AWL Agri Business Q2 FY27 results: net profit down 2.2% to ₹239.39 crore, revenue up 26.1%

How did AWL Agri Business perform in Q2 FY27?

AWL Agri Business reported consolidated revenue of ₹22,202 crore in Q2 FY27, up ₹4,597 crore or 26.1% from Q2 FY26 and ₹2,154 crore or 10.7% from Q1 FY27. EBITDA was ₹622.66 crore, down ₹65.52 crore or 9.5% year on year and ₹70.63 crore or 10.2% sequentially. The EBITDA margin fell to 2.8% from 3.9% in Q2 FY26 and 3.5% in Q1 FY27.

Net profit was ₹239.39 crore, compared with ₹244.85 crore a year earlier and ₹351.39 crore in the previous quarter. Profit before tax rose to ₹332.23 crore from ₹312.92 crore in Q2 FY26, while tax was ₹104.26 crore, up from ₹85.37 crore. Basic EPS was ₹1.85, against ₹1.89 in Q2 FY26 and ₹2.71 in Q1 FY27. On a standalone basis, revenue was ₹21,410.04 crore and net profit was ₹251.63 crore.

What changed in AWL Agri Business' costs and profit?

Total expenses rose to ₹21,939 crore in Q2 FY26, up ₹4,726 crore or 27.5% from Q2 FY26. Cost of materials increased ₹3,934 crore or 25.8% to ₹19,174 crore, employee cost rose ₹33.38 crore or 22.6% to ₹181.12 crore, and finance costs rose ₹52.10 crore or 27.5% to ₹241.37 crore. Depreciation increased to ₹118.38 crore and other expenses to ₹1,308 crore from ₹1,214 crore.

Other income moved from a negative ₹78.96 crore in Q2 FY26 to ₹69.32 crore, a difference of ₹148.28 crore, while no exceptional item was reported. Management said the marginal year-on-year decline in PAT was primarily due to minimum corporate tax computed on revenue of the Bangladesh subsidiary under local regulations, which increased consolidated tax expense. Finance costs and other operating costs also rose against the year-ago quarter.

How did the first half of FY27 go?

For H1 FY27, consolidated revenue was ₹42,250.07 crore, up ₹7,586.85 crore or 21.9% from H1 FY26, while total income rose 21.7% to ₹42,356.93 crore. Profit before tax increased 26.9% to ₹791.12 crore, net profit rose 22.4% to ₹590.78 crore and basic EPS increased to ₹4.57 from ₹3.73.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹30,477.78 crore, compared with ₹24,758.62 crore at 31 March 2026. Total equity was ₹10,894.55 crore against ₹10,443.68 crore, borrowings were ₹2,587.43 crore against ₹818.17 crore, and cash was ₹246.27 crore against ₹1,677.01 crore. Inventories rose to ₹14,837.61 crore from ₹8,190.72 crore, while trade receivables were ₹3,003.69 crore against ₹2,624.32 crore.

H1 FY27 operating cash flow was negative ₹2,589.74 crore, compared with positive ₹1,283.03 crore in H1 FY26. Investing cash flow was negative ₹9.19 crore against negative ₹222.24 crore, financing cash flow was positive ₹1,283.20 crore against negative ₹1,165.22 crore, and capital expenditure was ₹452.20 crore against ₹450.46 crore. Management said inventory accumulation amid sunflower supply disruption required INR6,000 crore of working-capital funding and was expected to normalise in Q3 FY27.

How has AWL Agri Business done over the last 8 quarters?

Revenue rose in each of the last eight quarters on a year-on-year basis. It increased from ₹17,604.57 crore in Q2 FY26 to ₹22,201.93 crore in Q2 FY27, the highest quarterly revenue in the reported series. The lowest was ₹16,859.31 crore in Q3 FY25, and the latest quarter was below the ₹21,464.78 crore recorded in Q4 FY26.

Net profit in the latest quarter was ₹239.39 crore, above ₹190.66 crore in Q4 FY25 but below ₹351.39 crore in Q1 FY27. The EBITDA margin reached 4.7% in Q3 FY25, fell to 2.1% in Q1 FY26 and was 2.8% in Q2 FY27. Revenue direction has continued upward year on year, while profit and margin softened from the preceding quarter.

Which businesses drove the quarter?

Edible Oil revenue was ₹17,067.38 crore, up 23.4% from ₹13,827.65 crore in Q2 FY26, with EBIT of ₹183.85 crore against ₹171.16 crore. The segment reported an EBIT margin of 1.1%. Management said edible-oil volumes grew 5% year on year and cited demand for mustard, groundnut and cottonseed oils.

Food & FMCG revenue rose 31.8% to ₹2,216.21 crore from ₹1,681.11 crore, while EBIT was ₹38.03 crore against ₹56.46 crore. Its EBIT margin was 1.7%. Industry Essentials revenue increased 39.2% to ₹2,918.34 crore from ₹2,095.81 crore, with EBIT of ₹164.03 crore against ₹130.83 crore and an EBIT margin of 5.6%. Management said oleochemicals and specialty chemicals reached around 45% of Industry Essentials revenue.

What else did the company announce?

The board approved and took on record the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026 at its meeting on 27 October 2026. The company filed the results with the statutory auditors’ limited review report and also published an investor presentation for the consolidated and standalone results. No dividend, fund raise or appointment was stated in the same-day filings provided.

What did AWL Agri Business' management say?

Management maintained FY27 Food & FMCG EBITDA-margin guidance of 3% to 4%, with profitability expected to improve as scale, product mix and distribution efficiencies strengthen. It also maintained guidance for mid-single-digit edible-oil volume growth, a gradual market-share uptick and edible-oils EBITDA of INR4,000 to INR4,500 per metric ton. For Industry Essentials, management indicated roughly 10–11% growth in coming quarters and high-single-digit to low-double-digit growth for H2 FY27.

Management said the company’s focus areas included scaling Food & FMCG, expanding branded packaged-food penetration, growing value-added chemicals within Industry Essentials and shifting distribution toward quick commerce and alternate channels. The company expected the inventory build to normalise in Q3 FY27. Management identified rainfall deficits, rural demand softness, commodity and import-duty volatility, rabi sowing and wheat-price uncertainty, and El Niño-related palm production risk as downside risks.

The earnings-call document did not record specific analyst questions in the supplied excerpt. Management said the integrated manufacturing platform, brand portfolio and distribution network positioned the company to participate in India’s packaged-food market. It also said full-year consolidated volume growth could reach 8–9%, with revenue close to INR85,000 crore, EBITDA close to INR2,600 crore and EBITDA margin close to 3% if the current run-rate persisted.

How did AWL Agri Business shares react?

After the filing appeared, AWL Agri Business shares fell 3.1% within 5 minutes, 4.9% within 15 minutes and 4.7% within 30 minutes. From the pre-results close of ₹175.91, the stock closed the reaction day down 5.8%. By the next day’s close, it was down 6.8% from that pre-results close, and by the fifth session it was down 6.7%.

The Edible Oil sector’s median reaction-day move was down 0.1%, while AWL Agri Business fell 5.8%, an excess sector move of negative 5.7 percentage points. By the next day, the sector median was up 1.6% and the stock was down 6.8%, an excess sector move of negative 8.4 percentage points; by five sessions, the figures were up 2.2% and down 6.7%, respectively. Earlier reaction-day moves were 0.5% on 30 July 2026, negative 2.9% on 28 April 2026, 1.9% on 3 February 2026 and 0.3% on 3 November 2025.

How did other Edible Oil companies do?

Eight other Edible Oil companies that had filed for the quarter were compared. Their median revenue growth was 18.2%, compared with AWL Agri Business’s 26.1% growth in Q2 FY27. Five peers grew revenue more slowly than AWL Agri Business and three grew faster; peers do not include AWL Agri Business itself.

Among the peers with profit information, six reported higher profit. The comparison covers seven peers for profit, with AWL Agri Business’s consolidated net profit down 2.2% from Q2 FY26.