N R Agarwal Industries Limited has informed the Exchange that the Board of Directors at their meeting held on May 28, 2025 recommended a final dividend of Rs. 2/- per share (face value of Rs. 10/-) subject to approval of shareholders in the ensuing annual general meeting.
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N R Agarwal Industries reported FY25 revenue from operations of Rs. 1,659.03 crore, up 28.3% from Rs. 1,293.38 crore in FY24. However, net profit after tax collapsed to Rs. 17.65 crore from Rs. 125.46 crore, a drop of about 86%, with Q4 FY25 slipping into a loss of Rs. 6.82 crore. The company blamed 'pricing pressure in both paper and board' alongside a sharp rise in finance costs (up nearly 6x to Rs. 60.91 crore) and depreciation (up 75% to Rs. 65.57 crore). The board declared a modest final dividend of Rs. 2 per share (20% on face value of Rs. 10). The auditor GMJ & Co gave an unmodified opinion, and ICRA credit rating stands at A.
Strong top-line growth is offset by severe margin compression and a sharp earnings decline, suggesting cost overruns or weak pricing power. The tiny dividend signals caution despite revenue expansion. Shareholders may see the stock pressured until margin recovery is visible, though operating cash flow stayed healthy at Rs. 176.11 crore.