ALFA Finder
| Market Cap | ₹5,073.68 CrGeneral Industrials |
|---|---|
| Revenue TTM | ₹356.67 CrTrailing 12 Months |
| Execution | 24 MonthsProject Timeline |
| Order from | Bharat Heavy Electricals Limited (BHEL) |
| Execution period | 24 months |
| Deal value | ₹480.73 Cr |
| Share of market cap | 9.5% |
| Share of annual revenue | 134.8% |
Key highlights
- Total contract value stands at ₹480.73 crore excluding GST
- Project involves a 1200 TPD Cryogenic Air Separation Unit (ASU)
- Execution timeline is set for 24 months on a turnkey basis
- Facility to be located at Bandhabal, Jharsuguda district, Odisha
- Scope includes design, engineering, testing, and performance guarantee
Project Scope and Timeline
Ellenbarrie Industrial Gases has been tasked with the comprehensive development of a Cryogenic Air Separation Unit (ASU) with a capacity of 1200 TPD. This unit will support BHEL's proposed Coal to Ammonium Nitrate project, which aims for a 2000 TPD output in Jharsuguda, Odisha. The contract is structured on a turnkey basis, encompassing design, engineering, supply, erection, and pre-commissioning.
Additionally, the company is responsible for trial run operations, operator training, and providing a demonstration of performance guarantees. The entire execution, including the supply of spares and final handover, is scheduled to be completed within 24 months.
Client Profile: BHEL
Bharat Heavy Electricals Limited (BHEL) is India's largest engineering and manufacturing enterprise in the energy and infrastructure sectors. As a Maharatna Central Public Sector Enterprise, BHEL plays a pivotal role in the country's power generation and industrial equipment landscape. This specific order pertains to BHEL's expansion into coal gasification and downstream chemical production, specifically for ammonium nitrate.
Partnering with a PSU of this scale underscores Ellenbarrie's capability to manage large-scale industrial gas infrastructure projects for high-priority national energy initiatives.
Strategic Business Impact
- The ₹480.73 crore order value exceeds the company's total trailing twelve-month revenue of ₹356.67 crore.
- Strengthens the company's presence in the industrial gas infrastructure and turnkey project segment.
- Provides high revenue visibility over the next two fiscal years during the 24-month execution period.
- Demonstrates technical expertise in high-capacity 1200 TPD Cryogenic Air Separation Units.
- Expands the geographical footprint within the resource-rich industrial belt of Odisha.
Financial Performance Context
Ellenbarrie Industrial Gases currently maintains a market capitalization of ₹5,073.68 crore. For the latest quarter ending June 2026, the company reported a net profit of ₹34.96 crore, representing an 86.84% growth compared to the same period the previous year. Operating revenue for the quarter rose by 18.04% YoY to ₹98.72 crore.
The company operates with a high durability score of 80 and a promoter holding of 77.15%. In terms of valuation, the stock carries a P/E ratio of 42.05, while the broader industrial gas industry average stands at 31.29.
| Share price | ₹360 |
|---|---|
| Market capitalisation | ₹5,073.68 Cr |
| Revenue (annual) | ₹341.58 Cr |
| Net profit (annual) | ₹104.40 Cr |
| Revenue (latest quarter) | ₹98.72 Cr+12.90% vs previous quarter |
| Net profit (latest quarter) | ₹34.96 Cr+52.78% vs previous quarter |
| P/E (TTM) | 42.05×Sector 53.56× |
| Promoter holding | 77.15%0.00% QoQ |
| FII holding | 1.08%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Ellenbarrie Industrial Gases Limited announcing the awarding of a contract by Bharat Heavy Electricals Limited. Market figures from a third-party data provider.
