Ellenbarrie Industrial Gases (ELLEN) had a P/E of 33.9× on 6 Nov 2026, above the industry P/E of 18.2×, and the shares are 39% below their 52-week high. It earns ROCE of 13% and ROE of 14%, and sales and net profit grew 17% and 55% a year over 3 years. Debt is 0.19× equity. It is a small-cap company with a market cap of ₹4,089 Cr, ranked 10th of 76 Chemicals companies by market cap; the shares fell 32% over the past year.
- ₹295.35
- ₹299.00
- ₹286.00
- ₹312.80
- 8.4 L
Health check
- ReturnsBehind
−31.7% over a year, better than 1 of 7 peers.
- Price tagPricier
P/E 33.9 vs industry 18.2.
- GrowthStrong
Sales +16.9%, profit +54.8% a year over 3 years.
- ProfitabilityAverage
ROCE 13.0% vs peer median 10.6%.
- Balance sheetSolid
Debt 0.19× equity, interest covered 16.1×, Piotroski 7 of 9.
- Red flags2 to check
P/E of 33.9 against an industry P/E of 18.2.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹4,089 Cr
- Small cap
- P/E
- 33.9
- Industry 18.2
- Price to book
- 4.18
- Peers 2.62
- Dividend yield
- 0.00%
- ROE
- 14.2%
- Peers 11.7%
- ROCE
- 13.0%
- Peers 10.6%
- Debt to equity
- 0.19
- Debt ₹184 Cr
- EPS (TTM)
- ₹8.56
- Face value ₹2
- OPM (TTM)
- 35.5%
- Net margin 33.8%
- Sales growth
- +18.0%
- Latest quarter vs a year ago
- Profit growth
- +86.8%
- Latest quarter vs a year ago
- Price to sales
- 11.46
- EV/EBITDA 40.4
Strengths and risks
Strengths
- Quarterly profit up 86.8% on a year ago.
- Quarterly sales up 18.0% on a year ago.
- Net margin of 33.8%.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- P/E of 33.9 against an industry P/E of 18.2.
- 39% below its 52-week high.
About Ellenbarrie Industrial Gases
Ellenbarrie Industrial Gases Limited manufactures industrial and medical gases in India. It offers industrial gases, such as oxygen, nitrogen, argon, carbon dioxide, helium, acetylene, hydrogen, nitrous oxide, synthetic air, and special gases; and medical gases, including medical oxygen, medical nitrogen, medical nitrous oxide, and medical grade carbon dioxide. The company also provides project engineering services comprising design, engineering, supply,…
- Headquarters
- Kolkata
- Sector
- Basic Materials
- ISIN
- INE236E01022
- Website
- ellenbarrie.com
Price range
- Avg volume (3M)
- 9.5 L
- 1-year return
- minus 31.7%
- From 52-week high
- minus 38.5%
Peers · Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| NAVINFLUORNavin Fluorine International | 9,010.00 | plus 1.87% | 46,250 | 50.8 | 42.7 | 18.7% | 34.3% | 0.28 | 16.5% | plus 46.1% |
| DEEPAKNTRDeepak Nitrite | 1,533.60 | minus 0.67% | 20,917 | 19.7 | 22.3 | 10.8% | 18.0% | 0.27 | −0.5% | minus 11.9% |
| TATACHEMTata Chemicals | 607.45 | minus 1.36% | 15,475 | – | 12.4 | −3.0% | 12.2% | 0.36 | −4.8% | minus 31.0% |
| DEEPAKFERTDeepak Fertilisers & Petrochemicals Corp. | 1,155.30 | minus 0.69% | 14,599 | 14.8 | 11.5 | 11.2% | 17.6% | 0.76 | 2.6% | minus 22.7% |
| RPELRaghav Productivity Enhancers | 1,780.80 | plus 0.95% | 8,178 | 116.0 | 107.1 | – | 29.9% | 0.02 | 23.5% | plus 95.4% |
| GNFCGujarat Narmada Valley Fertilizers and Chemicals | 451.80 | minus 1.87% | 6,639 | 6.3 | 5.4 | 10.4% | 14.8% | 0.01 | −8.8% | minus 7.2% |
| ACIArchean Chemical Industries | 416.40 | minus 1.95% | 5,141 | 51.3 | 23.2 | 7.7% | 20.0% | 0.28 | −9.2% | minus 34.6% |
| ELLENEllenbarrie Industrial Gases | 290.10 | minus 7.26% | 4,089 | 33.9 | 40.2 | 13.0% | 35.5% | 0.19 | 16.9% | minus 31.7% |
| Median of 7 peers | – | −0.69% | 14,599 | 35.2 | 22.3 | 10.6% | 18.0% | 0.28 | −0.5% | −11.9% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 83.6 | 89.2 | 81.3 | 87.4 | 98.7 | |
| 51.8 | 54.6 | 54.9 | 60.6 | 60.1 | |
| 31.8 | 34.6 | 26.4 | 26.8 | 38.7 | |
| 38.0% | 38.8% | 32.5% | 30.6% | 39.2% | |
| 6.8 | 11.7 | 14.9 | 13.6 | 17.1 | |
| 4.6 | 1.1 | 1.5 | 2.3 | 2 | |
| 5.1 | 5.1 | 5.2 | 6.1 | 6.3 | |
| −1.1 | −0.2 | −0.4 | 1.4 | −1 | |
| 27.8 | 40 | 34.2 | 33.3 | 46.5 | |
| 32.8% | 8.1% | 23.8% | 31.2% | 24.7% | |
| 18.7 | 36.7 | 26.1 | 22.9 | 35 | |
| 1.42 | 2.61 | 1.85 | 1.62 | 2.48 |
Profit & loss
- Sales CAGR 3Y
- +16.9%
- Profit CAGR 3Y
- +54.8%
- EPS CAGR 3Y
- +51.9%
- ROE
- 14.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 202 | 266 | 308 | 323 | |
| – | +32.0% | +15.5% | +4.8% | |
| 168 | 208 | 200 | 218 | |
| 33.5 | 58.8 | 108 | 104 | |
| 16.6% | 22.1% | 35.2% | 32.3% | |
| 11.3 | 18.3 | 33.8 | 58.9 | |
| 2.4 | 7.1 | 16.6 | 8.9 | |
| 11.4 | 10 | 20.7 | 21.5 | |
| 6.3 | 4.3 | 3.1 | 2.6 | |
| 37.3 | 64.2 | 108 | 135 | |
| 24.5% | 29.5% | 22.8% | 22.8% | |
| 28.1 | 45.3 | 83.3 | 104 | |
| – | +60.9% | +83.9% | +25.3% | |
| 2.15 | 3.46 | 6.36 | 7.54 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 6.5 | 6.5 | 26.2 | 28.2 | |
| 357 | 403 | 467 | 949 | |
| 103 | 178 | 247 | 184 | |
| 84.7 | 84.2 | 106 | 137 | |
| 551 | 673 | 846 | 1,299 | |
| 274 | 350 | 403 | 558 | |
| 89.9 | 19.5 | 64.1 | 105 | |
| 5 | 57.9 | 110 | 315 | |
| 117 | 113 | 86.7 | 84.2 | |
| 65.5 | 132 | 182 | 238 | |
| 551 | 673 | 846 | 1,299 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 38.7 | 43.7 | 4.3 | 133 | |
| −114 | −122 | −56.9 | −436 | |
| 86.6 | 67.5 | 51.9 | 305 | |
| 11.1 | −10.5 | −0.7 | 1 | |
| −94.9 | −87 | −69.2 | −158 | |
| −56.2 | −43.3 | −64.9 | −25.8 |
Shareholding pattern
- Promoters77.15%
- Public22.85%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 77.15% | 22.85% | 0.00 | |
| 30 Jun 2026 | 77.15% | 22.85% | 0.00 | |
| 31 Mar 2026 | 77.15% | 22.85% | minus 0.01 | |
| 31 Dec 2025 | 77.16% | 22.84% | 0.00 | |
| 30 Sep 2025 | 77.16% | 22.84% | – |
Major shareholders
Filings & events
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