Awl Agri Business Ltd · NSE:AWL
Awl Agri Business — Q3 FY2026 Earnings Presentation
41 slides from Awl Agri Business's earnings presentation, Feb 3, 2026
Slide 1: Stock exchange cover letter for investor presentation
AVVL Agri business Ref No: AWL/SECT/2025-26/95 February 3, 2026 BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 543458 Scrip Code: AWL Dear Sir/ Madam, Sub: Invest
Slide 2: Investor Presentation: Q3'26
A L Agribusiness Investor Presentation: Q3’26 Tuesday Feb 03, 2026| 05.30pm IST
Slide 3: Safe Harbour Statement
Safe Harbour Statement This Release / Communication, except for the historical information, may contain statements, including the words or phrases such as ‘expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should’ and similar
Slide 4: Macro Context Q3'26
Macro Context Q3’26 │ 3 rtune· edibleollscndfoods
Slide 5: Operating Macro Context: Q3 FY'26
Operating Macro Context: Q3 FY’26 Grammage play in Packed Oils Ukraine war & Sunflower Oil Edible Oil: Rangebound Prices continues ▪ Industry continues to downsize grammage ▪ Russia-Ukraine war intensified, impacting ▪ Edible Oil remained more or less of consumer pack oils higher sun oil prices rang
Slide 6: Edible Oil: Imports
Edible Oil: Imports Annual: Imports have remained flattish in the past 2 years Annual Import Trend: Edible Oil Monthly Import Trend: Edible Oil (MMT) (MMT) Total Oil Imports 16.5 1.7 1.7 16.0 16.0 1.6 1.6 14.0 1.3 1.4 1.3 1.2 (in Million MT) 0.9 OY22 OY23 OY24 OY25 - 2.5 OY26 I I Apr 25 May 25 Jun 2
Slide 7: Crude Edible Oil: Price Trend
Crude Edible Oil: Price Trend Sunflower Oil continued to maintain premium over Soya & Palm 1,400 Palm Soya .......Sun USD per MT 1,300 1,200 1,100 1,000 900 Apr 24 May 24 Jun 24 Jul 24 Aug 24 Sept 24 Oct 24 Nov 24 Dec 24 Jan 25 Feb 25 Mar 25 Apr 25 May 25 Jun 25 Jul 25 Aug 25 Sep 25 Oct 25 Nov 25 De
Slide 8: Raw Material Price Trend: Wheat
Raw Material Price Trend: Wheat Wheat Prices (INR per MT) FY24 FY25 FY26 34,000 Govt. OMSS Qty SND Increase Shortage 33,002 32,000 31,718 31,860 31,910 31,022 30,000 New Crop Arrival 29,050 28,756 28,828 28,540 28,163 28,010 27,500 27,650 28,974 28,000 27,119 28,700 28,023 27,248 27,250 26,000 26,46
Slide 9: Performance Q3'26
Performance Q3’26 │ 8 rtune· edibleollscndfoods
Slide 10: Result Snapshot: Q3 FY'26 Consolidated Financials
Result Snapshot: Q3 FY’26 Consolidated Financials Volume Revenue Topline 1.7 Million MT ₹ 18,603 Crore +3% YoY Growth +10% YoY Growth Operational EBITDA PAT Absolute Margins ₹ 637 Crore ₹ 269 Crore -19% YoY (reported) -35% YoY (reported) Gross Profit per Ton EBITDA per Ton Per MT Margins ₹ 12,141 pe
Slide 11: Result Snapshot: Q3 FY'26 – Operational Metrics
Result Snapshot: Q3 FY’26 – Operational Metrics Standalone Financials Fortune brand: Oil & Foods Kohinoor brand Kings: Oil & Foods Ghor ko khono when cooked tastes best with Fortune Growth across key brands 13% YoY 32% YoY 7% YoY Volume Growth Volume Growth Volume Growth 42% YoY 52% YoY 43% YoY Grow
Slide 12: AWL - P&L Highlights: Q3 & 9M FY'26 (Standalone)
Standalone Financials AWL - P&L Highlights: Q3 & 9M FY’26 INR Cr. Q3'26 Q2'26 Q3'25 QoQ % YoY % 9M'26 9M'25 YoY % FY'25 FY'24 YoY % Volume (MMT) 1.6 1.6 1.6 -2% 2% 4.8 4.8 1% 6.4 5.8 10% Revenue 17,854 17,126 16,470 4% 8% 51,726 44,189 17% 61,677 49,243 25% Gross Profit* 1,871 1,799 2,098 4% -11% 5,
Slide 13: AWL - P&L Highlights: Q3 & 9M FY'26 (Consolidated)
Consolidated Financials AWL - P&L Highlights: Q3 & 9M FY’26 INR Cr. Q3'26 Q2'26 Q3'25 QoQ % YoY % 9M'26 9M'25 YoY % FY'25 FY'24 YoY % Volume (MMT) 1.7 1.7 1.6 -1% 3% 4.9 4.9 0% 6.6 6.0 9.2% Revenue 18,603 17,605 16,839 6% 10% 53,266 45,443 17% 63,672 51,225 24% Gross Profit* 2,018 1,920 2,149 5% -6%
Slide 14: Quarterly: AWL – GP / EBITDA Trend
Quarterly: AWL – GP / EBITDA Trend Consolidated Financials in INR Crores Quarterly – GP Trend Quarterly – EBITDA Trend ,------------, '-------------- I I I I I I 792 2,149 I 2,018 1,920 1,461 1,492 1,722 1,439 1,653 1,563 1,799 1,807 1,724 1,757 605 _) Impact of Hedge Dis- alignment 626 615 519 559
Slide 15: Business Updates
Business Updates │ 14 rtune· edibleollscndfoods
Slide 16: Company Highlights: Q3 FY'26
Company Highlights: Q3 FY’26 Consolidated figures Reported Category – Volume Mix Segment Volume (Mn MT) YoY % Revenue (INR Cr.) YoY % PBT * YoY % Edible Oil 1.06 8% 15,025 12% 344 -41% Industry Edible Oil, 64% Essential, 18% Food & FMCG 0.30* -4% 1,648 6% 44 n.m. Industry Essentials 0.30 -8% 1,930 1
Slide 17: Company Highlights: Q3 FY'26
Company Highlights: Q3 FY’26 fo rtu~ .. - ; Check off all your _. ~Jtmm~,il'il'm~t:Rt. AWL Festive Delicosies f rtunsuji Agri business rtune ........... __ ▪ Alternate channels continued the strong growth momentum, with LTM revenues crossing INR 4,800+ crores o Alternate channel (E-Com, Q-Com, MT) d
Slide 18: Edible Oil Highlights: Q3 FY'26
Edible Oil Highlights: Q3 FY’26 ▪ Demand scenario o Moderate demand environment during the quarter, with improved offtake in the second half Q3’26, reflecting gradual recovery in consumer demand ▪ Volume increased by 8% YoY in Q3 o In Q3 FY26, the edible oil segment recorded a volume growth of 8% o
Slide 19: Food & FMCG Highlights: Q3 FY'26
Food & FMCG Highlights: Q3 FY’26 Segment Performance: Q3’26 Reported Excluding G2G Rice Business Figure YoY % Figure YoY % Volume 0.30* Mn MT -4% Volume 0.30* Mn MT 0% Revenue INR 1,648 Cr. 0% Revenue INR 1,648 Cr. 9% PBT INR 44 Cr. n.m. ▪ Food & FMCG volumes (excl. G2G business) was flat YoY in Q3
Slide 20: Industry essentials: Q3 FY'26
Industry essentials: Q3 FY’26 Segment Performance: Q3’26 Figure YoY % Volume 0.30 Mn MT -8% Revenue INR 1,930 Cr. 0% PBT INR 72 Cr. -12% Q3 volume decreased by 8% YoY • Oleochemicals volumes were flat during the quarter, due to optimum capacity utilization • Segment declined due to macro challenges
Slide 21: GD Foods: Sauces & Condiments business – Q3 FY26
GD Foods: Sauces & Condiments business – Q3 FY26 Q3 FY26 Performance 15% YoY 18% YoY ~54% Revenue Growth Volume Growth Material Margins ▪ Topline Performance in Q3 FY26 o GD Foods delivered a revenue growth of 15% YoY in Q3 FY26, with an underlying volume growth of 18% YoY o Growth was broad based a
Slide 22: GD Foods: Key Priorities
GD Foods: Key Priorities GTM & Distribution Faster distribution ramp up $OMNOll,IGG,(IT10N Leverage AWL infra AWL IMAGl!fOIIIMl'l'll!IENlAllONOMt.Y Agribusiness AWL’s Distribution, stock points Channels beyond GT HoReCa, Exports Tail-end Products Develop & grow large range of tail end products AWL │
Slide 23: Business Updates
Business Updates │ 22 rtune· edibleollscndfoods
Slide 24: Stepped up Brand Investments: Multiple Ad campaigns
Stepped up Brand Investments during the quarter: Multiple Ad campaigns TVC’s launched during the quarter Bhojon Bahini – Bengal’s Favourite Jodi Jab Sehat Badhiya, Toh Sab Badhiya Bhojon Bahinir Kotha Mano, Indiar No.1 Jodi Aano | Fortune Mustard Oil Fortune Soyabean Oil A new case has been filed an
Slide 25: Stepped up Brand Investments: Multiple Ad campaigns
Stepped up Brand Investments during the quarter: Multiple Ad campaigns New regional campaign “Pakko Gujarati” for Fortune Cottonlite Refined Cottonseed Oil was launched featuring Tiku Talsania, Siddharth Randeria, Apara Mehta & Puja Joshi પહેલા ઉંધિયં-પરી, પછી પતંગ-દોરી | પાક્કા ગજરાતીની ઉત્તરાયણ wi
Slide 26: General Trade Distribution: Direct Reach to Outlets & Towns
General Trade Distribution: Direct Reach to Outlets & Towns Total Reach of AWL Direct Reach Rural Coverage (As per Nielsen) > 26 Lac Outlets > 9.4 Lac+ Outlets 60,000+ rural towns Direct Reach: Outlets (in Lacs) Rural Town Coverage 60,000 58,000 9.49 55,000 8.6 8.7 8.97 50,290 7.8 8.2 7.4 43,610 7.2
Slide 27: Alternate Channel: E-com, Q-comm, MT - Q3 FY26
Alternate Channel: E-com, Q-comm, MT - Q3 FY26 Volume Growth YoY % Revenue Growth YoY % Share of Q-comm (within Alternate Channel) . . .:: .:: .:: .:~ ~ . 42% .:: . ... 39% . . . 30% ..: ••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ~ •••••••••••••••••••••••••••
Slide 28: Alternate Channel: Q-comm - Q3 FY26
Alternate Channel: Q-comm - Q3 FY26 Volume Growth YoY % Revenue Growth YoY % 65% ·. 65% . ~ / ••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••
Slide 29: Gradually building health & convenience focused food portfolio
Gradually building health & convinience focused food portfolio New Product Launch: Q3 FY26 Health & Convenience focused products Multi grain Atta Soya Nuggets Biryani Kit Kohinoor Brown Rice Premium Cold-pressed Mustard oil Fortune Xpert Fortune Xpert Pro Fortune Xpert Pro Rice Bran Oil Total Balanc
Slide 30: Annexure
Annexure │ 29 rtune· edibleollscndfoods
Slide 31: Reconciliation of Normalized Gross Profit and EBITDA
Reconciliation of Normalized Gross Profit and EBITDA Consolidated figures I Since Q4’24 results, there has been a reclassification of Derivative gain / loss I Earlier Classification Revised Classification Derivative gain / loss were classified under Derivative gain / loss is now classified under “Co
Slide 32: Edible Oil: Delivering healthy volume growth along with strong cashflows
Edible Oil: Delivering healthy volume growth along with strong cashflows Consolidated figures fo rtune re-flfled~ol f l Edible Oil: Growth % (Consolidated) in Million MT in Million MT Sehat se bhara, Gho, Ko Khano \~~ Quarterly Volume Trend Nine-Month Volume Trend 9%CAGR ► 4%CAGR ► 4.92 4.92 0.98 1.
Slide 33: Food & FMCG: Growing rapidly
Food & FMCG: Growing rapidly Consolidated figures Quarterly Topline Growth % (Consolidated) Nine-Month Topline Growth % (Consolidated) Volume (in Mn MT) Revenue (INR Cr) Volume (in Mn MT) Revenue (INR Cr) 0.99 1,558 1,648 0.88 0.75 4,809 4,743 ■ I I I I 0.31 0.30 1,277 0.63 II I I I I I 3,653 I II 0
Slide 34: Segment Results: Q3'26 & 9M'26
Segment Results: Q3’26 & 9M’26 All figures in INR Crores Segment Volumes in MMT Q3'26 Q2'26 Q3'25 QoQ % YoY % 9M'26 9M'25 YoY % FY'25 FY'24 YoY % Edible Oil 1.06 1.02 0.98 4% 8% 3.04 2.98 2% 4.02 3.67 10% Food & FMCG 0.30 0.32 0.31 -5% -4% 0.88 0.99 -11% 1.30 1.03 26% Industry Essentials 0.30 0.35 0
Slide 35: Segment Volumes & Revenues: Quarterly Trend
Segment Volumes & Revenues: Quarterly Trend Volume (Consol) in Million MT Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4’25 Q1’26 Q2’26 Q3’26 Edible Oil 0.7 0.82 0.96 0.88 0.89 0.85 0.94 0.98 1.00 1.00 0.98 1.04 0.96 1.02 1.06 Food & FMCG 0.19 0.22 0.22 0.25 0.23 0.26 0.26 0.28
Slide 36: Segment-wise Profitability
Segment-wise Profitability All figures in INR Crores Quarter 9M'26 Full Year INR in Crores Q3'26 Q3'25 9M'26 9M'25 FY25 FY24 FY23 Segment EBITDA (Excluding Other Income) Edible Oil 526 804 1,257 2,004 2,322 1,078 1,356 Food & FMCG 58 -32 220 16 63 172 98 Industry Essentials 90 97 344 217 324 140 389
Slide 37: Segment ROCE: LTM Dec 2025
Segment ROCE: LTM Sep’2025 Standalone Figures Segment ROCE: LTM Dec 2025 Edible Oil Food & FMCG Industry Essentials Unallocable# Total Rev / Capital Employed - A 5.1x 1.7x 3.9x n.a. 4.0x - Food business is in EBIT % - B 2.4% 3.6% =:> 5.0% n.a. 2.4% investment phase ROCE % [A x B] c=:> 13% 6% c=:>20%
Slide 38: Segment ROCE & Capital Employed: 5 Year trend
Standalone Figures Segment ROCE & Capital Employed: 5 Year trend ROCE % Capital Employed INR Crores FY22 FY23 FY24 FY25 LTM Dec 25 INR Crores FY22 FY23 FY24 FY25 LTM Dec 25 Edible oil I 14% 13% ` 13% 23% 13% I Edible oil 9,225 8,541 6,647 9,050 10,727 Food & FMCG -2% 4% 5% 1% 6% Food & FMCG I 886 1,
Slide 39: Building consumer awareness
Building consumer awareness Digital & Festive Integrations Qisse Kuchh Khaas – Celebrating India’s Rice Legacy #DiwaliKaFortune Fortune Soya Chunks × Pro Kabaddi League Try Fortune Soya Chunks Today! oOo (OJ Spends Reach {8.71 24M G IN PROGRESS Impressions Al Usage Q 59M 15K Clicks Entries 6.8 L 6.1
Slide 40: Rural penetration – High-impact rural branding at scale
Rural penetration – High-impact rural branding at scale Extensive on-ground visibility in markets World Food India Exhibition Fortune Chhath Stall Activation Jio Exhibition Centre – Horeca & Speciality Fats AWL │ 39 Agribusiness
Slide 41: Thank You
Thank You ~ C ::, ,.._., poho -= ::. N.tw.lQ,l,I 5009 rtune· edibleollscndfoods