AWL Agri Business (AWL) Q4 23/24 earnings summary

Executive summary

• Consolidated revenue for FY24 was ₹51,262 crore, down 12% YoY due to lower commodity prices, despite 10% YoY volume growth across all segments.

• PAT declined to ₹148 crore from ₹582 crore in FY23, mainly due to inventory losses and hedge misalignment in H1 FY24; profitability normalized in H2.

• Food & FMCG segment revenue grew 23% YoY to ₹4,994 crore, with 16% volume growth; branded food sales up 41% YoY.

• Edible oil volumes grew 9% YoY, with branded domestic sales up 15% YoY; market share in refined oil consumer packs reached 19%.

• Industry essentials segment saw 7% volume growth, led by oleochemicals and castor oil.

Financial highlights

• Revenue: ₹51,262 crore in FY24 vs ₹58,185 crore in FY23 (down 12% YoY).

• EBITDA: ₹1,135 crore in FY24 vs ₹1,661 crore in FY23 (down 32% YoY).

• PAT: ₹148 crore in FY24 vs ₹582 crore in FY23.

• EPS: ₹1.14 in FY24 vs ₹4.48 in FY23.

• Operating cash flow: ₹366 crore in FY24.

• HORECA revenue crossed ₹400 crore (3x YoY); branded exports up 72% YoY.

Outlook and guidance

• Targeting to double packaged foods volume in three years and maintain double-digit growth in packaged oils.

• Focus on expanding rural reach to 50,000 towns by FY25 and direct retail outlet reach to 1 million in three years.

• Expecting continued strong growth in FY25, supported by stable prices, robust urban demand, and rural revival.