STALLIONCommodities

Stallion India Fluorochemicals Limited

Industrial Gases · ISIN INE0RYC01010 · BSE 544342 · NSE BE · FV ₹10
Last price
₹219
+2.78%today
What this company does

Stallion India Fluorochemicals Limited operates in Industrial Gases, part of the Commodities sector. It booked ₹121 cr of revenue in its latest quarter (Q1 FY27) and kept 15.3% of sales as profit. It is the 3rd largest of 3 Industrial Gases companies we track, by market value.

60out of 100
Equitytale Health Score
Mixed

Healthier than 60% of companies in Commodities, on the 5 of 6 measures we could read for it. Each measure is ranked against the 141–173 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
48

At close. Not part of the score.

Profitability & returns61

How much profit it earns on the money it employs

Balance sheet87

How much it owes, and whether earnings cover the interest

Cash quality42

Whether reported profit actually arrives as cash

Valuation14

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Looks broadly healthy
Strengths
Makes a profit
Strong 15% net margin
Sales up 10% vs last year
Profit up 79% vs last year
Promoters hold 48%
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in STALLION?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹219 +2.78%
latest close · 2026-09-17
52-wk low ₹20242 sessions so far52-wk high ₹279
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio34.2High
LowAverageHigh
P/B ratio3.73High
Below bookModerateHigh
EV / EBITDA23.4High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity10.9%Fair
WeakFairStrong ▸15%
Return on capital14.6%Fair
WeakFairStrong
Net margin15.3%Strong
ThinDecentStrong
EBITDA margin20.8%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.05Comfortable
LowModerateHigh ▸1
Interest cover271.0×Strong
RiskyOkayStrong ▸5×
Current ratio11.85Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹2,540 cr
Book value
₹59
EPS
₹1.60
latest quarter
Net debt
₹-178 cr
more cash than debt
Enterprise value
₹2,361 cr
EBITDA
₹101 cr
annualised
EBIT
₹100 cr
annualised
Operating margin
20.5%
Return on assets
10.1%
Earnings yield
2.93%
P/S
5.23
Sales / share
₹41.8
Tax rate
25.1%
Face value
₹10
Shares
11.6 cr
Working capital
₹605 cr
Current assets
₹660 cr
Current liabilities
₹56 cr
Delivery %
27.4%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹20₹27, midpoint ₹23

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹121 cr
Other Income₹3 cr
Total Income₹125 cr
Cost of Materials₹76 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹17 cr
Employee Benefit Expense₹2 cr
Finance Costs₹9.2 L
Depreciation & Amortisation₹38.7 L
Other Expenses₹4 cr
Total Expenses₹100 cr
Profit before Tax₹25 cr
Tax Expense₹6 cr
Net Profit₹19 cr
Net margin on total income14.9%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹93 cr74.3%
Employee benefit expense₹2 cr1.9%
Finance costs₹9.2 L0.1%
Depreciation & amortisation₹38.7 L0.3%
Other expenses₹4 cr3.5%
Tax expense₹6 cr5.0%
Profit for the period₹19 cr14.9%
Total income ₹125 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue105 cr110 cr121 cr
Total income105 cr111 cr125 cr
Expenses92 cr95 cr100 cr
Profit before tax13 cr17 cr25 cr
Tax2 cr6 cr6 cr
Net profit (owners' share)11 cr11 cr19 cr
Net margin (owners' share, on revenue)10.6%9.9%15.3%
EPS (₹)1.401.331.60
YoY (latest quarter): total income +12.8% · net profit +79.3%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹737 cr
Shareholder equity
₹681 cr
parent shareholders
Total debt
₹34 cr
Cash
₹212 cr
Cash flow · H1 FY26
Operating
₹7 cr
Investing
₹-23 cr
Financing
₹-6 cr
Peer comparison
Industrial Gases · by market value
CompanyPriceMarket capP/E
Linde India Limited₹6,095₹51,976 cr124.3
Ellenbarrie Industrial Gases Limited₹371₹5,229 cr37.4
Stallion India Fluorochemicals Limitedthis company₹219₹2,540 cr34.2
Same industry · latest reported numbers · not a recommendation.
Corporate actions
ActionDetailEx-date
Rights issue41:1911 Feb 2026
Who owns it · 2026-06-30
No pledge
Promoter
47.8%
FII / Foreign
0.8%
DII / Domestic
1.5%
Retail / others
49.8%
Promoter stake down 20.1% over the last 8 quarters.
Smart-money activity
Insider trades
SoldSHAZAD SHERIAR RUSTOMJI · Promoters8.08 L · ₹20.0 cr4 Nov 25
SoldSHAZAD SHERIAR RUSTOMJI · Promoters7.91 L · ₹20.6 cr3 Nov 25
SoldSHAZAD SHERIAR RUSTOMJI · Promoters38,097 · ₹1.0 cr31 Oct 25
Bulk / block deals
short · NSE1017 Aug 26
short · NSE113 Aug 26
short · NSE912 Aug 26
Stake changes
SoldNeomile Corporate Advisory Limited→ 9.86% · 29.33 L4 Jun 26
BoughtNeomile Corporate Advisory Limited & Neomile Growth Fund-Series 1→ 12.39% · 1.04 cr6 Mar 26
SoldNeomile Asset managers Private Ltd→ 4.97% · 10.73 L17 Jul 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 15 Sep 2025
See the official result
1
Adoption of Financial Statements of the Company for the Financial Year ended 31st March 2025
Backed by 100% of shareholders other than promotersneeded 75%
35.43 L votes for, 14 against · 0% of mutual funds and other big investors said no
2
Appointment of Mrs. Geetu Yadav DIN 08831278 as a director, liable to retire by rotation.
Backed by 100% of shareholders other than promotersneeded 50%
35.42 L votes for, 999 against · 0% of mutual funds and other big investors said no
3
Appointment of Mr. Ameetkumar Vilaschandra Mehta DIN 07813086as an Independent Director.
Backed by 100% of shareholders other than promotersneeded 75%
35.43 L votes for, 99 against · 0% of mutual funds and other big investors said no
4
Continuation of Mr. Rajagopal Neelacantan DIN 00176806 as an Independent Director of the Company.
Backed by 100% of shareholders other than promotersneeded 75%
35.42 L votes for, 844 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 5 named members
owning 47.8% between them · as of 2026-06-30
SHAZAD SHERIAR RUSTOMJI47.77%
MANISHA SHAZAD RUSTOMJI0.02%
ROHAN SHAZAD RUSTOMJI0.01%
ROMICA NAARNGno shares
SHANOOR (RUSTOMJI) KOTHARIno shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it
1 fundraise spent differently than promised

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

Money raised in Mar 2026 by offering new shares to existing shareholders

As of Jun 2026, the company says it has spent 53% of what it set aside. INFOMERICS VALUATION AND RATING LIMITED watches the spending on the exchange’s behalf.

Acquisition of land
99%
of what was set aside
Plant and Machinery, EPC Contracting , Design Engineering , Commissioning , Training & Technology Transfer and Design, Cost, Building and Construction Cost
47%
of what was set aside
Issue Related Expenses
100%
of what was set aside
General Corporate Purpose
0%
of what was set aside

The amount this filing states as raised is many times the whole company’s market value, so it is almost certainly entered in the wrong unit. We show the purposes and how far along each one is, and leave the rupee figures out rather than repeat a number that cannot be right.

₹149 cr raised in Jan 2025 by selling shares to the public
⚑ company reported a change of plan

As of Jun 2026, the company says it has spent 95% of what it set aside, leaving ₹9 cr still to be spent. CARE Ratings Limited watches the spending on the exchange’s behalf.

Funding incremental working capital requirements of the Company.
now filed as: Funding incremental working capital requirements of the Company.
spent more than set aside
108%
₹103 cr of ₹95 cr
Funding capital expenditure requirements for our Semi-conductor & Specialty Gas debulking & blending facility (“Khalapur, Maharashtra”).
now filed as: Funding capital expenditure requirements for our Semi-conductor & Specialty Gas debulking & blending facility (“Khalapur, Maharashtra”).
91%
₹27 cr of ₹29 cr
Funding capital expenditure requirements for our Refrigerant debulking & blending facility (“Mambattu, Andhra Pradesh”).
now filed as: Funding capital expenditure requirements for our Refrigerant debulking & blending facility (“Mambattu, Andhra Pradesh”).
52%
₹11 cr of ₹21 cr
General Corporate Purposes.
now filed as: General Corporate Purposes.
100%
₹3 cr of ₹3 cr
Issue Expenses
now filed as: Issue Expenses
originally ₹12 cr
budget changed
75%
₹12 cr of ₹16 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.