Stock Performance and Market Context
On 17 Dec 2025, National Oxygen’s stock price touched an intraday low of Rs.89, representing a decline of 3.94% on the day. This movement underperformed the broader sector by 3.53%, signalling relative weakness within the Other Chemical products industry segment. Over the last six trading days, the stock has cumulatively fallen by 8.81%, underscoring a persistent negative momentum.
The stock is currently trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning indicates a bearish trend that has been sustained over multiple time frames.
In contrast, the Sensex index, despite a volatile session, remains near its 52-week high, closing at 84,572.05 points, just 1.88% shy of its peak at 86,159.02. The benchmark is trading above its 50-day and 200-day moving averages, reflecting a generally bullish market environment that National Oxygen has not mirrored.
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Financial Performance and Growth Trends
National Oxygen’s financial indicators reveal a challenging environment. The company’s net sales for the latest six-month period stand at Rs.13.95 crores, showing a contraction of 34.14% compared to previous periods. This decline in revenue has contributed to a negative profit after tax (PAT) of Rs.5.54 crores over the first nine months, which has reduced by 29.91% year-on-year.
Operating cash flow for the year is reported at a negative Rs.0.18 crores, indicating limited cash generation from core business activities. Additionally, the company has posted negative results for four consecutive quarters, reflecting ongoing financial strain.
The company’s earnings before interest and tax (EBIT) to interest ratio averages at 0.95, suggesting a constrained ability to cover interest expenses from operating profits. This metric points to pressure on the company’s debt servicing capacity.
Long-Term Fundamentals and Valuation
Over the past five years, National Oxygen’s net sales have declined at an annual rate of 1.97%, highlighting subdued long-term growth prospects. The company’s book value is negative, which is indicative of weak long-term fundamental strength and raises concerns about its balance sheet health.
The stock’s valuation appears elevated relative to its historical averages, with profitability falling by 67.5% over the last year. This combination of declining profits and stretched valuation contributes to the perception of increased risk associated with the stock.
Performance-wise, National Oxygen has underperformed the BSE500 index in each of the last three annual periods, with a one-year return of -33.80%, contrasting with the Sensex’s positive 4.81% return over the same timeframe.
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Shareholding and Industry Position
National Oxygen operates within the Other Chemical products sector, where it faces competition from peers with varying market capitalisations and financial profiles. The majority shareholding is held by promoters, which may influence strategic decisions and capital allocation.
The stock’s 52-week high was Rs.165, indicating that the current price level of Rs.89 represents a significant decline of approximately 46% from its peak within the last year.
Despite the broader market’s positive momentum, National Oxygen’s share price has not aligned with sector or benchmark indices, reflecting company-specific challenges.
Summary of Key Metrics
To summarise, National Oxygen’s stock has reached a new 52-week low of Rs.89 after a six-day losing streak. The company’s financial results show contraction in sales and profits, negative cash flow from operations, and a weak capacity to service debt. The stock trades below all major moving averages and has underperformed the benchmark indices consistently over recent years.
These factors collectively illustrate the pressures faced by National Oxygen in the current market environment.
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