N R Agarwal Industries Ltd

₹ 228 1.04%
28 Jun - close price
About

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]

Key Points

Revenue Breakup
Presently, writing & printing paper accounts for ~54% of revenues and Duplex boards accounts for ~44% of revenues.[1] It forayed into writing and printing paper in 2014 only.[2]

  • Market Cap 389 Cr.
  • Current Price 228
  • High / Low 361 / 200
  • Stock P/E 6.37
  • Book Value 315
  • Dividend Yield 0.44 %
  • ROCE 17.7 %
  • ROE 12.0 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.73 times its book value
  • Company is expected to give good quarter

Cons

  • The company has delivered a poor sales growth of 9.13% over past five years.
  • Promoters have pledged 100.00% of their holding.

* 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.

Peer comparison

Sector: Paper Industry: Paper

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Quarterly Results

Figures in Rs. Crores

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
360 343 365 337 203 272 328 343 392 383 395 446
312 297 305 274 167 234 293 320 343 359 368 403
Operating Profit 47 46 60 63 36 38 35 23 49 23 28 43
OPM % 13% 13% 16% 19% 18% 14% 11% 7% 13% 6% 7% 10%
2 3 3 4 2 1 2 3 4 3 2 2
Interest 9 9 9 8 7 9 7 7 6 7 6 5
Depreciation 8 8 8 8 8 8 8 8 9 9 9 7
Profit before tax 32 31 46 51 22 22 22 11 37 10 14 33
Tax % 27% 24% 30% 28% 30% 25% 29% 17% 31% 37% 33% 42%
Net Profit 24 24 32 37 16 17 16 9 26 6 10 19
EPS in Rs 13.95 14.00 18.93 21.73 9.24 9.72 9.11 5.55 15.27 3.79 5.61 11.19

Profit & Loss

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
467 493 512 541 725 883 1,044 1,190 1,318 1,405 1,146 1,617
418 460 491 522 695 818 905 1,033 1,133 1,189 1,013 1,474
Operating Profit 49 33 21 19 30 66 139 157 186 216 133 143
OPM % 11% 7% 4% 3% 4% 7% 13% 13% 14% 15% 12% 9%
3 4 4 4 6 8 6 6 7 12 8 11
Interest 8 10 10 12 36 46 43 40 35 36 30 25
Depreciation 8 9 9 10 18 23 24 26 27 32 33 34
Profit before tax 36 18 5 1 -17 4 78 97 131 161 78 95
Tax % 23% 20% 13% 35% -95% -335% 36% 7% 28% 27% 26% 36%
Net Profit 28 14 5 0 -33 18 50 90 95 117 57 61
EPS in Rs 16.39 8.28 2.70 0.26 -19.64 10.48 29.22 53.02 55.61 68.60 33.63 35.85
Dividend Payout % 11% 14% 0% 0% 0% 0% 7% 6% 7% 0% 3% 0%
Compounded Sales Growth
10 Years: 13%
5 Years: 9%
3 Years: 7%
TTM: 41%
Compounded Profit Growth
10 Years: 16%
5 Years: 4%
3 Years: -14%
TTM: 7%
Stock Price CAGR
10 Years: 23%
5 Years: -4%
3 Years: 1%
1 Year: -2%
Return on Equity
10 Years: 20%
5 Years: 24%
3 Years: 18%
Last Year: 12%

Balance Sheet

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
17 17 17 17 17 17 17 17 17 17 17 17
Reserves 75 89 93 94 59 77 116 202 295 402 459 519
181 212 221 302 365 347 300 289 297 202 169 175
115 121 132 147 222 226 226 195 196 245 288 290
Total Liabilities 389 438 463 560 663 667 659 703 805 865 933 1,001
114 117 124 127 458 447 436 464 526 572 584 501
CWIP 133 198 203 290 4 24 25 21 21 20 29 25
Investments 0 0 0 0 0 0 1 0 0 0 0 0
141 123 135 143 200 195 197 218 257 273 320 475
Total Assets 389 438 463 560 663 667 659 703 805 865 933 1,001

Cash Flows

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
43 66 20 38 63 38 91 104 112 191 116 95
-121 -75 -20 -98 -63 -31 -14 -47 -85 -52 -48 -41
80 5 -1 57 6 -11 -78 -55 -29 -139 -67 -55
Net Cash Flow 3 -4 -1 -3 7 -5 -1 3 -2 -0 2 -1

Ratios

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 36 41 41 38 42 33 33 34 33 31 39 38
Inventory Days 41 39 35 35 49 44 37 36 50 47 79 56
Days Payable 90 95 113 102 90 53 14 11 23 24 49 54
Cash Conversion Cycle -13 -15 -37 -29 1 24 57 58 60 55 70 39
Working Capital Days -13 -13 -4 -3 4 18 25 26 27 26 22 55
ROCE % 20% 9% 5% 3% 4% 11% 28% 29% 30% 32% 17% 18%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
73.31 73.31 73.31 73.55 73.55 73.55 73.55 73.55 73.55 73.55 73.55 73.55
0.45 0.43 0.45 0.45 0.45 0.43 0.43 0.43 0.43 0.63 0.73 0.64
1.28 1.24 1.27 0.97 0.93 0.63 0.25 0.01 0.01 0.01 0.01 0.01
24.96 25.02 24.96 25.03 25.08 25.39 25.78 26.01 26.01 25.81 25.71 25.80

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