Gagan Gases

BSE: GAGAN · Industrial Gases

52W Range₹12 ₹38

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Snapshot

Unlock Gagan Gases's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Gagan Gases Limited is an Indian company primarily engaged in the bottling and distribution of Liquefied Petroleum Gas (LPG) for domestic, commercial, and industrial applications. The company has also diversified its operations into the real estate sector, focusing on land development and residential projects.

Business Model

The company generates revenue through the sale and distribution of LPG under its own brand name and through the development and sale of real estate assets. Its operations are concentrated in Central India, leveraging a regional distribution network.

Management Commentary

There is no recent specific management commentary available regarding the company's strategic direction or financial performance.

Growth Outlook

Growth is expected to be driven by regional energy demand in Central India and the continued execution of real estate development projects. The company's small-cap status suggests a focus on localized market penetration.

Key Risks

  • Regulatory Risk. The LPG distribution business is subject to stringent government regulations and price controls that may impact profit margins.
  • Real Estate Market Cyclicality. The company's diversification into real estate exposes it to fluctuations in property demand and interest rate sensitivity.
  • Geographic Concentration. Operating primarily in Central India makes the company vulnerable to regional economic downturns or localized competitive pressures.
  • Commodity Price Volatility. Fluctuations in global LPG prices can significantly affect the cost of goods sold and overall operational profitability.

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Key Metrics

REVENUE

₹6 Cr

TTM · standalone

+21.1%YoY

NET PROFIT

₹0.29 Cr

TTM · standalone

-3.3%YoY

EPS

₹0.64

TTM · standalone

-4.5%YoY

RETURN ON EQUITY

8.7%

TTM · standalone

-0.4 ppYoY

P/E

31.1x

Q4 FY26 · standalone

31.1 vs 63.0x5Y avg

EV/EBITDA

27.2x

Q4 FY26 · standalone

27.2 vs 22.2x5Y avg

EBITDA MARGIN

7.3%

TTM · standalone

-3.5 ppYoY

NET PROFIT MARGIN

7.2%

Q4 FY26 · standalone

-3.3 ppYoY

DEBT TO EQUITY

0.1x

Q4 FY26 · standalone

-0.01xYoY

Peers · Industrial Gases

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Gagan GasesGAGAN
₹9 Cr30.6420.1121.1%7.3%8.7%9.7%-10.5%
Linde India Ltd.LINDEINDIA
₹55,469 Cr101.5359.3710.4%35.1%13.5%15.9%+2.0%
Ellenbarrie Industrial Gases LtdELLEN
₹4,507 Cr37.3625.5551.4%12.3%14.5%-38.2%
Refex Industries LimitedREFEX
₹3,946 Cr15.978.6426.5%15.9%16.5%25.1%-21.5%
Stallion India Fluorochemicals LimitedSTALLION
₹2,479 Cr37.1431.8416.4%10.6%14.4%+43.4%

As of Q4 FY26

Financials