Ellenbarrie Industrial Gases Ltd

Dematerialisation/rematerialisation status

• No dematerialisation/rematerialisation requests were received during the period.
• Registrar and Share Transfer Agent confirmed compliance with Regulation 74(5) for the quarter.
• Certificate has been disseminated on the company website.

Contract details

• Turnkey contract worth ₹481 crore for design, engineering, supply, erection, testing, commissioning, and training.
• Scope includes 1200 TPD cryogenic Air Separation Unit for 2000 TPD Coal to Ammonium Nitrate project.
• Execution over eight quarters with commissioning expected in FY29.
• Contract on Build and Transfer basis; no long-term ownership or operation.
• Largest plant Ellenbarrie has built to date, enabling 1000+ TPD capability.
• Aligns with National Coal Gasification Mission, supporting domestic ammonia, fertiliser and downstream chemicals.

Order award details

• BHEL awards Ellenbarrie Industrial Gases Limited Cryogenic ASU for 2000 TPD ammonium nitrate project; ₹480.73 crore (ex GST).

Rating details

• CRISIL assigned long-term rating A/Stable and short-term rating A1 to Rs 50 crore bank facilities.

Agency and date

• Rating letter dated September 28, 2026 from CRISIL Ratings.

Validity and surveillance

• Letter valid till March 31, 2027; ratings under continuous surveillance.

Bank facilities and instruments

• Bank facilities total Rs 50 crore: bank guarantee 25 cr and cash credit 25 cr.

Outlook

• Long-term outlook: Stable.

Material change since last rating

• No material changes disclosed.

AGM Details

• AGM held on Sept 26, 2026; all agenda items approved by majority.

AGM Details

• 52nd AGM held on Saturday, September 26, 2026.

Financial Performance FY26

• FY26 revenue grew year-on-year; core gases revenue grew faster.
• EBITDA margin robust; PAT rose about 25%.

Capex and Capacity Expansion

• Uluberia 2 merchant facility commissioned.
• Kurnool ramp-up; Bengaluru Truair cylinder facility acquired.
• East India on-site facility commissioned; revenue visibility expected.
• As of Mar 31, 2026, owned bulk/on-site capacity ~1,609 tpd.
• Capex plan: ₹2,500m FY27 and ₹2,000m FY28.

Strategy and Governance

• Plan to become a broader national player with expanded merchant and on-site network.
• Emphasis on energy efficiency, safety, and disciplined capital allocation.

AGM Details

• 52nd AGM held Sept 26, 2026 at 12:00 p.m. via VC/OAVM.
• Meeting concluded at 1:05 p.m.
• Remote e-voting opened Sept 23 and closed Sept 25, 2026.
• Scrutinizer appointed to oversee voting process.
• Live webcast of proceedings provided.

Proceedings & Voting

• Notice, financial statements, and reports were taken as read; no qualifications reported.
• Remote e-voting and on-meeting voting were provided; results pending Scrutinizer's report.

Resolutions

• Ordinary: adoption of Audited Financial Statements for the year ended March 31, 2026.
• Ordinary: re-appointment of Padam Kumar Agarwala as Managing Director on retirement by rotation.
• Ordinary: ratification of remuneration of Cost Auditors for FY 2027.

Voting Status

• Consolidated results pending Scrutinizer's report.
• Intimation to stock exchanges and posting on company, RTA, and NSDL websites to follow.

Directors & Auditors

• MD re-appointment noted; no other director changes announced.
• Statutory and secretarial auditors attended the meeting.

ASU Commissioned

• Ellenbarrie commissioned a 325 TPD Air Separation Unit at Jai Balaji Industries' Durgapur facility.
• The 15-year onsite gas-supply agreement was executed on 14 February 2025.
• The plant was commissioned on 25 September 2026.
• Revenues from the plant will commence in September 2026.
• The arrangement provides long-term recurring revenue visibility through take-or-pay terms.
• This strengthens the company's presence in Eastern India and its onsite portfolio.
• Unit is located at the customer's facility in Durgapur, West Bengal.

Ellenbarrie Industrial Gases Limited trading window closed from Oct 01, 2026 for approval/announcement of unaudited quarter ended Sept 30, 2026; reopen after 48 hours from the announcement.