Delivers Strong Q4 Volume Growth of 14%,

EBITDA of ₹ 628 Crore in Q4, a growth of 40% YoY

Performance driven by strong edible oil demand and continued investments in foods and alternate channels

Key Highlights

§ FY26 revenue achieved ₹ 74,731 Crore

§ Highest-ever quarterly revenue of ₹ 21,465 Crore

§ FY26 Operating EBITDA stood at ₹ 2,343 Crore

§ Edible Oil business recorded a volume growth of 17% YoY in Q4 FY26

§ Record revenue milestones across various channels:

o Alternate Channel revenues in FY26 crossed ₹ 5,200 Crore, a growth of 47% YoY

o HoReCa channel revenues in FY26 crossed ₹ 750 Crore, a growth of 40% YoY

o Branded exports revenues in FY26 crossed ₹ 450 Crore, a growth of 70% YoY

Macro Context

The macro environment during the quarter remained mixed, with continued volatility in commodity markets and intermittent supply-side challenges. However, consumer demand witnessed a sequential recovery compared to previous quarters, supporting improved offtake across categories. Against this backdrop, the Company delivered a resilient performance, driven by strong execution, improved channel traction, and a sustained focus on strengthening its distribution network.

Q4 FY26 Performance:

The Company reported revenue of ₹21,465 Crore in Q4 FY26, registering a growth of 18% YoY, supported by healthy underlying volume growth of 14%. This growth was primarily driven by robust offtake in the Edible Oil segment, aided by improved consumer demand.

Operational EBITDA for the quarter stood at ₹628 Crore, reflecting a strong growth of 40% YoY. Margin expansion was driven by improved profitability across both Edible Oil and Food segments. On unit metrics, both Gross Profit and EBITDA per MT witnessed meaningful improvement, supported by better profitability in Edible Oil.

FY26 Performance:

For the full year FY26, the Company recorded revenue of ₹74,731 Crore, marking a growth of 17% YoY, with underlying volume growth of 4%. Operational EBITDA stood at ₹2,343 Crore, with margins broadly in line with the previous year.

The Company witnessed broad-based improvement in profitability across all segments over the full year, reflecting better operating efficiencies.

Across Q4 FY26 and FY26, per MT margins remained in line with the management guidance.

GTM & Distribution

The Company continued to strengthen its distribution footprint, with direct reach expanding to over 9.65 lakh outlets during the year, an addition of more than 1 lakh outlets. Rural coverage also scaled up significantly, with presence now across 63,000+ towns.

With a strong distribution in place, the Company has, over the past two quarters, shifted its focus towards improving throughput and execution capabilities across the network. This includes targeted activation of high-potential outlets, strengthening sales productivity metrics, and route optimization to enhance efficiency.

Alternate Channels:

Alternate channels (E-com, Q-com, Modern Trade) continued to demonstrate strong growth momentum. During Q4 FY26, the channel delivered volume growth of 43% YoY, with robust performance across all sub-channels of E-Com, Q-Com and Modern Trade.

The Company continues to maintain high market shares in these channels, with Edible Oil at over 30%, wheat flour and rice at over 12%, besan at over 30%, and soya nuggets at over 40%. Most food categories witness consistent market share gains, supported by robust execution, brand equity of Fortune and strong consumer traction.

For the full year FY26, alternate channels recorded revenue of ₹5,200 Crore, reflecting a growth of 47% YoY, with underlying volume growth of 33%.

Other channels

The Branded Exports business continued its strong growth trajectory, with volume growth of 48% YoY during Q4 FY26. The Company has expanded its international presence to over 35 countries and continues to focus on strengthening distribution and entering new markets. For FY26, revenues from this segment crossed ₹450 Crore, growing at 70% YoY.

The HoReCa channel also delivered strong performance, with growth of 64% YoY in Q4 FY26. For the full year, revenues crossed ₹750 Crore. The Company has expanded its HoReCa presence to over 200 towns and continues to onboard large key accounts.

NPD

During the quarter, the Company expanded its premium portfolio of edible oils ‘Fortune Premio’, a curated range of high-quality specialty oils. The new range includes three variants of Olive oil and cold-pressed Mustard oil, catering to evolving consumer preferences for health-oriented and premium products.

These launches are aligned with the Company’s strategy to drive premiumization and strengthen its presence in high-value segments.

Edible Oil

Edible Oil segment delivered a strong performance during the quarter, with volume growth of 17% YoY, driven by improved consumer demand and enhanced execution across markets. Growth was broad-based across key categories.

The Company’s market share increased to 18.6% in Q4 FY26, reflecting an improvement of 60 basis points, further strengthening its leadership position in the branded edible oils market.

Food & FMCG

The Food & FMCG segment reported a volume growth of 6% YoY in Q4 FY26, with revenue growth of 18%. The domestic business, excluding exports, grew by 19% YoY, indicating strong underlying demand across categories.

The wheat flour business recorded high single-digit growth in Q4 FY26, while the domestic rice segment also witnessed strong traction driven by improved GT distribution. Rice exports were impacted during the quarter due to external factors.

For FY26, the segment recorded revenue of ₹6,473 Crore, a value growth of 9% YoY with underlying volume growth of 3% YoY excluding G2G. (G2G – volumes ~97,000 MT & value ₹ 314 Crore). Profitability improved during the year, with PBT reaching ₹212 Crore.

Industry Essentials

The Industry Essentials segment recorded growth of 13% YoY in volumes and 11% YoY in revenues during Q4 FY26.

GD Foods (sauces & condiments business)

GD Foods continued to deliver strong growth momentum during the quarter, with revenue growth of 21% YoY and volume growth of 24% YoY. Growth was broad-based across General Trade and Alternate Channels, supported by distribution expansion and improving brand visibility.

Omkar Chemicals (specialty chemicals business)

Omkar Chemicals reported double-digit volume growth during the quarter. For FY26, revenues crossed ₹300 Crore, with volumes doubling over the year, reflecting strong scale-up and improved operating performance.

Commenting on the results, Mr. Shrikant Kanhere, MD & CEO, AWL Agri Business Limited (formerly Adani Wilmar Limited) said:

“We have delivered a strong performance in Q4 FY26, supported by improving consumer demand and robust execution across our businesses. The Edible Oil segment witnessed healthy volume-led growth, while strong margin expansion during the quarter led to improved profitability across both Edible Oils and Foods.

Over the past year, we have significantly strengthened our distribution footprint and expanded our reach across both urban and rural markets. With this foundation in place, our focus is now on driving higher throughput, improving execution, and enhancing productivity across the network.

Our Alternate Channels and emerging businesses such as HoReCa and Branded Exports continue to scale up rapidly, delivering solid growth with better profitability. At the same time, our Food & FMCG portfolio is steadily progressing, with enhanced distribution and higher contribution to the overall business.

As we navigate the evolving macro environment, we remain focused on driving consistent, volume-led growth with increasing profitability as we continue to build a stronger portfolio.”