Ellenbarrie Industrial Gases Limited — Q2FY27 earnings call summary

Filed 06 November 2026 · Official transcript

FY27-FY28 capex plan of 450 crore on track; focus on utilization, merchant capacity additions in north/central India
No imminent capital raise; capex funded by cash and project-level debt
Long-term gases segment margin target ~40%; argon contribution increased to mid-teens percent of sales
Q2 FY27 revenue from operations 1,143 million, +28% y-y, +16% q-q; H1 FY27 revenue 2,130 million, +23% y-y
Commissioned new 325 TPD on-site plant in Durgapur under 15-year take-or-pay contract; full benefit expected from Q3 FY27
Awarded 480 crore EPC contract from BHEL for 1,200 TPD air separation unit in Odisha; execution over 8 quarters, commissioning in FY29
Merchant plants in north and central India expected online in H2 FY28 with 6-8 quarters ramp-up
No current plans for international EPC projects; focus remains on India