AWL Agri Business Limited (formerly Adani Wilmar Ltd.) has released its quarterly updates for Q3 FY 2025-26, ending December 31, 2025. The company reported a low single-digit growth in overall volumes during the quarter. This growth was primarily driven by improvements in the Edible Oil and Food & FMCG segments. However, the Industry Essentials segment, which includes castor and de-oiled cakes, experienced a de-growth, impacting overall volume performance. Festive demand was subdued, with trade partners maintaining lean inventory levels. The Food & FMCG business showed a gradual recovery, with branded domestic rice growing in strong double digits, while the overall rice business (excluding G2G sales) saw a marginal decline in low single digits. The wheat flour consumer pack business remained flat, but the business catering to the HORECA segment recorded strong double-digit growth. Other Food & FMCG products, constituting over a third of the segment, grew by more than 30% year-on-year. Alternate channels, including e-commerce and quick commerce, continued their strong growth momentum, with volumes increasing by 42% year-on-year. This channel generated approximately ₹4,800 crore in revenue over the past twelve months, with Quick Commerce showing a record 65% YoY volume growth. Marketing spends towards e-commerce are being rationalized in favor of these alternate channels. HoReCa and branded exports also recorded strong double-digit volume growth. The company expanded its distribution footprint, with total outlets growing by approximately 18% year-on-year to nearly 9.5 lakh outlets. The focus has shifted towards consolidation and improving efficiency, with initiatives in GTM productivity, dealer offtake, and digitization. Micro-fulfilment centers were scaled to enhance reach in rural markets. Marketing efforts were intensified, with five new television campaigns launched, including a pan-India campaign featuring Akshay Kumar and region-specific campaigns for East and South India. The company also introduced a new product, Multi-grain wheat flour. In the Edible Oils portfolio, close to 3% YoY growth was recorded, led by mustard oil and improved traction in palm oil. Sunflower oil sales remained flat due to inflationary pressures. Edible oil prices were relatively stable, with palm oil prices correcting to levels similar to soybean oil. Import of refined soybean oil from SAARC countries impacted competitiveness in certain northern markets. The Food & FMCG business (excluding G2G sales) grew by 3% year-on-year. Growth was moderated by a decline in rice and flat performance in wheat flour, but this was offset by strong growth in Pulses, Besan, Soya Nuggets, Sugar, Poha, and the Personal Care portfolio. Wheat flour sales remained flat, but profitability improved due to pricing hygiene initiatives. E-commerce sales of wheat flour grew by approximately 40% YoY. The Industry Essentials segment saw a volume de-growth of 7% year-on-year due to weak sales of castor and de-oiled cake. GD Foods delivered a strong 18% YoY growth, driven by improved execution and leveraging AWL’s distribution infrastructure. The company's standalone total volume grew by 1% and value by 5% in Q3 FY26. The Board of Directors will approve the consolidated and standalone financial results for the quarter and nine months ended December 31, 2025.
