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Ellenbarrie Indl.Gas Overview

Ellenbarrie Industrial Gases Ltd. (EIGL) is one of India’s oldest industrial gas manufacturers, with over 50 years of operations and the largest fully Indian-owned player in the sector. The company operates one of India’s biggest oxygen plants (1250 TPD) and had a revenue market share of 2.65% in FY24. EIGL supplies a wide range of gases—oxygen, nitrogen, argon, helium, hydrogen, CO₂, nitrous oxide and more—serving industries like steel, shipbuilding, glass, pharma, welding and fabrication. It is also a key supplier to India’s space...Read More

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Ellenbarrie Indl.Gas Key Financials

Market Cap ₹4946 Cr.

Stock P/E 59.4

P/B 5.5

Current Price ₹351

Book Value ₹ 63.8

Face Value 2

52W High ₹637

Dividend Yield 0%

52W Low ₹ 339.2

Ellenbarrie Indl.Gas Share Price

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Volume
Price

Ellenbarrie Indl.Gas Quarterly Price

Show Value Show %

Ellenbarrie Indl.Gas Peer Comparison

Ellenbarrie Indl.Gas Quarterly Results

#(Fig in Cr.) Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Jun 2024 Sep 2024 Jun 2025 Sep 2025
Net Sales 25 23 23 24 29 24 67 95 84 89
Other Income 0 0 1 0 -0 0 8 7 7 13
Total Income 25 23 24 24 29 25 75 102 90 102
Total Expenditure 23 21 22 20 23 20 45 58 53 56
Operating Profit 2 2 3 4 6 5 30 43 38 46
Interest 4 3 5 3 3 2 4 4 5 1
Depreciation 2 2 2 2 2 2 5 5 5 5
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -4 -3 -4 -1 2 1 21 34 28 40
Provision for Tax 0 0 0 0 0 0 5 5 9 3
Profit After Tax -4 -3 -4 -1 2 1 16 30 19 37
Adjustments 4 3 4 1 -2 -1 0 0 0 0
Profit After Adjustments 0 0 0 0 0 0 16 30 19 37
Adjusted Earnings Per Share -0.3 -0.2 -0.3 -0.1 0.1 0.1 1.2 2.3 1.3 2.6

Ellenbarrie Indl.Gas Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 87 96 116 123 154 174 175 245 205 269 312 335
Other Income 6 4 2 3 2 123 5 11 19 21 36 35
Total Income 93 100 119 126 156 297 180 256 224 290 348 369
Total Expenditure 83 90 100 105 125 149 129 164 171 208 203 212
Operating Profit 10 9 19 21 31 148 51 92 52 82 146 157
Interest 13 16 11 11 14 17 11 5 4 8 17 14
Depreciation 5 7 7 7 10 11 13 12 11 10 21 20
Exceptional Income / Expenses 0 0 0 0 0 0 0 9 0 0 0 0
Profit Before Tax -9 -13 0 2 7 120 27 85 37 64 108 123
Provision for Tax 0 0 0 0 0 30 3 18 9 19 25 22
Profit After Tax -9 -13 0 2 7 89 24 67 28 45 83 102
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -9 -13 0 2 7 89 24 67 28 45 83 102
Adjusted Earnings Per Share -0.7 -1 0 0.2 0.6 6.8 1.8 5.1 2.1 3.5 6.4 7.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 16% 8% 12% 14%
Operating Profit CAGR 78% 17% -0% 31%
PAT CAGR 84% 7% -1% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR NA% NA% NA% 0%
ROE Average 19% 14% 18% 37%
ROCE Average 20% 15% 18% 16%

Ellenbarrie Indl.Gas Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 13 31 22 24 31 124 148 338 363 410 493
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 125 131 114 145 142 112 86 0 56 95 147
Other Non-Current Liabilities 0 0 5 5 7 40 41 56 67 56 91
Total Current Liabilities 100 67 90 87 102 71 96 50 107 135 161
Total Liabilities 238 229 231 262 282 346 371 444 592 697 891
Fixed Assets 164 165 163 163 196 229 238 187 184 331 339
Other Non-Current Assets 2 3 17 38 17 25 24 92 196 112 331
Total Current Assets 73 62 51 60 68 93 109 164 212 254 222
Total Assets 238 229 231 262 282 346 371 444 592 697 891

Ellenbarrie Indl.Gas Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 2 0 1 1 2 39 1 0 11 1
Cash Flow from Operating Activities 12 -13 34 -1 33 125 71 31 39 44 4
Cash Flow from Investing Activities -43 -8 -8 -27 -20 -37 -14 -41 -114 -122 -57
Cash Flow from Financing Activities 32 22 -26 28 -12 -51 -34 10 87 67 52
Net Cash Inflow / Outflow 1 -0 0 -0 1 37 22 -0 11 -10 -1
Closing Cash & Cash Equivalent 2 2 1 1 2 39 62 0 11 1 0

Ellenbarrie Indl.Gas Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -0.66 -1.02 0.03 0.19 0.56 6.83 1.84 5.13 2.15 3.46 6.36
CEPS(Rs) -0.26 -0.47 0.56 0.75 1.33 7.63 2.82 6.01 3.02 4.22 7.94
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) -0.78 -0.23 -0.1 0.1 0.63 7.69 9.5 24.07 25.96 29.53 35.91
Core EBITDA Margin(%) 4.51 5.66 14.01 14.63 19.28 14.4 26.36 32.94 16.41 22.86 35.15
EBIT Margin(%) 4.78 2.27 10.08 11.02 13.78 78.65 21.77 36.61 19.93 26.84 40.02
Pre Tax Margin(%) -9.18 -12.87 0.33 2.03 4.79 68.61 15.68 34.72 18.17 23.83 34.51
PAT Margin (%) -9.18 -12.87 0.33 2.03 4.79 51.31 13.73 27.46 13.72 16.81 26.65
Cash Profit Margin (%) -3.6 -6 6.37 7.94 11.27 57.36 21.09 32.17 19.27 20.52 33.28
ROA(%) -4.1 -5.7 0.17 1.01 2.72 28.48 6.71 16.49 5.43 7.03 10.49
ROE(%) 0 0 0 0 155.5 164.16 21.37 30.56 8.59 12.47 19.44
ROCE(%) 2.72 1.24 6.27 6.82 9.82 59.76 15.44 30.72 10.66 14.4 19.55
Receivable days 74.08 88.75 84.03 90.22 73.7 69.64 67.77 48.24 67.38 57.37 74.72
Inventory Days 35.68 35.93 18.88 10.83 8.07 7.95 9.59 10.25 15.23 13.16 14.72
Payable days 128.85 112.74 71.84 89.02 175.53 350.62 502.39 223.42 238 117.6 162.43
PER(x) 0 0 523.65 0 0 0 0 0 0 0 0
Price/Book(x) -36.33 -67.71 -150.3 0 0 0 0 0 0 0 0
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 6.55 4.08 3.35 1.73 1.33 0.57 0.42 0.06 0.45 0.67 0.86
EV/Core EBITDA(x) 58.45 41.37 20.76 10.24 6.54 0.67 1.46 0.15 1.78 2.18 1.84
Net Sales Growth(%) 28.66 9.95 20.93 6.09 25.32 12.92 0.5 39.65 -16.14 31.38 15.96
EBIT Growth(%) 121.18 -47.88 397.28 16.02 56.64 544.68 -72.19 134.89 -54.35 76.92 72.92
PAT Growth(%) 68.07 -53.48 102.91 543 196.13 1110.01 -73.1 179.23 -58.09 60.93 83.91
EPS Growth(%) 68.07 -53.49 102.91 543.92 195.96 1110.07 -73.1 179.36 -58.09 60.93 83.91
Debt/Equity(x) -19.85 23.83 -139.52 165.83 25.94 1.35 1.07 0.03 0.3 0.46 0.52
Current Ratio(x) 0.73 0.92 0.57 0.69 0.67 1.31 1.14 3.28 1.99 1.87 1.38
Quick Ratio(x) 0.61 0.8 0.52 0.65 0.64 1.25 1.09 3.11 1.91 1.79 1.29
Interest Cover(x) 0.34 0.15 1.03 1.23 1.53 7.84 3.58 19.33 11.31 8.93 7.26
Total Debt/Mcap(x) 0.55 0.87 0.93 0 0 0 0 0 0 0 0

Ellenbarrie Indl.Gas Shareholding Pattern

# Dec 2014 Mar 2015 Jun 2015 Sep 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Jun 2025 Sep 2025
Promoter 74.94 74.94 74.94 74.94 0 74.94 74.94 29.65 77.16 77.16
FII 0 0 0 0 0 0 0 0 1.97 1.2
DII 0.62 0.62 0.62 0.62 2.47 0.62 0.62 0.24 10.57 14.37
Public 24.44 24.44 24.44 24.44 97.53 24.44 24.44 70.1 10.3 7.27
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Ellenbarrie Indl.Gas News

Ellenbarrie Indl.Gas Pros & Cons

Pros

Cons

  • Company has a low return on equity of 14% over the last 3 years.
  • Debtor days have increased from 117.6 to 162.43days.
  • Stock is trading at 5.5 times its book value.
  • The company has delivered a poor profit growth of -1% over past five years.
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