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Agarwal Industrial Corporation Ltd (AGARIND)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531921 NSE: AGARIND Petrochemicals | Small Cap | Agarwal Indl. Corpn. Share Price
₹430.05 -3.40 (-0.78%)
As on 11-Sep'26 16:59
Agarwal Industrial Corporation Ltd (AGARIND)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531921 NSE: AGARIND Petrochemicals | Small Cap | Agarwal Indl. Corpn. Share Price
₹430.05 -3.40 (-0.78%)
As on 11-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹643 Cr.
Current Price
₹430.1
52-Week Low / High
₹360 / 1,003
TTM EPS
₹27.3
TTM Sales
₹1,492 Cr.
Book Value per Share
₹467.6
P/E Ratio
15.73
Lower than its 5-year historical median
Industry PE
32.5
Price to Book (P/B)
0.92
Lower than its 5-year historical median
Price to Sales (P/S)
0.43
Lower than its 5-year historical median
EV/EBITDA
6.99
Lower than its 5-year historical median
Dividend Yield
0.77%
Profitability Efficiency
Return on Equity (ROE)
6.62%
Underperforms industry median
Return on Capital Employed (ROCE)
7.99%
Underperforms industry median
Return on Assets (ROA)
3.42%
Operating Profit Margin
7.1%
Net Profit Margin
2.64%
Gross Profit Margin
6.5%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-33.57%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-42.03%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-62.34%
Asset Quality
Promoter Holding
57.20%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹684 Cr.
Equity
₹15 Cr.
Face Value
₹10
All Time Low / High
₹12.60 / 1383.15
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat UndervaluedCheck Valuation charts
Price Trend
Weak
Is Agarwal Industrial Corporation Ltd a good quality company?
Agarwal Industrial Corporation Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Agarwal Industrial Corporation Ltd performance compare with that of its Peers?
Revenue growth of Agarwal Industrial Corporation Ltd vs industry peers?
Agarwal Industrial Corporation Ltd revenue CAGR is 12.82%, compared to the industry median CAGR of 8.32%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Agarwal Industrial Corporation Ltd?
Promoters hold 57.20% of the Agarwal Industrial Corporation Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Agarwal Industrial Corporation Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 9.3% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Agarwal Industrial Corporation Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 13.2% | 11.5% | 13.7% | 13.1% | 15.6% | 20.2% | 21.3% | 19.3% | 16.5% | 10.7% | - |
| Value Creation Index ⓘ | -0.1 | -0.2 | 0.0 | -0.1 | 0.1 | 0.4 | 0.5 | 0.4 | 0.2 | -0.2 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 294 | 411 | 529 | 752 | 833 | 1,405 | 1,761 | 1,794 | 2,003 | 1,331 | 1,159 |
| Sales YoY Gr. | - | 39.9% | 28.5% | 42.2% | 10.9% | 68.6% | 25.3% | 1.9% | 11.7% | -33.6% | - |
| Adj EPS ⓘ | 8.3 | 9.8 | 12.9 | 13.4 | 21.2 | 28.2 | 30.2 | 32.7 | 35.1 | 19.3 | 22.5 |
| YoY Gr. | - | 17.7% | 31.8% | 4% | 58.8% | 32.7% | 7.2% | 8.4% | 7.3% | -45.2% | - |
| BVPS (₹) ⓘ | 104.6 | 115.1 | 129.6 | 141.8 | 161.3 | 176.3 | 199 | 229.7 | 262.6 | 282.3 | 288.5 |
| Adj Net Profit ⓘ | 8.4 | 10 | 13.2 | 13.7 | 21.8 | 37.2 | 45.2 | 49 | 52.6 | 28.8 | 34 |
| Cash Flow from Ops. ⓘ | -11.4 | 7.5 | 29.1 | 21.2 | 28.6 | 29 | 60.7 | -25.8 | -29.3 | 148 | - |
| Debt/CF from Ops. ⓘ | -6.5 | 12.8 | 2.6 | 4.3 | 3.7 | 4.3 | 1 | -5.1 | -6.2 | 1 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 18.3% | 9.8% | -8.9% | -33.6% | ||||
| Adj EPS ⓘ | 9.8% | -1.9% | -14% | -45.2% | ||||
| BVPSⓘ | 11.7% | 11.8% | 12.4% | 7.5% | ||||
| Share Price | 9.2% | 6.7% | -22.7% | -54.5% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 9.2 | 8.6 | 10.4 | 9.9 | 14 | 18.5 | 16.9 | 15.3 | 14.3 | 7.1 | 7.9 |
| Op. Profit Mgn % ⓘ | 8.8 | 7.4 | 7 | 4.4 | 5.6 | 4.8 | 4.2 | 4.5 | 4.1 | 3.6 | 3.7 |
| Net Profit Mgn % ⓘ | 2.9 | 2.4 | 2.5 | 1.8 | 2.6 | 2.7 | 2.6 | 2.7 | 2.6 | 2.2 | 2.9 |
| Debt to Equity ⓘ | 0.7 | 0.8 | 0.6 | 0.6 | 0.6 | 0.5 | 0.2 | 0.4 | 0.5 | 0.4 | - |
| Working Cap Days ⓘ | 142 | 132 | 110 | 88 | 96 | 67 | 66 | 80 | 91 | 132 | 88 |
| Cash Conv. Cycle ⓘ | 125 | 113 | 92 | 65 | 62 | 41 | 34 | 40 | 48 | 65 | 40 |
Valuation of Agarwal Indl. Corpn. - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 297 | 414 | 531 | 787 | 904 | 1,598 | 2,015 | 2,125 | 2,399 | 1,652 |
| Operating Expenses ⓘ + | 271 | 383 | 494 | 741 | 832 | 1,493 | 1,879 | 1,952 | 2,197 | 1,535 |
| Operating Profit ⓘ | 26 | 31 | 37 | 46 | 71 | 106 | 136 | 173 | 202 | 117 |
| Operating Profit Margin (%) | 8.8% | 7.4% | 7.0% | 5.9% | 7.9% | 6.6% | 6.7% | 8.1% | 8.4% | 7.1% |
| Other Income ⓘ + | 1 | 1 | 1 | 3 | 2 | 4 | 9 | 5 | 11 | 18 |
| Interest ⓘ | 7 | 9 | 9 | 9 | 10 | 12 | 12 | 21 | 30 | 28 |
| Depreciation ⓘ | 6 | 8 | 8 | 9 | 14 | 20 | 23 | 30 | 48 | 52 |
| Profit Before Tax ⓘ | 14 | 15 | 20 | 31 | 49 | 78 | 110 | 127 | 135 | 55 |
| Tax ⓘ | 5 | 4 | 7 | 6 | 8 | 14 | 18 | 18 | 19 | 12 |
| Profit After Tax | 9 | 10 | 13 | 26 | 41 | 64 | 92 | 109 | 116 | 44 |
| PAT Margin (%) | 3.0% | 2.5% | 2.5% | 3.3% | 4.5% | 4.0% | 4.6% | 5.1% | 4.8% | 2.6% |
| Adjusted EPS (₹) | 8.8 | 10.0 | 13.1 | 24.9 | 39.5 | 48.2 | 61.7 | 73.0 | 77.3 | 29.1 |
| Dividend Payout Ratio (%) | 17% | 15% | 13.70% | 6% | 4.60% | 4.20% | 4.10% | 4.10% | 4.30% | 11.30% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 107 | 118 | 134 | 158 | 196 | 290 | 404 | 511 | 627 | 689 | |
| Debt + | 66 | 84 | 68 | 86 | 122 | 134 | 111 | 286 | 348 | 261 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 2 | 14 | 7 | 43 | 34 | 55 | 164 | 217 | 257 | 148 | |
| Others Liabilities ⓘ | 26 | 22 | 19 | 14 | 43 | 64 | 71 | 106 | 112 | 104 | |
| Total Liabilities ⓘ | 201 | 238 | 227 | 300 | 395 | 543 | 750 | 1,120 | 1,344 | 1,202 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 44 | 62 | 57 | 102 | 159 | 219 | 341 | 589 | 690 | 717 | |
| CWIP ⓘ | 8 | 0 | 1 | 3 | 1 | 3 | 7 | 0 | 16 | 31 | |
| Investments ⓘ | 6 | 9 | 9 | 7 | 6 | 12 | 26 | 36 | 34 | 38 | |
| Inventories | 17 | 37 | 27 | 28 | 48 | 65 | 116 | 128 | 196 | 118 | |
| Trade Receivables | 105 | 113 | 113 | 138 | 135 | 161 | 194 | 266 | 270 | 152 | |
| Cash Equivalents | 6 | 5 | 3 | 8 | 32 | 50 | 34 | 62 | 53 | 73 | |
| Others Assets ⓘ | 15 | 13 | 17 | 14 | 15 | 33 | 33 | 40 | 85 | 73 | |
| Total Assets ⓘ | 201 | 238 | 227 | 300 | 395 | 543 | 750 | 1,120 | 1,344 | 1,202 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | -12 | 8 | 30 | 49 | 49 | 65 | 157 | 112 | 100 | 235 |
| Cash Flow From Investing Activity ⓘ + | -21 | -20 | -4 | -54 | -44 | -70 | -158 | -276 | -157 | -89 |
| Cash Flow From Financing Activity ⓘ + | 27 | 10 | -27 | 7 | 21 | 19 | -15 | 178 | 40 | -128 |
| Net Cash Flow ⓘ | -6 | -1 | -1 | 2 | 27 | 14 | -17 | 13 | -18 | 18 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 10.18 | 9.13 | 10.67 | 17.56 | 22.93 | 26.21 | 26.6 | 23.88 | 20.33 | 6.62 |
| ROCE (%) | 13.27 | 11.58 | 13.83 | 17.5 | 20.41 | 23.42 | 24.84 | 21.19 | 17.28 | 7.99 |
| Asset Turnover Ratio | 1.71 | 1.88 | 2.28 | 2.98 | 2.6 | 3.41 | 3.12 | 2.27 | 1.95 | 1.3 |
| PAT to CFO Conversion(x) | -1.33 | 0.8 | 2.31 | 1.88 | 1.2 | 1.02 | 1.71 | 1.03 | 0.86 | 5.34 |
| Working Capital Days | ||||||||||
| Receivable Days | 111.50 | 96.10 | 77.60 | 58.20 | 55.10 | 33.80 | 32.10 | 39.50 | 40.80 | 46.60 |
| Inventory Days | 15 | 23.80 | 22 | 12.70 | 15.20 | 12.90 | 16.40 | 20.90 | 24.60 | 34.60 |
| Payable Days | 3.40 | 9.30 | 8.90 | 13.90 | 19.20 | 12.40 | 23.90 | 41.20 | 46.10 | 60.60 |
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Agarwal Industrial Corporation Ltd FAQs
The current trading price of Agarwal Indl. Corpn. on 11-Sep-2026 16:59 is ₹430.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Agarwal Indl. Corpn. stood at ₹643.3 Cr
The latest P/E ratio of Agarwal Indl. Corpn. as of 10-Sep-2026 is 19.16.
The latest P/B ratio of Agarwal Indl. Corpn. as of 10-Sep-2026 is 1.49.
The 52-week high of Agarwal Indl. Corpn. is ₹1,002.7 and the 52-week low is ₹360.4.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Agarwal Indl. Corpn. is ₹1,159 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Agarwal Industrial Corporation Ltd is a average quality company.
The key valuation ratios of Agarwal Industrial Corporation Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Agarwal Industrial Corporation Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Agarwal Industrial Corporation Ltd
Agarwal Industrial Corporation Limited ( formerly known as Bombay Baroda Roadways (India) Limited), was promoted by Sh. Jaiprakash Agarwal, Sh. Lalit Agarwal, Sh. Mahendra Agarwal and Sh. Ramchandra Agarwal, brothers, in the year 1995 with the main objective to carry on the business of transportation of LPG and Bitumen throughout India. The Company is principally engaged in the business activities of manufacturing and trading of Petrochemicals (Bitumen and Bituminous Products), Logistics of Bitumen and Liquefied Petroleum Gas (LPG) and energy generation through Wind Mills.
The company came out with its maiden Public Issue in the year 1996 to expand its business operation by adding the fleet of LPG and Bitumen Tankers and thereafter, there was no looking back. As the company had clear vision to enlarge its activities from its modest origins in Transportation to Manufacturing of Bitumen & Bituminous Products, Power Generation through Wind Mills and to undertake agricultural activities, the company changed its name to “Agarwal Industrial Corporation Limited” from Bombay Baroda me Roadways (India) Limited in the year 2008, so as to reflect in the name of the company, the true nature of diversified activities it carries to the world at large.
Business area of the company
The company is well segmented company as it is engaged in varied business of (i) manufacturing and trading of Bitumen & value added Bituminous Products and has bulk bitumen storage facilities at Karwar, Haldia, Dighi and Hazira Gujarat. (ii) has large fleet of specialized Bulk Bitumen & LPG Tankers (Logistics) (iii) generates power through wind mills situated in Jaisalmer and Dhulia and last but not the least has an Authorized workshop of Ashok Leyland as Shahpur, Maharashtra.
Products
- Paving Grade Bitumen
- Industrial Grade Bitumen
- CRMB: Crumb Rubber Modified Bitumen
- PMB: Polymer Modified Bitumen
- Byproducts / Waterproofing Materials
- Bitumen Emulsion for Road Construction
- Bituminous Expansion Jointing Boards
Services
- Manufacturing and Trading of Bituminous Products
- Bulk Bitumen Transportation
- Wind Mills
- Authorized Service Centre of Ashok Leyland
- Bulk LPG Transportation
- Bulk Storage Terminals
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