Gagan Gases Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: February 17, 2026, 4:51 pm

Market Cap	9.65 Cr.
Current Price	21.4
Intrinsic Value	₹50.47
High / Low	35.8/17.6
Stock P/E	87.8
Book Value	7.17
Dividend Yield	0.00 %
ROCE	10.6 %
ROE	8.49 %
Face Value	10.0
PEG Ratio	5.58

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Gagan Gases Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Gagan Gases Ltd	9.65 Cr.	21.4	35.8/17.6	87.8	7.17	0.00 %	10.6 %	8.49 %	10.0
Bhagawati Oxygen Ltd	10.8 Cr.	47.0	67.0/35.6	77.5	17.5	0.00 %	6.68 %	10.6 %	10.0
Refex Industries Ltd	3,246 Cr.	236	534/210	15.4	97.5	0.21 %	25.3 %	22.0 %	2.00
Linde India Ltd	58,212 Cr.	6,827	7,870/5,202	99.8	463	0.07 %	16.9 %	12.3 %	10.0
Industry Average	30,729.00 Cr	1,782.85		70.13	146.29	0.07%	14.87%	13.35%	8.00

All Competitor Stocks of Gagan Gases Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	0.37	0.34	0.34	0.55	0.60	0.64	1.34	1.43	1.86	1.05	0.86	1.65	1.71
Expenses	0.37	0.32	0.39	0.50	0.52	0.56	1.34	1.33	1.74	0.93	0.91	1.64	1.61
Operating Profit	0.00	0.02	-0.05	0.05	0.08	0.08	0.00	0.10	0.12	0.12	-0.05	0.01	0.10
OPM %	0.00%	5.88%	-14.71%	9.09%	13.33%	12.50%	0.00%	6.99%	6.45%	11.43%	-5.81%	0.61%	5.85%
Other Income	2.31	0.05	0.00	0.00	0.00	0.03	0.00	0.00	0.00	0.11	0.00	0.00	0.00
Interest	0.00	0.04	0.00	0.00	0.00	0.04	0.00	0.00	0.00	0.03	0.00	0.00	0.00
Depreciation	0.02	0.01	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Profit before tax	2.29	0.02	-0.07	0.03	0.06	0.05	-0.02	0.08	0.10	0.18	-0.07	-0.01	0.08
Tax %	22.27%	200.00%	0.00%	0.00%	0.00%	60.00%	0.00%	0.00%	10.00%	38.89%	0.00%	0.00%	0.00%
Net Profit	1.79	-0.02	-0.06	0.04	0.07	0.02	-0.01	0.08	0.09	0.11	-0.07	-0.01	0.08
EPS in Rs	3.96	-0.04	-0.13	0.09	0.15	0.04	-0.02	0.18	0.20	0.24	-0.15	-0.02	0.18

Last Updated: February 1, 2026, 10:16 pm

Below is a detailed analysis of the quarterly data for Gagan Gases Ltd based on the most recent figures (Dec 2025) and their trends compared to the previous period:

For Sales, as of Dec 2025, the value is 1.71 Cr.. The value appears strong and on an upward trend. It has increased from 1.65 Cr. (Sep 2025) to 1.71 Cr., marking an increase of 0.06 Cr..
For Expenses, as of Dec 2025, the value is 1.61 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 1.64 Cr. (Sep 2025) to 1.61 Cr., marking a decrease of 0.03 Cr..
For Operating Profit, as of Dec 2025, the value is 0.10 Cr.. The value appears strong and on an upward trend. It has increased from 0.01 Cr. (Sep 2025) to 0.10 Cr., marking an increase of 0.09 Cr..
For OPM %, as of Dec 2025, the value is 5.85%. The value appears strong and on an upward trend. It has increased from 0.61% (Sep 2025) to 5.85%, marking an increase of 5.24%.
For Other Income, as of Dec 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2025) which recorded 0.00 Cr..
For Interest, as of Dec 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2025) which recorded 0.00 Cr..
For Depreciation, as of Dec 2025, the value is 0.02 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2025) which recorded 0.02 Cr..
For Profit before tax, as of Dec 2025, the value is 0.08 Cr.. The value appears strong and on an upward trend. It has increased from -0.01 Cr. (Sep 2025) to 0.08 Cr., marking an increase of 0.09 Cr..
For Tax %, as of Dec 2025, the value is 0.00%. The value remains steady. There is no change compared to the previous period (Sep 2025) which recorded 0.00%.
For Net Profit, as of Dec 2025, the value is 0.08 Cr.. The value appears strong and on an upward trend. It has increased from -0.01 Cr. (Sep 2025) to 0.08 Cr., marking an increase of 0.09 Cr..
For EPS in Rs, as of Dec 2025, the value is 0.18. The value appears strong and on an upward trend. It has increased from -0.02 (Sep 2025) to 0.18, marking an increase of 0.20.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 3:42 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	1.73	1.56	1.15	0.58	0.48	0.57	1.25	2.17	2.90	2.21	2.13	5.69	5.42
Expenses	1.86	1.48	1.01	0.39	0.44	0.38	1.15	1.89	2.52	2.00	1.96	5.35	5.22
Operating Profit	-0.13	0.08	0.14	0.19	0.04	0.19	0.10	0.28	0.38	0.21	0.17	0.34	0.20
OPM %	-7.51%	5.13%	12.17%	32.76%	8.33%	33.33%	8.00%	12.90%	13.10%	9.50%	7.98%	5.98%	3.69%
Other Income	0.02	0.09	0.08	0.01	0.01	0.02	0.02	0.02	0.01	2.36	0.03	0.11	0.11
Interest	0.22	0.03	0.01	0.01	0.00	0.00	0.01	0.07	0.05	0.05	0.04	0.03	0.03
Depreciation	0.13	0.07	0.07	0.06	0.06	0.05	0.06	0.07	0.07	0.07	0.07	0.07	0.08
Profit before tax	-0.46	0.07	0.14	0.13	-0.01	0.16	0.05	0.16	0.27	2.45	0.09	0.35	0.20
Tax %	-6.52%	-28.57%	14.29%	15.38%	-100.00%	12.50%	0.00%	81.25%	81.48%	24.08%	33.33%	25.71%
Net Profit	-0.44	0.09	0.12	0.11	0.00	0.14	0.05	0.03	0.06	1.87	0.06	0.27	0.12
EPS in Rs	-0.97	0.20	0.27	0.24	0.00	0.31	0.11	0.07	0.13	4.14	0.13	0.60	0.27
Dividend Payout %	0.00%	0.00%	0.00%	0.00%		0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	120.45%	33.33%	-8.33%	-100.00%	-64.29%	-40.00%	100.00%	3016.67%	-96.79%	350.00%
Change in YoY Net Profit Growth (%)	0.00%	-87.12%	-41.67%	-91.67%	35.71%	24.29%	140.00%	2916.67%	-3113.46%	446.79%

Gagan Gases Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	14%
5 Years:	35%
3 Years:	25%
TTM:	66%

Compounded Profit Growth
10 Years:	12%
5 Years:	40%
3 Years:	65%
TTM:	75%

Stock Price CAGR
10 Years:	14%
5 Years:	35%
3 Years:	31%
1 Year:	1%

Return on Equity
10 Years:	6%
5 Years:	5%
3 Years:	6%
Last Year:	8%

Last Updated: September 5, 2025, 3:31 pm

Balance Sheet

Last Updated: January 7, 2026, 5:29 pm

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	4.52	4.52	4.52	4.52	4.52	4.52	4.52	4.52	4.52	4.52	4.52	4.52	4.52
Reserves	-3.80	-3.71	-3.58	-3.47	-3.47	-3.33	-3.28	-3.46	-3.40	-1.53	-1.47	-1.21	-1.28
Borrowings	0.68	0.45	0.13	0.01	0.09	0.02	0.33	0.65	0.48	0.37	0.39	0.39	0.39
Other Liabilities	0.27	0.21	0.23	0.22	0.20	0.24	0.23	0.28	0.34	0.78	0.20	0.20	0.21
Total Liabilities	1.67	1.47	1.30	1.28	1.34	1.45	1.80	1.99	1.94	4.14	3.64	3.90	3.84
Fixed Assets	1.11	0.96	0.88	0.81	0.75	0.70	0.72	0.93	0.86	0.67	0.60	0.54	0.54
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.14	0.00	0.00	0.00	2.36	2.27	2.45	0.00
Other Assets	0.56	0.51	0.42	0.47	0.59	0.61	1.08	1.06	1.08	1.11	0.77	0.91	3.30
Total Assets	1.67	1.47	1.30	1.28	1.34	1.45	1.80	1.99	1.94	4.14	3.64	3.90	3.84

Below is a detailed analysis of the balance sheet data for Gagan Gases Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

For Equity Capital, as of Sep 2025, the value is 4.52 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 4.52 Cr..
For Reserves, as of Sep 2025, the value is -1.28 Cr.. The value appears to be worsening (becoming more negative). It has deteriorated from -1.21 Cr. (Mar 2025) to -1.28 Cr., marking a decline of 0.07 Cr..
For Borrowings, as of Sep 2025, the value is 0.39 Cr.. The value remains steady. However, Reserves are negative, which is a major warning sign. There is no change compared to the previous period (Mar 2025) which recorded 0.39 Cr..
For Other Liabilities, as of Sep 2025, the value is 0.21 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 0.20 Cr. (Mar 2025) to 0.21 Cr., marking an increase of 0.01 Cr..
For Total Liabilities, as of Sep 2025, the value is 3.84 Cr.. The value appears to be improving (decreasing). It has decreased from 3.90 Cr. (Mar 2025) to 3.84 Cr., marking a decrease of 0.06 Cr..
For Fixed Assets, as of Sep 2025, the value is 0.54 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 0.54 Cr..
For CWIP, as of Sep 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 0.00 Cr..
For Investments, as of Sep 2025, the value is 0.00 Cr.. The value appears to be declining and may need further review. It has decreased from 2.45 Cr. (Mar 2025) to 0.00 Cr., marking a decrease of 2.45 Cr..
For Other Assets, as of Sep 2025, the value is 3.30 Cr.. The value appears strong and on an upward trend. It has increased from 0.91 Cr. (Mar 2025) to 3.30 Cr., marking an increase of 2.39 Cr..
For Total Assets, as of Sep 2025, the value is 3.84 Cr.. The value appears to be declining and may need further review. It has decreased from 3.90 Cr. (Mar 2025) to 3.84 Cr., marking a decrease of 0.06 Cr..

However, the Borrowings (0.39 Cr.) are higher than the Reserves (-1.28 Cr.), which may signal higher financial risk.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	-0.24	0.29	0.23	0.16	0.03	0.16	-0.28	0.28	0.11	-0.03	0.09	0.26
Cash from Investing Activity +	0.00	0.00	0.02	0.00	0.00	-0.13	0.04	0.01	0.01	0.13	0.12	-0.07
Cash from Financing Activity +	0.29	-0.25	-0.31	-0.13	0.07	-0.06	0.29	-0.20	-0.23	-0.15	-0.02	-0.03
Net Cash Flow	0.05	0.04	-0.06	0.03	0.11	-0.03	0.05	0.09	-0.12	-0.05	0.20	0.16

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-0.81	-0.37	0.01	0.18	-0.05	0.17	-0.23	-0.37	-0.10	-0.16	-0.22	-0.05

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	48.53	44.46	50.78	100.69	121.67	121.67	140.16	85.78	47.83	36.33	35.99	17.96
Inventory Days	18.25	3.23	0.00	0.00			44.92	21.75	66.05	33.42	42.12	0.00
Days Payable	5.21	3.23					5.62	0.00	0.00	2.57	5.62
Cash Conversion Cycle	61.56	44.46	50.78	100.69	121.67	121.67	179.47	107.54	113.88	67.18	72.49	17.96
Working Capital Days	21.10	7.02	-6.35	88.10	121.67	108.86	160.60	89.15	90.62	41.29	47.98	173.20
ROCE %	-16.49%	7.52%	11.16%	13.15%	-0.91%	13.62%	4.32%	14.02%	19.34%	8.06%	3.82%	10.64%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	35.95%	36.04%	36.54%	36.71%	36.93%	37.78%	38.43%	38.59%	38.77%	38.89%	39.01%	39.01%
DIIs	0.07%	0.07%	0.07%	0.07%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Public	63.97%	63.88%	63.40%	63.22%	63.05%	62.21%	61.57%	61.40%	61.22%	61.10%	60.99%	60.99%
No. of Shareholders	7,187	7,148	7,287	7,324	7,571	7,948	8,020	8,584	8,666	8,596	8,552	8,449

Shareholding Pattern Chart

No. of Shareholders

Gagan Gases Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 20	Mar 19	Mar 18	Mar 17	Mar 16
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	0.59	0.13	4.13	0.13	0.07
Diluted EPS (Rs.)	0.59	0.13	4.13	0.13	0.07
Cash EPS (Rs.)	0.73	0.28	4.28	0.28	0.23
Book Value[Excl.RevalReserv]/Share (Rs.)	7.33	6.74	6.61	2.48	2.35
Book Value[Incl.RevalReserv]/Share (Rs.)	7.33	6.74	6.61	2.48	2.35
Revenue From Operations / Share (Rs.)	12.58	4.72	4.89	6.42	4.81
PBDIT / Share (Rs.)	0.98	0.42	5.68	0.87	0.66
PBIT / Share (Rs.)	0.83	0.27	5.53	0.71	0.50
PBT / Share (Rs.)	0.76	0.19	5.43	0.59	0.35
Net Profit / Share (Rs.)	0.58	0.13	4.13	0.12	0.07
PBDIT Margin (%)	7.85	8.96	116.20	13.70	13.77
PBIT Margin (%)	6.67	5.80	113.15	11.17	10.43
PBT Margin (%)	6.11	4.15	111.10	9.29	7.37
Net Profit Margin (%)	4.68	2.81	84.49	1.97	1.48
Return on Networth / Equity (%)	8.04	1.97	62.52	5.11	3.04
Return on Capital Employeed (%)	10.05	3.51	72.35	17.82	12.07
Return On Assets (%)	6.83	1.64	45.09	2.94	1.62
Long Term Debt / Equity (X)	0.01	0.01	0.00	0.01	0.18
Total Debt / Equity (X)	0.01	0.01	0.00	0.01	0.18
Asset Turnover Ratio (%)	1.51	0.54	0.72	1.48	1.15
Current Ratio (X)	26.04	24.99	5.02	8.53	8.68
Quick Ratio (X)	26.03	23.77	4.83	5.43	7.86
Inventory Turnover Ratio (X)	76.01	9.39	5.57	8.95	17.47
Interest Coverage Ratio (X)	14.18	5.45	56.92	7.27	4.50
Interest Coverage Ratio (Post Tax) (X)	9.46	2.71	42.38	2.05	1.48
Enterprise Value (Cr.)	8.45	8.94	4.75	4.35	2.59
EV / Net Operating Revenue (X)	1.49	4.19	2.15	1.50	1.19
EV / EBITDA (X)	18.91	46.77	1.85	10.94	8.66
MarketCap / Net Operating Revenue (X)	1.57	4.34	2.21	1.56	1.25
Price / BV (X)	2.69	3.04	1.64	4.04	2.55
Price / Net Operating Revenue (X)	1.57	4.34	2.21	1.56	1.25
EarningsYield	0.02	0.01	0.38	0.01	0.01

After reviewing the key financial ratios for Gagan Gases Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 20, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 19) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 20, the value is 0.59. This value is below the healthy minimum of 5. It has increased from 0.13 (Mar 19) to 0.59, marking an increase of 0.46.
For Diluted EPS (Rs.), as of Mar 20, the value is 0.59. This value is below the healthy minimum of 5. It has increased from 0.13 (Mar 19) to 0.59, marking an increase of 0.46.
For Cash EPS (Rs.), as of Mar 20, the value is 0.73. This value is below the healthy minimum of 3. It has increased from 0.28 (Mar 19) to 0.73, marking an increase of 0.45.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 20, the value is 7.33. It has increased from 6.74 (Mar 19) to 7.33, marking an increase of 0.59.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 20, the value is 7.33. It has increased from 6.74 (Mar 19) to 7.33, marking an increase of 0.59.
For Revenue From Operations / Share (Rs.), as of Mar 20, the value is 12.58. It has increased from 4.72 (Mar 19) to 12.58, marking an increase of 7.86.
For PBDIT / Share (Rs.), as of Mar 20, the value is 0.98. This value is below the healthy minimum of 2. It has increased from 0.42 (Mar 19) to 0.98, marking an increase of 0.56.
For PBIT / Share (Rs.), as of Mar 20, the value is 0.83. This value is within the healthy range. It has increased from 0.27 (Mar 19) to 0.83, marking an increase of 0.56.
For PBT / Share (Rs.), as of Mar 20, the value is 0.76. This value is within the healthy range. It has increased from 0.19 (Mar 19) to 0.76, marking an increase of 0.57.
For Net Profit / Share (Rs.), as of Mar 20, the value is 0.58. This value is below the healthy minimum of 2. It has increased from 0.13 (Mar 19) to 0.58, marking an increase of 0.45.
For PBDIT Margin (%), as of Mar 20, the value is 7.85. This value is below the healthy minimum of 10. It has decreased from 8.96 (Mar 19) to 7.85, marking a decrease of 1.11.
For PBIT Margin (%), as of Mar 20, the value is 6.67. This value is below the healthy minimum of 10. It has increased from 5.80 (Mar 19) to 6.67, marking an increase of 0.87.
For PBT Margin (%), as of Mar 20, the value is 6.11. This value is below the healthy minimum of 10. It has increased from 4.15 (Mar 19) to 6.11, marking an increase of 1.96.
For Net Profit Margin (%), as of Mar 20, the value is 4.68. This value is below the healthy minimum of 5. It has increased from 2.81 (Mar 19) to 4.68, marking an increase of 1.87.
For Return on Networth / Equity (%), as of Mar 20, the value is 8.04. This value is below the healthy minimum of 15. It has increased from 1.97 (Mar 19) to 8.04, marking an increase of 6.07.
For Return on Capital Employeed (%), as of Mar 20, the value is 10.05. This value is within the healthy range. It has increased from 3.51 (Mar 19) to 10.05, marking an increase of 6.54.
For Return On Assets (%), as of Mar 20, the value is 6.83. This value is within the healthy range. It has increased from 1.64 (Mar 19) to 6.83, marking an increase of 5.19.
For Long Term Debt / Equity (X), as of Mar 20, the value is 0.01. This value is below the healthy minimum of 0.2. There is no change compared to the previous period (Mar 19) which recorded 0.01.
For Total Debt / Equity (X), as of Mar 20, the value is 0.01. This value is within the healthy range. There is no change compared to the previous period (Mar 19) which recorded 0.01.
For Asset Turnover Ratio (%), as of Mar 20, the value is 1.51. It has increased from 0.54 (Mar 19) to 1.51, marking an increase of 0.97.
For Current Ratio (X), as of Mar 20, the value is 26.04. This value exceeds the healthy maximum of 3. It has increased from 24.99 (Mar 19) to 26.04, marking an increase of 1.05.
For Quick Ratio (X), as of Mar 20, the value is 26.03. This value exceeds the healthy maximum of 2. It has increased from 23.77 (Mar 19) to 26.03, marking an increase of 2.26.
For Inventory Turnover Ratio (X), as of Mar 20, the value is 76.01. This value exceeds the healthy maximum of 8. It has increased from 9.39 (Mar 19) to 76.01, marking an increase of 66.62.
For Interest Coverage Ratio (X), as of Mar 20, the value is 14.18. This value is within the healthy range. It has increased from 5.45 (Mar 19) to 14.18, marking an increase of 8.73.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 20, the value is 9.46. This value is within the healthy range. It has increased from 2.71 (Mar 19) to 9.46, marking an increase of 6.75.
For Enterprise Value (Cr.), as of Mar 20, the value is 8.45. It has decreased from 8.94 (Mar 19) to 8.45, marking a decrease of 0.49.
For EV / Net Operating Revenue (X), as of Mar 20, the value is 1.49. This value is within the healthy range. It has decreased from 4.19 (Mar 19) to 1.49, marking a decrease of 2.70.
For EV / EBITDA (X), as of Mar 20, the value is 18.91. This value exceeds the healthy maximum of 15. It has decreased from 46.77 (Mar 19) to 18.91, marking a decrease of 27.86.
For MarketCap / Net Operating Revenue (X), as of Mar 20, the value is 1.57. This value is within the healthy range. It has decreased from 4.34 (Mar 19) to 1.57, marking a decrease of 2.77.
For Price / BV (X), as of Mar 20, the value is 2.69. This value is within the healthy range. It has decreased from 3.04 (Mar 19) to 2.69, marking a decrease of 0.35.
For Price / Net Operating Revenue (X), as of Mar 20, the value is 1.57. This value is within the healthy range. It has decreased from 4.34 (Mar 19) to 1.57, marking a decrease of 2.77.
For EarningsYield, as of Mar 20, the value is 0.02. This value is below the healthy minimum of 5. It has increased from 0.01 (Mar 19) to 0.02, marking an increase of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Gagan Gases Ltd as of February 17, 2026 is: ₹43.61

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of February 17, 2026, Gagan Gases Ltd is Undervalued by 103.79% compared to the current share price ₹21.40

Intrinsic Value of Gagan Gases Ltd as of February 17, 2026 is: ₹50.47

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of February 17, 2026, Gagan Gases Ltd is Undervalued by 135.84% compared to the current share price ₹21.40

Last 5 Year EPS CAGR: 15.74%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock is trading at a low valuation with an average P/B ratio of 1.57 and average Dividend Yield of 27.60%. The company has shown consistent growth in sales (2.14 cr) and profit (0.28 cr) over the years.	The stock has a low average ROCE of 7.35%, which may not be favorable. The stock has a high average Working Capital Days of 78.60, which may not be favorable. The stock has a high average Cash Conversion Cycle of 88.28, which may not be favorable. The company has higher borrowings (0.34) compared to reserves (-2.85), which may suggest financial risk.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Gagan Gases Ltd:
1. Net Profit Margin: 4.68%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 10.05% (Industry Average ROCE: 14.87%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 8.04% (Industry Average ROE: 13.35%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 9.46
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 26.03
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 87.8 (Industry average Stock P/E: 70.13)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.01
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Gagan Gases Ltd. is a Public Limited Listed company incorporated on 06/03/1986 and has its registered office in the State of Madhya Pradesh, India. Company's Corporate Identification Number(CIN) is L24111MP1986PLC004228 and registration number is 004228. Currently company belongs to the Industry of Industrial Gases. Company's Total Operating Revenue is Rs. 5.69 Cr. and Equity Capital is Rs. 4.52 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Industrial Gases	Plot No.40, Scheme No. 78, Part II, Nr. LCH Hospital, Indore Madhya Pradesh 452010	Contact not found

Management
Name	Position Held
Mr. Gagan Maheshwary	Managing Director
Mr. K R Maheshwary	Director
Mr. B S Rana	Director
Mr. Dinesh Kumar Randhar	Independent Director
Mrs. Usha Srivastava	Independent Director

FAQ

What is the intrinsic value of Gagan Gases Ltd?

Gagan Gases Ltd's intrinsic value (as of 17 February 2026) is ₹50.47 which is 135.84% higher the current market price of ₹21.40, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's ₹9.65 Cr. market cap, FY2025-2026 high/low of ₹35.8/17.6, reserves of ₹-1.28 Cr, and liabilities of ₹3.84 Cr.

What is the Market Cap of Gagan Gases Ltd?

The Market Cap of Gagan Gases Ltd is 9.65 Cr..

What is the current Stock Price of Gagan Gases Ltd as on 17 February 2026?

The current stock price of Gagan Gases Ltd as on 17 February 2026 is ₹21.4.

What is the High / Low of Gagan Gases Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Gagan Gases Ltd stocks is ₹35.8/17.6.

What is the Stock P/E of Gagan Gases Ltd?

The Stock P/E of Gagan Gases Ltd is 87.8.

What is the Book Value of Gagan Gases Ltd?

The Book Value of Gagan Gases Ltd is 7.17.

What is the Dividend Yield of Gagan Gases Ltd?

The Dividend Yield of Gagan Gases Ltd is 0.00 %.

What is the ROCE of Gagan Gases Ltd?

The ROCE of Gagan Gases Ltd is 10.6 %.

What is the ROE of Gagan Gases Ltd?

The ROE of Gagan Gases Ltd is 8.49 %.

What is the Face Value of Gagan Gases Ltd?

The Face Value of Gagan Gases Ltd is 10.0.