NRAIL

N R Agarwal Industries Limited

N R Agarwal Industries Limited (NRAIL) financial statements and selected valuation metrics through 30 June 2026.

Commodities›Forest Materials›Paper, Forest & Jute Products›Paper & Paper Products

nrail.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-19

Stock price
₹712.10
Market cap
1,212 Cr
Stock P/E
19.5
P/B
1.49
Dividend yield
0.3%
ROE (FY26)
5.4%
ROCE (FY26)
7.7%
Operating margin (FY26)
4.9%
Debt / equity (FY26)
0.97
OCF / EBITDA (FY26)
54.4%
OCF / EBITDA (3Y)
88.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Makes paper and paperboard for packaging and printing, with 4,44,000 tonnes a year of capacity in operation and revenue of ₹2,145 crore in FY26.

Company snapshot

5thBy market cap

Ranked among 22 companies in Paper & Paper Products.

What we see

Positives
  • ✓88% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is very thin at 2.0% — little room for error if costs rise.

Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 20251Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales342 Cr336 Cr247 Cr347 Cr428 Cr418 Cr466 Cr452 Cr525 Cr563 Cr605 Cr647 Cr
Operating expenses (approx.)294 Cr288 Cr213 Cr319 Cr401 Cr389 Cr438 Cr436 Cr481 Cr506 Cr549 Cr573 Cr
EBITDA48 Cr48 Cr34 Cr28 Cr27 Cr29 Cr28 Cr17 Cr44 Cr57 Cr57 Cr74 Cr
OPM %14.0%14.2%13.7%8.0%6.3%6.8%5.9%3.7%8.4%10.2%9.4%11.5%
Other income2 Cr2 Cr3 Cr7 Cr9 Cr14 Cr1 Cr26 Cr-6 Cr3 Cr0.33 Cr6 Cr
Interest1 Cr2 Cr5 Cr13 Cr16 Cr16 Cr16 Cr16 Cr17 Cr16 Cr16 Cr16 Cr
Depreciation9 Cr9 Cr10 Cr16 Cr16 Cr17 Cr16 Cr17 Cr17 Cr17 Cr18 Cr18 Cr
Profit before tax39 Cr39 Cr21 Cr6 Cr4 Cr9 Cr-3 Cr10 Cr-0.32 Cr26 Cr24 Cr46 Cr
Tax %3.5%19.1%25.2%42.4%-102.1%-37.5%—-68.6%-354.6%45.0%40.6%23.6%
Net profit38 Cr31 Cr16 Cr3 Cr8 Cr13 Cr-7 Cr17 Cr-1 Cr14 Cr14 Cr35 Cr
EPS (₹)₹22.22₹18.47₹9.20₹2.00₹4.90₹7.48—₹9.72₹-0.87₹8.48₹8.34₹20.55
  1. 1Mar 2025: Derived from year-to-date: the year to 31 Mar 2025 less the quarters to 30 Jun 2024, 30 Sep 2024 and 31 Dec 2024; the filing gives no figures for this quarter alone

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,095 Cr1,226 Cr1,318 Cr1,405 Cr1,146 Cr1,617 Cr1,766 Cr1,293 Cr1,659 Cr2,145 CrSign in free for the trailing twelve months
Operating expenses (approx.)957 Cr1,071 Cr1,134 Cr1,189 Cr1,013 Cr1,474 Cr1,581 Cr1,117 Cr1,548 Cr1,971 CrSign in free for the trailing twelve months
EBITDA138 Cr155 Cr184 Cr216 Cr133 Cr143 Cr185 Cr176 Cr111 Cr174 CrSign in free for the trailing twelve months
OPM %12.6%12.7%14.0%15.4%11.6%8.8%10.5%13.6%6.7%8.1%Sign in free for the trailing twelve months
Other income6 Cr6 Cr8 Cr12 Cr8 Cr11 Cr12 Cr9 Cr31 Cr24 CrSign in free for the trailing twelve months
Interest43 Cr38 Cr35 Cr36 Cr30 Cr25 Cr14 Cr11 Cr61 Cr64 CrSign in free for the trailing twelve months
Depreciation25 Cr26 Cr27 Cr32 Cr33 Cr34 Cr36 Cr37 Cr66 Cr69 CrSign in free for the trailing twelve months
Profit before tax78 Cr97 Cr131 Cr161 Cr78 Cr95 Cr148 Cr138 Cr16 Cr60 CrSign in free for the trailing twelve months
Tax %36.4%7.0%27.6%27.5%26.3%35.5%32.8%8.8%-10.6%26.7%Sign in free for the trailing twelve months
Net profit50 Cr90 Cr95 Cr117 Cr57 Cr61 Cr99 Cr125 Cr18 Cr44 CrSign in free for the trailing twelve months
EPS (₹)₹29.22₹53.03₹55.61₹68.60₹5.55₹35.85₹58.35₹73.72₹10.37₹25.68Sign in free for the trailing twelve months
Dividend payout %————0.0%2.8%0.0%0.0%19.3%7.8%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital17 Cr17 Cr17 Cr17 Cr17 Cr17 Cr17 Cr17 Cr17 Cr17 Cr
Reserves116 Cr202 Cr295 Cr402 Cr459 Cr519 Cr619 Cr743 Cr758 Cr798 Cr
Borrowings266 Cr241 Cr241 Cr173 Cr112 Cr143 Cr135 Cr553 Cr621 Cr789 Cr
Other liabilities260 Cr243 Cr251 Cr273 Cr345 Cr322 Cr271 Cr254 Cr374 Cr427 Cr
Total liabilities659 Cr703 Cr805 Cr865 Cr933 Cr1,001 Cr1,041 Cr1,567 Cr1,770 Cr2,031 Cr
Fixed assets (net)436 Cr463 Cr526 Cr548 Cr551 Cr463 Cr450 Cr1,104 Cr1,171 Cr1,185 Cr
CWIP25 Cr21 Cr21 Cr20 Cr29 Cr25 Cr122 Cr29 Cr20 Cr227 Cr
Investments0.55 Cr0.45 Cr0.41 Cr0.17 Cr0.24 Cr0.35 Cr0.53 Cr21 Cr101 Cr13 Cr
Loans & advances——0.92 Cr0.85 Cr0.16 Cr0.45 Cr0.22 Cr0.97 Cr0.70 Cr2 Cr
Inventories63 Cr69 Cr104 Cr103 Cr139 Cr155 Cr130 Cr169 Cr168 Cr254 Cr
Trade receivables94 Cr111 Cr117 Cr121 Cr123 Cr167 Cr138 Cr87 Cr186 Cr247 Cr
Cash & bank0.14 Cr0.10 Cr0.09 Cr0.48 Cr0.21 Cr0.06 Cr8 Cr0.17 Cr0.67 Cr3 Cr
Other assets39 Cr38 Cr35 Cr73 Cr91 Cr190 Cr192 Cr154 Cr123 Cr101 Cr
Total assets659 Cr703 Cr805 Cr865 Cr933 Cr1,001 Cr1,041 Cr1,567 Cr1,770 Cr2,031 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity91 Cr111 Cr112 Cr191 Cr116 Cr95 Cr129 Cr135 Cr176 Cr95 Cr
Cash from investing-14 Cr-47 Cr-85 Cr-52 Cr-48 Cr-41 Cr-96 Cr-548 Cr-175 Cr-188 Cr
Cash from financing-78 Cr-61 Cr-29 Cr-139 Cr-67 Cr-55 Cr-25 Cr405 Cr-0.93 Cr96 Cr
Net cash flow-0.93 Cr3 Cr-2 Cr-0.05 Cr2 Cr-1 Cr8 Cr-8 Cr0.49 Cr3 Cr
Free cash flow (OCF − Capex)60 Cr62 Cr24 Cr136 Cr66 Cr53 Cr-65 Cr-399 Cr56 Cr-199 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %30.3%29.3%29.8%33.2%18.4%17.6%21.0%11.3%5.5%7.7%
ROE %37.3%41.1%30.3%27.9%12.0%11.4%15.6%16.5%2.3%5.4%
Debtor days31333231393828254142
Inventory days37364947775643865764
Days payable33233139755531327963
Cash conversion cycle36455139423940781944
OCF / EBITDA %65.5%71.4%60.9%88.6%87.6%66.3%69.8%76.7%158.6%54.4%
OCF / EBITDA % (3 years)——65.7%74.6%78.8%81.8%73.8%71.2%93.3%88.0%
Debt / equity1.991.100.770.410.230.270.210.730.800.97
Current ratio0.991.021.101.301.031.152.261.601.331.15
Net debt / EBITDA1.921.551.310.800.841.000.683.145.594.50