AWL Agri Business Ltd.Q2 revenue +26%, EBITDA ₹623 Cr, food margin 3.2%

AWL Agri Business's Q2 FY27 call, held on 27 October 2026, reported consolidated revenue of ₹22,202 crore, up 26% on 14% underlying volume growth, and normalised operating EBITDA of ₹623 crore, up 11%.

Profit before tax rose 4% to ₹344 crore but profit after tax fell 2% to ₹239 crore because of a minimum corporate tax on the Bangladesh subsidiary. Food and FMCG revenue rose 32% to ₹2,216 crore at a 3.2% EBITDA margin, within its 3% to 4% guide, with Fortune pulses up over 40% and branded exports up 72%. Edible oil EBITDA was about ₹4,100 a ton and Industry Essentials ₹4,300 a ton, above its ₹3,000 to ₹3,500 guide, though the 26% Industry Essentials growth is called a one-off.

Inventory rose about ₹6,000 crore, leaving H1 operating cash flow negative, which management expects to correct in the current quarter. Management expects FY27 volume growth of 8% to 9%, revenue near ₹85,000 crore and EBITDA near ₹2,600 crore, but flagged a 12% to 13% rainfall deficit, CPI near 6% and softer rural demand.