Agarwal Industrial Corporation Limited (AGARIND) AI Stock Analysis

• Market Cap: ₹11.89B
• Dividend Yield: 0.38%
• Average Volume (3M): 3.68K
• Price to Earnings (P/E): 13.4
• Beta (1Y): 1.04
• Revenue Growth: 3.65%
• EPS Growth: -25.64%
• Country: IN
• Employees: 129
• Sector: Industrials
• Sector Strength: 77
• Industry: Chemicals - Specialty
• EPS (TTM): 8.71
• Shares Outstanding: 14,957,789
• 10 Day Avg. Volume: 4,918
• 30 Day Avg. Volume: 3,678
• 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: ₹887.00
• Price Target Upside: 10.11% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 63 Neutral
• Price Target: ₹887.00 ▲(10.11% Upside)

Agarwal Industrial Corporation's stock score is primarily influenced by its strong financial performance, despite negative Free Cash Flow due to high capital expenditures. The technical analysis indicates bearish momentum, which is a significant risk. The valuation suggests potential undervaluation, but the low dividend yield may deter income-focused investors.

Agarwal Industrial Corporation Limited Business Overview & Revenue Model

Company Description

Agarwal Industrial Corporation Limited (AGARIND) is a key player in the bitumen industry, providing a diverse range of products and services primarily in the infrastructure sector. The company specializes in the production and distribution of bitumen and bitumen-related products, including emulsion and modified bitumen, which are essential for road construction and maintenance. In addition to its core offerings, AGARIND is involved in logistics and transportation services, ensuring timely delivery of its products across various regions.

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: Negative
• Last Price: 805.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AGARIND, the sentiment is Negative. The current price of 805.55 is below the 20-day moving average (MA) of 870.45, below the 50-day MA of 921.83, and below the 200-day MA of 1031.09, indicating a bearish trend. The MACD of -44.19 indicates Positive momentum. The RSI at 29.17 is Positive, neither overbought nor oversold. The STOCH value of 30.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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	₹18.05B	20.66		1.51%	17.61%	28.12%
Sector *	64 Neutral	$10.74B	15.62	8.14%	2.00%	2.79%	-14.82%
AGARIND	63 Neutral	₹11.89B	13.43		0.38%	3.65%	-25.64%
ADORWELD	―	₹16.93B	44.78		2.19%	―	―
RIIL	―	₹13.40B	114.00		0.38%	―	―
SALZERELEC	61 Neutral	₹14.18B	27.82		0.31%	21.61%	38.95%
WENDT	―	₹19.71B	55.61		0.51%	―	―