Gagan Gases Ltd: Intrinsic Value & Share Price Analysis

Q: What is the intrinsic value of Gagan Gases Ltd and is it undervalued?

As of 26 April 2026, Gagan Gases Ltd's intrinsic value is 12.19, which is 7.65% lower than the current market price of 13.20, suggesting the stock is overvalued. Calculated using the PE ratio method factoring in ROE (8.49 %), book value (7.17), dividend yield (0.00 %), and 5-year EPS CAGR.

Q: What is the current share price and 52-week range of Gagan Gases Ltd?

Gagan Gases Ltd is trading at 13.20 as of 26 April 2026, with a FY2026-2027 high of 37.7 and low of 11.9. The stock is currently near its 52-week low. Market cap stands at 5.97 Cr..

Q: Is Gagan Gases Ltd financially healthy?

Key indicators: ROCE of 10.6 % is moderate. Dividend yield is 0.00 %.

Q: Is Gagan Gases Ltd profitable and how is the profit trend?

Gagan Gases Ltd reported a net profit of 0 Cr in Mar 2025 on revenue of 6 Cr. Compared to 0 Cr in Mar 2022, the net profit shows an improving trend.

Fair Value

₹26.97Undervalued by 104.32%vs CMP ₹13.20

P/E (54.3) × ROE (8.5%) × BV (₹7.17) × DY (2.00%)

₹12.19Fairly Valued by 7.65%vs CMP ₹13.20

MoS: -8.3% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹30.74	23%	Under (+132.9%)
Graham Number	Earnings	₹6.35	16%	Over (-51.9%)
Earnings Power	Earnings	₹8.38	11%	Over (-36.5%)
DCF	Cash Flow	₹3.87	14%	Over (-70.7%)
Net Asset Value	Assets	₹7.16	7%	Over (-45.8%)
EV/EBITDA	Enterprise	₹8.20	9%	Over (-37.9%)
Earnings Yield	Earnings	₹2.50	7%	Over (-81.1%)
ROCE Capital	Returns	₹8.07	7%	Over (-38.9%)
Revenue Multiple	Revenue	₹12.58	5%	Fair (-4.7%)
Consensus (9 models)		₹12.19	100%	Fairly Valued

Key Drivers: Wide model spread (₹3–₹31) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 14.0%

*Investments are subject to market risks

Analyst Summary

Gagan Gases Ltd operates in the Industrial Gases segment, NSE: GAGAN | BSE: 524624, current market price is ₹13.20, market cap is 5.97 Cr.. At a glance, stock P/E is 54.3, ROE is 8.49 %, ROCE is 10.6 %, book value is 7.17, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹12.19, around 7.7% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹6 Cr versus the prior period change of 167.1%, while latest net profit is about ₹0 Cr with a prior-period change of 350.0%. The 52-week range shown on this page is 37.7/11.9, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisGagan 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 L2…

This summary is generated from the stock page data available for Gagan Gases Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Gagan Gases Ltd scores 47/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health58/100 · Moderate

ROCE 10.6% AverageROE 8.5% AverageD/E 0.18 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money50/100 · Moderate

Promoter holding at 39.0% Stable

Earnings Quality30/100 · Weak

OPM contracting (11% → 7%) DecliningWorking capital: 173 days Capital intensive

Quarterly Momentum40/100 · Moderate

Revenue (4Q): 0% YoY FlatProfit (4Q): -39% YoY Declining

Industry Rank60/100 · Moderate

P/E 54.3 vs industry 58.3 In-lineROCE 10.6% vs industry 14.9% Average3Y sales CAGR: 25% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 26, 2026, 1:32 am

Market Cap	5.97 Cr.
Current Price	13.2
Intrinsic Value	₹12.19
High / Low	37.7/11.9
Stock P/E	54.3
Book Value	7.17
Dividend Yield	0.00 %
ROCE	10.6 %
ROE	8.49 %
Face Value	10.0
PEG Ratio	3.89

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	5.97 Cr.	13.2	37.7/11.9	54.3	7.17	0.00 %	10.6 %	8.49 %	10.0
Bhagawati Oxygen Ltd	8.09 Cr.	35.0	67.0/33.6	57.8	17.5	0.00 %	6.68 %	10.6 %	10.0
Refex Industries Ltd	3,397 Cr.	248	534/188	16.1	97.5	0.20 %	25.3 %	22.0 %	2.00
Linde India Ltd	61,542 Cr.	7,216	7,870/5,653	105	463	0.06 %	16.9 %	12.3 %	10.0
Industry Average	32,469.50 Cr	1,878.05		58.30	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: March 3, 2026, 9:44 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 5:30 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	5.27
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	5.09
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	0.18
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%	3.42%
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	0.18
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	0.11
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	0.25
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: March 3, 2026, 3:00 am

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

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	-0.24	0.29	0.25	0.16	0.03	0.16	-0.35	0.24	0.11	0.09	0.09	0.25
CFO/OP	185%	375%	186%	100%	75%	100%	-270%	111%	53%	271%	71%	103%

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

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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 and is it undervalued?

As of 26 April 2026, Gagan Gases Ltd's intrinsic value is ₹12.19, which is 7.65% lower than the current market price of ₹13.20, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (8.49 %), book value (₹7.17), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Gagan Gases Ltd?

Gagan Gases Ltd is trading at ₹13.20 as of 26 April 2026, with a FY2026-2027 high of ₹37.7 and low of ₹11.9. The stock is currently near its 52-week low. Market cap stands at ₹5.97 Cr..

How does Gagan Gases Ltd's P/E ratio compare to its industry?

Gagan Gases Ltd has a P/E ratio of 54.3, which is below the industry average of 58.30. This is broadly in line with or below the industry average.

Is Gagan Gases Ltd financially healthy?

Key indicators for Gagan Gases Ltd: ROCE of 10.6 % is moderate. Dividend yield is 0.00 %.

Is Gagan Gases Ltd profitable and how is the profit trend?

Gagan Gases Ltd reported a net profit of ₹0 Cr in Mar 2025 on revenue of ₹6 Cr. Compared to ₹0 Cr in Mar 2022, the net profit shows an improving trend.

Does Gagan Gases Ltd pay dividends?

Gagan Gases Ltd has a dividend yield of 0.00 % at the current price of ₹13.20. The company is currently not paying meaningful dividends.