---
title: "National Oxygen Ltd (NOL) — Share Price, Financials & Analysis"
symbol: "NOL"
company: "National Oxygen Ltd"
canonical: "https://tapetide.com/stocks/NOL"
bse_code: "507813"
sector: "Commodities"
industry: "Chemicals & Petrochemicals"
generated_at: "2026-09-13T18:36:04.154Z"
---

# National Oxygen Ltd (NOL)

Canonical page: https://tapetide.com/stocks/NOL

## Company

- **BSE Code:** 507813
- **Sector:** Commodities
- **Industry:** Chemicals & Petrochemicals
- **Macro Sector:** Commodities
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** nolgroup.com

## About

Incorporated in 1974, National Oxygen Ltd is engaged in the manufacturing of Industrial Gases.[1]

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -4.08%
- The company has delivered a poor sales growth of -10.4% over past five years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 16% | — | — |
| revenue growth | -51% | -21% | -10% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 11.81 | 11.3 | 11.02 | 10.57 | 10.61 | 10.78 | 8.62 | 7.58 | 6.37 | 5.04 | 3.97 | 3.05 |
| Expenses | 11.31 | 11.32 | 10.79 | 10.57 | 10.55 | 11.54 | 10.4 | 8.61 | 6.82 | 5.77 | 5.07 | 4.29 |
| Operating Profit | 0.5 | -0.02 | 0.23 | 0 | 0.06 | -0.76 | -1.78 | -1.03 | -0.45 | -0.73 | -1.1 | -1.24 |
| OPM % | 4.23 | -0.18 | 2.09 | 0 | 0.57 | -7.05 | -20.65 | -13.59 | -7.06 | -14.48 | -27.71 | -40.66 |
| Other Income | 0.12 | 0.06 | 0.26 | 0.06 | 0.08 | 0.07 | 0.07 | 0.05 | 8.37 | 0.11 | 0.35 | 0.24 |
| Interest | 0.41 | 0.42 | 0.46 | 0.43 | 0.46 | 0.42 | 0.28 | 0.28 | 0.3 | 0.36 | 0.48 | 0.46 |
| Depreciation | 0.82 | 0.83 | 0.87 | 0.87 | 0.87 | 0.87 | 0.61 | 0.61 | 0.58 | 0.57 | 0.56 | 0.55 |
| Profit before tax | -0.61 | -1.21 | -0.84 | -1.24 | -1.19 | -1.98 | -2.6 | -1.87 | 7.04 | -1.55 | -1.79 | -2.01 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -0.6 | -1.21 | -0.84 | -1.25 | -1.19 | -1.98 | -2.59 | -1.87 | 7.04 | -1.55 | -1.78 | -2.01 |
| EPS in Rs | -1.25 | -2.52 | -1.67 | -2.48 | -2.36 | -3.93 | -5.14 | -3.71 | 13.96 | -3.07 | -3.53 | -3.99 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 41.36 | 46.21 | 43.93 | 39.76 | 50.61 | 47.11 | 45.26 | 40.58 | 22.96 | 18.43 |
| Expenses | 35.74 | 37.63 | 37.54 | 33.49 | 39.18 | 43.43 | 44.02 | 43.05 | 26.28 | 21.95 |
| Operating Profit | 5.62 | 8.58 | 6.39 | 6.27 | 11.43 | 3.68 | 1.24 | -2.47 | -3.32 | -3.52 |
| OPM % | 13.59 | 18.57 | 14.55 | 15.77 | 22.58 | 7.81 | 2.74 | -6.09 | -14.46 | -19.1 |
| Other Income | 2.19 | 3.42 | 0.27 | 0.4 | 1.44 | 0.59 | 0.5 | 0.28 | 8.88 | 9.07 |
| Interest | 5.9 | 4.9 | 4.8 | 4.48 | 2.15 | 1.79 | 1.64 | 1.59 | 1.41 | 1.6 |
| Depreciation | 3.79 | 3.53 | 3.41 | 3.28 | 3.09 | 3.27 | 3.33 | 3.22 | 2.31 | 2.26 |
| Profit before tax | -1.88 | 3.57 | -1.55 | -1.09 | 7.63 | -0.79 | -3.23 | -7 | 1.84 | 1.69 |
| Tax % | -0.53 | 0 | 0.65 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | -1.87 | 3.56 | -1.57 | -1.1 | 7.63 | -0.79 | -3.23 | -7 | 1.84 | 1.7 |
| EPS in Rs | -3.89 | 7.41 | -3.27 | -2.29 | 15.89 | -1.65 | -6.41 | -13.88 | 3.65 | 3.37 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 | 5.04 | 5.04 | 5.04 |
| Reserves | -11.45 | -13.31 | -9.74 | -11.34 | -12.41 | -4.79 | -5.73 | -6.04 | -13.05 | -11.15 |
| Borrowings | 49.01 | 44.06 | 38.09 | 38.6 | 37.21 | 32.82 | 29.06 | 28.65 | 30.69 | 28.64 |
| Other Liabilities | 6.74 | 6.37 | 6.04 | 6.16 | 6.39 | 6.97 | 6.78 | 6.45 | 8.41 | 5.73 |
| Total Liabilities | 49.1 | 41.92 | 39.19 | 38.22 | 35.99 | 39.8 | 34.91 | 34.1 | 31.09 | 28.26 |
| Fixed Assets | 39.81 | 35.24 | 31.91 | 29.01 | 26.48 | 24.27 | 22.07 | 21.98 | 19.58 | 18.45 |
| CWIP | 0.03 | 0.03 | 0.03 | 0.03 | 0.06 | 0 | 0.14 | 0.81 | 0.18 | 3.3 |
| Investments | 0.01 | 0.11 | 0.17 | 0.19 | 0.21 | 0.1 | 0.05 | 0.08 | 0.33 | 0.16 |
| Other Assets | 9.25 | 6.54 | 7.08 | 8.99 | 9.24 | 15.43 | 12.65 | 11.23 | 11 | 6.35 |
| Total Assets | 49.1 | 41.92 | 39.19 | 38.22 | 35.99 | 39.8 | 34.91 | 34.1 | 31.09 | 28.26 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 4.87 | 8.45 | 7.85 | 4.83 | 6.53 | 11.59 | 2.23 | 0.97 | -0.18 | -1.09 |
| Cash from Investing Activity | 0.71 | 2.68 | 3.12 | -0.39 | -0.7 | 0.4 | -0.62 | -3.69 | -0.21 | 4.55 |
| Cash from Financing Activity | -5.85 | -10.86 | -10.86 | -4.3 | -5.87 | -6.54 | -5.93 | 1.07 | 0.45 | -3.47 |
| Net Cash Flow | -0.27 | 0.28 | 0.11 | 0.14 | -0.04 | 5.46 | -4.32 | -1.66 | 0.07 | -0.01 |
| Free Cash Flow | 4.88 | 11.14 | 10.94 | 4.35 | 5.74 | 11.87 | 1.38 | -2.89 | -0.37 | 3.11 |
| CFO/OP | 106 | 150 | 92 | 76 | 104 | 102 | 62 | 83 | 6 | 31 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 45.41 | 32.92 | 33.33 | 40.71 | 45.9 | 36.35 | 41.37 | 42.74 | 29.32 | 28.3 |
| Cash Conversion Cycle | 45.41 | 32.92 | 33.33 | 40.71 | 45.9 | 36.35 | 41.37 | 42.74 | 29.32 | 28.3 |
| Working Capital Days | -99.21 | -82.34 | -50.24 | -27.83 | -29.38 | 2.45 | 11.47 | -17.02 | -45.33 | -99.2 |
| ROCE % | 2.15 | 5.44 | 15.05 | 9.85 | 10.9 | 27.81 | 3.28 | -5.88 | -21.5 | -21.54 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 58.44% | 58.44% | 63.1% | 67.59% | 69.99% | 69.99% | 69.99% | 69.99% | 71.29% | 69.63% | 65.55% |
| Public | 41.56% | 41.56% | 36.9% | 32.41% | 30.01% | 30.01% | 30% | 30.01% | 28.71% | 30.37% | 34.45% |
| No. of Shareholders | 4396 | 3917 | 3878 | 3699 | 3689 | 5163 | 4794 | 5155 | 5123 | 5031 | 5132 |

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 69.99% | 69.99% | 69.99% | 71.42% | 71.29% | 71.29% | 71.29% | 71.29% | 71.24% | 70.16% | 69.63% | 65.55% |
| Public | 30.01% | 30.01% | 30.01% | 28.59% | 28.72% | 28.72% | 28.71% | 28.72% | 28.77% | 29.84% | 30.37% | 34.45% |
| No. of Shareholders | 4876 | 5049 | 5155 | 5196 | 5081 | 5100 | 5123 | 5081 | 4982 | 4984 | 5031 | 5132 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 5 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 58.08 | Sell |
| EMA (10) | 57.93 | Sell |
| SMA (20) | 58.33 | Sell |
| EMA (20) | 58.11 | Sell |
| SMA (50) | 58.23 | Sell |
| EMA (50) | 59.16 | Sell |
| SMA (100) | 63.24 | Sell |
| EMA (100) | 63.13 | Sell |
| SMA (200) | 72.25 | Sell |
| EMA (200) | 72.87 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 42.76 | Neutral |
| MACD (12,26,9) | -0.22 | Sell |
| Stochastic (14,3,3) | 23.93 | Neutral |
| ADX (14) | 18.02 | Neutral |
| Williams %R (14) | -87.7 | Buy |
| ATR (14) | 3.01 | High Volatility |
| ROC (12) | -2.58 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 39.55 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 8 Aug - Submission of Newspaper Advertisement for the 51st Annual General Meeting (AGM) of the Company to be held on Friday, 28th August, 2026 at 11:30 A.M … | [Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Aug - Submission of Newspaper Advertisement for the 51st Annual General Meeting (AGM) of the Company to be held on Friday, 28th August, 2026 at 11:30 A.M …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f90c6866-f743-4088-bb0e-7f0597995f00.pdf) |
| 8 Aug - Board meeting on 12 August 2026 to approve Q1 FY2027 unaudited financial results. | [Board Meeting Intimation for The Board Meeting To Be Held On Wednesday, 12Th August, 2026 For Approval Of The Unaudited Financial Results Of The Company For The Quarter Ended 30Th June, 2026 8 Aug - Board meeting on 12 August 2026 to approve Q1 FY2027 unaudited financial results.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8bfab734-ff05-42cf-b078-d91db42ef8dd.pdf) |
| 12 Aug - Board approved unaudited Q1 FY2026-27 results on 12 Aug 2026. | [Submission Of Unaudited Financial Results Of The Company For The Quarter Ended 30Th June, 2026 Along With Limited Review Report 12 Aug - Board approved unaudited Q1 FY2026-27 results on 12 Aug 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0a4cb10a-4924-48fc-b302-40cd49e4073c.pdf) |
| 12 Aug - Board approved Q1 FY27 unaudited results; revenue Rs304.5 lakh, net loss Rs60.6 lakh. | [Board Meeting Outcome for Outcome Of The Board Meeting Held On 12Th August 2026 12 Aug - Board approved Q1 FY27 unaudited results; revenue Rs304.5 lakh, net loss Rs60.6 lakh.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a3aa5b5e-346a-4958-af3f-6fd1473b3750.pdf) |
| — | [Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 31 Aug](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2977a296-2909-4a2b-a8cf-17fac26c2a64.pdf) |
| — | [Shareholder Meeting / Postal Ballot-Outcome of AGM 28 Aug](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f4ef0163-be75-48c3-95c3-b79d18a2fd7e.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2026 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/225bc046-7994-47e7-8575-bb09ac3ab542.pdf) |
| from bse | [Annual Report 2026 from bse](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=225bc046-7994-47e7-8575-bb09ac3ab542.pdf) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/61ad6768-81c1-4457-89aa-5535aae835a5.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9d827070-415c-43c1-994f-42af7dd8ca0e.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0148e3c4-f203-4275-a757-cd0a98ebdb19.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/507813/73964507813.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/507813/72211507813.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/507813/65218507813.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/507813/5078130319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/507813/5078130318.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:36:04.154Z.