Ellenbarrie Industrial Gases Ltd
Ellenbarrie Industrial Gases Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Company targets a long-term revenue growth rate of about 20-25% CAGR. Ellenbarrie Industrial Gases Ltd targets a long-term revenue CAGR of 20-25%, driven by new capacity additions across Eastern, Northern, and Western India over FY27-FY28.
From Ellenbarrie Industrial Gases Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Company targets a long-term revenue growth rate of about 20-25% CAGR.
- Growth will be lumpy, driven by step changes as new capacity plants are commissioned.
- New plants coming online: Uluberia 2 merchant plant recently commissioned; East India on-site plant expected Q1 FY27; North India bulk plant expected H2 FY27; Western India speciality gases unit targeted FY28.
- Uluberia 2 ramp-up expected to reach 85% capacity utilization faster than typical 18 months due to existing market presence.
- Expansion projects totaling around INR 450 crore capex over next couple of years.
- Long-term growth is tied to both organic capacity increase and entering speciality gases (e.g., solar industry).
- Current capacity utilization is high; future expansion primarily via greenfield plants.
- Short-term revenue guidance not provided; emphasis on long-term sustained growth trajectory.
Profitability & Margins
See what Ellenbarrie Industrial Gases Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Ellenbarrie is undertaking three main projects with a total capex of about ₹450 crores over the next couple of years.
- Projects include an on-site plant in Eastern India, a merchant plant in Northern India, and a merchant plus specialty gases plant in Western India.
- The Eastern India on-site plant is expected to be commissioned in Q1 FY27.
- The Northern India merchant plant is targeted for commissioning in H2 FY27.
- The Western India specialty gases and merchant plant is expected by FY28.
- Capex guidance is ₹250 crores in FY26 and ₹200 crores in FY27.
- Expansion focuses primarily on basic air gases (oxygen, nitrogen, argon) and increasing portfolio in specialty gases used in solar industry.
- The company is also working on power cost optimization via renewable energy contracts.
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Fundraising & Capital Structure
See what Ellenbarrie Industrial Gases Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Ellenbarrie Industrial Gases Ltd has ordered new plants as part of their expansion.
- The North India merchant plant commissioning timeline is set for H2 FY27.
- Plant orders have been placed, with construction and civil work scheduled around equipment delivery.
- No specific quantitative details on the total current or pending order book were disclosed.
- The company's growth focus includes three key projects: an on-site plant in Eastern India (expected Q1 FY27), a North India merchant plant (H2 FY27), and a Western India merchant plus specialty gases plant (target FY28).
- Capex for these projects is around Rs. 450 crore over the next couple of years.
- The company emphasizes long-term growth and capacity additions rather than quarterly order book specifics.
Ellenbarrie Industrial Gases Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹87 Cr, net profit ₹23 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Ellenbarrie Industrial Gases Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Ellenbarrie Industrial Gases Ltd Q3 FY26 results?
Company targets a long-term revenue growth rate of about 20-25% CAGR. Ellenbarrie Industrial Gases Ltd targets a long-term revenue CAGR of 20-25%, driven by new capacity additions across Eastern, Northern, and Western India over FY27-FY28.
What is Ellenbarrie Industrial Gases Ltd share price analysis?
Ellenbarrie Industrial Gases Ltd currently shows a neutral. The stock trades at a P/E of 37.9 with a market cap of ₹3,960 Cr. Investors should review the full earnings analysis for detailed insights.
Is Ellenbarrie Industrial Gases Ltd planning capital expenditure?
Ellenbarrie is undertaking three main projects with a total capex of about ₹450 crores over the next couple of years.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.