Ellenbarrie Industrial Gases Limited has informed the exchange regarding Annual Report 2026

Shaping the Next Phase of Growth Ellenbarrie Industrial Gases Limited Annual Report 2026 Contents 01-30 Corporate Overview 150-233 Financial Statements Prelude 01 Independent Auditors’ Report 150 FY 2026 Business Dashboard 02 Financial Statements 162 About Ellenbarrie 04 Investor Information Journey 06 Product Portfolio 08 CIN L24112WB1973PLC029102 Statement from the Chairman & Mg. Director 12 BSE Code 544421 Jt. Managing Director’s Message 14 NSE Symbol ELLEN Operational Excellence and Presence 16 Financial Highlights 20 ISIN INE236E01022 Strengths 22 Dividend Declared None Strategies 24 Saturday, September 26 2026 ESG 26 AGM Date at 12:00 P.M. Corporate Information 30 Online via Video-Conferencing/ AGM Venue/Mode Other Audio-Visual Means 32-149 Statutory Reports Report of the Board of Directors 32 For more investor-related information, please visit Management Discussion and Analysis 45 https://ellenbarrie.com/investors/ Corporate Governance Report 63 Business Responsibility and Sustainability Report 97 Annual Report on Corporate Social Responsibility 126 Secretarial Audit Report 133 Notice of Annual General Meeting 138 Disclaimer: This document contains statements about expected future events and financials of Ellenbarrie Industrial Gases Limited (‘the Company’), which are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is a significant risk that the assumptions, predictions, and other forward-looking statements may not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as several factors could cause assumptions, actual future results and events to differ materially from those expressed in the forward-looking statements. Accordingly, this document is subject to the disclaimer and qualified in its entirety by the assumptions, qualifications and risk factors referred to in the Management Discussion and Analysis section of this Annual Report. PRELUDE Shaping the Next Phase of Growth At Ellenbarrie Industrial Gases Limited, we are shaping the next phase of growth on a strong and evolving foundation. Our focus remains on expanding capabilities, deepening our market presence and enhancing operational efficiency across our organization. With these pillars firmly in place, we are now positioned to unlock greater value from our integrated strengths. As we move ahead, we will build on this momentum, driving sustainable growth, strengthening our competitive positioning and creating long-term value for all our stakeholders. FY 2026 BUSINESS DASHBOARD Measuring the Momentum of a Milestone Year A Defining Milestone Strong Financial Momentum Our successful public listing on July 1, 2025 marked We delivered a strong performance during the year, a significant milestone in Ellenbarrie’s journey, with growth in Revenues, EBITDA and PAT. Margins strengthening our governance framework, enhancing remained resilient despite near-term headwinds, transparency and reinforcing our commitment to reflecting disciplined execution and operational long-term value creation. efficiencies. ` 36,361 9.3% 4.2% Market Capitalization Revenue Growth EBITDA Growth* ` 2,152 25.3% * EBITDA = PBT + Depreciation + Finance Cost + Mn Impairment Loss on Financial Assets - Other Income Debt Reduction PAT Growth Annual Report 2026 Scaling Operations Expanding into High Growth Segments We advanced our capacity expansion strategy, commissioning new facilities and ramping up We are strengthening our presence in emerging operations to strengthen production capabilities sectors such as solar manufacturing by supplying gases and support future growth. tailored to their specific requirements, while building capabilities in ultra-high purity gases to serve 1,610 higher-value applications 99.9999% Total Capacity as of March 31, 2026 Ultra-High Purity Gas Capability 2,149 Proposed Total Capacity as of March 31, 2027 ABOUT ELLENBARRIE Distilling Five Decades of Expertise Ellenbarrie Industrial Gases Limited is an established industrial gas company in India, manufacturing and supplying industrial, medical, and specialty gases to multiple industries and healthcare institutions. We also provide medical equipment and engineering services for gas infrastructure, ensuring safe installation and efficient operations across customer sites. Annual Report 2026 50+ Years Operating Experience 3 States Market Leadership Manufacturing Facilities 3rd Largest Cylinder and Tanker Network (India) Bulk Customer Installations (Owned and Maintained) Total Employees *owned & managed JOURNEY Marking Every Milestone towards Greater Horizons 2004 1973 Established the first Air Incorporated as a public Separation Unit (ASU) for limited company industrial gas manufacturing in Uluberia, West Bengal 1976 Listed on the Calcutta Stock Exchange 2009 Set up the first oxygen plant in West Bengal Commissioned the second ASU in Andhra Pradesh 2012 Established the third ASU in Telangana 2013 Air Water Inc., Japan, acquired a 51% share 2017 2018 Crossed ` 100 Cr in turnover Commissioned a cylinder filling station in West Bengal Delisted from the Calcutta Stock Exchange voluntarily Annual Report 2026 Acquired Truair Industrial Gases (a cylinder filling station) for ` 5.40 Cr, strategically expanding retail presence in Bengaluru, Karnataka 2026 Commissioned the Uluberia-2 merchant plant (220 TPD) in West Bengal Invested ` 70.8 Mn for a 26% stake in Pattikonda Renewables Private Limited in connection with a 25-year PPA for power from a 6 MW wind-solar hybrid project in Andhra Pradesh 2025 2024 2023 Listed on NSE Limited Crossed ` 300 Cr in Crossed ` 200 Cr in turnover and BSE Limited turnover Signed an O&M contract with Commissioned and a government-owned steel operationalized the company 600 TPD plant at Jairaj Ispat Limited 2022 Signed a pipeline supply 2020 agreement with Jairaj Ispat Limited for setting up a Secured an EPC contract to 600 TPD plant build a plant in Bangladesh 2019 2021 Entered a leasing and onsite production Became a 100% Indian agreement with a major steel manufacturer company following the exit of Air Water Inc. PRODUCT PORTFOLIO Offering Solutions across Every Spectrum We operate through a highly resilient business model structured across two primary verticals: Sale of Gases, Related Products & Services and Project Engineering Services (PES). Our comprehensive portfolio ensures operational continuity for diverse sectors ranging from traditional heavy industries to critical healthcare and emerging sunrise sectors. Industries Served Pharmaceuticals Dealer & Retail Steel & Chemicals Network Others (including Engineering & Defense Healthcare, Railways, Infrastructure Aviation and Space/R&D) Revenue Mix (FY 2025-26) 2.2% 97.8% Project Engineering Sale of Gases, Related Services Products & Services Annual Report 2026 What We Offer 1 Sale of Gases Manufacturing and supplying gases is one of our core offerings, supporting industries where continuity and consistency are essential. A Industrial Gases B Specialty and High-Purity Gases Our industrial gases support sectors such as steel, We provide specialty and high-purity gases for highly fabrication, pharmaceuticals, shipbuilding, and specific applications and emerging sectors. engineering. Air separation gases form a significant Ultra High Purity (UHP) Gases - Nitrogen, share of our mix, led by oxygen, nitrogen and argon. Oxygen, Ammonia and Nitrous Oxide Oxygen (Compressed and Liquid) Silane Nitrogen (Compressed and Liquid) Welding Mix Argon (Compressed and Liquid) Carbon Dioxide (Gas, Liquid, and Dry Ice) Dry Ice Helium Acetylene Hydrogen C Medical Gases Nitrous Oxide Synthetic Air Trusted by leading hospitals, public health systems Special Gases (Trimix Blends) and defence establishments, our medical gas solutions form a critical backbone of healthcare delivery. We ensure a safe, reliable and uninterrupted sup [Showing first 8,000 characters — download PDF for full document]