Bhagawati Gas Ltd (500051)
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Bhagawati Gas' revenue was ₹18.0 Cr (+38.5% year on year, +12.5% on the previous quarter), and net profit ₹-17.0 Cr (against a profit a year earlier); the operating margin was -122.2%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹18.0 | +38.5% | +12.5% |
| Operating profit | ₹-22.0 | loss widened | to loss |
| Net profit | ₹-17.0 | to loss | loss widened |
| EPS (₹) | -10.06 | to loss | loss widened |
| Operating margin | -122.2% | — | — |
📢 Recent Corporate Announcements
At its 52nd AGM on September 30, 2026, Bhagawati Gas approved key management and corporate proposals. Mr. Mazhar Hasan was appointed as an Independent Director for a 5-year term starting October 1, 2026, while Managing Director Rakesh Samrat Bhardwaj was re-appointed upon retirement by rotation. Additionally, M/S YG & Associates was appointed as Statutory Auditor following the resignation of M/s Jain Paras Bilala & Co. on August 14, 2026. Shareholders also approved altering the Memorandum of Association (MOA) to add green energy, pollution control, AI/IT software, and commodity trading to its business scope.
- 52nd Annual General Meeting held on September 30, 2026, with 33 members present (15 promoter, 18 public)
- Appointment of Mr. Mazhar Hasan as Non-Executive Independent Director for a 5-year term starting October 1, 2026
- Appointment of M/S YG & Associates as Statutory Auditor following the casual vacancy from the previous auditor's resignation on August 14, 2026
- Alteration of MOA Clause III(A) to include green energy, AI/IT services, pollution control, and commodity trading
- Auditor's Report and Secretarial Audit Report for FY26 contained qualifications/observations read out at the meeting
At its 52nd AGM on September 30, 2026, Bhagawati Gas approved key management and corporate proposals. Mr. Mazhar Hasan was appointed as an Independent Director for a 5-year term starting October 1, 2026, while Managing Director Rakesh Samrat Bhardwaj was re-appointed upon retirement by rotation. Additionally, M/S YG & Associates was appointed as Statutory Auditor following the resignation of M/s Jain Paras Bilala & Co. on August 14, 2026. Shareholders also approved altering the Memorandum of Association (MOA) to add green energy, pollution control, AI/IT software, and commodity trading to its business scope.
- 52nd Annual General Meeting held on September 30, 2026, with 33 members present (15 promoter, 18 public)
- Appointment of Mr. Mazhar Hasan as Non-Executive Independent Director for a 5-year term starting October 1, 2026
- Appointment of M/S YG & Associates as Statutory Auditor following the casual vacancy from the previous auditor's resignation on August 14, 2026
- Alteration of MOA Clause III(A) to include green energy, AI/IT services, pollution control, and commodity trading
- Auditor's Report and Secretarial Audit Report for FY26 contained qualifications/observations read out at the meeting
Bhagawati Gas Limited has published its Annual Report for FY 2025-26 and issued the notice for its 52nd Annual General Meeting (AGM) to be held on September 30, 2026. The cut-off date for remote e-voting is set for September 23, 2026, with voting active between September 27 and September 29, 2026. The report highlighted the revocation of trading suspension on its equity shares effective February 26, 2026, following Supreme Court directions.
- 52nd Annual General Meeting scheduled for September 30, 2026 at 11:30 AM IST.
- Cut-off date for e-voting eligibility fixed as September 23, 2026.
- Remote e-voting window runs from September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM).
- Trading in equity shares recommenced on February 26, 2026, after suspension was revoked.
Bhagawati Gas Ltd announced that its statutory auditor, M/s Jain Paras Bilala & Co., resigned effective August 14, 2026, prior to the scheduled end of their five-year term at the 2027 AGM. The auditor cited its internal engagement continuance policy and confirmed there were no disagreements or concerns with company management. The Board has recommended appointing M/s YG & Associates as the new statutory auditor for a five-year term from FY27 to FY31, subject to shareholder approval at the upcoming AGM on September 30, 2026. The board also approved Q1 FY27 financial results and proposed an amendment to the object clause of the Memorandum of Association.
- Resignation of Statutory Auditor M/s Jain Paras Bilala & Co. effective close of business August 14, 2026
- Auditor tenure was originally scheduled until the 53rd AGM in 2027, appointed in September 2022
- Recommendation to appoint M/s YG & Associates as statutory auditor for 5 consecutive years (FY2026-27 to FY2030-31)
- 52nd Annual General Meeting convened for September 30, 2026, with cut-off date set to September 23, 2026
- Board approved appointment of Mazhar Hasan as Independent Director for a 5-year term starting October 1, 2026
Bhagawati Gas Limited held its board meeting on August 14, 2026, approving Q1 FY27 unaudited standalone financial results and proposing an alteration to the Object Clause of its Memorandum of Association (MOA) at the upcoming AGM on September 30, 2026. Statutory Auditor M/s Jain Paras Bilala & Co. resigned prior to their scheduled term expiry in 2027, citing internal engagement review policy with no management disagreements noted. The board has recommended M/s YG & Associates as the new statutory auditor for a 5-year tenure (FY 2026-27 to FY 2030-31) and proposed appointing Mr. Mazhar Hasan as an Independent Director for 5 years.
- Approved proposal to alter the Object Clause of the Memorandum of Association, pending shareholder approval at the 52nd AGM.
- Noted resignation of Statutory Auditor M/s Jain Paras Bilala & Co. effective August 14, 2026, ahead of their 2027 term end.
- Recommended appointment of M/s YG & Associates as statutory auditors for a 5-year term from FY27 to FY31.
- Scheduled 52nd Annual General Meeting for September 30, 2026, with the voting cut-off date set to September 23, 2026.
- Recommended appointment of Mazhar Hasan as Non-Executive Independent Director from October 1, 2026, to September 30, 2031.
Bhagawati Gas Limited announced that its board has recommended the appointment of M/s YG & Associates as Statutory Auditor for a five-year term (FY 2026-27 to FY 2030-31), subject to shareholder approval at the 52nd AGM on September 30, 2026. The appointment follows the resignation of previous auditor M/s Jain Paras Bilala & Co. on August 14, 2026, prior to their term expiry in 2027, citing internal engagement continuance review policies with no disputes reported. The board also approved Q1 FY27 financial results, recommended Mazhar Hasan as an Independent Director for a five-year term, and approved alterations to the Object Clause of the Memorandum of Association.
- Recommended appointment of M/s YG & Associates as Statutory Auditor for 5 consecutive financial years (FY 2026-27 to FY 2030-31).
- M/s Jain Paras Bilala & Co. resigned as Statutory Auditor effective August 14, 2026, after issuing the Q1 FY27 review report.
- 52nd Annual General Meeting scheduled for September 30, 2026, with September 23, 2026 set as the voting cut-off date.
- Recommended appointment of Mazhar Hasan as Independent Director for 5 years effective October 01, 2026 to September 30, 2031.
Bhagawati Gas Limited approved key governance and strategic updates at its board meeting on August 14, 2026. The board recommended appointing Mazhar Hasan as an Independent Director for a 5-year term from October 1, 2026, to September 30, 2031. Following the resignation of statutory auditor M/S Jain Paras Bilala & Co., M/s YG & Associates has been proposed as the new statutory auditor for a 5-year term (FY27 to FY31). Furthermore, the company approved altering its Memorandum of Association (MOA) to add green energy, environmental systems, AI/IT technology, and commodity trading, subject to shareholder approval at the AGM on September 30, 2026.
- Recommended Mazhar Hasan as Independent Director for a 5-year term from October 1, 2026, to September 30, 2031
- Statutory auditor M/S Jain Paras Bilala & Co. resigned effective August 14, 2026; M/s YG & Associates proposed for 5 consecutive financial years
- 52nd Annual General Meeting scheduled for September 30, 2026, with a record/cut-off date of September 23, 2026
- Approved altering MOA object clauses to include green energy, pollution control, AI/software/IoT, and general commodity trading
Bhagawati Gas announced several governance and corporate updates following its board meeting on August 14, 2026. The company noted the resignation of statutory auditor M/s Jain Paras Bilala & Co. and recommended the appointment of M/s YG & Associates for a 5-year term (FY27 to FY31), subject to shareholder approval. M/s MNG and Associates was re-appointed as internal auditor for FY 2026-27, and Mr. Mazhar Hasan was proposed as Independent Director for 5 years. Additionally, the company approved altering its MOA object clauses to include green energy, AI/IT, pollution control, and commodity trading ahead of the AGM on September 30, 2026.
- Re-appointed M/s M N G and associates as internal auditor for FY 2026-27
- Noted resignation of statutory auditor Jain Paras Bilala & Co. effective August 14, 2026; proposed M/s YG & Associates for a 5-year term
- Recommended 5-year appointment of Independent Director Mr. Mazhar Hasan from October 1, 2026 to September 30, 2031
- 52nd AGM scheduled for September 30, 2026, with voting cut-off date on September 23, 2026
- Approved MOA object clause alteration to enter green energy, AI/IT, pollution control, and commodity trading
Bhagawati Gas Limited held a board meeting on August 14, 2026, approving the unaudited standalone financial results for the quarter ended June 30, 2026. The board accepted the resignation of statutory auditor M/s Jain Paras Bilala & Co. and recommended appointing M/s YG & Associates for a 5-year term through FY31. Additionally, the company proposed altering its Memorandum of Association (MOA) object clause to enter green energy, pollution control, AI/IT software, and commodity trading, subject to shareholder approval at the AGM on September 30, 2026.
- Approved unaudited standalone financial results for the quarter ended June 30, 2026.
- Accepted resignation of statutory auditor M/s Jain Paras Bilala & Co. effective August 14, 2026.
- Recommended appointment of M/s YG & Associates as new Statutory Auditor for 5 years (FY27 to FY31).
- Proposed amendment to MOA object clauses to include green energy, AI/software, pollution control, and commodity trading.
- Scheduled the 52nd AGM for September 30, 2026, with the record/cut-off date set to September 23, 2026.
Bhagawati Gas approved its standalone financial results for the quarter ended June 30, 2026, and scheduled its 52nd AGM for September 30, 2026 (cut-off date September 23, 2026). Statutory auditor Jain Paras Bilala & Co. resigned effective August 14, 2026, citing internal engagement review policies, and the board recommended YG & Associates for a 5-year term (FY27 to FY31). The company also approved altering its Memorandum of Association (MoA) object clauses to permit entry into green energy, pollution control, AI/IT software, and commodity trading. Additionally, Mazhar Hasan was recommended as an Independent Director for a 5-year term starting October 1, 2026.
- Resignation of statutory auditor M/S Jain Paras Bilala & Co. effective August 14, 2026; M/s YG & Associates proposed for a 5-year term (FY27–FY31).
- Proposed amendment to MoA Object Clause to enter green energy/hydrogen, environmental solutions, AI/IT technologies, and general commodity trading.
- 52nd Annual General Meeting scheduled for September 30, 2026, with cut-off date fixed as September 23, 2026.
- Recommended appointment of Mazhar Hasan as Non-Executive Independent Director for 5 years (October 1, 2026 to September 30, 2031).
M/s Jain Paras Bilala & Co. has resigned as the Statutory Auditor of Bhagawati Gas Ltd, effective August 14, 2026, or upon completion of the Q1 FY27 limited review. The auditor cited their internal 'periodic review of professional engagements' as the reason for withdrawal, rather than any disagreement with the company management. The firm was originally appointed for a five-year term in September 2022, which was scheduled to last until the 2027 AGM. This mid-term exit follows a fiscal year (FY26) where the company reported revenue of ₹78.32 Cr and a marginal profit of ₹0.43 Cr.
- Statutory Auditor resignation effective from August 14, 2026, following the Q1 FY27 results signing.
- Auditor was mid-way through a 5-year term that commenced on September 30, 2022.
- The firm confirmed no disagreements with management regarding the resignation.
- Company reported TTM revenue of ₹34 Cr against a significant debt of ₹32 Cr.
- Last full-year audit report for FY26 was issued on May 30, 2026.
Bhagawati Gas Ltd has scheduled a board meeting for August 14, 2026, to approve the unaudited financial results for the quarter ended June 30, 2026. This follows a significant turnaround in FY26, where annual revenue jumped to ₹78.32 Cr from just ₹0.46 Cr in FY25. Investors will be monitoring if the revenue momentum from the March 2026 quarter (₹18.33 Cr) is sustained into the new fiscal year. The trading window for designated persons has been closed since June 01, 2026.
- Board meeting scheduled for August 14, 2026, at 04:00 P.M. to approve Q1 results.
- Trading window for insiders has been closed since June 01, 2026.
- Company reported a massive revenue increase to ₹78.32 Cr in FY26 from ₹0.46 Cr in FY25.
- March 2026 quarter revenue stood at ₹18.33 Cr, representing a significant portion of TTM revenue.
Bhagawati Gas Ltd has announced the resignation of Mr. Narendra Kumar Agarwal from his position as a Non-Executive Independent Director, effective July 25, 2026. He also ceases to be a member of the Audit Committee and the Nomination and Remuneration Committee. The company reported a TTM revenue of ₹34 Cr, a significant recovery compared to the FY25 revenue of ₹0.46 Cr. The director confirmed there are no other material reasons for his departure.
- Resignation of Mr. Narendra Kumar Agarwal effective from the close of business on July 25, 2026
- Cessation of membership in two key board committees: Audit and Nomination & Remuneration
- Company TTM revenue stands at ₹34 Cr, showing a sharp increase from FY25 revenue of ₹0.46 Cr
- Confirmation provided that no material reasons other than those stated in the resignation letter exist
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