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    Process industries

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    Chemicals: specialty
National Oxygen Limited

National Oxygen Limited

BBSE:NOL
57.85
INR
-0.35
(-0.60%)
3.37EPS
14.56P/E
247.48MMarket Cap
National Oxygen Limited
BSE:NOL
(Bombay Stock Exchange)

Recent

price

57.85

P/E

ratio

14.56

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
INR
60.38
68.97
51.24
53.73
58.58
69.09
75.15
86.13
96.22
91.48
82.8
105.38
98.11
89.76
80.48
45.54
36.53
Revenue per Share
2.02
2.53
1.23
-10.95
-22.55
-11.84
-11.27
-3.89
7.42
-3.26
-2.28
15.88
-1.65
-6.41
-13.89
3.64
3.37
Basic EPS, GAAP
0.64
9.41
-42.54
-12.63
-0.1
3
10.07
17.61
15.45
8.96
11.95
22.17
2.86
-5.83
-0.74
-11.32
- -
Free Cash Flow per Basic Share
1.17
1.16
0.88
1.17
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
44.68
55.67
47.49
36.54
12.78
-2.69
-13.85
-17.71
-10.28
-13.61
-15.84
0.03
-1.94
-1.98
-15.88
-12.11
- -
Book Value per Share
44.68
54.99
47.01
36.15
12.76
-2.7
-13.85
-17.71
-10.28
-13.61
-15.84
-0.03
-1.99
-2.02
-15.91
-12.12
- -
Tangible Book Value per Share
3
3
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
Basic Weighted Avg Shares
188
215
246
258
281
332
361
414
462
439
398
506
471
453
406
230
184
Sales/Revenue/Turnover
15.68
11.87
6.14
-15.5
-20.01
-3.13
1.93
4.72
10.97
6.79
7.76
17.05
0.88
-4.61
-14.02
-24.52
-31.34
Operating Margin (%)
32
36
35
39
42
39
39
38
35
34
33
31
33
33
32
23
23
Depreciation Expense
6
8
6
-53
-108
-57
-54
-19
36
-16
-11
76
-8
-32
-70
18
17
Net Income, GAAP
40
15.72
0.08
- -
- -
- -
- -
- -
0.09
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
3.35
3.66
2.39
-20.37
-38.5
-17.13
-15
-4.52
7.71
-3.56
-2.75
15.07
-1.68
-7.14
-17.25
8
9.23
Profit Margin (%)
23
4
-32
-74
-115
-87
-93
-85
-55
-23
-22
68
36
-16
-45
-57
- -
Working Capital
145
85
220
259
303
374
369
336
295
327
192
184
147
138
151
139
- -
LT Debt
139
173
228
175
61
-13
-66
-85
-49
-65
44
- -
-9
-10
-80
-61
- -
Total Equity
2.23
2.87
1.62
- -
- -
- -
- -
- -
25.73
- -
- -
39.32
- -
- -
- -
84.77
- -
Return on Invested Capital (%)
6.27
8.94
1.62
- -
- -
- -
- -
- -
24.86
- -
- -
38.15
- -
- -
- -
23.05
- -
Return on Capital (%)
4.57
5.04
2.93
-26.05
-91.45
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
59
- -
LT Borrowings
- -
139
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
5
5
5
Market Capitalization
379
288
247

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
44
- -
Cash, Cash Equivalents & STI
- -
4
- -
Accounts Receivable, Net
- -
18
- -
Inventories
- -
6
- -
Total Current Liabilities
- -
101
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
59
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-518.42%
-1,089.97%
-23.77%
Free Cash Flow
131.26%
204.57%
1,426.18%
Net Income, GAAP
-114.25%
-121.54%
-126.23%
Sales/Revenue/Turnover
-1.66%
-7.46%
-43.42%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
106
106
108
86
406
2026
76
64
50
40
230
2027
30
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
-2.47
-2.35
-3.92
-5.16
-13.89
2026
-3.17
13.96
-3.08
-3.53
3.64
2027
-3.98
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -
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Business
National Oxygen Limited (NOL.BO), founded in 1974 and headquartered in Chennai, Tamil Nadu, India, manufactures and supplies industrial gases in liquid and gaseous forms primarily to industries, hospitals, government workshops, public sector units, steel, pharmaceutical, petrochemical, refrigeration, shipbuilding, fabrication, space, and marine sectors across India. The company produces liquid and gaseous oxygen, liquid and gaseous nitrogen, medical-grade oxygen (liquid and gas), high-purity nitrogen gas, industrial argon gas, and dissolved acetylene gas; its production capacity includes 2500 cubic meters per hour of oxygen and nitrogen gases from facilities in Pondicherry and Tamil Nadu, plus 200,000 cubic meters per annum of dissolved acetylene. Manufacturing operations feature air separation units, including a 55 TPD ASU commissioned in 2013 at SIPCOT Perundurai, Erode District, Tamil Nadu, complemented by a 1.65 MW windmill installed in 2005 at Dhule, Maharashtra, for energy support. NOL maintains group affiliations with ECA Gases LLP for acetylene production, Pondicherry Agro Foods Pvt. Ltd. for flour and spice milling, and Saraf Housing Development Pvt. Ltd. for real estate. Recent financial performance reflects challenges, with net sales declining to Rs 40.58 crore for the year ended March 2025 (down 10.34% year-over-year) and quarterly net losses reported through September 2025 amid reduced demand; no major acquisitions, partnerships, funding rounds, or new product launches have been announced in 2024 or 2025, maintaining focus on core gas production and supply operations.