NSE: ELLEN · BSE: 544421 · ISIN INE236E01022
Ellenbarrie Industrial Gases Limited stock analysis
Ellenbarrie Industrial Gases Limited ranks #114 in the TickerSutra evidence-ranked universe with a score of 72/100 and 95% data confidence. The latest captured fundamentals show ROCE of 15.2%, quarterly sales growth of 18.0% and quarterly profit growth of 86.8%.Watchlist candidate
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Low debt/equity of 0.19×
- Strong CFO/EBITDA of 1.15×
- 18.6% three-year sales CAGR
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- No calculated threshold risk in the current snapshot.
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹247cr | ₹63cr | ₹44cr | 25.0% |
| 2023 | ₹205cr | ₹34cr | ₹28cr | 16.0% |
| 2024 | ₹269cr | ₹62cr | ₹45cr | 23.0% |
| 2025 | ₹312cr | ₹110cr | ₹83cr | 35.0% |
| 2026 | ₹342cr | ₹116cr | ₹104cr | 34.0% |
| TTM | ₹357cr | ₹123cr | ₹121cr | 35.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Ellenbarrie Industrial Gases Limited has informed the exchange the Press Release.
RoutinePress ReleaseNSE · 29 Sept 2026Ellenbarrie Industrial Gases Limited has informed the Exchange regarding a press release dated September 28, 2026, titled "Ellenbarrie Industrial Gases Limited has informed the exchange regarding Press Release ".
RoutineEllenbarrie Industrial Gases Ltd - 544421 - Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderBSE · 28 Sept 2026Ellenbarrie Industrial Gases Limited has informed the exchange regarding Awarding of Contract to the Company by BHEL.
RoutineAwarding of order(s)/contract(s)-(Sub-para 4-Para B)NSE · 28 Sept 2026 · Structured filingELLENBARRIE INDUSTRIAL GASES LIMITED has informed the Exchange about Awarding of order(s)/contract(s)-(Sub-para 4-Para B)
ELLENBARRIE INDUSTRIAL GASES LIMITED has informed the Exchange about Awarding of order(s)/contract(s)-(Sub-para 4-Para B)
Open original XBRL sourceEllenbarrie Industrial Gases Limited has informed the Exchange about Awarding of order(s)/contract(s)
MANAGEMENT COMMENTARY
Signals from filed documents
PAT grew by 25.2% to ` 1,044 Mn, an outcome which reflects the compounding effect of years of continued investment in a diversified, future-ready production footprint. Scaling with Discipline Capacity Commissioning: The 220 TPD Uluberia 2 merchant plant in West Bengal was commissioned, a meaningful addition to our East India network. Ramping up utilization and optimizing commercial efficiencies at this facility is fi
At the same time, India continues to strengthen its integration with global trade networks through agreements such as the India-Australia Economic Cooperation and Trade Agreement (ECTA), along with ongoing negotiations with other key markets. Continued efforts to improve ease of doing business and attract foreign investment are expected to further support export growth and supply chain participation. (Sources: https:
Margins remained resilient despite near-term headwinds, reflecting disciplined execution and operational efficiencies. A Defining Milestone Strong Financial Momentum Market Capitalization Revenue Growth EBITDA Growth* * EBITDA = PBT + Depreciation + Finance Cost + Impairment Loss on Financial Assets - Other Income Debt Reduction PAT Growth ` 36,361 Mn 9.3% 4.2% ` 2,152 Mn 25.3% Measuring the Momentum of a Milestone Y
This approach enables the Company to respond proactively to potential disruptions while supporting stable operations and long-term growth. InternalI ExternalE Operational O Financial F Risk Type Description Mitigation Strategy Customer Concentration Sector Concentration Safety Manufacturing Logistics Power Cost Dependence on key customers may impact revenue stability in the event of financial or operational disruptio
Despite interim fluctuations in Argon prices throughout the year, our EBITDA margin held strong at 34%. With commissioning of newer, more energy-efficient plants, we are confident of progressing toward our long-term aspiration of achieving 40% EBITDA margins. Building for What Comes Next The years ahead carry promise, not because conditions will be easy but because we have a well planned strategy in place and the cap
Margins remained resilient despite near-term headwinds, reflecting disciplined execution and operational efficiencies. A Defining Milestone Strong Financial Momentum Market Capitalization Revenue Growth EBITDA Growth* * EBITDA = PBT + Depreciation + Finance Cost + Impairment Loss on Financial Assets - Other Income Debt Reduction PAT Growth ` 36,361 Mn 9.3% 4.2% ` 2,152 Mn 25.3% Measuring the Momentum of a Milestone Y
Over time, this has led us to build systems, relationships and expertise that hold under pressure, adapt with evolving needs and support long-term growth across cycles. 1 2 Market Leadership and Reach We are a trusted name in industrial and medical gases, holding leading market positions across East and South India. Supported by a highly robust logistical framework and expansive operational capabilities, we rank amon
The strategy involves a balanced business mix: Strategic Acquisitions and Alliances While organic capacity addition is the primary growth engine, we remain fully open to inorganic growth. The strategy entails: Integrated Solutions via Backward Integration To cement our status as a comprehensive one-stop solution for customers, we are expanding our Project Engineering Services division. The future outlook involves str
It shapes not only our ability to produce high-purity gases, but also how effectively we reach customers across regions where uninterrupted supply is essential. By aligning infrastructure, capacity creation, technology and execution, we have built a system that supports both reliability and geographic expansion. Tons per Day (TPD) An Expanding Asset Base Our expanding capacity is supported by a well-distributed infra
And last quarter, again, the margins were primarily driven by increase in revenues combined with the strong cost control. So, it's just, you know, strong operational performance rather than a price movement driven margin expansion. Bhavika Singhvi (Niveshaay) Yeah, understood your point.
Operational disruptions may arise due to logistical constraints, inadequate storage infrastructure or geopolitical developments affecting supply chains. Improper storage or accidental release of gases may lead to environmental damage and potential regulatory penalties. Delays or execution challenges in turnkey projects such as Air Separation Units (ASUs) or medical gas pipeline systems may affect revenue recognition
Comprehensive Ellenbarrie Industrial Gases Limited Annual Report 2025-26 40 internal financial controls have been implemented to enhance the accuracy and reliability of financial reporting and to strengthen the integrity of financial statement preparation. The Internal Auditors conduct regular audits, based on risk-based audit plans, approved by the Audit Committee. The significant observations together with manageme
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Evidence, freshness and limitations
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The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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