Bhagwati Oxygen Ltd. · CashKonnect

About

Bhagawati Oxygen Limited manufactures and supplies industrial gases in India. It operates through Gases and Power segments. The company offers oxygen, nitrogen, argon, carbon dioxide, dissolved acetylene, hydrogen, helium, and compressed air for use in industrial applications, such as smelting, steelmaking, semiconductor, fertilizer, oil refineries, etc.; and electronic grade and commercial grade gases, gas mixtures, and calibration gases. It also builds and operates various on-site gas production plants for the production of oxygen, nitrogen, argon, etc.; and designs and sells gas handling and distribution systems. In addition, the company offers turnkey contracting solutions, including design, engineering, and construction of air separation plants, cross-country gas pipeline systems, cryogenic liquid storage and gas handling systems, etc. Further, the company generates and supplies wind power. The company was incorporated in 1972 and is based in Ballabhgarh, India.

Key Metrics

as of Sep 2026

Market Cap9 Cr

P/E2.94

Div Yield0.00 %

Book Value₹31.30

52w High₹50.00

52w Low₹31.50

Face Value₹10.00

Quarterly Results

Rs. Crores · hover row for definition

Metric	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023
Sales	0.13	0.01	0.05	0.29	0.15	0.01	0.26	0.31	0.24	0.16	0.03	0.23	0.31
Expenses	0.55	0.46	0.40	0.45	0.43	0.38	0.58	0.58	0.50	2.01	0.59	2.22	0.79
Operating Profit	-0.42	-0.45	-0.35	-0.16	-0.28	-0.37	-0.32	-0.27	-0.26	-1.85	-0.56	-1.99	-0.48
OPM %	-323.08	-4,500.00	-700.00	-55.17	-186.67	-3,700.00	-123.08	-87.10	-108.33	-1,156.25	-1,866.67	-865.22	-154.84
Other Income	0.08	3.81	0.30	0.30	0.28	0.48	0.16	0.12	0.11	-0.09	0.04	6.43	0.00
Depreciation	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.11	0.41
Interest	0.02	0.01	0.01	0.01	0.02	0.03	0.03	0.03	0.03	0.02	0.07	0.15	0.16
Profit before tax	-0.38	3.34	-0.07	0.12	-0.03	0.07	-0.20	-0.19	-0.19	-1.97	-0.61	4.18	-1.05
Tax %	-13.16	2.10	14.29	8.33	33.33	-100.00	5.00	5.26	0.00	-13.71	-13.11	13.40	-4.76
Net Profit	-0.33	3.26	-0.08	0.11	-0.03	0.14	-0.21	-0.19	-0.20	-1.71	-0.52	3.63	-0.99
EPS in Rs	-1.43	14.09	-0.35	0.48	-0.13	0.61	-0.91	-0.82	-0.86	-7.39	-2.25	15.69	-4.28

Profit & Loss

Annual · Rs. Crores

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Sales	0.49	0.81	0.72	0.68	1.07	0.40	3.00	7.65	8.46	10.01	10.22	11.70
Expenses	1.73	2.02	5.52	1.92	2.17	1.71	3.63	6.59	6.52	8.62	9.54	10.84
Operating Profit	-1.24	-1.21	-4.80	-1.24	-1.10	-1.31	-0.63	1.06	1.94	1.39	0.68	0.86
OPM %	-253.06	-149.38	-666.67	-182.35	-102.80	-327.50	-21.00	13.86	22.93	13.89	6.65	7.35
Other Income	4.68	0.87	6.39	1.02	0.60	0.47	2.93	0.64	1.24	0.75	0.48	0.72
Interest	0.05	0.13	0.50	0.73	0.71	0.57	0.61	0.84	0.76	0.21	0.03	0.04
Depreciation	0.04	0.04	0.54	1.66	1.79	1.84	1.85	1.86	1.86	0.42	0.23	0.23
Profit before tax	3.35	-0.51	0.55	-2.61	-3.00	-3.25	-0.16	-1.00	0.56	1.51	0.90	1.31
Tax %	2.39	-11.76	25.45	-7.28	-6.00	-4.62	-62.50	-4.00	26.79	32.45	24.44	22.90
Net Profit	3.27	-0.45	0.41	-2.42	-2.82	-3.10	-0.06	-0.96	0.41	1.02	0.67	1.02
EPS in Rs	14.14	-1.95	1.77	-10.46	-12.19	-13.40	-0.26	-4.15	1.77	4.41	2.90	4.41
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Balance Sheet

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Equity Capital	2.31	2.31	2.31	2.31	2.31	2.31	2.31	2.31	2.31	2.31	2.31	2.31
Reserves	4.94	1.66	2.19	1.87	4.34	6.90	10.13	9.78	10.79	10.40	9.45	8.78
Borrowings	1.06	1.59	1.32	6.41	7.50	6.77	5.93	8.91	12.62	13.46	0.75	0.33
Other Liabilities	2.08	5.57	5.52	2.89	1.57	1.77	1.53	1.61	1.97	3.59	2.71	3.27
Total Liabilities	10.39	11.13	11.34	13.48	15.72	17.75	19.90	22.61	27.69	29.76	15.22	14.69
Fixed Assets	1.52	1.40	1.45	5.26	7.05	8.84	10.68	12.53	14.39	16.24	2.13	2.12
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.35	0.00
Investments	1.70	1.07	0.81	0.73	1.97	2.16	1.93	1.99	2.01	2.38	2.23	2.44
Other Assets	7.17	8.66	9.08	7.49	6.70	6.75	7.29	8.09	11.29	11.14	10.51	10.13
Total Assets	10.39	11.13	11.34	13.48	15.72	17.75	19.90	22.61	27.69	29.76	15.22	14.69

Cash Flows

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Cash from Operating Activity	0.36	-0.56	-4.22	0.31	-0.42	-0.72	3.19	4.13	0.67	1.39	-0.18	-0.30
Cash from Investing Activity	0.24	0.39	9.15	2.25	0.60	0.07	0.35	0.42	0.86	-13.97	0.09	0.41
Cash from Financing Activity	-0.59	0.16	-5.55	-1.94	-0.17	0.65	-3.60	-4.54	-1.53	12.62	0.15	0.15
Net Cash Flow	0.01	-0.01	-0.62	0.61	0.01	0.00	-0.06	0.02	-0.01	0.04	0.06	0.26
Free Cash Flow	0.18	-0.56	4.82	1.16	-0.43	-0.72	3.19	4.13	0.66	-12.79	-0.76	-0.32
CFO/OP %	-29.00	46.00	88.00	-25.00	67.00	55.00	-506.00	390.00	58.00	102.00	24.00	-2.00

Ratios

Annual · Days / % — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Debtor Days	81.94	1,230.19	1,480.28	1,685.44	975.61	2,253.88	369.87	61.07	83.70	127.26	101.43	111.37
Inventory Days	—	19.21	23.55	29.20	15.21	365.00	108.15	43.91	52.98	11.34	24.29	60.11
Days Payable	—	739.61	918.39	832.20	441.04	3,650.00	446.11	85.08	329.68	133.24	97.18	100.51
Cash Conversion Cycle	81.94	509.79	585.44	882.44	549.77	-1,031.12	31.90	19.91	-192.99	5.35	28.55	70.98
Working Capital Days	-1,318.47	157.72	694.51	-724.63	310.42	1,377.88	180.07	-62.98	-338.25	-213.31	101.79	70.50
ROCE %	48.88	-6.68	-57.53	-21.50	-15.53	-15.60	2.24	-0.73	4.74	8.22	7.27	12.56

Shareholding Pattern

% holding — latest first

Holder	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023
Promoters	43.30	43.30	43.30	43.30	43.30	43.30	43.30	43.30	43.30	43.30	43.30	43.30
DIIs	12.99	12.99	12.99	12.99	12.99	12.99	12.99	12.99	12.99	12.99	12.99	12.99
Public	43.71	43.70	43.71	43.72	43.72	43.72	43.72	43.72	43.71	43.72	43.72	43.72
No. of Shareholders	7,243	7,284	7,271	7,258	7,215	7,077	6,954	6,936	6,810	6,715	6,721	6,615