Gagan Gases Ltd has notified BSE Limited regarding the non-applicability of the Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The company has claimed exemption under specific SEBI regulations based on its capital structure and net worth parameters.

Regulatory Exemption Details

The company has invoked Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which provides exemptions for smaller listed entities. According to this regulation, corporate governance provisions do not apply to listed entities meeting specific financial criteria.

Compliance Communication

The notification was submitted to BSE Limited on April 6, 2026, addressed to the Compliance Department at Phiroze Jeejeebhoy Tower, Mumbai. Company Secretary Anjali Jain, with membership number A41488, signed the communication digitally, confirming the company's exemption status.

Regulatory Framework

The exemption is based on the Annual Secretarial Compliance Report requirements under Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018. This regulation, read with BSE Circular dated May 9, 2019, mandates certain compliance reporting requirements for listed companies.

However, Gagan Gases Ltd has clarified that these requirements do not apply to the company due to its qualification for exemption under the smaller entity provisions of SEBI regulations.

Gagan Gases Limited announced its unaudited financial results for the third quarter of fiscal year 2026, ending December 31, 2025. The company's board of directors approved these results during a meeting held on January 28, 2026, which commenced at 2:00 PM and concluded at 2:40 PM.

Q3FY26 Financial Performance

The company reported mixed results for the quarter, showing recovery from the previous quarter's loss while experiencing year-on-year decline. Net profit for Q3FY26 stood at ₹8.07 lacs, marking a significant sequential improvement from the loss of ₹0.60 lacs recorded in Q2FY26, though this represented a 10.6% decline from ₹9.03 lacs achieved in Q3FY25.

Operational Expenses Analysis

The company's expense management showed varying trends across different categories. Cost of materials consumed decreased to ₹138.94 lacs in Q3FY26 from ₹156.48 lacs in Q3FY25, representing an 11.2% reduction. Employee benefit expenses increased significantly to ₹11.72 lacs from ₹9.42 lacs in the corresponding previous quarter, marking a 24.4% rise.

Nine-Month Performance Overview

The nine-month period ending December 31, 2025, revealed challenging operational conditions for the company. Total revenue from operations declined to ₹421.51 lacs from ₹463.25 lacs in the corresponding nine-month period of the previous year, representing a 9.0% decrease. Net profit for the nine-month period dropped dramatically to ₹0.62 lacs from ₹15.44 lacs in the same period last year.

Tax and Other Financial Details

The company reported no current tax expense for Q3FY26, compared to ₹1.00 lac in Q3FY25. Other income remained minimal at ₹0.00 lacs for the quarter. The paid-up equity share capital remained unchanged at ₹451.85 lacs with a face value of ₹10 per share. Both basic and diluted earnings per share stood at ₹0.18 for Q3FY26.

Regulatory Compliance and Audit

The unaudited financial results were reviewed by the company's audit committee and received approval from the board of directors on January 28, 2026. The results underwent limited review by the statutory auditors, Dilip K. Neema and Associates, Chartered Accountants. The company prepared these results following the procedures outlined in Indian Accounting Standard 34 for interim financial reporting.