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Swing Capital

AWL Agri Business Ltd

NSE: AWL BSE: 543458FMCG

Incorporated in 1999, Adani Wilmar Ltd deals in edible oil and food and other FMCG products. Adani has exited the joint venture in FY24 to focus on other segments. AWL Agri Business is the new name decided in online voting.[1]

₹195
52W: ₹171 — ₹286
PE 25.3 · Book ₹79.6 · +145% vs book
Market Cap₹25,344 Cr
Stock P/E25.3Price to Earnings
ROCE17.8%Return on Capital
ROE10.2%Return on Equity
Div. Yield0.51%Face Value ₹1

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.

Weaknesses

  • −Company has a low return on equity of 9.37% over last 3 years.
  • −Company's cost of borrowing seems high
  • −Promoter holding has decreased over last 3 years: -31.0%

Shareholding Pattern

Promoters56.94%
FIIs21.86%
DIIs8.37%
Public12.38%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters87.88%87.88%87.88%74.36%▼13.574.36%63.94%▼10.456.94%▼7.056.94%
FIIs0.73%0.95%▲0.21.16%▲0.24.31%▲3.14.61%▲0.314.11%▲9.521.15%▲7.021.86%▲0.7
DIIs0.25%0.07%▼0.20.05%▼0.08.9%▲8.88.62%▼0.38.82%▲0.29.28%▲0.58.37%▼0.9
Public11.15%11.11%▼0.010.91%▼0.212.08%▲1.212.08%12.78%▲0.712.3%▼0.512.38%▲0.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales12,44012,68813,73513,99416,47017,48716,74617,12617,85420,582
Expenses11,91012,35613,12013,37115,68817,08616,41516,46317,34220,104
Operating Profit530333616624782401331662512478
OPM %4%3%4%4%5%2%2%4%3%2%
Net Profit247156324326409157225229260268
EPS ₹1.91.22.492.513.151.211.731.7622.06

AI Insights

Revenue Trend

Mar 2026 revenue at ₹72,308Cr, up 17.2% YoY. OPM at 3%.

Debt Position

Borrowings at ₹976Cr. Debt-to-equity ratio: 0.10x. Healthy balance sheet.

Capex Cycle

CWIP at ₹431Cr (7% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 8.37% (+8.31pp change). FIIs: 21.86% (+20.72pp change). Promoters hold 56.94%.

Margin & Efficiency

ROCE improving from 0% (Mar 2014) to 18% (Mar 2026). Working capital days: 11.

Valuation

PE 25.3x with 17.8% ROCE. Price is 145% above book value of ₹79.6. Dividend yield: 0.51%.

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