Awl Agri Business Ltd · NSE:AWL

Awl Agri Business — Q3 FY2025 Earnings Presentation

117 slides from Awl Agri Business's earnings presentation, Jan 27, 2025

1. Slide 1: Cover letter to stock exchanges

   adani wilmar Ref No: AWL/SECT/2024-25/93 27th January 2025 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: Investor Pr

2. Slide 2: Investor Presentation: Q3'25

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3. 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

4. Slide 4: Result Summary

   Result Summary 3 fi rtune· edible oils and foods

5. Slide 5: AWL - P&L Highlights: Q3 FY'25 & 9M FY'25 (Consolidated)

   Consolidated Financials AWL - P&L Highlights: Q3 FY’25 & 9M FY’25 INR Cr. Q3'25 Q2'25 Q3'24 QoQ % YoY % 9M'25 9M'24 YoY % Volume (in Million MT) 1.62 1.64 1.54 -2% 5% 4.92 4.48 10% Revenue 16,859 14,460 12,828 17% 31% 45,488 38,024 20% Gross Profit (normalized) 2,169 1,818 1,653 19% 31% 5,801 4,054

6. Slide 6: AWL - P&L Highlights: Q3 FY'25 & 9M FY'25 (Standalone)

   Standalone Financials AWL - P&L Highlights: Q3 FY’25 & 9M FY’25 INR Cr. Q3'25 Q2'25 Q3'24 QoQ % YoY % 9M'25 9M'24 YoY % Volume (in Million MT) 1.58 1.59 1.49 -1% 6% 4.80 4.34 11% Revenue 16,491 13,994 12,440 18% 33% 44,235 36,539 21% Gross Profit (normalized) 2,118 1,780 1,631 19% 30% 5,655 3,926 44

7. Slide 7: AWL - Quarterly Profit Trend

   AWL - Quarterly Profit Trend Standalone figures in INR Crores Gross Profits (Normalized)* EBITDA (Normalized)* ,------------. .------------1 I 2,118 I I I I 782 1,683 I 1,631 1,491 1,756 1,780 623 1 i Impact of Hedge Dis-alignment -----· • 624 a 609 1,353 1,344 1,395 1,388 1,356 1,190 1,121 1,293 1,

8. Slide 8: AWL - Quarterly Profit Trend (per MT)

   AWL - Quarterly Profit Trend (per MT) Standalone figures Quarterly Trend: Gross Profit per MT Average Gross Profit of INR 10,655 per MT in INR per MT 13,427 11,698 12,171 11,284 11,740 11,392 11,886 10,859 11,205 10,571 11,100 10,942 10,021 9,149 9,288 10,253 9,383 8,323 7,748 T T T T T T T T T T Q1

9. Slide 9: Segment Results: Q3 FY'25

   Segment Results: Q3 FY’25 Consolidated Financials Segment Volume in Million MT Q3'25 Q2'25 Q3'24 QoQ % YoY % 9M'25 9M'24 YoY % Edible Oil 0.98 1.00 0.94 -2% 4% 2.98 2.69 11% Food & FMCG 0.31 0.35 0.26 -11% 23% 0.99 0.75 32% Industry Essentials 0.32 0.29 0.34 11% -3% 0.95 1.04 -9% Total 1.62 1.64 1.5

10. Slide 10: Segment-wise Profitability

    Segment-wise Profitability 9M'25 Annual INR in Crores 9M'25 9M'24 LTM Dec 24 FY24 FY23 FY22 Segment EBITDA (Excluding Other Income) Edible Oil Food & FMCG C 2,004 16 => c=::::> 707 121 I 2,375 67 1,078 172 1,356 98 1,532 4 J Industry Essentials 217 148 209 140 389 419 Unallocable (216) (168) (290) (

11. Slide 11: Segment ROCE: LTM Dec 2024

    Segment ROCE: LTM Dec 2024 Standalone Figures Segment ROCE: LTM Dec 2024 Edible Oil Food & FMCG Industry Essentials Unallocable Total Rev / Capital Employed – A 4.5x 2.1x 4.3x n.a. 3.8x . r Food business is in EBIT % - B 4.9% 0.6% 2.3% n.a. 3.5% investment phase ROCE % [A x B] C 22% =:, 1% 10% n.a.

12. Slide 12: Segment ROCE & Capital Employed: 3 Year trend

    Standalone Figures Segment ROCE & Capital Employed: 3 Year trend ROCE % Capital Employed INR Crores Mar ’22 Mar ’23 Mar ‘24 Dec 24 INR Crores FY22 FY23 FY24 LTM Dec 24 Edible Oil 9,225 8,541 6,647 10,325 Food & FMCG I 886 1,684 2,867 2,838 l Edible 14% 13% 13% C=:> 22% Industry Essentials 1,538 1,75

13. Slide 13: Market Context

    Market Context 12 edible oils and foods

14. Slide 14: Commodity Prices: Edible Oil

    Commodity Prices: Edible Oil Long-term trend: Monthly Average Prices (CNF Prices / USD per MT)* Palm Soya ...... Sun 1,300 1,200 1,100 1,000 900 800 Jul 23 Aug 23 Sept 23 Oct 23 Nov 23 Dec 23 Jan 24 Feb 24 Mar 24 Apr 24 May 24 Jun 24 Jul 24 Aug 24 Sept 24 Oct 24 Nov 24 Dec 24 [ ▪ Palm (CPO) prices t

15. Slide 15: Industry Growth Trends: Retail Consumption

    Industry Growth Trends: Retail Consumption ■ Total ■ Urban ■ Rural 13% 15% 10% Edible Oil 5% 7% 5% 4% 8% (incl. Mustard) Q2'24 -•- - - Q3'24 2% 3% 3% 2% Q4'24 0% -1% 1% Q1'25 -- 2% 2% 2% Q2'25 - Q3'25 -■ ■ Total ■ Urban ■ Rural 21% 24% 13% 12% 16% 15% 14% Wheat Flour 11% Q2'24 -4% 2% Q3'24 - 3% -2%

16. Slide 16: Business Updates

    Business Updates 15 edible oils and foods

17. Slide 17: Company Highlights

    Consolidated figures Company Highlights ▪ Q3 volume growth of 5% YoY ▪ Driven by strong volume growth of 23% YoY in Food & FMCG segment. Edible oil also grew by 4% YoY. ▪ Q3 revenue at INR 16,859 crores ▪ Revenue grew by 31% YoY, driven by both edible oil and food business ▪ Highest-ever 9-months EB

18. Slide 18: Edible Oil: Highlights

    Consolidated figures Edible Oil: Highlights ▪ Recorded 4% YoY volume growth in Q3, compared to last year ▪ Revenue of INR 13,387 crores is Q3, up 38% YoY ▪ Branded sales volume declined in low single digits, primarily due to double-digit decline in packed palm oil sales volume and downtrading by con

19. Slide 19: Food & FMCG: Highlights

    Food & FMCG: Highlights Consolidated figures ▪ Food & FMCG revenue grew by 22% YoY in Q3’25 to INR 1,558 crores. Underlying volume growth of 23% YoY ▪ Excluding the sales of Rice to government appointed agencies for exports, volume growth was 18% YoY ▪ All categories, except branded Rice, continued

20. Slide 20: ESG Update

    ESG Update ▪ Fortune SuPoshan wins CSR Awards 2024 ▪ Fortune SuPoshan, AWL's flagship CSR initiative, has been honored with the prestigious Indian CSR Awards 2024 in the category of 'Best Rural Children Healthcare Initiative of the Year – 2024.’ ▪ Won award for green manufacturing ▪ AWL’s Mundra and

21. Slide 21: Edible Oil: Delivering stable volume growth along with healthy cashflows

    Consolidated figures Edible Oil: Delivering stable volume growth along with healthy cashflows Edible Oil: Volume Growth % (Consolidated) Quarterly Sales Trend in Million MT Nine-Month Sales Trend in Million MT 4.92 4.48 3.98 0.96 0.94 0.98 3.51 0.89 Q3'22 Q3'23 Q3'24 Q3'25 9M'22 9M'23 9M'24 9M'25 St

22. Slide 22: Food & FMCG: Growing rapidly

    Consolidated figures Food & FMCG: Growing rapidly 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 4,794 1,538 0.75 0.31 1,277 3,653 0.26 1,020 0.63 2,885 0.22 0.45 0.17 703 1,862 Q3'22 Q3'

23. Slide 23: General Trade Distribution – Increasing towns & outlet reach

    General Trade Distribution – Increasing towns & outlet reach Total Reach* Direct Reach Rural Coverage Rural Saliency > 2.1 Mn+ Outlets > 0.82 Mn+ Outlets 43,600+ rural towns ~30% (Volumes) Direct Reach: Outlets (in Lacs) Rural Town Coverage 43,600+ 2.7x 2x 8.2 7.7 7.4 7.2 5.9 x 5.0 3,256 3.5 3.0 Mar

24. Slide 24: Emerging Channels continue to grow at a faster rate

    Emerging Channels continue to grow at a faster rate Key Highlights Volume Growth YoY % Overall Alternate Channel E-Com Quick Com Revenue from Alternate channels is around ~INR 3,300+ crores in LTM Dec’24 81% 74% 66% 61% Fortune brand has a high market share in 50% 51% Alternate alternate channels ac

25. Slide 25: Integrated Food Complex in Gohana, Haryana (1/2)

    Integrated Food Complex in Gohana, Haryana: Partial Commencement of Operations (1/2) Spread across 80 Acres: One of India’s largest Integrated Food Complex Aerial View: Mustard, Rice Bran & Cottonseed Oil Aerial View: Rice Complex Gohana project has achieved 80%+ completion, and production of Rice a

26. Slide 26: Integrated Food Complex in Gohana, Haryana: Progress (2/2)

    Integrated Food Complex in Gohana, Haryana: Snapshots of ongoing Progress (2/2) Tank Farm Area Parboiling Unit Rice Bran / Mustard SEP Atta Building Wheat Silo ETP Construction of Chakki Atta, Refined Flour Mill (RFM) and Refinery is underway 25

27. Slide 27: Extensive consumer engagements on Digital Platforms (1/2)

    Extensive consumer engagements on Digital Platforms (1/2) Engaging consumers on Social Media Celebrating 25 Years of Fortune Engaging through Influencer Leveraging social media for enhancing brand visibility 26

28. Slide 28: Extensive consumer engagements on Digital Platforms (2/2)

    Extensive consumer engagements on Digital Platforms (2/2) Engaging consumers on Social Media across occasions and festivities Leveraging social media for enhancing brand visibility 27

29. Slide 29: Engaging with consumers through Extensive BTL Activities (1/2)

    Engaging with consumers through Extensive BTL Activities (1/2) BTL Activations across festivities and high footfall locations Durga Puja Branding on Metros: Kolkata & Delhi Chhat Puja Branding on Mumbai Local Trains Extensive BTL activations for continual visibility 28

30. Slide 30: Engaging with consumers through Extensive BTL Activities (2/2)

    Engaging with consumers through Extensive BTL Activities (2/2) Extensive plan for Rural Immersion Extensive BTL activations for continual visibility 29

31. Slide 31: Key Takeaways: Q3'25

    Key Takeaways: Q3’25 ▪ Overall volumes grew by 5% YoY in Q3’25 ▪ Food & FMCG revenue of INR 6,150 Crores+ in LTM Dec ’24. Targeting to reach INR 10,000 crores in FY’27 ▪ Operating EBITDA at INR 2,390+ Crore in LTM Dec ‘24 ▪ Edible Oil: ▪ Edible Oil volumes grew by 4% YoY in Q3’25 ▪ Food & FMCG: ❑ Fo

32. Slide 32: ESG

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33. Slide 33: ESG - Environment KPIs

    ESG - Environment KPIs Energy and Water Conservation Rail Green Points Solar Plants Capacity (in KWp) Multiple initiatives have been taken for 16,819 process optimization, resulting in savings in utilities 8,819 Savings YTD Nov’24 Year Rail Green Points 4,546 Steam 7.0% FY ’23 22,229 Power 3.1% FY ’

34. Slide 34: ESG - Logistic KPIs

    ESG - Logistic KPIs Direct Dispatch to Customers Volume Dispatch in Multi-Modal * 50% 55% 51% 25% 39% 23% 23% 18% FY22 FY23 FY24 9M'25 FY22 FY23 FY24 9M'25 Dispatch by Green Fuel (CNG) Remarks FY23 FY24 9M'25 • Pro-actively promoting green fuel in AWL supply chain 15.4% 9.0% • Efficiency in logistic

35. Slide 35: Indian Railways recognizes AWL for carbon emission reduction

    Indian Railways recognizes AWL for carbon emission reduction Mode Emission Factor (KgCO2 per ton-km) Rail 0.009 Road 0.040 34

36. Slide 36: Awards & Recognition

    Awards & Recognition AWL has won silver in Skoch Digital Transformation Inclusion of AWL in FTSE4Good Index Series award for “Integrated Logistics Management System” 35

37. Slide 37: Aspiration to become India's largest Food FMCG player

    Aspiration to become India’s largest Food FMCG player s best wh ith edible oils and foods fi rtune· edible oils and foods

38. Slide 38: Annexure

    Annexure 25+ quolltij test possed product 37 fi rtune· edible oils and foods

39. Slide 39: Reconciliation of Normalized Gross Profit and EBITDA

    Reconciliation of Normalized Gross Profit and EBITDA Consolidated figures Since Q4’24 results, there has been a reclassification of Derivative gain / loss Earlier Classification Revised Classification Derivative gain / loss were classified under Derivative gain / loss were classified under “Cost of

40. Slide 40: Company Overview

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41. Slide 41: AWL: One of the largest packaged Foods Company in India

    AWL: One of the largest packaged Foods Company in India Packaged Staple Foods revenue of ~INR 37,000 Crore* Pan-India player (~75% of overall oil & food sales) Market share in #3 Household Reach consumer pack# #1 #2 ▪ Edible Oil: ~18% 121 Million ▪ Wheat Flour: ~6% Households ▪ Basmati Rice: ~6% #1

42. Slide 42: Adani Wilmar Limited as of Today [1/2]

    Adani Wilmar Limited as of Today [1/2] Market Leader with Diversified Product Portfolio with Presence across Price Points Scaled & Iconic Brand Over 2 decades of trust Edible Oil Food & FMCG Industry Essentials Edible #1 Oil player Strong Track Record of Fast Growing Foods & Addressing Multiple Oleo

43. Slide 43: Adani Wilmar Limited as of Today [2/2]

    Adani Wilmar Limited as of Today [2/2] End to End Integration Leading to Superior Efficiencies and Quality Control Extensive World-Class Strong Parentage with Sourcing Network Manufacturing Plants Complementary Strengths An intricate network of suppliers Own Units 23 Units across continents Long sta

44. Slide 44: AWL has been a compounding growth story since inception in 1999

    AWL has been a compounding growth story since inception in 1999 Revenue EBITDA INR Crores INR Crores 23% 23% CAGR CAGR 64% 37% 18% 38% 34% 17% 13% 30% 30% 10% 16% 6% 58,726 2,390 29,657 1,310 3,393 12,043 17,887 417 1,825 141 404 15 39 112 FY 01 FY 04 FY 08 FY 12 FY 16 FY 20 LTM Dec'24 FY 01 FY 04 F

45. Slide 45: AWL: Addressing large opportunity in packaged staple foods

    AWL: Addressing large opportunity in packaged staple foods Our Business segments Edible Oil & Foods business Chemicals & other Industrial Essentials Edible Oil Food & FMCG Industry Essentials Major Products Products Products Soap Noodles Glycerine Stearic Acid Distilled Fatty Acid Sunflower Soyabean

46. Slide 46: Addressing opportunity through a household brand name

    Addressing opportunity through a household brand name ‘Fortune’ brand size is INR 20,000+ Crores Our other brands 45

47. Slide 47: Business Mix

    Business Mix Volume Value 19% 14% 12% 22% 10% 11% 17% 20% 76% 77% 61% 61% FY24 9M'25 FY24 9M'25 Edible Food Industry Oil & FMCG Essentials

48. Slide 48: AWL: Growing at fast-pace at scale

    AWL: Growing at fast-pace at scale Sales Volume* in Million MT 8% 5.48 6.02 6.46 4.31 4.46 4.80 3.79 4.12 2.92 3.05 3.29 2.70 2.43 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 LTM Dec'24 *Sales Volume excludes pass through sales of raw sugar for FY14 to FY19 Operating Revenue in INR C

49. Slide 49: Our strengths enabled dominant leadership in Edible Oils

    Our strengths enabled dominant leadership in Edible Oils Leading in most of the markets Leadership across oils Dominant Leader 19.0%* 48% #1 #2 #1 Mustard Oil Soyabean Palm Oil 13.5% 6.5% 6.9% 6.0% #3Sunflower #1 Ricebran Oil Oil >50% MS Market share ~1.5x of No.1 No.1 30-50% MS the next competitor

50. Slide 50: Edible Oils segment generating strong cash flows

    Edible Oils segment generating strong cash flows Sales Revenue Trend Sales Volume Trend Standalone EBITDA* INR Crores In Million MT INR Crores 4.0 3.4 3.7 2,432 45,378 46,104 38,788 45,208 2.6 2.8 3.0 3.3 30,819 1,614 1,393 21,540 23,477 1,168 1,139 1,146 992 FY19 FY20 FY21 FY22 FY23 FY24 LTM Dec FY

51. Slide 51: Large TAM in staple foods; few large players have capabilities to benefit from formalization

    Large TAM in staple foods; few large players have capabilities to benefit from formalization Edible oil & Staples together form 60-70% of the Indian kitchen / grocery spends TAM Category Branded % (in Lakh Cr.) Edible Oils 2.0 75% Wheat 1.5 12% Rice 2.1 11% Large scope to improve branded penetration

52. Slide 52: Replicating edible oil playbook in other food products

    Replicating edible oil playbook in other food products…. at a faster rate with all capabilities in place Food and FMCG Increasing Share of Food and FMCG Improving EBITDA Margins of Multi-fold Revenue growth Business in Volume Mix Food and FMCG INR Crores % of Total Sales Volume % 20%^ 6,150 17% 4,99

53. Slide 53: Soft roti ka vaada

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54. Slide 54: Bundling is enabling trials in under-penetrated geographies at a large scale

    Bundling is enabling trials in under-penetrated geographies at a large scale Fortune has a unique advantage of bundling its new products with its established portfolio of Oils, Wheat Flour & Rice

55. Slide 55: Depth in each of our Product Categories

    Depth in each of our Product Categories Wide range of Products, while focusing on few agri-commodities Wheat Products Wheat Flour Refined Wheat Suji Rawa Whole Wheat Flour (Semolina) (Semolina) Fortune Fortune Fortune Fortune Chakki Fresh Atta Maida Chakki Fresh Atta Rawa Rice Basmati Rice Non - Bas

56. Slide 56: Building Health & convenience focused food product portfolio

    Building Health & convenience focused food product portfolio Increasing focus on value added products Health-focused Edible Oils Blended edible Oils Rice Bran Oil Fortune Xpert Total Balance Oil Fortune Xpert Pro Immunity Oil Fortune Xpert Pro Sugar Conscious Oil Fortune Rice Bran Health Health & Co

57. Slide 57: Forward-integration of our oleo-chemical business

    Forward-integration of our oleo-chemical business Immense value addition opportunities available in Oleo business Soap Multi-purpose Cleaner For HoReCa clients For Retail consumers For Surface and Utensils Cleaning Launched in FY20, sales crossed INR 100 Crores in FY23 Product was launched in Q1 FY2

58. Slide 58: Advanced capabilities driving profitability in packaged staple foods

    Advanced capabilities driving profitability in packaged staple foods Integrated Business Model Sourcing from origins Bypassing intermediaries Customers Retail Consumers Using intelligence from Wilmar’s Commodity Risk Management global presence Capabilities High asset utilization Integrated Manufactu

59. Slide 59: Platform strength is visible in numerous success stories

    Platform strength is visible in numerous success stories Adani Wilmar has built a Strong Platform → Launchpad for Further Expansion Launch of Alife Soap in Kohinoor acquired HoReCa team set up Branded Wheat Flour in Chennai (GT): 2020 in May 2022 in Q1 FY23 Exports MS%* 17.1% Crossed INR 100+ Cr. Cr

60. Slide 60: Focus is on adding value added products in existing categories

    Focus is on adding value added products in existing categories Health focused Oils Premium Mustard Oil Soya Chunks Biryani Kit Brown Rice Sharbati Atta *Source: Nielsen

61. Slide 61: Customers

    Customers fortune

62. Slide 62: Seizing opportunity in all key Customer Segments in oil & foods

    Seizing opportunity in all key Customer Segments in oil & foods ~80%+ of sales is from branded products* Emerging Opportunities​ Households​ HoReCa Institutional Exports Branded, Branded​ Branded​ Non-branded Private Label, Non-branded Significantly Higher Provides scale Key benefits increase in the

63. Slide 63: Emerging Channels are growing at exponential rate

    Emerging Channels are growing at exponential rate Organized HoReCa Branded Exports HoReCa sales crossed INR 600+ Crore in LTM Dec’24 Branded Exports revenues crossed INR 250+ Crore in LTM Dec’24 HoReCa distribution is now present in 40+ major cities of India Alternate Channels (E-com, Modern Trade,

64. Slide 64: Brands

    Brands

65. Slide 65: Presence across the price spectrum

    Presence across the price spectrum Super Premium Premium Bakery & Frying Popular* A healthy mix of premium and popular brands *Note: Only the key brands have been shown above

66. Slide 66: Portfolio of scaled up brands

    Portfolio of scaled up brands Strong brands built on basis of trust and quality over last 2 decades Value Edible Oil Foods FMCG INR 20,000 Cr + INR 4,000 Cr + Palm Oil & Vanaspati * INR 1,000 Cr + INR 500+ INR 100 Cr + Branded portfolio growing steadily * Rupchanda is a brand under BEOL (100% subsid

67. Slide 67: Marketing

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68. Slide 68: Celebrity-led advertising on mass media

    Celebrity-led advertising on mass media Soyabean Oil Campaign Soyabean Oil Campaign Sunflower Oil Campaign Fortune Atta Campaign King’s Mustard Oil Campaign

69. Slide 69: TV Campaigns

    TV Campaigns fi rtune· edible oils and foods

70. Slide 70: Fortune Flour Festival at one of the largest retailer (2/2)

    Fortune Flour Festival at one of the largest retailer (2/2) Event showcased the entire range of Fortune’s offering in flours (Atta, suji, rawa, maida & besan) The campaign led to 2x increase in market share of all flours in Q3’24 in the retail chain* *Source: As per data of the relevant retail chain

71. Slide 71: Impactful BTL activities in urban towns

    Impactful BTL activities in urban towns Metro campaign in Delhi: Daily Reach: ~4.2 Mn Commuters during campaign* *Source: As per estimates of media agencies fi rtune· edible oils and foods

72. Slide 72: BTL - Consumer engagements incorporating cultural nuances

    BTL - Consumer engagements incorporating cultural nuances Pickle Campaign promoting use of Fortune Kacchi Ghani Celebrating the pickle culture with multiple engagements Customized Packaging Social media engagement Live achaar (pickle) making workshops On-ground activation KGMO Pickle campaign “Achaa

73. Slide 73: Integrated Communication of Edible Oil & Foods

    Integrated Communication of Edible Oil & Foods ATL strategy following integrated approach of marketing Edible Oil & Foods together Fortune Sunflower + Rice + Atta Fortune Soyabean Oil + Maida BTL Activities promoting Edible Oil & Foods together Delhi Metro Fortune Soyabean Oil + Besan Ethnic design

74. Slide 74: Bundling: Leveraging the unique advantage of AWL

    Bundling: Leveraging the unique advantage of AWL Leveraging the brand equity of “Fortune” by offering bundling offers through Consumer & Trade Promotions Soya and Maida Soya and Maida Sunflower and Sugar Sunflower and Soya Nuggets Driving sales with bundling of edible oils and foods

75. Slide 75: Sales & Distribution

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76. Slide 76: Enhancing distribution is another key lever of growth

    Enhancing distribution is another key lever of growth Manufacturing Manufacturing Manufacturing Enhancing network designed for Focusforon network designed network designed for logistics efficiency logistics efficiency Network logistics expansion efficiency sales productivity Range selling Sales func

77. Slide 77: Increasing digitization of Sales function to capture demand

    Increasing digitization of Sales function to capture demand Manufacturing Manufacturing Manufacturing networkEveryday designed forgreat networkRural Activation designed for & networkRURAL Sales designed for Force logistics efficiency execution logistics efficiency Coverage Expansion logistics effici

78. Slide 78: Supply Chain & Production Planning

    Supply Chain & Production Planning

79. Slide 79: Efficient logistics to lower cost and capture demand

    Efficient logistics to lower cost and capture demand Manufacturing Manufacturing network network designed for Reverse designed for logistics Digitization logistics efficiency Auction efficiency Port-based refineries for imported Most of the supply chain workflow All truck hiring is done through edib

80. Slide 80: Proximity to markets: A depot at every 250 KM

    Proximity to markets: A depot at every 250 KM ~2.42 Million Sq. Ft. 98 Depots (Depot Storage Space)

81. Slide 81: Tech-Enabled Lean Supply Chain Network and Integrated Logistics

    Tech-Enabled Lean Supply Chain Network and Integrated Logistics Highly digitized with centralized control Efficient Logistics to Digitization of lower cost & capture Sales Function demand 01 02 Designed for structurally low-cost operations Customer Online reverse auction Engagement via for truck hir

82. Slide 82: Extensive use of data & analytics for supply chain efficiency

    Extensive use of data & analytics for supply chain efficiency Manufacturing & Logistics Planner SnOP Warehouse AWL’s SCM Management Warehousing Sourcing Clicksense Landscape System Logistics Integrated Logistics Management System

83. Slide 83: Developed reliable systems to tackle supply chain complexities

    Developed reliable systems to tackle supply chain complexities Forecasting Accuracy - Pan India Basis 120% 99% 96% 99% 96% 98% 99% 100% 93% 92% 93% 96% 89% 91% 80% 73% 60% 40% 20% 0% July August September October November December January February March April May June July 2022 2023

84. Slide 84: Sourcing & Risk Management

    Sourcing & Risk Management fortune

85. Slide 85: Robust Risk Management

    Robust Risk Management Full proof risk management framework in place to mitigate commodity risk Board approved policy Market Intelligence Periodic Review & Monitoring Real-time intelligence on global supply & Robust policy in place to govern commodity Daily Monitoring & Reporting of Exposure & deman

86. Slide 86: An Intricate Network of Reliable Suppliers Across Continents

    An Intricate Network of Reliable Suppliers Across Continents, Procuring at Origin Locations Soyabean Oil Key Advantages Palm Oil Sunflower Oil 1 2 Russia Favourable Bargaining commercial Power due to terms huge scale Ukraine Malaysia Indonesia Market 3 4 Top 4 Suppliers Inputs from co- Brazil intell

87. Slide 87: Manufacturing

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88. Slide 88: Strategically Located Manufacturing Facilities Spread across the Country

    Strategically Located Manufacturing Facilities Spread across the Country resulting in Higher Efficiencies | Stringent Quality Controls in place Own Units Third Party Units Total 70 units spread across 23 Units 47 Units multiple states 4 2 2 2 2 2 Focus on building Company is building Third-party uni

89. Slide 89: Integrated Business Model leading to Cost Efficiencies

    Integrated Business Model leading to Cost Efficiencies Mundra Plant Vidisha Plant Upcoming Plant End-to-End Integrated Plant Integrated Plant for Soya Integrated Plant in Gohana, Haryana The Mundra plant is the largest single location Covers entire value chain of soya-crushing, 3D Layout: Fully Inte

90. Slide 90: World Class Manufacturing Facilities

    World Class Manufacturing Facilities 23 Manufacturing Plants across India (10 plants are integrated complexes manufacturing both oil & foods)

91. Slide 91: Adding another Integrated Plant in Gohana, Haryana

    Adding another Integrated Plant in Gohana, Haryana Total Capex Outlay Land Area Estimated Annual Capacity ~INR 1,300 Crores ~78 Acres ~627,000 MT 3D Layout: Planned Capacities Fully Integrated Plant Product Category Estimated Annual Capacity Rice ~445,000 MT Wheat Flour, Suji, Rawa & Maida Illustrat

92. Slide 92: Bangladesh Business

    Bangladesh Business (100% Subsidiary of AWL)

93. Slide 93: Bangladesh Business (100% Subsidiary of AWL): Brief Snapshot

    Bangladesh Business (100% Subsidiary of AWL) : Brief Snapshot FY24 Sales Revenue FY24 Sales Volume FY24 Branded Sales % Share of Foods – FY24 INR 2,084 Crores 0.12 MMT 77% ~20% Product Basket Brands Soyabean Oil Mustard Oil Rice Bran Oil Sunflower Oil Palm Oil Rice Wheat Flour Refined Flour Deoiled

94. Slide 94: Brand Campaigns in Bangladesh

    Brand Campaigns in Bangladesh ::, BE L t ~ C91Mt'<lffi ~ l9lffitfwro~W! ~cf~~ ~~~ lltalllAIOI Basmati Rice { lf',T«fflffl~ { (ff,l~lfoll~I ffl,~ffl~~ I { Rffi'Rffliffili:-ill ✓~~~~ ~mwrnm ✓R'mr~noo , ✓m.ctt~mCfi't O!TTffll l ~~ adari witmar BE L KING'S SunfloterOil Profession (I Q[ Occasion ti "KING

95. Slide 95: Key Metrics

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96. Slide 96: Key Financial Metrics (1/4)

    Key Financial Metrics (1/4) Consolidated figures Revenue Gross Profit INR Crores INR Crores CAGR CAGR 12% 11% 58,185 58,726 7,379 54,155 51,555 6,002 5,383 5,632 37,090 4,323 4,601 4,287 29,657 3,583 3,732 28,797 26,472 2,784 2,982 23,309 2,408 17,320 17,266 17,887 FY14 FY15 FY16 FY17 FY18 FY19 FY20

97. Slide 97: Key Financial Metrics (2/4)

    Key Financial Metrics (2/4) Consolidated figures Sales Volume in Million MT Edible Oil Industry Essentials Food and FMCG 2.7 2.4 3.0 3.3 3.8 4.1 4.3 4.5 4.8 5.5 6.0 6.4 1% 3% 6% 6% 6% 7% 9% 11% 13% 16% 17% 19% 13% 17% 27% 29% 32% 30% 26% 23% 19% 23% 22% 20% 86% 79% 68% 66% 62% 63% 65% 66% 68% 61% 61

98. Slide 98: Key Financial Metrics (3/4)

    Key Financial Metrics (3/4) Consolidated figures Return on Equity (ROE %) Debt to Equity % 27% 6.0x 0.9x 5.4x 5.1x 25% 0.8x 22% 19% 20% 4.2x 3.9x 3.7x 3.6x 15% 13% 0.5x 3.2x 0.5x 2.8x 2.6x 2.6x 11% 0.4x 0.4x 7% 0.3x 6% 0.2x 2% 2% 0x 0x 0x FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 LTM FY

99. Slide 99: Other Metrics (4/4)

    Other Metrics (4/4) Consolidated Financials Total Debt to Equity 3.3x 2.8x 2.9x 2.4x 2.6x 2.2x 1.3x 0.8x 1.1x FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 Inventory Days Receivable Days 15 16 15 15 55 55 54 58 54 58 52 51 13 46 12 12 11 12 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY16 FY17 FY18

100. Slide 100: ESG

     © V) Wu fortune

101. Slide 101: Fortune SuPoshan: A Mission Against Malnutrition & Anemia

     Fortune SuPoshan: A Mission Against Malnutrition & Anemia Fortune SuPoshan touches life of three Target Groups 0-5 yrs age children Adolescent Girls Women in Reproductive Age Fortune SuPoshan touches four core areas Women Sustainable Health Education Empowerment Livelihood Good Health and Zero Hunge

102. Slide 102: Cumulative Coverage till December 2023

     Cumulative Coverage till December 2023 Particulars Coverage Sites Achieved Results 1 Total sites 31 Ongoing Sites New sites 2 Total Households 4,04,261 3 Total population 20,18,866 4 Total under five children 1,21,084 5 Total adolescent girls 1,22,425 6 Total women in reproductive age 3,37,496 Zero

103. Slide 103: Current Footprint (April 2022 – March 2023)

     Current Footprint (April 2022 – March 2023) 14 Sites 1169 Villages Ongoing Sites 11 States 550 Sanginis New sites 14 Districts 91,652 Alwar children 178 Slums 3,08,493 Varanasi Women & girls Neemuch Medadraj Vidisha Haldia 2 Narmada Nimrani Savner Raipur Zero Hunger More than 91652 A total of 93,899

104. Slide 104: Progress (March 2023 – December 2023)

     Progress (March 2023 – December 2023) Achievement Zero Hunger Good Health and Gender Equality Well-Being FY 2023- 24 Particulars (Till Dec) 1 2 Total under five children 1 82,700 screened Family Focus Group Counselling Discussion Total complicated SAM 93899 31258 2 410 children referred to NRC Total

105. Slide 105: Fortune SuPoshan: Highlights

     Fortune SuPoshan: Highlights Good Health and Zero Hunger Gender Equality Well-Being

106. Slide 106: fi rtune·

     fi rtune· edible oils and foods

107. Slide 107: Environment, Social & Governance

     Environment, Social & Governance Promoting Spearheading Committed to Efforts towards alternative source sustainability in environmental reducing water waste of power Edible oils in India sustainability Green Energy Water Conservation Sustainable Palm Oil Recyclable Packaging Successful solar power Z

108. Slide 108: Backed by a Professional Management Team with Strong Execution Capabilities

     Backed by a Professional Management Team with Strong Execution Capabilities Distinguished Board Kuok Khoon Hong Dorab Mistry Madhu Rao Angshu Mallick Non-Executive Chairman & Independent Director Independent Director MD & CEO Vice Chairman 40+ years of experience +40 years of 50+ years of 35+ years

109. Slide 109: Key Takeaways

     Vi a “A rm Key W” ~ © Ss © GY =< © = SUNOS! fortune

110. Slide 110: Adani Wilmar Limited as of Today

     Adani Wilmar Limited as of Today Over 2 decades of trust INR 58,726 Crores No. #1 Edible Oil brand Food & FMCG player offering Consolidated Operating No. #2 wheat flour brand kitchen essentials across India Revenue in LTM Dec’24 No. #3 Basmati rice brand 121 Million 2.1 Million Retail 70+ Manufactur

111. Slide 111: Leadership Position in our Key Products

     Leadership Position in our Key Products Industry Edible Oil Food & FMCG Essentials #1 Edible oil brand in India #2 in Wheat Flour (atta) #1 Player in Stearic Acid, Glycerine & Soap Noodles #1 Soyabean oil, Mustard #3 in Basmati Rice & Ricebran oil #1 Castor exporter from India #2 in Palm oil #2 in S

112. Slide 112: Why staple food category is attractive for AWL?

     Why staple food category is attractive for AWL? Large High Growth Strong Strong Category Potential Assets Capabilities Integrated business model Center of the plate Highly unorganized ‘Fortune’ Brand from Sourcing to Sales Branded Staples 23 Own Risk Management Huge TAM growing faster Manufacturing

113. Slide 113: AWL Structural Advantages

     AWL Structural Advantages Portfolio Advantage: Common capabilities (agri-sourcing, co- Packaged Staple Foods is an manufacturing, logistics) and attractive industry with large TAM common customer (distributor, of ~$90bn consumer) across all our products. This enables focus and highly efficient syste

114. Slide 114: AWL's Strengths

     AWL’s Strengths Proven Track record Fast-paced growth (leadership position or Large addressable at scale amongst Top-3 in multiple market categories) Leverage existing Potential for margin Large distribution setup to scale up new improvement network categories Support of 2 strong Strong Manufacturin

115. Slide 115: Multiple levers available to sustain fast growth and enhance margins

     Multiple levers available to sustain fast growth and enhance margins Edible Oil \ Food & FMCG \ Industry Essentials \ Continue to gain market share in a Leverage edible oil distribution to In-house capacity expansion highly fragmented market (2000+ increase penetration brands), primarily in under-in

116. Slide 116: o' ~ [ ~ ~c [ :J [ (D .

     115 o' ~ [ ~ ~c [ :J [ (D .

117. Slide 117: Legal Disclaimer

     Legal Disclaimer The information contained in this presentation is provided by Adani Wilmar Limited (together with its subsidiaries, the “Company” or “AWL”) to you solely for your reference and for information purposes only. This presentation is highly confidential and is being given solely for your

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