Agarwal Industrial Corporation Shares Rally After Winning ₹330 Crore IOCL Order

Mumbai, September 17, 2025: Agarwal Industrial Corporation Limited (NSE: AGARIND, BSE: 531921) shares surged in Wednesday trading after it said it has received a big supply order from Indian Oil Corporation Limited (IOCL) of about ₹330.05 crore. The share price increased by 3.59% to ₹939.90 at 1:07 pm IST from the last close of ₹907.35, reaching an intraday high of ₹960.00 before scaling.

Agarwal Industrial Corporation Limited, which has been listed on Indian exchanges since 2014, is a leading petrochemicals player with a specific focus on bitumen and logistics solutions. The consistent history of winning more or less large-scale supply orders has cemented the company’s image as a reliable partner for major oil companies.

Order Details

The firm has announced that it has secured a highly prestigious IOCL tender for the supply of bulk bitumen, namely VG-30 and VG-40 grades, to Kakinada terminals. The order comprises firm orders of 60,500 metric tonnes worth ₹213.56 crore, along with an optional supply of 33,000 metric tonnes worth ₹116.50 crore. Combined, the contract value is ₹330.05 crore.

The offering will be made in several tranches comprising 11 firm and 6 voluntary consignments, as per the IOCL terms. The transaction further reaffirms Agarwal Industrial’s leadership position in India’s crucial bitumen supply chain.

Stock Market Performance

The stock opened at ₹902.25 and touched its day’s high at ₹960.00, while the session’s low was at ₹902.25. Volume-weighted average price (VWAP) was at ₹935.12.

Over the past year, the company’s stock has experienced volatility, hitting a 52-week high of ₹1,380.00 on December 20, 2024, and a low of ₹766.85 on August 29, 2025. At current levels, the company commands a market capitalization of ₹1,423.61 crore and trades at a price-to-earnings (P/E) ratio of 15.13.

Management Commentary

Whole-time Director Lalit Agarwal called the order a “prestigious win” for the company. He said that the contract underscores Agarwal Industrial’s increasing dependability in India’s bitumen supply chain and further solidifies its long-standing association with IOCL.

REF: https://nsearchives.nseindia.com/corporate/AGARIND_17092025102828_Work_Order_IOCL.pdf

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