Everest Kanto Cylinder (EKC) is a manufacturer of seamless steel gas cylinders, with over 20 million industrial gas and CNG cylinders currently in service. Established in 1978, EKC is the largest Asian manufacturer of High-Pressure gas cylinders, positioning itself as a clean energy solutions company and a leading global manufacturer of seamless gas cylinders.
The company is primarily engaged in manufacturing seamless steel cylinders and compressed natural gas (CNG) cylinders. Its diverse product range, including industrial, CNG, and jumbo cylinders, is designed for high-pressure storage of various gases such as oxygen, hydrogen, nitrogen, argon, helium, and air. These products find applications across a multitude of industries, including manufacturing, fire equipment/suppression systems, aerospace/defense, and automobiles.
EKC operates two manufacturing facilities in India, located at Tarapur (Maharashtra) and Kandla SEZ (Gujarat). Additionally, it extends its international footprint with two facilities operated through subsidiaries in the Jebel Ali Free Zone, Dubai. Everest Kanto Cylinder Ltd. specializes in manufacturing high-pressure gas cylinders utilized in critical sectors like automotive, industrial gases, and oil & gas, supplying its products to both domestic and global markets.
The company's comprehensive product portfolio includes CNG Steel Cylinders, Industrial Gas Cylinders, Fire Extinguisher Cylinders, Fire Suppression System Cylinders, Medical Application Cylinders, Hydrogen Cylinders, Breathing Air Cylinders, Aluminum Cylinders, Jumbo Cylinders, and Type-4 Composite Cylinders. Beyond manufacturing, EKC is also involved in the trading of fire extinguishment and related equipment, as well as castor oil.
The company has demonstrated a robust financial trajectory.
For the full financial year 2025 (FY25), revenue increased by 22.6% to ₹1,499.2 Crore, although margin pressure was noted. Profit After Tax (PAT) reached ₹97.6 crore in FY24. The Board of Directors recommended a dividend of ₹0.70 per share for FY24.
The company showed strong quarterly performance in Q2FY25, with standalone revenue increasing by 31% year-over-year (YoY) to ₹238.8 Crore. Consolidated revenue stood at ₹367.3 Crore, up 22.7% YoY. PAT for the quarter rose by 46.8% YoY to ₹38.6 Crore, driven by strong demand.
• Operating Revenue (TTM): ₹1,499.20 Crore
• Annual Revenue Growth: 23%
• Pre-tax Margin: 8%
• Return on Equity (ROE): 8% (FY24), 8.91% (recent market data)
• Return on Capital Employed (ROCE): 11.4% (recent market data)
• Current Stock Price: ₹143
• 52-Week High / Low: ₹232 / ₹97.0
• Stock P/E: 15.6
• Book Value: ₹108
• Dividend Yield: 0.50 %
Everest Kanto Cylinder Ltd. currently holds a Market Capitalization of ₹1,610 Crore (as of recent trading data). As per the last reported quarter, the shareholding structure includes Promoters holding 67.4%, Foreign Institutional Investors (FIIs) holding 1.8%, Domestic Institutional Investors (DIIs) holding 0.1%, and the Public holding 30.7% of the total shares.
The stock is actively traded on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) under the trading symbol EKC. The stock has experienced significant volatility, with its 52-week high share price recorded at ₹231.50 and its 52-week low at ₹97.00.
Everest Kanto Cylinder is strategically positioned to capitalize on emerging opportunities in the clean energy sector.
The Indian government's strong commitment to promoting eco-friendly natural gas utilization, coupled with supportive fiscal incentives and rapid infrastructure development, is creating a highly favorable environment for CNG vehicles. Significant investments are slated for the CNG sector over the next 5-6 years, with the number of CNG stations projected to grow from approximately 6,350 to 17,500 by 2030. This expansion is expected to further accelerate the adoption of CNG vehicles, directly benefiting EKC's core business.
India's National Green Hydrogen Mission aims to establish the country as a global hub for green hydrogen production and utilization. This aligns perfectly with the global trend towards reducing carbon emissions. Given EKC's extensive expertise in high-pressure gas storage solutions, the company is favorably positioned to play a crucial role in the emerging hydrogen economy.
The company maintains an optimistic outlook on the global CNG market, bolstered by worldwide government support for green initiatives. Strategic investments, such as those in Egypt, underscore EKC's proactive approach to future international growth. The company continues to expand its global footprint to capture diverse market opportunities.
In 2017, the Company formed a new wholly-owned subsidiary, Next Gen Cylinder Private Limited. On July 11, 2020, EKC further strengthened its corporate structure by acquiring an additional 27.35% of the equity share capital of Calcutta Compressions & Liquefaction Engineering Ltd, thereby making it a wholly-owned subsidiary.
The company's management, led by Chairman Pushkar Khurana, remains dedicated to operational excellence and strategic market expansion. The audio recording of the Q4 & FY25 Earnings Group Conference Call, which discussed the Audited Financial Results (Standalone and Consolidated) for the quarter and year ended March 31, 2025, was made available on the Company's website on May 27, 2025.
With its strong market leadership in Asia's high-pressure gas cylinder manufacturing sector and its strategic alignment with India's clean energy transition, Everest Kanto Cylinder is well-positioned to capitalize on the increasing demand for sustainable energy solutions and the rapidly expanding CNG infrastructure.
