National Oxygen Ltd.
BSE: NOL · Industrial Gases · sector
₹55.72BSE close 2026-10-26
Key numbers
Market cap₹28 cr
Price₹55.72
52w high / low₹132 / ₹42
P/E2.3xSector median 30.5x
P/B–Sector median 3.3x
Book value₹-12.1
Dividend yield–Sector median 0.21%
ROE–Sector median 9.3%
ROCE14.6%Sector median 9.9%
OPM25.0%Sector median 15.2%
Debt / equity–Sector median 0.08x
EV/EBITDA12.2xSector median 24.6x
Interest cover2.1x
Current ratio0.44x
Sales growth 3y-21.3%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 ₹1 cr vs borrowings ₹29 cr (FY26): borrowings are higher by ₹28 cr.
- Operating profit covered interest 2.1x in the last 12 months.
- Net loss in 5 of the last 6 quarters.
- Other income was 56% of net profit in the last 12 months.
- No dividend in the last 5 financial years.
- Price ₹55.72 on 2026-10-26: -57.9% from the 52-week high, +31.1% 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 ₹143.90 · low ₹52.86
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|
| Revenue | 9 | 8 | 6 | 5 | 4 | 3 |
| EBITDA | -2 | -1 | 8 | -1 | -1 | -1 |
| OPM % | -20.5% | -13.7% | 120.6% | -14.7% | -27.7% | -40.8% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit | -3 | -2 | 7 | -2 | -2 | -2 |
| EPS (₹) | 0.00 | 3.71 | 13.96 | 3.08 | 3.53 | 3.98 |
| Revenue YoY | -53.9% | -59.9% | ||||
| Profit YoY | – | – |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 51 | 47 | 45 | 41 | 23 | 18 |
| EBITDA | 11 | 4 | 1 | -2 | 5 | 5 |
| Net profit | 8 | -1 | -3 | -7 | 2 | 2 |
| EPS (₹) | 15.88 | -1.65 | -6.60 | 0.00 | 3.64 | 24.55 |
| Revenue growth | -6.9% | -3.9% | -10.3% | -43.4% | – | |
| Profit growth | -110.4% | – | – | – | – | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -21.3% | – | – |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | -33.1% (2y) | -46.6% |
Balance sheet
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Shareholders' equity | -8 | -6 |
| Borrowings | 31 | 29 |
| Cash & equivalents | 1 | 1 |
| Total assets | 31 | 28 |
| Fixed assets | 20 | 18 |
| Capital work in progress | 0 | 3 |
| Investments | 0 | 0 |
| Receivables | 3 | 2 |
| Inventory | 1 | 1 |
| Payables | 4 | 3 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Cash from operations | -0 | -1 |
| Cash from investing | -0 | 5 |
| Cash from financing | 0 | -3 |
| Capex | 0 | 5 |
| Free cash flow | -0 | -6 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY25 | FY26 |
|---|---|---|
| ROE % | 87.4% | -30.1% |
| ROCE % | -23.9% | 14.4% |
| Debtor days | 29 | 28 |
| Inventory days | 5,908 | 2,541 |
| Payable days | 27,725 | 10,272 |
| Cash conversion cycle (days) | -21,788 | -7,703 |
| Working capital days | -40 | -90 |
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% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2013-09-18 | Dividend | Dividend Rs 1.0 |
| 2012-05-10 | Dividend | Interim Dividend Rs 1.0 |
| 2011-08-24 | Dividend | Dividend Rs 1.0 |
| 2010-09-07 | Dividend | Dividend Rs 1.0 |
| 2009-09-08 | Dividend | Dividend Rs 1.0 |
Documents
Links go to the original files on the exchange website.
About the company
| Sector | Commodities |
| Industry | Industrial Gases |
| Sub-industry | Industrial Gases |
| Symbol | NOL |
| BSE code | 507813 |
| ISIN | INE296D01010 |
| 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.