AWL Agri Business (AWL) Q2 24/25 earnings summary

Executive summary

• Achieved 12% YoY consolidated volume growth in Q2'25, with double-digit growth in both edible oils and Food & FMCG segments.

• Q2'25 consolidated revenue rose 18% YoY to INR 14,460 crores, with net profit at INR 311 crores, reversing a loss in Q2'24.

• Standalone operating EBITDA for LTM Sep'24 exceeded INR 2,100 crores, with Q2'25 EBITDA at INR 613 crores.

• Board approved unaudited standalone and consolidated financial results and a new ESOP scheme granting up to 1.29 crore options.

• Bangladesh subsidiary faced losses due to currency and political issues.

Financial highlights

• Q2'25 consolidated sales volume grew 12% YoY to 1.64 million MT; revenue up 18% YoY to INR 14,460 crores.

• Normalized gross profit up 49% YoY to INR 1,818 crores; normalized EBITDA up 326% YoY to INR 612 crores.

• Consolidated PAT for Q2'25 at INR 311 crores, compared to a loss of INR 131 crores in Q2'24.

• Food & FMCG segment revenue grew 34% YoY to INR 1,718 crores; underlying volume growth 33% YoY.

• Edible oil segment revenue up 21% YoY to INR 10,977 crores; segment PBT at INR 373 crores.

Outlook and guidance

• Targeting Food & FMCG revenue of INR 10,000 crores by FY'27.

• Continued focus on expanding distribution, rural reach, and alternate channels.

• Ongoing capacity expansion with a new integrated plant in Gohana, Haryana, expected completion by March 2025.