AWL Agri Business Ltd. Reports Preliminary Quarterly Update for Q4 FY26

AWL Agri Business Ltd. Reports Preliminary Quarterly Update for Q4 FY26​

AWL Agri Business Ltd., formerly known as Adani Wilmar Ltd., has released a preliminary quarterly update covering the fourth quarter (Q4) of the fiscal year 2025-26, for the period ending March 31, 2026. The company noted that a detailed disclosure of financial results will follow once the Board of Directors approves the consolidated and standalone financial results for the quarter and the year.

During the quarter ended March 31, 2026, the company reported double-digit volume growth, which was primarily driven by strong performance in the Edible Oil and Industry Essentials segments. This growth was supported by stable consumer demand and gradual improvements in distribution networks.

Business Segment Performance​

The Food & FMCG business recorded a 13% Year-over-Year (YoY) growth in the domestic segment. Growth within the core Food business was attributed to improved sales in both the Rice and Wheat segments, which together form 65% of the food business portfolio. Volume growth for both Fortune and Kohinoor brands surpassed 30% YoY, benefiting from increased go-to-market (GTM) and distribution efforts in the rice business. The Wheat Flour business achieved high single-digit volume growth, driven by better penetration in general trade and increased scaling across alternative channels.

Excluding the Rice and Wheat business, the Food & FMCG segment, which contributes 35% to segment volumes, experienced 30% YoY growth.

The Edible Oil portfolio showed robust performance, delivering a 17% YoY volume growth in Q4'26. This growth was noted across soyabean, mustard, rice bran, and palm oil, despite continued imports of cheaper refined oils from neighboring SAARC countries at a lower level compared to previous quarters. Sales in under-indexed markets also improved, supported by increased marketing spends.

The Industry Essentials segment showed a broad-based recovery in Q4'26, supported by improved sales in oleochemicals, castor, and DOC businesses. The oleochemicals business, which accounts for approximately 30% of the segment's business, remains a key growth driver.

Channel Growth and Distribution​

Alternate channels, encompassing E-commerce, Quick Commerce, and Modern Trade, delivered strong double-digit growth of 43% YoY in Q4'26. Within this channel, Quick Commerce expanded by 46% YoY, now accounting for 32% of volumes, bolstered by technology-enabled execution and focused marketing efforts. Annual revenues from these alternate channels surpassed INR 5,200 Crores in FY26.

Branded Exports and HoReCa channels also reported robust growth, exceeding 40% YoY during the quarter, with expectations of sustained high growth from these segments in the medium term.

In terms of reach, the numeric distribution in general trade (GT) crossed 965,000 outlets in Q4'26, marking an addition of nearly 120,000 new outlets throughout the year, predominantly in rural markets. The company also reported establishing a presence in over 60,000 villages by ramping up sales through micro-fulfilment centers to ensure faster servicing in smaller towns.

Subsidiary Performance​

Key subsidiaries also showed strong performance. GD Foods (Sauces & Condiments) maintained its growth momentum, achieving volume and value growth close to 20% YoY in Q4'26, focusing on scaling distribution leveraging the AWL infrastructure. Omkar Chemicals, acquired in 2024, contributed robust double-digit volume growth in Q4 FY26. For the full year (FY26), the sales volumes for Omkar Chemicals grew by 2x, with annual revenues exceeding INR 300 Crores.

Financial Performance Overview​

The sales performance metrics for the various business segments are presented below. The reported figures are indicative and will be finalized upon book closure, and all figures are on a standalone basis.


The overall performance across business segments for the fiscal year 2026 is summarized in the following table:

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