Ellenbarrie Industrial Gases Ltd (ELLEN.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-107.9%

-₹25.53

vs ₹324.75 price

Levered DCF

-₹43.18

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	26.16×	84.06×	154.51×	248.65×	7.92×	14.55×	3.91×	47.23×
P/B	2.8×	14.19×	17.07×	19.27×	1.07×	2.37×	2.82×	11.1×
P/S	8×	22.4×	25.97×	34.12×	1.42×	2×	2.01×	2.26×
EV / EBITDA	17.53×	49.91×	87.12×	135.82×	3.55×	9.11×	17.65×	18.03×
Gross margin	52.3%	43.2%	36.2%	32.4%	46.4%	39.6%	36.9%	33.5%
Operating margin	27.9%	28.9%	19.5%	11.3%	20.8%	19.0%	8.3%	13.2%
Net margin	30.6%	26.7%	16.8%	13.7%	17.9%	13.7%	51.3%	4.8%
Current ratio	1.6×	1.41×	1.87×	1.99×	3.21×	1.14×	1.31×	0.67×
Debt / equity	0.19×	0.5×	0.44×	0.29×	0.03×	0.9×	1.1×	6.8×
Interest coverage	10.03×	5.41×	6.49×	6.44×	33.48×	3.13×	1.08×	1.78×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.7%	16.9%	11.0%	7.8%	13.6%	16.3%	72.2%	23.5%
Return on invested capital	6.0%	8.7%	6.0%	3.6%	10.2%	9.4%	3.7%	8.1%
Return on assets	8.0%	9.8%	6.7%	5.1%	11.2%	6.7%	26.4%	2.6%
Free cash flow yield	0.1%	-0.8%	-0.5%	-0.7%	4.7%	7.1%	21.5%	3.9%
Earnings yield	3.8%	1.2%	0.6%	0.4%	12.6%	6.9%	25.5%	2.1%
Enterprise value	₹29.1B	₹72.5B	₹71.7B	₹71B	₹2.7B	₹4.2B	₹4.4B	₹5.5B
Net debt / EBITDA	1.1×	1.7×	2.13×	1.92×	-1.11×	1.53×	3.69×	6.52×
Cash conversion cycle (days)	126	119	61	80	84	17	10	93