Linde India Limited LINDEINDIA NIFTY_MIDNSEINFRA

Basic Materials · Specialty Chemicals · India

https://www.linde.in

Linde India Limited manufactures and sells industrial and medical gases in India. It operates through Gases, Related Products and Services; and Project Engineering Division segments. The Gases, Related Products and Services segment produces and sells oxygen, nitrogen, and argon gases. This segment engages in the provision of pipeline gas supply to steel, glass, and chemical industries; liquefied gases through cryogenic tankers to various industrial sectors; and compressed gas in cylinders to fabrication, manufacturing, and construction industries. It offers gases, such as medical oxygen, synthetic air, and nitrous oxide for pharmaceutical use, as well as medical gas distribution systems to hospitals. The Project Engineering Division is involved in the design, engineering, manufacture, and commissioning of cryogenic and non-cryogenic air separation plants (ASUs), vacuum pressure swing adsorption (VPSA) units, and nitrogen plants; and the sale of distillation columns, cryogenic storage tanks, and vaporizers. It serves various industries, such as steel, automotive, pharma, metal fabrication, chemicals, food and beverage, solar panels, science and research, natural gas and oil refining, petrochemicals, fertilizers, electronics, and metal processing, as well as hospitals and healthcare establishments. The company was formerly known as BOC India Limited and changed its name to Linde India Limited in February 2013. Linde India Limited was incorporated in 1935 and is headquartered in Kolkata, India. Linde India Limited is a subsidiary of The BOC Group Limited.

Market & Price

Market Cap

₹61,443.02 Cr

Current Price

₹7,204.50

High / Low (52W)

₹7,847.50 / ₹5,695.50

Beta

-0.06

Valuation

Stock P/E

104.17

Industry PE

23.81

Forward P/E

71.76

PEG Ratio

0.13

Book Value

₹447.91

Price to Book

16.08

P/S

24.50

EV/EBITDA

Dividend Yield

0.06%

Profitability & Returns

ROCE

15.21%

ROE

ROA

Profit Margin

23.52%

Op Margin

20.44%

EPS (Latest Qtr)

₹22.67

EPS (TTM)

₹69.16

Balance Sheet & Liquidity

Debt/Equity

Quick Ratio

Current Ratio

Debt

Total Assets

₹5,142.74 Cr

Current Assets

₹994.29 Cr

Working Capital

₹-32.16 Cr

Ownership

Promoter Holding

78.00%

Chg in Prom Hold

FII / Inst Holding

7.92%

Chg in FII Hold

Financial Snapshot

Enterprise Value

Total Revenue (TTM)

₹2,508.18 Cr

EBITDA

₹935.41 Cr

Free Cash Flow

Operating Cash Flow

Shares Outstanding

₹8.53 Cr

Gross Margin

60.59%

Payout Ratio

6.51%

Growth (CAGR)

Revenue 5Y

5.57%

Profit 5Y

-3.57%

Revenue (YoY)

13.10%

Earnings (YoY)

676.40%

PROS

Excellent profit margin of 23.5%.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Trading at a high P/E of 104.2.
Earnings shrank at -3.6% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Basic Materials).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	LINDEINDIA Linde India Limited NIFTY_MIDNSEINFRA	7,204.50	104.17	₹61,443.02 Cr	0.06%	15.21%	-	5.57%	-3.57%
2	ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA	11,482.00	41.32	₹3.38 L Cr	0.67%	11.90%	10.59%	12.40%	17.26%
3	JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA	1,278.00	14.01	₹3.12 L Cr	0.56%	19.15%	27.26%	3.61%	75.28%
4	HINDZINC Hindustan Zinc Limited NSEINFRA	632.95	19.34	₹2.67 L Cr	3.32%	62.35%	76.94%	5.61%	9.58%
5	TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA	208.02	28.34	₹2.59 L Cr	1.92%	11.32%	11.16%	-1.59%	7.21%
6	HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA	1,126.70	18.73	₹2.52 L Cr	0.44%	9.50%	10.29%	7.40%	9.87%
7	GRASIM Grasim Industries Limited NIFTY50NSEINFRA	3,122.40	42.74	₹2.12 L Cr	0.32%	4.00%	6.29%	14.63%	-10.06%
8	SOLARINDS Solar Industries India Limited NSEINFRA	18,247.00	98.04	₹1.65 L Cr	0.06%	29.51%	31.33%	13.27%	30.36%
9	PIDILITIND Pidilite Industries Limited NSEINFRA	1,482.80	61.73	₹1.51 L Cr	0.67%	28.48%	23.52%	7.50%	24.36%

Quarterly Results

Figures in INR.

Metric	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Dec 2025
Revenue	634.41 Cr	605.86 Cr	591.72 Cr	571.08 Cr	701.03 Cr
Cost of Revenue	143.92 Cr	132.41 Cr	121.30 Cr	111.67 Cr	159.78 Cr
Gross Profit	490.50 Cr	473.45 Cr	470.43 Cr	459.41 Cr	541.25 Cr
Operating Expenses	363.39 Cr	336.50 Cr	318.68 Cr	318.38 Cr	346.07 Cr
Operating Income	127.11 Cr	136.95 Cr	151.75 Cr	141.03 Cr	195.18 Cr
EBITDA	197.33 Cr	213.80 Cr	223.33 Cr	203.49 Cr	312.06 Cr
Interest Expense	2.21 Cr	1.61 Cr	6.55 Cr	3.15 Cr	5.54 Cr
Pretax Income	143.39 Cr	156.99 Cr	161.28 Cr	144.34 Cr	244.84 Cr
Tax Provision	36.96 Cr	40.67 Cr	42.87 Cr	37.15 Cr	51.51 Cr
Net Income	106.42 Cr	116.32 Cr	118.41 Cr	107.19 Cr	193.32 Cr
Diluted EPS	12.48	13.64	-	12.57	22.67

Profit & Loss (Annual)

Figures in INR.

Metric	Dec 2021	Dec 2022	Mar 2024	Mar 2025
Revenue	2,111.96 Cr	2,505.28 Cr	2,768.38 Cr	2,485.22 Cr
Cost of Revenue	687.00 Cr	1,027.51 Cr	977.10 Cr	572.58 Cr
Gross Profit	1,424.95 Cr	1,477.78 Cr	1,791.28 Cr	1,912.64 Cr
Operating Expenses	1,059.73 Cr	1,086.39 Cr	1,289.93 Cr	1,363.99 Cr
Operating Income	365.22 Cr	391.39 Cr	501.35 Cr	548.65 Cr
EBITDA	882.32 Cr	668.85 Cr	787.09 Cr	839.96 Cr
Interest Expense	3.05 Cr	4.49 Cr	7.27 Cr	12.63 Cr
Pretax Income	697.90 Cr	477.29 Cr	578.87 Cr	613.50 Cr
Tax Provision	190.68 Cr	38.48 Cr	144.79 Cr	158.66 Cr
Net Income	507.22 Cr	438.81 Cr	434.09 Cr	454.85 Cr
Diluted EPS	59.47	51.45	50.90	53.33

Compounded Sales Growth

5 Years:	5.57%
1 Year:	13.10%

Compounded Profit Growth

5 Years:	-3.57%
1 Year:	676.40%

Stock Price Performance

1 Year:	-4.33%
6 Months:	+20.75%
3 Months:	+6.90%
1 Month:	-1.41%

Balance Sheet (Annual)

Figures in INR.

Metric	Dec 2021	Dec 2022	Mar 2024	Mar 2025
Total Assets	4,016.61 Cr	4,394.25 Cr	4,805.24 Cr	5,142.74 Cr
Current Assets	1,868.29 Cr	2,146.99 Cr	1,944.00 Cr	994.29 Cr
Cash & Equivalents	983.29 Cr	1,240.30 Cr	978.82 Cr	145.37 Cr
Inventory	69.10 Cr	80.11 Cr	85.04 Cr	106.64 Cr
Receivables	395.86 Cr	505.26 Cr	529.04 Cr	445.47 Cr
Total Liabilities	1,301.72 Cr	1,354.32 Cr	1,336.81 Cr	1,322.80 Cr
Current Liabilities	875.32 Cr	1,020.92 Cr	1,039.98 Cr	1,026.45 Cr
Long Term Debt	-	-	-	-
Total Debt	24.29 Cr	22.66 Cr	20.69 Cr	42.37 Cr
Total Equity	2,714.89 Cr	3,039.94 Cr	3,468.43 Cr	3,819.94 Cr
Shares Outstanding	8.53 Cr	8.53 Cr	8.53 Cr	8.53 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Dec 2021	Dec 2022	Mar 2024	Mar 2025
Operating Cash Flow	588.88 Cr	568.51 Cr	440.40 Cr	583.60 Cr
Investing Cash Flow	98.43 Cr	-193.16 Cr	-539.43 Cr	-1,304.86 Cr
Financing Cash Flow	-28.16 Cr	-118.34 Cr	-108.76 Cr	-112.18 Cr
Capital Expenditure	-136.71 Cr	-242.13 Cr	-571.68 Cr	-1,330.52 Cr
Free Cash Flow	452.16 Cr	326.37 Cr	-131.28 Cr	-746.93 Cr
Net Change in Cash	659.15 Cr	257.00 Cr	-207.79 Cr	-833.45 Cr

Ratios (Annual)

Figures in %.

Metric	Dec 2021	Dec 2022	Mar 2024	Mar 2025
Gross Margin %	67.5%	59.0%	64.7%	77.0%
Operating Margin %	17.3%	15.6%	18.1%	22.1%
Net Margin %	24.0%	17.5%	15.7%	18.3%
ROE %	18.7%	14.4%	12.5%	11.9%
ROCE %	11.6%	11.6%	13.3%	13.3%

Shareholding Pattern

Insiders

78.00%

Institutions

7.92%

Public Float

35.99%

Analyst View

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LINDEINDIA · Basic Materials