Agarwal Industrial Corporation (531921) Fair Value & Analysis
Basic Materials · IN · Market cap ₹887M
Fair value as of: Aug 18, 2026
From 16 valuation models · updated today
Below-average quality, and screening another 73% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹162.11). The favourable scenario is already priced in.
- Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
Analysis
Agarwal Industrial Corporation (531921) currently trades at ₹483.35, while our model-based Fair Value estimate is ₹129.69, implying the stock looks roughly 73.2% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Agarwal Industrial Corporation generated revenue of ₹6.7B at a net margin of 3.4%. Revenue declined 43.7% year over year. The stock trades on a trailing P/E of 3.6 (as of Aug 18, 2026). Fundamentals as of Aug 18, 2026
Our scenario range runs from ₹97.27 (bear case) to ₹162.11 (bull case); at ₹483.35, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 52% below its 52-week high and 34% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -68% fair-value upside, at -73%, 531921 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 16 models by family
Widest divergence: Growth Earnings (₹3,484) versus Dividend Discount (₹55.94). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 44
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Agarwal Industrial Corporation Limited primarily manufactures and trades in petrochemicals in India. The company operates through Petrochemical Business, Transportation, and Sale of Power segments.
Full company description
Agarwal Industrial Corporation Limited primarily manufactures and trades in petrochemicals in India. The company operates through Petrochemical Business, Transportation, and Sale of Power segments. Its products include paving grade bitumen, industrial grade bitumen, viscosity grade bitumen, bitumen emulsions for road construction, crumb rubber modified bitumen, polymer modified bitumen, byproducts/waterproofing materials, bituminious felts, bituminous expansion jointing boards, bitumen coats and paints, bitumen insulation materials, bitubonds, bituplasts, bituminous blacks, bitukotes, bitupremier, cable compounds, etc. The company also transports bulk bitumen and bulk LPG; and generates power through windmills, as well as imports and stores bitumen. The company was formerly known as Bombay Baroda Roadways (India) Limited and changed its name to Agarwal Industrial Corporation Limited in March 2008. Agarwal Industrial Corporation Limited was incorporated in 1995 and is based in Mumbai, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Agarwal Industrial Corporation reported revenue of ₹24.0B in FY2025 versus ₹9.0B in FY2021, a compound +27.6%/yr. Reported net income was ₹1.2B in FY2025, compounding +30.0%/yr from FY2021.
531921 screens 73% overvalued. Compare with Linde plc →
Peer Group
Specialty Chemicals · 672 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Specialty Chemicals median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Linde plc LIN | $479.43 | $222.03 | -54% |
| Wanhua Chemical Group 600309 | ¥75.06 | ¥68.03 | -9% |
| Novozymes A/S NSISB | kr 416.10 | kr 170.02 | -59% |
| Asian Paints Limited ASIANPAINT | ₹2,756 | ₹664.51 | -76% |
| Solar Industries India Limited SOLARINDS | ₹18,730 | ₹2,793 | -85% |
| Pidilite Industries Limited PIDILITIND | ₹1,702 | ₹351.84 | -79% |
| PT Chandra Asri Pacific Tbk TPIA | 2,160 IDR | 2,322 IDR | +8% |
| Berger Paints India Limited BERGEPAINT | ₹559.80 | ₹154.46 | -72% |
| Gujarat Fluorochemicals Limited FLUOROCHEM | ₹4,566 | ₹836.47 | -82% |
| Himadri Speciality Chemical Limited HSCL | ₹778.15 | ₹248.63 | -68% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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