N R Agarwal Industries Limited

BSE: 516082 NSE: NRAIL
N R Agarwal Industries Limited - manufacturing in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
CIN L22210MH1993PLC133365 Incorporated 08 December 1993 ROC Mumbai HQ Mumbai, Maharashtra, India
Active Listed - NSE: NRAIL · BSE: 516082 Public Limited Company manufacturing
Data last updated
Market Cap
₹1,168 Cr
NRAIL · NSE
Share Price
₹664.90
-3.08% today
Revenue
₹2,145 Cr
FY 2025-26 · +29.3% YoY
EBITDA
₹169 Cr
Margin 7.9%
Net Profit
₹47.98 Cr
FY 2025-26 · +165.7% YoY
P/E (TTM)
17.5x
P/B 1.4x
ROE
5.5%
ROCE 8.1%
Debt / Equity
0.92
Interest cover 64.0x

About N R Agarwal Industries Limited

Data last updated:

N R Agarwal Industries Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the paper and packaging products segment of the manufacturing sector. It was incorporated on 08 December 1993 and has been in existence for over 33 years.

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L22210MH1993PLC133365. The company has 1 GST registration on record, which is no longer active. It is a listed company as per MCA records. Its shares are listed on BSE: 516082 and NSE: NRAIL.

The company has an authorised share capital of ₹25 Cr and a paid-up capital of ₹17.02 Cr. It is led by directors including Rajendra Nagin Agarwal (Managing Director) and Raunak Rajendra Agarwal (Whole-Time Director).

Its last annual general meeting (AGM) was held on 24 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Mumbai, Maharashtra.

As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹2,145.45 Cr, a growth of 29.3% compared to the previous year. For the same year it recorded a net profit of ₹47.98 Cr (net margin 2.2%) and EBITDA of ₹168.89 Cr (EBITDA margin 7.9%). The net worth stands at ₹815.4 Cr (up 5.3% YoY). Total assets are valued at ₹1,648.01 Cr (up 15.1% YoY).

The company has about 480 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: N R Agarwal Industries. As per MCA filings, the company has open charges of ₹1,650.54 Cr and satisfied charges of ₹671.78 Cr on record. Court records list 18 cases involving the company, including 10 filed by the company and 8 filed against it.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website nrail.com.

Company details

CIN L22210MH1993PLC133365
Registration Number 133365
Incorporation Date 08 December 1993
ROC Mumbai
Listing Status Listed - Listed on NSE (NRAIL); Listed on BSE (516082)
Company Status Active
Date of Last AGM 24 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant

CIN history

N R Agarwal Industries has one previous CIN (Corporate Identification Number): U22210MH2001PLC133365. The current CIN is L22210MH1993PLC133365, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L22210MH1993PLC133365Current
U22210MH2001PLC133365Previous
Key People
Rajendra Nagin Agarwal Managing Director Raunak Rajendra Agarwal Whole-Time Director Reena Rajendra Agarwal Whole-Time Director

Contact details

N R Agarwal Industries Limited's registered office is in Mumbai, Maharashtra. Its website is nrail.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    nrail.com
  • Registered Address
    502 – A/501 – B Fortune Terraces 5th Floor Opp. City Mall New Link Road Andheri (W, Est), Mumbai, Maharashtra, India – 400053
  • Industry
    Manufacturing, Paper & Packaging Products

To see the full contact details of N R Agarwal Industries Limited, buy the company report.

Comprehensive company report
N R Agarwal Industries Limited - one report that includes everything
  • Company details, directors and signatories
  • Historical financials and ratios
  • Shareholding pattern and group structure
  • Charges with holder and property details
  • Legal cases, compliance and MCA filings
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Secure checkout · GST invoice included

Brands

N R Agarwal Industries operates one associated brand: N R Agarwal Industries. Each brand links to its own profile.

BrandDescriptionWebsite
N R Agarwal Industries
Paper manufacturing using recycled materials in India.nrail.com

Business activity

The main business activity of N R Agarwal Industries is manufacturing. In detail, this covers wood and wood products, furniture, paper and paper products.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturingC3Wood and wood products, furniture, paper and paper products

To see the full business activity and turnover split of N R Agarwal Industries Limited, buy the company report.

Financials of N R Agarwal Industries Limited

FY 2025-26 filings available

N R Agarwal Industries Limited reported revenue of ₹2,145.45 Cr (up 29.3% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Standalone
Revenue
₹2,145 Cr
+29.3% YoY
EBITDA
₹169 Cr
+52.1% YoY
Profit After Tax
₹47.98 Cr
+165.7% YoY
Net Worth
₹815 Cr
+5.3% YoY
Total Assets
₹1,648 Cr
+15.1% YoY
Total Debt
₹821 Cr
+27.5% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue2,1451,6591,2931,7661,6171,1461,405
Revenue growth+29.3%+28.3%-26.8%+9.3%+41.1%-18.5%-
EBITDA169111178185143133216
EBITDA margin+7.9%+6.7%+13.8%+10.5%+8.8%+11.6%+15.4%
Profit before tax59.6115.9513814894.6177.63161
Net profit47.9818.0612810061.5857.25117
Net profit margin+2.2%+1.1%+9.9%+5.7%+3.8%+5.0%+8.3%
EPS (₹)25.6810.3773.7258.3535.8533.6368.60
Balance sheet
Total assets1,6481,4311,348810721705694
Net worth815775760636536476419
Total debt821644579164175195202
Cash & bank4.941.7117.7949.756.167.275.72
Net working capital269181220195157135135
Cash flow
Cash from operations94.87176135-94.66116191
Cash from investing(188)(175)(548)-(40.99)(47.80)(52.19)
Cash from financing95.98(0.93)405-(54.78)(66.76)(139)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue647605563525452466418428
Revenue growth (YoY)+43.1%+30.0%+34.8%+22.5%+30.3%---
Other income5.770.333.33(5.83)25.681.1313.858.98
Total expenses573549507485436438389401
EBITDA74.2956.6956.3139.3916.5127.6628.6026.94
EBITDA margin+11.5%+9.4%+10.0%+7.5%+3.7%+5.9%+6.8%+6.3%
Depreciation17.8517.5117.3316.9416.8816.3616.7916.29
Interest16.4415.6116.0816.9515.5015.7716.4015.50
Profit before tax45.7723.9026.23(0.33)9.81(3.34)9.264.13
Tax10.789.7011.811.15(6.73)3.49(3.47)(4.21)

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 01 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue647605563525452466418428
Revenue growth (YoY)+43.1%+30.0%+34.8%+22.5%+30.3%---
Other income5.770.333.33(5.83)25.681.1313.858.98
Total expenses573549507485436438389401
EBITDA74.2956.6956.3139.3916.5127.6628.6026.94
EBITDA margin+11.5%+9.4%+10.0%+7.5%+3.7%+5.9%+6.8%+6.3%
Depreciation17.8517.5117.3316.9416.8816.3616.7916.29
Interest16.4415.6116.0816.9515.5015.7716.4015.50
Profit before tax45.7723.9026.23(0.33)9.81(3.34)9.264.13
Tax10.789.7011.811.15(6.73)3.49(3.47)(4.21)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue2,1451,6591,2931,7661,6171,1461,405
Revenue growth+29.3%+28.3%-26.8%+9.3%+41.1%-18.5%-
Other income23.5131.407.3712.4311.438.3612.18
Total expenses1,9771,5481,1151,5811,4741,0131,189
Employee cost10597.5780.4977.6871.4568.0676.07
EBITDA169111178185143133216
EBITDA margin+7.9%+6.7%+13.8%+10.5%+8.8%+11.6%+15.4%
Depreciation68.6565.5737.4135.8134.4033.0231.51
Interest64.1460.9110.5413.7925.2330.3135.88
Profit before tax59.6115.9513814894.6177.63161
Tax15.92(1.70)12.1748.4433.5920.3944.19
Net profit47.9818.0612810061.5857.25117
Net profit margin+2.2%+1.1%+9.9%+5.7%+3.8%+5.0%+8.3%
EPS (₹)25.6810.3773.7258.3535.8533.6368.60
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital17.0217.0217.0217.0217.0217.0217.02
Reserves & surplus798758743619519459402
Shareholders' funds (net worth)815775760636536476419
Secured loans847661587132143159194
Unsecured loans(26.62)(17.77)(8.13)31.3531.6436.618.06
Total debt821644579164175195202
Total liabilities1,6481,4311,348810721705694
Assets
Gross block1,4991,4371,313646629724680
Net block1,2211,1971,135483501584572
Capital work in progress22719.7429.4612224.6929.0320.09
Investments12.7010121.340.530.350.240.17
Inventories254168169130155139103
Sundry debtors24718686.96138167123121
Cash & bank balances4.941.7117.7949.756.167.275.72
Loans & advances49.9482.1988.1825.7840.1242.6332.70
Total current assets555438362343368312262
Total current liabilities286257143148211177127
Net working capital269181220195157135135
Total assets1,6481,4311,348810721705694
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash0.670.178.03-7.275.725.76
Net cash from operating activities94.87176135-94.66116191
Net cash from investing activities(188)(175)(548)-(40.99)(47.80)(52.19)
Net cash from financing activities95.98(0.93)405-(54.78)(66.76)(139)
Net change in cash2.760.49(7.85)-(1.12)1.56(0.05)
Closing cash4.941.7117.79-6.167.275.72
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+29.3%+28.3%-26.8%+9.3%+41.1%-18.5%-
EBITDA growth+52.1%-37.7%-3.6%+29.5%+7.7%-38.7%-
PBT growth+273.7%-88.4%-6.9%+56.2%+21.9%-51.8%+23.2%
Net income growth+165.7%-85.9%+27.5%+62.6%+7.6%-51.0%-
Revenue CAGR (3Y)+6.7%+0.9%+4.1%+7.9%+6.5%-1.9%+10.4%
EBITDA CAGR (3Y)-3.0%-8.1%+10.4%-5.1%-8.1%-5.6%+16.1%
Profitability & leverage
Net income margin+2.0%+1.1%+9.7%+5.6%+3.8%+5.0%+8.3%
Return on capital employed+8.1%+5.5%+13.6%+21.1%+16.8%+15.4%+28.6%
Return on net worth+5.5%+2.3%+18.0%+17.0%+12.1%+12.8%+31.9%
Debt / equity0.920.810.550.290.370.440.68
Long-term debt / equity0.710.660.470.190.130.230.46
Interest cover63.99133.997.499.2523.2730.4419.43
Efficiency & per share
Fixed asset turnover1.461.211.322.772.391.632.19
Inventory turnover10.199.858.6512.5611.009.4913.58
Debtors turnover9.9112.1411.4911.5811.149.4111.81
EPS (₹)25.6810.3773.7258.3535.8533.6368.60
Dividend per share (₹)0.004.002.000.000.001.000.00
Book value per share (₹)479.11455.13446.73373.48314.97279.98246.07

To see the full year-wise statements and ratios of N R Agarwal Industries Limited, buy the company report.

Board of directors of N R Agarwal Industries Limited

N R Agarwal Industries has 10 current directors and 18 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Rajendra Nagin Agarwal
Also directs: RN Corp Private Limited, Reera Holdings Private Limited
Managing Director01 Aug 201016 Years 3 MonthsCurrent
Raunak Rajendra Agarwal
Also directs: RN Corp Private Limited, Reera Holdings Private Limited
Whole-Time Director01 May 200818 Years 6 MonthsCurrent
Reena Rajendra Agarwal
Also directs: RN Corp Private Limited, Reera Holdings Private Limited
Whole-Time Director01 Aug 20224 Years 3 MonthsCurrent
Rajiv Bakshi
Also directs: Brady & Morris Engineering Company Limited, A K Capital Services Limited, Stellar Arc Limited and 4 more
Director07 Feb 20188 Years 8 MonthsCurrent
Rohan Rajendra Agarwal
Also directs: RN Corp Private Limited, Reera Holdings Private Limited
Whole-Time Director29 Sep 20206 Years 1 MonthsCurrent
Sunita Ajay Nair
Also directs: Calyx Chemicals and Pharmaceuticals Limited
Director01 Apr 20206 Years 7 MonthsCurrent
Showing 6 of 10 current directors. View all directors

Peer comparison

N R Agarwal Industries Limited is compared with the 8 companies closest to it by revenue in the Manufacturing industry (Paper), with the same principal business activity (wood and wood products, furniture, paper and paper products), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Ballarpur Industries Limited₹3,356.2 Cr (FY 2020)-9.0%Mumbai, Maharashtra, India
Khanna Paper Mills Limited₹2,183.84 Cr (FY 2024)-36.0%Gurgaon, Haryana, India
N R Agarwal Industries Limitedthis company₹2,145.45 Cr (FY 2026)₹47.98 Cr2.2%29.3%480Mumbai, Maharashtra, India
Emami Paper Mills Limited₹1,932.5 Cr (FY 2025)-3.0%Kolkata, West Bengal, India
Seshasayee Paper and Boards Limited₹1,822.98 Cr (FY 2025)-2.0%Erode, Tamil Nadu, India
Andhra Paper Limited₹1,629.97 Cr (FY 2025)-14.0%Andhra Pradesh, India
Satia Industries Limited₹1,531.2 Cr (FY 2025)-12.0%Muktsar, Punjab, India
Bank Note Paper Mill India Private Limited₹1,401.91 Cr (FY 2025)12.0%Mysore, Karnataka, India
Kuantum Papers Limited₹1,113.12 Cr (FY 2025)-9.0%Saila Khurd, Punjab, India

To see the full peer comparison of N R Agarwal Industries Limited, buy the company report.

Auditor

N R Agarwal Industries Limited is audited by GMJ & Co for the financial year 2023.

Auditor firmFinancial yearFirm registration number
GMJ & CoFY 20231038755

Shareholding

Shareholding for the quarter ended Sep 2026: promoters hold 74.30%, foreign institutional investors hold 0.30%, domestic institutional investors hold 0.10% and retail and other public shareholders hold 25.40%.

Promoters: 74.30%DII (Domestic Institutional): 0.10%FII (Foreign Institutional): 0.30%Retail & Others: 25.40%
Sep 2026
QUARTER
74.30% Promoters
0.10% DII (Domestic Institutional)
0.30% FII (Foreign Institutional)
25.40% Retail & Others
Promoter holding - history
Now 74.30% · Sep 2026High 74.30% · Jun 2026Low 74.10% · Dec 2025
73%73.8%74.5%75.3%76%Dec 2025Mar 2026Jun 2026Sep 2026Dec 2025: 74.10%Mar 2026: 74.10%Jun 2026: 74.30%Sep 2026: 74.30%74.30%74.10%74.30%
Shareholding trend - last 6 quarters
Sep 2026Jun 2026Mar 2026Dec 2025
Promoters74.30%74.30%74.10%74.10%
Public25.70%25.70%25.90%25.90%

Charges & borrowings

Open charges
₹1,650.54 Cr
Satisfied charges
₹671.78 Cr
Breakdown by lending institutions
Sbicap Trustee Company Limited₹934.32 Cr
Others₹427.92 Cr
Axis Bank Limited₹182.00 Cr
Yes Bank Limited₹100.00 Cr
Indian Overseas Bank₹6.30 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
22 Apr 2026101287306Axis Bank Limited₹30 CrOpen
26 Feb 2026101252358Others₹30 CrOpen
19 Feb 2026101246208Yes Bank Limited₹100 CrOpen
04 Oct 2025101173045Axis Bank Limited₹112 CrOpen
14 Aug 2025101149445Sbicap Trustee Company Limited₹165 CrOpen

To see the full charge records of N R Agarwal Industries Limited, buy the company report.

Total charge records: 66 View all charges

Credit ratings & regulatory alerts

N R Agarwal Industries Limited was last rated by Icra on 23 Feb 2022.

Rating agencyRated onRating
Icra23 Feb 2022

To see the full credit ratings and regulatory alerts of N R Agarwal Industries Limited, buy the company report.

MSME payment delays

N R Agarwal Industries Limited has 5 MSME Form 1 returns on record between 2021 and 2022, listing 30 overdue payments to 7 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.

Suppliers with reported dues (5 of 7)

SupplierAmount dueDue sinceReported on
Ashapura Logistics Limited
Janvik Engineers and Tubes Private Limited
Prescience Controls
Neo Chemoflon Private Limited
an individual supplier

To see the full MSME payment records of N R Agarwal Industries Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Employees & EPFO

N R Agarwal Industries Limited has a workforce of 480 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.

Employee count
480
Active EPFO establishments
1
Employee growth
10.09%

GST

N R Agarwal Industries has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.

Total GSTINs
1
Cancelled / inactive
1

To see the full GST registrations and return filing status of N R Agarwal Industries Limited, buy the company report.

Recent activity

N R Agarwal Industries Limited has 40 board changes on record since 1993: 25 appointments and 15 cessations. The latest: Mahendra Kumar Gupta was appointed as Director on 24 Sep 2025.

Charges
A charge with Sbicap Trustee Company Limited of Rs. 342.52 Cr registered on 02 Jan 2024 with Charge ID 100849471 was modified on 04 May 2026.
Charges
A charge with Axis Bank Limited amounted to Rs. 30.00 Cr with Charge ID 101287306 was registered on 22 Apr 2026.
Filing
N R Agarwal Industries Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai I.
Charges
A charge with Others amounted to Rs. 30.00 Cr with Charge ID 101252358 was registered on 26 Feb 2026.
Charges
A charge with Yes Bank Limited amounted to Rs. 100.00 Cr with Charge ID 101246208 was registered on 19 Feb 2026.
Charges
A charge with Axis Bank Limited of Rs. 112.00 Cr registered on 04 Oct 2025 with Charge ID 101173045 was modified on 11 Dec 2025.
Charges
A charge with Axis Bank Limited amounted to Rs. 112.00 Cr with Charge ID 101173045 was registered on 04 Oct 2025.
AGM
N R Agarwal Industries Limited last Annual general meeting of members was held on 24 Sep 2025 as per latest MCA records.
Appointed
Mahendra Kumar Gupta was appointed as Director.
Charges
A charge with Sbicap Trustee Company Limited amounted to Rs. 165.00 Cr with Charge ID 101149445 was registered on 14 Aug 2025.
Charges
A charge with Indian Overseas Bank amounted to Rs. 6.30 Cr with Charge ID 101150751 was registered on 04 Aug 2025.
Charges
A charge with Others of Rs. 165.00 Cr registered on 29 Jan 2025 with Charge ID 101062952 was modified on 29 Jul 2025.

168 earlier events are in the company report.

News

Frequently asked questions

N R Agarwal Industries is an active public limited company based in Mumbai, Maharashtra, India. The company works in paper and packaging products, within the manufacturing industry. It was incorporated on 08 December 1993 (33+ years old) and is registered under CIN L22210MH1993PLC133365. Listed on BSE: 516082 and NSE: NRAIL.

N R Agarwal Industries reported revenue of ₹2,145.45 Cr for FY 2025-26 (up 29.3% YoY) based on standalone financials.

N R Agarwal Industries has 10 current directors:

The latest financial statements of N R Agarwal Industries on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 24 September 2025. Year-wise statements from 2015 are in the company report.

No. N R Agarwal Industries has 1 GST registration on record and it is cancelled or inactive.

The CIN (Corporate Identification Number) of N R Agarwal Industries is L22210MH1993PLC133365. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. N R Agarwal Industries is a listed company as per MCA records. Its shares are listed on both BSE (code: 516082) and NSE (symbol: NRAIL).

N R Agarwal Industries has 18 court cases on record: 10 filed by the company and 8 filed against it. Most are in the high courts.

N R Agarwal Industries was incorporated on 08 December 1993, making it 33+ years old. It is registered with the Registrar of Companies, Mumbai.

The peers of N R Agarwal Industries by revenue are Ballarpur Industries Limited, Khanna Paper Mills Limited, Emami Paper Mills Limited, Seshasayee Paper and Boards Limited, Andhra Paper Limited and 3 more, all in the Manufacturing industry (Paper), with the same principal business activity (wood and wood products, furniture, paper and paper products).

Mahendra Kumar Gupta was appointed as Director on 24 Sep 2025. Neeraj Golas ceased to be Director on 09 Jul 2025. Sachindra Nath Chaturvedi ceased to be Director on 21 Oct 2024. N R Agarwal Industries has 40 board changes on record in total.

N R Agarwal Industries has 5 MSME Form 1 returns on record between 2021 and 2022, listing 30 overdue payments to 7 micro and small suppliers. The latest return was filed on 30 Apr 2022.