Ellenberry Industrial Gases Stock Drops 60% Below Record, Brokerages Urge Buying Amid Optimistic Outlook The stock of Ellenberry Industrial Gases Limited, which had previously reached record highs, has plummeted 60% from its peak, prompting brokerages to issue bullish recommendations and set ambitious price targets. Analysts suggest that the company’s recent financial performance and projected growth could drive the shares higher despite the sharp decline. Ellenberry Industrial Gases, which listed on the stock market in June 2024, initially raised 853 crore rupees through its initial public offering (IPO) at a price of 400 rupees per share. However, the stock has since fallen significantly, dropping 35% from its IPO price by July 2025 and hitting a low of 258 rupees in recent trading. This decline has brought the shares down 60% from their record high of 637 rupees. Despite the steep drop, brokerages are optimistic about the company’s future. J.M. Financial noted that while the company’s EBITDA and net profit for the fiscal year ending March 31, 2026, fell short of expectations, its long-term growth prospects remain strong. The firm revised its 2027-2028 revenue and profit forecasts by 1-3% due to delayed revenue contributions from the eastern on-site segment. Analysts at JM Financial and Motilal Oswal have recommended buying the stock, citing potential for significant growth. JM Financial projects that the company could achieve 24% revenue growth, 30% EBITDA growth, and a 27% compound annual growth rate (CAGR) over the 2026-2029 period. The firm has set a target price of 345 rupees for the stock, while Motilal Oswal has set a target of 330 rupees. Ellenberry’s financial performance for the fiscal year ending March 31, 2026, showed a net profit of 22.#motilal_oswal #ellenberry_industrial_gases #j_m_financial #ellenberry_industrial_gases_ipo #ellenberry_industrial_gases_stock
