GAGAN GASES LTD. (GAGAN) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of GAGAN GASES LTD. ₹5.26, price ₹18.83, upside -72.1%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range ₹7.60 – ₹35.97 · fair‑value band ₹3.94 – ₹6.57 · the ₹18.83 price screens above the ₹5.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Gagan Gases Limited engages in the bottling and selling of LPG for commercial and industrial use in the private sector in India. The company operates LPG bottling plant at Pithampur. It is involved in the filling of LPG cylinders for Reliance Petro Marketing Ltd.; and sale of LPG in its own cylinder.
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Gagan Gases Limited engages in the bottling and selling of LPG for commercial and industrial use in the private sector in India. The company operates LPG bottling plant at Pithampur. It is involved in the filling of LPG cylinders for Reliance Petro Marketing Ltd.; and sale of LPG in its own cylinder. The company was incorporated in 1986 and is based in Indore, India.
Stock analysis
GAGAN GASES LTD. (GAGAN) currently trades at ₹18.83, while our model-based Fair Value estimate is ₹5.26, 72.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹10.05 per share, and 0 of the 14 models we run sit above the ₹18.83 price.
Bear case: the Economic Profit group reads lowest at ₹3.02, and 14 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹3.94 (bear) to ₹6.57 (bull), the price of ₹18.83 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Energy sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
GAGAN GASES LTD. reported revenue of ₹60.3M in FY2026 versus ₹29.0M in FY2022, a compound +20.1%/yr. Reported net income was ₹1.4M in FY2026, compounding +25.0%/yr from FY2022.
Key figures
Market cap ₹85.1M (≈ $884K) · P/E ratio 34.2 · P/S ratio 0.79 · EPS (TTM) ₹0.5500 · Net margin 2.3% · Return on equity 4.1% · Return on assets (EBIT) 6.6% · Operating margin 7.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 48% below its 52-week high and 51% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −66% fair-value upside, at −72%, GAGAN screens richer than that median.
Fair Value models
Bear ₹3.94Fair Value ₹5.26Bull ₹6.57
Price ₹18.83 · Upside -72.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.2818 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+6.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+39.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.6%
Start year 2021 (pandemic)
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+39.8%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−6.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.0%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.10% → 3%
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Refining & Marketing · 109 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside−72.1% · Bottom 25%
Profitability
Return on equity (TTM)4.1% · Bottom 25%
Return on assets2.4% · Bottom 25%
Net margin (TTM)4.3% · Above median
Operating margin (TTM)7.3% · Below median
Growth and dividend
Revenue growth−38.2% · Bottom 25%
Balance sheet
Debt / equity0.11× · Below median
Valuation Multiplesvs Oil & Gas Refining & Marketing median · lower = cheaper
P/E (TTM)34.2× · Priciest 25%
P/B2.47× · Pricier than median
P/S (TTM)1.49× · Priciest 25%
EV/EBITDA26.8× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 11
FUTURE (revenue growth)0· sector 100
PAST (return on equity)17· sector 51
HEALTH (low debt)94· sector 85
DIVIDEND (yield)0· sector 68
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is GAGAN GASES LTD. (GAGAN) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹5.26 versus a price of ₹18.83, about −72% upside (overvalued).
What is the fair value of GAGAN?
Our model-based fair value for GAGAN GASES LTD. is ₹5.26 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹18.83.
What is the quality score of GAGAN?
GAGAN GASES LTD. has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for GAGAN GASES LTD. (GAGAN)?
Our model-based price target is the fair value of ₹5.26 (as of Sep 27, 2026) from 14 valuation models. Cautious scenario ₹3.94, optimistic scenario ₹6.57. It is a calculation from audited fundamentals, not an analyst target.
What is the GAGAN GASES LTD. stock forecast for 2026?
Our models put fair value at ₹5.26, about −72% upside versus a price of ₹18.83 (overvalued). Cautious scenario ₹3.94, optimistic scenario ₹6.57. The calculation is refreshed regularly with new filings.
What is the revenue of GAGAN GASES LTD. (GAGAN)?
GAGAN GASES LTD. reported trailing-twelve-month revenue of about ₹57.0M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of GAGAN GASES LTD. (GAGAN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GAGAN GASES LTD. it is ₹5.26 per share (as of Sep 27, 2026), against a price of ₹18.83. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is GAGAN GASES LTD. stock overvalued or undervalued in 2026?
As of Sep 27, 2026, GAGAN trades above its calculated fair value: price ₹18.83, fair value ₹5.26, a gap of about −72% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GAGAN?
No. The price is what the market pays today (₹18.83); the fair value is what the company's own numbers justify (₹5.26). For GAGAN GASES LTD. the two are ₹13.57 per share apart. That gap is exactly why we show both numbers side by side.
How much is GAGAN GASES LTD. worth?
The market values GAGAN GASES LTD. at about ₹85.1M (market capitalisation, as of Sep 27, 2026). Per share that is ₹18.83; our models calculate a fair value of ₹5.26 per share.
What do the bullish and bearish scenarios say about GAGAN?
Our models span a range for GAGAN GASES LTD.: cautious scenario ₹3.94, base ₹5.26, optimistic ₹6.57 per share (as of Sep 27, 2026, price ₹18.83). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GAGAN?
GAGAN GASES LTD. trades at a price-to-earnings ratio of 34.2 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹5.26 is built from several models across several years. Other multiples: P/B 2.5, P/S 1.5, EV/EBITDA 26.8.
How solid is the balance sheet of GAGAN GASES LTD. (GAGAN)?
Balance-sheet figures for GAGAN GASES LTD. (as of Sep 27, 2026): return on equity 4.1%, debt of 0.11 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is GAGAN from its 52-week high?
GAGAN GASES LTD. trades at ₹18.83, about 48% below its 52-week high of ₹35.97 and 51% above the low of ₹12.46 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹5.26 is for.
Which stocks are comparable to GAGAN GASES LTD.?
From the same area (Energy) we also value Reliance Industries Limited, Valero Energy Corporation, Marathon Petroleum Corporation, Phillips 66, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is GAGAN GASES LTD. stock attractive at the current price?
The data as of Sep 27, 2026: price ₹18.83, calculated fair value ₹5.26 (−72%), Quality Score 61/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GAGAN calculated?
We run GAGAN GASES LTD. through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹5.26, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. GAGAN GASES LTD. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of GAGAN GASES LTD. (GAGAN)?
The closing price on Oct 1, 2026 was ₹18.83. Our model-based fair value is ₹5.26, about −72% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GAGAN GASES LTD. right now?
The price sits above even our optimistic bull case (₹6.57). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of GAGAN GASES LTD.
How large is the market capitalisation of GAGAN GASES LTD. (GAGAN)?
The market capitalisation of GAGAN GASES LTD. is ₹85.1M (≈ $884K). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of GAGAN GASES LTD. (GAGAN)?
The price-to-sales ratio of GAGAN GASES LTD. is 0.79 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of GAGAN GASES LTD. (GAGAN)?
Earnings per share at GAGAN GASES LTD. are ₹0.5500 (price ÷ EPS = P/E 34.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of GAGAN GASES LTD. (GAGAN)?
The net margin of GAGAN GASES LTD. is 2.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of GAGAN GASES LTD. (GAGAN)?
The return on equity (ROE) of GAGAN GASES LTD. is 4.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of GAGAN GASES LTD. (GAGAN)?
On an EBIT basis the return on assets of GAGAN GASES LTD. is 6.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of GAGAN GASES LTD. (GAGAN)?
The operating margin of GAGAN GASES LTD. is 7.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at GAGAN GASES LTD. (GAGAN)?
Revenue at GAGAN GASES LTD. is growing −38.2% versus a year earlier (3y avg +39.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at GAGAN GASES LTD. (GAGAN)?
Earnings per share at GAGAN GASES LTD. are growing +20.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does GAGAN GASES LTD. (GAGAN) generate?
The free cash flow of GAGAN GASES LTD. is −₹1.3M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does GAGAN GASES LTD. (GAGAN) carry?
The net debt of GAGAN GASES LTD. is ₹507K (fiscal year 2024). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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