Edible Oil · Founded 1999 · www.awl.in · BSE 543458 · NSE AWL · ISIN INE699H01024
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Business
AWL Agri Business Ltd. operates in the edible oil sector in India. Its core business involves the processing, refining, and marketing of various edible oils. The company likely sources raw materials such as oilseeds (e.g., soybean, mustard, groundnut, sunflower) or crude edible oils from domestic and international markets. These raw materials are then processed through crushing, refining, and other purification methods to produce finished edible oils suitable for human consumption. The business model typically involves selling these oils in bulk to institutional buyers, or packaging them for retail distribution under its own brands or as private label products. Revenue is generated through the sale of these processed and packaged edible oil products to consumers and businesses.
Revenue Mix
Given its industry, AWL's primary segment is Edible Oil. Without specific financial disclosures, it is common for such companies to have a revenue mix across:
Types of Edible Oils: e.g., Soybean Oil, Palm Oil, Sunflower Oil, Mustard Oil, Groundnut Oil, etc.
Product Categories: Refined oils, crude oils (for industrial use), or specialty oils.
Sales Channels: Retail (packaged goods for consumers) and Institutional/B2B (bulk sales to food manufacturers, hotels, restaurants).
Contribution percentages for these sub-segments are not publicly available without detailed financial reports.
Industry
The Indian edible oil industry is one of the largest globally, characterized by high consumption driven by a large population and dietary staples. It is highly competitive, fragmented, and influenced by global commodity prices, import policies, and agricultural output. The industry comprises a few large national players (e.g., Adani Wilmar, Patanjali Foods, Marico) that have strong brand recognition and extensive distribution networks, alongside numerous regional and local processors. AWL Agri Business Ltd. is likely positioned as a regional or mid-sized player within this landscape. Its positioning would depend on its specific geographic focus, brand equity in its operating regions, cost efficiency in procurement and processing, and distribution reach compared to larger, more established companies.
MOAT
Without specific detailed information, it's challenging to identify strong, durable competitive advantages for AWL Agri Business Ltd. However, potential advantages for an edible oil company could include:
Efficient Sourcing & Procurement: Ability to consistently source raw materials (oilseeds or crude oils) at competitive prices, potentially through long-term relationships with farmers or international suppliers.
Cost-Effective Processing: Operational efficiencies in refining and packaging that allow for competitive pricing.
Regional Brand Strength: A strong, trusted brand name within specific geographic markets where it operates, fostering customer loyalty.
Distribution Network: A well-established and efficient distribution network that ensures product availability across its target markets.
For a company like AWL, these advantages are likely developing or localized, rather than global or industry-dominating.
Growth Drivers
Key factors that can drive growth for AWL Agri Business Ltd. over the next 3-5 years include:
Increasing Per Capita Consumption: India's growing population and rising disposable incomes typically lead to higher per capita consumption of edible oils.
Shift to Branded Products: A gradual shift from unbranded/loose oils to branded and packaged oils due to growing health awareness and quality concerns, which benefits organized players.
Expansion of Distribution: Widening its retail and institutional distribution network into new geographies or deeper into existing ones.
Product Diversification: Introducing new types of oils, value-added products (e.g., fortified oils, cooking oils blends), or expanding into related food categories.
Rural Market Penetration: Untapped potential in rural areas for branded edible oil products.
Risks
AWL Agri Business Ltd. faces several inherent risks:
Commodity Price Volatility: Significant fluctuations in the prices of raw materials (oilseeds, crude edible oils) due to global supply-demand dynamics, weather patterns, and geopolitical events can impact profitability.
Regulatory Changes: Changes in import duties, tariffs, subsidies, and food safety regulations by the Indian government can affect cost structures and market dynamics.
Intense Competition: High competition from larger, well-funded national players and numerous regional competitors can exert pressure on pricing and market share.
Supply Chain Disruptions: Disruptions in raw material procurement, processing, or distribution due to logistical challenges, natural calamities, or unforeseen events.
Currency Fluctuations: If the company relies on imported crude oils, adverse foreign exchange rate movements can increase import costs.
Dependence on Agriculture: Vulnerability to domestic agricultural output of oilseeds, which is dependent on monsoon and other climatic factors.
Management & Ownership
As is common for many businesses in India, particularly those not among the very largest public companies, AWL Agri Business Ltd. is likely promoter-driven. This typically means that the founding family or individuals hold a significant ownership stake and play a pivotal role in the company's management and strategic direction. Details regarding specific promoters, their experience, or the company's corporate governance structure are not readily available in general public domains without specific corporate filings. The ownership structure would typically involve the promoter group holding a majority stake, with potentially some shares held by other investors or employees.
Outlook
AWL Agri Business Ltd. operates in a fundamental and growing sector within the Indian economy. The bull case for the company rests on its ability to capitalize on India's sustained demand for edible oils, driven by population growth and increasing consumption. If the company can achieve efficient procurement and processing, strengthen its brand presence in its operating regions, and expand its distribution network, it has potential for steady growth. The bear case involves significant exposure to commodity price volatility, which can severely impact margins. Intense competition from larger players with greater financial resources and wider reach, coupled with the potential for adverse government policy changes (e.g., import duties), could limit its growth and profitability. Successfully navigating these challenges while executing on operational efficiencies and market expansion will be key to its performance.
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| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 12828 | 13223 | 14154 | 14450 | 16839 | 18230 | 17059 | 17605 | 18603 | 21465 |
| Other Income | 59 | 104 | 54 | 102 | 67 | 62 | 206 | -79 | 132 | 159 |
| Total Income | 12887 | 13327 | 14208 | 14552 | 16906 | 18292 | 17265 | 17526 | 18735 | 21623 |
| Total Expenditure | 12324 | 12866 | 13528 | 13881 | 16047 | 17781 | 16693 | 16916 | 18050 | 20941 |
| Operating Profit | 563 | 461 | 680 | 671 | 858 | 510 | 572 | 609 | 685 | 682 |
| Interest | 187 | 171 | 166 | 177 | 204 | 178 | 159 | 189 | 185 | 174 |
| Depreciation | 95 | 79 | 96 | 92 | 108 | 98 | 103 | 107 | 111 | 128 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -26 | 0 |
| Profit Before Tax | 281 | 211 | 418 | 402 | 546 | 234 | 311 | 313 | 363 | 380 |
| Provision for Tax | 75 | 56 | 107 | 120 | 153 | 58 | 79 | 85 | 102 | 111 |
| Profit After Tax | 206 | 155 | 312 | 282 | 393 | 177 | 232 | 228 | 262 | 269 |
| Adjustments | -5 | 2 | 2 | 29 | 17 | 14 | 5 | 17 | 7 | 23 |
| Profit After Adjustments | 201 | 157 | 313 | 311 | 411 | 190 | 236 | 245 | 269 | 292 |
| Adjusted Earnings Per Share | 1.5 | 1.2 | 2.4 | 2.4 | 3.2 | 1.5 | 1.8 | 1.9 | 2.1 | 2.3 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 17266 | 19035 | 23198 | 26472 | 28797 | 29657 | 37090 | 54155 | 58185 | 51225 | 63672 | 74732 |
| Other Income | 175 | 109 | 134 | 89 | 122 | 110 | 104 | 172 | 964 | 296 | 238 | 418 |
| Total Income | 17442 | 19144 | 23332 | 26561 | 28920 | 29767 | 37195 | 54327 | 59148 | 51521 | 63910 | 75149 |
| Total Expenditure | 16887 | 18518 | 22545 | 25544 | 27697 | 28348 | 35765 | 52419 | 57226 | 50092 | 61191 | 72600 |
| Operating Profit | 555 | 626 | 788 | 1017 | 1223 | 1419 | 1430 | 1909 | 1922 | 1429 | 2720 | 2548 |
| Interest | 331 | 333 | 328 | 298 | 470 | 569 | 407 | 541 | 775 | 749 | 724 | 707 |
| Depreciation | 107 | 115 | 119 | 146 | 182 | 241 | 268 | 309 | 358 | 364 | 395 | 449 |
| Exceptional Income / Expenses | 0 | 0 | 11 | 0 | 0 | 0 | 0 | 0 | 0 | -54 | 0 | -26 |
| Profit Before Tax | 117 | 178 | 352 | 573 | 571 | 609 | 755 | 1059 | 789 | 262 | 1601 | 1367 |
| Provision for Tax | 32 | 30 | 119 | 192 | 205 | 206 | 103 | 284 | 235 | 92 | 437 | 377 |
| Profit After Tax | 85 | 149 | 233 | 382 | 366 | 403 | 652 | 774 | 554 | 171 | 1163 | 991 |
| Adjustments | 0 | 0 | 0 | 26 | 21 | 58 | 77 | 29 | 29 | -23 | 62 | 52 |
| Profit After Adjustments | 85 | 149 | 233 | 408 | 387 | 461 | 729 | 804 | 582 | 148 | 1225 | 1042 |
| Adjusted Earnings Per Share | 0.7 | 1.3 | 2 | 3.6 | 3.4 | 4 | 6.4 | 6.2 | 4.5 | 1.1 | 9.5 | 8.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 24% | 6% | 17% | 14% |
| Operating Profit CAGR | 90% | 13% | 14% | 17% |
| PAT CAGR | 580% | 15% | 24% | 30% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -29% | -24% | NA% | NA% |
| ROE Average | 13% | 7% | 12% | 15% |
| ROCE Average | 21% | 15% | 17% | 19% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 853 | 1070 | 1321 | 1742 | 2128 | 2571 | 3299 | 7606 | 8166 | 8316 | 9424 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 726 | 629 | 463 | 190 | 965 | 1146 | 1024 | 45 | 0 | 0 | 186 |
| Other Non-Current Liabilities | 248 | 293 | 290 | 380 | 533 | 746 | 682 | 975 | 1126 | 1037 | 1075 |
| Total Current Liabilities | 4260 | 5338 | 5352 | 7318 | 7869 | 7323 | 8323 | 12691 | 11687 | 10424 | 11727 |
| Total Liabilities | 6087 | 7330 | 7426 | 9629 | 11495 | 11786 | 13328 | 21317 | 20979 | 19777 | 22412 |
| Fixed Assets | 1688 | 1940 | 1950 | 2273 | 2954 | 3758 | 3703 | 4601 | 4793 | 4921 | 5481 |
| Other Non-Current Assets | 322 | 495 | 277 | 734 | 945 | 697 | 918 | 1334 | 1648 | 2107 | 2293 |
| Total Current Assets | 4077 | 4895 | 5199 | 6623 | 7597 | 7331 | 8707 | 15382 | 14532 | 12718 | 14616 |
| Total Assets | 6087 | 7330 | 7426 | 9629 | 11495 | 11786 | 13328 | 21317 | 20979 | 19777 | 22412 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 19 | 41 | 42 | 52 | 82 | 79 | 346 | 57 | 127 | 394 | -25 |
| Cash Flow from Operating Activities | 111 | -72 | -51 | 1617 | 1673 | 781 | 726 | 1198 | 663 | 289 | 2150 |
| Cash Flow from Investing Activities | 831 | 6 | -398 | -941 | -934 | -506 | -484 | -3861 | 533 | 142 | -270 |
| Cash Flow from Financing Activities | -920 | 72 | 459 | -645 | -742 | -8 | -531 | 2658 | -919 | -847 | -1544 |
| Net Cash Inflow / Outflow | 21 | 6 | 10 | 30 | -3 | 267 | -289 | -5 | 277 | -416 | 336 |
| Closing Cash & Cash Equivalent | 41 | 47 | 52 | 82 | 79 | 346 | 57 | 127 | 395 | -25 | 302 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.74 | 1.3 | 2.04 | 3.57 | 3.39 | 4.03 | 6.37 | 6.18 | 4.48 | 1.14 | 9.46 |
| CEPS(Rs) | 1.68 | 2.31 | 3.08 | 4.61 | 4.79 | 5.64 | 8.05 | 8.34 | 7.02 | 4.11 | 12.03 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 7.46 | 9.35 | 11.56 | 15.24 | 18.62 | 22.49 | 28.87 | 58.52 | 62.83 | 63.98 | 72.7 |
| Core EBITDA Margin(%) | 2.19 | 2.7 | 2.8 | 3.51 | 3.81 | 4.39 | 3.55 | 3.19 | 1.64 | 2.19 | 3.86 |
| EBIT Margin(%) | 2.58 | 2.67 | 2.92 | 3.29 | 3.6 | 3.95 | 3.11 | 2.93 | 2.67 | 1.96 | 3.62 |
| Pre Tax Margin(%) | 0.67 | 0.93 | 1.51 | 2.17 | 1.97 | 2.04 | 2.02 | 1.94 | 1.35 | 0.51 | 2.49 |
| PAT Margin (%) | 0.49 | 0.78 | 1 | 1.44 | 1.26 | 1.35 | 1.75 | 1.42 | 0.95 | 0.33 | 1.81 |
| Cash Profit Margin (%) | 1.11 | 1.38 | 1.51 | 1.99 | 1.89 | 2.16 | 2.46 | 1.99 | 1.56 | 1.03 | 2.42 |
| ROA(%) | 1.33 | 2.21 | 3.16 | 4.48 | 3.46 | 3.46 | 5.19 | 4.47 | 2.62 | 0.84 | 5.51 |
| ROE(%) | 10.89 | 15.46 | 19.5 | 24.92 | 18.89 | 17.16 | 22.21 | 14.2 | 7.02 | 2.07 | 13.12 |
| ROCE(%) | 12.96 | 15.08 | 17.94 | 21.99 | 26.21 | 26.69 | 20.9 | 19.48 | 15.21 | 9.58 | 21.26 |
| Receivable days | 15.59 | 13.37 | 11.65 | 12.75 | 14.7 | 13.35 | 11.91 | 12.5 | 12.93 | 13.12 | 11.92 |
| Inventory Days | 37.57 | 45.39 | 45.28 | 46.32 | 49.25 | 48.22 | 42.08 | 41.83 | 47.97 | 52.58 | 44.99 |
| Payable days | 24.29 | 30.69 | 33.8 | 40.4 | 40.4 | 27.27 | 13.05 | 10.33 | 13.42 | 19.46 | 18.64 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 83.68 | 90.65 | 282.01 | 27.31 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.84 | 6.46 | 5.02 | 3.55 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.07 | 0.09 | 0.08 | 0.05 | 0.03 | 0.03 | 0.05 | 1.21 | 0.88 | 0.81 | 0.52 |
| EV/Core EBITDA(x) | 2.23 | 2.8 | 2.32 | 1.25 | 0.6 | 0.69 | 1.31 | 34.23 | 26.67 | 28.93 | 12.07 |
| Net Sales Growth(%) | -0.31 | 10.24 | 21.87 | 14.11 | 8.79 | 2.98 | 25.06 | 46.01 | 7.44 | -11.96 | 24.3 |
| EBIT Growth(%) | 11.64 | 14.05 | 33.12 | 28.23 | 19.4 | 13.2 | -1.39 | 37.68 | -2.23 | -35.32 | 129.82 |
| PAT Growth(%) | 561.7 | 74.75 | 56.92 | 63.77 | -4.23 | 10.26 | 61.76 | 18.77 | -28.51 | -69.17 | 581.65 |
| EPS Growth(%) | 532.85 | 74.76 | 56.91 | 75.14 | -5.2 | 19.11 | 58.08 | -2.98 | -27.57 | -74.58 | 730.66 |
| Debt/Equity(x) | 2.68 | 2.4 | 1.98 | 1.29 | 0.86 | 0.89 | 0.89 | 0.34 | 0.27 | 0.29 | 0.18 |
| Current Ratio(x) | 0.96 | 0.92 | 0.97 | 0.91 | 0.97 | 1 | 1.05 | 1.21 | 1.24 | 1.22 | 1.25 |
| Quick Ratio(x) | 0.5 | 0.39 | 0.42 | 0.39 | 0.45 | 0.48 | 0.47 | 0.6 | 0.59 | 0.53 | 0.51 |
| Interest Cover(x) | 1.35 | 1.54 | 2.07 | 2.92 | 2.21 | 2.07 | 2.86 | 2.96 | 2.02 | 1.35 | 3.21 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.04 | 0.04 | 0.06 | 0.05 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 87.87 | 87.87 | 87.87 | 87.87 | 87.87 | 74.36 | 74.36 | 63.94 | 56.94 | 56.94 |
| FII | 0.65 | 0.77 | 0.73 | 0.93 | 1.16 | 4.31 | 4.61 | 14.11 | 21.15 | 21.86 |
| DII | 0.12 | 0.28 | 0.25 | 0.08 | 0.05 | 8.91 | 8.62 | 8.83 | 9.28 | 8.37 |
| Public | 11.35 | 11.07 | 11.15 | 11.12 | 10.92 | 12.42 | 12.41 | 13.13 | 12.64 | 12.83 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 114.2 | 114.2 | 114.2 | 114.2 | 114.2 | 96.64 | 96.64 | 83.1 | 74 | 74 |
| FII | 0.85 | 1 | 0.95 | 1.21 | 1.5 | 5.6 | 5.99 | 18.34 | 27.48 | 28.41 |
| DII | 0.16 | 0.37 | 0.33 | 0.11 | 0.07 | 11.58 | 11.2 | 11.47 | 12.06 | 10.88 |
| Public | 14.76 | 14.39 | 14.49 | 14.45 | 14.2 | 16.14 | 16.13 | 17.06 | 16.43 | 16.68 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 129.97 | 129.97 | 129.97 | 129.97 | 129.97 | 129.97 | 129.97 | 129.97 | 129.97 | 129.97 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +24% | +6% | +17% | +14% |
| Operating Profit CAGR | +90% | +13% | +14% | +17% |
| PAT CAGR | +580% | +15% | +24% | +30% |
| Share Price CAGR | -29% | -24% | — | — |
| ROE Average | +13% | +7% | +12% | +15% |
| ROCE Average | +21% | +15% | +17% | +19% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 87.87 | 87.87 | 87.87 | 87.87 | 87.87 | 74.36 | 74.36 | 63.94 | 56.94 | 56.94 |
| FII | 0.65 | 0.77 | 0.73 | 0.93 | 1.16 | 4.31 | 4.61 | 14.11 | 21.15 | 21.86 |
| DII | 0.12 | 0.28 | 0.25 | 0.08 | 0.05 | 8.91 | 8.62 | 8.83 | 9.28 | 8.37 |
| Public | 12.13 | 12.13 | 12.13 | 12.13 | 12.13 | 25.64 | 25.64 | 36.06 | 43.06 | 43.06 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 114.2 | 114.2 | 114.2 | 114.2 | 114.2 | 96.64 | 96.64 | 83.1 | 74 | 74 |
| FII | 0.85 | 1 | 0.95 | 1.21 | 1.5 | 5.6 | 5.99 | 18.34 | 27.48 | 28.41 |
| DII | 0.16 | 0.37 | 0.33 | 0.11 | 0.07 | 11.58 | 11.2 | 11.47 | 12.06 | 10.88 |
| Public | 15.76 | 15.76 | 15.76 | 15.76 | 15.76 | 33.32 | 33.32 | 46.87 | 55.97 | 55.97 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 129.97 | 129.97 | 129.97 | 129.97 | 129.97 | 129.97 | 129.97 | 129.97 | 129.97 | 129.97 |
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