# Ellenbarrie Industrial Gases share price today (Ellenbarrie Industrial Gases Ltd, NSE: ELLEN)

> Ellenbarrie Industrial Gases share price today: ₹325.30 at the NSE close on 3 November 2026, down 29.8% in a year. Ellenbarrie Industrial Gases (NSE: ELLEN) is worth ₹4,591 crore, trades at a P/E of 38.0 and has closed between ₹180.95 and ₹462.70 over the past 52 weeks. > Ellenbarrie Industrial Gases Ltd's results are improving, while its P/E is near the low end of its own history over 1 year, higher than only 34% of past readings. ELLEN · Industrial Gas · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/ellenbarrie-industrial-gases-ltd

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## Key numbers

- Price: ₹325.30 (−29.8% in a year)
- P/E: 38.0× (lower than 66% of the last 1 year)
- Revenue (Jun 2026): ₹99.0 Cr (+17.9% on a year ago)
- Profit (Jun 2026): ₹35.0 Cr (+84.2% on a year ago)
- Operating margin: 38.0% (+1.0 points on a year ago)
- ROCE: 14%, FY26
- ROIC: 7.5%, against a 12.0% cost of capital: −4.5 points
- Profit that came in as cash: 78%, last 3 years

The main question: yearly earnings per share moved +16.5% while the share price moved −29.8%. ## What is the Ellenbarrie Industrial Gases share price today? Ellenbarrie Industrial Gases Ltd's share price was ₹325.30 at the close on 3 November 2026. It has been rising for 7 weeks. That is 2.7% 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 51% of the way up from that low. 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 −14% 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. ## What changed at Ellenbarrie Industrial Gases this quarter? 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. ## What are Ellenbarrie Industrial Gases' latest quarterly results? 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

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹99.0 crore | ₹84.0 crore | +17.9% |
| Profit | ₹35.0 crore | ₹19.0 crore | +84.2% |
| Earnings per share | ₹2.48 | ₹1.33 | +86.5% |
| Operating margin | 38.0% | 37.0% | +1.0 points |

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.)

## What is the Ellenbarrie Industrial Gases share price history? Ellenbarrie Industrial Gases closed at ₹325.30 on 3 November 2026, down 29.8% from ₹463.30 a year earlier (31 October 2025). Its highest weekly close since March 2016 was ₹601.45 on 11 July 2025. ### Ellenbarrie Industrial Gases share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹303.65 | +7.1% |
| 1 month ago · 1 Oct 2026 | ₹342.00 | −4.9% |
| 6 months ago · 30 Apr 2026 | ₹267.45 | +21.6% |
| 1 year ago · 31 Oct 2025 | ₹463.30 | −29.8% |
| 10 years ago · 3 Nov 2016 | ₹284.90 | +14.2% |
| Earliest weekly close in our records · 4 Mar 2016 | ₹378.00 | −13.9% |
| Highest weekly close since March 2016 · 11 Jul 2025 | ₹601.45 | −45.9% |
| Lowest weekly close since March 2016 · 13 Mar 2026 | ₹196.95 | +65.2% |
| 52-week high (weekly close) · 7 Nov 2025 | ₹462.70 | −29.7% |
| 52-week low (weekly close) · 16 Mar 2026 | ₹180.95 | +79.8% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (105 weekly closes from 4 March 2016 to 3 November 2026.)

## What is the latest news on Ellenbarrie Industrial Gases? 3 Nov 2026: Ellenbarrie Industrial Gases closed at ₹325.30, up 7.1% on the week and down 4.9% 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. ## What dividend does Ellenbarrie Industrial Gases pay? 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 4 November 2026.)

## What did Ellenbarrie Industrial Gases management say on the latest results call? 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](https://files.tijorifinance.com/insight/india/5301/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 10 August 2026.)

## What to watch in Ellenbarrie Industrial Gases' next results? 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. - What to check (from the call)
- East India onsite commissioning and first revenue - confirm delivery in the next quarterly print. - West-Central merchant construction - check physical progress and spend against the stated capital spending roadmap. - Argon pricing and gas-segment margin response - assess whether volatility remains contained as pricing follows its long-term trend. - Renewable procurement - look for disclosed power-cost benefit from the signed PPA or additional long-term arrangements. ## Which stock lists is Ellenbarrie Industrial Gases on? Ellenbarrie Industrial Gases is not on any of our India lists this week. ## Is Ellenbarrie Industrial Gases profitable? 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. 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. ## How much revenue does Ellenbarrie Industrial Gases make, and is it growing? 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. 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). ## How much of every ₹100 of sales does Ellenbarrie Industrial Gases keep? 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. 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. ## Is Ellenbarrie Industrial Gases' profit turning into cash? 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. 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. ## Where does Ellenbarrie Industrial Gases' cash go? 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. 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. ## What is Ellenbarrie Industrial Gases' P/E ratio, and how does it compare with its own history? Ellenbarrie Industrial Gases Ltd's P/E is 38.0×, near the low end of its own history: it has been lower only 34% of the time. 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. Why the multiple is where it is: over the past year earnings per share moved +16.5% while the price moved −29.8%. Earnings did better than the price, which pulled the multiple down within its own range. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Ellenbarrie Industrial Gases business getting better or worse? 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. 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. ## How much does Ellenbarrie Industrial Gases earn on its capital? 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. 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. ## Does Ellenbarrie Industrial Gases have too much debt? 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. ## What is the Ellenbarrie Industrial Gases shareholding pattern? 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. 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. ## How far is Ellenbarrie Industrial Gases from balance-sheet trouble? 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. ## How does Ellenbarrie Industrial Gases rank in its industry? 60.4 out of 100, rank 1 of 4 in Industrial Gas, with 90% of the evidence available. Ellenbarrie Industrial Gases Ltd scores 60.4 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: 19.1 + 16.6 + 12 + 12.7 = 60.4. 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. ## Which companies is Ellenbarrie Industrial Gases compared with? Ellenbarrie Industrial Gases ranks 1 of 4 Industrial Gas companies on the 4-Factor Sector Score, with 60.4 out of 100. 1. Ellenbarrie Industrial Gases Ltd this page ELLEN · breaking out · Evidence leans up · 90% evidence 60.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.1/35 · Revenue 8.2% · Profit 40.7% · Operating margin change 1 points · 100% evidence Capital efficiency 16.6/25 · ROCE 14.5% · Operating margin 38% · 100% evidence Valuation 12.0/20 · P/E 36× · PEG 1.31 · 50% evidence Relative strength 12.7/20 · Lead over its industry -3.2% · Lead over NIFTY 500 8.7% · 1 year -33.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 19.1 + 16.6 + 12 + 12.7 = 60.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Inox India Ltd](https://www.sectoralpha.in/stocks/inox-india-ltd) INOXINDIA · leader · Evidence leans up · 97% evidence 51.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.7/35 · Revenue 19.9% · Profit 9% · Operating margin change -2 points · 100% evidence Capital efficiency 21.0/25 · ROCE 33.5% · Operating margin 20% · 100% evidence Valuation 2.6/20 · P/E 65.6× · PEG 3.66 · 85% evidence Relative strength 14.7/20 · Lead over its industry 14.7% · Lead over NIFTY 500 25.8% · 1 year 56.7% · 100% evidence · 10 of 12 weeks ahead Exact sum: 12.7 + 21 + 2.6 + 14.7 = 51 · What this means: Relative strength against the index is 25.8%, and revenue and profit growth are weak. 3. [Stallion India Fluorochemicals Ltd](https://www.sectoralpha.in/stocks/stallion-india-fluorochemicals-ltd) STALLION · quiet · Evidence leans down · 80% evidence 49.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.3/35 · Revenue 6.5% · Profit 52.9% · Operating margin change 5 points · 100% evidence Capital efficiency 11.7/25 · ROCE 11.8% · Operating margin 18% · 100% evidence Valuation 10.0/20 · P/E 41× · PEG n/a · 0% evidence Relative strength 6.8/20 · Lead over its industry -3% · Lead over NIFTY 500 7.4% · 1 year -21.1% · 100% evidence · 9 of 12 weeks ahead Exact sum: 21.3 + 11.7 + 10 + 6.8 = 49.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Linde India Ltd](https://www.sectoralpha.in/stocks/linde-india-ltd) LINDEINDIA · quiet · Evidence leans down · 90% evidence 43.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.1/35 · Revenue 10.4% · Profit 22.1% · Operating margin change -5 points · 100% evidence Capital efficiency 18.8/25 · ROCE 18.2% · Operating margin 29% · 100% evidence Valuation 5.0/20 · P/E 88.2× · PEG 6.56 · 50% evidence Relative strength 0.4/20 · Lead over its industry -20.9% · Lead over NIFTY 500 -10.1% · 1 year -6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 19.1 + 18.8 + 5 + 0.4 = 43.3 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 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 Jun 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](https://www.sectoralpha.in/sectors/industrial-gas), all 4 compared on one page. ## Which companies are close to Ellenbarrie Industrial Gases in size? 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](https://www.sectoralpha.in/stocks/linde-india-ltd) ₹48,196 crore
2. [Inox India Ltd](https://www.sectoralpha.in/stocks/inox-india-ltd) ₹16,884 crore
3. Ellenbarrie Industrial Gases Ltd ₹4,347 crore
4. [Stallion India Fluorochemicals Ltd](https://www.sectoralpha.in/stocks/stallion-india-fluorochemicals-ltd) ₹2,136 crore

[All 4 Industrial Gas companies, largest first](https://www.sectoralpha.in/sectors/industrial-gas#all-companies)

### Companies close in size in other industries

1. [C.E. Info Systems Ltd](https://www.sectoralpha.in/stocks/ce-info-systems-ltd) ₹4,356 crore · Geospatial
2. [MOIL Ltd](https://www.sectoralpha.in/stocks/moil-ltd) ₹4,355 crore · Mining/Minerals
3. Ellenbarrie Industrial Gases Ltd ₹4,347 crore
4. [NRB Bearings Ltd](https://www.sectoralpha.in/stocks/nrb-bearings-ltd) ₹4,340 crore · Bearings
5. [CMR Green Technologies Ltd](https://www.sectoralpha.in/stocks/cmr-green-technologies-ltd) ₹4,336 crore

## What else do people ask about Ellenbarrie Industrial Gases? ### What is Ellenbarrie Industrial Gases's share price today? Ellenbarrie Industrial Gases Ltd's share price is ₹325.30, −29.8% over the past year. The whole company is worth ₹4,591 Cr on the market. In the last 52 weeks it traded between ₹181 to ₹463; today it is 51% of the way up from the low, 2.7% above its 200-day average (as of 3 November 2026). ### What were Ellenbarrie Industrial Gases's latest quarterly results? Ellenbarrie Industrial Gases Ltd reported revenue of ₹99.0 Cr and net profit of ₹35.0 Cr for the Jun 2026 quarter. Revenue rose 17.9% and profit rose 84.2% compared with a year earlier. Earnings per share were ₹2.48. The operating margin was 38.0%, 1.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Ellenbarrie Industrial Gases's market cap? Ellenbarrie Industrial Gases Ltd's market capitalisation is ₹4,591 Cr at a share price of ₹325.30. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Ellenbarrie Industrial Gases performing? Ellenbarrie Industrial Gases Ltd's share price has been rising for 7 weeks. In its latest quarter, revenue rose 17.9% and profit rose 84.2% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 15 weeks running (as of 3 November 2026). ### Will Ellenbarrie Industrial Gases's share price go up? This page does not forecast Ellenbarrie Industrial Gases Ltd's share price. What it shows instead: the share price is ₹325.30, and it has been rising for 7 weeks. Its P/E of 38.0× is higher than 34% of its own last 1 years (as of 3 November 2026). ### Where is Ellenbarrie Industrial Gases in its business cycle? Ellenbarrie Industrial Gases Ltd's FY26 operating margin was 34.0%, against a 13-year range of 8.0% to 35.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 38.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Ellenbarrie Industrial Gases story? The main question: yearly earnings per share moved +16.5% while the share price moved −29.8%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Ellenbarrie Industrial Gases a stock worth studying right now? What the numbers show: Ellenbarrie Industrial Gases Ltd's results are improving, while its P/E is near the low end of its own history over 1 year, higher than only 34% of past readings. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Ellenbarrie Industrial Gases share price forecast for 2026? What management itself guided: FY27 capital spending ₹250 crore and FY28 capital spending ₹200 crore. This is research, not advice. We’re not SEBI-registered.