Hilltone Software and Gases Limited produces and markets industrial and medical gases in India. It offers oxygen, nitrogen, LPG, argon, carbon dioxide, acetylene, hydrogen, helium, and other gases; mixed gases; and liquid oxygen, carbon dioxide, and nitrogen gases. The company also engages in the construction, production, and distribution of solar energy; and provides design and engineering, construction and project management, consulting and planning, project financing, and operation and maintenance services for the energy sector. In addition, it is involved in the software integration, consulting, and licensing activities. The company was incorporated in 1993 and is based in Mehsana, India.
Rs. Crores Β· 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 1.58
2.31
6.64
3.45
2.34
2.02
1.40
2.09
2.02
2.25
1.52
1.69
1.53
Expenses 2.65
2.56
5.45
3.97
2.60
2.23
1.50
2.04
1.97
2.29
1.35
1.51
1.43
Operating Profit -1.07
-0.25
1.19
-0.52
-0.26
-0.21
-0.10
0.05
0.05
-0.04
0.17
0.18
0.10
OPM % -67.72
-10.82
17.92
-15.07
-11.11
-10.40
-7.14
2.39
2.48
-1.78
11.18
10.65
6.54
Other Income 0.17
0.17
0.11
0.11
0.15
0.17
0.26
0.16
0.13
0.31
0.00
0.04
0.00
Depreciation 0.22
0.21
0.18
0.16
0.15
0.04
0.04
0.04
0.04
0.04
0.04
0.03
0.03
Interest 0.02
0.19
0.02
0.04
0.07
0.04
0.02
0.02
0.03
0.03
0.01
0.03
0.03
Profit before tax -1.14
-0.48
1.10
-0.61
-0.33
-0.12
0.10
0.15
0.11
0.20
0.12
0.16
0.04
Tax % -31.58
-43.75
10.00
0.00
-45.45
283.33
10.00
20.00
9.09
20.00
-75.00
43.75
0.00
Net Profit -0.78
-0.27
0.99
-0.61
-0.18
-0.47
0.10
0.11
0.10
0.16
0.21
0.09
0.04
EPS in Rs -0.59
-0.20
0.75
-0.56
-0.16
-0.43
0.09
0.10
β
β
β
β
β
Annual Β· Rs. Crores
Metric
Mar 2026 Mar 2025 Mar 2024 Mar 2023 Mar 2022 Mar 2021 Mar 2020 Mar 2019 Mar 2018
Sales
14.73 7.52 6.85 5.55 6.50 5.77 4.08 3.87 3.31
Expenses
14.40 7.72 6.42 4.61 6.24 5.57 4.00 3.84 3.34
Operating Profit
0.33 -0.20 0.43 0.94 0.26 0.20 0.08 0.03 -0.03
OPM %
2.24 -2.66 6.28 16.94 4.00 3.47 1.96 0.78 -0.91
Other Income
0.54 0.71 0.48 0.13 0.13 0.16 0.11 0.11 0.26
Interest
0.25 0.11 0.15 0.11 0.12 0.15 0.07 0.05 0.03
Depreciation
0.70 0.16 0.14 0.09 0.11 0.08 0.08 0.02 0.04
Profit before tax
-0.08 0.24 0.62 0.87 0.16 0.13 0.04 0.07 0.16
Tax %
-300.00 162.50 19.35 16.09 0.00 -7.69 -25.00 0.00 0.00
Net Profit
0.15 -0.16 0.51 0.73 0.17 0.12 0.05 0.07 0.16
EPS in Rs
0.11 -0.15 β β β β β β β
Dividend Payout %
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Annual Β· Rs. Crores β latest first
Metric
Mar 2026 Mar 2025 Mar 2024 Mar 2023 Mar 2022 Mar 2021 Mar 2020 Mar 2019 Mar 2018
Equity Capital
13.18 10.93 10.93 4.00 4.00 4.00 4.00 4.00 4.00
Reserves
10.12 2.73 2.89 1.21 0.48 0.31 0.19 0.14 0.07
Borrowings
1.89 1.68 0.80 0.82 0.96 0.97 1.04 0.52 0.28
Other Liabilities
1.66 2.16 1.22 1.22 0.82 1.02 0.82 0.79 0.52
Total Liabilities
26.85 17.50 15.84 7.25 6.26 6.30 6.05 5.45 4.87
Fixed Assets
9.89 5.49 3.99 2.84 2.83 2.70 2.66 2.44 2.20
CWIP
0.61 1.42 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments
0.00 0.00 0.02 0.02 0.02 0.02 0.02 0.01 0.01
Other Assets
16.35 10.59 11.83 4.39 3.41 3.58 3.37 3.00 2.66
Total Assets
26.85 17.50 15.84 7.25 6.26 6.30 6.05 5.45 4.87
Annual Β· Rs. Crores β latest first
Metric
Mar 2026 Mar 2025 Mar 2024 Mar 2023 Mar 2022 Mar 2021 Mar 2020 Mar 2019
Cash from Operating Activity
-4.26 0.76 -7.18 0.58 0.21 0.26 -0.36 0.19
Cash from Investing Activity
-3.00 0.58 -0.82 0.02 -0.12 -0.01 -0.17 -0.13
Cash from Financing Activity
9.29 -0.23 8.10 -0.27 -0.14 -0.18 0.41 -0.05
Net Cash Flow
2.04 1.11 0.10 0.32 -0.04 0.07 -0.12 0.02
Free Cash Flow
-8.55 -1.04 -8.47 0.49 -0.02 0.13 -0.66 -0.06
CFO/OP %
-1,288.00 -465.00 -1,609.00 62.00 100.00 135.00 -450.00 633.00
Annual Β· Days / % β latest first
Metric
Mar 2026 Mar 2025 Mar 2024 Mar 2023 Mar 2022 Mar 2021 Mar 2020 Mar 2019 Mar 2018
Debtor Days
62.94 53.39 80.99 106.54 69.63 75.91 89.46 90.54 83.81
Inventory Days
93.04 39.66 34.01 33.37 8.88 33.33 68.44 52.72 56.39
Days Payable
22.22 64.53 65.53 72.80 39.57 56.90 78.58 83.81 53.26
Cash Conversion Cycle
133.75 28.52 49.47 67.11 38.94 52.34 79.32 59.45 86.94
Working Capital Days
106.80 30.09 46.89 46.04 27.52 34.16 60.83 25.47 56.24
ROCE %
0.84 2.34 7.46 17.09 5.22 5.52 2.22 2.66 β
% holding β latest first
Quarterly
Yearly
Holder
Jun 2026
Mar 2026
Dec 2025
Sep 2025
Jun 2025
Mar 2025
Dec 2024
Promoters
10.67
10.66
10.65
12.84
12.84
12.84
12.84
FIIs
4.38
4.18
3.77
0.10
0.15
0.00
0.00
Public
84.94
85.16
85.57
87.06
87.02
87.16
87.16
No. of Shareholders
2,022
1,910
1,713
1,818
1,531
1,489
1,183