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Agarwal Industrial Corporation (AGARIND) Fair Value & Analysis

Basic Materials · IN · Market cap ₹8.1B

AI Agarwal Industrial Corporation AGARIND · NSE
Price₹507.00
Fair Value₹420.87
Upside-17.0%
Quality32/100
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Mixed Growth
Thin margins · 2.6% net margin
Low debt · generates free cash flow
0.60% dividend yield
Mixed vs. peers (8/14)
Narrow moat 33/100
Evidence: High Range ₹315.65 – ₹526.08 Share as image

Fair value as of: Aug 2, 2026

From 25 valuation models · updated 11 days ago

Share price −3.9% over the past month.

Below-average quality, and screening another 17% overvalued on our models.

What matters now

  • Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • Our model range runs from ₹315.65 (bear) to ₹526.08 (bull), base ₹420.87. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 32/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹1,357 ₹147.06 Fair Value ₹420.87 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range ₹147.06 – ₹1,357 · fair‑value band ₹315.65 – ₹526.08 · the ₹507.00 price screens above the ₹420.87 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Agarwal Industrial Corporation (AGARIND) currently trades at ₹507.00, while our model-based Fair Value estimate is ₹420.87, implying the stock looks roughly 17.0% overvalued today. The Quality Score stands at 32/100 (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 ₹16.5B at a net margin of 2.6%. Revenue declined 50.8% year over year. It earns a return on equity of 6.6%. Net debt stands at ₹2.7B. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹315.65 (bear case) to ₹526.08 (bull case); at ₹507.00, the current price sits within 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 50% below its 52-week high and 41% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -17%, AGARIND screens cheaper 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹868.57 ₹1,588 ₹2,995 80
Residual Income ₹359.09 ₹368.68 ₹372.11 76
Rev-Margin DCF ₹549.63 ₹1,064 ₹1,944 74
All 25 models by family
DCF Models
FCF DCF ₹927.01 ₹1,445 ₹3,060 38
5Y Revenue Exit ₹549.63 ₹925.23 ₹1,694 39
5Y EBITDA Exit ₹668.14 ₹1,168 ₹2,131 41
5Y P/E Exit ₹510.25 ₹1,021 ₹1,686 38
10Y Revenue Exit ₹649.76 ₹1,303 ₹1,734 36
10Y EBITDA Exit ₹750.64 ₹1,546 ₹2,966 37
10Y P/E Exit ₹638.75 ₹1,222 ₹2,179 35
Earnings-Based
Graham-Dodd ₹198.05 ₹1,381 ₹1,938 54
Lynch FV ₹490.94 ₹701.35 ₹911.75 50
PEG = 1.0 ₹490.94 ₹701.35 ₹911.75 46
EPV ₹292.87 ₹344.28 ₹388.63 59
Dividend Discount
Gordon GGM ₹28.98 ₹57.75 ₹87.45 70
DDM Multi-Stage ₹28.98 ₹49.91 ₹60.96 61
Multiples
P/E Multiple ₹371.35 ₹495.14 ₹618.92 63
P/S Multiple ₹371.35 ₹495.14 ₹618.92 58
P/B Multiple ₹371.35 ₹495.14 ₹618.92 55
EV/EBIT ₹425.38 ₹578.08 ₹730.78 53
EV/EBITDA ₹555.23 ₹751.21 ₹947.19 54
EV/Revenue ₹364.30 ₹534.45 ₹704.61 43
Asset-Based
NCAV (Graham) ₹230.32 ₹308.63 ₹460.64 50
Growth DCF
Growth DCF ₹868.57 ₹1,588 ₹2,995 80
Rev-Margin DCF ₹549.63 ₹1,064 ₹1,944 74
Economic Profit
Residual Income ₹359.09 ₹368.68 ₹372.11 76
ROIC Compounder ₹292.87 ₹344.28 ₹388.63 72
Growth Earnings
Growth-Adj P/E ₹588.34 ₹840.49 ₹1,093 68

Widest divergence: DCF Models (₹1,222) versus Dividend Discount (₹49.91). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹16.5B
Revenue growth (YoY) -50.8%
Net margin 2.6%
Return on equity 6.6%
Free cash flow ₹903M FY2026
P/E ratio 18.6
More key figures
Operating margin 4.7%
EPS (TTM) ₹29.11
Dividend yield 0.6%
EPS growth (YoY) -48.4%
Net debt ₹2.7B FY2026

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 32/100

Of which business quality 38 · Market factors (momentum, volatility) 30

Profitability 49
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 29
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

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 manufactures and trades in petrochemicals in India and internationally. It operates through five segments: Ancillary Infra - Bitumen & Allied Products, Petroleum Vessels Operating and Chartering, Petroleum Products, Logistics, and Windmill.

Full company description

Agarwal Industrial Corporation Limited manufactures and trades in petrochemicals in India and internationally. It operates through five segments: Ancillary Infra - Bitumen & Allied Products, Petroleum Vessels Operating and Chartering, Petroleum Products, Logistics, and Windmill. The company provides various bituminous products, including viscosity grade bitumen and industrial grade bitumen; paving grade bitumen and crumb rubber modified bitumen; polymer modified bitumen, such as ethylene vinyl acetate, ethylene butyl acrylate, ethylene ter polymer, styrene-butadiene styrene, and styrene isoprene styrene; byproducts waterproof materials comprising bitubond, bituplast, bituminous black, bitukote, bituprimer, cable compound, and bitufelt; bitumen insulation materials; and bitumen emulsions. It is involved in the transportation of bulk bitumen and liquefied petroleum gas; rubber processing oil; and generation of 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

FY2022 – FY2026 · reported fiscal years

Agarwal Industrial Corporation reported revenue of ₹16.5B in FY2026 versus ₹16.0B in FY2022, a compound +0.8%/yr. Reported net income was ₹436M in FY2026, compounding −9.1%/yr from FY2022.

Growth Quality 77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹16.5B
Latest YoY
−31.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−6.4%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.8%
Avg. growth/yr (18Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+33.3%
Revenue +0.8%/yr
FY22 ₹16.0B
FY23 ₹20.2B
FY24 ₹21.3B
FY25 ₹24.1B
FY26 ₹16.5B
Net income −9.1%/yr
FY22 ₹637M
FY23 ₹923M
FY24 ₹1.1B
FY25 ₹1.2B
FY26 ₹436M
Character of growth · EPS growth decomposed (2015-2026) +16.0 % p.a.
Revenue per share +10.1 pp

of which total revenue +25.5 pp · buybacks/dilution −15.4 pp

EBIT margin +12.6 pp
Tax rate +2.7 pp
Residual (interest, one-offs) −9.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

AGARIND screens 17% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Agarwal Industrial Corporation Fair Value". https://www.fairvalue-calculator.com/stock/AGARIND

Peer Group

Specialty Chemicals · 674 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.

Quality Score 32 · Bottom 25%
Fair Value upside −17% · Above median
Return on equity (TTM) 7% · Above median
Return on assets 3% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth -51% · Bottom 25%
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.18× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 18.6× · Cheaper than median
P/B 1.17× · Cheaper than median
P/S (TTM) 0.49× · Cheaper than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 7.6× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 11 · sector 0
FUTURE 0 · sector 19
PAST 26 · sector 23
HEALTH 91 · sector 95
DIVIDEND 12 · sector 25

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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 2, 2026).

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Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Agarwal Industrial Corporation (AGARIND) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹420.87 versus a price of ₹507.00, about −17% (overvalued).
What is the fair value of AGARIND?
Our model-based fair value for Agarwal Industrial Corporation is ₹420.87 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹507.00.
What is the quality score of AGARIND?
Agarwal Industrial Corporation has a Quality Score of 32/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Agarwal Industrial Corporation (AGARIND)?
Agarwal Industrial Corporation reported trailing-twelve-month revenue of about ₹16.5B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of AGARIND?
The net profit margin of Agarwal Industrial Corporation is about 2.6%, meaning it keeps roughly 2.6% of revenue as net income. Based on the latest reported figures.
Does Agarwal Industrial Corporation pay a dividend?
Agarwal Industrial Corporation currently shows a dividend yield of about 0.60% relative to its recent price (as of Aug 2, 2026).

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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