AWL Agri Business (AWL) Q4 24/25 earnings summary

Executive summary

• Achieved record consolidated revenue of INR 63,672 crore in FY25, up 24% year-over-year, with highest-ever EBITDA and PAT, and volume growth of 9% to 6.57 million MT.

• Company rebranded from Adani Wilmar Limited to AWL Agri Business Limited in March 2025, reflecting a broader agri focus.

• Bangladesh operations returned to profitability, aided by improving macroeconomic conditions.

• Board approved audited standalone and consolidated financial results for FY25 with unmodified audit opinion.

• Promoter shareholding reduced to 74.36% after Offer for Sale, meeting minimum public shareholding norms.

Financial highlights

• Q4 FY25 revenue reached INR 18,230 crore, up 38% year-over-year; full-year consolidated revenue was INR 63,672.24 crore, up from INR 51,225.10 crore.

• FY25 PAT surged to INR 1,225.81 crore, up from INR 147.99 crore in FY24; EBITDA exceeded INR 2,482 crore, up 90% year-over-year.

• Food and FMCG business revenue grew 26% year-over-year, surpassing INR 6,000 crore for the first time.

• Return on Equity (ROE) reached 27% in FY25, up from 22% in FY24; debt-to-equity ratio improved to 0.4x.

• Basic and diluted EPS (consolidated) for FY25 was ₹9.44, up from ₹1.14 in FY24.

Outlook and guidance

• Edible oil margins expected to remain stable, with EBITDA guidance of INR 3,500–3,600 per ton including other income.

• FY26 edible oil volume growth targeted at 7–8%, above industry average.

• Food and FMCG segment aims for INR 10,000 crore revenue by FY27, maintaining 20% CAGR; food business to remain EBITDA neutral for 2–3 years as it invests for growth.

• Focus on expanding distribution, increasing rural penetration, and leveraging bundling to drive growth in under-penetrated markets.

• Plans to increase direct outlet reach by 1.5x in FY26 for Food & FMCG.