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National Oxygen (BSE: NOL) had a P/E of 17.3× on 6 Nov 2026, below the industry P/E of 22.1×, and the shares are 56% below their 52-week high. Sales fell 21% a year over 3 years, with ROCE of 17%, though net profit is above operating profit, which points to a one-off gain. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹29 Cr. It is a small-cap company with a market cap of ₹29 Cr, ranked 181st of 204 Specialty Chemicals companies by market cap; the shares fell 45% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Jun 2026.How we calculate this

past year
Open
₹57.24
Day high
₹60.00
Day low
₹56.12
Prev. close
₹56.68
Volume
1.5K

Health check

5 to check
  • ReturnsBehind

    −45.3% over a year, better than 0 of 7 peers.

  • Price tagNegative equity

    Book value is below zero, so P/E and P/B mislead here.

  • GrowthShrinking

    Sales −21.3% a year over 3 years.

  • ProfitabilityDistorted

    With negative net worth, return ratios are meaningless.

  • Balance sheetStretched

    Negative net worth: liabilities exceed assets.

  • Red flags5 to check

    Negative net worth: liabilities exceed assets.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Specialty Chemicals

203 listed peers. Screen the industry

Small cap

₹29 Cr, #181 of 204 in its industry by size.

Defensive

Beta 0.48 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Jun 2026: sales ₹19 Cr · profit ₹2 Cr
Market cap
₹29 Cr
Small cap
P/E
17.3
Industry 22.1
Price to book
−4.83
Peers 13.33
Dividend yield
0.00%
ROE
n/a
Peers 23.0%
ROCE
17.4%
Peers 24.4%
Debt to equity
n/a
Debt ₹29 Cr
EPS (TTM)
₹3.37
OPM (TTM)
−19.1%
Net margin 8.9%
Sales growth
−59.9%
Latest quarter vs a year ago
Profit growth
n/a
Year-ago quarter not reported
Price to sales
1.54
EV/EBITDA −19.2

Strengths and risks

Risks to check

  • Negative net worth: liabilities exceed assets.
  • Quarterly sales down 59.9% on a year ago.
  • Net profit is above operating profit, so a one-off gain is likely flattering earnings.
  • 56% below its 52-week high.
  • Interest coverage of only −2.5×.

No standout strengths in the headline numbers.

Derived automatically from reported figures. Not a recommendation.

About National Oxygen

National Oxygen Limited engages in the manufacture and sale of industrial gases in liquid and gaseous forms in India. The company offers liquid and gaseous oxygen, nitrogen, and medical oxygen, as well as dissolved acetylene gas. The Company's products are widely used in hospitals and various industrial sectors. National Oxygen Limited was incorporated in 1974 and is based in Chennai, India.

Headquarters
Chennai
Sector
Basic Materials
ISIN
INE296D01010
Website
nolgroup.com

Price range

52 weeks

₹42.50₹132.50

Today

₹56.12₹60.00
Avg volume (3M)
1.2K
1-year return
minus 45.3%
From 52-week high
minus 55.9%

Peers · Specialty Chemicals

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
ASIANPAINTAsian Paints2,546.00plus 0.88%2,44,02550.535.024.4%18.9%0.211.1%plus 1.5%
SOLARINDSSolar Industries India18,608.00plus 0.48%1,68,38474.464.129.5%27.8%0.2212.4%plus 35.9%
PIDILITINDPidilite Industries1,579.00plus 1.63%1,60,82760.044.428.5%23.5%0.037.4%plus 6.8%
LINDEINDIALinde India6,859.00plus 8.73%58,496118.464.216.3%31.5%0.23–plus 5.4%
BERGEPAINTBerger Paints India478.35minus 5.28%55,77645.429.420.6%15.3%0.154.2%minus 6.0%
FLUOROCHEMGujarat Fluorochemicals4,665.50minus 0.94%51,25175.944.09.6%24.1%0.26−4.5%plus 28.0%
ACUTAASAcutaas Chemicals3,786.60plus 0.42%31,00170.964.127.7%39.4%0.0129.4%plus 105.6%
NOLNational Oxygen58.44plus 3.11%2917.3–17.4%−19.1%–−21.3%minus 45.3%
Median of 7 peers–0.48%58,49670.944.424.4%24.1%0.215.8%6.8%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26
7.66.4543
8.66.85.85.14.3
−1−0.4−0.7−1.1−1.2
−13.7%−6.9%−14.7%−27.7%−40.8%
0.10.20.10.30.2
0.30.30.40.50.5
0.60.60.60.60.5
–8.1–––
−1.97−1.6−1.8−2
−1.97−1.6−1.8−2
-3.1713.96-3.08-3.53-3.98

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
−21.3%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
47.145.340.623
–minus 3.9%minus 10.3%minus 43.4%
43.4444326.3
3.71.2−2.5−3.3
7.8%2.8%−6.1%−14.4%
0.30.40.2−7.8
1.51.61.51.3
3.33.33.22.3
–0016.6
−0.8−3.2−71.8
−0.8−3.2−71.8
-1.65-6.60-13.893.64

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
4.8555
−5.7−6−13.1−11.1
17.119.821.819.7
18.815.417.314.6
34.934.131.128.3
22.222.819.821.7
0.10.80.23.3
0.10.10.30.2
2.30.40.40.4
10.210.110.42.6
34.934.131.128.3

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
2.21−0.2−1.1
−0.6−3.7−0.24.5
−5.91.10.5−3.5
−4.3−1.70.1−0
−0.9−3.9−0.2−4.6
1.4−2.9−0.4−5.7

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

BSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you