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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Valuation
Financials (FY2023)
Investment Thesis
Agarwal Bolts Limited is a legacy industrial fastener company with over five decades of operating history in Kolkata. While the infrastructure sector provides structural demand support, the company's small scale, limited public disclosure, and unlisted status make it a high-illiquidity, speculative investment. Suitable only for investors with deep knowledge of the unlisted micro-cap segment and long holding periods.
Pros
Cons
Business Segments
Bolts & Fasteners Manufacturing
Manufacturing and supply of bolts, nuts, screws, and related fastening hardware for industrial and infrastructure end-uses
Hardware Trading
Trading in complementary industrial hardware and fastener products
Revenue Model
Agarwal Bolts Limited earns revenue through the manufacture and sale of bolts, nuts, and industrial fasteners to B2B customers in construction, engineering, and manufacturing sectors. Revenue is driven by volume-based contracts and repeat orders from regional industrial buyers, with pricing linked to raw material (steel/iron) input costs.
Detailed Analysis
Growth Plans
India's infrastructure spending (PM Gati Shakti, National Infrastructure Pipeline) driving fastener demand
Potential capacity expansion or modernization under new management
Consolidation in the fragmented fastener industry could benefit established players
Industry Tailwinds
India's infrastructure spending (PM Gati Shakti, National Infrastructure Pipeline) driving fastener demand
Recent Developments
Company continues to operate its manufacturing and trading business from Kolkata. No major strategic announcements or expansions have been publicly reported.
2024-01Comparable Companies
SUNDRMFAST · ~₹18,000 Cr
Frequently Asked Questions
About Agarwal Bolts
Agarwal Bolts Limited is one of India's oldest fastener manufacturers, incorporated in 1971 and headquartered at 25 Strand Road, Kolkata, West Bengal. With over 50 years of operating history, the company manufactures bolts, nuts, screws, and related fasteners for industrial and construction applications. Fasteners are critical components used across virtually every manufacturing sector — from automotive and construction to railways, defence, and consumer durables. India's fastener industry is estimated at over Rs 20,000 Crore and growing, driven by automotive production, infrastructure expansion, and increasing manufacturing activity under Make in India. Agarwal Bolts Limited has been operating in Kolkata's industrial ecosystem since 1971, building expertise in standard and special fastener manufacturing for Indian industrial buyers. Kolkata is an important centre for heavy industry, engineering goods, and infrastructure projects in eastern India, providing the company with a strong regional customer base. The company reported revenue of Rs 32.21 Crore for FY2022, with a net worth of Rs 8.12 Crore. While modest in scale, the company benefits from its long-established customer relationships, technical expertise in fastener manufacturing, and the growing demand from India's infrastructure and manufacturing sectors. As one of India's oldest fastener companies, Agarwal Bolts has accumulated decades of knowledge in ferrous fastener production, quality standards compliance (BIS/IS standards), and customer service for industrial buyers. The company competes with larger national fastener manufacturers and international brands but has maintained its position as a regional specialist over five decades.
Key Milestones
Incorporated on 15 September 1971 in West Bengal — over 50 years in industrial fastener manufacturing
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Takes 2 minutes
We source & quote
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Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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Potential capacity expansion or modernization under new management
Consolidation in the fragmented fastener industry could benefit established players
Industry Headwinds
Failure to modernize or scale in a commoditized, competitive market
Prolonged illiquidity and no listing catalyst
Rising input costs without corresponding pricing power
Very small scale with Rs 32.21 Crore revenue against large national competitors
Source: Company Financial Filings
Net worth of Rs 8.12 Crore limits capacity for significant expansion
Source: AlphaHub Research
Limited public financial disclosure
Source: Media Reports / Public Records
Steel and iron input prices directly impact manufacturing cost margins; volatile raw material prices can squeeze profitability.
The fastener industry in India is highly fragmented with thousands of small and medium manufacturers. Competition from low-cost producers and imports from China creates pricing pressure.
Unlisted shares with no formal market; investors may face extended hold periods with no clear exit path.
Traditional manufacturing businesses without visible modernization investment may face competitiveness challenges against more technologically advanced competitors.
Operations concentrated in Kolkata and West Bengal, limiting geographic diversification and growth.
PE: ~35xx
HITECHGEAR · ~₹1,500 Cr
PE: ~20xx
Registered as a Public Limited Company under CIN L28991WB1971PLC028090
Operated through multiple industrial cycles in India, serving construction and engineering sectors
Remains an unlisted entity despite public company status, with shares traded informally