Ellenbarrie Industrial Gases

Three schemes of Motilal Oswal Mutual Fund acquired 2,50,000 additional shares in Ellenbarrie Industrial Gases Ltd through market transactions on September 4, 2025. The acquisition increased their total holding from 1.175 crore shares (8.3371%) to 1.20 crore shares (8.5145%) of the company's equity capital. The acquiring schemes include Motilal Oswal Balanced Advantage Fund, Multi Cap Fund, and Business Cycle Fund. Ellenbarrie Industrial Gases has an equity share capital of 14.09 crore shares with a face value of Rs. 2 each and is listed on BSE and NSE.

Ellenbarrie Industrial Gases Limited reported strong quarterly results with revenue growing 24% year-on-year and EBITDA increasing 40% year-on-year. The company's EBITDA margin improved to 37% from 30% in the same period last year. The Kurnool plant is operating at 60-65% capacity utilization and is expected to reach 85-90% by the second half of FY26, while all other facilities are running at full capacity. The company plans to commission a merchant plant in East India by October 2025, an on-site plant for Forest Steel Mill by March 2026, and another merchant plant in North India by Q1 FY27. Argon revenue increased to 9% of total revenue from 7% previously, with the company targeting 15%+ in the future. Ellenbarrie holds approximately 4% market share and is the 4th or 5th largest player in India's industrial gases sector. The company repaid INR 210 crores of borrowings in July 2025 using IPO proceeds and plans capital expenditure of INR 250 crores over the next 1.5 years. Management expects at least 25% revenue growth annually for the next 2-3 years and aims to sustain the 37% EBITDA margin. The company is expanding its capacity from 1,370 tons per day in FY25 to a target of 1,910 tons per day by FY26 end and 2,130 tons per day by FY27.

Ellenbarrie Industrial Gases Limited reported quarterly results showing revenue increased 24.2% year-on-year to ₹836 million with 1.3% sequential growth. EBITDA grew 40.2% year-on-year to ₹307 million with margin expansion to 36.7%. Profit After Tax rose 15.6% year-on-year to ₹187 million, achieving a PAT margin of 22.4%. The margin improvement was driven by higher utilization of newly commissioned plants and cost rationalization measures. The company has scheduled an investors/analysts call for August 07, 2025, and released an investor presentation. Two major projects are progressing as planned: Uluberia 2 merchant plant (220 TPD) operational since October 2024, and an onsite plant (320 TPD) set for Q4 FY26 launch. The company announced acquisition of Truair Industrial Gases, a Bengaluru-based partnership firm, for ₹5.40 crore to add retail presence in the Bangalore market. Ellenbarrie has deployed IPO funds to reduce debt and is now in a net cash position.