Shares of Ellenbarrie Industrial Gases Ltd dropped 4.84% to ₹549.25 in early trade on Wednesday, even after the company posted a healthy set of financials for the first quarter of FY26. The stock opened lower from its previous close of ₹577.20, wiping off nearly ₹430 crore in market capitalization, which now stands at ₹7,772 crore.
The company reported a 24% year-on-year rise in revenue to ₹84 crore, up from ₹67 crore in Q1FY25 and slightly higher than ₹82 crore posted in the previous quarter. EBITDA rose 42% YoY to ₹31 crore, with margins expanding to 37% from 33% last year and 30% in the March quarter—indicating a robust operational performance.
Profit before tax also improved to ₹28 crore from ₹21 crore YoY. However, despite these positives, the decline in other income appears to have weighed on investor sentiment, triggering a sell-off.
Ellenbarrie remains a key player in the industrial gases segment with a significantly high P/E ratio of 929.40, suggesting valuation sensitivity to earnings volatility.
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