Ellenbarrie Industrial Gases secures major BHEL order Ellenbarrie Industrial Gases announced that it has been awarded a **₹481 crore** contract by **Bharat Heavy Electricals Ltd (BHEL)**. The agreement covers the **design, engineering, supply, erection, testing, pre‑commissioning, commissioning, trial runs, operator training and performance‑guarantee demonstration** of a **1,200 TPD cryogenic Air Separation Unit (ASU)**. The ASU will be a core component of BHEL’s **2,000 TPD Coal‑to‑Ammonium Nitrate project**.
Project timeline and structure The contract is structured on a **Build‑and‑Transfer (B&T)** basis, meaning Ellenbarrie will deliver the plant on a turnkey basis but will not retain long‑term ownership or operational responsibilities. The work is scheduled to span **eight quarters**, with the plant expected to be **commissioned in FY29**.
Market reaction In the trading session preceding the announcement, Ellenbarrie’s shares **closed at ₹359.10**, down **2.62%**. The stock is currently **28.3% below its 52‑week high of ₹500.85** and **105.14% above its 52‑week low of ₹175.05**. The company’s **market capitalisation is about ₹5,061 crore**.
Why the contract matters Securing a large‑scale order from a state‑run engineering giant like BHEL not only adds a significant revenue stream but also showcases Ellenbarrie’s capability in delivering complex cryogenic equipment. Successful execution could strengthen the firm’s order book, improve cash flows and potentially lift investor sentiment.
Looking ahead Investors will be watching the **project’s progress milestones**, any **subsequent orders from BHEL or other industrial players**, and the **stock’s price movement** as the company moves through the eight‑quarter execution phase.
--- *All data are based on the company’s announcement and publicly available market information.*