Stallion India

NSE: STALLION · Industrial Gases

52W Range₹99 ₹424

Snapshot

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Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Stallion India Fluorochemicals Limited specialises in the debulking, blending, and processing of refrigerants and industrial gases. The company provides a diverse portfolio of fluorochemicals, including HFCs and HFOs, alongside equipment and specialty gases for sectors such as semiconductors, pharmaceuticals, and automotive manufacturing.

Business Model

The company generates revenue by processing and distributing high-value chemical refrigerants and specialty gases to industrial clients. It also captures value through the sale of associated equipment and spares for the air conditioning and refrigeration industry.

Growth Outlook

Growth is driven by increasing demand for advanced refrigerants and specialty gases in the semiconductor and pharmaceutical sectors. The company is well-positioned to benefit from the expansion of the domestic air conditioning and refrigeration market in India.

Key Risks

  • Regulatory Compliance. The company faces stringent environmental regulations regarding the production and handling of fluorochemicals and ozone-depleting substances.
  • Raw Material Price Volatility. Fluctuations in the global prices of chemical feedstocks can significantly impact the company's operating margins.
  • Technological Obsolescence. Rapid shifts toward next-generation, eco-friendly refrigerants may require substantial capital investment to update processing capabilities.

Price

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Key Metrics

P/E

38.8x

Q4 FY26 · standalone

38.8 vs 36.6x5Y avg

EV/EBITDA

25.5x

Q4 FY26 · standalone

25.5 vs 26.0x5Y avg

NET PROFIT MARGIN

9.9%

Q4 FY26 · standalone

+1.1 ppYoY

DEBT TO EQUITY

0.1x

Q4 FY26 · standalone

+0.04xYoY

Peers · Industrial Gases

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Stallion IndiaSTALLION
1,26638.8425.4714.2%11.1%15.1%+107.9%
Linde India Ltd.LINDEINDIA
63,256110.7365.431.8%36.6%14.0%16.4%+5.6%
Ellenbarrie Industrial Gases LtdELLEN
2,85339.3326.0848.7%10.7%13.0%-48.3%
Refex Industries LimitedREFEX
2,69318.4911.28-6.0%16.5%15.8%23.8%-28.6%

As of Q4 FY26

Financials