What we do Agarwal Industrial Corporation Ltd manufactures and trades bitumen and allied products, provides logistics for bitumen and LPG, and generates energy via windmills. |
Founded in 1,995 |
Market share Largest private sector player in bitumen trading and manufacturing with ~20-30% private market share. |
Problem solved Offers integrated bitumen supply chain solutions addressing infrastructure project needs with reliable logistics, storage, and energy supply. |
Top clients or who we serve B2B serving Indian road construction firms, PSUs like BPCL, HPCL, IOCL, and industrial customers nationwide. |
Key management Jaiprakash Agarwal (Managing Director), Lalit Agarwal (Whole-time Director), Ram Chandra Agarwal (Whole-time Director). |
Our journey and innovations Incorporated in 1995, renamed in 2008; expanded manufacturing, port storage, vessel fleet; amalgamated APPL in 2017; ventured into wind energy in 2024. |
Where we operate Manufacturing and storage units across Mumbai, Baroda, Hyderabad, Cochin, Guwahati, Rajasthan, and port operations in India; subsidiary operations in UAE. |
Top products or what we offer Bitumen (VG30/40, industrial, modified types), allied products, bulk logistics for bitumen and LPG, windmill energy generation. |
Top brands Bitumen products under various grades including polymer modified bitumen and emulsions; logistics fleet including 11 vessels and 650+ tankers. |
Raw materials needed Crude oil derivatives for bitumen production, LPG for logistics; primarily sourced via imports and domestic refineries. |
Raw materials supplier Middle Eastern oil refineries and Indian refineries like HPCL, BPCL, IOCL. |
Recurring vs cyclical contribution Revenue is largely cyclical, tied to infrastructure project cycles and seasonal demand for bitumen and logistics. |
Our industry position Leader in India's bitumen market with integrated manufacturing and logistics, capitalizing on government infrastructure spending. |
Financial highlights FY2025 consolidated revenue ₹2409 Cr, PAT ₹116.9 Cr; FY2025 standalone revenue ₹2019 Cr, PAT ₹53.6 Cr; steady growth over previous years. |
Geographical revenue split Majority of revenue from domestic Indian market across multiple states; exports limited to logistics chartering via UAE subsidiary. |
Order book - |
Whats driving growth Infrastructure development, government road projects (Bharatmala, PM Gati Shakti), expanding portfolio into North and Eastern India, logistic integration. |
Our future plans Investment in new storage terminal at Mangalore, manufacturing expansion in Guwahati, increased vessel capacity, and diversification into clean energy. |
Our green promise Invested in windmills for non-conventional energy generation at Rajasthan and Maharashtra. |
Our people and values Experienced leadership team with over 30 years in bitumen and logistics; committed to governance, compliance, and employee safety. |
Key challenges ahead Geopolitical tensions affecting shipping, seasonal demand fluctuations, regulatory compliance, and increasing competition in infrastructure materials. |
Interesting facts Owns a fleet of 11 vessels with 113,549 MT capacity; first Indian company to integrate bitumen manufacturing with logistics and shipping. |
Risks and strategy Mitigates supply chain risks through fleet ownership and storage facilities; strategic diversification into energy and expanding geographical footprint. |
