Ellenbarrie Industrial Gases Q2 FY27: revenue up 28.2% to ₹114 Cr, net profit down 2.9% to ₹36 Cr
Results · Finvezto · 5 Nov 2026 · Ellenbarrie Industrial Gases (ELLEN)
Results Q2 FY27, ₹ Cr
| Q2 FY27 | ₹ Cr | QoQ | YoY |
|---|---|---|---|
| Revenue | 114 | - | +28.2% |
| Operating profit | 40 | - | +20.2% |
| Net profit | 36 | - | -2.9% |
| Operating margin | 35.2% | - | -2.3 pp |
| Net margin | 31.1% | - | -10.0 pp |
YoY is the company's own figure. QoQ shows where our quarterly series matches the filing.
Key points
- Revenue from operations reached Rs 1,143 million in Q2 FY27, up 28% year-on-year and 16% sequentially, while consolidated EBITDA stood at Rs 407 million with a 36% margin. Earnings call
- Consolidated margins softened sequentially due to higher diesel-led freight costs and employee arrears, though gases segment margins improved to 39% from 38% in Q1 FY27. Earnings call
- The company commissioned a 325 TPD on-site plant in Durgapur under a 15-year take-or-pay contract and won a Rs 480 crore EPC order from BHEL for a 1,200 TPD cryogenic air separation unit. Earnings call
What to watch
- Management on merchant plants ramp up: We typically assume about 6 to 8 quarters for the ramp up of a merchant plant, and these plants we expect to start contributing in the second half of the next financial year.
Links
Company page · Results tracker
Anand Ganapathy K | SEBI Registered Research Analyst | INH000016630.