Integrated Filing — IndAS



General information about company
Scrip Code 516082
NSE Symbol NRAIL
MSEI Symbol NA
ISIN INE740D01017
Name of company N R Agarwal Industries Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 28-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 19-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Half Yearly
Reporting Quarter Yearly
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Paper
Start date and time of board meeting 28-May-2025   15:00:00
End date and time of board meeting 28-May-2025   16:30:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)? No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 2025-02-11
Indicate Company website link for updated RPT policy of the Company www.nrail.com
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
The Company has not made any default on loans or debt securities during the period under review



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Oct-2024 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 4657354000 16590317000
Other income 11289000 313966000
Total income 4668643000 16904283000
2 Expenses
(a) Cost of materials consumed 3107069000 10616190000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade -9087000 -181120000
(d) Employee benefit expense 243224000 975710000
(e) Finance costs 157663000 609119000
(f) Depreciation, depletion and amortisation expense 163577000 655736000
(f) Other Expenses
1 Power, fuel and water 615948000 2501768000
2 Other Expenses 423627000 1567318000
Total other expenses 1039575000 4069086000
Total expenses 4702021000 16744721000
3 Total profit before exceptional items and tax -33378000 159562000
4 Exceptional items 0 0
5 Total profit before tax -33378000 159562000
6 Tax expense
7 Current tax 154000 -70159000
8 Deferred tax 34662000 53211000
9 Total tax expenses 34816000 -16948000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations -68194000 176510000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period -68194000 176510000
17 Other comprehensive income net of taxes 9023000 486000
18 Total Comprehensive Income for the period -59171000 176996000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 170191000 170191000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 7575676000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -4.01 10.37
Diluted earnings (loss) per share from continuing operations -4.01 10.37
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -4.01 10.37
Diluted earnings (loss) per share from continuing and discontinued operations -4.01 10.37
24 Debt equity ratio 0 0
25 Debt service coverage ratio 0 0
26 Interest service coverage ratio 0 0
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results
Textual Information(1) 1. These financial results have been prepared in accordance with Indian Accounting Standards Ind AS as prescribed under Section 133 of the Companies Act 2013 read with Rule 3 of the Companies Indian Accounting Standards Rules 2015 and relevant amendments thereafter.2. The above quarterly and year ended financial results have been reviewed by the Audit Committee on May 28 2025 and approved by the Board of Directors. The Statutory Auditors have carried out an audit of these financial results and given unmodified opinion on the same. 3. The Company is engaged in the business of manufacture and sale of paper and paper boards, which in the context of Indian Accounting Standard Ind AS 108 Operating Segment is considered as the single operating segment of the Company.4.Performance for the quarter and year ended 31.03.2025 were impacted due to pricing pressure in both paper and board.5. The Board of Directors has recommended Dividend of Rs. 2 only per fully paid up equity share of Rs. 10 only each Face Value for the Financial Year ended March 31 2025. This payment of dividend is subject to approval of members of the Company at ensuing Annual General Meeting of the Company.6. The figures of the last quarter ended March 31 2025 and quarter ended March 31 2024 are the balancing figures between the audited figures of the full financial year and the published year to date figures for the nine months ended respectively.7. Previous quarters or year figures have been recast or regrouped wherever necessary.



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 11708207000
Capital work-in-progress 197404000
Investment property 0
Goodwill 0
Other intangible assets 263453000
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 280029000
Trade receivables, non-current 0
Loans, non-current 1937000
Other non-current financial assets 42950000
Total non-current financial assets 324916000
Deferred tax assets (net) 0
Other non-current assets 95138000
Total non-current assets 12589118000
2 Current assets
Inventories 1675491000
Current financial asset
Current investments 727131000
Trade receivables, current 1864266000
Cash and cash equivalents 6660000
Bank balance other than cash and cash equivalents 10460000
Loans, current 6996000
Other current financial assets 345843000
Total current financial assets 2961356000
Current tax assets (net) 43613000
Other current assets 425499000
Total current assets 5105959000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 17695077000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 170191000
Other equity 7575676000
Total equity attributable to owners of parent 7745867000
Non controlling interest
Total equity 7745867000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 5013226000
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0
Total Trade payable 0
Other non-current financial liabilities 239043000
Total non-current financial liabilities 5252269000
Provisions, non-current 38645000
Deferred tax liabilities (net) 811424000
Deferred government grants, Non-current 0
Other non-current liabilities 0
Total non-current liabilities 6102338000
Current liabilities
Current financial liabilities
Borrowings, current 1197640000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 199043000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 2104636000
Total Trade payable 2303679000
Other current financial liabilities 262443000
Total current financial liabilities 3763762000
Other current liabilities 69413000
Provisions, current 13697000
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 3846872000
3 Liabilities directly associated with assets in disposal group classified as held for sale 0
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 9949210000
Total equity and liabilites 17695077000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Oct-2024 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Oct-2024 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Measurements of the defined benefit plans 12422000 1719000
2 Deferred Tax relating to the above items -3127000 -433000
3 Equity Instruments through other comprehensive income -365000 -1070000
4 Deferred Tax relating to the above items 93000 270000
Total Amount of items that will not be reclassified to profit and loss 9023000 486000
2 Income tax relating to items that will not be reclassified to profit or loss 0 0
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0 0
5 Total Other comprehensive income 9023000 486000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 159562000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 584721000
Adjustments for decrease (increase) in inventories 18627000
Adjustments for decrease (increase) in trade receivables, current -995695000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets 442215000
Adjustments for decrease (increase) in other non-current assets 3197000
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current -324531000
Adjustments for other bank balances 165707000
Adjustments for increase (decrease) in trade payables, current 1677338000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities -584000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 655736000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current -8351000
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current -439049000
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 926000
Adjustments for dividend income 7485000
Adjustments for interest income 12019000
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) -133898000
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) -9526000
Other adjustments for non-cash items -1794000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) 1615535000
Net cash flows from (used in) operations 1775097000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 14027000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 1761070000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 95324000
Purchase of property, plant and equipment 1196641000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 7485000
Interest received 7918000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -660963000
Net cash flows from (used in) investing activities -1746877000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 520036000
Repayments of borrowings 0
Payments of lease liabilities 64060000
Dividends paid 34038000
Interest paid 595328000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 164123000
Net cash flows from (used in) financing activities -9267000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 4926000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents 4926000
Cash and cash equivalents cash flow statement at beginning of period 1734000
Cash and cash equivalents cash flow statement at end of period 6660000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 GMJ and Co. Yes 31-Mar-2027


Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 N R Agarwal Industries Limited Rajendra Agarwal Chairman and Managing Director Remuneration Approval taken from audit committee 19985000 0 0
2 N R Agarwal Industries Limited Raunak Agarwal Executive Director Remuneration Approval taken from audit committee 3630000 0 0
3 N R Agarwal Industries Limited Reena Agarwal Executive Director Remuneration Approval taken from audit committee 3630000 0 0
4 N R Agarwal Industries Limited Rohan Agarwal Executive Director and CEO Remuneration Approval taken from audit committee 3630000 0 0
5 N R Agarwal Industries Limited P K Mundra Executive Director and CFO Remuneration Approval taken from audit committee 5718000 0 0
6 N R Agarwal Industries Limited Pooja Daftary Company Secretary Remuneration Approval taken from audit committee 1149000 0 0
7 N R Agarwal Industries Limited Natasha Agarwal Other Related Party Relative of Promoter Remuneration Approval taken from audit committee 1179000 0 0
8 N R Agarwal Industries Limited Anuvaa Agarwal Other Related Party Relative of Promoter Remuneration Approval taken from audit committee 1179000 0 0
9 N R Agarwal Industries Limited R K Bakshi Independent Director Any other transaction Sitting Fees Approval taken from audit committee 190000 0 0
10 N R Agarwal Industries Limited Sunita Nair Independent Director Any other transaction Sitting Fees Approval taken from audit committee 90000 0 0
11 N R Agarwal Industries Limited K L Chandak Independent Director Any other transaction Sitting Fees Approval taken from audit committee 150000 0 0
12 N R Agarwal Industries Limited Sanjay Sinha Independent Director Any other transaction Sitting Fees Approval taken from audit committee 120000 0 0
13 N R Agarwal Industries Limited Neeraj Golas Independent Director Any other transaction Sitting Fees Approval taken from audit committee 100000 0 0
14 N R Agarwal Industries Limited Rajendra Agarwal Chairman and Managing Director Any other transaction Deposits received from Director Approval taken from audit committee 20300000 0 0
15 N R Agarwal Industries Limited Raunak Agarwal Executive Director Any other transaction Deposits received from Director Approval taken from audit committee 19750000 0 0
16 N R Agarwal Industries Limited Reena Agarwal Executive Director Any other transaction Deposits received from Director Approval taken from audit committee 24850000 0 0
17 N R Agarwal Industries Limited Rohan Agarwal Executive Director and CEO Any other transaction Deposits received from Director Approval taken from audit committee 5900000 0 0
18 N R Agarwal Industries Limited Rajendra Agarwal Chairman and Managing Director Any other transaction Deposits repaid to Director Approval taken from audit committee 6500000 0 0
19 N R Agarwal Industries Limited Raunak Agarwal Executive Director Any other transaction Deposits repaid to Director Approval taken from audit committee 19500000 0 0
20 N R Agarwal Industries Limited Reena Agarwal Executive Director Any other transaction Deposits repaid to Director Approval taken from audit committee 39750000 0 0
21 N R Agarwal Industries Limited Rohan Agarwal Executive Director and CEO Any other transaction Deposits repaid to Director Approval taken from audit committee 200000 0 0
22 N R Agarwal Industries Limited Rajendra Agarwal Chairman and Managing Director Interest paid Approval taken from audit committee 120000 0 0
23 N R Agarwal Industries Limited Raunak Agarwal Executive Director Interest paid Approval taken from audit committee 173000 0 0
24 N R Agarwal Industries Limited Reena Agarwal Executive Director Interest paid Approval taken from audit committee 380000 0 0
25 N R Agarwal Industries Limited Rohan Agarwal Executive Director and CEO Interest paid Approval taken from audit committee 22000 0 0
26 N R Agarwal Industries Limited Rajendra Agarwal Chairman and Managing Director Any other transaction Rent paid to Director Approval taken from audit committee 6000000 0 0
27 N R Agarwal Industries Limited Reena Agarwal Executive Director Any other transaction Rent paid to Director Approval taken from audit committee 3000000 0 0
28 N R Agarwal Industries Limited Rajendra Agarwal Chairman and Managing Director Any other transaction Leave Encashment paid to Directors Approval taken from audit committee 2885000 0 0
29 N R Agarwal Industries Limited Raunak Agarwal Executive Director Any other transaction Leave Encashment paid to Directors Approval taken from audit committee 692000 0 0
30 N R Agarwal Industries Limited Reena Agarwal Executive Director Any other transaction Leave Encashment paid to Directors Approval taken from audit committee 692000 0 0
31 N R Agarwal Industries Limited Rohan Agarwal Executive Director and CEO Any other transaction Leave Encashment paid to Directors Approval taken from audit committee 692000 0 0
32 N R Agarwal Industries Limited Maruti Paper Corporation Other Related Party Sale of goods or services Approval taken from audit committee 36117000 0 0
33 N R Agarwal Industries Limited Rajendra Agarwal Chairman and Managing Director Any other transaction Commission paid to Director Approval taken from audit committee 16500000 0 0 Textual Information(1)
34 N R Agarwal Industries Limited Raunak Agarwal Executive Director Any other transaction Commission paid to Director Approval taken from audit committee 16500000 0 0 Textual Information(2)
35 N R Agarwal Industries Limited Reena Agarwal Executive Director Any other transaction Commission paid to Director Approval taken from audit committee 16500000 0 0 Textual Information(3)
36 N R Agarwal Industries Limited Rohan Agarwal Executive Director and CEO Any other transaction Commission paid to Director Approval taken from audit committee 16500000 0 0 Textual Information(4)
Total value of transaction during the reporting period 294273000



Text Block
Textual Information(1) Commission paid for the financial year 2023 24
Textual Information(2) Commission paid for the financial year 2023 24
Textual Information(3) Commission paid for the financial year 2023 24
Textual Information(4) Commission paid for the financial year 2023 24