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Dossier · AG VENTURES LIMITED · 28 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
Formerly Oriental Carbon and Chemicals, the company rebranded to AG Ventures Limited after demerging its chemicals business (Insoluble Sulphur & Chemicals) during FY26. The continuing business is reported as a single segment with FY26 revenue of Rs 80.67 crore, though quarterly trend data shows General Engineering Products and Investments & Trading as the two operating activities. General Engineering Products is the larger contributor, while Investments & Trading contributed only Rs 0.40 crore in the final quarter of FY26. Total revenue for FY26 was Rs 107.21 crore with a net profit of Rs 7.50 crore and an EBITDA margin of 10.8%. The main cost line is materials at 39.8% of revenue, followed by employees at 20.0% and other operating expenses at 16.9%. The company is listed on BSE and underwent leadership changes in FY26, with Mr. Gaurav Jain appointed as CEO in May 2026 and a new CFO yet to be appointed as of June 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. General Engineering Products, Investments & Trading. Small-cap diversified company post-demerger of chemicals business
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
444
536
464
108
107
EBITDA (ex other income)
87
110
103
13
8
margin %
19.6
20.5
22.3
12.1
7.2
Owners' profit
43
49
46
10
4
EPS, as reported (₹)
43.11
48.69
46.19
10.48
5.08
ROE % · ROCE %
8.0 · 9.7
8.6 · 11.2
7.5 · 10.2
4.4 · 3.8
2.5 · 2.2
Debt / equity (x)
0.32
0.26
0.20
0.00
0.09
Cash from operations
53
105
97
15
(6)
Capex
(55)
(22)
(21)
(6)
(68)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · AG VENTURES LIMITED · 28 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Revenue
19
32
30
28
21
30
31
25
Profit before tax
1
5
3
2
2
1
2
0
Net profit
8
1
2
2
4
1
2
1
EPS (₹)
7.79
0.20
1.86
0.89
3.17
0.20
1.73
0.02
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
Segment
Revenue, ₹ crore
Share %
Investments & Trading
15
14.0
General Engineering Products
61
56.9
a) Investments & Trading
12
10.7
b) General Engineering Products
20
18.3
Total, before eliminations
107
100.0
Source: the filed segment block, four quarters summed.
Exhibit 4: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
TATA CHEMICALS LTD
15,264
—
0.69
138.7
(7.7)
(5.0)
7.4
14.4
DEEPAK FERTILIZERS & PETR
14,972
15.2
2.01
11.2
9.9
8.4
14.6
26.1
GUJ NAR VAL FER & CHEM L
7,504
7.2
0.82
5.4
8.9
10.3
8.7
22.1
TANFAC INDUSTRIES LTD.
6,785
55.5
18.18
—
18.8
24.3
—
16.0
GUJARAT ALKALIES & CHEM
4,019
60.5
0.77
8.5
(0.0)
0.7
12.4
18.4
GHCL LIMITED
3,630
7.9
1.02
4.8
13.3
16.6
1.1
23.9
GRAUER & WEIL IND LTD
3,537
21.6
3.27
14.4
15.2
19.2
14.5
20.4
J.G.CHEMICALS LIMITED
2,206
29.4
4.08
22.4
12.7
16.9
—
11.5
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 5: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
24.7
17.1
35 of 50
31%
P/B
0.4
1.3
6 of 60
92%
ROCE
1.8
6.0
43 of 62
31%
ROE
2.5
5.0
37 of 60
39%
Debt / Equity
0.1
0.2
22 of 60
64%
EBITDA margin
7.3
13.3
37 of 58
37%
Revenue growth
(9.4)
6.7
42 of 54
23%
Profit growth
(62.6)
21.0
49 of 64
24%
Market cap
126
104
32 of 66
52%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · AG VENTURES LIMITED · 28 October 2026Page 3 of 3
Exhibit 6: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
21 Oct 2026 · Special window for re-lodging physical share transfer requests
compliance
minimal
—
—
14 Oct 2026 · Submission of dematerialisation certificate for Q2 FY26
compliance
minimal
—
—
25 Sept 2026 · Trading window closed for Q2 and H1 FY27 results
compliance
minimal
—
—
23 Sept 2026 · Newspaper ad on transfer of unclaimed shares and dividend to IEPF
compliance
minimal
—
—
12 Aug 2026 · Newspaper notice on special window for physical share transfer re-lodgement
compliance
minimal
—
—
10 Aug 2026 · Muskaan Suhag joins as Company Secretary and Compliance Officer
management changes
medium
—
—
7 Aug 2026 · AG Ventures appoints new CFO and Company Secretary, posts strong Q1 results
management changes
high
—
—
7 Aug 2026 · AG Ventures Q1 FY27 results approved, new CFO and CS appointed
results
high
—
—
7 Aug 2026 · AG Ventures Q1 FY27: strong revenue and profit growth, new CFO and CS appointed
results
high
—
—
31 Jul 2026 · AG Ventures Board to consider Q1 FY27 results on Aug 7, 2026
results
low
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
