Analysts/Institutional Investor Meet/Con. Call Updates

August 13, 2026 To To National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra – Kurla Complex, New Trading Ring, 2nd Floor, Rotunda Building, P.J. Towers, Dalal Street, Bandra (E), Mumbai – 400 051 Mumbai – 400 001 SYMBOL: ELLEN SCRIP CODE: 544421 Sub: Transcript of Earnings Conference Call with Analysts / Investors pertaining to the Unaudited Financial Results of the Company for the quarter ended June 30, 2026 - Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Sir/ Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed herewith is the transcript of the Earnings Conference call with Analysts / Investors held on Monday, August 10, 2026, post declaration of the Unaudited Financial Results of the Company for the quarter ended June 30, 2026. The same has also been disseminated on the website of the Company at https://ellenbarrie.com/investors/ 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 Ellenbarrie Industrial Gases Ltd Q1 FY27 Earnings Conference Call August 10, 2026 Speakers: Mr. Padam Kumar Agarwala - Chairman and Managing Director Mr. Varun Agarwal - Joint Managing Director Mr. K Srinivas Prasad - Chief Financial Officer Moderator: Ms. Vinita Pandya (Raadhi Capital) Ellenbarrie Industrial Gases Ltd | Q1 FY27 Earnings Conference Call August 10, 2026 Moderator Good evening, ladies and gentlemen. Welcome to the Q1 FY27 earnings conference call of Ellenbarrie Industrial Gases Limited, hosted by Raadhi Capital. As a reminder, all attendees will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. If you have any questions, please feel free to press the raise hand button. We'll call on you in turn and unmute your line so you can speak. Important note, if you need to ask a question, please ensure Microsoft Teams has permission to access your microphone when you log in. Otherwise, you will not be able to unmute. Please note that this conference is being recorded. Kindly also note that audio of the earnings call is a corporate material of Ellenbarrie Industrial Gases Limited. It cannot be copied, rebroadcasted, or attributed in the PR media without specific written consent of the company. Please note that anything said on this call that reflects the outlook towards the future, which can be construed as a forward-looking statement, must be reviewed in conjunction with the risks that the company faces. A copy of the disclosure is available on the investor relations section of the website, as well as on the stock exchanges. To give you an in-depth understanding of the company and answer all your queries, we have from the management side today, Mr. Padam Kumar Agarwala, Chairman and Managing Director, Mr. Varun Agarwal, Joint Managing Director, and Mr. K. Srinivas Prasad, Chief Financial Officer. I now hand over the conference to Mr. Padam sir, for his opening remarks. Thank you, and over to you, sir. Mr. Padam Kumar Agarwala (Chairman and Managing Director): Yeah. Thank you. Good afternoon. Thank you for joining us today for Ellenbarrie Industrial Gas Limited's Q1 FY27 earnings call. We are happy to begin the new financial year on a positive note. The first quarter has been encouraging and more importantly, it gives confidence that the business is moving in the right direction. At a broader level, the operating environment for industrial gases in India remains positive. The long-term opportunity continues to be supported by India's manufacturing growth, infrastructure build-out, higher steel production, expansion in chemicals and pharmaceuticals, and the gradual increase in demand from healthcare, engineering, defence and emerging industrial applications. Industrial gases are an essential input for many of these sectors. As the Indian economy becomes more manufacturing-led and as customers focus more on reliability, quality, and efficiency, the role of specialized gas suppliers becomes more important. This is a positive structural trend for the industry. Page 2 of 15 Ellenbarrie Industrial Gases Ltd | Q1 FY27 Earnings Conference Call August 10, 2026 That said, the macroeconomic environment continues to require caution. While India remains one of the strongest growth markets globally, businesses are still operating in a world of geopolitical uncertainty. Input costs, volatility, energy price movement, currency fluctuations, and uneven demand conditions across end user industries. For a business like ours, energy costs remain one of the most important variables. Power is a key input in our manufacturing process and therefore cost efficiency and plant productivity are central to how we manage the business. Over the past few quarters, we have focused on improving operating efficiency, strengthening our asset base, and building a more resilient platform for future growth. Our approach, therefore, is to remain disciplined. We are not looking at growth only in terms of adding capacity. We are focused on building the right capacity in the right markets with the right customer base and with a clear view on returns. This is why our strategy continues to be built around a balanced mix of on-site and merchant plants, deeper customer relationships, stronger distribution range, and disciplined capital allocations. For FY27, our priorities are clear. We will continue to ramp up recently commissioned plants, bring new capacities into operation in a phased manner, improve utilization, protect margins, and strengthen our position across key industrial clusters. We will also continue to evaluate opportunities in higher value-added gases and newer applications where everybody's technical and operating capabilities can create long-term value. We believe Ellenbarrie is well placed to benefit from the structural growth of the Indian industrial gases market. At the same time, we continue to manage the business prudently with a focus on cost, discipline, balance sheet strength, customer service, and sustainable growth. We'd like to thank our employees, customers, suppliers and service providers, shareholders, and the board for their continued support. I will now hand over to Varun, who will take you through the quarterly performance, key business updates, and our priorities for the rest of the year. Thank you. Mr. Varun Agarwal (Joint Managing Director): Thank you for the opening remarks and good afternoon, everyone. I'll take you through our Q1 FY27 performance, the key operational updates during the quarter and our priorities for the rest of the financial year. So, Q1 FY27 was a strong quarter for Ellenbarrie across revenue, EBITDA, and PAT. Revenue from operations stood at 987 million compared to 836 million in Q1 of FY26 and 874 million in Q4 of FY26. This represents a growth of 18% on a year-on-year basis and 13% sequentially. The growth was driven primarily by the ongoing ramp up of our Kurnool and Uluberia 2 plants. Both plants are progressing well, and we continue to focus on improving their Page 3 of 15 Ellenbarrie Industrial Gases Ltd | Q1 FY27 Earnings Conference Call August 10, 2026 capacity utilization through FY27. EBITDA stood at 387 million compared to 318 million in Q1 of FY26 and 258 million in Q4 of FY26. This represents a growth of 21% on a year-on-year basis and 50% sequentially. On the margin front, the EBITDA margin stood at 39% compared to 38% in Q1 of FY26 and 30% in Q4 of FY26. The improvement in EBITDA was supported primarily by higher operating efficiency of our new plant, disciplined cost control, higher production, and some benefit from higher argon production and pricing. Profit after tax stood at 350 million co [Showing first 8,000 characters — download PDF for full document]