Bombay Gas Company Ltd

Indicative price history

Key highlights

• Net worth about ₹238 Cr (₹344/share) — ₹209 Cr of investments and ₹27 Cr cash — versus ₹86.5 Cr market value at ₹125.
• FY24 one-off: revenue ₹265.82 Cr, PBT ₹237.63 Cr; FY25 back to ₹17.21 Cr revenue and ₹10.50 Cr PBT.
• Hamilton & Co. (Jalan / Soorajmull Nagarmull group) holds 86.55%; S. K. Jalan is Chairman & MD.
• Founded 1862 in London to light Bombay's streets; Indian control since 1947; CIN U65100MH1982PLC026295.

About Bombay Gas Company

Bombay Gas Company Limited is one of India's oldest corporate names. It was registered in London in 1862 under the Joint Stock Companies Act 1856 and empowered by a Bombay Legislative Council act of 1863 to lay gas mains across the Presidency; by 1874 its works and headquarters stood at Lalbaug, where 'Gas Company Lane' and a basalt plaque marked 'B.G. Co. Ltd. B. 1912' survive. It lit Bombay's streets for about a century until electric lamps replaced gas in the 1960s. Control passed in 1947 to K. D. Jalan of the Soorajmull Nagarmull group (Grace's Guide), and the present Indian company carries CIN U65100MH1982PLC026295, incorporated on 9 February 1982 with the RoC Mumbai (InstaFinancials; the same registry number also appears under the older U40200 gas-utility code, and wwipl gives 26 July 1947 as the original Indian incorporation). The registered office is Empire House, A. K. Nayak Marg, Fort.

Today the MCA classifies its activity as financial intermediation: the company holds investments and earns income from them, and the gas business is long gone (wwipl's profile oddly lists transport-support and travel-agency activities, which we could not corroborate). Hamilton & Co. Ltd, a Jalan-group company, holds 86.55% of the equity (UnlistedZone) and the public 13.45%. Sushil Kumar Jalan (DIN 00031281) is Chairman and Managing Director; Arvind Kanoria and Ashish Jalan are directors. The capital is 69,20,520 equity shares of ₹10 (₹6.92 Cr; InstaFinancials shows total paid-up capital of ₹8.00 Cr, the difference presumably preference capital or an older figure) against authorised capital of ₹9 Cr, ISIN INE04OE01014, dematerialised shares available — Planify labels its stock 'NSDL only'.

The accounts (standalone, from wwipl's financial table, ₹ lakh) show a one-off year followed by a quiet one: FY24 revenue from operations ₹265.82 Cr with profit before exceptional items and tax of ₹237.63 Cr — a margin that only an asset or investment realisation can produce, though the snippet does not say what was sold — and FY25 revenue of ₹17.21 Cr with pre-tax profit of ₹10.50 Cr. At 31 March 2025 reserves and surplus were ₹231.32 Cr, non-current investments about ₹208.97 Cr and cash ₹26.95 Cr, so net worth is roughly ₹238 Cr (about ₹344 per share). Tax, FY23 figures, depreciation, borrowings and the FY24 balance sheet shown here are estimates; InstaFinancials' note that the last filed balance sheet it holds is March 2023 means the registry copy lags the dealer table.

There is no operating business to grow; value lies in what the ₹209 Cr of investments are and whether the promoter ever distributes them. We found no dividend record, no credit rating, no litigation and no IPO or buy-back plan. Liquidity is thin: dealers disagree on the lot (UnlistedZone 500, Planify 200, wwipl 100) and on the price (UnlistedZone ₹125 on 21 July 2026 with a 52-week range of ₹125–135; Planify ₹124.62 on 20 July 2026 with a 52-week range of ₹108–226; wwipl ₹102 with a ₹94–120 range).

Valuation at the listed rate: ₹125 is UnlistedZone's indicative price and the rate used here, in lots of 500. It values the company at about ₹86.5 Cr — 0.36 times estimated book and roughly 10 times FY25 estimated earnings of about ₹8.4 Cr, or well under 1 times the FY24 one-off profit. The discount to book is typical of promoter-dominated investment holding companies where minority holders cannot force a payout; the 13.45% float is small.

Verification status (10 Oct 2026): CIN, incorporation date, registered office, capital and status are from registry aggregators (InstaFinancials, wwipl); ISIN, face value, share count, promoter holding and directors from dealer pages (Planify, UnlistedZone, wwipl, paperli); FY24–FY25 revenue, pre-exceptional profit, reserves, investments and cash from wwipl's financial table (unaudited transcription); history from Grace's Guide and National Herald. Tax, PAT, depreciation, borrowings, the FY24 balance sheet, cash flows and headcount are estimates. The company has no website we could find; UnlistedZone and the registry sites were blocked from this sandbox.

Where the revenue comes from

• Investment income and realisations100%

  Financial intermediation per MCA; FY25 revenue ₹17.21 Cr, FY24 ₹265.82 Cr including a large one-off realisation

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