National Oxygen Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2019 • Industrial Gases: 100.0%
AI Sector View
AI GENERATEDChemicals
The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.
PROS
- Company is almost debt free
- Working capital cycle has improved - days down from -40 to -90
CONS
- Net worth is negative - accumulated losses have eroded equity
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Company has a low return on capital employed of -4.3%
- A large part of profit comes from other income (41.3% of PBT)
- Company has a low return on equity of 0.0% over last 3 years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LINDEINDIA | 6223.25 | 97.14 | 53074.50 | 0.19 | 104.59 | -2.42 | 694.36 | 21.59 | 18.50 | 29.12 |
| PETRONET | 287.00 | 10.23 | 43050.00 | 3.48 | 1137.14 | 35.07 | 5557.84 | -53.22 | 25.43 | 28.14 |
| BHARATCOAL | 33.00 | 119.80 | 15368.10 | 0.00 | -68.09 | -202.39 | 3587.27 | -7.20 | 4.32 | -1.80 |
| ELLEN | 380.25 | 44.42 | 5359.08 | 0.00 | 34.96 | 86.86 | 98.72 | 18.04 | 15.70 | 38.12 |
| IRMENERGY | 279.95 | 15.72 | 1149.47 | 0.54 | 33.81 | 142.86 | 354.75 | 24.26 | 8.64 | 17.27 |
| NOL | 56.33 | 16.70 | 28.40 | 0.00 | -2.01 | -7.27 | 3.04 | -59.88 | 14.39 | -40.85 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 11 | 12 | 11 | 11 | 11 | 11 | 11 | 9 | 8 | 6 | 5 | 4 | 3 | |
| 11 | 11 | 11 | 11 | 11 | 11 | 12 | 10 | 9 | 7 | 6 | 5 | 5 | |
| Operating Profit | 1 | 0 | -0 | 0 | 0 | 0 | -1 | -2 | -1 | -0 | -1 | -1 | -2 |
| OPM % | 4.68% | 4.23% | -0.09% | 2.09% | 0.00% | 0.57% | -7.05% | -20.53% | -13.57% | -6.91% | -14.68% | -27.46% | -73.89% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | -1 | -1 | -1 | -1 | -1 | -1 | -2 | -3 | -2 | 7 | -2 | -2 | -2 |
| Tax % | -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% |
| Net Profit | -1 | -1 | -1 | -1 | -1 | -1 | -2 | -3 | -2 | 7 | -2 | -2 | -2 |
| -1.21 | -1.26 | -2.52 | -1.65 | -2.47 | -2.35 | -3.92 | -5.16 | -3.71 | 13.96 | -3.08 | -3.53 | -3.98 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 36 | 41 | 46 | 44 | 40 | 51 | 47 | 45 | 41 | 23 | 18 | |
| 31 | 36 | 38 | 38 | 34 | 39 | 43 | 44 | 43 | 26 | 23 | |
| Operating Profit | 5 | 5 | 9 | 6 | 6 | 11 | 4 | 1 | -2 | -3 | -5 |
| OPM % | 13.54% | 13.28% | 18.56% | 14.56% | 15.54% | 22.59% | 7.81% | 2.76% | -6.08% | -14.45% | -24.53% |
| 0 | 2 | 3 | 0 | 0 | 1 | 1 | 0 | 0 | 9 | 9 | |
| Interest | 6 | 6 | 5 | 5 | 4 | 2 | 2 | 2 | 2 | 1 | 2 |
| Depreciation | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 2 | 2 |
| Profit before Tax | -5 | -2 | 4 | -2 | -1 | 8 | -1 | -3 | -7 | 2 | 2 |
| Tax % | -0.00% | 0.41% | 0.09% | -0.88% | -0.00% | 0.00% | -0.00% | -0.00% | -0.00% | 0.00% | 0.00% |
| Net Profit | -5 | -2 | 4 | -2 | -1 | 8 | -1 | -3 | -7 | 2 | 2 |
| EPS | 0.00 | 0.00 | 0.00 | -3.26 | -2.28 | 15.88 | -1.65 | -6.41 | -13.89 | 3.64 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -4%
- 5 Years:
- -10%
- 3 Years:
- -21%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 15%
RETURN ON EQUITY
- 10 Years:
- 35%
- 5 Years:
- 69%
- 3 Years:
- 0%
- Last Year:
- 0%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| -9 | -13 | -10 | -11 | -0 | -5 | -6 | -6 | -13 | -11 | |
| 50 | 45 | 39 | 39 | 26 | 34 | 30 | 28 | 30 | 29 | |
| Trade Payables | 4 | 3 | 2 | 3 | 3 | 3 | 3 | 3 | 4 | 3 |
| 2 | 3 | 3 | 2 | 2 | 2 | 2 | 5 | 5 | 3 | |
| Total Liabilities | 51 | 42 | 39 | 38 | 36 | 40 | 35 | 34 | 31 | 28 |
| 41 | 35 | 32 | 29 | 26 | 24 | 22 | 22 | 20 | 18 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 3 |
| 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 3 | 2 | |
| Cash & Bank | 1 | 1 | 1 | 1 | 1 | 6 | 2 | 0 | 1 | 1 |
| 9 | 6 | 6 | 7 | 8 | 8 | 9 | 4 | 6 | 3 | |
| Total Assets | 51 | 42 | 39 | 38 | 36 | 40 | 35 | 34 | 31 | 28 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 5 | 8 | 8 | 5 | 7 | 12 | 2 | 1 | -0 | -1 | |
| Cash from Investing | 1 | 3 | 3 | -0 | -1 | 0 | -1 | -4 | -0 | 5 |
| Cash from Financing | -6 | -11 | -11 | -4 | -6 | -7 | -6 | 1 | 0 | -3 |
| -0 | 0 | 0 | 0 | -0 | 5 | -4 | -2 | 0 | -0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
Recent coverage and analyst commentary for NOL
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National Oxygen Ltd.
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