Hilltone Software and Gases Lt
BSE: HILLTONE · Industrial Gases · sector
₹41.50BSE close 2026-10-26
Key numbers
Market cap₹481 cr
Price₹41.50
52w high / low₹93 / ₹33
P/E46.6xSector median 30.5x
P/B20.7xSector median 3.3x
Book value₹2.0
Dividend yield–Sector median 0.21%
ROE-3.6%Sector median 9.3%
ROCE-3.5%Sector median 9.9%
OPM-4.6%Sector median 15.2%
Debt / equity0.07xSector median 0.08x
EV/EBITDA–Sector median 24.6x
Interest cover-3.1x
Current ratio5.91x
Sales growth 3y–Sector median +9.2%
Profit growth 3y–Sector median -57.9%
PEG–
Last 12 months to Jun 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 ₹4 cr vs borrowings ₹2 cr (FY26): cash is higher (net cash).
- Operating profit covered interest -3.1x in the last 12 months.
- Net loss in 5 of the last 6 quarters.
- No dividend in the last 2 financial years.
- Price ₹41.50 on 2026-10-26: -55.4% from the 52-week high, +26.3% 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 ₹89.95 · low ₹24.49
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|
| Revenue | 2 | 2 | 3 | 7 | 2 | 2 |
| EBITDA | -0 | -0 | -1 | 1 | -0 | -1 |
| OPM % | -10.4% | -11.1% | -15.1% | 18.1% | -11.3% | -67.7% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit | -0 | -0 | -1 | 1 | -0 | -1 |
| EPS (₹) | 0.86 | 0.16 | 0.06 | 0.75 | 0.02 | 0.06 |
| Revenue YoY | +14.4% | -32.5% | ||||
| Profit YoY | – | – |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY25 | FY26 | TTM |
|---|---|---|---|
| Revenue | 8 | 15 | 14 |
| EBITDA | -0 | 0 | -1 |
| Net profit | -0 | 0 | -1 |
| EPS (₹) | 0.28 | 0.12 | 0.89 |
| Revenue growth | +95.9% | – | |
| Profit growth | – | – | |
| Dividend / share (₹) | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | – | – | – |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | – (2y) | -33.9% |
Balance sheet
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Shareholders' equity | 14 | 23 |
| Borrowings | 0 | 2 |
| Cash & equivalents | 2 | 4 |
| Total assets | 18 | 27 |
| Fixed assets | 5 | 10 |
| Capital work in progress | 1 | 1 |
| Investments | 0 | 0 |
| Receivables | 1 | 3 |
| Inventory | 1 | 2 |
| Payables | 1 | 1 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Cash from operations | 1 | -4 |
| Cash from investing | 1 | -3 |
| Cash from financing | -0 | 9 |
| Capex | 2 | 4 |
| Free cash flow | -1 | -9 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY25 | FY26 |
|---|---|---|
| ROE % | -1.1% | 0.6% |
| ROCE % | 2.4% | 0.6% |
| Debtor days | 53 | 63 |
| Inventory days | 40 | 93 |
| Payable days | 65 | 22 |
| Cash conversion cycle (days) | 28 | 134 |
| Working capital days | 113 | 197 |
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% | – |
Business segments (2026-06-30)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Sale of Gases | ₹1 cr | 91.0% | ₹-0 cr | -31.2% |
| Sale of Software | ₹0 cr | 9.0% | ₹0 cr | 50.0% |
| Engineering Dept (Heat Exchanger) | ₹0 cr | – | ₹-1 cr | – |
Documents
Links go to the original files on the exchange website.
About the company
| Sector | Commodities |
| Industry | Industrial Gases |
| Sub-industry | Industrial Gases |
| Symbol | HILLTONE |
| BSE code | 544308 |
| ISIN | INE168C01013 |
| 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.