Small Petrochemicals

Agarwal Industrial Corporation Ltd.

AGARIND

₹980.0

2.29% (21.9)

Market Cap

₹1,433 Cr.

P/E

12.39

Agarwal Industrial Corporation Ltd.
Overview
Financials
Benchmarking
Shareholding

Agarwal Industrial Corporation Ltd.

Agarwal Industrial Corporation Ltd.
Overview
Financials
Benchmarking
Shareholding

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on Agarwal Industrial Corporation Ltd. Shareprice

Has the share price of Agarwal Indl. Corp grown faster than its competition?

Agarwal Indl. Corp has given better returns compared to its competitors.
Agarwal Indl. Corp has grown at ~34.83% over the last 4yrs while peers have grown at a median rate of 7.37%

Is Agarwal Indl. Corp stock expensive?

Yes, Agarwal Indl. Corp is expensive.
Latest PE of Agarwal Indl. Corp is 12.39, while 3 year average PE is 11.6.
Also latest EV/EBITDA of Agarwal Indl. Corp is 8.94 while 3yr average is 8.16.

View FAQ's On Business

Growth Table

Agarwal Industrial Corporation Ltd.
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	-15.16	26.52	30.01	33.95	68.86	43.89	18.96	4.45	25.56	25.74
TTM EPS CAGR	3.79	10.58	22.77	21.52	23.96	36.61	32.38	28.98	24.55	21.90
Sales CAGR	12.87	9.11	14.50	27.64	24.97	28.62	28.57	28.73	32.22	26.73
PAT Margin (Abs Growth)	0.56	1.15	0.65	1.89	2.61	2.66	2.13	2.70	2.52	2.34
PE CAGR	-21.44	12.82	7.27	10.95	35.67	4.97	-10.17	-19.18	0.29	2.80
CFO CAGR	-28.33	31.75	31.41	22.75	30.27	55.00	—	31.31	57.24	45.68

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

Agarwal Industrial Corporation Ltd.
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	147	201	238	227	300	395	543	750	1,120	1,345
Non Current Assets	38.14	50.21	59.15	54.08	102	160	225	350	590	731
Net Block	39.33	43.98	61.52	56.80	102	159	219	341	589	683
Capital Work in Progress	0.10	8.07	0.41	0.52	3.33	0.76	2.87	6.95	0.00	15.55
Intangible Assets Under Development	—	—	—	—	—	—	—	—	—	—
Long Term Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Current Assets	107	148	175	169	194	232	314	397	527	614
Inventory	7.33	17.15	36.85	27.19	27.56	47.72	65.36	116	128	196
Accounts Receivable	76.78	105	113	113	138	135	161	194	266	270
Short Term Investments	3.02	6.37	8.59	9.38	6.79	6.06	12.49	25.66	35.72	33.72
Cash & Bank Balances	11.38	5.90	5.08	3.45	8.38	32.31	50.07	33.53	62.29	53.12
Liabilities	147	201	238	227	300	395	543	750	1,120	1,345
Shareholders Funds	73.17	111	122	134	158	196	295	404	511	627
Share Capital	8.00	10.16	10.26	10.26	10.26	10.26	13.21	14.96	14.96	14.96
Reserves	61.49	96.41	108	123	147	186	277	389	496	612
Non Current Liabilities	8.98	11.14	17.00	9.55	6.58	60.22	55.43	87.43	182	190
Secured Loans	6.95	8.32	13.05	4.95	1.85	41.33	31.44	68.75	169	—
Unsecured Loans	—	—	—	—	—	—	—	—	—	182
Current Liabilities	64.91	79.34	99.20	84.24	136	139	193	258	427	527
Accounts Payable	1.61	2.34	13.75	6.92	42.50	33.59	55.16	164	217	258
Short Term Loans	53.30	57.90	71.03	62.78	83.86	81.13	103	42.73	117	245

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

Agarwal Industrial Corporation Ltd.
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	281	297	414	531	787	904	1,598	2,015	2,125	2,399
Operating Expenses	260	271	383	494	741	832	1,493	1,879	1,952	2,197
Raw Material	208	226	335	410	644	748	1,316	1,711	1,703	430
Material Cost (%)	75.96	72.02	76.23	79.63	82.44	79.99	81.52	82.81	79.39	15.23
Employee Cost	3.33	3.45	4.07	3.82	4.00	3.72	4.95	5.74	6.91	11.74
Power & Fuel Cost	0.37	0.37	0.55	0.48	9.63	15.08	48.32	51.43	54.57	—
Operating Profit	21.24	26.05	30.59	37.19	46.27	71.43	106	136	173	202
Other Income	0.65	1.16	1.03	0.75	2.77	1.60	3.90	9.07	5.13	10.55
OPM (%)	7.56	8.77	7.39	7.00	5.88	7.90	6.62	6.73	8.14	8.43
Depreciation and Amortisation	5.28	5.78	8.32	8.36	8.96	14.45	19.73	22.69	30.10	47.83
Interest	6.67	7.23	8.64	9.33	8.99	9.88	12.36	12.26	20.88	30.10
Profit Before Tax	9.94	14.21	14.65	20.26	31.09	48.69	77.53	110	127	135
Tax	3.07	5.25	4.38	6.81	5.54	8.16	13.85	17.50	17.97	19.07
Net Profit	6.87	8.96	10.28	13.45	25.55	40.53	63.69	92.26	109	116
Number of shares(Crs)	0.55	1.02	1.03	1.03	1.03	1.03	1.32	1.50	1.50	—
Dividend Payout Ratio(%)	17.47	17.00	14.97	13.73	6.02	4.56	4.15	4.05	4.11	—

TTM Values as of Mar 2025

Cash Flow

Agarwal Industrial Corporation Ltd.
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	12.70	-11.64	8.10	29.93	49.46	49.48	64.68	157	112	99.84
Profit Before Tax	9.94	14.21	14.65	20.26	31.09	48.69	77.53	110	127	135
Adjustments	11.48	12.09	15.83	17.00	18.47	25.54	42.92	33.47	47.45	73.53
OCF Before Working Capital	21.41	26.30	30.49	37.26	49.56	74.23	120	143	175	208
Working Capital Changes	-4.81	-34.63	-16.78	-3.02	7.27	-18.58	-42.59	31.45	-44.07	-87.14
Taxes Paid	-3.90	-3.31	-5.61	-4.31	-7.37	-6.17	-13.18	-18.02	-18.28	-21.30
Cash from Investing Activity	-9.27	-21.34	-19.73	-3.88	-53.87	-43.70	-69.65	-158	-276	-157
Net Fixed Assets Purchased	-7.95	-18.48	-18.03	-3.78	-56.78	-45.84	-64.68	-147	-270	-165
Fixed Assets Purchased	-8.10	-18.51	-19.55	-3.86	-57.21	-46.61	-65.54	-149	-270	-165
Fixed Assets Sold	0.15	0.04	1.52	0.08	0.43	0.78	0.86	1.47	0.21	0.03
Investment Purchased	-1.92	-7.25	-12.17	-11.24	-7.84	-6.42	-8.00	-30.59	-34.70	—
Investment Sold	0.60	4.20	10.34	10.94	10.27	8.04	2.05	18.45	26.51	—
Interest Recieved	—	0.17	0.10	0.06	0.32	0.24	0.55	0.61	1.34	2.80
Dividends Recieved	0.00	0.02	0.04	0.14	0.16	0.03	—	—	—	—
Subsidiary Investments	—	—	—	—	—	—	—	—	—	—
Cash from Financing Activity	-0.89	27.34	10.36	-27.43	6.88	21.35	19.01	-15.42	178	39.50
Proceeds From Shares	—	28.99	—	—	—	—	—	—	—	—
Net Long Term Borrowings	5.16	1.37	4.72	-8.68	-3.10	39.38	-10.30	37.27	100	12.75
Proceeds From Borrowings	5.16	1.37	4.72	—	—	39.38	—	37.27	100	—
Repayment From Borrowings	—	—	—	-8.68	-3.10	—	-10.30	—	—	12.75
Interest Paid	-6.33	-6.64	-8.23	-8.65	-8.87	-8.38	-10.18	-9.99	-18.33	-27.84
Dividend Paid	-0.83	-0.83	-1.52	-1.54	-1.85	-1.54	-2.24	-2.89	-3.74	-4.49
Net Cash Flow	2.54	-5.64	-1.27	-1.38	2.48	27.14	14.04	-17.07	13.39	-17.55
Opening Cash & Cash Equivalents	4.22	10.60	4.95	3.69	2.30	4.78	31.92	46.38	29.31	42.70
Effect of FX	—	—	—	—	—	—	—	—	—	—
Closing Cash & Cash Equivalents	11.38	4.95	3.69	2.30	4.78	31.92	46.38	29.31	42.70	25.16
Net Capex (est)	7.95	18.48	18.03	3.78	56.78	45.84	64.68	147	270	165
Free Cash Flow (est)	4.75	-30.11	-9.94	26.15	-7.31	3.65	0.00	9.44	-158	-64.98

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

Agarwal Industrial Corporation Ltd.
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	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	1.16	1.54	1.65	1.39	1.68	1.22	1.32	1.29	1.09	0.93
Liquid Assets (Crs)	53.36	99.68	131	138	142	166	184	249	281	399
Current Liabilities (Crs)	45.82	64.91	79.34	99.20	84.24	136	139	193	258	427
Current Ratio	1.38	1.65	1.87	1.77	2.01	1.43	1.66	1.63	1.53	1.23
Current Assets (Crs)	63.29	107	148	175	169	194	232	314	397	527
Current Liabilities (Crs)	45.82	64.91	79.34	99.20	84.24	136	139	193	258	427
Interest Coverage Ratio	3.03	2.49	2.97	2.70	3.17	4.46	5.93	7.27	9.95	7.09
EBIT (Crs)	12.45	16.60	21.43	23.30	29.58	40.08	58.58	89.90	122	148
Interest Expenses (Crs)	4.10	6.67	7.23	8.64	9.33	8.99	9.88	12.36	12.26	20.88
Fixed Asset Turnover	3.64	3.58	5.97	5.48	6.72	5.96	4.57	5.98	4.94	3.11
Net Sales (Crs)	224	281	297	414	531	787	904	1,598	2,015	2,125
Fixed Assets (Crs)	61.64	78.51	49.76	75.55	79.04	132	198	267	408	684
Cash Conversion Cycle	57.62	80.87	123	111	90.68	57.00	51.06	34.29	24.63	19.18
Inventory Days	12.15	11.21	15.00	23.79	21.99	12.69	15.20	12.91	16.43	20.94
Days Receivable	55.80	76.37	112	96.05	77.60	58.21	55.07	33.81	32.13	39.46
Days Payable	10.33	6.71	3.36	9.31	8.91	13.90	19.21	12.43	23.94	41.21
Debt to Equity Ratio	0.95	0.89	0.67	0.78	0.57	0.57	0.66	0.50	0.34	0.68
Total Debt (Crs)	41.04	65.22	73.86	95.68	76.65	90.27	130	147	137	345
Shareholders Equity (Crs)	43.20	73.17	111	122	134	158	196	295	404	511
Free Cash Flow/Sales (%)	-1.45	1.69	-10.14	-2.40	4.92	-0.93	0.40	0.00	0.47	-7.42
Free Cash Flow(est) (Crs)	-3.26	4.75	-30.11	-9.94	26.15	-7.31	3.65	0.00	9.44	-158
Net Sales (Crs)	224	281	297	414	531	787	904	1,598	2,015	2,125
Profitability Ratios
Gross Margin (%)	25.40	24.04	27.98	23.77	20.37	17.56	20.01	18.48	17.19	20.61
Op Profit Margin (%)	7.21	7.56	8.77	7.39	7.00	5.88	7.90	6.62	6.73	8.14
Operating Profit (Crs)	16.75	21.88	27.22	31.61	37.95	49.04	73.02	110	145	178
Net Sales (Crs)	224	281	297	414	531	787	904	1,598	2,015	2,125
Net Profit Margin (%)	2.62	2.44	3.02	2.48	2.53	3.25	4.48	3.98	4.58	5.14
Net Profit (Crs)	5.88	6.87	8.96	10.28	13.45	25.55	40.53	63.69	92.26	109
Net Sales (Crs)	224	281	297	414	531	787	904	1,598	2,015	2,125
ROCE (%)	25.12	20.21	17.57	16.77	20.68	24.43	22.85	25.69	24.84	21.38
EBIT (Crs)	12.45	16.60	21.43	23.30	29.58	40.08	58.58	89.90	122	148
Capital Employed (Crs)	49.56	82.15	122	139	143	164	256	350	491	693
Return on Assets (%)	6.16	4.67	4.45	4.32	5.91	8.52	10.25	11.73	12.31	9.75
Net Profit (Crs)	5.88	6.87	8.96	10.28	13.45	25.55	40.53	63.69	92.26	109
Total Assets (Crs)	95.38	147	201	238	227	300	395	543	750	1,120
ROIC (%)	18.73	15.72	11.09	11.75	13.81	19.82	21.26	23.71	20.84	19.58
Op Profit after Taxes (Crs)	8.37	11.03	12.79	15.62	19.14	30.67	47.43	70.64	94.94	123
Invested Capital (Crs)	44.68	70.14	115	133	139	155	223	298	456	627
ROE (%)	13.60	9.38	8.08	8.43	10.07	16.22	20.67	21.62	22.85	21.37
Net Profit Margin (%)	2.62	2.44	3.02	2.48	2.53	3.25	4.48	3.98	4.58	5.14
Asset Turnover ratio	2.35	1.91	1.48	1.74	2.34	2.62	2.29	2.94	2.69	1.90
Equity Multiplier	2.21	2.01	1.82	1.95	1.70	1.90	2.02	1.84	1.86	2.19
Adjusted EPS	10.66	8.58	8.82	10.02	13.11	24.91	39.51	48.22	61.68	73.02
Valuation Ratios
P/E	8.63	14.90	68.63	33.79	12.60	1.79	3.99	13.98	9.23	10.96
Price to Book	1.17	1.47	5.77	2.93	1.27	0.29	0.82	3.07	2.11	2.34
EV/EBITDA	5.23	7.14	25.10	13.85	6.40	2.60	3.55	9.00	6.60	8.31
Dividend Yield (%)	1.63	1.17	0.25	0.44	1.09	3.36	1.14	0.30	0.44	0.37

Quarterly Results

Agarwal Industrial Corporation Ltd.
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	552	660	629	232	488	776	708	326	542	823
Operating Expenses	514	617	587	205	444	716	648	290	489	770
Increase/Decrease in Stock	-27.02	-41.67	52.72	-20.21	-43.62	-4.54	23.88	-22.63	-34.48	-31.70
Raw Material	81.19	95.02	112	38.69	102	161	105	33.24	130	162
Employee Cost	2.35	2.48	2.22	2.24	2.42	2.86	2.66	2.79	3.30	2.98
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	37.99	42.55	41.50	26.83	44.33	60.15	60.17	35.17	53.28	53.52
Other Income	1.81	0.64	0.61	1.85	0.90	1.76	1.53	1.83	2.48	4.70
Interest	3.13	3.61	3.83	3.70	4.66	8.48	7.57	6.48	6.84	9.20
PBDT	36.68	39.58	38.29	24.99	40.58	53.43	54.14	30.52	48.91	49.02
Depreciation and Amortization	5.80	6.28	6.25	6.82	7.21	9.82	10.23	10.35	15.03	12.23
Profit Before Tax	30.88	33.30	32.04	18.17	33.37	43.61	43.91	20.18	33.88	36.79
Tax	5.67	5.00	4.46	2.15	5.75	5.60	4.91	1.73	6.18	6.25
Profit After Tax	25.22	28.30	27.57	16.01	27.63	38.01	39.00	18.44	27.70	30.54
Exceptional Items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	25.21	28.30	27.57	16.01	27.63	38.01	39.00	18.44	27.70	30.54
Quarterly Ratios
EPS	16.86	18.92	18.43	10.70	18.47	25.41	26.07	12.33	18.52	20.42
Operating Profit Margin	6.88	6.45	6.60	11.57	9.08	7.75	8.50	10.80	9.83	6.50
Net Profit Margin	4.57	4.29	4.39	6.91	5.66	4.89	5.51	5.66	5.11	3.71

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

13.10%

Implied Growth Rate over a 5 year period*

1.00%

Implied Growth Rate over a 10 year period*

-1.00%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on Agarwal Industrial Corporation Ltd. Financials

How strong is Agarwal Indl. Corp balance sheet?

Balance sheet of Agarwal Indl. Corp is strong.
But short term working capital might become an issue for this company.

Is the debt of Agarwal Indl. Corp increasing or decreasing?

Yes, The net debt of Agarwal Indl. Corp is increasing.
Latest net debt of Agarwal Indl. Corp is ₹374 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹222 Crs.

Is the profitablity of Agarwal Indl. Corp improving?

Yes, profit is increasing.
The profit of Agarwal Indl. Corp is ₹116 Crs for TTM, ₹109 Crs for Mar 2024 and ₹92.26 Crs for Mar 2023.

Does Agarwal Indl. Corp pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Agarwal Indl. Corp latest dividend payout ratio is 4.11% and 3yr average dividend payout ratio is 4.1%

How has Agarwal Indl. Corp allocated its funds?

Companies resources are allocated to majorly productive assets like Plant & Machinery

View FAQ's On Shareholding

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Agarwal Industrial Corporation Ltd.

Agarwal Industrial Corporation Ltd.

Has the share price of Agarwal Indl. Corp grown faster than its competition?

Is Agarwal Indl. Corp stock expensive?

How strong is Agarwal Indl. Corp balance sheet?

Is the debt of Agarwal Indl. Corp increasing or decreasing?

Is the profitablity of Agarwal Indl. Corp improving?

Does Agarwal Indl. Corp pay decent dividends?

How has Agarwal Indl. Corp allocated its funds?

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