AWL Agri Business Ltd
Incorporated in 1999, Adani Wilmar Ltd deals in edible oil and food and other FMCG products. Adani has exited the joint venture in FY24 to focus on other segments. AWL Agri Business is the new name decided in online voting.[1]
- Market Cap ₹ 34,318 Cr.
- Current Price ₹ 264
- High / Low ₹ 337 / 232
- Stock P/E 31.7
- Book Value ₹ 76.2
- Dividend Yield 0.00 %
- ROCE 20.9 %
- ROE 13.9 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -10.4%
- Company has a low return on equity of 7.89% over last 3 years.
- Company's cost of borrowing seems high
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 28,797 | 29,657 | 37,090 | 54,155 | 58,185 | 51,262 | 63,672 | 69,732 | |
| 27,666 | 28,348 | 35,765 | 52,418 | 57,223 | 50,126 | 61,186 | 67,428 | |
| Operating Profit | 1,131 | 1,310 | 1,326 | 1,736 | 962 | 1,135 | 2,486 | 2,304 |
| OPM % | 4% | 4% | 4% | 3% | 2% | 2% | 4% | 3% |
| 122 | 110 | 104 | 172 | 961 | 240 | 233 | 246 | |
| Interest | 487 | 569 | 407 | 541 | 775 | 749 | 724 | 730 |
| Depreciation | 199 | 241 | 268 | 309 | 358 | 364 | 395 | 416 |
| Profit before tax | 567 | 609 | 755 | 1,059 | 789 | 262 | 1,601 | 1,404 |
| Tax % | 37% | 34% | 14% | 27% | 30% | 35% | 27% | |
| 376 | 461 | 729 | 804 | 582 | 148 | 1,226 | 1,084 | |
| EPS in Rs | 32.86 | 40.32 | 63.74 | 6.18 | 4.48 | 1.14 | 9.43 | 8.32 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 6% |
| TTM: | 28% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 15% |
| TTM: | 10% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -25% |
| 1 Year: | -16% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 8% |
| Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 114 | 114 | 114 | 130 | 130 | 130 | 130 | 130 |
| Reserves | 1,997 | 2,456 | 3,185 | 7,476 | 8,036 | 8,186 | 9,294 | 9,776 |
| 1,829 | 2,300 | 3,051 | 2,701 | 2,396 | 2,628 | 1,937 | 1,096 | |
| 7,662 | 6,915 | 6,978 | 11,010 | 10,417 | 8,833 | 11,051 | 14,029 | |
| Total Liabilities | 11,603 | 11,786 | 13,328 | 21,317 | 20,979 | 19,777 | 22,412 | 25,030 |
| 3,027 | 3,758 | 3,702 | 4,601 | 4,793 | 4,930 | 5,481 | 6,621 | |
| CWIP | 570 | 325 | 531 | 275 | 324 | 870 | 1,060 | 746 |
| Investments | 147 | 206 | 332 | 362 | 392 | 312 | 624 | 547 |
| 7,858 | 7,497 | 8,763 | 16,079 | 15,469 | 13,665 | 15,248 | 17,116 | |
| Total Assets | 11,603 | 11,786 | 13,328 | 21,317 | 20,979 | 19,777 | 22,412 | 25,030 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 1,693 | 781 | 726 | 1,198 | 663 | 289 | 2,150 | |
| -934 | -506 | -484 | -3,786 | 524 | 138 | -278 | |
| -762 | -8 | -531 | 2,658 | -919 | -563 | -1,544 | |
| Net Cash Flow | -3 | 267 | -289 | 70 | 268 | -136 | 328 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 16 | 11 | 15 | 15 | 12 | 13 | 14 |
| Inventory Days | 61 | 57 | 55 | 58 | 53 | 58 | 56 |
| Days Payable | 101 | 85 | 60 | 69 | 59 | 56 | 56 |
| Cash Conversion Cycle | -24 | -17 | 10 | 4 | 6 | 14 | 14 |
| Working Capital Days | -19 | -18 | -8 | -12 | -6 | -4 | 2 |
| ROCE % | 27% | 21% | 19% | 15% | 10% | 21% |
Documents
Announcements
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Disclosure Under Reg 30 Of SEBI Listing Regulations
2d - Adani Group exited AWL—ACL sold 90,977,502 shares (7%) on Nov 21, 2025; promoters reclassified to public.
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Announcement under Regulation 30 (LODR)-Change in Management
2d - Two executives, Suchandan Chowdhury and Arvind Kumar Sharma, designated senior management effective 24 November 2025.
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Announcement under Regulation 30 (LODR)-Change in Directorate
2d - Board re-appointed four independent directors for five-year terms from June/July 2026 to 2031, subject to shareholder approval.
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Board Meeting Outcome for Outcome Of Board Meeting- Disclosure Under Regulation 30 Of SEBI LODR
2d - ACL sold 90,977,502 shares (7%) on 21 Nov 2025; Adani Group reclassified to public; board approved amended AoA.
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Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
2d - Adani sold 90,977,502 shares (7.00%) on Nov 21, 2025; seeks promoter-to-public reclassification.
Annual reports
Concalls
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Nov 2025Transcript PPT REC
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Jul 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Mar 2025TranscriptNotesPPT
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Oct 2024TranscriptNotesPPT
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Sep 2024TranscriptNotesPPT
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Aug 2024Transcript PPT
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Jul 2024TranscriptNotesPPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Jan 2024TranscriptNotesPPT
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Dec 2023TranscriptNotesPPT
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Nov 2023Transcript PPT REC
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Nov 2023TranscriptNotesPPT
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Aug 2023Transcript PPT
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Aug 2023TranscriptNotesPPT
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May 2023Transcript PPT
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Feb 2023TranscriptPPT
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Nov 2022TranscriptPPT
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Aug 2022TranscriptPPT
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May 2022TranscriptPPT
Business Segments