Slides
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Investor Presentation: Q2 & H1FY27 A L Agribusiness
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Safe Harbour Statement This Release / Communication, except for the historical information, may contain statements, including the words or phrases such as ‘expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should’ and similar expressions or variations of these expressions or negatives of these terms indicating future performance or results, financial or otherwise, which are forward looking statements. These forward looking statements are based on certain expectations, assumptions, anticipated developments and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, market growth, intense competition and the pricing environment in the market, consumption level, ability to maintain and manage key customer relationship and supply chain sources and those factors which may affect our ability to implement business strategies successfully, namely changes in regulatory environments, political instability, change in international oil prices and input costs and new or changed priorities of the trade. The Company, therefore, cannot guarantee that the forward-looking statements made herein shall be realized. The Company, based on changes as stated above, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events. The Company does not undertake any obligation to update forward looking statements that may be made from time to time by or on behalf of the Company to reflect the events or circumstances after the date hereof. A\NL Agri business
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Building India’s Trusted Food Platform
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Overall Performance Highlights: Q2 & H1FY27 ₹ 22,202 Cr 26 % YoY 14% ₹ 623 Cr 11 % YoY Revenue from Operations UVG % EBITDA* ₹ 1,347 Cr 25 % YoY 11%₹ 42,250 Cr 22 % YoY Q2FY27 H1FY27 Consolidated figures Underlying Volume Growth (YoY) Underlying Volume Growth (YoY) A\NL Agri business
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Food & FMCG Highlights : Q2 & H1FY27 ₹ 2,216 Cr 32 % YoY ₹ 71 Cr -7 % YoY Revenue from Operations EBITDA* EBITDA % ₹ 175 Cr 2 % YoY ₹ 3,943 Cr 27 % YoY Q2FY27 H1FY27 Consolidated figures *Avg. Margin (8Q): 3-4% *Avg. Margin: 3-4% 3 % 4 % Note: *EBITDA excluding other income A\NL Agri business
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Food & FMCG: Steady Increase in Business Mix – Q2FY27 79% 10% 12% Edible Oil Food & FMCG Industry Essentials 77% 10% 13% Edible Oil Food & FMCG Industry Essentials 60% 19% 21% Edible Oil Food & FMCG Industry Essentials 55% 22% 23% Edible Oil Food & FMCG Industry Essentials Revenue Mix Q2FY26 vs Q2FY27 Volume Mix Q2FY26 vs Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ A\NL Agri business
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Normalized Gross Profit & EBITDA
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Derivative gain / loss were classified under “Cost of Material Consumed” Derivative gain / loss is now classified under “Other Income / Other Expenses” Reconciliation of Normalized Gross Profit and EBITDA Earlier Classification Revised Classification Since Q4FY24 results, there has been a reclassification of Derivative gain / loss Normalized Gross Profit Normalized EBITDA (excl. Other Income) Derivate Impact (A): Loss included in “Other Expenses”; Derivative Impact (B): Gain included in “Other Income” Consolidated figures INR Crs Q2FY27 Q1FY27 Q2FY26 H1FY27 H1FY26 Reported Gross Profit 2,112 2,201 2,049 4,313 3,653 Derivative Impact (A) (other Expenses) -26 67 130 41 0 Derivative Impact (B) (other Income) 0 0 0 0 24 Normalized Gross Profit 2,138 2,134 1,920 4,272 3,677 INR Crs Q2FY27 Q1FY27 Q2FY26 H1FY27 H1FY26 Reported EBITDA 623 725 688 1,347 1,054 Derivative Impact (A) (other Expenses) 0 0 0 0 0 Derivative Impact (B) (other Income) 0 0 -130 0 24 Normalized EBITDA 623 725 559 1,347 1,078 A\NL Agri business
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Segment Highlights A\NL Agri business
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Food & FMCG Highlights: Q2FY27 Segment Commentary Broad-based growth across brands and categories continues to drive the Food & FMCG growth trajectory Revenue: ₹ 2,216 Cr 32% YoY EBITDA: ₹ 71 Cr -7% YoY EBITDA Margin: 3 % • H1FY27 Food & FMCG revenue stood at ₹3,943, delivering EBITDA of ₹175 with a 4% EBITDA Margin. • Fortune and Kohinoor continued to deliver double-digit revenue growth. • Fortune Pulses grew 40%+ YoY, with quarterly revenue surpassing of ₹100 Cr • UVG grew 28% YoY in Q2FY27, driven by strong momentum across categories • Health & Convenience portfolio maintained strong growth, supported by a diversified product range including Soya Nuggets, Sattu, Brown Rice, Biryani Kits, and functional oils. Consolidated figures *Avg. Margin (8Q): 3-4% Note: 8Q Avg. Margin represents the average EBITDA margin over the last 8 quarters. ' l - A\NL Agri business
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GD Foods (Sauces & Condiments): Q2FY27 Segment Commentary Category momentum and portfolio expansion drive Tops growth Revenue Growth YoY 36% Material Margin % Channel-led Growth (Value) • Tops portfolio continued to demonstrate strong double-digit growth momentum. • UVG grew 28% YoY, driven by robust demand across Pickles, Noodles and Sauces. • Channel expansion remained healthy, with General Trade and Alternate Channels growing 24% and 27%, respectively. • Tops product portfolio was strengthened through new launches, including Chilly Oil, Multigrain Choco and No Onion-No Garlic Tomato Ketchup +50% General Trade: +24% Alternate channels: +27% r A\NL Agri business
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-4% 0% 4% 8% Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Food & FMCG Quarterly EBITDA Margins Average long-term EBITDA margins of 3-4%, with continued scaling of the Food & FMCG business expected to drive further improvement over the next five years Standalone figures Quarterly EBITDA Performance Average EBITDA Margin ------ -------------------- ------ - -- - I :····································································································: =--- : ~ ~ h--------------------------------~ A\NL Agri business
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Edible Oil Highlights: Q2FY27 Segment Commentary Market leadership and a strong domestic oils portfolio continue to drive resilient growth Revenue: ₹ 17,067 Cr 23% YoY Volume: 1.1 MMT 5% YoY EBITDA per Ton: ₹ 4,091 6% YoY • Edible Oil volumes grew 5% YoY, while maintaining healthy profitability despite continued volatility in global edible oil prices. • H1FY27 Oil revenue stood at ₹32,532 Cr, with EBITDA/MT of ~₹4,700. • Growth was driven by strong demand for domestic oils, particularly mustard, groundnut and cottonseed. • AWL maintained its market leadership and stable market share despite a challenging operating environment. Consolidated figures r '-- A\NL Agri business
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Industry Essentials Highlights: Q2FY27 Segment Commentary Value-added portfolio expansion continues to support growth and profitability Revenue: ₹ 2,918 Cr 39% YoY Volume: 0.44 MMT 26% YoY EBITDA per Ton: ₹ 4,335 8% YoY • H1FY27 Industry Essential revenue stood at ₹5,775 Cr, with volume growth of 19% YoY and EBITDA/MT of ~₹4,300 • Industry Essentials segment delivered strong Q2FY27 performance, with revenue and volume growing 39% and 26% YoY, respectively. • The Oleochemicals & Specialty Chemicals business, contributing almost 45% of segment revenue, continues double-digit growth while maintaining healthy high-single-digit operating margins. Consolidated figures r A\NL Agri business
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Industry Essentials: Oleochemicals & Specialty Chemicals Double-digit revenue growth, led by growth across GT and Alternate channels Revenue Mix: Q2FY27 Applications Home & Personal Care Agrochemicals Polymer Additives Food Emulsifier/ Ingredients Lubricants 54%46% Castor & others Oleo Revenue Growth: 28% YoY Volume Growth: 11% YoY EBITDA Margin: HSD* Q2FY27 Performance *High-single digit ■ ■ A\NL Agri business
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Our Oleochemistry Advantage Scale leadership India's No. 1 basic oleochemicals player, with the country's largest oleochemical plant at Mundra Backward integration Feedstock from in-house refining, security of supply, lower cost Wilmar parentage Access to the world's largest oleochemicals group: global R&D, procurement leverage and market intelligence Strong R&D & formulation Wilmar R&D in oleochemicals plus in- house application labs Diversified portfolio 20+ SKUs across soap noodles, fatty acids, glycerin and surfactants Five structural strengths that are hard to replicate A\NL Agri business
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Integrated Across the Value Chain From feedstock to formulation-ready ingredients for global customers IN - H O U S E Feedstock • Palm & palm kernel oils • Fatty acid distillates • Vegetable oil by- products • Accessibility to non- palm feedstock L E A D E R S H I P Basic oleochemicals • Soap noodles • Stearic & distilled fatty acids • Glycerine (refined / pharma) • Oleic acid S C A L I N G U P Value-added • Surfactants & esters • Fatty alcohol blends • Customized grades • Specialty ethoxylates 3 0 0 + B 2 B End markets • Home & personal care • Agrochemicals • Polymers Additives • Food Ingredients & Emulsifiers • Lubricants 17 > > > A\NL Agri business
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A Diversified Product Portfolio Products serving a broad set of end-use industries – no single-industry dependence Product family Home & Personal Care Pharma Food Agro- chemicals Paints, Inks & Coatings Lubricants Polymers & Rubber Soap noodles ● Fatty acids (stearic, distilled) ● ● ● ● ● Glycerine ● ● ● ● Oleic Acid ● ● ● ● Ethoxylates ● ● ● ● ● Surfactants & esters ● ● ● ● ● A\NL Agri business
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Market Execution & Innovation rtune· edibleollscndfoods
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Brand & Channel Performance: Q2FY27 Fortune brand: Oil & Foods Kohinoor brand Kings: Oil & Foods 13% YoY Volume Growth in Alternate Channel (E-Com, Q-Com, Modern Trade) Volume Growth in Branded Exports Channel Growth across key brands Growth across Key Channels Low Single Digit Decline Volume Growth YoY 13% Volume Growth YoY 4% Volume growth in HoReCA channel 22% 72% Standalone figures Volume Growth YoY A\NL Agri business Ghar ka khana when cooked tastes best with Fortune
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Quick Commerce: Sustaining Strong Growth Momentum Double-digit revenue growth, led by growth across GT and Alternate channels 46% 82% 113% 73% 86% 65% 46% 56% 44% Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Enhanced digital capabilities, strong execution and sustained investments in Q-commerce continue to drive robust growth momentum Revenue Growth (YoY) 54% Volume Growth (YoY) 44% Volume Share of Q-com (within Alternate channel) 35% Q-Com Volume Growth YoY Trend % I I I I I I I I I A\NL Agri business
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Building Market Leadership across E-com & Q-com Strong market share across key food categories reflect our growing presence and competitive positioning across E-com & Q-com platforms Nuggets: >47% Market Share of Top 5 Product Categories across E-com & Q-com Edible Oil: >30% Besan: >29% Sugar: >22% Maida: >17% A\NL Agri business refined wheat flour
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General Trade Distribution: Q2FY27 Expanding direct distribution reach and deepening rural penetration continue to strengthen AWL’s distribution network and competitive advantage Total Reach of AWL (As per Nielsen) > 26 Lac Outlets Direct Reach 7.8 8.2 8.6 8.7 8.9 9.5 9.6 9.7 9.8 Sept 24 Dec 24 Mar 25 June 25 Sep 25 Dec 25 Mar 26 Jun 26 Sep 26 37,604 43,610 50,290 55,000 58,000 60,000 63,000 63,000 63,000 Sept 24 Dec 24 Mar 25 June 25 Sep 25 Dec 25 Mar 26 Jun 26 Sep 26 Direct Reach: Outlets (in Lacs) Rural Town Coverage Direct Reach: Direct reach increased by 7,000+ on QoQ basis > 9.77 Lac+ Outlets Rural Coverage 63,000+ rural towns r r A\NL Agri business
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Gradually Building a Health & Convenience-Focused Food Portfolio 1 Better-for-You Oils 3 Health-focused Building the portfolio, layer by layer, from everyday staples to premium health innovation Everyday Convenience 3 2 Functional Oil Xpert Range Convenience Food Biryani kits, Poha, Brown Rice, Sattu & more Health & Wellness Soya chunks & Premio Cold-pressed oils • A\NL Agn business
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New Product Launches: Q2FY27 1 Bringing exciting new experiences to everyday essentials Multigrain Choco Flakes 1 Chilli Oil 1 Tomato Ketchup No Onion No Garlic with Sendha Namak I I ~ __J A\NL Agri business TOMATO KETCH NO ONION. NO Will<
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Macro Environment
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Macro-Environment Food Inflation Crosses 7% • Food 7.74%; CPI 5.54% (Sep’ 2026) • Squeezes mass-market demand Step up inspections and sampling Govt. Steps Up Scrutiny • Checks on oil, spices, other processed foods / health claims • Loose, unbranded oil loses share • Beneficial for player like AWL 5.5 5.2 5.2 5.5 Oct-25 Dec-25 Aug-26 Oct-26 Central Bank Action Rate hiked by 25 bps • RBI increases repo to 5.50% (7-Oct 2026) • Stance: calibrated tightening Recorded below-normal & uneven monsoon Rainfall deficit of 13% • ~13% below-normal rainfall across India • Rabi crop yields may face pressure • Risk of higher food inflation 4.4 5.24.8 5.75.5 7.4 CPI Food Inflation Jul-26 Aug-26 Sep-26 r ■ ■ ■ A\NL Agri business
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Edible Oil: Average Monthly Price Trend 1,095 1,151 1,164 1,234 1,254 1,285 1,107 1,191 1,195 1,182 1,281 1,289 1,314 1,219 1,216 1,264 1,293 1,460 1,496 1,432 Apr 25 May 25 Jun 25 Jul 25 Aug 25 Sep 25 Oct 25 Nov 25 Dec 25 Jan 26 Feb 26 Mar 26 Apr 26 May 26 Jun 26 Jul 26 Aug 26 Sep 26 Palm Soya Sun Edible Oil Trend (INR per MT) Source: Solvent Extractor’s Association ..... ..... ..... T T T T A\NL Agri business
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Wheat Price Trend Wheat Price (INR per MT) SND Shortage Govt. OMSS Qty Increase Source: Internal - Indore Mandi Prices (from Wheat sourcing desk) New Crop Arrival 20,000 22,000 24,000 26,000 28,000 30,000 32,000 34,000 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY25 FY26 FY27 A\NL Agri business
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Annexure
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Consolidated P&L Snapshot and KPIs: Q2 & H1FY27 Consolidated figures Particulars Q2FY27 Q1FY27 Q2FY26 QoQ % YoY % H1FY27 H1FY26 YoY % Volume (MMT) 1.9 1.7 1.7 13% 14% 3.6 3.3 11% Revenue 22,202 20,048 17,605 11% 26% 42,250 34,663 22% Gross Profit 2,138 2,134 1,920 0% 11% 4,272 3,677 16% EBITDA (incl. OI) 692 762 609 -9% 14% 1,454 1,181 23% EBITDA (excl. OI) 623 725 559 -14% 11% 1,347 1,078 25% PBT 344 478 330 -28% 4% 822 647 27% PAT 239 351 245 -32% -2% 591 483 22% A\NL Agri business
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KPIs Trend: Q2FY27 Quarterly – Gross Profit Trend in INR Crores Quarterly – Operating EBITDA Trend 1,807 2,149 1,724 1,757 1,920 2,018 2,340 2134 2138 Sept 24 Dec 24 Mar 25 Jun 25 Sep 25 Dec 25 Mar 26 Jun 26 Sep 26 Steady Gross Profit and EBITDA underscore the resilience of AWL's long-term growth trajectory in INR Crores 615 792 448 519 559 637 628 725 623 Sept 24 Dec 24 Mar 25 Jun 25 Sep 25 Dec 25 Mar 26 Jun 26 Sep 26 Consolidated figures ------~ --- ------ ------ --- --- ------I I --- --- -------: --- ------ --- I ---~ -- --- I I I I C) I I I I I I I I I I I C) I I I I I I I C) I I I C) I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I --- --- --- --- --- --- --- --- --- --- --- A\NL Agri business
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Segment-wise Profitability (all figures in INR Crores) Consolidated figures Segment EBITDA (Excluding Other Income ) Q2FY27 Q2FY26 H1FY27 H1FY26 FY26 Edible Oil (Including gain / loss on Derivative ) 435 390 959 762 1,884 Food & FMCG 71 76 175 171 315 Industry Essentials 191 140 367 260 428 Unallocable -74 -48 -153 -115 -284 Total 623 559 1,347 1078 2,343 A\NL Agri business
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Segment Results: Q2FY27 (all figures in crores, except stated otherwise) Consolidated figures Segment Volume Volume (MMT) Q2FY27 Q1FY27 Q2FY26 QoQ % YoY % H1FY27 H1FY26 YoY % Edible Oil 1.1 1.0 1.0 9% 5% 2.0 2.0 3% Industry Essentials 0.4 0.3 0.3 30% 26% 0.8 0.7 19% Segment Revenue Revenue (Cr) Q2FY27 Q1FY27 Q2FY26 QoQ % YoY % H1FY27 H1FY26 YoY % Edible Oil 17,067 15,465 13,828 10% 23% 32,532 27,242 19% Food & FMCG 2,216 1,726 1,681 28% 32% 3,943 3,095 27% Industry Essentials 2,918 2,857 2,096 2% 39% 5,775 4,326 34% Total 22,202 20,048 17,605 11% 26% 42,250 34,663 22% Segment Result Particulars Q2FY27 Q1FY27 Q2FY26 QoQ % YoY % H1FY27 H1FY26 YoY % Edible Oil 184 306 171 -40% 7% 489 362 35% Food & FMCG 38 72 56 -47% -33% 110 132 -16% Industry Essentials 164 149 131 10% 25% 313 231 35% PBT before Unallocable & exceptional items 386 527 358 -27% 8% 912 725 26% Less: Finance Cost 8 6 6 25% 24% 14 14 6% Less: Unallocable Expenses 46 61 39 -25% 17% 107 88 22% Less: Exception Items 0 0 0 - - 0 0 - Less: Share of Profit from JV and Associates 11 20 17 -42% -34% 31 23 32% PBT 344 478 330 -28% 4% 822 647 27% A\NL Agri business
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Segment ROCE: LTM Sep’2026 As the Food business matures, ROCE in expected to reach 25%+ *Capital Employed = Equity + Total Debt + Trade Credits - cash & cash equivalent. #Unallocable primarily includes GST input credit and capital advances (for capex) **This also includes buildings at integrated plant in Gohana Segment ROCE: LTM Sep 2026 Edible Oil Food & FMCG Industry Essentials Unallocable Total Rev / Capital Employed - A 5.0x 2.1x 3.6x n.a. 4.0x EBIT % - B 2.8% 2.8% 4.5% n.a. 2.5% ROCE % [A x B] 14% 6% 17% n.a. 10% EBIT 1,732 181 455 -358 2,010 Segment Revenue 62,414 6,576 10,027 0 79,016 Fixed Assets 3,237 1,734 1,204 138 6,313 Capital Work-in progress (CWIP) 214 67 328 46 655 Intangible 0 126 0 7 134 NWC 10,049 1,665 1,519 -77 13,157 Others Assets, Net -921 -390 33 1,223 -55 Capital Employed 12,365 3,135 2,756 1,292 19,548 ▪ Food business in investment phase, targeting 20-25%+ ROCE at Company level as it matures. ▪ Additionally, inventory gets largely funded by working capital debt, resulting in higher ROE Standalone figures AVVL Agri business
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Segment ROCE & Capital Employed: 5 Year trend Capital Employed INR Crores FY23 FY24 FY25 FY26 Sep’2026 Edible oil 8,541 6,647 9,050 7,926 12,365 Food & FMCG 1,684 2,867 2,449 2,841 3,135 Industry Essentials 1,759 1,646 1,670 2,325 2,756 Unallocable 408 547 856 1,256 1,292 Total 12,392 11,706 14,025 14,347 19,548 ` ROCE % INR Crores FY23 FY24 FY25 FY26 LTM Sep’2026 Edible oil 13% 13% 23% 20% 14% Food & FMCG 4% 5% 1% 7% 6% Industry Essentials 20% 6% 17% 16% 17% Unallocable -61% -50% -42% -25% -28% Total 10% 7% 15% 13% 10% ` EBIT INR Crores FY23 FY24 FY25 FY26 LTM Sep’2026 Edible oil 1,124 846 2,118 1,547 1,732 Food & FMCG 71 143 25 200 181 Industry Essentials 352 103 282 362 455 Unallocable -249 -272 -357 -311 -358 Total 1,297 819 2,068 1,798 2,010 Fixed Assets INR Crores FY23 FY24 FY25 FY26 Sep’2026 Edible oil 2,960 3,227 3,298 3,188 3,237 Food & FMCG 633 1,038 1,299 1,690 1,734 Industry Essentials 654 631 733 936 1,204 Unallocable 76 96 385 187 138 Total 4,323 4,992 5,715 6,001 6,313 ` ` • Limited investment required in Edible Oil business in the recent years, despite continuous growth • Allocating capital to the Food business, to support its growth Standalone figures Net Working Capital (NWC) INR Crores FY23 FY24 FY25 FY26 Sep’2026 Edible oil 5,458 3,536 6,277 5,401 10,049 Food & FMCG 886 1,757 1,155 1,123 1,665 Industry Essentials 991 947 881 1,290 1,519 Unallocable -55 -65 -44 -53 -77 Total 7,280 6,175 8,270 7,761 13,157 ` A\NL Agri business
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Legal Disclaimer The information contained in this presentation is provided by AWL Agri Business Limited (together with its subsidiaries, the “Company” or “AWL”) to you solely for your reference and for information purposes only. This presentation is highly confidential and is being given solely for your information and your use, and may not be retained by you or copied, reproduced or redistributed to any other person in any manner nor any part thereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or (iii) re-circulated, redistributed, passed on, published in any media, website or otherwise disseminated, to any other person, in any form or manner, in part or as a whole, without the prior written consent of the Company. Any unauthorized use, disclosure or public dissemination of information contained herein is prohibited. This presentation does not purport to be a complete description of the markets’ conditions or developments referred to in the material. Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements,” including those relating to general business plans and strategy of AWL Agri Business Limited Limited (“AWL”), their future outlook and growth prospects, and future developments in their businesses and their competitive and regulatory environment, and statements which contain words or phrases such as ‘will’, ‘expected to’, etc., or similar expressions or variations of such expressions. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in their business, their competitive environment, their ability to implement their strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in India. This presentation is for private circulation only and does not constitute a prospectus, offering circular or offering memorandum or an offer, or a solicitation of any offer, to purchase or sell, any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of AWL’s shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under, or in relation, to the shares shall be deemed to constitute an offer of or an invitation by or on behalf of AWL. AWL, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this presentation, unless otherwise specified is only current as of the date of this presentation. This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation should not be used as a basis for any investment decision or be relied upon in connection with, any contract, commitment or investment decision whatsoever. This presentation does not constitute financial, legal, tax or other product advice. Potential investors must make their own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as they may consider necessary or appropriate for such purpose. The statements contained in this presentation speak only as at the date as of which they are made, and the Company expressly disclaims any obligation or undertaking to supplement, amend or disseminate any updates or revisions to any statements contained herein to reflect any change in events, conditions or circumstances on which any such statements are based. Neither the Company nor any of its respective affiliates, its board of directors, its management, advisers or representatives, including any lead managers and their affiliates, or any other persons that may participate in any offering of securities of the Company, shall have any responsibility or liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. AWL assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent development, information or events, or otherwise. Unless otherwise stated in this document, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. AWL may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. Certain statements made in this presentation may be “forward looking statements” for purposes of laws and regulations of India and other than India. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition, general business plans and strategy, the industry in which the Company operates and the competitive and regulatory environment of the Company. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “projects,” “targets,” or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward-looking statements as a result of various factors and assumptions, including future changes or developments in the Company’s business, its competitive environment, information technology and political, economic, legal, regulatory and social conditions in India, which the Company believes to be reasonable in light of its operating experience in recent years. The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of the Company. Please note that the past performance of the Company is not, and should not be considered as, indicative of future results. No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of AWL.. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of its should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration therefrom. This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner. This presentation contains translations of certain Rupees amounts into U.S. dollar amounts at specified rates solely for the convenience of the reader. Investor Relations Mr. Abhik Das Head - Investor Relations Abhik.Das@awl.in +91 79 2645 8774 Mr. Kshitiz Singh Investor Relations Kshitiz.Singh@awl.in +91 79-2645 5374 Mr. Harshwardhan Gulhane Investor Relations Harshwardhan.Gulhane@awl.in +91 79-2645 5400 • ii A\NL Agri business
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Thank You