious as rising input costs are severely compressing margins despite healthy top-line growth. It is advisable to wait for signs of margin stabilization before increasing exposure.
AWL Agri Business Shareholders Approve Shrikant Kanhere as MD & CEO with 99.6% Majority
AWL Agri Business Limited (formerly Adani Wilmar) has announced the successful passage of 11 key resolutions via postal ballot with overwhelming shareholder support. Most significantly, Mr. Shrikant Kanhere has been appointed as the Managing Director and CEO, and Mr. Saumin Sheth as Whole Time Director and COO. The voting process, which saw a high participation rate of approximately 83.17% of total equity, also confirmed the re-appointment of several independent directors and the adoption of amended Articles of Association. This formalizes the leadership structure following the company's recent rebranding and name change.
Key Highlights
Shrikant Kanhere appointed as Managing Director and CEO with 99.64% votes in favor.
Saumin Sheth appointed as Whole Time Director and COO with 99.75% shareholder approval.
Total of 11 resolutions passed, including the re-appointment of four Independent Directors.
Voting participation represented 83.17% of the company's total paid-up equity capital.
The company has officially transitioned its name from Adani Wilmar Limited to AWL Agri Business Limited.
💼 Action for Investors
Investors should take note of the formalized leadership structure and the high level of shareholder confidence in the new management. Monitor the new CEO's strategic execution as the company pivots under its new 'AWL Agri Business' identity.
AWL Agri Business Shareholders Approve Shrikant Kanhere as MD & CEO with 99.64% Majority
AWL Agri Business Limited (formerly Adani Wilmar) has announced the successful passage of 11 resolutions via postal ballot with overwhelming shareholder support. Key leadership appointments include Mr. Shrikant Kanhere as Managing Director and CEO, and Mr. Saumin Sheth as Whole Time Director and COO. The resolutions also secured the re-appointment of four Independent Directors and the adoption of amended Articles of Association. Approximately 83.17% of the total paid-up equity capital participated in the voting process, indicating strong alignment between the board and shareholders.
Key Highlights
Mr. Shrikant Kanhere confirmed as MD and CEO with 99.64% of votes in favor.
Mr. Saumin Sheth appointed as Whole Time Director and COO with 99.75% approval.
Shareholders approved the re-appointment of four Independent Directors, including those over 75 years of age.
Voting participation was high, representing 1,08,09,50,538 shares or 83.17% of the total paid-up capital.
The company officially transitioned its identity from Adani Wilmar Limited to AWL Agri Business Limited.
💼 Action for Investors
Investors should view the high approval ratings for the new leadership team as a sign of institutional confidence. Monitor the new CEO's strategic execution under the rebranded entity to assess long-term growth prospects.
AWL Agri Business Shareholders Approve New MD & CEO and 10 Other Key Resolutions
AWL Agri Business Limited (formerly Adani Wilmar) has announced the successful passage of 11 resolutions via postal ballot with overwhelming shareholder support. Key highlights include the appointment of Mr. Shrikant Kanhere as Managing Director and CEO with 99.64% votes in favor. Additionally, Mr. Saumin Sheth was appointed as Executive Director and COO with 99.75% approval. The voting results demonstrate strong institutional and public confidence in the company's new leadership team and governance structure following its recent rebranding.
Key Highlights
Mr. Shrikant Kanhere appointed as Managing Director and CEO with 99.64% shareholder approval
Mr. Saumin Sheth appointed as Whole Time Director and COO with 99.75% votes in favor
Shareholders approved the re-appointment of four independent directors and two directors beyond the age of 75
Adoption of amended Articles of Association approved by the requisite majority
Total of 11 resolutions passed during the postal ballot period ending January 16, 2026
💼 Action for Investors
The high approval ratings for the new MD & CEO and COO indicate strong shareholder confidence; investors should monitor the new leadership's strategic execution under the rebranded entity.
AWL Agri Business Shareholders Approve Shrikant Kanhere as MD & CEO with 99.64% Majority
AWL Agri Business Limited (formerly Adani Wilmar) has announced the successful passage of 11 key resolutions via postal ballot with overwhelming shareholder support. Most notably, shareholders approved the appointment of Mr. Shrikant Kanhere as Managing Director and CEO, and Mr. Saumin Sheth as Whole Time Director and COO. The voting, which concluded on January 16, 2026, also confirmed the re-appointment of several Independent Directors and the adoption of amended Articles of Association. This formalizes the leadership structure following the company's recent rebranding and name change.
Key Highlights
Shrikant Kanhere's appointment as MD and CEO was approved with 99.64% of total votes polled in favor.
Saumin Sheth was confirmed as Whole Time Director and Chief Operating Officer with 99.75% approval.
Re-appointment of Independent Directors Dorab E. Mistry and Madhu Ramachandra Rao beyond the age of 75 was ratified.
A total of 9,66,627 shareholders were on record for the voting process which saw high institutional and promoter alignment.
The resolution for the adoption of amended Articles of Association was passed with the requisite majority.
💼 Action for Investors
Investors should take confidence in the high level of shareholder consensus for the new leadership team. Monitor the new CEO's strategic execution as the company transitions under its new identity as AWL Agri Business.
AWL Agri Business Q3 FY26: Edible Oil Up 3%, Quick Commerce Volumes Surge 65%
AWL Agri Business reported a low single-digit volume growth for Q3 FY26, with the Edible Oil segment growing 3% and Food & FMCG (ex-G2G) growing 3%. The overall performance was weighed down by a 7% volume decline in Industry Essentials due to weak castor and de-oiled cake sales. A standout performer was the alternate channel segment, which saw 42% volume growth, driven by a 65% increase in Quick Commerce. The company also expanded its distribution reach to 9.5 lakh outlets, marking an 18% year-on-year increase.
Key Highlights
Edible Oil segment recorded 3% volume and 6% value growth YoY with rangebound price trends.
Alternate channels (E-com, Q-com, MT) grew 42% in volumes, led by a 65% surge in Quick Commerce.
Food & FMCG products excluding rice and wheat saw strong growth exceeding 30% YoY.
Industry Essentials volumes de-grew by 7% YoY due to weak performance in castor and de-oiled cakes.
Distribution network expanded 18% YoY to reach 9.5 lakh outlets with a focus on rural efficiency.
💼 Action for Investors
Investors should monitor the upcoming full financial results to see if the 42% growth in high-velocity digital channels translates into better margins despite flat overall volumes. The recovery in branded rice and expansion in distribution are positive long-term signs, but the weakness in Industry Essentials warrants caution.
AWL Agri Business Appoints Shrikant Kanhere as MD & CEO; Seeks Shareholder Approval
AWL Agri Business Limited (formerly Adani Wilmar) has initiated a postal ballot to seek shareholder approval for several key leadership changes. Mr. Shrikant Kanhere is proposed as the Managing Director and CEO for a three-year term effective November 4, 2025, while Mr. Saumin Sheth is proposed as the Whole Time Director and COO. The ballot also includes the re-appointment of four independent directors and the adoption of amended Articles of Association. Shareholders can cast their votes electronically between December 18, 2025, and January 16, 2026.
Key Highlights
Proposed appointment of Mr. Shrikant Kanhere as MD and CEO for a 3-year term starting Nov 4, 2025.
Proposed appointment of Mr. Saumin Sheth as Whole Time Director and Chief Operating Officer (COO).
Re-appointment of four Independent Directors, including two continuing beyond the age of 75 years.
E-voting period is scheduled from December 18, 2025, to January 16, 2026, with results due by Jan 18, 2026.
Company confirms name change from Adani Wilmar Limited to AWL Agri Business Limited.
💼 Action for Investors
Investors should monitor the voting results to ensure a smooth leadership transition and evaluate the new CEO's strategic vision for the rebranded entity. The focus should remain on how these management changes impact the company's operational efficiency in the agri-business sector.