Oswal Agro Mills Ltd. (OSWALAGRO) AI Stock Analysis

• Market Cap: ₹6.54B
• Dividend Yield: N/A
• Average Volume (3M): 11.74K
• Price to Earnings (P/E): 5.5
• Beta (1Y): 1.67
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 27
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Real Estate - Development
• EPS (TTM): 0.13
• Shares Outstanding: 134,234,790
• 10 Day Avg. Volume: 10,595
• 30 Day Avg. Volume: 11,739
• PEG Ratio: <0.01
• Price to Book (P/B): 1.05
• Price to Sales (P/S): 6.18
• P/FCF Ratio: 17.90
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: ₹56.00 ▼(-5.05% Downside)

The score is primarily supported by strong financial positioning (notably negligible debt) and a strong FY2025 rebound in earnings and cash flow, plus a low P/E valuation. These positives are tempered by weak technicals (downtrend and negative momentum) and the company’s history of volatile cash flow and uneven profitability.

Positive Factors

Balance sheet strength

The company’s near-zero debt and substantial equity provide durable financial resilience, lowering refinancing and interest-rate risk. A conservative capital structure supports opportunistic investment, steady funding of operations, and cushions cyclical real estate cash swings over the medium term.

Cash flow rebound

A strong FY2025 conversion to positive operating and free cash flow materially improves the firm’s self-financing capacity. Sustained cash generation enhances ability to fund capex, reduce reliance on external capital, and build reserves for project timing volatility common in real-estate-linked businesses.

High FY2025 profitability

The sharp FY2025 margin expansion and revenue uplift demonstrate the company can deliver very high incremental profitability when operations align. If durable, these margins support stronger internal funding, faster deleveraging if needed, and improved return on equity across planning horizons.

Negative Factors

Volatile cash flows

Historical swings between materially negative and strongly positive cash flows indicate cash conversion is project- and timing-sensitive. Such volatility can strain liquidity in down cycles, complicate capital allocation, and necessitate larger cash buffers or contingent financing for multi-quarter stability.

Earnings quality concerns

Evidence of irregular profit drivers and lumpy gains reduces predictability of core operating performance. Reliance on one-offs or non-recurring items makes forecasting, budgeting, and assessing sustainable margins harder, increasing execution risk for strategic investments and dividend consistency.

Inconsistent returns historically

The jump to higher returns in FY2025 contrasts with prior weak returns, signaling inconsistent operational execution or exposure to cyclical factors. Such variability challenges long-term planning, capital reinvestment pacing, and the ability to reliably deliver shareholder returns across cycles.

Oswal Agro Mills Ltd. Business Overview & Revenue Model

Company Description

Oswal Agro Mills Limited engages in the trade of commodities in India. It operates through Trading, Real Estate, and Investment segments. The company is involved in the development and trading of real estate properties. It also invests in equity instruments and other securities, as well as lends funds in the form of interest bearing inter-corporate deposits; and trades in mutual funds. The company was incorporated in 1979 and is headquartered in New Delhi, India.

How the Company Makes Money

Oswal Agro Mills Ltd. Financial Statement Overview

Summary

Strong overall fundamentals led by an exceptionally low-debt balance sheet and a sharp FY2025 improvement in profitability and cash generation. The main constraint is consistency: prior years showed uneven profitability and volatile operating/free cash flow, raising questions about earnings quality and durability.

Income Statement

Profitability strengthened sharply in FY2025, with revenue surging to ~1.62B and very high reported gross and net margins (gross margin ~91.5%, net margin ~69.8%), translating into ~1.13B net income. However, results across prior years were far less consistent (including periods with weak/negative operating profitability despite positive net income), suggesting earnings quality and sustainability may be uneven and potentially influenced by non-operating items or lumpy gains.

Balance Sheet

The balance sheet is a major strength: debt is effectively negligible (FY2025 total debt at 0; prior years also minimal), with a very low leverage profile and a large equity base (~9.51B) against ~9.62B in assets. Returns improved meaningfully in FY2025 (return on equity ~11.9%), but earlier years showed much lower returns, indicating profitability has not been consistently strong despite the conservative capital structure.

Cash Flow

Cash generation improved substantially in FY2025 with positive operating cash flow (~559M) and free cash flow (~558M). That said, cash flow has been volatile historically, including multiple years of sizable negative operating and free cash flow (e.g., FY2024 and FY2021), which raises questions on the consistency of cash conversion and the potential for working-capital or project timing swings typical in real-estate-linked businesses.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.81B	1.62B	18.67M	279.53M	110.21M	292.67M
Gross Profit	1.65B	1.48B	12.56M	-3.70M	-8.60M	-238.00K
EBITDA	1.63B	1.46B	43.85M	165.14M	36.90M	115.34M
Net Income	1.27B	1.13B	45.73M	238.77M	190.93M	232.01M
Balance Sheet
Total Assets	0.00	9.62B	8.43B	8.38B	8.14B	7.99B
Cash, Cash Equivalents and Short-Term Investments	979.05M	979.05M	922.88M	1.71B	1.89B	1.02B
Total Debt	0.00	0.00	874.39K	2.08M	3.17M	3.71M
Total Liabilities	-9.51B	108.18M	51.90M	52.99M	52.22M	98.01M
Stockholders Equity	9.51B	9.51B	8.38B	8.33B	8.08B	7.89B
Cash Flow
Free Cash Flow	0.00	558.41M	-817.74M	-160.24M	63.86M	-635.51M
Operating Cash Flow	0.00	558.69M	-817.72M	-160.20M	66.01M	-633.83M
Investing Cash Flow	0.00	-402.00M	512.54M	-1.38B	1.80B	320.55M
Financing Cash Flow	0.00	-901.00K	-1.36M	-1.38M	-892.90K	-1.32M

Oswal Agro Mills Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IFBAGRO	72 Outperform	₹12.17B	22.98	―	―	23.11%	1930.97%
OSWALAGRO	68 Neutral	₹6.54B	5.49	―	―	―	―
UTTAMSUGAR	64 Neutral	₹8.26B	7.34	―	0.95%	19.83%	46.44%
MAGADSUGAR	63 Neutral	₹6.12B	7.42	―	2.49%	8.96%	-19.55%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
AVADHSUGAR	60 Neutral	₹6.65B	10.49	―	2.63%	4.95%	-26.77%