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AWL Agri Business | The edible oil major expanding by putting staples on the "Fortune" shelf

2026.09.19

Article summary

AWL Agri Business (formerly Adani Wilmar), founded in 1999 and headquartered in Ahmedabad, is an edible oil and staple foods maker. Consolidated revenue for FY2026 (year ended March 2026) was ₹74,731 crore (1 crore = 10 million rupees), up from ₹63,672 crore the prior year, but net profit fell about 15% year on year. Its flagship is the "Fortune" edible oil brand, and it also handles wheat flour, rice, and pulses. Since India imports much of its edible oil, international prices and import tariffs feed directly into procurement costs, and how it manages inventory determines profit. The company changed its name in February 2025, and Adani's full exit from the joint venture, following the completion of its share sale, came in November of the same year.

This article is based on what we could verify As of September 19, 2026 This page is based on the disclosures and news reports from each company that we were able to confirm as of that date. Amounts in the text follow the notation commonly used in India, with ₹1 crore = 10 million rupees, and yen figures are approximations calculated at a little over 1.7 yen to the rupee. Store counts, funding raised, and results at Indian companies change over short periods, so when making a business decision, please check the latest information in primary sources such as each company's own announcements.

AWL Agri Business is built around the edible oil brand "Fortune" and also handles staples such as wheat flour, rice, and pulses. It began as "Adani Wilmar," a joint venture between the Adani Group and Singapore's Wilmar, and took its current name after Adani exited.

Company profile

Item	Details
Legal name	AWL Agri Business Limited (formerly Adani Wilmar Limited)
Year founded	1999
Headquarters	Ahmedabad (Gujarat)
Consolidated revenue	₹74,731 crore (FY2026, the year ended March 2026; about 1.30 trillion yen). FY2025 was ₹63,672 crore
Net profit	FY2026 net profit down about 15% year on year
Main brands	Fortune, King's, Raag, and others
Listing	Listed on the BSE and NSE

Edible oil profit moves with prices and tariffs

It handles almost every edible oil used in India: sunflower, groundnut, mustard, rice bran, soybean, and cottonseed. India's domestic production can't keep up with its consumption of edible oil, so it imports much of its palm and sunflower oil.

As a result, swings in international prices and import tariffs feed straight through to procurement costs. When the government lowers tariffs to control inflation, buying gets cheaper; when it raises them, the opposite happens. This is a business where the decision of how much inventory to hold, and when, determines profit. In FY2026, revenue grew to ₹74,731 crore, but net profit fell about 15% year on year.

Putting staples on the oil shelf

Edible oil is a product every kitchen uses, and every retailer stocks it. The company uses that distribution reach to move staples such as wheat flour (atta), rice, and pulses (dal) onto the same shelves. All of these are used daily, in categories where brand choice usually doesn't matter much, so this brings branding into that space.

The company's name changed from Adani Wilmar to AWL Agri Business in February 2025, and Adani's full exit from the joint venture, following the completion of its share sale, came in November of the same year. Wilmar now leads the company.

Points for Japanese companies

When sourcing rice or pulses for Japan, talking to a large player like this, rather than a local collection agent, makes it easier to stabilize specifications and volume. The company handles both rice milling and flour milling in-house.

It's also a potential partner for sourcing commercial-use oil locally. When setting up a food factory or restaurant business in India, oil is needed in volume and its price moves with the market, so it's necessary to secure multiple suppliers.