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 ₹ 23,316 Cr.
- Current Price ₹ 179
- High / Low ₹ 291 / 172
- Stock P/E 24.3
- 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: -7.00%
- 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 | 71,495 | |
| 27,666 | 28,348 | 35,765 | 52,418 | 57,223 | 50,126 | 61,186 | 69,430 | |
| Operating Profit | 1,131 | 1,310 | 1,326 | 1,736 | 962 | 1,135 | 2,486 | 2,065 |
| OPM % | 4% | 4% | 4% | 3% | 2% | 2% | 4% | 3% |
| 122 | 110 | 104 | 172 | 961 | 240 | 233 | 286 | |
| Interest | 487 | 569 | 407 | 541 | 775 | 749 | 724 | 711 |
| Depreciation | 199 | 241 | 268 | 309 | 358 | 364 | 395 | 419 |
| Profit before tax | 567 | 609 | 755 | 1,059 | 789 | 262 | 1,601 | 1,221 |
| Tax % | 37% | 34% | 14% | 27% | 30% | 35% | 27% | |
| 376 | 461 | 729 | 804 | 582 | 148 | 1,226 | 942 | |
| EPS in Rs | 32.86 | 40.32 | 63.74 | 6.18 | 4.48 | 1.14 | 9.43 | 7.23 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 6% |
| TTM: | 22% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 15% |
| TTM: | -20% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -26% |
| 1 Year: | -28% |
| 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% |
Insights
In beta| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Sales Volume - Edible Oil Million MT |
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| Sales Volume - Food & FMCG Million MT |
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| Consolidated Sales Volume - Total Million MT |
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| Rural Town Coverage Count ・Standalone data |
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| Crude Oil Refining Capacity TPD ・Standalone data |
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| Direct Reach Outlets Lakh Outlets ・Standalone data |
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| Market Share - Branded Edible Oil (ROCP) Percentage ・Standalone data |
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| Retail Outlet Reach Million Outlets ・Standalone data |
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| Seed Crushing Capacity TPD ・Standalone data |
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Documents
Announcements
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Disclosure Under Regulation 30 Of SEBI (LODR) Regulations 2015- No Objection From Exchanges For Reclassification Of Promoters/ Promoter Group
6 Mar - BSE and NSE approved reclassification of many Adani-related promoters to public on March 6, 2026.
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Disclosure Pursuant To Regulation 30 Of SEBI (LODR) Regulations 2015
27 Feb - GST appellate order dated 26 Feb 2026 confirms ₹28,72,625 penalty on refund claim; company to appeal.
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Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015.
13 Feb - AWL achieved S&P Global CSA score of 60, informed 12 Feb 2026.
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 9 Feb
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 6 Feb
Annual reports
Concalls
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Feb 2026Transcript PPT REC
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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 2025TranscriptAI SummaryPPT
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Oct 2024TranscriptAI SummaryPPT
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Sep 2024TranscriptAI SummaryPPT
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Aug 2024Transcript PPT
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Jul 2024TranscriptAI SummaryPPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Jan 2024TranscriptAI SummaryPPT
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Dec 2023TranscriptAI SummaryPPT
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Nov 2023Transcript PPT REC
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Nov 2023TranscriptAI SummaryPPT
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Aug 2023Transcript PPT
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Aug 2023TranscriptAI SummaryPPT
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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