
Agarwal Industrial Corporation Ltd.
AGARINDNSECrude OilPetrochemicalsSmall Cap
₹547.8
▼ 0.47%
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48
Composite
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.
Q-DITS fundamental score
48Composite
Growth
7
Profitability
48
Valuation
68
Quality
53
Solvency
90
Earnings
100
Key metrics
MCap
₹823 Cr
TTM PE
18.9x
Industry PE
26.6x
TTM EPS
₹29.13
Book Value
₹460.64
Face Value
₹10
Div Yield
0.6%
PEG
-0.85x
PB
2.3x
ROE
20.3%
ROCE
17.3%
EBITDA mgn
8.9%
D/E
0.68
Int. Cover
5.5x
Curr. Ratio
1.17x
EPS
₹77.34
Growth — CAGR across horizons
| Metric | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|
| Net Sales | -31.1% | -6.4% | 12.8% | 23.9% |
| EBITDA | -42% | -4.7% | 10.5% | 21.5% |
| Net Profit | -62.3% | -22.1% | 1.5% | 22.4% |
Score snapshot
Piotroski
5/9
Altman Z
3.17
Quality
53
Growth
6.6
Valuation
68
Earn. Qual
100
PEAD
-2
SURGE
-2
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Revenue, profitability & returns
Revenue & Net Profit (₹ Cr)
RevenueNet Profit
Margins (%)
EBITDA%PAT%
Return ratios (%)
ROEROCEROA
Annual financials — last 10 years
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| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ›RevenueCr | 281 | 297 | 414 | 531 | 787 | 904 | 1,598 | 2,015 | 2,125 | 2,399 | |
| ›EBITDACr | 22 | 27 | 32 | 38 | 49 | 73 | 110 | 145 | 178 | 213 | |
| ›EBITDA margin | 7.8% | 9.1% | 7.6% | 7.1% | 6.2% | 8.1% | 6.9% | 7.2% | 8.4% | 8.9% | |
| ›Net profitCr | 7 | 9 | 10 | 13 | 26 | 41 | 64 | 92 | 109 | 116 | |
| ›PAT margin | 2.4% | 3% | 2.5% | 2.5% | 3.2% | 4.5% | 4% | 4.6% | 5.1% | 4.8% | |
| ›EPS₹ | ₹8.58 | ₹8.82 | ₹10.02 | ₹13.11 | ₹24.91 | ₹39.51 | ₹48.22 | ₹61.68 | ₹73.02 | ₹77.34 | |
| ›Revenue growth | 25.2% | 5.7% | 39.3% | 28.4% | 48.1% | 14.9% | 76.8% | 26.1% | 5.5% | 12.9% | |
| ›PAT growth | 16.9% | 30.5% | 14.7% | 30.8% | 90.1% | 58.6% | 57.1% | 44.9% | 18.4% | 5.9% | |
| ›ROE | 12.2% | 10.2% | 9.1% | 10.7% | 17.6% | 22.9% | 26.2% | 26.6% | 23.9% | 20.3% | |
| ›ROCE | 14.9% | 13.3% | 11.6% | 13.8% | 17.5% | 20.4% | 23.4% | 24.8% | 21.2% | 17.3% | |
| ›ROA | 5.7% | 5.1% | 4.7% | 5.8% | 9.7% | 11.7% | 13.6% | 14.3% | 11.7% | 9.4% | |
| ›P/E | 14.9x | 68.6x | 33.8x | 12.6x | 1.8x | 4x | 14x | 9.2x | 11x | 12.6x | |
| ›P/B | 1.5x | 5.8x | 2.9x | 1.3x | 0.3x | 0.8x | 3.1x | 2.1x | 2.3x | 2.3x | |
| ›D/E | 0.9 | 0.7 | 0.8 | 0.6 | 0.6 | 0.7 | 0.5 | 0.3 | 0.7 | 0.7 | |
| ›Current ratio | 1.6x | 1.9x | 1.8x | 2x | 1.4x | 1.7x | 1.6x | 1.5x | 1.2x | 1.2x | |
| ›Interest cover | 2.5x | 3x | 2.7x | 3.2x | 4.5x | 5.9x | 7.3x | 10x | 7.1x | 5.5x |
Quarterly results
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| Metric | Trend | 2023-12 | 2024-03 | 2024-06 | 2024-09 | 2024-12 | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ›RevenueCr | 488 | 776 | 708 | 326 | 542 | 823 | 594 | 245 | 408 | 405 | |
| ›Rev growth YoY | -11.6% | 17.7% | 12.6% | 40.4% | 11% | 6.1% | -16.1% | -24.8% | -24.7% | -50.8% | |
| ›EBITDACr | 44 | 60 | 60 | 35 | 53 | 54 | 36 | 28 | 21 | 32 | |
| ›EBITDA margin | 9.1% | 7.7% | 8.5% | 10.8% | 9.8% | 6.5% | 6.1% | 11.4% | 5.1% | 8% | |
| ›Net profitCr | 28 | 38 | 39 | 18 | 28 | 31 | 13 | 12 | 3 | 16 | |
| ›PAT growth YoY | 9.6% | 34.3% | 41.4% | 15.2% | 0.3% | -19.6% | -66.6% | -35% | -89.9% | -48.4% | |
| ›EPS₹ | ₹18.47 | ₹25.41 | ₹26.07 | ₹12.33 | ₹18.52 | ₹20.42 | ₹8.71 | ₹8.02 | ₹1.87 | ₹10.53 |
Balance sheet — last 10 years (₹ Cr)
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| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ›Shareholders' equityCr | 111 | 122 | 134 | 158 | 196 | 295 | 404 | 511 | 627 | 689 | |
| ›ReservesCr | 96 | 108 | 123 | 147 | 186 | 277 | 389 | 496 | 612 | 674 | |
| ›Total borrowingsCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| ›InvestmentsCr | 7 | 10 | 10 | 8 | 10 | 20 | 30 | 40 | 58 | 0 | |
| ›Total assetsCr | 119 | 135 | 139 | 160 | 252 | 346 | 488 | 689 | 814 | 1,202 | |
| ›Current assetsCr | 148 | 175 | 169 | 194 | 232 | 314 | 397 | 527 | 614 | 441 | |
| ›Current liabilitiesCr | 79 | 99 | 84 | 136 | 139 | 193 | 258 | 427 | 527 | 383 | |
| ›Trade payablesCr | 2 | 14 | 7 | 43 | 34 | 55 | 164 | 217 | 258 | 148 | |
| ›Gross blockCr | 50 | 76 | 79 | 132 | 198 | 267 | 408 | 684 | 823 | 687 |
Cash flow statement (₹ Cr)
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| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ›Operating CF (CFO)Cr | -12 | 8 | 30 | 49 | 49 | 65 | 157 | 112 | 100 | 235 | |
| ›Investing CF (CFI)Cr | -21 | -20 | -4 | -54 | -44 | -70 | -158 | -276 | -157 | -89 | |
| ›Financing CF (CFF)Cr | 27 | 10 | -27 | 7 | 21 | 19 | -15 | 178 | 40 | -128 | |
| ›Net cash changeCr | -6 | -1 | -1 | 2 | 27 | 14 | -17 | 13 | -18 | 18 | |
| ›Closing cashCr | 5 | 4 | 2 | 5 | 32 | 46 | 29 | 43 | 25 | 43 |
Cash flow components
CFO · CFI · CFF (₹ Cr)
CFOCFICFF
Q-DITS scorecard
Composite score
48
Quality (25%)53
Growth (25%)6.6
Valuation (20%)68
Piotroski (15%)56
Earnings Quality (10%)100
Momentum (5%)—
Weighted blend, rescaled to the components available for this stock.
Piotroski F-Score
5/9
✓ROA positiveROA 9.39%
✓CFO positiveCFO ₹234.91 Cr
✗ROA improving11.68% → 9.39%
✓CFO > PAT (low accruals)CFO 234.91 vs PAT 115.69
✗Leverage decreasedD/E 0.68 → 0.68
✗Liquidity improvedCR 1.23 → 1.17
✓No share dilutionEPS 73.02 → 77.34
✓Margin improvedEBITDA mgn 8.38% → 8.87%
✗Asset turnover upAsset TO 2.27 → 1.95
Altman Z-Scoresafe
3.17
X1
0.048
X2
0.561
X3
0.137
X4
0.573
X5
1.996
>2.9 safe · 1.23–2.9 grey · <1.23 distress
Quality
53/100
ROE
20.3%
ROCE
17.3%
Margin
4.8%
Debt
0.7
Int. cover
5.5x
Growth
6.6/100
Revenue 3Y
-6.4%
Profit 3Y
-22.1%
EPS
5.9%
Valuation
68/100
PE
12.6x
PB
2.3x
EV/EBITDA
8.6x
vs universe median: PE 25.6x · PB 2.81x · EV 13.41x
Earnings quality
100/100
CFO₹235 Cr
PAT₹116 Cr
Accrual ratio-0.099
CFO/PAT2.03x
PEAD · SURGE
-2 / -2
Revenue SUE-2.51
EPS SUE-0.64
Latest quarter2026-03
Rev growth YoY-50.8%
Documents & filings
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Peer comparison
| Company | MCap (Cr) | Revenue | PAT | PE | PB | ROE% | ROCE% | D/E |
|---|---|---|---|---|---|---|---|---|
| Supreme Petrochem Ltd. | 14,120 | 5,406 | 330 | 42.9x | 6x | 25.3 | 33.6 | 0 |
| Rain Industries Ltd. | 6,411 | 17,699 | 406 | 21.3x | 0.8x | 1.9 | 8.8 | 1.21 |
| Tamilnadu Petroproducts Ltd. | 811 | 1,466 | 97 | 8.3x | 0.8x | 6.6 | 9 | 0.13 |
| Kothari Petrochemicals Ltd. | 722 | 591 | 72 | 10x | 1.9x | 23.8 | 30.1 | 0 |
| Neptune Petrochemicals Ltd. | 442 | 1,052 | 30 | 14.6x | 2.6x | 50.8 | 62.3 | 0.16 |
| Multibase India Ltd. | 226 | 67 | 10 | 21.6x | 2.5x | 13.8 | 18.5 | 0 |
| Greenhitech Ventures Ltd. | 68 | 19 | 1 | 51.4x | 0.7x | 17.5 | 18.7 | 0.45 |