BSE: 509910
The Southern Gas Limited
Manufactures and trades gases as a single reportable business segment in the domestic market, with operations across Karnataka, Kerala, and a registered office in Margao, Goa. Revenue of Rs. 36.84 crore in FY26 grew 3.2% year-on-year while net profit of Rs. 2.70 crore rose about 49%, supported by lower raw material and employee costs. Materials account for 36.5% of revenue, followed by employee costs at 19.3% and other operating expenses at 23.9%, with depreciation at 4.1% and capex at 4.0% of revenue. The company carries no debt on its books and is a very small enterprise with equity capital of Rs. 22.50 lakhs. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Gases manufacturing and trading (100%). Small, single-segment, debt-free domestic gases manufacturer and trader
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 42 | 36 | 36 | 36 | 37 |
| EBITDA (ex other income) | 5 | 2 | 3 | 3 | 4 |
| margin % | 11.8 | 6.0 | 9.8 | 8.3 | 11.1 |
| Owners' profit | 3 | 1 | 2 | 2 | 3 |
| EPS, as reported (₹) | 1209.28 | 345.12 | 832.46 | 779.20 | 1259.15 |
| ROE % · ROCE % | 13.2 · 17.9 | 3.9 · 5.4 | 8.0 · 10.4 | 7.4 · 9.4 | 10.0 · 12.9 |
| Debt / equity (x) | 0.03 | 0.02 | 0.01 | 0.00 | 0.00 |
| Cash from operations | 4 | 2 | 2 | 3 | 4 |
| Capex | (2) | (2) | (2) | (3) | (1) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8 | 8 | 10 | 9 | 9 | 9 | 9 | 9 |
| Profit before tax | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Net profit | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 1 |
| EPS (₹) | 158.73 | 121.64 | 335.33 | 155.25 | 209.47 | 414.12 | 288.97 | 346.60 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TATA CHEMICALS LTD | 15,264 | — | 0.69 | 138.7 | (7.7) | (5.0) | 7.4 | 14.4 |
| DEEPAK FERTILIZERS & PETR | 14,972 | 15.2 | 2.01 | 11.2 | 9.9 | 8.4 | 14.6 | 26.1 |
| GUJ NAR VAL FER & CHEM L | 7,504 | 7.2 | 0.82 | 5.4 | 8.9 | 10.3 | 8.7 | 22.1 |
| TANFAC INDUSTRIES LTD. | 6,785 | 55.5 | 18.18 | — | 18.8 | 24.3 | — | 16.0 |
| GUJARAT ALKALIES & CHEM | 4,019 | 60.5 | 0.77 | 8.5 | (0.0) | 0.7 | 12.4 | 18.4 |
| GHCL LIMITED | 3,630 | 7.9 | 1.02 | 4.8 | 13.3 | 16.6 | 1.1 | 23.9 |
| GRAUER & WEIL IND LTD | 3,537 | 21.6 | 3.27 | 14.4 | 15.2 | 19.2 | 14.5 | 20.4 |
| J.G.CHEMICALS LIMITED | 2,206 | 29.4 | 4.08 | 22.4 | 12.7 | 16.9 | — | 11.5 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 0.0 | 17.1 | 1 of 50 | 100% |
| P/B | 0.0 | 1.3 | 1 of 60 | 100% |
| ROCE | 12.9 | 6.0 | 16 of 62 | 75% |
| ROE | 10.0 | 5.0 | 19 of 60 | 70% |
| Debt / Equity | 0.0 | 0.2 | 2 of 60 | 85% |
| EBITDA margin | 13.4 | 13.3 | 27 of 58 | 54% |
| Revenue growth | 8.3 | 6.7 | 26 of 54 | 53% |
| Profit growth | 73.5 | 21.0 | 24 of 64 | 64% |
| Market cap | 0 | 104 | 66 of 66 | 0% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board meeting set to approve September 2026 quarterly results | results | low | — | — |
| 9 Oct 2026 · Routine SEBI Regulation 74(5) compliance certificate filed | compliance | minimal | — | — |
| 29 Sept 2026 · 62nd AGM: All 4 resolutions approved with 100% votes in favour | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · 62nd AGM held on Sep 28; dividend declared, directors approved | board shareholder meetings | low | — | — |
| 28 Sept 2026 · 62nd AGM held; all 4 resolutions passed including final dividend | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Trading window closed from Oct 1, 2026 until Q2 results are declared | compliance | minimal | — | — |
| 5 Sept 2026 · 62nd AGM notice published; Rs 5 dividend proposed, e-voting Sep 25-27 | compliance | minimal | — | — |
| 4 Sept 2026 · 62nd AGM on Sept 28, 2026; Rs 60 per share final dividend proposed | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Record Date and Book Closure for Dividend and 62nd AGM | corporate actions | high | — | — |
| 4 Sept 2026 · 62nd AGM Notice and FY2025-26 Annual Report filed | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.