N R Agarwal Industries Ltd
NR Agarwal Industries Ltd is in the business of manufacturing different kinds of duplex paper boards and writing and printing papers.
The company is among the first and leading manufacturers of recycled paper in India and the largest manufacturer of grey back and white back duplex board for over 2 decades. [1]
- Market Cap ₹ 808 Cr.
- Current Price ₹ 475
- High / Low ₹ 538 / 247
- Stock P/E 6.23
- Book Value ₹ 420
- Dividend Yield 0.00 %
- ROCE 21.6 %
- ROE 17.1 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 1.13 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 8.21% over past five years.
- Company might be capitalizing the interest cost
- Promoters have pledged 99.4% of their holding.
- Dividend payout has been low at 0.99% of profits over last 3 years
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
493 | 512 | 541 | 725 | 883 | 1,044 | 1,190 | 1,318 | 1,405 | 1,146 | 1,617 | 1,766 | 1,432 | |
460 | 491 | 522 | 695 | 818 | 905 | 1,033 | 1,133 | 1,189 | 1,013 | 1,473 | 1,580 | 1,255 | |
Operating Profit | 33 | 21 | 19 | 30 | 66 | 139 | 157 | 186 | 216 | 133 | 144 | 186 | 177 |
OPM % | 7% | 4% | 3% | 4% | 7% | 13% | 13% | 14% | 15% | 12% | 9% | 11% | 12% |
4 | 4 | 4 | 6 | 8 | 6 | 6 | 7 | 12 | 8 | 10 | 11 | 9 | |
Interest | 10 | 10 | 12 | 36 | 46 | 43 | 40 | 35 | 36 | 30 | 25 | 14 | 8 |
Depreciation | 9 | 9 | 10 | 18 | 23 | 24 | 26 | 27 | 32 | 33 | 34 | 36 | 36 |
Profit before tax | 18 | 5 | 1 | -17 | 4 | 78 | 97 | 131 | 161 | 78 | 95 | 148 | 142 |
Tax % | 20% | 13% | 35% | -95% | -335% | 36% | 7% | 28% | 27% | 26% | 36% | 33% | |
14 | 5 | 0 | -33 | 18 | 50 | 90 | 95 | 117 | 57 | 61 | 99 | 130 | |
EPS in Rs | 8.28 | 2.70 | 0.26 | -19.64 | 10.48 | 29.22 | 53.02 | 55.61 | 68.60 | 33.63 | 35.85 | 58.35 | 76.20 |
Dividend Payout % | 14% | -0% | -0% | -0% | -0% | 7% | 6% | 7% | -0% | 3% | -0% | -0% |
Compounded Sales Growth | |
---|---|
10 Years: | 13% |
5 Years: | 8% |
3 Years: | 8% |
TTM: | -22% |
Compounded Profit Growth | |
---|---|
10 Years: | 36% |
5 Years: | 2% |
3 Years: | -5% |
TTM: | 32% |
Stock Price CAGR | |
---|---|
10 Years: | 36% |
5 Years: | 9% |
3 Years: | 31% |
1 Year: | 78% |
Return on Equity | |
---|---|
10 Years: | 20% |
5 Years: | 20% |
3 Years: | 14% |
Last Year: | 17% |
Balance Sheet
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 |
Reserves | 89 | 93 | 94 | 59 | 77 | 116 | 202 | 295 | 402 | 459 | 519 | 619 | 697 |
212 | 221 | 302 | 365 | 347 | 300 | 289 | 297 | 202 | 195 | 175 | 164 | 392 | |
121 | 132 | 147 | 222 | 226 | 226 | 195 | 196 | 245 | 261 | 290 | 241 | 258 | |
Total Liabilities | 438 | 463 | 560 | 663 | 667 | 659 | 703 | 805 | 865 | 933 | 1,001 | 1,041 | 1,364 |
117 | 124 | 127 | 458 | 447 | 436 | 464 | 526 | 572 | 584 | 501 | 483 | 486 | |
CWIP | 198 | 203 | 290 | 4 | 24 | 25 | 21 | 21 | 20 | 29 | 28 | 122 | 475 |
Investments | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
123 | 135 | 143 | 200 | 195 | 197 | 218 | 257 | 273 | 320 | 471 | 435 | 403 | |
Total Assets | 438 | 463 | 560 | 663 | 667 | 659 | 703 | 805 | 865 | 933 | 1,001 | 1,041 | 1,364 |
Cash Flows
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
66 | 20 | 38 | 63 | 38 | 91 | 104 | 112 | 191 | 116 | 96 | 129 | |
-75 | -20 | -98 | -63 | -31 | -14 | -47 | -85 | -52 | -48 | -41 | -96 | |
5 | -1 | 57 | 6 | -11 | -78 | -55 | -29 | -139 | -67 | -55 | -25 | |
Net Cash Flow | -4 | -1 | -3 | 7 | -5 | -1 | 3 | -2 | -0 | 2 | -0 | 8 |
Ratios
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 41 | 41 | 38 | 42 | 33 | 33 | 34 | 33 | 31 | 39 | 38 | 29 |
Inventory Days | 39 | 35 | 35 | 49 | 44 | 37 | 36 | 50 | 47 | 79 | 56 | 44 |
Days Payable | 95 | 113 | 102 | 90 | 53 | 33 | 23 | 31 | 39 | 77 | 56 | 32 |
Cash Conversion Cycle | -15 | -37 | -29 | 1 | 24 | 37 | 47 | 51 | 39 | 42 | 38 | 40 |
Working Capital Days | -13 | -4 | -3 | 4 | 18 | 25 | 26 | 27 | 26 | 41 | 33 | 30 |
ROCE % | 9% | 5% | 3% | 4% | 11% | 28% | 29% | 30% | 32% | 17% | 17% | 22% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 26 Apr
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 23 Apr
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 19 Apr
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 15 Apr
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Announcement under Regulation 30 (LODR)-Change in Management
11 Apr - Mr. Deepak Bhardwaj, President-Operations (Writing & Printing) has tendered his resignation with effect from close of working hours of April 10, 2024 due to personal …
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Under Penerated Market[1]
India’s paper sector is vastly under-penetrated. Per-capita consumption was estimated at 13 kg compared to a global average of 57 kg, indicating a large headroom.