MoneyWorks4Me

AWL Agri Business Ltd (AWL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543458 NSE: AWL Edible Oil | Small Cap | AWL Agri Business Share Price

₹185.90 0.20 (0.11%)

As on 11-Sep'26 15:50

AWL Agri Business Ltd (AWL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543458 NSE: AWL Edible Oil | Small Cap | AWL Agri Business Share Price

₹185.90 0.20 (0.11%)

As on 11-Sep'26 15:50

Key Metrics
Valuation Multiples
Market Cap
₹24,135 Cr.
Current Price
₹185.9
52-Week Low / High
₹171 / 283
TTM EPS
₹8.9
TTM Sales
₹77,720 Cr.
Book Value per Share
₹82.6
P/E Ratio
20.88
Lower than its 5-year historical median
Industry PE
34.4
Price to Book (P/B)
2.25
Lower than its 5-year historical median
Price to Sales (P/S)
0.31
Lower than its 5-year historical median
EV/EBITDA
8.48
Lower than its 5-year historical median
Dividend Yield
0.54%
Profitability Efficiency
Return on Equity (ROE)
9.99%
Outperforms industry median
Return on Capital Employed (ROCE)
18.52%
Outperforms industry median
Return on Assets (ROA)
4.20%
Operating Profit Margin
3%
Net Profit Margin
1.33%
Gross Profit Margin
2.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
17.24%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-14.76%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-14.85%
Asset Quality
Promoter Holding
56.94%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹10,610 Cr.
Equity
₹130 Cr.
Face Value
₹1
All Time Low / High
₹171.20 / 878.35

AWL Agri Business stock performance

Key Ratios
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Check Before You Invest

Valuation

Undervalued

Price Trend

Semi Strong
Q.1 Is AWL Agri Business Ltd a good quality company?
AWL Agri Business Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does AWL Agri Business Ltd performance compare with that of its Peers?
Q.1 Revenue growth of AWL Agri Business Ltd vs industry peers?
AWL Agri Business Ltd revenue CAGR is 14.28%, compared to the industry median CAGR of 4.81%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of AWL Agri Business Ltd?
Promoters hold 56.94% of the AWL Agri Business Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of AWL Agri Business Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of -19.32% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
AWL Agri Business Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 19.5%22.2%26.9%27.5%21.7%20.2%15.5%10.3%21.4%17.9%-
Value Creation
Index
0.71.01.41.50.90.80.4-0.10.90.6-

Growth Parameters

Sales 22,97326,34728,80229,65737,09052,30255,26249,20661,67772,30874,732
Sales YoY Gr.-14.7%9.3%3%25.1%41%5.7%-11%25.3%17.2%-
Adj EPS 1.63.43.94.55.76.61.94.39.87.48.4
YoY Gr.-108.5%14.6%14.8%25.6%17.2%-70.9%121.8%128%-24.7%-
BVPS (₹) 11.214.517.721.126.856.861.563.772.379.781.9
Adj Net
Profit
1883914485146468602505561,2649541,089
Cash Flow from Ops. -641,6011,6807937411,1925143661,7353,858-
Debt/CF from Ops. -411.41.12.942.14.15.910.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 13.6%14.3%9.4%17.2%
Adj EPS 18.1%5.4%56.2%-24.7%
BVPS24.4%24.3%9%10.3%
Share Price - - -20.1% -28.1%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
16.226.624.423.223.616.53.36.814.39.710.4
Op. Profit
Mgn %
2.93.64.253.63.523.142.93.1
Net Profit
Mgn %
0.81.51.61.71.71.60.51.12.11.31.5
Debt to
Equity
2.11.40.9110.30.30.30.20.1-
Working Cap
Days
6671797867657379727038
Cash Conv.
Cycle
272529384345494942398

Valuation of AWL Agri Business - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales23,19826,47228,79729,65737,09054,15558,18551,22563,67274,731
Operating Expenses + 22,54525,54427,69728,34835,76552,41957,22650,09261,19172,615
Manufacturing Costs1,5051,6611,8051,8721,9901,2461,5831,6691,7741,906
Material Costs19,72722,14924,19024,45131,51848,77152,88545,27556,13766,908
Employee Cost 179256207224322392394421566676
Other Costs 1,1341,4781,4951,8011,9352,0092,3642,7272,7133,125
Operating Profit 6549281,1011,3101,3251,7369591,1332,4822,115
Operating Profit Margin (%) 2.8%3.5%3.8%4.4%3.6%3.2%1.6%2.2%3.9%2.8%
Other Income + 13489122110104172964296238433
Exceptional Items 11000000-540-26
Interest 328298470569407541775749724707
Depreciation 119146182241268309358364395449
Profit Before Tax 3525735716097551,0597892621,6011,367
Tax 11919220520610328423592437377
Profit After Tax 2333823664036527745541711,163990
PAT Margin (%) 1.0%1.4%1.3%1.4%1.8%1.4%1.0%0.3%1.8%1.3%
Adjusted EPS (₹)2.03.63.44.06.46.24.51.19.58.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%12.40%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1,3211,7422,1282,5713,2997,6068,1668,3169,41710,408
Share Capital 114114114114114130130130130129
Reserves 1,2071,6272,0132,4563,1857,4768,0368,1869,28710,278
Debt +2,3882,0251,7412,1612,6752,4302,2262,4151,709723
Long Term Debt4631909651,1461,0244500186392
Short Term Debt1,9251,8357761,0151,6512,3852,2262,4151,523331
Minority Interest0000000003
Trade Payables3,0035,1026,6505,6975,1939,1918,5386,9588,68810,282
Others Liabilities 7137619761,3572,1612,0892,0492,0872,5993,320
Total Liabilities 7,4269,62911,49511,78613,32821,31720,97919,77722,41224,736

Fixed Assets

Net Fixed Assets +1,9502,2732,9543,7583,7034,6014,7934,9215,4817,143
Gross Block2,1722,6363,4994,5614,7535,9496,4056,8397,7059,763
Accumulated Depreciation2223645458031,0511,3481,6121,9192,2242,620
CWIP 704435703255312753248791,060443
Investments 861261482063323623923126241,082
Inventories2,9653,7534,0473,8264,7787,7177,6817,2048,6418,191
Trade Receivables7801,0701,2589211,5152,2191,9311,7832,4162,624
Cash Equivalents 9091,0911,2151,4321,1884,4943,7242,8101,0231,719
Others Assets 6658731,3031,3171,2811,6502,1321,8693,1693,534
Total Assets 7,4269,62911,49511,78613,32821,31720,97919,77722,41224,736
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + -511,6171,6737817261,1986632892,1503,928
PBT 3525735716097551,0597892621,6011,367
Adjustment 1773403917883406347198098951,098
Changes in Working Capital -531790845-495-75-252-681-620-471822
Tax Paid -50-87-134-121-294-244-163-162-299-359
Cash Flow From Investing Activity + -398-941-934-506-484-3,861533142-270-1,066
Capex -201-858-908-631-462-535-674-930-960-824
Net Investments -260-152-12451-49-3,2301,020853514-383
Others 6269987427-96187219175141
Cash Flow From Financing Activity + 459-645-742-8-5312,658-919-847-1,544-1,678
Net Proceeds from Shares 000003,5070000
Net Proceeds from Borrowing 658-48964421918-1,185-1740157251
Interest Paid -198-220-338-404-336-319-467-692-637-573
Dividend Paid 0000000000
Others 063-1,048177-214655-278-155-1,063-1,356
Net Cash Flow 1030-3267-289-5277-4163361,184
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)19.524.9218.8917.1622.2114.27.022.0713.129.99
ROCE (%)17.9421.9926.2126.6920.919.4815.219.5821.2618.52
Asset Turnover Ratio3.163.12.742.562.973.152.772.543.053.21
PAT to CFO Conversion(x)-0.224.234.571.941.111.551.21.691.853.97
Working Capital Days
Receivable Days11.7012.8014.7013.4011.9012.5012.9013.1011.9012.20
Inventory Days45.3046.3049.3048.2042.1041.804852.604540.60
Payable Days33.8040.4040.4027.301310.3013.4019.5018.6017

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AWL Agri Business Ltd FAQs

The current trading price of AWL Agri Business on 11-Sep-2026 15:50 is ₹185.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of AWL Agri Business stood at ₹24,135 Cr

The latest P/E ratio of AWL Agri Business as of 10-Sep-2026 is 22.16.

The latest P/B ratio of AWL Agri Business as of 10-Sep-2026 is 2.27.

The 52-week high of AWL Agri Business is ₹282.9 and the 52-week low is ₹171.2.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of AWL Agri Business is ₹74,732 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that AWL Agri Business Ltd is a good quality company.

The key valuation ratios of AWL Agri Business Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of AWL Agri Business Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About AWL Agri Business Ltd

AWL Agri Business (formerly known as Adani Wilmar) is a leading, fully integrated agri-business company in India, uniquely positioned at the crossroads of food products and industrial agri-derivatives. Over years, it has built strong assets and its flagship brand ‘Fortune’ has become a household name. It has been ensuring that consumers have access to kitchen essentials of the highest quality at affordable prices. It offers packaged staples such as edible oils, wheat flour, rice, pulses (lentils), besan (chick pea flour) and sugar to nourish India in a safe, responsible and sustainable way. Additionally, it offers agri-commodity derived products like oleochemicals and castor oil, which are key ingredients in manufacturing for numerous products.

Business area of the company

The company is one of India’s leading Food and FMCG companies, offering a comprehensive range of essential kitchen staples, including edible oils, wheat flour, rice, pulses and sugar. The company has established itself as a major player in the packaged food sector, expanding its portfolio to include besan, soya chunks, ready-to-cook biryani kits and a diverse range of industry essentials such as oleo chemicals, castor oil derivatives and de-oiled cakes. By forward-integrating its oleochemical base, AWL has built its Home and Personal Care (HPC) portfolio with products like ‘Alife’ soaps and handwashes, and ‘Ozel’ multi-purpose cleaner. The company's flagship brand, ‘Fortune,’ is one of India's largest-selling edible oil and food brands, catering to a broad customer base across various price segments.

Business segments of the company

  • Edible oils: Driven by a fully integrated business model, the company brings superior-quality edible oils that meet the highest standards of purity and nutrition. Its advanced refining processes ensure consistency, freshness, and enhanced shelf life, making them the preferred choice for households and businesses alike. With a commitment to excellence, it delivers oils that enrich every meal.
  • Food essentials: Expanding beyond edible oils, the company entered the staples and food segment, offering high-quality, nutrient-rich food products that are essential for daily nutrition. In 2013, it took a significant step forward by diversifying into food staples, focusing on wheat flour, rice, besan, pulses, and sugar. This was followed by its entry into the high-protein soya-based products segment in 2015, further expanding its commitment to nutrition and quality. Recognising the demand for convenience foods, it introduced ready-to-cook khichdi in 2020, available in Punjabi, Gujarati, and Bengali flavours.
  • Industry essentials: The company offers products to institutional clients that serves as essential ingredients in the production of soaps, detergents, paints and other fast moving consumer goods (FMCG). These products complement its food processing operations and enhance the overall profitability of its business. Its ability to secure one of the leading positions in this market reflects the strength of its business model. Some of its most important offerings, oleochemicals and de-oiled cakes are produced by processing the by-products of its edible oil operations. The company ventured into the castor oil market, by leveraging its extensive experience in procurement, processing and risk management of agri-commodities.
  • FMCG: With a focus on hygiene, protection, and care, its FMCG portfolio is built on a seamless, integrated business model. From personal care to home essentials, its products are designed to meet evolving consumer needs with reliability and innovation. The company delivers everyday solutions that enhance well-being with uncompromised quality.
  • B2B & Out-Of-Home Soltuions: At AWL Agri Business, its commitment to quality extends far beyond the home kitchen. Through its B2B and Out-of-Home (OOH) solutions, the company supplies a wide range of essential food products to institutions, hotels, restaurants, caterers, and food manufacturers. From bulk edible oils and staples specifically tailored for institutions and HoReCa segments, its offerings are trusted by foodservice professionals across the country. With a robust supply chain, consistent quality, and the strength of its agri integration, the company helps businesses serve safe, reliable, and delicious meals, wherever people dine.

Products of the company

Edible oils: 

  • Soyabean Oil
  • Mustard Oil
  • Sunflower Oil
  • Groundnut Oil
  • Blended Oil
  • Olive Oil
  • Palm Oil
  • Rice Bran Oil
  • Cottonseed Oil
Food essentials: 

  • Rice
  • Besan and Sattu
  • Pulses
  • Wheat Flour
  • Sugar
  • Soya Chunks
  • Poha
Industry essentials:

  • Oleochemicals
  • Castor
  • Lecithin
FMCG:

  • Soaps
  • Handwash
B2B & Out-Of-Home Soltuions:

  • Edible Oils & Fats
  • Foods
  • FMCG
  • Specialty Fats
  • Vanaspati

Awards, accreditations and recognitions

  • 2016: Certificate for ‘India’s Most Admired Brand’ for 2016-2017.
  • 2016: ‘Fortune Foods’ was ranked as ‘India’s Most Attractive Edible Oil Brand’ by India’s Most Attractive Brands, 2016 in a study covering 10,000 brands across 16 cities.
  • 2017: ‘Superbrands 2017’ status was conferred upon ‘Fortune’ by the Independent Superbrands Council.
  • 2018: ‘Social Impact Award for Best Public Health Initiative’ – Silver for ‘SuPoshan’, as part of the ACEF Asian Leadership Award, 2018 for Excellence in CSR.
  • 2020: Commendation certificate for ‘Strong Commitment in Food Safety’ for Neemuch unit, as part of the Confederation of Indian Industry (“CII”) Award for Food Safety, 2020.
  • 2020: Commendation certificate for ‘Significant Achievement on Food Safety’ for Unit-1, Krishnapatnam, as part of the CII Award for Food Safety, 2020.
  • 2021: Certificate of Appreciation for contribution towards ‘Healthcare Services to prevent Malnutrition & Anemia’ as part of the Times CSR Awards, 2021 (Gujarat).
  • 2021: Angshu Mallick awarded the Globoil ‘Man of the Year’ award as part of the World’s Leading Edible Oil and Agri Trade Conference, 2021.
  • 2022: Fortune’s Two Digital Campaigns Pet Pujo and Rath Yatra Pratispardha won Gold and Silver Digixx Awards respectively.
  • 2022: Warehouse and Supply Chain Leadership Award 2022 to Adani Wilmar for Best Use of Technology in Logistics by Krypton.
  • 2022: Exception Quality Award by Udaan.
  • 2022: Team Marksment awarded the Brand of the Year recognition to Fortune.
  • 2022: Best Agri Tech Company Award to Adani Wilmar by Dainik Jagran Group at the 2nd Naya Bharat Business Conclave and Awards.
  • 2023: Adani Wilmar Limited was adjudged as the winner in the Outstanding Security Team category of Out Standing Security Performance Awards (# OSPAs ) 2023 India. The event was powered by BW Security World.
  • 2023: Adani Wilmar was awarded by Manufacturing Today for Implementing Best People Practices and Excellence in Workforce Management.
  • 2023: Adani Wilmar’s Bundi and Alwar plants were recognised with National Award for Manufacturing Competitiveness by the International Research Institute for Manufacturing (IRIM).
  • 2023: Utthama Suraksha Puraskara (Safety Award) Awarded to Adani Wilmar’s Mangalore Plant by National Safety Council, Karnataka Chapter.
  • 2023: The Solvent Extractors Association recognised Adani Wilmar’s Mundra Castor plant for highest Castor seed oil cake processing in 22-23.
  • 2024: Gold Category in SKOCH ESG Award, awarded for Clean Logistics at 97th SKOCH Summit.

Major events and milestones

  • 1999: Incorporated in January 1999.
  • 2001: Commissioned edible oil refinery of 600 TPD at Mundra.
  • 2001: ‘Fortune’ brand of edible oils was launched in northern and western India.
  • 2005: Acquisition of the Mantralayam unit.
  • 2006: Acquisition of the Bundi and Haldia units.
  • 2009: Acquisition of the Shujalpur, Nagpur, Chhindwara and Neemuch units.
  • 2010: Acquisition of Rajshri Packagers Limited, Mangalore.
  • 2010: Acquisition of Satya Sai Agroils Private Limited.
  • 2010: Launched ‘King’s’, ‘Bullet’ and ‘Ivory’ brands and ‘Raag Gold’ refined palmolein oil.
  • 2011: Acquisition of Acalmar Oils and Fats Limited.
  • 2011: Launch of ‘Pilaf Gold Pure Basmati Rice’.
  • 2012: Addition of the Alwar and Mundra Castor units.
  • 2013:‘Fortune Rice Bran Health Oil’ was launched.
  • 2014: Commenced production at state-of-the-art oleochemical manufacturing complex at Mundra.
  • 2014: Launch of ‘Fortune Besan’.
  • 2014: Launch of ‘Fortune Pulses’.
  • 2015: Launch of ‘Fortune Soya Nuggets’ and ‘Fortune Basmati Rice’.
  • 2016: Launch of ‘Fortune Vivo Pro Sugar Conscious Oil’.
  • 2018: Launch of ‘Fortune Chakki Fresh Atta’ in Delhi NCR and Uttar Pradesh.
  • 2018: Acquisition of an edible oil refinery from Gokul Refoils and Solvent Limited at Haldia.
  • 2018: Acquisition of an edible oil refinery at Paradip from Cargill India Private Limited.
  • 2018: Acquisition of a rice plant at Ferozepur from Ferozepur Foods Energy Private Limited.
  • 2019: Acquisition of an edible oil refinery from Louis Dreyfus Company India Private Limited at Nellore.
  • 2020: Launch of the new ‘Fortune’ logo.
  • 2020: Launch of ‘Fortune Super Food Khichdi’.
  • 2020: Launch of ‘Alife Soap’ in the personal and skin care category.
  • 2021: Launch of ‘Fortune Sugar’ and ‘Fortune Soya Chunkies’.
  • 2021: Launch of personal care products like handwash and hand sanitizer under the ‘Alife’ range.
  • 2021: Set up ‘Fortune Mart’ stores at various locations.
  • 2021: Acquisition of Adani Wilmar.
  • 2022: Successfully listed on Indian stock exchanges.
  • 2022: Acquired the brand rights of “Kohinoor” in the basmati rice category for the Indian region, strengthening presence in the premium rice market.
  • 2023: Entered the Whole Wheat category.
  • 2024: Celebrated 25 years of the Fortune brand.
  • 2024: Launched Pehli Dhaar KGMO and Sharbati Atta.
  • 2025: Inaugurated an around 80- acre integrated food processing complex in Gohana, Haryana.
  • 2025: Acquired GD Foods, owner of the Tops brand; added sauces, pickles and other cooking aids.
  • 2025: Crossed 50,000 rural towns in distribution.
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