Interim report
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November 04, 2026 To National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra – Kurla Complex, Bandra (E), Mumbai – 400 051 SYMBOL: ELLEN To BSE Limited New Trading Ring, 2nd Floor, Rotunda Building, P.J. Towers, Dalal Street, Mumbai – 400 001 SCRIP CODE: 544421 Sub: Outcome of Board Meeting held on Wednesday, November 04, 2026. Ref: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015. Dear Sir/ Madam, Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’), and other regulations, as applicable, we hereby inform you that the Board of Directors of the Company at its meeting held today i.e. Wednesday, November 04, 2026, have, inter alia, considered and approved the following matters: 1. Unaudited Financial Results for the second quarter and half year ended September 30, 2026. Based on the recommendation of the Audit Committee, the Board of Directors of the Company has approved the Unaudited Financial Results of the Company for the second quarter and half year ended September 30, 2026. We attach herewith a copy of the approved Unaudited Financial Results along with the Limited Review Reports of the Auditors as Annexure-1. We are arranging to publish extract of these results along with Quick Response Code in the newspapers as per Regulation 47 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board Meeting commenced at 06:26 P.M. (IST) and concluded at 07:00 P.M. (IST). The same has also been disseminated on the website of the Company at https://ellenbarrie.com/ We request you to kindly take the above on record. Thanking You. Yours faithfully, For Ellenbarrie Industrial Gases Limited Aditya Keshri Company Secretary and Compliance Officer Membership No.: A73390
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Infinity Benchmark, Unit 1302 MSKA & Associates LLP e A (Formerly known as M S K A & Associates) Kolkata, West Bengal 700 091 Chartered Accountants Independent Auditor’s Review Report on unaudited financial results of Ellenbarrie Industrial Gases Limited for the quarter and year to date ended September 30, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To The Board of Directors of Ellenbarrie Industrial Gases Limited 1. We have reviewed the accompanying statement of unaudited financial results of Ellenbarrie Industrial Gases Limited (hereinafter referred to as ‘the Company’) for the quarter ended September 30, 2026 and the year to-date results for the period from April 01, 2026 to September 30, 2026 (‘the Statement’) attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘the Regulations’). 2. This Statement, which is the responsibility of the Company’s Management and has been approved by the Company’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 ‘Interim Financial Reporting’, prescribed under Section 133 of the Companies Act, 2013 (‘the Act’) read with relevant rules issued thereunder (‘Ind AS 34’) and other recognised accounting principles generally accepted in India and is in compliance with the Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 and other recognised accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of the Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For M S K A & Associates LLP (Formerly known as M S K A & Associates) Chartered Accountants ICAI Firm Registration No.105047W/W101187 \‘\' Aditya Pawankumar Jalan Partner Membership No.: 148511 UDIN: 26148511PRIBO06077 Place: Kolkata Date: November 04, 2026 Registered Office: 602, Raheja Titanium, Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India Tel: +91 22 6974 0200 | LLPIN: ACT-3789 Ahmedabad | Bengaluru | Chandigarh | Chennai | Coimbatore | Goa | Gurugram | Hyderabad | Kochi| Mumbai | Pune www.mska.in
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Ellenbarrie Industrial Gases Limited Registered Office : 3A Ripon Street, Kolkata, West Bengal, Indfa, 700016 CIN: L24112WB1973PLC029102, Website: www. ellenbarrie.com, Email: complianceofficerellenbarrie.com Statement of Unaudited Financial Resuits for the quarter and six months ended 30 September 2026 (2 in million) E3 Particulars Quarter ended Six months ended Year ended No. 30 September 30 June 30 September | 30 September | 30 September | 31 March 2026 2026 2025 2026 2025 2026 Unaudited Unaudited Unaudited Unaudited Unaudited ‘Audited 1 [income: (2) Revenue from operations 1,143.18 9%7.16 891.73 2,130.34 1,728.03 3,415.82 (b) Other income 17111 170.60 126.11 341.71 194,40 500.49 Total income 1,314.29 1,157.76 1,017.84 2,472.05 1,922.43 3,916.31 2 [Expenses: (@) Cost of materials consumed 13.70 1.07 8.9 4.7 17.53 38.56 (b) Purchase of stock-in-trade 11.17 98.86 103.80 210.03 1821 361.80 (c) Changes in inventories of finished goads & stock-n-trade 8.41 (4.46) (28.80) 3.95 22.43) 4.70) (d) Power expenses 257.44 220.35 184.40 477.79 360.88 737.21 (€) Employee benefits expense 85.85 73.03 65.06 158.88 128.03 280.35 (f) Finance costs 24.85 19.52 1055 44.37 56.64 94.90 (@) Depreciation and amortization expense 69.42 62.85 50.75 13227 101.62 214.82 (h) Impairment loss on financial assets 4.8 10.19 2.23 15.07 13.46 419 (i) Other expenses 259.33 201.77 22128 461.10 406.69 836.24 [Total expenses 835.05 693.18 618.23 1,528,23 1,244.53 2,563.37 3_|Profit before tax (1-2) 479.24 46458 399.61 943.82 677.90 1,352.94 4 [Tax Expense: (2) Current tax (including prior year taxes) 91.08 93.51 7.79 184,59 13485 234.24 (b) Deferred tax charge 31.69 21.45 (45.35) 53.14 (11.24) 74.70 5_[Profit arter tax (3-4) 356.47 343.62 367.17 706.09 554.29 1,044.00 6 [Other comprehensive income (OCT) (2) Items that will not be reclassifled to profit and loss - Changes fn far value of equity fnstruments through OCI - - - - - (2.83) - Remeasurement of defined benefit plan (5.89) 1.09 (0.83) (4.80) (1.66) 4.36 (b) Income tax relating to above ftems 1.48 ©.27) (5.54) 1.21 5.33) 3.42) Other comprehensive income for the period/year (4.41) 0.82 16.37) (3.59) 16.99) (1.89) 7_|Total comprehensive income for the perlod/year (5+6) 352.06 350.44 360.80 702.50 547.30 1,042.11 8 [Paid-up Equity Share Capital 281.87 281,87 281.87 281,87 281.87 281.87 (Face value of ¥ 2 each, fully paid up) 9_[Other Equity 9.489.54 10 [Earnings per equity share (Face value of ¥ 2 each): (¥ ) Basic and Diluted (%) 2.53 2.48 261 5.01 4.07 754 #Not annualised except for year end (This space has been intentionally left blank)
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Ellenbarrie Industrial Gases Limited Unaudited Balance Sheet as at 30 September 2026 (% in million) Asat Asat sr. No. Particulars 30 September 2026 | 31 March 2026 Unaudited Audited A |Assets 1 |Non-current assets (a) Property, plant and equipment 5,492.24 4,490.45 (b) Capital work-in-progress - 779.04 (c) Right-of-use assets 132.48 42.19 (d) Other intangible assets 1.84 2.06 () Financial assets (i) Investments 2,992.78 3,142.55 (ii) Other financial assets 1,051.62 1,039.30 () Non current tax asset (net) 14,83 14.83 () Other non-current assets 809.78 489.53 Total non-current assets 10,495.57 9,999.95 2 |Current assets (a) Inventories 142.40 141.68 (b) Financial assets (i) Investments 794.92 829.72 (ii) Trade receivables 787.55 632.79 (iii) Cash and cash equivalents 2.66 12.25 (iv) Bank balances other than cash and cash equivalents 4.65 . (v) Loans 515.00 555.00 (vi) Other financial assets 508.25 802.11 (c) Other current assets 94.27 16.00 ITotal current assets 2,849.70 2,989.55 Total assets 13,345.27 12,989.50 B |Equity and liabilities 1 |Equity (a) Equity share capital 281.87 281.87 (b) Other equity 10,192.04 9,489.54 Total equity 10,473.91 9,771.41 Liabilities 2 |Non-current liabilities (2) Financial liabilities (1) Borrowings 735.58 594.18 (i) Lease liabilities 41.29 37.72 (iif) Other financial tiabilities 32.88 31.25 (b) Provisions 91.59 82.55 (c) Deferred tax liabilities (net) 440.03 388.10 (d) Other non-current liabilities 212.14 217.07 Total non-current Habilities 1,553.51 1,350.87 3 [Current liabilities (a) Financial liabilities (1) Borrowings 649.91 1,206.95 (i) Lease labilities 5.24 5.32 (ifi) Trade payables - Total outstanding dues of micro enterprises and small enterprises 3.44 1.19 - Total outstanding dues of creditors other than micro enterprises and small enterprises 144.38 145.09 (iv) Other financial liabilities 304.12 360.98 (b) Other current liabilities 98.57 96.87 () Provisions 14,31 12.22 (d) Current tax liabilities (net) 97.88 38.60 Total current liabilities 1,317.85 1,867.22 [ Total liabilities 2,871.36 3,218.09 [ Total equity and liabilitles 13,345.27 17,989.50
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Ellenbarrie Industrial Gases Limited Unaudited Statement of Cash Flows for the six months ended 30 September 2026 (@ in million) Period ended Period ended Particulars 30 September 2026 | 30 September 2025 Unaudited Unaudited A [Cash flows from operating activities Profit before tax 943.81 677.90 |Adjustments for: Depreciation and amortization expense 132.27 101.62 Finance costs 44.37 56.64 Impairment loss on financial assets 15.07 13.46 Gain on fair valuation of investments (30.35) (1.75) Net loss on foreign currency transactions 1.69 - Interest income (303.67) (159.06) Liabilities written back (2.48) - (Gain) / Loss on sale of property, plant and equipment 1.15) 1.89 Operating profit before working capital changes 799.57 660.70 [Movement in working capital: |Adjustment for (Increase) / decrease in operating assets: Trade receivables (169.83) 49.79 inventories 0.72) 9.63 Other financial assets (.72, (1.79) Other assets (77.34) 72,26 |Adjustment for increase / (decrease) in operating Habilitfes: ‘Trade payables 2.33 (38.66) Other financial liabilities 11.19 4.07 Provisions 33 (3.24)] Other liabilities (.23) (4.11) Cash generated from operations 561.57 748.65 income tax paid (net of refunds) (125.31) (89.42) Net cash generated from operating activities @ 436.26 659.23 8. [Cash flows from fnvesting activities Purchases of property, plant and equipment, including capital work-in-progress, finance lease receivable, other| (738.43) (541.88) intangible assets, capital creditors and capital advance Proceeds from disposal of property, plant and equipment 145 1.74 Interest income received 37.23 143.49 investments redeemed during the period 495.96 626.80 Investments made during the period (270.42) (1,862.40) [Redemption from / (Investments made) in bank deposits during the period 230.78 (1,214.90) Loans given during the period (110.00) (180.00) Loans recovered during the period 150.00 61.50 [Payment made for acquisition of manufacturing unit - (54.00) Net cash generated from / (used in) fnvesting activities ® 96.27 (3,019.65). C. |Cash flows from financing activities Proceeds from issue of equity shares (net of issue expenses) - 3,741.46 Proceeds from non-current borrowings 20453 193.77 [Repayment of non-current borrowings (47.26) (1,303.13)] [Repayment of current borrowings (net) (672.91), (202.37) [Payment of Lease liabilities (including interest) (92.69) (4.10)] Finance cost paid (33.79) (59.38) Net cash (used in) / generated from financing activities © (542.12) 2,366.25 Net (decrease) / increase in cash and cash equivalents. (A+B+C) (9.59) 5.83 (Cash and cash equivalents as at the beginning of the period 12.25 1.81 (Cash and cash equivalents as at the end of the period 2.66 7.64 (This space has been intentionally left blank)
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Eilenbarrie Industrial Gases Limited Segment wise Revenue, Results, Assets and Liabilities for the quarter and six months ended 30 September 2026 (@ in miltion) sr. Particulars Quarter ended Six months ended Year ended No. 30 September 30 June 30 September | 30 September | 30 September 2026 2026 2025 2026 2025 31 March2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 [Segment revenue 2) Gases, related products & services 1,120.84 973.57 879.33 2,094.41 1,688.37 3,340.42 b) Project Engineering 2.34 13.59 12.40 35.93 39.66 75.40 | Total 1,143.18 987.16 891,73 2,130.34 1,728.03 3,415.82 2 |Segment results ) Gases, related products & services 433.63 367.01 362.01 800.64 665.80 1,283.89 b) Project Engineering 9.94) 3.04 3.41 (6.90) 6.41 (15.08) [Total 423.69 370.05 365.42 793.74 672.21 1,268.81 Less: i) Finance cost 6.49 6.9 9.58 13.39 29.03 60.19 ) Other Un-allocable expenditure / (income) {net) (62.04) (101.43) (43.77) (163.47) (34.72) (144.32) [Total profit before tax 479.24 464.58 399.61 943.82 677.90 1,352.94 3 [Segment assets /a) Gases, related products & services 8,340.46 8,058.29 6,420.59 8,340.46 6,420.59 7,520.05 b) Project Engineering 88.43 83.69 133.37 88.43 133.37 85.04 ) Unallocated 4,916.38 5,361.03 4,906.44 4,916.38 4,906.44 5,384.41 Total 13,345.27 13,503.01 11,460.40 13,345.27 11,460.40 12,989.50 4 |segment liabflities 2) Gases, related products & services 1,850.88 1,874.26 1,014.73 1,850.88 1,014.73 2,325.01 b) Project Engineering 8.86 3.9 - 8.86 - 2.08 ) Unatlocated 1,011.62 1,502.91 1,227.11 1,011.62 1,227.11 891.00 Total 2,871.36 3,381.16 2,241.84 2,871.36 2,241.84 3,218.09 (This space has been intentionally left blank)
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Notes to the Unaudited Financial Results for the quarter and six months ended 30 September 2026 (i) The unaudited financial results of Ellenbarrie Industrial Gases Limited (the Company’) have been prepared in accordance with the Indian Accounting Standards notified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules there under (Ind AS’) and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the Regulations’), including relevant circulars issued by SEBI. In terms of Regulation 33 of the Regulations, the above unaudited financial results of the Company for the quarter and six months ended 30 September 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 04 November 2026, The statutory auditors have carried out limited review of these unaudited financial results and have expressed an unmodified conelusion thereon. (iff) The Operating Segments have been reported in a manner consistent with the information reported to the Chief Operating Decision Maker (CODM) for the purpose of resource allocation and assessment of segment performance is based on product and services. Accordingly, management of the Company has chosen to organise the segment based on its products and services, which is as follows: [0 - Gases, related products & services - Manufacture and supply industrial gases including by-products. - Project engineering - Design, engineering, supply, installation and commissioning of air separation units ('ASUs") and related products. (iv) During the year ended 31 March 2026, the Company concluded its Initial Public Offer (1PO") of 21,313,130 equity shares having face value ¥ 2 each at an issue price of ¥ 400 per equity share (including a share premium of % 398 per equity share), aggregating to ¥ 8,525.25 miltion. The IPO comprised of fresh issue of 10,000,000 equity shares and an offer for sale of 11,313,130 equity shares by the selling shareholders. The equity shares were allotted/transferred to the eligible applicants on 27 June 2025 and which got subsequently listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on 01 July 2025. The utilisation of IPO proceeds from fresh issue of T 3,731.36 million (net of issue expenses of ¥ 268.64 million in relation to fresh ssue of shares) is summarised below: (% in million) Item Head Amount as proposed in | Amount as per the | Amount utilised upto | Total unutilised as on the Offer Document | Report of Monitoring | 30 September 2026 | 30 September 2026 ‘Agency as at 30 September 2026 Repayment/ prepayment, in full or In part, of certain 2,100.00 2,100.00 2,100.00 - loutstanding borrowings availed by the Company [Setting up of an air separation unit at Uluberia-il plant 1,045.00 1,045.00 756.66 28834 [with a capacity of 220 TPD [General corporate purposes 559.51 586.36 447.94 138.42 [Total 3,704.51 3,731.36 3,304.60 426.76 ‘The unutilized portion of IPO Proceeds has been classified in other current financial assets, which includes fixed deposits of ¥ 426.76 million. (v) The preparation of consolidated financial results for the quarter and six months ended 30 September 2026 are not applicable since the Company does not have any Subsidiary/Associate/ Joint Venture. (vi) The above unaudited financial resuits are also available on the Company’s website (wuw elienbarric com) and on the website of respective stock exchanges www. hseindia.com/www.nseindia.com, (Vi) Figures for the previous period have been regrouped/ rectassified wherever necessary to confarm to current periods classification. Chairmaryf Managing Director DIN: 00187727 Place: Kolkata Date: 04 November 2026