Agarwal Industrial Corporation Ltd.

•

aicltd.inBSE: 531921NSE: AGARIND

Market Cap₹ 648 Cr.

Current Price

High / Low₹ 1,006 / 360

Stock P/E15.9

Book Value₹ 468

Price to Book0.79

Dividend Yield0.76 %

ROCE8.0 %

ROE6.6 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Ancillary Infra - Bitumen & Allied products: 75.8% • Petrochemicals: 16.6% • Logistics: 3.8%

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

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PROS

Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.67x)
Company has a consistent dividend-paying track record
Company maintains a comfortable, low leverage position

CONS

Recent results are weak - TTM profit is down 53.1% versus prior year
A large part of profit comes from other income (32.3% of PBT)
Company has delivered a poor profit growth of 1.5% over past five years
Growth is decelerating - 3Y profit CAGR (-22.1%) trails the 5Y trend (1.5%)
Inventory has been piling up - inventory days up from 25 to 35
Though reporting repeated profits, the company pays out little dividend (11.3%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsCrude OilPetrochemicals

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SPLPETRO	829.65	32.18	15600.85	1.27	2375.69	2795.42	17145.15	1122.99	33.63	19.39
2.	RAIN	216.85	13.58	7293.66	0.46	340.99	310.85	5167.16	17.40	8.75	18.66
3.	TNPETRO	132.50	8.38	1192.12	1.13	80.11	127.26	780.15	68.56	8.95	15.45
4.	KOTHARIPET	143.21	88.33	842.74	0.70	17.02	-3.16	146.50	-8.82	28.75	14.91
5.	AGARIND	433.45	15.86	648.35	0.76	10.35	-20.58	433.31	-27.00	7.99	6.89

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	629	232	488	776	708	326	542	823	594	245	408	405	433
	587	205	444	716	648	290	489	770	557	217	388	373	422
Operating Profit	42	27	44	60	60	35	53	54	36	28	21	32	11
OPM %	6.60%	11.57%	9.08%	7.75%	8.50%	10.80%	9.83%	6.50%	6.09%	11.44%	5.05%	8.01%	2.50%
	1	2	1	2	2	2	2	5	2	5	5	6	3
Interest	4	4	5	8	8	6	7	9	8	7	7	5	5
Depreciation	6	7	7	10	10	10	15	12	13	13	13	13	14
Profit before Tax	32	18	33	44	44	20	34	37	17	14	5	20	14
Tax %	13.92%	11.89%	17.23%	12.84%	11.18%	8.57%	18.24%	16.99%	21.65%	11.71%	39.87%	22.83%	23.82%
Net Profit	0	0	0	0	39	18	28	31	13	12	3	16	10
	18.43	10.71	18.47	25.41	26.07	12.33	18.52	20.42	8.71	8.02	1.87	10.53	6.92

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	297	414	531	787	904	1,598	2,015	2,125	2,399	1,652	1,492
	271	383	494	741	832	1,493	1,879	1,952	2,197	1,535	1,400
Operating Profit	26	31	37	46	71	106	136	173	202	117	92
OPM %	8.77%	7.39%	7.00%	5.88%	7.90%	6.62%	6.73%	8.14%	8.43%	7.10%	6.16%
	1	1	1	3	2	4	9	5	11	18	19
Interest	7	9	9	9	10	12	12	21	30	28	25
Depreciation	6	8	8	9	14	20	23	30	48	52	53
Profit before Tax	14	15	20	31	49	78	110	127	135	55	52
Tax %	36.92%	29.87%	33.62%	17.81%	16.76%	17.86%	15.95%	14.13%	14.15%	21.15%	21.71%
Net Profit	9	10	13	26	41	64	92	109	116	44	41
EPS	10.63	10.10	13.11	24.91	39.51	51.10	63.78	73.02	77.34	29.13	—
Dividend Payout %	17.00%	14.97%	13.73%	6.02%	4.56%	4.15%	4.05%	4.11%	4.27%	11.33%	—

COMPOUNDED SALES GROWTH

10 Years:: 19%
5 Years:: 13%
3 Years:: -6%

COMPOUNDED PROFIT GROWTH

10 Years:: 20%
5 Years:: 1%
3 Years:: -22%

STOCK PRICE CAGR

10 Years:: 9%
5 Years:: 6%
3 Years:: -23%
1 Year:: -53%

RETURN ON EQUITY

10 Years:: 17%
5 Years:: 21%
3 Years:: 17%
Last Year:: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	10	10	10	10	10	13	15	15	15	15
	96	108	123	147	186	277	389	496	612	674
	74	96	77	90	145	166	152	294	352	264
Trade Payables	2	14	7	43	34	55	164	217	257	148
	19	10	10	10	21	32	30	97	108	101
Total Liabilities	201	238	227	300	395	543	750	1,120	1,344	1,202
	44	62	57	102	159	219	341	589	690	717
Capital Work in Progress	8	0	1	3	1	3	7	0	16	31
	6	9	9	7	6	12	26	36	34	38
	17	37	27	28	48	65	116	128	196	118
	0	0	0	0	0	0	0	266	270	152
Cash & Bank	6	5	3	8	32	50	34	62	53	73
	120	126	130	152	149	194	226	40	85	73
Total Assets	201	238	227	300	395	543	750	1,120	1,344	1,202

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-8	14	34	57	56	78	175	112	100	235
Cash from Investing	-21	-20	-4	-54	-44	-70	-158	-276	-157	-89
Cash from Financing	27	10	-27	7	21	19	-15	178	40	-128
	-6	-1	-1	2	27	14	-17	13	-18	18

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	57.20	57.20	57.20	57.20	57.20	57.20	57.20	57.20	57.20
	5.97	5.51	6.26	5.98	6.04	5.91	5.05	4.69	2.37
	0.48	0.38	0.38	0.54	0.01	0.01	0.01	0.01	0.06
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	36.34	36.91	36.15	36.28	36.76	36.88	37.75	38.10	40.38

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Copy of Newspaper Publication

2026-09-01 - Agarwal Industrial Corporation Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-29

General Updates

2026-08-29 - Agarwal Industrial Corporation Limited has informed the Exchange about General Updates

2026-08-29

Shareholders meeting

2026-08-29 - Agarwal Industrial Corporation Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026

2026-08-27

Copy of Newspaper Publication

2026-08-27 - Agarwal Industrial Corporation Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-18

Copy of Newspaper Publication

2026-08-18 - Agarwal Industrial Corporation Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13

Record Date

2026-08-13 - Agarwal Industrial Corporation Limited has informed the Exchange that Record date for the purpose of Dividend is 17-Sep-2026.

2026-08-13

Amendment to AOA/MOA

2026-08-13 - Agarwal Industrial Corporation Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.

2026-08-13

Outcome of Board Meeting

2026-08-13 - Approval of Un-audited Financial Results (Standalone & Consolidated) for the quarter ended June 30, 2026 and other agenda

2026-07-10

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-10 - Agarwal Industrial Corporation Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

News

Recent coverage and analyst commentary for AGARIND

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Agarwal Industrial Corporation Ltd.

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Free 5nance Account

Name

SPLPETRO

829.65

32.18

15600.85

1.27

2375.69

2795.42

17145.15

1122.99

33.63

19.39

RAIN

216.85

13.58

7293.66

0.46

340.99

310.85

5167.16

17.40

8.75

18.66

TNPETRO

132.50

8.38

1192.12

1.13

80.11

127.26

780.15

68.56

8.95

15.45

KOTHARIPET

143.21

88.33

842.74

0.70

17.02

-3.16

146.50

-8.82

28.75

14.91

AGARIND

433.45

15.86

648.35

0.76

10.35

-20.58

433.31

-27.00

7.99

6.89

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

629

232

488

776

708

326

542

823

594

245

408

405

433

587

205

444

716

648

290

489

770

557

217

388

373

422

Operating Profit

OPM %

6.60%

11.57%

9.08%

7.75%

8.50%

10.80%

9.83%

6.50%

6.09%

11.44%

5.05%

8.01%

2.50%

Interest

Depreciation

Profit before Tax

Tax %

13.92%

11.89%

17.23%

12.84%

11.18%

8.57%

18.24%

16.99%

21.65%

11.71%

39.87%

22.83%

23.82%

Net Profit

18.43

10.71

18.47

25.41

26.07

12.33

18.52

20.42

8.71

8.02

1.87

10.53

6.92

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

297

414

531

787

904

1,598

2,015

2,125

2,399

1,652

1,492

271

383

494

741

832

1,493

1,879

1,952

2,197

1,535

1,400

Operating Profit

106

136

173

202

117

OPM %

8.77%

7.39%

7.00%

5.88%

7.90%

6.62%

6.73%

8.14%

8.43%

7.10%

6.16%

Interest

Depreciation

Profit before Tax

110

127

135

Tax %

36.92%

29.87%

33.62%

17.81%

16.76%

17.86%

15.95%

14.13%

14.15%

21.15%

21.71%

Net Profit

109

116

EPS

10.63

10.10

13.11

24.91

39.51

51.10

63.78

73.02

77.34

29.13

—

Dividend Payout %

17.00%

14.97%

13.73%

6.02%

4.56%

4.15%

4.05%

4.11%

4.27%

11.33%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

108

123

147

186

277

389

496

612

674

145

166

152

294

352

264

Trade Payables

164

217

257

148

108

101

Total Liabilities

201

238

227

300

395

543

750

1,120

1,344

1,202

102

159

219

341

589

690

717

Capital Work in Progress

116

128

196

118

266

270

152

Cash & Bank

120

126

130

152

149

194

226

Total Assets

201

238

227

300

395

543

750

1,120

1,344

1,202

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-8

175

112

100

235

Cash from Investing

-21

-20

-4

-54

-44

-70

-158

-276

-157

-89

Cash from Financing

-27

-15

178

-128

-6

-1

-17

-18

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

57.20

5.97

5.51

6.26

5.98

6.04

5.91

5.05

4.69

2.37

0.48

0.38

0.54

0.01

0.06

Government

0.00

36.34

36.91

36.15

36.28

36.76

36.88

37.75

38.10

40.38

Agarwal Industrial Corporation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Agarwal Industrial Corporation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI