Gagan Gases Ltd.
BSE: GAGAN · Industrial Gases · sector
₹18.25BSE close 2026-10-26
Key numbers
Market cap₹8 cr
Price₹18.25
52w high / low₹38 / ₹12
P/E29.9xSector median 30.5x
P/B2.4xSector median 3.3x
Book value₹7.8
Dividend yield–Sector median 0.21%
ROE8.1%Sector median 9.3%
ROCE8.9%Sector median 9.9%
OPM7.2%Sector median 15.2%
Debt / equity0.11xSector median 0.08x
EV/EBITDA24.6xSector median 24.6x
Interest cover11.6x
Current ratio80.47x
Sales growth 3y+39.7%Sector median +9.2%
Profit growth 3y-57.9%Sector median -57.9%
PEG–
Last 12 months to Sep 2026, Standalone. "Sector median" = middle value of 8 companies in Industrial Gases (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹0 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 11.6x in the last 12 months.
- Net loss in 2 of the last 7 quarters.
- Other income was 22% of net profit in the last 12 months.
- No dividend in the last 5 financial years.
- Price ₹18.25 on 2026-10-26: -51.6% from the 52-week high, +53.4% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹32.70 · low ₹13.21
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | 1 | 1 | 2 | 2 | 2 | 1 | 1 |
| EBITDA | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| OPM % | 11.4% | -5.8% | 0.6% | 5.8% | 8.8% | 9.4% | 4.3% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit | 0 | -0 | -0 | 0 | 0 | 0 | 0 |
| EPS (₹) | 0.25 | 0.15 | 0.01 | 0.18 | 0.30 | 0.09 | 0.04 |
| Revenue YoY | +72.4% | -38.4% | -57.6% | ||||
| Profit YoY | +18.2% | – | – |
Standalone figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 3 | 2 | 2 | 6 | 6 | 5 |
| EBITDA | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit | 0 | 2 | 0 | 0 | 0 | 0 |
| EPS (₹) | 0.13 | 4.13 | 0.13 | 0.59 | 0.31 | 0.61 |
| Revenue growth | -23.8% | -3.6% | +167.1% | +6.0% | – | |
| Profit growth | +3,016.7% | -96.8% | +350.0% | -48.1% | – | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +39.7% | – | – |
| Net profit | -57.9% | – | – |
| EPS | -57.8% | – | – |
| Share price | – | -12.3% (2y) | -25.6% |
Balance sheet
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Shareholders' equity | 3 | 3 |
| Borrowings | 0 | 0 |
| Cash & equivalents | 0 | 0 |
| Total assets | 4 | 4 |
| Fixed assets | 1 | 0 |
| Capital work in progress | 0 | 0 |
| Investments | 0 | 0 |
| Receivables | 0 | 1 |
| Inventory | 0 | 0 |
| Payables | 0 | 0 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Cash from operations | 0 | -0 |
| Cash from investing | -0 | 0 |
| Cash from financing | -0 | -0 |
| Capex | 0 | 0 |
| Free cash flow | 0 | -0 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY25 | FY26 |
|---|---|---|
| ROE % | 8.0% | 4.0% |
| ROCE % | 10.2% | 5.6% |
| Debtor days | 18 | 34 |
| Inventory days | 0 | 7 |
| Payable days | 0 | 1 |
| Cash conversion cycle (days) | 18 | 40 |
| Working capital days | 206 | 205 |
Peers in Industrial Gases
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| LINDEINDIA | ₹48,036 cr | 87.9x | 11.2x | 13.5% | 16.2% | 34.4% | – | 0.21% |
| ELLEN | ₹4,244 cr | 35.2x | 4.3x | 12.3% | 13.9% | 34.5% | – | – |
| STEAMHOUSE | ₹3,095 cr | – | – | – | – | – | – | – |
| STALLION | ₹1,427 cr | 30.5x | 2.1x | 10.6% | 9.9% | 15.2% | – | – |
| HILLTONE | ₹481 cr | 46.6x | 20.7x | -3.6% | -3.5% | -4.6% | – | – |
| NOL | ₹28 cr | 2.3x | – | – | 14.6% | 25.0% | -21.3% | – |
| BHAGGAS | ₹15 cr | 5.8x | 0.9x | 6.6% | 7.7% | -803.1% | – | – |
| GAGAN | ₹8 cr | 29.9x | 2.4x | 8.1% | 8.9% | 7.2% | +39.7% | – |
Documents
Links go to the original files on the exchange website.
About the company
| Sector | Commodities |
| Industry | Industrial Gases |
| Sub-industry | Industrial Gases |
| Symbol | GAGAN |
| BSE code | 524624 |
| ISIN | INE076D01016 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-24 from BSE company filings (inline XBRL: Integrated Filing - Finance) + BSE results summary for earlier years; price = BSE close 2026-10-26.