N R Agarwal Inds Ltd
NSE: NRAIL · Paper & Paper Products · sector
₹659.30NSE close 2026-10-26
Key numbers
Market cap₹1,122 cr
Price₹659.30
52w high / low₹834 / ₹385
P/E18.1xSector median 13.8x
P/B1.4xSector median 0.6x
Book value₹479.1
Dividend yield0.31%Sector median 1.38%
ROE7.8%Sector median 5.8%
ROCE10.0%Sector median 5.9%
OPM9.7%Sector median 8.2%
Debt / equity0.97xSector median 0.42x
EV/EBITDA8.3xSector median 8.0x
Interest cover2.5x
Current ratio1.15x
Sales growth 3y+6.7%Sector median -4.5%
Profit growth 3y-23.9%Sector median -13.6%
PEG–
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 40 companies in Paper & Paper Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹18 cr vs borrowings ₹789 cr (FY26): borrowings are higher by ₹771 cr.
- Borrowings rose in each of the last 3 years (₹134 cr → ₹789 cr).
- Operating profit covered interest 2.5x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 0 of the last 5 years.
- Net loss in 2 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 6% of net profit in the last 12 months.
- Debtor days went from 25 (FY24) to 42 (FY26).
- Dividend paid in 3 of the last 5 financial years.
- Price ₹659.30 on 2026-10-26: -20.9% from the 52-week high, +71.2% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹731.75 · low ₹229.00
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 428 | 418 | 466 | 452 | 525 | 563 | 605 | 647 |
| EBITDA | 27 | 29 | 28 | 17 | 39 | 56 | 57 | 74 |
| OPM % | 6.3% | 6.8% | 5.9% | 3.7% | 7.5% | 10.0% | 9.4% | 11.5% |
| Other income | 9 | 14 | 1 | 26 | -6 | 3 | 0 | 6 |
| Net profit | 8 | 13 | -7 | 17 | -1 | 14 | 14 | 35 |
| EPS (₹) | 4.90 | 7.48 | -4.01 | 9.72 | -0.87 | 8.48 | 8.34 | 20.55 |
| Revenue YoY | +22.5% | +34.8% | +30.0% | +43.1% | ||||
| Profit YoY | -117.6% | +13.4% | – | +111.4% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,617 | 1,766 | 1,293 | 1,659 | 2,145 | 2,340 |
| EBITDA | 143 | 185 | 176 | 111 | 169 | 227 |
| Net profit | 61 | 99 | 125 | 18 | 44 | 62 |
| EPS (₹) | 35.85 | 58.35 | 73.72 | 10.37 | 25.68 | 36.50 |
| Revenue growth | +9.3% | -26.8% | +28.3% | +29.3% | +32.6% | |
| Profit growth | +62.7% | +26.3% | -85.9% | +147.6% | +101.7% | |
| Dividend / share (₹) | 1.00 | – | – | 2.00 | 2.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +6.7% | +13.4% | +32.7% |
| Net profit | -23.9% | -5.3% | +101.7% |
| EPS | -23.9% | +35.9% | – |
| Share price | – | +40.2% (2y) | +43.8% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 636 | 760 | 775 | 815 |
| Borrowings | – | 134 | 553 | 621 | 789 |
| Cash & equivalents | – | 50 | 18 | 74 | 18 |
| Total assets | – | 1,041 | 1,567 | 1,770 | 2,031 |
| Fixed assets | – | 450 | 1,104 | 1,171 | 1,185 |
| Capital work in progress | – | 122 | 29 | 20 | 227 |
| Investments | – | 1 | 21 | 28 | 0 |
| Receivables | – | 138 | 87 | 186 | 247 |
| Inventory | – | 130 | 169 | 168 | 254 |
| Payables | – | 95 | 63 | 230 | 247 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 95 | 129 | 135 | 176 | 95 |
| Cash from investing | -41 | -96 | -548 | -175 | -188 |
| Cash from financing | -55 | -25 | 405 | -1 | 96 |
| Capex | 42 | 194 | 534 | 120 | 294 |
| Free cash flow | 53 | -65 | -399 | 56 | -199 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 15.6% | 16.5% | 2.3% | 5.4% |
| ROCE % | – | 21.0% | 11.3% | 5.5% | 7.7% |
| Debtor days | – | 29 | 25 | 41 | 42 |
| Inventory days | – | 43 | 86 | 59 | 64 |
| Payable days | – | 32 | 32 | 81 | 62 |
| Cash conversion cycle (days) | – | 40 | 79 | 19 | 44 |
| Working capital days | – | 39 | 38 | 28 | 13 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 74.29% |
| FIIs | 0.34% |
| DIIs | 0.07% |
| Public (non-institutions) | 25.30% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 73.96% | 73.96% | 73.96% | 74.11% | 74.11% | 74.29% | 74.29% | 74.29% |
| Promoter group | % |
|---|---|
| Rajendra Nagin Agarwal | 47.05% |
| Reena Rajendra Agarwal | 26.67% |
| Reera Holdings Private Limited | 0.55% |
| Rohan Rajendra Agarwal | 0.01% |
| Raunak Agarwal | 0.01% |
| Public holders above 1% | % |
|---|---|
| Mukul Mahavir Agrawal | 2.06% |
| Devendra Bankatlal Rathi | 1.80% |
| Investor Education and Protection Fund Authority Ministry of Corporate Affairs | 1.41% |
8,271 shareholders. Pledged: 0.00% of promoter shares.
Peers in Paper & Paper Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| JKPAPER | ₹6,689 cr | 20.2x | 1.2x | 5.9% | 8.0% | 12.9% | +3.2% | 1.27% |
| WSTCSTPAPR | ₹5,203 cr | 22.6x | 1.4x | 6.5% | 9.4% | 11.5% | -4.5% | 0.74% |
| SESHAPAPER | ₹1,290 cr | 13.0x | 0.6x | 4.9% | 5.9% | 6.5% | -6.3% | 1.22% |
| ANDHRAPAP | ₹1,279 cr | 46.3x | 0.7x | 1.4% | 2.4% | 4.8% | -6.7% | 1.56% |
| NRAIL | ₹1,122 cr | 18.1x | 1.4x | 7.8% | 10.0% | 9.7% | +6.7% | 0.31% |
| TNPL | ₹899 cr | 3.4x | 0.4x | 11.8% | 6.6% | 10.6% | -3.6% | 2.31% |
| PDMJEPAPER | ₹807 cr | 8.8x | 1.2x | 14.5% | 18.3% | 15.4% | +2.1% | 0.71% |
| EMAMIPAP | ₹685 cr | 7.7x | 1.2x | 14.9% | 14.7% | 12.0% | -6.2% | 2.12% |
| SATIA | ₹625 cr | – | 0.6x | -0.7% | 3.6% | 7.8% | -8.3% | 0.32% |
| KUANTUM | ₹623 cr | 17.3x | 0.5x | 3.0% | 4.9% | 13.8% | -5.8% | 4.18% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-25 | Dividend | Dividend - Rs 2 Per Share |
| 2025-09-17 | Dividend | Dividend - Rs 2 Per Share |
| 2024-08-16 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2023-09-21 | Other | Annual General Meeting |
| 2022-09-21 | Other | Annual General Meeting |
| 2021-09-21 | Dividend | Annual General Meeting/Dividend - Re 1 Per Sh |
| 2020-09-21 | Other | Annual General Meeting |
| 2019-09-06 | Dividend | Annual General Meeting/Dividend - Rs 4 Per Share |
| 2018-09-18 | Dividend | Annual General Meeting/Dividend Rs 3 Per Share |
| 2017-09-12 | Dividend | Annual General Meeting/Dividend - Rs 2/- Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Commodities |
| Industry | Paper & Paper Products |
| Sub-industry | Paper & Paper Products |
| Symbol | NRAIL |
| BSE code | 516082 |
| ISIN | INE740D01017 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.