13 Apr 2026, 3:31 pmCompany Update
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 PDF
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National Oxygen Ltd operates in Industrial Gases within the Materials sector.
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| Company | Mkt Cap | EV | Revenue | EBITDA | OPM | PAT | NPM | ROCE | ROE | WC Days |
|---|---|---|---|---|---|---|---|---|---|---|
| Linde India LimitedLINDEINDIALINDEINDIA | ₹53,291 Cr | ₹53,291 Cr | ₹2,654 Cr | ₹913 Cr | 35.9% | ₹546 Cr | 21.7% | 15.9% | 13.6% | -217 |
| Ellenbarrie Industrial Gases LimitedELLENELLEN | ₹4,815 Cr | ₹4,995 Cr | ₹357 Cr | ₹123 Cr | 34% | ₹121 Cr | 30.6% | 16% | 14.2% | 63 |
| Steamhouse India LimitedSTEAMHOUSESTEAMHOUSE | ₹2,944 Cr | ₹3,226 Cr | — | — | — | — | — | — | — | — |
| Stallion India Fluorochemicals LimitedSTALLIONSTALLION | ₹2,691 Cr | ₹2,694 Cr | ₹377 Cr | ₹48 Cr | 12.7% | ₹32 Cr | 8.6% | 22.8% | 15.2% | — |
| Hilltone Software and Gases LtdHILLTONEHILLTONE | ₹51 Cr | ₹52 Cr | ₹15 Cr | ₹0 Cr | 2.2% | ₹-0 Cr | 1% | 0.7% | 0.8% | 134 |
| National Oxygen LtdNOLNOL | ₹28 Cr | ₹56 Cr | ₹40 Cr | ₹6 Cr | — | ₹-1 Cr | 8% | -8.7% | — | — |
| Bhagawati Gas LtdBHAGGASBHAGGAS | ₹18 Cr | ₹19 Cr | ₹0 Cr | ₹-3 Cr | -564% | ₹0 Cr | 396% | 6.3% | 6.5% | 6,333 |
| Gagan Gases LtdGAGANGAGAN | ₹8 Cr | ₹9 Cr | ₹2 Cr | ₹0 Cr | 3.7% | ₹0 Cr | 2.3% | 5.7% | 4.1% | 40 |
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Documents link to external sources (exchange filings, company investor pages).
Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 95.2% | 98.3% | — | — | — | — |
| EBITDA margin % | 18.6% | 14.6% | 15.7% | 22.6% | 7.8% | 2.7% | -6.1% | — |
| EBIT margin % | 10.9% | 6.8% | 7.5% | 16.5% | 0.9% | -4.6% | -14% | — |
| PAT margin % | 7.7% | -3.6% | -2.8% | 15.1% | -1.7% | -7.1% | -17.3% | 8% |
| Working capital | ||||||||
| Receivable days | — | 41 | 46 | 36 | 41 | 43 | 29 | — |
| Inventory days | — | 4 | 120 | 387 | 9 | 8 | 8 | — |
| Payable days | — | 33 | 652 | 1,412 | 27 | 24 | 37 | — |
| NWC days | — | 12 | -485 | -989 | 24 | 27 | 0 | — |
| Leverage | ||||||||
| Current ratio | — | 0.78 | 0.8 | 1.93 | 1.51 | 0.85 | 0.67 | 0.44 |
| Debt to EBITDA | — | 6.03 | 3.63 | 2.66 | 7.22 | 18.23 | — | — |
| Debt to equity | — | -5.89 | 5.18 | 3,037 | -28.56 | -22.61 | -3 | -4.69 |
| Interest coverage | 1.1 | 0.7 | 0.8 | 4.5 | 0.6 | -1 | -3.4 | -1.1 |
| Asset turnover | — | 1.15 | 1.11 | 1.27 | 1.35 | 1.33 | 1.3 | 0.81 |
| Return ratios | ||||||||
| Return on assets % | — | -4.1% | -3.1% | 19.2% | -2.3% | -9.5% | -22.5% | 6.5% |
| Return on capital employed % | — | 11.7% | 12.8% | 34% | 3.3% | -6.2% | -26.2% | -8.7% |
| Return on equity % | — | 24% | -25.1% | 76,300% | 84.9% | 323% | 87.4% | -30.1% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.
| Holder (%) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 69.99% | 69.99% | 69.99% | 71.42% | 71.29% | 71.29% | 71.29% | 71.29% | 71.24% | 70.16% | 69.63% | 65.56% | |
| FII | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DII | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 30.01% | 30.01% | 30.01% | 28.58% | 28.71% | 28.71% | 28.71% | 28.71% | 28.76% | 29.84% | 30.37% | 34.44% | |
| No. of shareholders | — | — | — | — | — | — | — | — | 4,982 | 4,984 | 5,031 | 5,132 |
Promoter holding down 4.43 percentage points since Sep 2023.
| Date | Client | Type | Venue | Side | Quantity | Price | Value |
|---|---|---|---|---|---|---|---|
| 30 Jun 2026 | RAJESH KUMAR SARAF | Bulk | BSE | Sell | 54,583 | ₹50.69 | ₹0.28 Cr |
| 30 Jun 2026 | HITESH RAMJI JAVERI | Bulk | BSE | Buy | 32,000 | ₹50.99 | ₹0.16 Cr |
| 29 Jun 2026 | HITESH RAMJI JAVERI | Bulk | BSE | Buy | 1,20,838 | ₹52.02 | ₹0.63 Cr |
| 29 Jun 2026 | RAJESH KUMAR SARAF | Bulk | BSE | Sell | 95,095 | ₹50.11 | ₹0.48 Cr |
| 25 Jun 2026 | RAJESH KUMAR SARAF | Bulk | BSE | Sell | 26,677 | ₹48.71 | ₹0.13 Cr |
Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.
Current officeholders as filed with BSE. A person holding two offices is listed once per office.
No scheme among the 32 fund houses on record reported a position in National Oxygen Ltd. Portfolios are published monthly by each AMC; coverage is still partial.
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
| Date | Category | Subject | Filing |
|---|---|---|---|
| 13 Apr 2026, 3:31 pm | Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 | Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 |
| ₹ Cr | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 33 | 36 | 42 | 46 | 44 | 40 | 51 | 47 | 45 | 41 | 23 | |
| COGS | — | — | -1 | -1 | -1 | 2 | 1 | 0 | 0 | 0 | 0 |
| Gross profit | — | — | — | — | — | 38 | 50 | — | — | — | — |
| 32 | 31 | 38 | 38 | 38 | 32 | 38 | 43 | 44 | 43 | — | |
| Operating profit (EBITDA) | 1 | 5 | 6 | 9 | 6 | 6 | 11 | 4 | 1 | -2 | — |
| OPM % | 2.7% | 13.6% | 13.5% | 18.6% | 14.6% | 15.7% | 22.6% | 7.8% | 2.7% | -6.1% | — |
| Depreciation | — | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 2 |
| Interest | 6 | 6 | 6 | 5 | 5 | 4 | 2 | 2 | 2 | 2 | 1 |
| — | — | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 1 | |
| Profit before tax | -7 | -5 | -2 | 4 | -2 | -1 | 8 | -1 | -3 | -7 | 2 |
| Tax | -1 | — | — | — | — | 0 | 0 | 0 | 0 | 0 | — |
| Tax % | -17.4% | — | — | — | — | 0% | 0% | 0% | 0% | 0% | — |
| -6 | -5 | -2 | 4 | -2 | -1 | 8 | -1 | -3 | -7 | 2 | |
| PAT margin % | -17.1% | -14% | -4.4% | 7.7% | -3.6% | -2.8% | 15.1% | -1.7% | -7.1% | -17.3% | 8% |
| EPS (₹) | — | -10.5 | -3.9 | 7.4 | -3.3 | -2.3 | 15.9 | -1.7 | -6.6 | -13.9 | 3.6 |
| EPS adjusted (₹) | — | — | — | — | -3.3 | -2.3 | 15.9 | -1.7 | -6.4 | -13.9 | 3.7 |
| Annual report | Annual report for Mar 2016 | Annual report for Mar 2017 | Annual report for Mar 2018 | Annual report for Mar 2019 | Annual report for Mar 2020 | Annual report for Mar 2021 | Annual report for Mar 2022 | Annual report for Mar 2023 | Annual report for Mar 2024 | Annual report for Mar 2025 | Annual report for Mar 2026 |
| ₹ Cr | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Equity capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves | -11 | -0 | -5 | -6 | -6 | -13 | -11 |
| Minority interest | — | — | 0 | — | — | — | — |
| 39 | 23 | 30 | 27 | 23 | 24 | 29 | |
| 6 | 9 | 9 | 9 | 13 | 15 | 6 | |
| Total equity & liabilities | 38 | 36 | 40 | 35 | 34 | 31 | 28 |
| 29 | 26 | 24 | 22 | 22 | 20 | 18 | |
| CWIP | 0 | 0 | 0 | 0 | 1 | 0 | 3 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 9 | 9 | 15 | 13 | 11 | 11 | 6 | |
| Total assets | 38 | 36 | 40 | 35 | 34 | 31 | 28 |
| ₹ Cr | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| 7 | 12 | 2 | 1 | -0 | -1 | |
| -1 | 0 | -1 | -4 | -0 | 5 | |
| -6 | -7 | -6 | 1 | 0 | -3 | |
| Net cash flow | -0 | 5 | -4 | -2 | 0 | -0 |
| Free cash flow | 6 | 11 | 1 | -3 | -0 | -6 |
| CFO / Operating profit % | 104.3% | 101.4% | 60.6% | 78.2% | — | — |