N R Agarwal Industries Limited (NRAIL)

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N R Agarwal Industries Limited (NRAIL) · mywealthgrid

About

N R Agarwal Industries Limited manufactures paper and paper products, operating in the Materials sector with a market capitalization of ₹890.72 crore. The company is positioned as a mid-scale player in India's paper industry.

Face value: ₹10

Market cap

₹1,121 Cr

P/E

18.0×

P/B

1.4×

Dividend yield

0.6%

ROE

5.5%

ROCE

8.8%

Debt / equity

0.97

OPM

8.1%

EPS (TTM)

₹36.5

Book value

₹479.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins remain thin at 8.13% on average (ranged 3.65% to 11.48% over recent quarters), leaving limited buffer for cost shocks
Profitability is volatile: the September 2025 quarter posted a net loss of ₹1.47 crore despite generating ₹524.68 crore in revenue
Institutional investor participation is minimal (FII 0.34%, DII 0.01%), potentially limiting liquidity and price support during market stress
Debt-to-equity ratio of 0.97 is moderate; verify sensitivity to raw-material and working-capital cycles typical in paper manufacturing

Generated analysis · source review pending

Growth drivers

Revenue expanded 87% to ₹646.96 Cr (Jun 2026) from ₹346.98 Cr (Jun 2024)
Operating margin jumped from 3.65% (Jun 2025) to 11.48% (Jun 2026), indicating improved operational control
EPS doubled from ₹9.72 (Jun 2025) to ₹20.55 (Jun 2026)
Stock returned 40.09% over one year; verify if this reflects structural gains or cyclical sentiment

Generated analysis · source review pending

2,342 historical price candles were omitted because the exchange source has not been verified.

₹659.5-0.2%1Y

Quick read

rule-based

Pros

+High promoter holding of 74.3% with no pledge

Cons

−Low return on equity of 8.6% (3-yr avg)
−Profit declined 5.3% a year over the last 5 years
−Low dividend payout of 10.9% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

51/100

Business quality: 17
Growth: 57
Valuation: 79

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jk Paper LimitedJKPAPERJKPAPER	₹6,937 Cr	₹9,373 Cr	₹7,365 Cr	₹968 Cr	13.1%	₹324 Cr	3.9%	7.4%	4.9%	69
West Coast Paper Mills LimitedWSTCSTPAPRWSTCSTPAPR	₹4,802 Cr	₹5,116 Cr	₹4,389 Cr	₹505 Cr	9.7%	₹237 Cr	3.6%	6%	4.4%	106
Seshasayee Paper And Boards LimitedSESHAPAPERSESHAPAPER	₹1,491 Cr	₹1,491 Cr	₹1,817 Cr	₹119 Cr	5.6%	₹99 Cr	4.8%	4.6%	4.1%	79
Andhra Paper LimitedANDHRAPAPANDHRAPAP	₹1,419 Cr	₹1,652 Cr	₹1,702 Cr	₹82 Cr	4%	₹28 Cr	1.1%	2%	1%	68
N R Agarwal Industries LimitedNRAILNRAIL	₹1,121 Cr	₹1,910 Cr	₹2,340 Cr	₹232 Cr	8.1%	₹62 Cr	2%	8.8%	5.5%	44
Tamil Nadu Newsprint & Papers LimitedTNPLTNPL	₹1,022 Cr	₹2,620 Cr	₹4,649 Cr	₹494 Cr	10.4%	₹261 Cr	5.3%	7%	11.3%	-31
Pudumjee Paper Products LimitedPDMJEPAPERPDMJEPAPER	₹907 Cr	₹930 Cr	₹814 Cr	₹125 Cr	15.3%	₹91 Cr	11.6%	17.8%	14.9%	91
Emami Paper Mills LimitedEMAMIPAPEMAMIPAP	₹707 Cr	₹1,524 Cr	₹2,008 Cr	₹241 Cr	10.3%	₹94 Cr	3.2%	14%	9.8%	107
Satia Industries LimitedSATIASATIA	₹683 Cr	₹982 Cr	₹1,443 Cr	₹119 Cr	9.1%	₹-8 Cr	2.8%	4.6%	3.8%	110
Kuantum Papers LimitedKUANTUMKUANTUM	₹670 Cr	₹1,530 Cr	₹1,174 Cr	₹162 Cr	14.8%	₹36 Cr	3.8%	5.4%	3.4%	77
Shree Rama Newsprint LimitedRAMANEWSRAMANEWS	₹433 Cr	₹810 Cr	₹33 Cr	₹-2 Cr	0.7%	₹-69 Cr	-209.4%	0.8%	—	-50
Orient Paper & Industries LimitedORIENTPPRORIENTPPR	₹344 Cr	₹631 Cr	₹895 Cr	₹-32 Cr	-4.2%	₹-71 Cr	-3.2%	-4.2%	-1.9%	32

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	890	300	300	1,318	1,405	1,146	1,617	1,766	1,293	1,659	2,145
COGS	-549	173	173	763	43	659	1,010	1,097	720	1,044	1,444
Gross profit	—	127	127	556	1,362	487	607	669	573	616	701
	1,367	90	90	371	1,153	354	464	484	397	504	527
	72	37	37	184	209	133	143	185	176	111	174
OPM %	8.1%	12.3%	12.3%	14%	14.9%	11.6%	8.8%	10.5%	13.6%	6.7%	8.1%
Depreciation	23	6	6	27	32	33	34	36	37	66	69
Interest	46	10	10	35	36	30	25	14	11	61	64
	1	-0	-0	8	12	8	11	12	9	31	18
Profit before tax	4	20	20	131	154	78	95	148	138	16	60
Tax	—	21	21	36	44	20	34	48	12	-2	16
Tax %	—	102%	102%	27.6%	28.8%	26.3%	35.5%	32.8%	8.8%	-10.6%	26.7%
	18	-0	-0	95	110	57	61	99	125	18	44
PAT margin %	2%	-0.1%	-0.1%	7.2%	7.8%	5%	3.8%	5.6%	9.7%	1.1%	2%
EPS (₹)	10.5	-0.2	-0.2	55.6	68.6	33.6	35.9	58.4	73.7	10.4	25.7
EPS adjusted (₹)	—	-0.2	-0.2	55.6	64.4	33.6	35.9	58.3	73.7	10.4	25.7
	0%	—	—	7.2%	0%	3%	0%	0%	2.7%	19.3%	7.8%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	17	17	17	17	17	17	17	17	17	17
Reserves	67	202	295	402	459	519	619	743	758	798
	335	241	241	173	112	143	135	553	621	789
	249	243	251	273	345	322	271	254	374	427
Total equity & liabilities	667	703	805	865	933	1,001	1,041	1,567	1,770	2,031
	447	464	527	548	584	501	483	1,135	1,197	1,221
CWIP	24	21	21	20	28	28	122	29	20	227
Investments	0	0	0	0	0	0	1	21	101	13
	195	218	257	297	321	471	435	381	452	571
Total assets	667	703	805	865	933	1,001	1,041	1,567	1,770	2,031

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	42.2%	97%	42.5%	37.5%	37.9%	44.3%	37.1%	32.7%

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.96%	73.96%	73.96%	73.96%	73.96%	73.96%	73.96%	73.96%	74.11%	74.11%	74.29%	74.29%
	0.21%	0.39%	0.41%	0.46%	0.43%	0.41%	0.39%	0.4%	0.39%	0.41%	0.39%	0.34%
	0.01%	0.01%	0.01%	0.02%	0.02%	0.17%	0.12%	0.04%	0.04%	0.04%	0.02%	0.01%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	25.82%	25.64%	25.62%	25.56%	25.59%	25.46%	25.53%	25.6%	25.46%	25.44%	25.3%	25.36%
No. of shareholders	—	—	—	—	—	—	—	—	8,683	8,233	7,886	7,633

Promoter holding up 0.33 percentage points since Sep 2023.

3 disclosures

Person	Deal	Shares	Value	Holding	Filed
REERA HOLDINGS PRIVATE LIMITEDPromoter Group	BuyMarket Purchase	10,000	₹41.44 L	0.49% → 0.55%	1 Oct 20257(2)
REERA HOLDINGS PRIVATE LIMITEDPromoter Group	BuyMarket Purchase	5,000	₹18.84 L

Mr. RAJENDRA NAGIN AGARWALExecutive Director-Chairperson related to Promoter-MD
Mrs. REENA RAJENDRA AGARWALExecutive Director
Mr. RAUNAK AGARWALExecutive Director
Mr. ROHAN AGARWALExecutive Director
Mr. PRAVEEN KUMAR MUNDRAExecutive Director
Mr. RAJIV KUMAR BAKSHINon-Executive - Independent Director
Mrs. SUNITA A NAIRNon-Executive - Independent Director
Mr. KANHAIYALAL CHUNNILAL CHANDAKNon-Executive - Independent Director
Mr. SANJAY SINHANon-Executive - Independent Director
Mr. MAHENDRA KUMAR GUPTANon-Executive - Independent Director
Ms. Pooja DaftaryCompany Secretary & Compliance Officer

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in N R Agarwal Industries Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

13

Final dividend25 Aug 2026 · ex-date₹2
Final dividend17 Sept 2025 · ex-date₹2
Final dividend16 Aug 2024 · ex-date₹2
Final dividend21 Sept 2021 · ex-date₹1
Final dividend6 Sept 2019 · ex-date₹4
Final dividend18 Sept 2018 · ex-date₹3
Dividend dividend12 Sept 2017 · ex-date₹2
Dividend dividend14 Aug 2012 · ex-date₹1.2
Dividend dividend18 Aug 2011 · ex-date₹1.8
Final dividend7 Sept 2010 · ex-date₹1.8
Final dividend17 Sept 2009 · ex-date₹1
Final dividend2 Sept 2008 · ex-date₹1.2
Dividend dividend21 Sept 2007 · ex-date₹1.5

1

Board meeting to consider results5 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

6 announcementsExport CSV

10 Sept 2026, 11:51 amCompany Update

Clarification On Price Movement

General PDF

9 Sept 2026, 5:11 pmCompany Update

Clarification sought from NR Agarwal Industries Ltd

Clarification

3 Sept 2026, 3:32 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

2 Sept 2026, 6:59 pmCompany Update

Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association

Amendments to Memorandum & Articles of Association PDF

2 Sept 2026, 6:35 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

1 Sept 2026, 3:55 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

Date	Category	Subject	Filing
10 Sept 2026, 11:51 am	Company Update General	Clarification On Price Movement	PDF
9 Sept 2026, 5:11 pm	Company Update Clarification	Clarification sought from NR Agarwal Industries Ltd

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	42.2%	97%	42.5%	37.5%	37.9%	44.3%	37.1%	32.7%

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	91	104	112	191	116	96	129	135	176	95
	-14	-47	-85	-52	-48	-41	-96	-548	-175	-188
	-78	-55	-29	-139	-67	-55	-25	405	-1	96
Net cash flow	-1	3	-2	-0	2	-0	8	-8	0	3
Free cash flow	91	104	112	191	66	54	-65	-399	56	-199
CFO / Operating profit %	246.3%	283.1%	60.9%	91.6%	87.6%	67%	69.8%	76.7%	158.6%	54.4%

Leverage
Current ratio	1.1	1.32	1.03	1.13	2.26	1.6	1.33	1.15

Return ratios
Return on assets %	11.8%	12.7%	6.1%	6.1%	9.5%	8%	1%	2.2%

N R Agarwal Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Events

13

1

Announcements

Not in the F&O segment

No fund holdings on record

13

1

Announcements

Annual reports

Credit ratings

Compounded sales growth

Compounded profit growth

Return on equity

Working capital
Receivable days	33	31	39	38	29	25	41	42

N R Agarwal Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Events

Dividends13

Board meetings1

Announcements

Not in the F&O segment

No fund holdings on record

Quarterly record

Insider dealing

Board and management

Ratio timeline

Dividends13

Board meetings1

Announcements

Annual reports

Credit ratings

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

13

1

13

1