Tipsheet
What matters at India’s listed companies
Notes / Sector

Industrial Gases & Fuels

17 recent notes from companies in this sector. 7 companies tracked.

Anchor companies · by market cap
Recent activity
Fri · 05 Jun
8
Credit · Industrial Gases & Fuels

Confidence Petroleum promoter pledges 7.86% of equity for working capital

A single transaction lifted total promoter group encumbrance from under 1% to nearly 9% of the company's equity.

CONFIPET Small cap 10:39 AM
Wed · 03 Jun
8
Industrial Gases & Fuels

BW LPG sells all 8.5% of Confidence Petroleum, ends partnership

The global LPG shipping major has fully exited its equity stake after recently dissolving its domestic joint venture with the small-cap Indian firm.

CONFIPET Small cap 12:33 PM
Sat · 30 May
5
Earnings · Industrial Gases & Fuels

Hilltone posts first profit in two years as revenue doubles

A routine filing shows the nano-cap turning a ₹15.33 lakh profit on revenue that climbed to ₹1,472.81 lakhs. The numbers were already anticipated.

HILLTONE Micro cap 5:12 PM
Wed · 27 May
6
Concalls · Industrial Gases & Fuels

Refex Industries delays demerger and resets margin guidance

Management pushed back the mobility business spin-off by three months and clarified that previous margin targets were net profit, not EBITDA.

REFEX Small cap 1:53 PM
Tue · 26 May
6
Earnings · Industrial Gases & Fuels

Rajasthan Cylinders reports zero revenue as manufacturing operations cease

The company posted a full-year loss of ₹101.49 lakhs while its auditor flagged material uncertainty regarding its status as a going concern.

RCCL Micro cap 6:57 PM
5
Earnings · Industrial Gases & Fuels

Rajasthan Cylinders & Containers files routine annual results

The nano-cap company released its audited financial results for the year ended March 31, 2026, in a scheduled compliance update.

RCCL Micro cap 6:45 PM
6
Earnings · Industrial Gases & Fuels

Ellenbarrie posts 9% gas-segment growth, flags argon price recovery

Core EBITDA margin hit 40% after adjusting for ₹46M in one-offs. New capacity starts next month.

ELLEN Small cap 4:12 PM
6
Earnings · Industrial Gases & Fuels

Refex profit rises 67% in Q4 as wind energy deliveries kick in

Full-year earnings climbed 35% on improved ash-handling margins and the start of wind turbine sales. Revenue dipped 10% as the company shifted focus.

REFEX Small cap 3:29 PM
5
Earnings · Industrial Gases & Fuels

Refex Industries posts 35% annual profit growth to ₹247 crore

The company reported a 67% jump in Q4 profit, meeting market expectations for the fiscal year ended March 31, 2026.

REFEX Small cap 12:58 PM
6
Earnings · Industrial Gases & Fuels

Refex Industries profit jumps 35% as margins widen

Refex Industries reported a standalone net profit of ₹247.19 crore for FY26. Revenue dipped slightly to ₹2,039 crore.

REFEX Small cap 12:44 PM
Mon · 25 May
6
Industrial Gases & Fuels

Ellenbarrie trims growth target after project unit runs out of spare capacity

Management guides for a 20% revenue CAGR, not 20-25%, as the project engineering division stops taking external work. A new power deal should cut costs by 55-60%.

ELLEN Small cap 5:38 PM
5
Earnings · Industrial Gases & Fuels

National Oxygen swings to profit on land sale, but core operations are gone

A ₹812 lakh land sale flips the bottom line, but the company has shut its only plant.

NOL Micro cap 3:04 PM
Fri · 22 May
6
Earnings · Industrial Gases & Fuels

Ellenbarrie Industrial Gases' profit jumps 25% in first full year post-IPO

Revenue grew 9.3% for the year ended March 2026, with earnings per share rising to ₹7.54 from ₹6.36.

ELLEN Small cap 6:57 PM
Thu · 21 May
5
Earnings · Industrial Gases & Fuels

GAIL's full-year results confirm previously flagged profit decline

Audited reports for FY26 formalize a standalone net profit of ₹6,968 crore, down from ₹11,312 crore in FY25.

GAIL Mega cap 7:44 PM
6
Earnings · Industrial Gases & Fuels

GAIL net profit drops 38% after supply disruptions and client provisions

A force majeure by Petronet LNG and a ₹675 cr provision hit bottom-line growth, despite revenue remaining steady at ₹1.39 lakh crore.

GAIL Mega cap 7:07 PM
6
Earnings · Industrial Gases & Fuels

GAIL profit drops 38% as LNG disruption hits volumes, Nagarjuna provision bites

FY26 net profit fell to ₹6,968 crore. March sales and transmission volumes dropped ~30% after Petronet declared force majeure.

GAIL Mega cap 6:59 PM
6
Earnings · Industrial Gases & Fuels

GAIL profit drops 38% as LNG shock and Nagarjuna provision hit

FY26 standalone net profit fell to ₹6,968 crore after a March force majeure cut volumes and a large provision dented earnings.

GAIL Mega cap 6:27 PM