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Bhagawati Gas Ltd (BAGWATIGAS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500051 NSE: BAGWATIGAS Industrial Gases & Fuels | Small Cap | Bhagawati Gas Share Price

₹9.65 0.18 (1.90%)

As on 07-Jul'26 16:59

Bhagawati Gas Ltd (BAGWATIGAS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500051 NSE: BAGWATIGAS Industrial Gases & Fuels | Small Cap | Bhagawati Gas Share Price

₹9.65 0.18 (1.90%)

As on 07-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹16 Cr.
Current Price
₹9.7
52-Week Low / High
₹1 / 9
TTM EPS
₹0.6
TTM Sales
₹0.3 Cr.
Book Value per Share
₹9.4
P/E Ratio
16.03
Higher than its 5-year historical median
Industry PE
26.2
Price to Book (P/B)
1.01
Higher than its 5-year historical median
Price to Sales (P/S)
63.93
Higher than its 5-year historical median
EV/EBITDA
10.71
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
0.98%
Underperforms industry median
Return on Capital Employed (ROCE)
7.22%
Outperforms industry median
Return on Assets (ROA)
0.75%
Operating Profit Margin
-555.4%
Net Profit Margin
30.85%
Gross Profit Margin
221.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
-22.03%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
34.23%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹-1 Cr.
Equity
₹16.7 Cr.
Face Value
₹10
All Time Low / High
₹0.50 / 38.00

Bhagawati Gas stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Bhagawati Gas Ltd a good quality company?
Bhagawati Gas Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Bhagawati Gas Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Bhagawati Gas Ltd vs industry peers?
Bhagawati Gas Ltd revenue CAGR is 16.98%, compared to the industry median CAGR of 1.69%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Bhagawati Gas Ltd?
Promoters hold 34.23% of the Bhagawati Gas Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Bhagawati Gas Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 26% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Bhagawati Gas Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % -4.6%-4.3%-3.7%-8.1%-6%-8.4%6.2%-4.6%1.4%7.2%-
Value Creation
Index
-1.3-1.3-1.3-1.6-1.4-1.6-0.6-1.3-0.9-0.5-

Growth Parameters

Sales 00000.201.10.10.60.50
Sales YoY Gr.-NANANANA-100%NA-88.3%353.9%-22%-
Adj EPS -0.6-0.3-0.50.6-0.6-1.10.50.4-0.1-1.30.6
YoY Gr.-NANANA-192.2%NANA-19.6%-135.1%NA-
BVPS (₹) 10.410.19.79.58.97.98.48.88.78.89.4
Adj Net
Profit
-1-0.5-0.81.1-1-1.80.80.6-0.2-2.11
Cash Flow from Ops. 00.2-0.412.5-2.2-2.9-2.1-1.6-0.7-2.6-
Debt/CF from Ops. 6620.3-2.10-0.1-0.1-0.1-0.3-1.2-1.1-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NA17%-25.4%-22%
Adj EPS NANA-239.9%NA
BVPS-1.8%-0.2%1.5%1.2%
Share Price 32% 78.7% 163.1% 1720.8%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-5.5-3.1-56.7-6.4-12.55.74.4-1.5-14.56.5
Op. Profit
Mgn %
0000-798.10-198.3-997.9-124.4-555.4-463.3
Net Profit
Mgn %
0000-461.1069.6489.7-37.5-457.5395.1
Debt to
Equity
0.10.30.1000000.10.20
Working Cap
Days
00007,44001,74816,3676,47312,7721,09,519
Cash Conv.
Cycle
00001150467082491,81764,931

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales00000.2101.110.130.590.46
Operating Expenses + 0.540.630.604.531.931.583.301.421.323.03
Manufacturing Costs0.030.010.020.040.110.110.130.130.050.33
Material Costs0000000.80000.11
Employee Cost 0.270.290.290.620.790.710.790.770.750.82
Other Costs 0.250.330.303.871.020.761.590.520.511.77
Operating Profit -0.54-0.63-0.60-4.53-1.71-1.58-2.20-1.29-0.73-2.57
Operating Profit Margin (%) -----800.0%--198.0%-1,007.2%-124.0%-556.0%
Other Income + 0.070.170.183.370.920.543.220.781.113.90
Exceptional Items 0000000000
Interest 0.100.100.080.130.060.120.060.100.120.31
Depreciation 0.390.390.280.170.150.150.150.170.160.14
Profit Before Tax -0.96-0.95-0.78-1.46-1-1.320.80-0.780.100.88
Tax 0-0.48-0.04-1.28-0.020.430-1.400.320.74
Profit After Tax -0.96-0.47-0.73-0.18-0.99-1.750.800.62-0.220.14
PAT Margin (%) -----462.0%-72.2%483.2%-37.5%30.9%
Adjusted EPS (₹)-0.6-0.3-0.4-0.1-0.6-1.10.50.4-0.10.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Bhagawati Gas - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 17.3416.8816.1715.8714.8513.2014.0614.7014.5214.69
Share Capital 16.7416.7416.7416.7416.7416.7416.7416.7416.7416.74
Reserves 0.600.14-0.57-0.88-1.89-3.54-2.68-2.05-2.23-2.05
Debt +0.770.880.770.280.270.270.270.300.872.72
Long Term Debt0.270.380.3100000.0300
Short Term Debt0.500.500.460.280.270.270.270.270.872.72
Minority Interest0000000000
Trade Payables0.130.130.130.08000000
Others Liabilities 7.026.326.563.414.333.523.672.592.392.90
Total Liabilities 25.2624.2123.6319.6319.4516.991817.5817.7820.32

Fixed Assets

Net Fixed Assets +5.835.524.952.802.652.492.502.332.172.20
Gross Block22.9122.5712.346.766.766.766.916.916.927.09
Accumulated Depreciation17.0817.067.393.964.114.264.424.584.744.88
CWIP 0000000000
Investments 0.020.040.030.010.010.010.050.040.050.04
Inventories000000000.190.25
Trade Receivables5.775.775.770.060.080.080.200.300.313.84
Cash Equivalents 0.170.260.1013.1111.789.2710.069.110.860.47
Others Assets 13.4812.6212.783.654.935.135.195.8114.2013.51
Total Assets 25.2624.2123.6319.6319.4516.991817.5817.7820.32

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 0.020.23-0.3612.46-2.21-2.93-2.12-1.60-0.74-2.60
PBT -0.96-0.95-0.78-1.46-1-1.320.80-0.780.100.88
Adjustment 0.420.330.213.11-0.64-0.11-2.74-0.42-0.480.22
Changes in Working Capital 0.560.810.2110.81-0.57-1.06-0.18-1.8-0.04-2.96
Tax Paid -00.04-000-0.43-01.40-0.32-0.74
Cash Flow From Investing Activity + 0.150.060.311.170.950.542.970.740.810.57
Capex 00.010.430.1700-0.16-00-0.17
Net Investments 0.110.0100000000
Others 0.040.04-0.1210.950.543.130.740.810.74
Cash Flow From Financing Activity + -0-0.19-0.11-0.61-0.07-0.12-0.06-0.100.351.63
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0-0.190-0.31000000
Interest Paid -0.06-0-0-0.13-0.06-0.12-0.06-0.10-0.12-0.31
Dividend Paid 0000000000
Others 0.050-0.11-0.18-0.010000.471.94
Net Cash Flow 0.160.10-0.1713.01-1.33-2.510.79-0.950.42-0.40

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-5.4-2.74-4.44-1.13-6.44-12.55.874.31-1.510.98
ROCE (%)-4.59-4.28-3.65-8.07-6.04-8.366.22-4.631.447.22
Asset Turnover Ratio00000.0100.060.010.030.02
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/A-2.65-2.58N/A-18.57
Working Capital Days
Receivable Days0000126.70046.20707.60188.601,640.20
Inventory Days00000000120.10176.70
Payable Days0000000000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Bhagawati Gas Ltd FAQs

The current trading price of Bhagawati Gas on 07-Jul-2026 16:59 is ₹9.65.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 06-Jul-2026 the market cap of Bhagawati Gas stood at ₹15.86 Cr

The latest P/E ratio of Bhagawati Gas as of 06-Jul-2026 is 16.03.

The latest P/B ratio of Bhagawati Gas as of 06-Jul-2026 is 1.01.

The 52-week high of Bhagawati Gas is ₹9.47 and the 52-week low is ₹0.79.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bhagawati Gas is ₹0.25 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Bhagawati Gas Ltd is a below average quality company.

The key valuation ratios of Bhagawati Gas Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Bhagawati Gas Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Bhagawati Gas Ltd

Bhagawati Gases Limited (BGL) was incorporated as a Public Limited Company on November 16, 1974. BGL has been operating as a dedicated producer, distributor and marketer of industrial gases for over three decades.Today, BGL produces and delivers gases to a spectrum of industries including chemical, metallurgical, pharmaceutical, petrochemical, food processing, heavy engineering.

In addition, the company offers multifaceted technical expertise to its valued customers in the following areas:

  • Technical consultancy to help clients select the plant best suited to their specific requirements.
  • Installation and commissioning of air separation and PSA plants of any scale- large, medium or small
  • Execution of turnkey gas projects on Build-Own-Operate-Maintain (BOOM) basis
  • Bulk handling and distribution of gases in liquid and vapour form.
  • Supply of medical Oxygen to hospitals and nursing homes.

Upto 1987, the company was engaged in transportation and supply of liquid oxygen (a by-product of fertilizer plants) to the Khetri smelter plant of Hindustan Copper Ltd (HCL) from various fertilizer plants viz. National Fertilizers Ltd. Fertilizer Corporation of India Gujarat Narmada Fertilizers Ltd. etc BGL has the experience and capability of transporting atmospheric gases like oxygen, nitrogen and argon in liquid state, in cryogenic road tankers, from the company's air separation plants. Such liquefied gases are either moved or BGL's own gas compressing stations and distribution centers, or directly to large customers. The company also helps install specialized equipment for handling and storing gases below -1960C. BGL's gases feature extremely low PPM levels of impurities to match demanding purity requirements of end users. 

To benefit large volume gas consumers like copper smelters, BGL endeavors to create installed capacity at or near the point of actual consumption. In fact, today over 60% of BGL's total oxygen supply is through pipelines from plants constructed in the vicinity of large industries that require a continuous supply of the gas. Industrial gases also require a high degree of expertise in storage and movement. BGL has the experience and capability of transporting atmospheric gases like oxygen, nitrogen and argon in liquid state, in cryogenic road tankers, from the company's air separation plants. Such liquefied gases are either moved or BGL's own gas compressing stations and distribution centers, or directly to large customers. The company also helps install specialized equipment for handling and storing gases below -1960C.

Along with its sister company , Bhagawati Oxygen Ltd., BGL has created a wide network of compressing stations to provide convenient access to customers requiring gases in cylinders. For large volume cylinder customers, specially fabricated truck trailers transport the gases to location with utmost safety and care. In the area of special gases, signifying ultra high purity gases mixtures, BGL offers customized products. These are being supplied for R&D, product & process control, environmental monitoring, and medical care & diagnosis applications. BGL's gases feature extremely low PPM levels of impurities to match demanding purity requirements of end users.

Its other group companies are Bhagawati Steel, Bhagawati International, Bhagawati Castings and Ramrup Credit & Leasing.

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