In Q1FY25, AWL’s revenue stood at INR 14,686 Mn, up 9.6% YoY/+7.0% QoQ, which slightly missed our estimate by 1.3%. The Company's sales volume surged notably in Edible Oils +12.0% YoY/+0.7% QoQ and Foods +42.0% YoY/+16.6% QoQ), buoyed by the expanded retail presence.