AWL Agri Business’ shares have risen more than 3% over the past four trading sessions, with the September quarter (Q2FY27) preliminary update announced on Monday after market hours, bringing some comfort.
AWL delivered 12% year-on-year volume growth and 24% revenue growth in Q2, led by strong momentum in its food and FMCG portfolio and industry essentials. The edible oil business delivered steady volume growth, the company said. For perspective, volume and revenue growth stood at 7% and 18%, respectively, in the year-ago quarter. AWL’s numbers also exceeded Nuvama Institutional Equities’ Q2 estimates of 6% volume growth and 14% revenue growth.
AWL’s food and FMCG business recorded 33% revenue growth, crossing ₹2,000 crore for the first time. Growth was broad-based, with wheat and rice performing strongly. Additional categories such as besan, pulses, soya nuggets, sugar, sattu and poha now account for over 35% of the food portfolio and together grew around 50% year-on-year in Q2.
Fortune pulses revenue crossed ₹100 crore last quarter, with AWL looking to expand distribution across general trade and quick commerce. The Madhur Sugar deal could provide another leg to the food strategy. The company is using its distribution network to scale the licensed brand, with management targeting higher volumes through the year.
In FY26, edible oil contributed 80% of AWL’s overall revenue, while food and FMCG, and industry essentials contributed 9% and 11%, respectively.