Ellenbarrie Industrial Gases share price today

Ellenbarrie Industrial Gases Ltd's share price was ₹347.55 at the close on 4 November 2026. It has been rising for 7 weeks. That is 9.7% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹181 and ₹463, and at that close it sat 59% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Ellenbarrie Industrial Gases Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 15 weeks in a row.

Over the last 11 years the share price moved −8% while the NIFTY 500 moved +249%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

1. Indian funds and insurers (DIIs) cut their stake for 3 quarters in a row

   From 15.4% to 8.7% of the company by the September 2026 quarter.

3. Profit up on a year earlier for 5 quarters in a row

   In the June 2026 quarter profit was ₹35 crore, +84.2% on a year earlier.

   Why: Profit rose because the gas business did better, and the company also paid less to borrow and less tax.

   Next results: check whether the East India onsite plant starts bringing in money in Q2 FY27, since it has already slipped.

   From the earnings call on 10 Aug 2026.

For April to June 2026 (the quarter ended 30 June 2026), Ellenbarrie Industrial Gases reported revenue of ₹99.0 crore, up 17.9% from ₹84.0 crore a year earlier, and a profit of ₹35.0 crore, up 84.2% from ₹19.0 crore.

Ellenbarrie Industrial Gases results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Ellenbarrie Industrial Gases' management discussed these results on a call held on 10 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Ellenbarrie Industrial Gases closed at ₹347.55 on 4 November 2026, down 24.9% from ₹462.70 a year earlier (7 November 2025). Its highest weekly close since March 2016 was ₹601.45 on 11 July 2025.

Ellenbarrie Industrial Gases share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

105 weekly closes from 4 March 2016 to 4 November 2026.

4 Nov 2026: Ellenbarrie Industrial Gases closed at ₹347.55, up 12.7% on the week and up 1.6% on the month. 10 Aug 2026: Ellenbarrie Industrial Gases held its results call for April to June 2026. Management guided: FY27 capital spending ₹250 crore and FY28 capital spending ₹200 crore.

Earlier

• Results for April to June 2026: Revenue up 17.9% and profit up 84.2% on a year earlier.

Ellenbarrie Industrial Gases has paid no dividend on the NSE since 1 April 2021, the start of the period we checked.

No. Ellenbarrie Industrial Gases Ltd paid out 0% of its profit as dividends in each of its last 13 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 10 August 2026, Ellenbarrie Industrial Gases' management guided: FY27 capital spending ₹250 crore and FY28 capital spending ₹200 crore.

“The growth in our EBITDA margins, however, has not been primarily on account of argon pricing. That has had a very limited impact this quarter.”Varun Agarwal, Joint Managing Director, on the call for April to June 2026

What management guided

• East India onsite plant at 320 TPD to contribute first revenue in July to September 2026.
• Operating margin expected to stabilize at 40% or higher as capacity expansion unfolds.
• North and West-Central merchant plants together planned at approximately 450-500 TPD; commissioning timing not stated.
• Merchant plants expected to reach an 80-90% utilization sweet spot over 18-24 months; construction takes about 18 months and payback approximately 3 years after stable operations.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 10 August 2026.

When Ellenbarrie Industrial Gases reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: East India onsite commissioning and first revenue - confirm delivery in the next quarterly print.

Ellenbarrie Industrial Gases is not on any of our India lists this week.

Ellenbarrie Industrial Gases Ltd earned ₹35.0 Cr of net profit in the Jun 2026 quarter, +84.2% on the same quarter a year earlier. That is the 5th quarter in a row of profit growth. Full-year FY26 profit was ₹104 Cr. That is 35.4% of the quarter's revenue. The same quarter a year earlier earned ₹19.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

1 of the last 12 reported quarters were loss-making.

For the full year, FY26 profit was ₹104 Cr (+25.3% on the year before).

Why profit moved: revenue changed +17.9% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +43.0% and revenue +9.2%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Ellenbarrie Industrial Gases Ltd reported ₹99.0 Cr of revenue in the Jun 2026 quarter, +17.9% on the same quarter a year earlier. That is the 3rd quarter in a row with growth on the year before. Over 10 years it has grown 13.5% a year on average. The last full year, FY26, came in at ₹342 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹356 Cr.

FY26 revenue was ₹342 Cr, +9.6% on the year before.

Recent pace: the last four quarters grew +9.2% on average, against 13.5% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +8.2%, against +57.2% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +40.7%, against +159.3% a year (rolling over).

Ellenbarrie Industrial Gases Ltd's operating margin was 38.0% in the Jun 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 8.0% and 35.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +1.4 percentage points on the year while gross margin changed −0.8 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years, 78% of Ellenbarrie Industrial Gases Ltd's reported profit came in as cash from its operations, so most of the profit is real cash. In FY26 it brought in ₹133 Cr of operating cash against ₹104 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹168 Cr of spending on assets, free cash was −₹35.0 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 78% of profit came in as cash: the cash cycle got 429 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 429 days longer. The next section looks at where the cash is stuck.

Ellenbarrie Industrial Gases Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 63 days in FY26, up from −366 days in FY21. It spent ₹327 Cr on assets over the last 3 years. Customers take 68 days to pay, and stock sits for 131 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹342 Cr, each day of that cycle ties up about ₹0.9 Cr, so roughly ₹59.0 Cr is tied up in the business at any time.

FY26: customers took 68 days to pay and stock sat for 131 days, about 4.3 months of sales sitting as stock, for a full cycle of 63 days, longer than FY21's −366.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 131 days. Customers pay about 68 days after that. Suppliers are paid at 135 days. Together that makes the 63-day cycle.

Spending on assets: ₹327 Cr over the last 3 years, against ₹52.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹78.0 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

Ellenbarrie Industrial Gases Ltd's P/E is 40.6×, in the middle of its own history: higher than 46% of past readings. Its usual P/E (the middle reading) is 43.4×, over 1 year of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved +16.5% while the price moved −24.9%. Earnings did better than the price, which pulled the multiple down within its own range.

In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple.

Ellenbarrie Industrial Gases Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: with too little history, we say so rather than guess a direction.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Ellenbarrie Industrial Gases Ltd earned a ROCE of 14% in FY26. That is up from a low of 1% in FY14. Its return on capital used (ROIC) is 4.5 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses.

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

It comes from a 30.4% net margin and 0.26× asset turnover (sales divided by assets).

Why the return is what it is (FY26): a 30.4% net margin × 0.26× asset turnover × 1.33× leverage (assets divided by equity) ≈ 10.5% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed.

The key test, return on capital used minus the cost of capital: 7.5% − 12.0% = −4.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

The 7.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 8.6%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

Ellenbarrie Industrial Gases Ltd has total debt of ₹184 Cr against shareholder equity of ₹977 Cr as of Jun 2026, so its debt is 0.19× its equity, which is very little. Year by year, that ratio went from 15.62 in FY15 to 0.19 in FY26. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Domestic institutions raised their stake in Ellenbarrie Industrial Gases Ltd by 8.7 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 8.7% of the company. Promoters moved +2.2 points over the same period, to 77.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Domestic institutions: +8.7 points over 8 quarters, to 8.7%; Promoters: +2.2 points over 8 quarters, to 77.2%; Foreign institutions: +0.7 points over 8 quarters, to 0.7%.

Why the owners changed: domestic institutions drove it (+8.7 points), together with promoters (+2.2 points). They raised their stake step by step.

For Ellenbarrie Industrial Gases Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

60.2 out of 100, rank 1 of 4 in Industrial Gas, with 86% of the evidence available.

Ellenbarrie Industrial Gases Ltd scores 60.2 out of 100 against the 4 companies it is compared with in Industrial Gas, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 18.9 + 16.6 + 12 + 12.7 = 60.2. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Ellenbarrie Industrial Gases ranks 1 of 4 Industrial Gas companies on the 4-Factor Sector Score, with 60.2 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Industrial Gas, all 4 compared on one page.

Ellenbarrie Industrial Gases is the 3rd largest of 4 Industrial Gas companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Linde India and Inox India. Just below it: Stallion India Fluorochemicals.

Industrial Gas companies close in size

1. Linde India Ltd ₹48,196 crore
2. Inox India Ltd ₹18,174 crore
3. Ellenbarrie Industrial Gases Ltd ₹4,347 crore
4. Stallion India Fluorochemicals Ltd ₹2,136 crore

All 4 Industrial Gas companies, largest first

Companies close in size in other industries

889. Shakti Pumps (India) Ltd ₹4,364 crore · Solar Pumps
890. Latent View Analytics Ltd ₹4,357 crore · IT Enabled Services
891. Ellenbarrie Industrial Gases Ltd ₹4,347 crore
892. NRB Bearings Ltd ₹4,340 crore · Bearings
893. CMR Green Technologies Ltd ₹4,336 crore

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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