AWL Agri Business, formerly Adani Wilmar, saw its shares fall to a fresh 52‑week low of ₹159.65 on Wednesday, October 28, after reporting September‑quarter earnings. The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) slipped 10% to ₹623 crore, while the EBITDA margin contracted by 110 basis points to 2.8%. The decline pushed the stock down 9.5% from its previous close.

Net profit for the July‑September period fell 2.3% to ₹239 crore, compared with ₹245 crore in the same period last year. The modest decline was attributed to higher operating expenses and a one‑time tax charge. The company noted that the drop in profit was largely due to a minimum corporate tax computed on revenue from its Bangladesh subsidiary under local regulations, which increased consolidated tax expenses during the quarter.

Total expenses rose 27.5% to ₹21,939 crore from ₹17,213 crore a year earlier, while revenue from operations grew 26% to ₹22,202 crore against ₹17,605 crore a year ago. Food and FMCG revenue increased 32% annually to ₹2,216 crore, with an EBITDA margin of 3.2%, matching FY27 guidance. Industry essentials delivered 26% volume growth, buoyed by higher contributions from oleochemicals, specialty chemicals and a health and convenience portfolio that crossed ₹1,400 crore in LTM revenues.

The edible oils segment recorded 5% year‑on‑year volume growth, with EBITDA of approximately ₹4,100 per metric ton, aligning with management’s guidance of ₹4,000–4,500 per ton. The company highlighted that its diversified portfolio and consistent execution across businesses underpinned the 26% revenue growth and 14% underlying volume growth reported in Q2 FY27. Shrikant Kanhere, MD & CEO, praised the Food & FMCG business as a key growth driver, noting revenue of ₹2,200 crore and profitability in line with expectations.

At 11:43 am, AWL Agri Business shares traded 8.11% lower at ₹162, underperforming the NIFTY500 index which was down 0.35%. The 52‑week low reflects the company’s recent earnings decline and higher tax expense, while the 26% revenue increase and 32% growth in Food & FMCG revenue provide a counterbalance. Investors will watch subsequent guidance and the impact of the Bangladesh subsidiary’s tax treatment on future profitability.