ELLENBARRIE INDUSTRIAL GASES LIMITED
₹308.40-₹11.25 (-3.5%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹3,959 Cr
- P/E
- 45.4x
- EV / EBITDA
- 49.4x
- Revenue
- ₹312 Cr
- Net margin
- 16.7%
- ROCE
- 10.5%
Price chart
Technical chartScreen technicals →-33.8% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -13.5%
- 3M
- +19.7%
- 6M
- +15.3%
- 1Y
- -33.8%
- 5Y
- -45.1%
52-week range
Day change -₹11.25 (-3.5%) from ₹320 to ₹308 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in ELLEN, bought on each weekday since 2025.
AI Summary
Indian StockStrengths1
- Operating margin of 23.0% exceeds Energy median (16.5%)
Concerns1
- Negative free cash flow (₹53 Cr)
Rule-based from financial data. Not advice.
About the company
Ellenbarrie Industrial Gases Limited manufactures and supplies industrial gases in India and internationally. The company operates in two segments, Sale of Gases and Project Engineering Services. It offers oxygen, nitrogen, argon, helium, hydrogen, carbon dioxide, nitrous oxide, acetylene, and specialty gases for steel, pharma, shipbuilding, fabrication, food processing, and healthcare sectors.
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Ellenbarrie Industrial Gases Limited manufactures and supplies industrial gases in India and internationally. The company operates in two segments, Sale of Gases and Project Engineering Services. It offers oxygen, nitrogen, argon, helium, hydrogen, carbon dioxide, nitrous oxide, acetylene, and specialty gases for steel, pharma, shipbuilding, fabrication, food processing, and healthcare sectors. The company also provides project engineering services, including design, engineering, supply, installation, and commissioning of tonnage. In addition, it engages in the supply, installation, and commissioning of medical gas pipeline systems; and supply of medical equipment to healthcare facilities. Further, it supplies medical equipment, such as emergency and transport ventilators; central sterilisation system; lung function testing systems; and electro-cardiograph machines. The company was incorporated in 1973 and is headquartered in Kolkata, India.
- Sector
- Energy
- Shares outstanding
- 14.1 Cr shares
- ISIN
- INE236E01022
- BSE code
- 544421
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹3,959 Cr
- P/E
- 45.4x
- P/B
- 4.3x
- EV / EBITDA
- 49.4x
- EV / Sales
- 15.3x
- P/S
- 14.7x
- Earnings yield
- 2.2%
- 52-week high
- ₹465.80
- 52-week low
- ₹180.95
Profitability
- Operating margin
- 23.0%
- Net margin
- 16.7%
- EBITDA margin
- 30.9%
- ROE
- 11.0%
- ROCE
- 10.5%
- ROA
- 6.7%
- Dividend payout
- 0.0%
- Tax rate
- 29.0%
- Other income, % of PBT
- 32.8%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹312 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 16.0%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 9.1%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹83.0 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 56.6%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 84.4%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -12.8%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹44.0 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 12.8%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹10.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 22.1%
Solvency and efficiency
- Current ratio
- 4.07
- Debt / Equity
- 0.43
- Debt / Assets
- 0.26
- Debt / EBITDA
- 2.14
- Interest coverage
- 7.75
- Financial leverage
- 1.64
- CFO / Net profit
- 0.98
- Cash / Market cap
- 4.3%
- Cash per share
- ₹12.21
- Asset turnover
- 0.40
- Fixed asset turnover
- 0.81
- Capital intensity
- 1.23
- Debtor days
- 61 days
- Inventory turnover
- 5.00
- Cash conversion cycle
- 17 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹27 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹202 Cr |
| Sales | Operating profit | ₹110 Cr |
| Operating profit | Interest | ₹17 Cr |
| Operating profit | Depreciation | ₹21 Cr |
| Operating profit | Profit before tax | ₹72 Cr |
| Other income | Profit before tax | ₹36 Cr |
| Profit before tax | Tax and other | ₹25 Cr |
| Profit before tax | Net profit | ₹83 Cr |
Revenue and net profit
Revenue grew 16.0% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹175 Cr | ₹24 Cr |
| FY2022 | ₹247 Cr | ₹44 Cr |
| FY2023 | ₹205 Cr | ₹28 Cr |
| FY2024 | ₹269 Cr | ₹45 Cr |
| FY2025 | ₹312 Cr | ₹83 Cr |
Cash flows
FY2025: ₹4.00 Cr from operations, -₹53.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2022 | ₹13 Cr | ₹4 Cr |
| FY2023 | ₹39 Cr | -₹75 Cr |
| FY2024 | ₹44 Cr | -₹78 Cr |
| FY2025 | ₹4 Cr | -₹53 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹312 Cr+16.0%1Y
- Net profit
- ₹83 Cr+84.4%1Y
- Cash from operations
- ₹4 Cr
- Free cash flow
- -₹53 Cr
- Revenue CAGR, 5Y
- 9.1%
- EBITDA CAGR, 5Y
- -10.7%
- Net profit CAGR, 5Y
- -12.8%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹312 Cr | ₹110 Cr | — | ₹83 Cr | ₹4 Cr | -₹53 Cr | 16.8% | +16.0% | +84.4% |
Monthly returns
Month-by-month returns of ELLEN across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹846 Cr |
| Equity capital | ₹26 Cr |
| Reserves | ₹467 Cr |
| Borrowings | ₹247 Cr |
| Other liabilities | ₹106 Cr |
| Assets | ₹846 Cr |
| Fixed assets | ₹339 Cr |
| Capital work in progress | ₹45 Cr |
| Investments | ₹194 Cr |
| Other assets | ₹267 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
ELLEN trades at 45.4x earnings against a peer median of 24.8x (a 83% premium).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| ELLENBARRIE INDUSTRIAL GASES LIMITEDELLENthis companyP/E ↑ premium | ₹3,959 Cr | 45.4x | 4.3x | 11.0% | 49.4x |
| Gulf Oil Lubricants India LimitedGULFOILLUB | ₹5,590 Cr | 15.0x | 3.4x | 23.8% | 11.5x |
| RattanIndia Power LimitedRTNPOWER | ₹4,785 Cr | 60.1x | 1.0x | -22.4% | -31.6x |
| STERLING AND WILSON RENEWABLE ENERGY LIMITEDSWSOLAR | ₹4,730 Cr | 15.6x | 10.1x | 3.2% | 12.6x |
| PTC India LtdPTC | ₹4,693 Cr | 10.8x | 1.0x | 8.9% | 7.2x |
| TRUALT BIOENERGY LIMITEDTRUALT | ₹3,168 Cr | 27.6x | — | 13.0% | 19.1x |
| GK ENERGY LIMITEDGKENERGY | ₹2,857 Cr | 19.6x | 3.7x | 64.3% | 52.3x |
| INSOLATION ENERGY LIMITEDINA | ₹2,766 Cr | 41.1x | 6.3x | 5.9% | 348.0x |
| Deep Industries LimitedDEEPINDS | ₹2,416 Cr | 14.5x | 1.7x | 8.3% | 14.0x |
| Peer median | — | 24.8x | 3.1x | 12.8% | 15.7x |
Year-to-date ROI
ELLEN since 1 January, against earlier years.
Historical volatility
ELLEN's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 26.0% |
| FY2022 | 25.0% |
| FY2023 | 16.0% |
| FY2024 | 23.0% |
| FY2025 | 35.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹312 Cr |
| Costs | |
| Interest | ₹17 Cr |
| Expenses | ₹203 Cr |
| Operating profitOperating Profit | ₹110 Cr |
| Other income and charges | |
| Profit before tax | ₹108 Cr |
| Tax | |
| Net profitNet Profit | ₹83 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹846 Cr |
| Equity capitalEquity Capital | ₹26 Cr |
| Reserves | ₹467 Cr |
| Borrowings | ₹247 Cr |
| Other liabilitiesOther Liabilities | ₹106 Cr |
| AssetsTotal Assets | ₹846 Cr |
| Fixed assetsFixed Assets | ₹339 Cr |
| Capital work in progressCWIP | ₹45 Cr |
| Investments | ₹194 Cr |
| Other assetsOther Assets | ₹267 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹4 Cr |
| Investing cash flowCash from Investing Activity | -₹57 Cr |
| Financing cash flowCash from Financing Activity | ₹52 Cr |
| Change in cashNet Cash Flow | -₹1 Cr |
Learn while you research
Academy chapters picked for ELLENBARRIE INDUSTRIAL GASES LIMITED and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 45.4, learn when high multiples are justified.6 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read