Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 11.81 | 11.30 | 11.02 | 10.57 | 10.61 | 10.78 | 8.62 | 7.58 | 6.37 | 5.04 | 3.97 | 3.05 |
| Expenses | 11.31 | 11.32 | 10.79 | 10.57 | 10.55 | 11.54 | 10.40 | 8.61 | 6.82 | 5.77 | 5.07 | 4.29 |
| Operating Profit | 0.50 | -0.02 | 0.23 | 0.00 | 0.06 | -0.76 | -1.78 | -1.03 | -0.45 | -0.73 | -1.10 | -1.24 |
| OPM % | 4.23% | -0.18% | 2.09% | 0.00% | 0.57% | -7.05% | -20.65% | -13.59% | -7.06% | -14.48% | -27.71% | -40.66% |
| Other Income | 0.12 | 0.06 | 0.26 | 0.06 | 0.08 | 0.07 | 0.07 | 0.05 | 8.37 | 0.11 | 0.35 | 0.24 |
| Interest | 0.41 | 0.42 | 0.46 | 0.43 | 0.46 | 0.42 | 0.28 | 0.28 | 0.30 | 0.36 | 0.48 | 0.46 |
| Depreciation | 0.82 | 0.83 | 0.87 | 0.87 | 0.87 | 0.87 | 0.61 | 0.61 | 0.58 | 0.57 | 0.56 | 0.55 |
| Profit before tax | -0.61 | -1.21 | -0.84 | -1.24 | -1.19 | -1.98 | -2.60 | -1.87 | 7.04 | -1.55 | -1.79 | -2.01 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Profit | -0.60 | -1.21 | -0.84 | -1.25 | -1.19 | -1.98 | -2.59 | -1.87 | 7.04 | -1.55 | -1.78 | -2.01 |
| EPS in Rs | -1.25 | -2.52 | -1.67 | -2.48 | -2.36 | -3.93 | -5.14 | -3.71 | 13.96 | -3.07 | -3.53 | -3.99 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 33.17 | 36.09 | 41.36 | 46.21 | 43.93 | 39.76 | 50.61 | 47.11 | 45.26 | 40.58 | 22.96 | 18.43 |
| Expenses | 30.36 | 31.49 | 35.74 | 37.63 | 37.54 | 33.49 | 39.18 | 43.43 | 44.02 | 43.05 | 26.28 | 21.95 |
| Operating Profit | 2.81 | 4.60 | 5.62 | 8.58 | 6.39 | 6.27 | 11.43 | 3.68 | 1.24 | -2.47 | -3.32 | -3.52 |
| OPM % | 8.47% | 12.75% | 13.59% | 18.57% | 14.55% | 15.77% | 22.58% | 7.81% | 2.74% | -6.09% | -14.46% | -19.10% |
| Other Income | 0.35 | 0.33 | 2.19 | 3.42 | 0.27 | 0.40 | 1.44 | 0.59 | 0.50 | 0.28 | 8.88 | 9.07 |
| Interest | 6.10 | 6.46 | 5.90 | 4.90 | 4.80 | 4.48 | 2.15 | 1.79 | 1.64 | 1.59 | 1.41 | 1.60 |
| Depreciation | 3.94 | 3.91 | 3.79 | 3.53 | 3.41 | 3.28 | 3.09 | 3.27 | 3.33 | 3.22 | 2.31 | 2.26 |
| Profit before tax | -6.88 | -5.44 | -1.88 | 3.57 | -1.55 | -1.09 | 7.63 | -0.79 | -3.23 | -7.00 | 1.84 | 1.69 |
| Tax % | -17.30% | -0.55% | -0.53% | 0.00% | 0.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| Net Profit | -5.68 | -5.41 | -1.87 | 3.56 | -1.57 | -1.10 | 7.63 | -0.79 | -3.23 | -7.00 | 1.84 | 1.70 |
| EPS in Rs | -11.83 | -11.27 | -3.89 | 7.41 | -3.27 | -2.29 | 15.89 | -1.65 | -6.41 | -13.88 | 3.65 | 3.37 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | -4% | -10% | -21% | -51% | ||
| Compounded Profit Growth | -1% | % | % | 16% | ||
| Stock Price CAGR | 4% | -5% | -23% | -53% | ||
| Return on Equity | % | % | % | % |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4.80 | 4.80 | 4.80 | 4.80 | 4.80 | 4.80 | 4.80 | 4.80 | 4.80 | 5.04 | 5.04 | 5.04 |
| Reserves | 1.34 | -4.35 | -11.45 | -13.31 | -9.74 | -11.34 | -12.41 | -4.79 | -5.73 | -6.04 | -13.05 | -11.15 |
| Borrowings | 43.33 | 48.40 | 49.01 | 44.06 | 38.09 | 38.60 | 37.21 | 32.82 | 29.06 | 28.65 | 30.69 | 28.64 |
| Other Liabilities | 7.88 | 7.00 | 6.74 | 6.37 | 6.04 | 6.16 | 6.39 | 6.97 | 6.78 | 6.45 | 8.41 | 5.73 |
| Total Liabilities | 57.35 | 55.85 | 49.10 | 41.92 | 39.19 | 38.22 | 35.99 | 39.80 | 34.91 | 34.10 | 31.09 | 28.26 |
| Fixed Assets | 48.77 | 44.88 | 39.81 | 35.24 | 31.91 | 29.01 | 26.48 | 24.27 | 22.07 | 21.98 | 19.58 | 18.45 |
| CWIP | 0.00 | 0.00 | 0.03 | 0.03 | 0.03 | 0.03 | 0.06 | 0.00 | 0.14 | 0.81 | 0.18 | 3.30 |
| Investments | 0.56 | 0.16 | 0.01 | 0.11 | 0.17 | 0.19 | 0.21 | 0.10 | 0.05 | 0.08 | 0.33 | 0.16 |
| Other Assets | 8.02 | 10.81 | 9.25 | 6.54 | 7.08 | 8.99 | 9.24 | 15.43 | 12.65 | 11.23 | 11.00 | 6.35 |
| Total Assets | 57.35 | 55.85 | 49.10 | 41.92 | 39.19 | 38.22 | 35.99 | 39.80 | 34.91 | 34.10 | 31.09 | 28.26 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 1.30 | 1.49 | 4.87 | 8.45 | 7.85 | 4.83 | 6.53 | 11.59 | 2.23 | 0.97 | -0.18 | -1.09 |
| Cash from Investing Activity | -1.67 | -0.45 | 0.71 | 2.68 | 3.12 | -0.39 | -0.70 | 0.40 | -0.62 | -3.69 | -0.21 | 4.55 |
| Cash from Financing Activity | 0.39 | -1.03 | -5.85 | -10.86 | -10.86 | -4.30 | -5.87 | -6.54 | -5.93 | 1.07 | 0.45 | -3.47 |
| Net Cash Flow | 0.02 | 0.01 | -0.27 | 0.28 | 0.11 | 0.14 | -0.04 | 5.46 | -4.32 | -1.66 | 0.07 | -0.01 |
| Free Cash Flow | 0.05 | 1.48 | 4.88 | 11.14 | 10.94 | 4.35 | 5.74 | 11.87 | 1.38 | -2.89 | -0.37 | 3.11 |
| CFO/OP | -92% | 54% | 106% | 150% | 92% | 76% | 104% | 102% | 62% | 83% | 6% | 31% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 46.71 | 66.46 | 45.41 | 32.92 | 33.33 | 40.71 | 45.90 | 36.35 | 41.37 | 42.74 | 29.32 | 28.30 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 46.71 | 66.46 | 45.41 | 32.92 | 33.33 | 40.71 | 45.90 | 36.35 | 41.37 | 42.74 | 29.32 | 28.30 |
| Working Capital Days | -159.34 | -98.38 | -99.21 | -82.34 | -50.24 | -27.83 | -29.38 | 2.45 | 11.47 | -17.02 | -45.33 | -99.20 |
| ROCE % | -10.43% | -1.67% | 2.15% | 5.44% | 15.05% | 9.85% | 10.90% | 27.81% | 3.28% | -5.88% | -21.50% | -21.54% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 69.99% | 69.99% | 69.99% | 71.42% | 71.29% | 71.29% | 71.29% | 71.29% | 71.24% | 70.16% | 69.63% | 65.55% |
| Public | 30.01% | 30.01% | 30.01% | 28.59% | 28.72% | 28.72% | 28.71% | 28.72% | 28.77% | 29.84% | 30.37% | 34.45% |
| No. of Shareholders | 4,876 | 5,049 | 5,155 | 5,196 | 5,081 | 5,100 | 5,123 | 5,081 | 4,982 | 4,984 | 5,031 | 5,132 |
Fundamentals
Market Cap₹ 26.5 Cr.
Current Price₹ 52.6
Book Value₹ -12.1
ROCE-21.5 %
ROE%
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-51%
Compounded Profit Growth (TTM)16%
Standalone figures.
Valuation
Market capRs 28 Cr
Enterprise valueRs 56 Cr
P/E (TTM)16.31x
Price to book-4.54x
Price to sales1.50x
EV / EBITDA10.06x
EV / EBIT16.97x
EV / sales3.03x
Earnings yield6.13%
P/E, 3-year average15.63x
P/B, 3-year average-22.35x
P/E, 5-year average10.49x
P/B, 5-year average794.53x
Profitability
Operating margin (excl. other income)-14.46%
Operating margin (incl. other income)24.22%
EBITDA margin30.11%
Pre-tax margin9.17%
Net profit margin9.22%
Net margin, latest quarter-65.90%
ROE-26.06%
ROCE14.38%
ROA6.20%
ROE, 3-year average154.68%
ROCE, 3-year average-4.27%
ROA, 3-year average-8.21%
ROE, 5-year average87.00%
ROCE, 5-year average4.36%
ROA, 5-year average-1.32%
ROIC (approx.)14.97%
Other income / net worth-145.34%
Growth
Sales growth (latest year)-43.42%
Sales CAGR, 3 years-21.30%
Sales CAGR, 5 years-10.40%
Sales growth QoQ-23.17%
Sales growth YoY (latest quarter)-59.76%
Per share
EPS (TTM)Rs 3.37
EPS (latest year)Rs 3.65
EPS (latest quarter)Rs -3.99
EPS, 3-year averageRs -5.55
EPS, 5-year averageRs -0.48
Book value per shareRs -12.12
Sales per shareRs 36.55
Cash flow per shareRs -2.16
Free cash flow per shareRs 6.17
Efficiency
Asset turnover0.81x
Fixed asset turnover1.24x
Inventory turnover27.89x
Inventory days13 days
Debtor days28 days
Debtors turnover12.90x
Cash conversion cycle28 days
Working capital days-99 days
Leverage
Total debtRs 29 Cr
Cash and bankRs 1 Cr
Net debtRs 28 Cr
Debt to equity-4.69x
Net debt / EBITDA5.06x
Interest coverage2.06x
Owners' fund to total sources-21.62%
Debt to assets101.34%
Cash flow
Cash from Operating Activity (latest year)Rs -1 Cr
Cash from Investing Activity (latest year)Rs 5 Cr
Cash from Financing Activity (latest year)Rs -3 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs 3 Cr
FCFE (approx.: FCF + change in debt)Rs 1 Cr
Statement figures
Net sales (TTM)Rs 18 Cr
Net sales (latest year)Rs 23 Cr
Sales (latest quarter)Rs 3 Cr
Operating profit excl. other income (latest year)Rs -3 Cr
Operating profit (latest quarter)Rs -1 Cr
Other income (TTM)Rs 9 Cr
EBITDA (TTM)Rs 6 Cr
PBDT (TTM)Rs 4 Cr
Profit before tax (TTM)Rs 2 Cr
Net profit (TTM)Rs 2 Cr
Net profit (latest year)Rs 2 Cr
Net profit (latest quarter)Rs -2 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 18 Cr
Total expenditure (latest year)Rs 26 Cr
Total income (latest year)Rs 32 Cr
Share capitalRs 5 Cr
ReservesRs -11 Cr
Shareholders' fundsRs -6 Cr
Total assetsRs 28 Cr
Net blockRs 18 Cr
Capital work in progressRs 3 Cr
InvestmentsRs 0 Cr
ReceivablesRs 2 Cr
InventoryRs 1 Cr
Other liabilitiesRs 6 Cr
Shares outstanding (crore)0.50
Ownership
Promoter holding65.55% (-5.74 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 16.3 is at the 75th percentile of its own 3.0-year range
(median 8.0, low 3.4, high 92.1).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 507813 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -1.8% | -2.8% | +1.0 pts |
| 1 month | -4.8% | -6.8% | +1.9 pts |
| 3 months | +12.1% | -7.6% | +19.7 pts |
| 3 years | -52.2% | +14.2% | -66.3 pts |
| 5 years | -20.8% | +27.9% | -48.7 pts |
Red flags
F-score 3 of 8| serious | Negative equity Shareholders' equity is negative |
| explain | High accruals Profit exceeded operating cash by 10% of total assets in 2026 |
| look | Profit leans on other income Other income was 483% of pre-tax profit in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹3 Cr -59.8% vs Jun 2025.
Net loss ₹2 Cr.
Activity
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|---|---|---|---|
| Linde India Ltd | 52,869 | 96.3 | 18.2 % |
| Ellenbarrie Industrial Gases Ltd | 5,205 | 43.2 | 14.5 % |
| Steamhouse India Ltd | 3,058 | 79.2 | 16.0 % |
| Stallion India Fluorochemicals Ltd | 2,548 | 49.0 | 11.8 % |
| Hilltone Software & Gases Ltd | 51 | 0.79 % | |
| Bhagawati Gas Ltd | 15 | 15.0 | 6.10 % |
| Gagan Gases Ltd | 9 | 37.0 | 5.57 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of National Oxygen Ltd?
National Oxygen Ltd (507813) has a market capitalisation of Rs 26.5 Cr. at the 2026-10-01 close.
What were National Oxygen Ltd's latest quarterly results?
In the Jun 2026 quarter, National Oxygen Ltd sales was Rs 3 Cr (-59.8% vs Jun 2025) with a net loss of Rs 2 Cr.