About Gagan Gases Limited.
Data last updated:
Gagan Gases Limited. is a public limited company based in Indore, Madhya Pradesh, India. It operates in the industrial and specialty gases segment of the chemicals and materials sector. It was incorporated on 06 March 1986 and has been in existence for over 40 years.
The company is registered with the Registrar of Companies (ROC), Gwalior, under CIN L24111MP1986PLC004228. Its GSTIN is 23AAACG6010F1ZC (Madhya Pradesh). It is a listed company as per MCA records. Its shares are listed on BSE: 524624.
The company has an authorised share capital of ₹7.5 Cr and a paid-up capital of ₹4.52 Cr. It is led by directors including Gagan Maheshwary (Managing Director) and Balwinder Singh Rana (Whole-Time Director).
Its last annual general meeting (AGM) was held on 27 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 40 Scheme No 78 Part 2 Vijaynagar, Indore, Madhya Pradesh, India – 452010.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹6.03 Cr, a growth of 6% compared to the previous year. For the same year it recorded a net profit of ₹13 Lakh (net margin 2.2%) and EBITDA of ₹21 Lakh (EBITDA margin 3.5%). The net worth stands at ₹3.45 Cr (up 4.2% YoY). Total assets are valued at ₹3.9 Cr (up 3.7% YoY).
The company has about 7 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Gagan Gases. As per MCA filings, the company has satisfied charges of ₹1.48 Cr on record. Court records list 1 case involving the company, including 1 filed against it. The company has 21 deals on record (21 market trades); the latest was in March 2026.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website gagangases.com.
Company details
Contact details
Gagan Gases Limited.'s registered office is in Indore, Madhya Pradesh. Its website is gagangases.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address40 Scheme No 78 Part 2 Vijaynagar, Indore, Madhya Pradesh, India – 452010
- IndustryChemicals and Materials, Industrial & Specialty Gases
To see the full contact details of Gagan Gases Limited., buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Gagan Gases Limited operates one associated brand: Gagan Gases. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Bottled LPG is distributed for commercial applications in Madhya Pradesh. | gagangases.com |
Business activity
The main business activity of Gagan Gases Limited is manufacturing. In detail, this covers coke and refined petroleum products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C5 | Coke and refined petroleum products |
To see the full business activity and turnover split of Gagan Gases Limited., buy the company report.
Financials of Gagan Gases Limited.
FY 2025-26 filings availableGagan Gases Limited. reported revenue of ₹6.03 Cr (up 6% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 6.03 | 5.69 | 2.13 | 2.21 | 2.90 | 2.17 | 1.25 |
| Revenue growth | +6.0% | +167.1% | -3.6% | -23.8% | +33.6% | +73.6% | - |
| EBITDA | 0.21 | 0.34 | 0.16 | 0.21 | 0.38 | 0.27 | 0.10 |
| EBITDA margin | +3.5% | +6.0% | +7.5% | +9.5% | +13.1% | +12.4% | +8.0% |
| Profit before tax | 0.18 | 0.35 | 0.08 | 2.45 | 0.27 | 0.15 | 0.05 |
| Net profit | 0.13 | 0.26 | 0.05 | 0.13 | 0.05 | 0.02 | 0.05 |
| Net profit margin | +2.2% | +4.6% | +2.4% | +5.9% | +1.7% | +0.9% | +4.0% |
| EPS (₹) | 0.31 | 0.59 | 0.13 | 4.13 | 0.13 | 0.07 | 0.11 |
| Balance sheet | |||||||
| Total assets | 3.90 | 3.76 | 3.49 | 3.41 | 1.76 | 1.88 | 1.73 |
| Net worth | 3.45 | 3.31 | 3.05 | 2.99 | 1.12 | 1.06 | 1.24 |
| Total debt | 0.39 | 0.39 | 0.39 | 0.37 | 0.48 | 0.65 | 0.33 |
| Cash & bank | 0.40 | 0.50 | 0.34 | 0.15 | 0.20 | 0.31 | 0.22 |
| Net working capital | 0.94 | 0.76 | 0.61 | 0.41 | 0.93 | 0.84 | 0.76 |
| Cash flow | |||||||
| Cash from operations | (0.13) | 0.26 | 0.09 | (0.03) | 0.11 | 0.28 | (0.28) |
| Cash from investing | 0.06 | (0.07) | 0.12 | 0.13 | 0.01 | 0.01 | 0.04 |
| Cash from financing | (0.03) | (0.03) | (0.02) | (0.15) | (0.23) | (0.20) | 0.29 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.70 | 0.53 | 1.81 | 1.71 | 1.65 | 0.86 | 1.05 | 1.86 |
| Revenue growth (YoY) | -57.6% | -38.4% | +72.4% | -8.1% | +15.4% | -35.8% | - | - |
| Other income | 0.00 | 0.00 | 0.06 | 0.00 | 0.00 | 0.00 | 0.11 | 0.00 |
| Total expenses | 0.67 | 0.48 | 1.65 | 1.61 | 1.64 | 0.91 | 0.93 | 1.75 |
| EBITDA | 0.03 | 0.05 | 0.16 | 0.10 | 0.01 | (0.05) | 0.12 | 0.11 |
| EBITDA margin | +4.3% | +9.4% | +8.8% | +5.8% | +0.6% | -5.8% | +11.4% | +5.9% |
| Depreciation | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Interest | 0.00 | 0.00 | 0.03 | 0.00 | 0.00 | 0.00 | 0.03 | 0.00 |
| Profit before tax | 0.02 | 0.04 | 0.18 | 0.08 | (0.01) | (0.07) | 0.18 | 0.09 |
| Tax | 0.00 | 0.00 | 0.05 | 0.00 | 0.00 | 0.00 | 0.07 | 0.01 |
Financial Statements
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.70 | 0.53 | 1.81 | 1.71 | 1.65 | 0.86 | 1.05 | 1.86 |
| Revenue growth (YoY) | -57.6% | -38.4% | +72.4% | -8.1% | +15.4% | -35.8% | - | - |
| Other income | 0.00 | 0.00 | 0.06 | 0.00 | 0.00 | 0.00 | 0.11 | 0.00 |
| Total expenses | 0.67 | 0.48 | 1.65 | 1.61 | 1.64 | 0.91 | 0.93 | 1.75 |
| EBITDA | 0.03 | 0.05 | 0.16 | 0.10 | 0.01 | (0.05) | 0.12 | 0.11 |
| EBITDA margin | +4.3% | +9.4% | +8.8% | +5.8% | +0.6% | -5.8% | +11.4% | +5.9% |
| Depreciation | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Interest | 0.00 | 0.00 | 0.03 | 0.00 | 0.00 | 0.00 | 0.03 | 0.00 |
| Profit before tax | 0.02 | 0.04 | 0.18 | 0.08 | (0.01) | (0.07) | 0.18 | 0.09 |
| Tax | 0.00 | 0.00 | 0.05 | 0.00 | 0.00 | 0.00 | 0.07 | 0.01 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 6.03 | 5.69 | 2.13 | 2.21 | 2.90 | 2.17 | 1.25 |
| Revenue growth | +6.0% | +167.1% | -3.6% | -23.8% | +33.6% | +73.6% | - |
| Other income | 0.06 | 0.11 | 0.03 | 2.36 | 0.01 | 0.02 | 0.02 |
| Total expenses | 5.82 | 5.35 | 1.97 | 2.00 | 2.52 | 1.90 | 1.15 |
| Employee cost | 0.33 | 0.18 | 0.23 | 0.16 | 0.15 | 0.12 | 0.29 |
| EBITDA | 0.21 | 0.34 | 0.16 | 0.21 | 0.38 | 0.27 | 0.10 |
| EBITDA margin | +3.5% | +6.0% | +7.5% | +9.5% | +13.1% | +12.4% | +8.0% |
| Depreciation | 0.06 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.06 |
| Interest | 0.03 | 0.03 | 0.04 | 0.05 | 0.05 | 0.07 | 0.01 |
| Profit before tax | 0.18 | 0.35 | 0.08 | 2.45 | 0.27 | 0.15 | 0.05 |
| Tax | 0.05 | 0.09 | 0.03 | 0.59 | 0.22 | 0.13 | 0.00 |
| Net profit | 0.13 | 0.26 | 0.05 | 0.13 | 0.05 | 0.02 | 0.05 |
| Net profit margin | +2.2% | +4.6% | +2.4% | +5.9% | +1.7% | +0.9% | +4.0% |
| EPS (₹) | 0.31 | 0.59 | 0.13 | 4.13 | 0.13 | 0.07 | 0.11 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 4.52 | 4.52 | 4.52 | 4.52 | 4.52 | 4.52 | 4.52 |
| Reserves & surplus | (1.07) | (1.21) | (1.47) | (1.53) | (3.40) | (3.46) | (3.28) |
| Shareholders' funds (net worth) | 3.45 | 3.31 | 3.05 | 2.99 | 1.12 | 1.06 | 1.24 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.18 | 0.00 |
| Unsecured loans | 0.39 | 0.39 | 0.39 | 0.37 | 0.48 | 0.47 | 0.33 |
| Total debt | 0.39 | 0.39 | 0.39 | 0.37 | 0.48 | 0.65 | 0.33 |
| Total liabilities | 3.90 | 3.76 | 3.49 | 3.41 | 1.76 | 1.88 | 1.73 |
| Assets | |||||||
| Gross block | 11.00 | 11.00 | 10.99 | 10.99 | 11.28 | 11.28 | 11.03 |
| Net block | 0.49 | 0.55 | 0.60 | 0.67 | 0.85 | 0.93 | 0.71 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 2.44 | 2.45 | 2.27 | 2.36 | 0.00 | 0.00 | 0.00 |
| Inventories | 0.09 | 0.00 | 0.15 | 0.13 | 0.38 | 0.09 | 0.08 |
| Sundry debtors | 0.57 | 0.28 | 0.21 | 0.22 | 0.38 | 0.51 | 0.48 |
| Cash & bank balances | 0.40 | 0.50 | 0.34 | 0.15 | 0.20 | 0.31 | 0.22 |
| Loans & advances | 0.04 | 0.10 | 0.03 | 0.59 | 0.09 | 0.04 | 0.05 |
| Total current assets | 1.10 | 0.88 | 0.73 | 1.09 | 1.05 | 0.95 | 0.83 |
| Total current liabilities | 0.16 | 0.12 | 0.12 | 0.68 | 0.12 | 0.11 | 0.07 |
| Net working capital | 0.94 | 0.76 | 0.61 | 0.41 | 0.93 | 0.84 | 0.76 |
| Total assets | 3.90 | 3.76 | 3.49 | 3.41 | 1.76 | 1.88 | 1.73 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.50 | 0.34 | 0.15 | 0.20 | 0.31 | 0.22 | 0.17 |
| Net cash from operating activities | (0.13) | 0.26 | 0.09 | (0.03) | 0.11 | 0.28 | (0.28) |
| Net cash from investing activities | 0.06 | (0.07) | 0.12 | 0.13 | 0.01 | 0.01 | 0.04 |
| Net cash from financing activities | (0.03) | (0.03) | (0.02) | (0.15) | (0.23) | (0.20) | 0.29 |
| Net change in cash | (0.10) | 0.16 | 0.20 | (0.05) | (0.12) | 0.09 | 0.05 |
| Closing cash | 0.40 | 0.50 | 0.34 | 0.15 | 0.20 | 0.31 | 0.22 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +6.0% | +167.1% | -3.6% | -23.8% | +33.6% | +73.6% | - |
| EBITDA growth | -38.2% | +112.5% | -23.8% | -44.7% | +40.7% | +170.0% | - |
| PBT growth | -48.6% | +337.5% | -96.7% | +807.4% | +80.0% | +200.0% | -70.6% |
| Net income growth | -50.0% | +420.0% | -61.5% | +160.0% | +150.0% | -60.0% | - |
| Revenue CAGR (3Y) | +39.7% | +25.2% | -0.6% | +20.9% | +71.0% | +65.4% | +29.2% |
| EBITDA CAGR (3Y) | 0.0% | -3.6% | -16.0% | +28.1% | +23.9% | +89.0% | -16.2% |
| Profitability & leverage | |||||||
| Net income margin | +2.2% | +4.6% | +2.4% | +84.2% | +1.7% | +0.9% | +4.0% |
| Return on capital employed | +4.4% | +7.7% | +2.6% | +4.2% | +6.1% | +4.4% | +1.2% |
| Return on net worth | +3.1% | +6.0% | +1.3% | +3.1% | +1.3% | +0.7% | +1.1% |
| Debt / equity | 0.12 | 0.12 | 0.13 | 0.21 | 0.52 | 0.43 | 0.15 |
| Long-term debt / equity | 0.12 | 0.12 | 0.13 | 0.21 | 0.52 | 0.43 | 0.15 |
| Interest cover | 20.00 | 11.11 | 44.44 | 35.71 | 16.13 | 35.00 | 25.00 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.55 | 0.52 | 0.19 | 0.20 | 0.26 | 0.19 | 0.11 |
| Inventory turnover | 134.00 | 75.87 | 15.21 | 8.67 | 12.34 | 25.53 | 31.25 |
| Debtors turnover | 14.19 | 23.22 | 9.91 | 7.37 | 6.52 | 4.38 | 3.73 |
| EPS (₹) | 0.31 | 0.59 | 0.13 | 4.13 | 0.13 | 0.07 | 0.11 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 7.64 | 7.33 | 6.74 | 6.61 | 2.48 | 2.35 | 2.74 |
To see the full year-wise statements and ratios of Gagan Gases Limited., buy the company report.
Board of directors of Gagan Gases Limited.
Gagan Gases Limited has 5 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Balwinder Singh Rana | Whole-Time Director | 18 Jan 2018 | 8 Years 9 Months | Current |
| Usha Shrivastava | Director | 17 Oct 2022 | 4 Years 0 Months | Current |
| Gagan Maheshwary Also directs: Gagan Investment Private Limited | Managing Director | 22 Aug 2016 | 10 Years 2 Months | Current |
| Kul Rattan Maheshwary Also directs: Gagan Investment Private Limited | Director | 01 Nov 1996 | 30 Years 0 Months | Current |
| Dinesh Kumar Randhar | Director | 25 Dec 2019 | 6 Years 10 Months | Current |
Auditor
Gagan Gases Limited. is audited by DILIP K. NEEMA &ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| DILIP K. NEEMA &ASSOCIATES | FY 2023 | 005279C |
Shareholding
Shareholding for the quarter ended Mar 2026: promoters hold 38.80%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 61.20%.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | |
|---|---|---|---|---|
| Promoters | 38.80% | 39.00% | 39.00% | 38.90% |
| Public | 61.20% | 61.00% | 61.00% | 61.10% |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 15 May 2000 | 90208648 | Dena Bank | ₹25 Lakh | Satisfied | |
| 18 Oct 1999 | 90203620 | Dena Bank | ₹50 Lakh | Satisfied | |
| 06 Mar 1999 | 90203558 | Dena Bank | ₹40 Lakh | Satisfied | |
| 31 Mar 1998 | 90208193 | Dena Bank | ₹33.29 Lakh | Satisfied |
To see the full charge records of Gagan Gases Limited., buy the company report.
Total charge records: 4 View all charges
Deals & funding
Gagan Gases Limited. has 21 deals on record (21 market trades); the latest was in March 2026.
Deals on record (5 of 21)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2026 | Market trade | ₹11.3 Lakh | Buyer: Maple Leaf Advisory Private Limited Seller: Maple Leaf Advisory Private Limited |
| Mar 2026 | Market trade | ₹11.8 Lakh | Buyer: Maple Leaf Advisory Private Limited Seller: Maple Leaf Advisory Private Limited |
| May 2021 | Market trade | ₹17 Lakh | Buyer: Alpha Leon Enterprises LLP Seller: Alpha Leon Enterprises LLP , 2 individuals |
| May 2021 | Market trade | ₹6.6 Lakh | Buyer: Alpha Leon Enterprises LLP Seller: Amit Vaish (Huf), Alpha Leon Enterprises LLP |
| Dec 2007 | Market trade | ₹13.1 Lakh | Buyer: Bijal Madhani Huf Seller: Arcadia Share and Stock Brokers Private Limited , 2 individuals |
To see the full deal history of Gagan Gases Limited., buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Gagan Gases Limited. has 1 court case on record: 1 filed against it. All case is disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 1 | 0 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Indore, Madhya Pradesh | Court case (RCS B) | Filed against the company by an individual | Disposed |
To see the full case history of Gagan Gases Limited., buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Gagan Gases Limited.; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Gagan Gases Limited. has a workforce of 7 employees on its EPFO records as of Mar 28, 2024, across 1 active EPFO establishment.
GST
Gagan Gases Limited has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 23AAACG6010F1ZC | Madhya Pradesh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Gagan Gases Limited., buy the company report.
Recent activity
Gagan Gases Limited. has 22 board changes on record since 1986: 14 appointments and 8 cessations. The latest: Kalyan Prasad Maheshwari ceased to be Director on 10 Aug 2023.
21 earlier events are in the company report.
Frequently asked questions
Gagan Gases Limited is an active public limited company based in Indore, Madhya Pradesh, India. The company works in industrial and specialty gases, within the chemicals and materials industry. It was incorporated on 06 March 1986 (40+ years old) and is registered under CIN L24111MP1986PLC004228. Listed on BSE: 524624.
Gagan Gases Limited reported revenue of ₹6.03 Cr for FY 2025-26 (up 6% YoY) based on standalone financials.
Gagan Gases Limited has 5 current directors:
- Gagan Maheshwary - Managing Director
- Balwinder Singh Rana - Whole-Time Director
- Usha Shrivastava - Director
- Kul Rattan Maheshwary - Director
- Dinesh Kumar Randhar - Director
The latest financial statements of Gagan Gases Limited on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 27 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Gagan Gases Limited is 23AAACG6010F1ZC, registered in Madhya Pradesh.
The CIN (Corporate Identification Number) of Gagan Gases Limited is L24111MP1986PLC004228. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Gagan Gases Limited is a listed company as per MCA records. Its shares are listed on BSE (code: 524624).
Gagan Gases Limited has 1 court case on record: 1 filed against it.
Gagan Gases Limited was incorporated on 06 March 1986, making it 40+ years old. It is registered with the Registrar of Companies, Gwalior.
Gagan Gases Limited has 21 deals on record (21 market trades); the latest was in March 2026.
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