AWL Agri Business Ltd

• Volume up 3% YoY; revenue increased 10%. • Edible oils volume grew 8%, mustard oil saw double-digit growth. • Food segment flat, but branded rice growth strong. • Alternate channels grew 42%, quick commerce up 65%.

🔍 Overview of Market Context

• The quarter had mixed conditions; sunflower oil volatile due to Ukraine conflict.
• Edible oil imports stable ~16 million tons over last 2 years, indicating steady consumption.

📈 Sales and Revenue

• 3% volume increase YoY; 10% revenue growth.
• Edible oil volumes grew 8%, especially mustard oil.
• Food segment flat excluding G2G; branded rice growing strongly.
• Industry Essentials declined; oleochemicals stable.

💰 Profitability and Margins

• Q3 EBITDA: INR 637 crores; 12-month EBITDA: INR ~2,200 crores.
• Profitability per ton improved QoQ; due to operating leverage and product mix.
• Food business EBITDA positive but in investment phase; meaningful margins in 2-3 years.

📊 Business Segment Highlights

• Core brands grew well; Fortune oils up 13% YoY.
• Kohinoor grew 32%; King’s brand second largest in oil & food.
• G.D. Foods acquisition shows 15% revenue, 18% volume growth; strong margins at 54%.

🚀 Channel and Distribution Strategy

• Alternate channels grew 42% YoY; quick commerce 65% growth and 30% of alternate volumes.
• Direct reach ~950,000 outlets; rural presence expanding.
• Continued brand investments and new launches (e.g., Multi Grain Atta).

📉 Pricing and Market Dynamics

• Packaging grammage reduced to 750g for affordability amid price pressures.
• Wheat prices rangebound, challenging inventory holders.

👀 Outlook and Guidance

• Risk management supports stable EBITDA per ton between INR 3,500-3,600.
• Food business to generate meaningful margins over next 2-3 years.
• Market share improving via brand strength and stable pricing.

This update highlights business growth, strategy, and outlook useful for investors.