MarketFriction

N R Agarwal Industries Ltd

NSE NRAIL · BSE 516082 · Paper & Paper Products
₹659.50 -1.49%
NSE close2026-10-01
52 week range385.00 - 706.40
Market cap₹1,125 Cr.
P/E17.0
Price band 20% Delivery 46.5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales342336247347428418466452525563605647
Expenses294288213319401389438436481506549573
Operating Profit484834282729281744575774
OPM %14%14%14%8%6%7%6%3.6%8%10%9%11%
Other Income2237914126-10206
Interest125131616161617161616
Depreciation9910161617161717171818
Profit before tax393921649-310-0262446
Tax %3%19%25%42%-102%-37%104%-69%359%45%41%24%
Net Profit3831163813-717-1141435
EPS in Rs22.2218.479.202.004.907.48-4.019.72-0.868.488.3420.55
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8831,0441,1901,3181,4051,1461,6171,7661,2931,6592,1452,340
Expenses8189051,0331,1331,1891,0131,4731,5801,1131,5471,9712,108
Operating Profit66139157186216133144186181112175232
OPM %7%13%13%14%15%12%9%11%14%7%8%10%
Other Income8667128101153118-2
Interest464340353630251411616465
Depreciation232426273233343637666970
Profit before tax478971311617895148138166096
Tax %-335%36%7%28%27%26%36%33%9%-11%27%
Net Profit18509095117576199125184462
EPS in Rs10.4829.2253.0255.6168.6033.6335.8558.3573.7210.3725.6836.51
Dividend Payout %0%7%6%7%0%3%0%0%3%39%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth9%13%7%33%
Compounded Profit Growth10%-3%-22%114%
Stock Price CAGR17%15%22%56%
Return on Equity16%11%9%6%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital171717171717171717171717
Reserves5977116202295402459519619743758798
Borrowings365347300289297202195175164579644821
Other Liabilities222226226195196245261290245227351396
Total Liabilities6636676597038058659331,0011,0451,5671,7702,031
Fixed Assets4584474364645265725845014831,1351,1971,221
CWIP4242521212029281222920227
Investments0010000012110113
Other Assets200195197218257273320471439381452571
Total Assets6636676597038058659331,0011,0451,5671,7702,031
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity6338911041121911169612913517695
Cash from Investing Activity-63-31-14-47-85-52-48-41-96-548-175-188
Cash from Financing Activity6-11-78-55-29-139-67-55-25405-196
Net Cash Flow7-5-13-2-02-08-803
Free Cash Flow-14745525136665429-39266-196
CFO/OP209%57%66%82%77%101%97%77%86%84%159%53%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days423333343331393829254142
Inventory Days494437365047795644866166
Days Payable905333233139775632328464
Cash Conversion Cycle12437475139423840791844
Working Capital Days-46-22-3-15151829261210
ROCE %4%11%28%29%30%32%17%17%22%14%6%8%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters73.97%73.97%73.97%73.97%73.97%73.97%73.97%73.97%74.11%74.11%74.28%74.28%
FIIs0.21%0.39%0.41%0.46%0.44%0.41%0.39%0.40%0.39%0.41%0.39%0.34%
DIIs0.01%0.01%0.01%0.01%0.01%0.16%0.11%0.03%0.03%0.03%0.02%0.01%
Public25.81%25.64%25.62%25.56%25.59%25.45%25.52%25.60%25.46%25.44%25.29%25.37%
No. of Shareholders10,5629,7949,7259,5599,9309,6799,7109,2828,6838,2337,8867,633

Fundamentals

Market Cap₹ 1,125 Cr.
Current Price₹ 660
Stock P/E17.0
Book Value₹ 479
ROCE8.49 %
ROE6.04 %
Dividend Yield0.30 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)33%
Compounded Profit Growth (TTM)114%
Standalone figures.
Valuation
Market capRs 1,122 Cr
Enterprise valueRs 1,938 Cr
P/E (TTM)18.06x
Price to book1.38x
Price to sales0.48x
EV / EBITDA8.42x
EV / EBIT12.06x
EV / sales0.83x
Price to cash flow11.83x
Earnings yield5.54%
P/E, 3-year average14.36x
P/B, 3-year average0.77x
P/E, 5-year average10.80x
P/B, 5-year average0.74x
Profitability
Operating margin (excl. other income)8.15%
Operating margin (incl. other income)8.97%
EBITDA margin9.84%
Pre-tax margin4.08%
Net profit margin2.66%
Net margin, latest quarter5.41%
ROE5.50%
ROCE8.10%
ROA2.30%
ROE, 3-year average8.59%
ROCE, 3-year average9.18%
ROA, 3-year average4.32%
ROE, 5-year average10.95%
ROCE, 5-year average13.25%
ROA, 5-year average5.80%
ROIC (approx.)7.22%
Tax rate26.70%
Other income / net worth2.16%
Growth
Sales growth (latest year)29.32%
Profit growth (latest year)147.59%
Sales CAGR, 3 years6.70%
Sales CAGR, 5 years13.37%
Profit CAGR, 3 years-23.94%
Profit CAGR, 5 years-5.25%
Sales growth QoQ6.87%
Profit growth QoQ146.34%
Sales growth YoY (latest quarter)43.09%
Profit growth YoY (latest quarter)111.36%
Per share
EPS (TTM)Rs 36.51
EPS (latest year)Rs 25.68
EPS (latest quarter)Rs 20.55
EPS, 3-year averageRs 36.59
EPS, 5-year averageRs 40.79
Book value per shareRs 479.11
Sales per shareRs 1,375.08
Cash flow per shareRs 55.74
Free cash flow per shareRs -115.16
Dividend per share, 3-year averageRs 3.00
Dividend per share, 5-year averageRs 3.00
Dividends
Dividend payout, 3-year average20.65%
Dividend payout, 5-year average20.65%
Efficiency
Asset turnover1.06x
Fixed asset turnover1.76x
Inventory turnover7.12x
Inventory days51 days
Debtor days42 days
Debtors turnover8.70x
Creditor days64 days
Cash conversion cycle44 days
Working capital days10 days
Leverage
Total debtRs 821 Cr
Cash and bankRs 5 Cr
Net debtRs 816 Cr
Debt to equity1.01x
Net debt / EBITDA3.54x
Interest coverage2.47x
Current ratio (filing 2026-03-31)1.15x
Quick ratio (filing 2026-03-31)0.64x
Trade payables (filing 2026-03-31)Rs 247 Cr
Owners' fund to total sources40.14%
Debt to assets40.39%
Cash flow
Cash from Operating Activity (latest year)Rs 95 Cr
Cash from Investing Activity (latest year)Rs -188 Cr
Cash from Financing Activity (latest year)Rs 96 Cr
Net Cash Flow (latest year)Rs 3 Cr
Free cash flow (latest year)Rs -196 Cr
FCFE (approx.: FCF + change in debt)Rs -19 Cr
Cash from ops / profit, 5 years1.82x
Sales to cash flow22.61x
Statement figures
Net sales (TTM)Rs 2,340 Cr
Net sales (latest year)Rs 2,145 Cr
Sales (latest quarter)Rs 647 Cr
Operating profit excl. other income (latest year)Rs 175 Cr
Operating profit (latest quarter)Rs 74 Cr
Other income (TTM)Rs -2 Cr
EBITDA (TTM)Rs 230 Cr
PBDT (TTM)Rs 165 Cr
Profit before tax (TTM)Rs 96 Cr
Tax (latest year)Rs 16 Cr
Net profit (TTM)Rs 62 Cr
Net profit (latest year)Rs 44 Cr
Net profit (latest quarter)Rs 35 Cr
Depreciation (TTM)Rs 70 Cr
Depreciation (latest quarter)Rs 18 Cr
Interest (TTM)Rs 65 Cr
Cost of goods sold (latest year)Rs 1,805 Cr
Total expenditure (latest year)Rs 1,971 Cr
Total income (latest year)Rs 2,163 Cr
Share capitalRs 17 Cr
ReservesRs 798 Cr
Shareholders' fundsRs 815 Cr
Total assetsRs 2,031 Cr
Net blockRs 1,221 Cr
Capital work in progressRs 227 Cr
InvestmentsRs 13 Cr
ReceivablesRs 247 Cr
InventoryRs 254 Cr
Other liabilitiesRs 396 Cr
Shares outstanding (crore)1.70
Ownership
Promoter holding74.28% (+0.31 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 18.1 is at the 87th percentile of its own 9.4-year range (median 7.4, low 2.6, high 39.3).
P/B 1.38 is at the 76th percentile (median 0.99).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodNRAILNifty 50Difference
1 week+3.4%-2.8% +6.2 pts
1 month+33.0%-6.8% +39.8 pts
3 months+55.9%-7.6% +63.5 pts
6 months+63.3%+0.4% +62.9 pts
1 year+64.6%-9.9% +74.5 pts
2 years+69.0%-13.6% +82.5 pts
3 years+81.7%+14.2% +67.5 pts
5 years+106.0%+27.9% +78.1 pts

Red flags

F-score 7 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹647 Cr +43.1% vs Jun 2025. Net profit ₹35 Cr +105.9%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-25Dividend - Rs 2 Per Share
2025-09-17Dividend - Rs 2 Per Share
2024-08-16Annual General Meeting/Dividend - Rs 2 Per Share
2023-09-21Annual General Meeting
2022-09-21Annual General Meeting
2021-09-21 Annual General Meeting/Dividend - Re 1 Per Sh
2020-09-21 Annual General Meeting
2019-09-06 Annual General Meeting/Dividend - Rs 4 Per Share
2018-09-18 Annual General Meeting/Dividend Rs 3 Per Share
2017-09-12 Annual General Meeting/Dividend - Rs 2/- Per Share
DateTypeWhat it says
2026-09-10Price movementSignificant movement in price has been observed in N R Agarwal Industries Limited. The Exchange, in order to ensure that investors have latest relevan...
2026-09-09Price movementSignificant movement in price has been observed in N R Agarwal Industries Limited. The Exchange, in order to ensure that investors have latest relevan...
2026-09-03Shareholder meetingVoting results.
2026-09-02Amendment to AOA/MOAThe Amendment to AOA/MOA of the company.
2026-09-02Shareholder meetingProceedings of Annual General Meeting held on September 02, 2026
2026-09-01AppointmentAppointment of Mr. Manoj Chauhan as Senior Managerial Personnel with effect from September 01, 2026.
2026-08-05Board meeting outcomeN R Agarwal Industries Limited has submitted to the Exchange, the un-audited financial results for the period ended Jun 30, 2026.
2026-08-04Record DateRecord date for the purpose of Dividend is 26-Aug-2026.
2026-08-04Shareholder meetingNotice of Annual General Meeting to be held on September 02, 2026
2026-07-17Credit Rating- OthersPursuant to Regulation 30 and other applicable provisions of SEBI Listing Regulations, ICRA Limited has reaffirmed the long-term rating of [ICRA]A- St...
2026-05-12Change in ManagementPursuant to Regulation 30 and 33 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board also co...
2026-05-12General UpdatesGeneral Updates
2026-05-12General UpdatesThe update on new Multilayer Board plant (Unit VI).
2026-05-12DividendBoard of Directors at its meeting held on May 12, 2026, recommended a final dividend @ 20% i.e. Rs. 2/- per share (face value Rs. 10/-) for financial ...
2026-05-12Board meeting outcomeN R Agarwal Industries Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-09Disclosure under SEBI TakeovRajendra Nagin Agarwal has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substa...
2026-03-26ResignationResignation of Mr Ramesh Harkulkar as Other of the company w.e.f. March 25, 2026.
2026-02-26Capacity additionPursuant to Regulation 30 of the SEBI Listing Regulations read with the above-mentioned SEBI Circulars, the Company has received an amendment to the C...
2026-02-20UpdatesThis is in continuation of our earlier intimation dated December 20, 2025 regarding the setting up of the new Multilayer Board Plant (Unit VI) at Dahe...
2026-02-19AppointmentPursuant to Regulation 30 read with Schedule III and other applicable provisions of the SEBI (LODR) Regulations, 2015, we hereby inform you regarding ...
2026-02-17Disclosure under SEBI TakeovRajendra Agarwal,Reena Agarwal ,Raunak Agarwal has submitted to  the Exchange a copy of Disclosure by the Promoter(s) to the stock exchanges and to th...
2026-02-11Board meeting outcomeN R Agarwal Industries Limited has submitted to the Exchange that pursuant to Regulation 30 and 33 read with Schedule III of SEBI (Listing Obligations...
2026-02-11Board meeting outcomePursuant to Regulation 30 and 33 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Dire...
2025-12-20General UpdatesThis disclosure is in continuation of the Company s earlier intimation dated July 31, 2025, regarding the setting up of new Multiplayer Board Plant (U...
2025-11-14Board meeting outcomeN R Agarwal Industries Limited has submitted to the Exchange that pursuant to Regulation 30 and 33 read with Schedule III of SEBI (Listing Obligations...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Close to Close price movement greater than 25perc in previous 1 monthClose to Close price movement greater than 50perc in previous 3 monthsHigh low price variation greater than 75perc in previous 3 monthsThe Overall encumbered share in the scrip is more than 50 Percent.

Quick answers

What is the market cap of N R Agarwal Industries Ltd?

N R Agarwal Industries Ltd (NRAIL) has a market capitalisation of Rs 1,125 Cr. at the 2026-10-01 close.

What is the P/E ratio of N R Agarwal Industries Ltd?

N R Agarwal Industries Ltd trades at a P/E of 17.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were N R Agarwal Industries Ltd's latest quarterly results?

In the Jun 2026 quarter, N R Agarwal Industries Ltd sales was Rs 647 Cr (+43.1% vs Jun 2025) and net profit was Rs 35 Cr.

What is the 52-week high and low of N R Agarwal Industries Ltd?

The 52-week high is Rs 706.40 and the 52-week low is Rs 385.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03