As of 6 Nov 2026, Bhagawati Oxygen trades at 2.8× trailing earnings, below the industry P/E of 22.1×, and the shares are 25% below their 52-week high. Its ROCE of 44% is the highest among the 7 largest Specialty Chemicals peers, and sales fell 11% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. Debt is 0.15× equity. It is a small-cap company with a market cap of ₹8.25 Cr, ranked 199th of 204 Specialty Chemicals companies by market cap; the shares fell 12% over the past year.
- ₹39.99
- ₹39.99
- ₹35.10
- ₹36.45
- 334
Health check
- ReturnsBehind
−12.3% over a year, better than 0 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthShrinking
Sales −10.7% a year over 3 years.
- ProfitabilityStrong
ROCE 43.8% vs peer median 24.4%.
- Balance sheetFair
Debt 0.15× equity, interest covered 64.6×, Piotroski 5 of 9.
- Red flags3 to check
Quarterly sales down 9.6% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹8.25 Cr
- Small cap
- P/E
- 2.8
- Industry 22.1
- Price to book
- 1.14
- Peers 13.33
- Dividend yield
- 0.00%
- ROE
- 58.2%
- Peers 23.0%
- ROCE
- 43.8%
- Peers 24.4%
- Debt to equity
- 0.15
- Debt ₹1.06 Cr
- EPS (TTM)
- ₹12.85
- OPM (TTM)
- −292.0%
- Net margin 628.6%
- Sales growth
- −9.6%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 17.46
- EV/EBITDA −5.8
Strengths and risks
Strengths
- Return on equity of 58.2%.
- Return on capital employed of 43.8%.
Risks to check
- Quarterly sales down 9.6% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- Interest coverage of only −23.3×.
About Bhagawati Oxygen
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…
- Headquarters
- Ballabhgarh
- Employees
- 16
- Sector
- Basic Materials
- ISIN
- INE026I01010
- Website
- globalbol.com
Price range
- Avg volume (3M)
- 837
- 1-year return
- minus 12.3%
- From 52-week high
- minus 25.2%
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 16.5% | 0.09 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.4% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| BHAGWOXBhagawati Oxygen | 35.69 | minus 2.09% | 8 | 2.8 | – | 43.8% | −292.0% | 0.15 | −10.7% | minus 12.3% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.4% | 0.21 | 5.8% | 6.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 0.1 | 0.3 | 0 | 0 | 0.1 | |
| 0.4 | 0.5 | 0.4 | 0.5 | 0.6 | |
| −0.3 | −0.2 | −0.3 | −0.4 | −0.4 | |
| −189.9% | −57.5% | −764.1% | −7349.2% | −318.9% | |
| 0.3 | 0.3 | 0.3 | 3.8 | 0.1 | |
| 0 | 0 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | |
| −0 | 0.1 | −0.1 | 3.3 | −0.4 | |
| −18.5% | 4.3% | −7.2% | 2.0% | 12.3% | |
| −0 | 0.1 | −0.1 | 3.3 | −0.3 | |
| -0.14 | 0.49 | -0.33 | 14.11 | -1.42 |
Profit & loss
- Sales CAGR 3Y
- −10.7%
- ROE
- 58.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.7 | 0.7 | 0.8 | 0.5 | |
| – | +5.9% | +12.0% | minus 39.9% | |
| 1.8 | 5.4 | 1.8 | 1.7 | |
| −1.2 | −4.7 | −1 | −1.2 | |
| −170.6% | −649.7% | −124.4% | −252.0% | |
| 0.1 | 0.3 | 0.3 | 4 | |
| 0.7 | 0.4 | 0.1 | 0.1 | |
| 1.7 | 0.5 | 0 | 0 | |
| 0.9 | 5.9 | 0.3 | 0.6 | |
| −2.6 | 0.6 | −0.5 | 3.3 | |
| 7.3% | 25.8% | 11.4% | 2.4% | |
| −2.4 | 0.4 | −0.5 | 3.3 | |
| -10.47 | 1.78 | -1.95 | 14.13 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2.3 | 2.3 | 2.3 | 2.3 | |
| 1.9 | 2.2 | 1.7 | 4.9 | |
| 6.4 | 1.3 | 1.6 | 1.1 | |
| 2.9 | 5.5 | 5.6 | 2.1 | |
| 13.5 | 11.3 | 11.1 | 10.4 | |
| 5.3 | 1.4 | 1.4 | 1.5 | |
| 1.7 | 5.1 | 5.6 | 6.4 | |
| 1.3 | 0.6 | 0.6 | 1.3 | |
| 5.2 | 4.2 | 3.6 | 1.1 | |
| 13.5 | 11.3 | 11.1 | 10.4 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.3 | −4.2 | −0.6 | 0.4 | |
| 2.2 | 9.1 | 0.4 | 0.2 | |
| −1.9 | −5.5 | 0.2 | −0.6 | |
| 0.6 | −0.6 | −0 | 0 | |
| −0 | −0 | – | −0.2 | |
| 0.3 | −4.2 | −0.6 | 0.2 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.