Company notes that the overall volumes were dragged by de-growth in castor and de-oiled cakes classified under the industry essentials segment
Driven by uptick in both edible oil and food and fast-moving consumer goods (FMCG) segment, AWL Agri Business (formerly Adani Wilmar) recorded a low single digit growth on volumes during the quarter ended on 31 December 2025. However, the overall volumes were dragged by de-growth in castor and de-oiled cakes classified under the industry essentials segment.
Festive demand was relatively subdued during the quarter as trade continued to operate with lean inventory levels, the company said in a regulatory filing. While the overall rice business (ex-G2G) marginally declined in low single digits, the branded domestic rice business grew in strong double digits.
The company noted that wheat flour consumer pack business remained flat during the quarter, as demand continues to remain subdued this year. However, wheat flour and refined flour business catering to horeca segment recorded strong double-digit growth during the quarter. Food and FMCG products other than rice and wheat business, contributing over one third of the segment, recorded a strong growth exceeding 30 per cent year-on-year (YoY) in Q3FY26.
Alternate channels (ecommerce, quick commerce and modern trade) continued the strong growth momentum during the quarter, growing at 42 per cent YoY in volumes. The channel recorded a revenue of around Rs 4,800 crore in the last 12 months.
“The strong momentum in channel was led by record 65 per cent YoY volume growth in quick commerce. Most of the products on ecommerce recorded a solid growth, with atta and rice registering a growth exceeding 40 per cent YoY. With the increasing relevance and competition across ecommerce platforms (including quick commerce), marketing spends towards the channel are being gradually rationalised in favour of alternate channel,” the company pointed out.
The company’s distribution footprint continues to expand, with total outlets growing around 18 per cent YoY to reach close to 9.5 lakh outlets. Having significantly scaled distribution over the past three to four years, particularly across rural markets, the focus has now shifted towards consolidation and improving efficiency.
Edible Oil And FMCG Business
The edible oils portfolio recorded close to 3 per cent YoY growth during the quarter. Growth was led by strong performance in mustard oil and improved traction in palm oil, while sunflower oil sales remained flat amid elevated inflationary pressures. Edible oil prices witnessed relatively lower volatility during the quarter, with price trends largely rangebound.
The company noted that sales volumes in south and central India showed improvement. The grammage-led pricing actions in soybean oil continued across the industry, it added.
During the quarter, the Food and FMCG business (excluding G2G sales) grew 3 per cent YoY. Overall growth was moderated by a decline in the rice portfolio and flat performance in wheat flour. However, this was partly offset by strong growth across other categories including pulses, besan, soya nuggets, sugar, poha and the personal care portfolio (soaps and handwash).
In Q3FY26, GD Foods delivered a 18 per cent YoY growth. Ongoing initiatives such as bundling of Tops with Fortune products to drive trials, along with leveraging AWL’s distribution infrastructure, including distribution and stock points, continued to gain momentum and supported growth and cost efficiencies.
