HILLTONE
Hilltone Software and Gases financials
- Market cap
- ₹65 Cr
Quarterly results
Q1 FY27: revenue down 32.5%, net profit down 333.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2 | 1 | 2 | 2 | 3 +65% | 7 +374% | 2 +14% | 2 −32% |
| EBITDA | 0 | -0 | -0 | -0 | -1 −1140% | 1 +1290% | -0 −19% | -1 −312% |
| Net profit | 0 | 0 | -0 | -0 | -1 −655% | 1 +890% | -0 +43% | -1 −333% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −16.9% 1Y
1Y: ₹47.02 on 9 Sept 2025 → ₹39.08. High ₹90.77 (1 Jan 2026), low ₹38.5 (7 Sept 2026).
Financials, as filed
Revenue grew 45.2% a year over 2 years, FY24 to FY26. Operating margin narrowed to 1.1%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹7 Cr | ₹8 Cr | ₹15 Cr |
| Operating profit | ₹0 Cr | ₹-0 Cr | ₹0 Cr |
| Operating margin | 5.9% | -2.8% | 1.1% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹1 Cr |
| Net profit | ₹1 Cr | ₹-0 Cr | ₹-0 Cr |
| Net margin | 7.2% | -2.1% | -0.5% |
| Cash from operations | ₹-7 Cr | ₹1 Cr | ₹-4 Cr |
| Free cash flow | ₹-8 Cr | ₹-1 Cr | ₹-9 Cr |
| ROCE | 7.5% | 2.3% | 0.8% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹4 Cr | ₹4 Cr | ₹4 Cr | ₹11 Cr | ₹11 Cr | ₹13 Cr |
| Reserves | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹3 Cr | ₹4 Cr | ₹10 Cr |
| Borrowings | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹2 Cr |
| Other liabilities | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹9 Cr | ₹2 Cr |
| Total liabilities | ₹6 Cr | ₹6 Cr | ₹7 Cr | ₹16 Cr | ₹24 Cr | ₹27 Cr |
| Fixed assets | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹4 Cr | ₹11 Cr | ₹10 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹4 Cr | ₹3 Cr | ₹4 Cr | ₹12 Cr | ₹13 Cr | ₹16 Cr |
| Total assets | ₹6 Cr | ₹6 Cr | ₹7 Cr | ₹16 Cr | ₹24 Cr | ₹27 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs added +4.23 pp while promoters trimmed −2.17 pp. The shareholder count grew 32% to 2,022.
- Promoters
- 10.7%
- FIIs
- 4.4%
- Public
- 84.9%
Since Jun 2025
- FIIs +4.23 pp
- Promoters −2.17 pp
- Public −2.08 pp
How it drifted, 7 quarters
Over this window FIIs went from 0.0% to 4.4% — +4.4 pp.
Ownership split by quarter, oldest first. Dec '24: Promoters 12.8%, Public 87.2%.Mar '25: Promoters 12.8%, Public 87.2%.Jun '25: Promoters 12.8%, FIIs 0.1%, Public 87.0%.Sep '25: Promoters 12.8%, FIIs 0.1%, Public 87.1%.Dec '25: Promoters 10.7%, FIIs 3.8%, Public 85.6%.Mar '26: Promoters 10.7%, FIIs 4.2%, Public 85.2%.Jun '26: Promoters 10.7%, FIIs 4.4%, Public 84.9%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Shreyansbhai Shantilal Shah newly disclosed 3.45% held
- Vijay Dadubhai Jebaliya newly disclosed 1.56% held
- Jigar Arvind Shah newly disclosed 1.52% held
- Vivek Maheshchandra Mangla +1.21 pp 4.62% held
- Harsha Rajesh Jhaveri +0.71 pp 2.31% held
- Gurpreet Singh Pasricha +0.10 pp 3.85% held
The same filing shows 0 holders trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Hilltone Software and Gases Ltd above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Raveesh Dewan | 6.02% | unchanged |
| Parminder Singh Sethi | 6.02% | unchanged |
| Hitalbhai Mahendrabhai Shah | 5.10% | unchanged |
| Niketbhai Mahendrabhai Shah | 4.68% | unchanged |
| Vivek Maheshchandra Mangla | 4.62% | +1.21 pp |
| Gurpreet Singh Pasricha | 3.85% | +0.10 pp |
| E Wizdom Solutions Private Limited Corporate | 3.69% | unchanged |
| Shreyansbhai Shantilal Shah | 3.45% | newly disclosed |
| Maynard George Mcalpin | 2.50% | unchanged |
| Harsha Rajesh Jhaveri | 2.31% | +0.71 pp |
| Pratik Kumar More | 1.90% | unchanged |
| Pawan Kumar More | 1.90% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Hilltone Software and Gases Ltd
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