AWL Agri Q3: Food & FMCG recover but industry essentials dampen growth

AWL Agri Business Ltd reported low single-digit volume growth for the quarter ended December 31, 2025 (Q3FY26), led by higher volumes in the edible oil and food & FMCG segments, even as overall performance

was impacted by a decline in castor and de-oiled cakes under the industry essentials segment. The company said festive demand remained muted during the quarter as trade operated with lean inventory levels.

Food & FMCG division recovers 

The company's exchange filing stated that the food & FMCG business showed gradual recovery, supported by improved offtake and interventions in the rice business. While the overall rice business (excluding G2G) declined marginally in low single digits, the branded domestic rice segment grew in strong double digits.

Wheat flour consumer packs remained flat amid subdued demand, though wheat flour and refined flour supplied to the HoReCa (hotels, restaurants, cafes) segment posted strong double-digit growth. Food & FMCG products other than rice and wheat, accounting for over one-third of the segment, recorded over 30% YoY growth during the quarter.

E-commerce, quick commerce sustain strong momentum

Alternate channels, including e-commerce, quick commerce and modern trade, continued to perform strongly, with volumes rising 42% year-on-year. These channels generated around ₹4,800 crore in revenue over the last 12 months, driven by a 65% YoY surge in quick commerce volumes.

Online sales of atta and rice grew over 40% YoY, while HoReCa and branded exports of edible oil and food products also recorded strong double-digit volume growth, the company said.

Shares of AWL Agri Business Ltd ended lower on Monday, January 5, by 1% at ₹233.90 on the NSE.

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