About
N R Agarwal Industries Limited manufactures and sells finished paper products in India. The company offers coated duplex boards, folding box board (FBB), and solid bleached sulphate (SBS) for offset printing, embossing, and foil stamping; writing and printing papers; copier papers; and newsprint products. Its products are primarily used in FMCG packaging, textbooks and notebooks, and print media sectors. It also exports its products. The company was founded in 1983 and is headquartered in Mumbai, India.
Key Metrics
as of Sep 2026Market Cap994 Cr
P/E15.00
Div Yield0.34 %
Book Value₹479.00
52w High₹596.00
52w Low₹355.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 647.00 | 605.00 | 563.00 | 525.00 | 452.00 | 466.00 | 418.00 | 428.00 | 347.00 | 247.00 | 336.00 | 342.00 | 369.00 |
| Expenses | 573.00 | 549.00 | 506.00 | 481.00 | 436.00 | 438.00 | 389.00 | 401.00 | 319.00 | 213.00 | 288.00 | 294.00 | 322.00 |
| Operating Profit | 74.00 | 57.00 | 57.00 | 44.00 | 17.00 | 28.00 | 29.00 | 27.00 | 28.00 | 34.00 | 48.00 | 48.00 | 47.00 |
| OPM % | 11.00 | 9.00 | 10.00 | 8.00 | 3.60 | 6.00 | 7.00 | 6.00 | 8.00 | 14.00 | 14.00 | 14.00 | 13.00 |
| Other Income | 6.00 | 0.00 | 2.00 | -10.00 | 26.00 | 1.00 | 14.00 | 9.00 | 7.00 | 3.00 | 2.00 | 2.00 | 3.00 |
| Depreciation | 18.00 | 18.00 | 17.00 | 17.00 | 17.00 | 16.00 | 17.00 | 16.00 | 16.00 | 10.00 | 9.00 | 9.00 | 9.00 |
| Interest | 16.00 | 16.00 | 16.00 | 17.00 | 16.00 | 16.00 | 16.00 | 16.00 | 13.00 | 5.00 | 2.00 | 1.00 | 2.00 |
| Profit before tax | 46.00 | 24.00 | 26.00 | 0.00 | 10.00 | -3.00 | 9.00 | 4.00 | 6.00 | 21.00 | 39.00 | 39.00 | 39.00 |
| Tax % | 24.00 | 41.00 | 45.00 | 359.00 | -69.00 | 104.00 | -37.00 | -102.00 | 42.00 | 25.00 | 19.00 | 3.00 | -5.00 |
| Net Profit | 35.00 | 14.00 | 14.00 | -1.00 | 17.00 | -7.00 | 13.00 | 8.00 | 3.00 | 16.00 | 31.00 | 38.00 | 41.00 |
| EPS in Rs | 20.55 | 8.34 | 8.48 | -0.86 | 9.72 | -4.01 | 7.48 | 4.90 | 2.00 | 9.20 | 18.47 | 22.22 | 23.83 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,145.00 | 1,659.00 | 1,293.00 | 1,766.00 | 1,617.00 | 1,146.00 | 1,405.00 | 1,318.00 | 1,190.00 | 1,044.00 | 883.00 | 725.00 |
| Expenses | 1,971.00 | 1,547.00 | 1,113.00 | 1,580.00 | 1,473.00 | 1,013.00 | 1,189.00 | 1,133.00 | 1,033.00 | 905.00 | 818.00 | 695.00 |
| Operating Profit | 175.00 | 112.00 | 181.00 | 186.00 | 144.00 | 133.00 | 216.00 | 186.00 | 157.00 | 139.00 | 66.00 | 30.00 |
| OPM % | 8.00 | 7.00 | 14.00 | 11.00 | 9.00 | 12.00 | 15.00 | 14.00 | 13.00 | 13.00 | 7.00 | 4.20 |
| Other Income | 18.00 | 31.00 | 5.00 | 11.00 | 10.00 | 8.00 | 12.00 | 7.00 | 6.00 | 6.00 | 8.00 | 6.00 |
| Interest | 64.00 | 61.00 | 11.00 | 14.00 | 25.00 | 30.00 | 36.00 | 35.00 | 40.00 | 43.00 | 46.00 | 36.00 |
| Depreciation | 69.00 | 66.00 | 37.00 | 36.00 | 34.00 | 33.00 | 32.00 | 27.00 | 26.00 | 24.00 | 23.00 | 18.00 |
| Profit before tax | 60.00 | 16.00 | 138.00 | 148.00 | 95.00 | 78.00 | 161.00 | 131.00 | 97.00 | 78.00 | 4.00 | -17.00 |
| Tax % | 27.00 | -11.00 | 9.00 | 33.00 | 36.00 | 26.00 | 27.00 | 28.00 | 7.00 | 36.00 | -335.00 | 95.00 |
| Net Profit | 44.00 | 18.00 | 125.00 | 99.00 | 61.00 | 57.00 | 117.00 | 95.00 | 90.00 | 50.00 | 18.00 | -33.00 |
| EPS in Rs | 25.68 | 10.37 | 73.72 | 58.35 | 35.85 | 33.63 | 68.60 | 55.61 | 53.02 | 29.22 | 10.48 | -19.64 |
| Dividend Payout % | 0.00 | 39.00 | 3.00 | 0.00 | 0.00 | 3.00 | 0.00 | 7.00 | 6.00 | 7.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 |
| Reserves | 798.00 | 758.00 | 743.00 | 619.00 | 519.00 | 459.00 | 402.00 | 295.00 | 202.00 | 116.00 | 77.00 | 59.00 |
| Borrowings | 821.00 | 644.00 | 579.00 | 164.00 | 175.00 | 195.00 | 202.00 | 297.00 | 289.00 | 300.00 | 347.00 | 365.00 |
| Other Liabilities | 396.00 | 351.00 | 227.00 | 245.00 | 290.00 | 261.00 | 245.00 | 196.00 | 195.00 | 226.00 | 226.00 | 222.00 |
| Total Liabilities | 2,031.00 | 1,770.00 | 1,567.00 | 1,045.00 | 1,001.00 | 933.00 | 865.00 | 805.00 | 703.00 | 659.00 | 667.00 | 663.00 |
| Fixed Assets | 1,221.00 | 1,197.00 | 1,135.00 | 483.00 | 501.00 | 584.00 | 572.00 | 526.00 | 464.00 | 436.00 | 447.00 | 458.00 |
| CWIP | 227.00 | 20.00 | 29.00 | 122.00 | 28.00 | 29.00 | 20.00 | 21.00 | 21.00 | 25.00 | 24.00 | 4.00 |
| Investments | 13.00 | 101.00 | 21.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 0.00 | 0.00 |
| Other Assets | 571.00 | 452.00 | 381.00 | 439.00 | 471.00 | 320.00 | 273.00 | 257.00 | 218.00 | 197.00 | 195.00 | 200.00 |
| Total Assets | 2,031.00 | 1,770.00 | 1,567.00 | 1,045.00 | 1,001.00 | 933.00 | 865.00 | 805.00 | 703.00 | 659.00 | 667.00 | 663.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 95.00 | 176.00 | 135.00 | 129.00 | 96.00 | 116.00 | 191.00 | 112.00 | 104.00 | 91.00 | 38.00 | 63.00 |
| Cash from Investing Activity | -188.00 | -175.00 | -548.00 | -96.00 | -41.00 | -48.00 | -52.00 | -85.00 | -47.00 | -14.00 | -31.00 | -63.00 |
| Cash from Financing Activity | 96.00 | -1.00 | 405.00 | -25.00 | -55.00 | -67.00 | -139.00 | -29.00 | -55.00 | -78.00 | -11.00 | 6.00 |
| Net Cash Flow | 3.00 | 0.00 | -8.00 | 8.00 | 0.00 | 2.00 | 0.00 | -2.00 | 3.00 | -1.00 | -5.00 | 7.00 |
| Free Cash Flow | -196.00 | 66.00 | -392.00 | 29.00 | 54.00 | 66.00 | 136.00 | 25.00 | 55.00 | 74.00 | 4.00 | -1.00 |
| CFO/OP % | 53.00 | 159.00 | 84.00 | 86.00 | 77.00 | 97.00 | 101.00 | 77.00 | 82.00 | 66.00 | 57.00 | 209.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 42.00 | 41.00 | 25.00 | 29.00 | 38.00 | 39.00 | 31.00 | 33.00 | 34.00 | 33.00 | 33.00 | 42.00 |
| Inventory Days | 66.00 | 61.00 | 86.00 | 44.00 | 56.00 | 79.00 | 47.00 | 50.00 | 36.00 | 37.00 | 44.00 | 49.00 |
| Days Payable | 64.00 | 84.00 | 32.00 | 32.00 | 56.00 | 77.00 | 39.00 | 31.00 | 23.00 | 33.00 | 53.00 | 90.00 |
| Cash Conversion Cycle | 44.00 | 18.00 | 79.00 | 40.00 | 38.00 | 42.00 | 39.00 | 51.00 | 47.00 | 37.00 | 24.00 | 1.00 |
| Working Capital Days | 10.00 | 12.00 | 26.00 | 29.00 | 8.00 | 1.00 | 15.00 | 5.00 | -1.00 | -3.00 | -22.00 | -46.00 |
| ROCE % | 8.00 | 6.00 | 14.00 | 22.00 | 17.00 | 17.00 | 32.00 | 30.00 | 29.00 | 28.00 | 11.00 | 4.00 |
Corporate Actions
16 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 25 Aug 2026 | 26 Aug 2026 | — | 2.00 | |
| Dividend | 17 Sep 2025 | 17 Sep 2025 | — | 2.00 | |
| Dividend | 16 Aug 2024 | — | — | 2.00 | |
| Other | 21 Sep 2023 | — | — | — | Annual General Meeting |
| Other | 21 Sep 2022 | — | — | — | Annual General Meeting |
| Dividend | 21 Sep 2021 | — | — | 1.00 | |
| Other | 21 Sep 2020 | — | — | — | Annual General Meeting |
| Dividend | 06 Sep 2019 | — | — | 4.00 | |
| Dividend | 18 Sep 2018 | — | — | 3.00 | |
| Dividend | 12 Sep 2017 | — | — | 2.00 | |
| Dividend | 14 Aug 2012 | — | — | 1.20 | |
| Dividend | 18 Aug 2011 | — | — | 1.80 | |
| Dividend | 07 Sep 2010 | — | — | 1.80 | |
| Dividend | 17 Sep 2009 | — | — | 1.00 | |
| Dividend | 02 Sep 2008 | — | — | 1.20 | |
| Dividend | 21 Sep 2007 | — | — | 1.50 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update16 Jul from icra
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Rating update25 Aug 2025 from icra
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Rating update3 Jan 2025 from icra
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Rating update16 Nov 2023 from icra
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Rating update13 Oct 2023 from crisil
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Rating update28 Aug 2023 from crisil