N.R.Agarwal Industries

What N.R.Agarwal Industries does

N.R. Agarwal Industries is an India-based paper products manufacturer headquartered in Mumbai, publicly listed on the BSE under ticker symbol (NRAIL). The company has operated continuously since its founding in 1975 and currently employs between 1,001 and 5,000 people, placing it in the mid-sized bracket of Indian paper producers.

The company's business centers on the manufacturing of paper products for downstream B2B customers in publishing, printing, packaging, and allied industrial segments — the standard addressable market for Indian writing/printing paper mills. Operations are run from a Mumbai corporate base with a corporate website at nrail.com; specific plant locations, installed capacity, and product mix were not disclosed in the input feed and would need confirmation from filings. R N Agarwal serves as Chairman & Managing Director, indicating a promoter-led governance structure typical of Indian listed paper companies.

Revenue mechanics are conventional industrial sales — manufactured tonnage sold into B2B channels. Reported top-line figures show a dip in FY2024 (~$155M) followed by recovery to ~$194M in FY2025 and ~$232M in FY2026, indicating cyclical exposure consistent with the paper industry. The reporting currency/scaling of the source figures was inconsistent and has been interpreted as USD-equivalent millions, with low confidence on absolute magnitude but higher confidence on directional trend.

Name

N.R.Agarwal Industries

Legal name

N R Agarwal Industries Limited

Website

https://nrail.com

Company type

Public

Founded year

1975

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

N.R. Agarwal Industries is an India-based paper products manufacturer, publicly listed on the BSE, founded in 1975 and headquartered in Mumbai. It produces paper for B2B customers across publishing, printing, and packaging, with 1,001-5,000 employees.

Ownership category

akta.pro rank

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure

Core offering

N.R.Agarwal Industries is a paper products manufacturing company. Founded in 1975 and headquartered in Mumbai, India, the company produces paper products for downstream industrial and commercial customers. The publicly listed entity (BSE: N R Agarwal Ind) operates manufacturing operations with 1,001–5,000 employees.

Differentiator

Problem solved

Functional benefit

Products and services

• Paper products Manufactured paper products (paper manufacturing) for industrial and commercial buyers including printers, publishers, converters, and stationery distributors.

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves3 records

Direct peers

• Satia Industries: Satia Industries is an Indian paper and agro-based manufacturer of writing, printing, and packaging paper, directly comparable to N.R.Agarwal on Indian geography, paper product mix, and integrated agro-residue pulp sourcing.
• West Coast Paper Mills: West Coast Paper Mills is an Indian listed paper manufacturer focused on writing, printing, and packaging paper, with similar mill-based operations and domestic customer mix, serving as a direct Indian peer for benchmarking capacity and margin performance.
• Century Pulp & Paper (Birla Cellulose / Century Textiles): Century Pulp & Paper is a major Indian listed manufacturer of writing, printing, and packaging paper with large integrated mills, directly comparable to N.R.Agarwal on product portfolio, scale, and listed-equity exposure in Indian paper markets.
• Tamil Nadu Newsprint and Papers (TNPL): TNPL is a publicly listed Indian paper and newsprint producer with integrated pulp and paper operations, making it directly comparable in scale, product mix (writing/printing/packaging), and listed status on Indian exchanges.
• Emami Paper Mills: Emami Paper Mills is an Indian manufacturer of newsprint and writing/printing paper, directly comparable to N.R.Agarwal as a domestic listed paper producer serving similar customer segments in publishing and packaging.
• Ballarpur Industries (BILT): Ballarpur Industries is a historically large Indian paper manufacturer producing writing, printing, and packaging paper, directly comparable as a domestic paper industry peer despite having undergone significant restructuring in recent years.
• Andhra Paper Mills (formerly International Paper's AP operations): Andhra Paper Mills is an Indian listed paper company producing writing, printing, and packaging paper with integrated pulp operations, comparable in product mix and Indian-listed positioning to N.R.Agarwal Industries.
• JK Paper: JK Paper is one of India's largest publicly listed paper manufacturers producing writing/printing paper, packaging boards, and specialty papers, making it the closest direct comparable to N.R.Agarwal Industries on product mix, Indian geography, and listed-equity scale.

Regional players

• Rama Pulp & Papers: Rama Pulp & Papers is an Indian regional paper manufacturer producing writing and printing paper, providing a regional/India-only peer comparable on product category and domestic customer focus, though smaller in scale than N.R.Agarwal.

Broad incumbents

• International Paper: International Paper is one of the world's largest pulp and paper producers and historically operated in India; it serves as a broad incumbent peer for benchmarking global paper-making scale, capital intensity, and product quality standards relevant to N.R.Agarwal's Indian operations.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about N.R.Agarwal Industries