NR Agarwal Industries Ltd
- P/E
- 17.6x
- 52-week range
- 385 – 834
- ROE
- 6%
- ROCE
- 8%
- Sector
- Paper, Forest & Jute Products
- Industry
- Paper & Paper Products
- Listed on
- NSE, BSE
About
N R Agarwal Industries Limited is an India-based company, which is a manufacturer of recycled paper in India and a manufacturer of gray back and white back duplex boards. The Company operates through the Paper and Paper Boards segment. It manufactures recycled paper-based products addressing four categories: duplex boards, writing and printing papers, copiers, and newsprint. The Company’s duplex board products include Coated Paper Board Gray Back (Chromo), Coated Paper Board White Back (Chromo), Coated Paper Board Gray Back (Diamond) and Coated Paper Board White Back (Diamond). Its writing and printing paper products include NR Excel Specification Sheet (SS), NR Excel, NR Maxima SS, NR Maxima, NR Classic, NR Shine SS and NR Shine. Its Copier products are NR Copier and NR Brilliance Copier. The Company has its manufacturing facilities located in Vapi and Sarigam, Gujarat.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Paper & Paper Products: 54 companies →NR Agarwal Industries Ltd against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)17.6 against a typical 16.6: pricier than most peers (1st = cheapest).28th of 52
- Sales growth+43.1% against a typical +10% from a year earlier.6th of 44
- Profit growth+105.9% against a typical +23% from a year earlier.10th of 33
- Share price, 3 months+43.8% against a typical −4.7%.3rd of 50
Latest announcements
Exchange filings and their impact on the company.
- N R Agarwal hires ex-ITC paper veteran to lead operations and projects.
N R Agarwal Industries appointed Mr. Makarand P. Barhanpurkar as Director - Operations & Project, designated as Senior Managerial Personnel, effective October 12, 2026. He is a mechanical engineer with over 36 years in pulp, paperboard and specialty paper, most recently Executive Vice President - Manufacturing and Projects at ITC's Paperboards and Specialty Papers Division. His project and manufacturing expertise could help improve plant efficiency and execute ongoing expansion work, with only a gradual benefit over the next year.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Adequate safety
Rated A- by ICRA- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| ICRA | [ICRA]A- | Stable | 16 Jul 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 16 Jul 2026 | Reaffirmed | [ICRA]A- | — | ICRA | ₹ 1,137.57 Cr. | |
| 25 Aug 2025 | ▼ Downgrade | [ICRA]A- | — | ICRA | ₹ 955.64 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 3 Nov 2026Upcoming | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 5 Aug 2026 | Financial Results | To consider and approve the un-audited financial results for the quarter ended Jun 30, 2026 |
| 12 May 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2026 and dividend |
| 11 Feb 2026 | Financial Results | To consider and approve the un-audited financial results for the period ended December 31, 2025 |
| 14 Nov 2025 | Financial Results | To consider and approve the un-audited financial results for the quarter and half year ended September 30, 2025 |
| 13 Aug 2025 | Financial Results | To consider and approve the un-audited financial results for the quarter ended June 30, 2025 |
| 28 May 2025 | Financial Results/Dividend | To consider and approve the following:1. Audited Financial Statements for the financial year ended March 31, 2025;2. Audited Financial Results for the quarter and year ended March 31, 2025;3. Declaration of dividend, if any, for the financial year 2024-25. |
Financials
Standalone figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 342 | 336 | 247 | 347 | 428 | 418 | 466 | 452 | 525 | 563 | 605 | 647 |
| Expenses | 294 | 288 | 213 | 319 | 401 | 389 | 438 | 436 | 481 | 506 | 549 | 573 |
| Operating Profit | 48 | 48 | 34 | 28 | 27 | 29 | 28 | 17 | 44 | 57 | 57 | 74 |
| OPM % | 14% | 14% | 14% | 8% | 6% | 7% | 6% | 3.6% | 8% | 10% | 9% | 11% |
| Other Income | 2 | 2 | 3 | 7 | 9 | 14 | 1 | 26 | −10 | 2 | 0 | 6 |
| Interest | 1 | 2 | 5 | 13 | 16 | 16 | 16 | 16 | 17 | 16 | 16 | 16 |
| Depreciation | 9 | 9 | 10 | 16 | 16 | 17 | 16 | 17 | 17 | 17 | 18 | 18 |
| Profit before tax | 39 | 39 | 21 | 6 | 4 | 9 | −3 | 10 | 0 | 26 | 24 | 46 |
| Tax % | 3% | 19% | 25% | 42% | −102% | −37% | 104% | −69% | 359% | 45% | 41% | 24% |
| Net Profit | 38 | 31 | 16 | 3 | 8 | 13 | −7 | 17 | −1 | 14 | 14 | 35 |
| EPS in Rs | 22.22 | 18.47 | 9.2 | 2 | 4.9 | 7.48 | −4.01 | 9.72 | −0.86 | 8.48 | 8.34 | 20.55 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 9%
- 5 Years
- 13%
- 3 Years
- 7%
- TTM
- 33%
- 10 Years
- 10%
- 5 Years
- −3%
- 3 Years
- −22%
- TTM
- 114%
- 10 Years
- 15%
- 5 Years
- 10%
- 3 Years
- 18%
- TTM
- —
- 10 Years
- 16%
- 5 Years
- 11%
- 3 Years
- 9%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| NR Agarwal Industries Ltd | ₹ 674.05 | — | 17.6x | — | 6% | — |
| Aditya Birla Real Estate | ₹ 1,043.35 | ₹ 11,654 Cr. | — | 3.8x | 0% | 0% |
| JK Paper | ₹ 356.65 | ₹ 6,450 Cr. | 26.5x | 1.4x | 0% | 0% |
| West Coast Paper Mills | ₹ 796.95 | ₹ 5,287 Cr. | 31.2x | 1.3x | 0% | 0% |
| GHV Infra Projects | ₹ 244.90 | ₹ 1,937 Cr. | 43.4x | 15.7x | 0% | 0% |
| KS Smart Technologies Ltd | ₹ 77.34 | ₹ 1,269 Cr. | 12.5x | 6.4x | 0% | 0% |
Management
- Rajendra Nagin Agarwal
- Executive Chairman of the Board, Managing Director
- Praveen K. Mundra
- Chief Financial Officer, Whole Time Director
- Manoj Chauhan
- Chief Marketing & Business Transformation
- Pooja Hitesh Daftary
- Compliance Officer, Company Secretary
- Raunak R. Agarwal
- Deputy Managing Director, Whole Time Director
- Rohan Agarwal
- Deputy Managing Director, Whole Time Director
- Reena Rajendra Agarwal
- Executive Director
Prices are delayed and for information only. Nothing on this page is investment advice.