Ellenbarrie Industrial Gases Limited · NSE:ELLEN
Ellenbarrie Industrial Gases — Q1 FY26 Earnings Presentation
34 slides from Ellenbarrie Industrial Gases's earnings presentation, Aug 6, 2025
Slide 1: Exchange filing cover letter for investor presentation
August 06, 2025 To To National Stock Exchange of India Limited BSE Limited Exchange Plaza New Trading Ring, 2nd Floor, Rotunda Building, P.J. 5th Floor, Plot No. C/1, G Block, Bandra – Kurla Towers, Dalal Street, Mumbai – 400 001 Complex, Bandra (E), Mumbai – 400 051 SYMBOL: ELLEN SCRIP CODE: 544421
Slide 2: Investor Presentation Q1FY26 August 2025
Investor Presentation Q1FY26 August 2025
Slide 3: Disclaimer
Disclaimer 2 Safe Harbour Statement This Release / Communication, except for the historical information, may contain statements, including the words or phrases such as ‘expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should’
Slide 4: Table of Contents
Table of Contents 3 1 Financial and Operating Performance 2 Company Overview 3 Industry Overview 4 Historical Financial Statements
Slide 5: Financial and Operating Performance
Financial and Operating Performance
Slide 6: Financial Highlights
Financial and Operating Performance Financial Highlights 5 REVENUE (₹ Mn) EBITDA & EBITDA Margin PAT & PAT Margin Financial Highlights 24.2% Y-Y 40.2% Y-Y 15.6% Y-Y 1.3% 2.5% • Revenue increased by 24.2% year-on-year to ₹836 24.8% Q-Q million, with a sequential growth of 1.3% quarter-on- Q-Q Q-Q 190
Slide 7: Operational Highlights (1/2)
Financial and Operating Performance Operational Highlights (1/2) 6 Distribution of Revenue By Customer Type (₹ Mn) Operational Highlights 137 141 • Continued growth fueled by commissioning of new facilities 96 126 119 over coming quarters. We expect momentum to continue into 122 FY26 532 549 440 • T
Slide 8: Operational Highlights (2/2)
Financial and Operating Performance Operational Highlights (2/2) 7 Distribution of Revenue By End Use Segment (%) Operational Highlights Q1FY25 Q1FY26 • During the quarter new capacities are gradually ramping up. 23% Pharma & Chemicals 24% • Customer profile by end-use segment getting further divers
Slide 9: Acquisition of Truair Industrial Gases
Financial and Operating Performance Acquisition of Truair Industrial Gases 8 Acquired Entity Business Background Industry Rationale for Acquisition Truair Industrial Gases, Truair Industrial Gases is a business Company operates in the industrial The acquisition adds retail presence a partnership fir
Slide 10: Company Overview
Company Overview Mame>oemerm = See ti ee ad
Slide 11: The Evolution
Company Overview The Evolution 10 Major Events and Milestones ❖ Became a 100% Indian company - Air Water Inc. divested entirely ❖ A pipeline supply agreement with Jairaj Ispat Ltd., for setting up 600 ❖ An O&M contract 2023 TPD plant with govt. owned steel company ❖ Contract to build a plant in 2021
Slide 12: Ellenbarrie – At a Glance
Company Overview Ellenbarrie – At a Glance 11 Market Leader 50+ In 3 states – West Bengal, Andhra Pradesh & Telangana1 years rich legacy1 Business Segments Types of Customers Sale of gases, related Project engineering services Bulk Package Onsite products and services Revenue from Operations (FY25)
Slide 13: Comprehensive Product Portfolio, Catering to Diverse Industries
Company Overview Comprehensive Product Portfolio, Catering to Diverse Industries 12 Enabling the Company to Limit Reliance by Generating Revenue across End-use Industries 1 Wide Variety of Industrial Gases Revenue across End-use Segments1 Oxygen Nitrogen Argon 37.03% Acetylene Hydrogen Carbon Dioxid
Slide 14: Long Standing Customer Relationships Leading to Stable Cashflows
Company Overview Long Standing Customer Relationships Leading to Stable Cashflows 13 Presence across Multiple Modalities of Supply Provides Flexibility and Convenience to Customers Bulk Customers 66.75% Company owned 328 5 yrs. infrastructure at customer’s Demonstrate stickiness & lower Avg. contrac
Slide 15: High Customer Stickiness & Minimized Concentration Risks
Company Overview High Customer Stickiness & Minimized Concentration Risks 14 Deep Customer Relationships & Long-term Operating History Revenue from Repeat Customers* Long Standing Relationships *Customers who have purchased for at least 2 consecutive yrs.1 Revenue on Basis of Years of Relationship2
Slide 16: Diversified Customer Base
Company Overview Diversified Customer Base 15 Established Relationships with Several Indian Customers across Industries Healthy Mix of Private and Government Marquee Client Base Customers1 Engineering & Railways, aviation, Healthcare Steel Infrastructure Aerospace & Space 27.33% FY 2025 72.67% Defen
Slide 17: Reliable Supplier to India's Defence, Railways & Space Research
Company Overview Reliable Supplier to India’s Defence, Railways & Space Research 16 Repeat Business from Notable Organizations Defense & Space Research Railways Eastern Naval Command Indian Air Force bases Multiple railway workshops bases Railway hospitals across East and South Customers Government
Slide 18: Expansive Operational & Distribution Capabilities (1/2)
Company Overview Expansive Operational & Distribution Capabilities (1/2) 17 Strategically Located Facilities in East and South India Providing Proximity to Key Customers Market Leader in West Bengal, Andhra Pradesh & Telangana 1 3rd 1st Highest transport Hydrogen tankers, cylinders Electrolyser set
Slide 19: Expansive Operational & Distribution Capabilities (2/2)
Company Overview Expansive Operational & Distribution Capabilities (2/2) 18 Cylinder Filling Onsite Facilities Bulk Distribution Facilities Station Facility Gross Capacity Utilisation Contract Type of Facility Gross Capacity2 Capacity Utilisation 39,560+ Location Capacity2 Years Order Location (FY25
Slide 20: Operational KPIs
Company Overview Operational KPIs 19 Fiscal 2023 Fiscal 2024 Fiscal 2025 Facilities Operated 6 8 9 Number of Facilities under Construction or 1 2 1 Implementation1 Total Operational Capacity (tons Per Day) 591 3,691 3,861 Capacity under Construction 600 390 220 (Tons Per Day)2 Number of Bulk Custome
Slide 21: Catering to Diverse End-use Industries
Company Overview Catering to Diverse End-use Industries 20 Pharma and Chemicals Steel Nitrogen Hydrogen Argon, Helium Oxygen Nitrogen Argon Oxygen • Air Enrichment in blast furnace • Converter blowing for • Converter • Fermentation • Controlled atmosphere in Reactors & Synthetic Air • Reactions for
Slide 22: Experienced Board of Directors and Management Team
Management Team Experienced Board of Directors and Management Team 21 Strong Team with Proven Track Record of Performance Padam Kumar Agarwala Varun Agarwal Chairman & Managing Director Joint Managing Director 40+ years experience 15+ years experience • Bachelor’s degree in commerce from St. Xavier’
Slide 23: Establishing a Pan-India Presence
Growth Strategies Establishing a Pan-India Presence 22 Servicing More Customers & Increasing Access to Customers via Additional Capacities & Strategic Acquisitions 1 Create a Healthy Mix of Merchant and Onsite Business Onsite Business Merchant (Bulk & Packaging) Business • Infrastructure integration
Slide 24: Expanding the Product Portfolio – Gases & Plant Manufacturing
Growth Strategies Expanding the Product Portfolio – Gases & Plant Manufacturing 23 Innovating and Updating Offerings to Target Evolving Requirements of Customers Initiate Plant Manufacturing to become a One-stop Solution for 4 Expand the Portfolio of Gases and Target Additional Industries 5 Customer
Slide 25: Industry Overview
Industry Overview
Slide 26: Industrial Gases Market is set for Substantial Expansion
Industry Overview Industrial Gases Market is set for Substantial Expansion 25 Expected to grow at ~7.5% CAGR from 2024 to 2028, backed by End-Use Industries India Industrial Gases Market1,2 Market Segmentation by Product Market Segmentation by Application (By Value, ($1.31 Bn) in CY 2024)1 (By Value
Slide 27: Opportunities in Oxygen & Argon
Industry Overview Opportunities in Oxygen & Argon 26 Oxygen Market in India Argon and Argon Mixtures Market in India Market Segmentation by Application, by Value Market Segmentation by Application, by Value Value (USD billion) Volume (Million tons) (USD 0.47 billion) in 2024 Value (USD billion) Volu
Slide 28: Opportunities in Hydrogen & Nitrogen
Industry Overview Opportunities in Hydrogen & Nitrogen 27 Hydrogen Market in India Nitrogen Market in India Market Segmentation by Application, by Value Market Segmentation by Application, by Value Value (USD billions) Volume (million tons) (USD 0.20 billion) in 2023 Value (USD billion) Volume (Mill
Slide 29: Financial Statements
Financial Statements Seca Meee SOS ee, Wwe
Slide 30: Financial Snapshot
Financial Statements Financial Snapshot 29 Profit & Loss (INR mn) Q1FY26 Q1 FY25 Y-Y (%) Q4FY25 QoQ (%) Revenue from Operations 836.3 672.9 24.3% 824.7 1.4% Other Income 68.3 79.3 113.9 Total Income 904.6 752.2 20.3% 938.6 (3.6%) Expenses Cost of Material Consumed 8.6 8.2 4.9% 10.6 (19.2%) Purchase
Slide 31: Profit & Loss Statement
Financial Statements Profit & Loss Statement 30 (INR mn) FY23 FY24 FY25 Revenue from operations 2,051.07 2,694.75 3,124.83 Other Income 186.03 207.28 359.49 Total Income 2,237.10 2,902.03 3,484.32 Cost of materials consumed 41.14 38.28 31.94 Purchases of stock-in-trade 222.23 533.77 333.02 Changes i
Slide 32: Balance Sheet
Financial Statements Balance Sheet 31 Assets (INR mn) FY23 FY24 FY25 Equity and Liabilities (INR mn)` FY23 FY24 FY25 Property, plant and equipment 1,814.95 3,292.98 3,375.87 Shareholder's equity 3,630.61 4,098.93 4,933.59 Capital work-in-progress 714.05 4.16 453.00 Borrowings 561.35 949.81 1,467.25
Slide 33: Cash Flow Statement
Financial Statements Cash Flow Statement 32 (INR mn) FY23 FY24 FY25 Cash flow from operating activities Profit before tax 372.64 642.18 1,078.25 Operating profit before working capital changes 407.61 670.47 1,169.79 Cash generated from operations 495.45 498.15 116.51 Income tax paid (107.98) (60.68)
Slide 34: Thank You
Thank You Ellenbarrie Industrial Gases Ltd. Regd.Office: 3A, Ripon Street, Kolkata – 700016, West Bengal, India complianceofficer@ellenbarrie.com Investor Relations Advisors: ellenbarrie@raadhiadvisors.com
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