Agarwal Industrial jumps after bagging Rs 477.5 crore HPCL bitumen supply contract

Agarwal Industrial Corporation surged 20% to Rs 503.55 after the company announced that it has secured a major supply contract worth approximately Rs 477.5 crore from Hindustan Petroleum Corporation Limited (HPCL).

In a regulatory filing, the company said it has been awarded a tender for the supply of around 1.30 lakh metric tonnes of bulk bitumen, comprising VG-30 and VG-40 grades, at Mumbai and Mangalore locations.

The contract, awarded by HPCL, is estimated to be valued at around Rs 477.5 crore and will be executed between 25 May 2026 and 24 May 2027, subject to the terms and conditions of the tender.

The company said the order strengthens its position in the bitumen supply chain and reinforces its long-standing business relationship with HPCL, one of India's leading public sector oil marketing companies.

Agarwal Industrial Corporation manufactures and trades bitumen and allied products used in infrastructure projects. The company also provides bulk bitumen and LPG transportation through its fleet of specialized tankers and generates renewable energy through wind power projects.

On a consolidated basis, Agarwal Industrial Corporation's net profit declined 48.43% to Rs 15.75 crore while net sales declined 50.77% to Rs 405.38 crore in Q4 March 2026 over Q4 March 2025.

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