Agarwal Industrial Corporation Limited (AGARIND) AI Stock Analysis

• Market Cap: ₹13.90B
• Dividend Yield: 0.36%
• Average Volume (3M): 5.51K
• Price to Earnings (P/E): 15.5
• Beta (1Y): 1.24
• Revenue Growth: 3.65%
• EPS Growth: -25.64%
• Country: IN
• Employees: 129
• Sector: Industrials
• Sector Strength: 72
• Industry: Chemicals - Specialty
• EPS (TTM): 8.71
• Shares Outstanding: 14,957,789
• 10 Day Avg. Volume: 5,035
• 30 Day Avg. Volume: 5,513
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,031.00
• Price Target Upside: 10.97% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 68 Neutral
• Price Target: ₹1,031.00 ▲(10.97% Upside)

Agarwal Industrial Corporation shows strong financial performance with robust revenue and profit growth, though high capital expenditures have led to negative Free Cash Flow. Technical indicators suggest the stock is nearing overbought territory, which could limit short-term upside. The valuation is reasonable, but the low dividend yield may not attract income-focused investors. Overall, the company is on a positive trajectory, but caution is advised due to technical signals.

Agarwal Industrial Corporation Limited Business Overview & Revenue Model

Company Description

Agarwal Industrial Corporation Limited primarily manufactures and trades in petrochemicals in India. The company operates through Petrochemical Business, Transportation, and Sale of Power segments. Its products include paving grade bitumen, industrial-grade bitumen, viscosity grade bitumen, bitumen emulsions for road construction, crumb rubber modified bitumen, polymer modified bitumen, byproducts/waterproofing materials, bituminous felt, bituminous expansion jointing boards, bitumen coats and paints, bitumen insulation materials, bitubonds, bituplasts, bituminous blacks, bitukotes, bitupremier, and cable compounds. The company also transports bulk bitumen and bulk LPG; and generates power through windmills, as well as imports and stores bitumen. The company was formerly known as Bombay Baroda Roadways (India) Limited and changed its name to Agarwal Industrial Corporation Limited in March 2008. Agarwal Industrial Corporation Limited was incorporated in 1995 and is based in Mumbai, India.

How the Company Makes Money

Agarwal Industrial Corporation Limited generates revenue through the production and sale of bitumen and its derivatives. The company's primary revenue streams include the sale of bitumen and bitumen-based products to construction companies and government agencies involved in road infrastructure projects. It also earns income from providing logistics services, leveraging its transportation fleet to distribute products efficiently. Strategic partnerships with infrastructure companies and government contracts play a significant role in its revenue, ensuring steady demand for its products. The company's ability to maintain quality and timely delivery contributes to its competitive edge in the market.

Agarwal Industrial Corporation Limited Financial Statement Overview

Summary

Agarwal Industrial Corporation shows strong revenue and profit growth with improving margins. However, high capital expenditures have led to negative Free Cash Flow, posing a potential risk. The company maintains a solid equity base and manages leverage well, but there is room for improvement in generating higher returns on equity.

Income Statement

Agarwal Industrial Corporation shows strong growth in revenue and profitability. The revenue has steadily increased from 2020 to 2025, driven by rising Gross and EBIT margins. The Gross Profit Margin increased significantly from 6.26% in 2020 to 22.15% in 2025, and the Net Profit Margin improved from 3.25% to 4.80% over the same period. However, EBITDA margin decreased in 2025 as compared to EBIT margin, indicating higher depreciation and amortization costs.

Balance Sheet

The company's balance sheet reflects a stable growth trajectory, with assets and equity increasing significantly over the years. The Debt-to-Equity ratio improved, indicating better leverage management, though it remains relatively high. The Equity Ratio improved from 52.50% in 2020 to 46.65% in 2025, demonstrating a solid equity base. However, the Return on Equity was moderate at 18.44% in 2025, showing room for improvement in generating returns from equity.

Cash Flow

Operating Cash Flow has been positive and generally stable, but Free Cash Flow has been negative in recent years due to significant capital expenditures. The Operating Cash Flow to Net Income Ratio was 0.86 in 2025, indicating efficient cash conversion from profits. Nonetheless, the Free Cash Flow to Net Income Ratio is negative, suggesting a need for better management of capital expenditures and cash generation.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	24.04B	24.09B	21.25B	20.15B	15.98B	9.04B
Gross Profit	5.15B	5.34B	1.75B	1.62B	1.39B	895.22M
EBITDA	2.11B	2.06B	1.78B	1.45B	1.08B	725.91M
Net Income	1.16B	1.16B	1.09B	922.58M	636.89M	405.33M
Balance Sheet
Total Assets	13.45B	13.45B	11.20B	7.50B	5.43B	3.95B
Cash, Cash Equivalents and Short-Term Investments	868.33M	868.33M	980.13M	591.31M	624.66M	382.57M
Total Debt	4.35B	4.35B	3.61B	1.58B	1.71B	1.50B
Total Liabilities	7.18B	7.18B	6.09B	3.46B	2.49B	1.99B
Stockholders Equity	6.27B	6.27B	5.11B	4.04B	2.95B	1.96B
Cash Flow
Free Cash Flow	0.00	-650.12M	-1.58B	79.70M	-8.60M	28.70M
Operating Cash Flow	0.00	998.41M	1.12B	1.57B	646.82M	494.84M
Investing Cash Flow	0.00	-1.57B	-2.76B	-1.58B	-696.48M	-436.96M
Financing Cash Flow	0.00	395.01M	1.96B	-154.16M	190.07M	213.49M

Agarwal Industrial Corporation Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 929.05
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AGARIND, the sentiment is Neutral. The current price of 929.05 is above the 20-day moving average (MA) of 899.94, above the 50-day MA of 904.99, and below the 200-day MA of 1010.28, indicating a neutral trend. The MACD of 24.49 indicates Negative momentum. The RSI at 53.17 is Neutral, neither overbought nor oversold. The STOCH value of 55.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:AGARIND.

Agarwal Industrial Corporation Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INDNIPPON	68 Neutral	21.15B	24.21	11.57%	1.35%	17.61%	28.12%
AGARIND	68 Neutral	₹13.90B	15.49	―	0.36%	3.65%	-25.64%
SALZERELEC	61 Neutral	13.77B	19.80	8.45%	0.32%	21.71%	35.01%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Agarwal Industrial Corporation Limited Corporate Events

Agarwal Industrial Corporation Announces 31st AGM

Agarwal Industrial Corporation Limited announced the prior intimation of its 31st Annual General Meeting (AGM) through a newspaper notice, in compliance with SEBI regulations. This AGM is a significant event for the company as it provides a platform for shareholders to engage with the company’s management and discuss future strategies. The notice, published in Business Standard and Pratah Kal, is part of the company’s commitment to transparency and regulatory compliance, potentially strengthening its relationship with stakeholders.

Agarwal Industrial Corporation Appoints Interim Compliance Officer

Agarwal Industrial Corporation Limited announced a change in its Company Secretary and Compliance Officer, following the unexpected resignation of the previous officer due to personal reasons. To maintain compliance with SEBI regulations, the company appointed Mr. Vipin Agarwal as the Interim Compliance Officer, effective February 21, 2025, until a new qualified officer is appointed.

Agarwal Industrial Corporation Releases Q1 FY26 Financial Results

Agarwal Industrial Corporation Limited has released its investor presentation for the quarter ended June 30, 2025, highlighting its unaudited financial results. This announcement is part of the company’s compliance with regulatory requirements and is significant for stakeholders as it provides insights into the company’s financial performance and strategic positioning in the petrochemical and logistics sectors.