Gagan Gases Ltd reported a standalone net profit of ₹1.88 lakh for the quarter ended September 30, 2026, marking a turnaround from a loss of ₹0.60 lakh in the corresponding period last year.

The company’s revenue from operations stood at ₹70.46 lakh, a significant decline from ₹164.67 lakh in Q2FY26. Despite the sharp drop in top-line sales, the company managed to post a profit before tax of ₹1.88 lakh, compared to a pre-tax loss of ₹0.60 lakh in the year-ago quarter.

For the half-year ended September 30, 2026 (H1FY27), Gagan Gases clocked a net profit of ₹5.81 lakh, up from a loss of ₹7.45 lakh in H1FY26. Total income for the half-year was ₹123.60 lakh, down from ₹250.65 lakh in the previous year’s first half.

Financial Performance Snapshot

What the Numbers Show

A divergence between revenue contraction and profitability improvement is evident in the Q2FY27 results. While revenue dropped by approximately 57% YoY, the company swung to profitability due to a substantial reduction in operating costs. Cost of materials consumed fell to ₹49.89 lakh in Q2FY27 from ₹138.88 lakh in Q2FY26, aligning with the lower sales volume. Additionally, other expenses decreased significantly to ₹5.51 lakh from ₹13.07 lakh in the prior year quarter, contributing to the narrow but positive bottom line.

Balance Sheet and Cash Flow

As of September 30, 2026, the company’s total equity stood at ₹350.94 lakh, an increase from ₹345.13 lakh as on March 31, 2026. The cash and cash equivalents position declined to ₹26.98 lakh from ₹39.97 lakh at the end of the previous fiscal year.

Operating activities generated a net cash inflow of ₹13.19 lakh during the half-year, driven by a significant decrease in trade receivables (₹26.29 lakh inflow), which offset the outflow from increased inventory levels (₹13.88 lakh). Investing activities saw a net outflow of ₹26.16 lakh, primarily due to outflows from other long-term assets.

Gagan Gases Ltd shareholders approved the audited financial statements for FY26 and re-appointed key directors during the company's 40th Annual General Meeting held on September 26, 2026. The meeting, chaired by Managing Director Gagan Maheshwary, concluded with the adoption of the profit and loss account and balance sheet as of March 31, 2026.

The board’s report and auditor’s opinion on the financial results were formally adopted by members. This approval marks the completion of the statutory requirements for the fiscal year ended March 31, 2026.

Voting results and shareholder participation

The company disclosed detailed voting results in compliance with Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. A total of 8,830 shareholders were on the record date. Participation included 6 promoters and 25 public shareholders present in person or through proxy, while 15 public shareholders voted via e-voting. No shareholders attended through Video Conferencing.

All three resolutions proposed at the AGM were carried out through e-voting and ballot. The scrutinizer’s report confirmed that no ballot papers were found incomplete or invalid.

Director re-appointments approved

Shareholders voted to re-appoint K.R. Maheshwary (DIN 00786402) as a Director liable to retire by rotation. Additionally, Dinesh Kumar Randhar (DIN 08646283) was re-appointed as an Independent Director for a three-year term commencing September 26, 2026, and ending September 26, 2029. Mr. Randhar is not liable to retire by rotation.

The voting data indicates strong promoter support, with promoters casting 1,785,048 votes via postal ballot in favor of all resolutions. Public non-institutional shareholders cast 93,760 votes, with 99.99% in favor across all items. Public institutions holding 400 shares did not vote.

Voting and procedural details

The company provided remote e-voting facilities to eligible shareholders holding shares as of the cut-off date of September 18, 2026. Voting was open from September 23, 2026, at 10:00 am to September 25, 2026, at 5:00 pm via the Central Depository Services Limited (CDSL) platform. CS Heena Agrawal served as the Scrutiniser to ensure a fair and transparent voting process in accordance with Companies (Management & Administration) Rules, 2014, and SEBI circulars.

The consolidated report on votes cast was submitted by the Scrutiniser within 48 hours of the meeting's conclusion and disseminated to stock exchanges and the company website. The Company Secretary, Anjali Jain, submitted the voting results and scrutinizer reports to BSE Ltd on September 26, 2026.