Quarter Ended: March 2026
AWL Agri – Q4 FY26 Results
NSE
awl
BSE
543458
Strong topline growth led by edible oil segment, but margin compression and cost pressures impacted profitability significantly
key financial highlights
- Revenue from Operations:
- Revenue (Q4 FY26): ₹21,464.78 Cr
- QoQ Change: +15.4%
- YoY Change: +17.7%
- Previous Quarter (Q3 FY26): ₹18,602.67 Cr
- Previous Year (Q4 FY25): ₹18,229.59 Cr
- Revenue (Q4 FY26): ₹21,464.78 Cr
- Profit After Tax (PAT):
- PAT (Q4 FY26): ₹293.06 Cr
- QoQ Change: +9.0%
- YoY Change: +53.7%
- Previous Quarter (Q3 FY26): ₹269.03 Cr
- Previous Year (Q4 FY25): ₹190.66 Cr
- PAT (Q4 FY26): ₹293.06 Cr
- QoQ Performance
- Revenue Trend: Strong growth
- Profit Trend: Moderate growth
Margin Analysis
Key Drivers:
- High raw material cost (₹18,406 Cr)
- Increased operating and distribution expenses
- Volatility in edible oil pricing
- Thin margins in core edible oil business
Key Signal: Despite revenue growth, margin profile remains structurally thin, limiting profit scalability
Segment performance
Segment: Edible Oil
Revenue: ₹17,519.80 Cr
Insights:
- Dominant contributor (~82% of revenue)
- Volume-driven growth
- Highly price-sensitive business
Segment: Food & FMCG
Revenue: ₹1,730.51 Cr
Insights:
- Emerging growth segment
- Better margin potential vs edible oil
Segment: Industry Essentials
Revenue: ₹2,214.47 Cr
Insights:
- Stable contribution
- Linked to industrial demand cycles
Segment insight
Summary:
- Business is heavily dependent on edible oil segment, which drives volume but limits margins, while FMCG is the future margin driver
Characteristics:
- Commodity-linked pricing
- High volume, low margin model
- FMCG transition underway
- Diversification in progress
Earning quality check
Drivers:
- Strong operating cash flow: ₹3,928 Cr
- High working capital movement
- Commodity-driven earnings volatility
Interpretation:
- Earnings quality is moderate, supported by cash flows but exposed to commodity cycles
balance sheet Analysis
- Total Assets: ₹24,758.62 Cr
- Total Liabilities: ₹14,314.94 Cr
Insight:
- Strong working capital intensity (inventory ₹8,190 Cr)
- Increased borrowings
- Stable equity base (~₹10,443 Cr)
key risks
- Commodity price volatility (edible oil)
- Thin operating margins
- High working capital requirement
- Dependence on import/export policies
management strategy signals
Focus Area:
- Expanding FMCG segment
- Strengthening brand portfolio
- Improving margin mix
- Backward integration
Financial Metrics
| Particular | Q4 FY26 | Q.O.Q | Y.O.Y |
|---|---|---|---|
| Total Income | ₹21,623.30 Crore | +15.4% | +18.2% |
| PBT | ₹380.09 Crore | +4.6% | +62.1% |
| PAT | ₹293.06 Crore | +9.0% | +53.7% |
AWL Agri is a high-volume, low-margin business, showing strong revenue growth but limited profitability expansion. The real long-term story lies in its FMCG transition, which, if successful, can significantly improve margins.
Official Exchange Filing: AWL Agri Business Limited
Quarterly Performance Context
FISCAL YEAR
2025-2026
AUDIT STATUS
REVIEWED