The present study aimed to evaluate the relative efficacy of different organic and industrial wastes, namely, farmyard manure (FYM), water hyacinth (WH) and paper factory sludge (PFS) in combination with chemical fertilizer (CF) along with or without soil amendments like lime or rice husk ash (RHA) on plant growth, yield, mineral composition, oil content, protein content and hydration coefficient of peanut kernels. Results revealed that the integrated application of organic or industrial wastes and CF in conjunction with soil amendments significantly (p ≤ 0.05) improved the yield and quality of peanut kernels over sole CF. Application of RHA improved the content of P, K, Ca, Mg, Fe, Mn, Zn and Cu. Application of lime under similar combinations decreased the content of Fe, Mn, Zn and Cu, however, improved the content the other nutrients in kernels. Among three organic sources, PFS was superior against FYM and WH. RHA along with organic wastes and CF improved the yield and quality of peanut kernels in a better and comparable way than lime. Hence, these two industrial wastes (PFS and RHA) could be used as a substitute for FYM and lime, respectively, for improving yield and quality of peanut kernels under acid lateritic soils.