Linde India Ltd.

6,672-0.34%

2026-08-21

linde.inBSE: 523457NSE: LINDEINDIA
Market Cap₹ 57,096 Cr.
Current Price₹ 6,672
High / Low₹ 8,049 / 5,673
Stock P/E104.5
Book Value₹ 512
Price to Book13.62
Dividend Yield0.18 %
ROCE18.5 %
ROE13.6 %
Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Gases and Related Products: 84.1% • Project Engineering: 15.9%

PROS

  • Company is almost debt free
  • Operating margins have improved to 35.5% from 27.7%
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.26x)
  • Working capital cycle has improved - days down from -7 to -24

CONS

  • Receivables are growing faster than sales - a possible quality concern
  • Stock is trading at 13.6x its book value
  • Rich enterprise valuation - EV/EBITDA of 62.5x

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS
S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %NP Qtr Rs.Cr.Qtr Profit Var %Sales Qtr Rs.Cr.Qtr Sales Var %ROCE %OPM %
1.LINDEINDIA6694.75104.5057095.660.18104.59-2.42694.3621.5918.5029.12
2.PETRONET291.0010.3743650.003.441137.1435.075557.84-53.2228.7628.14
3.BHARATCOAL33.280.0015498.500.00-68.09-202.393587.27-7.204.32-1.80
4.ELLEN325.200.004583.230.0034.9686.8698.7218.0415.7038.12
5.REFEX293.7016.384030.140.5164.55216.87916.30139.0924.0611.67
6.IRMENERGY285.8016.051173.490.5233.81142.86354.7524.268.6417.27
7.NOL59.800.0030.150.00-2.01-7.273.04-59.8814.39-40.85
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023
721
557
Operating Profit
OPM %
Other Income
18
Interest
1
Depreciation
49
132
Tax %
25.75%
Net Profit
0
12
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Sep 2023
711
538
Operating Profit
OPM %
Other Income
19
Interest
1
Depreciation
50
141
Tax %
24.47%
Net Profit
0
13
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Dec 2023
706
520
Operating Profit
OPM %
Other Income
22
Interest
1
Depreciation
51
156
Tax %
25.04%
Net Profit
0
14
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Mar 2024
630
452
Operating Profit
OPM %
Other Income
18
Interest
4
Depreciation
52
141
Tax %
26.21%
Net Profit
0
12
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Jun 2024
653
469
Operating Profit
OPM %
Other Income
19
Interest
2
Depreciation
51
150
Tax %
25.49%
Net Profit
114
13
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Sep 2024
634
456
Operating Profit
OPM %
Other Income
16
Interest
2
Depreciation
52
141
Tax %
26.15%
Net Profit
106
12
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Dec 2024
606
414
Operating Profit
OPM %
Other Income
19
Interest
2
Depreciation
55
155
Tax %
26.30%
Net Profit
116
14
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Mar 2025
592
382
Operating Profit
OPM %
Other Income
13
Interest
7
Depreciation
56
161
Tax %
26.67%
Net Profit
118
14
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Jun 2025
571
374
Operating Profit
OPM %
Other Income
4
Interest
3
Depreciation
56
142
Tax %
26.12%
Net Profit
107
13
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Sep 2025
644
362
Operating Profit
OPM %
Other Income
4
Interest
3
Depreciation
56
226
Tax %
25.31%
Net Profit
171
20
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Dec 2025
701
444
Operating Profit
OPM %
Other Income
4
Interest
6
Depreciation
62
194
Tax %
26.54%
Net Profit
193
23
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Mar 2026
614
441
Operating Profit
OPM %
Other Income
6
Interest
3
Depreciation
61
115
Tax %
33.43%
Net Profit
77
9
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Jun 2026
694
562
Operating Profit
OPM %
Other Income
6
Interest
6
Depreciation
62
140
Tax %
25.12%
Net Profit
105
1
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023
3,136
2,372
Operating Profit
869
OPM %
28
Other Income
105
Interest
6
Depreciation
253
618
Tax %
13
Net Profit
538
EPS
63
Dividend Payout %
19
Minority Interest
0
Share of Associates
0
Adjusted EPS
63
Minority Interest
0
Share of Associates
0
Adjusted EPS
63
Mar 2024
2,769
2,072
Operating Profit
779
OPM %
28
Other Income
83
Interest
7
Depreciation
201
579
Tax %
25
Net Profit
434
EPS
51
Dividend Payout %
24
Minority Interest
0
Share of Associates
0
Adjusted EPS
51
Minority Interest
0
Share of Associates
0
Adjusted EPS
51
Mar 2025
2,485
1,724
Operating Profit
833
OPM %
34
Other Income
72
Interest
13
Depreciation
214
614
Tax %
26
Net Profit
455
EPS
53
Dividend Payout %
23
Minority Interest
0
Share of Associates
0
Adjusted EPS
53
Minority Interest
0
Share of Associates
0
Adjusted EPS
53
Mar 2026
2,531
1,632
Operating Profit
927
OPM %
37
Other Income
28
Interest
14
Depreciation
235
733
Tax %
25
Net Profit
549
EPS
64
Dividend Payout %
19
Minority Interest
0
Share of Associates
0
Adjusted EPS
64
Minority Interest
0
Share of Associates
0
Adjusted EPS
64
TTM
2,654
1,810
Operating Profit
OPM %
Other Income
20
Interest
17
Depreciation
241
675
Tax %
27
Net Profit
493
EPS
Dividend Payout %
Minority Interest
0
Share of Associates
55
Adjusted EPS
Minority Interest
0
Share of Associates
55
Adjusted EPS

COMPOUNDED SALES GROWTH

10 Years:
5 Years:
3 Years:
-7%

COMPOUNDED PROFIT GROWTH

10 Years:
5 Years:
3 Years:
1%

STOCK PRICE CAGR

10 Years:
33%
5 Years:
28%
3 Years:
5%
1 Year:
5%

RETURN ON EQUITY

10 Years:
5 Years:
3 Years:
13%
Last Year:
14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

Aug 6

₹ 0.80

Rs.8.0000 per share(80%)Special Dividend

2026

Aug 6

₹ 0.40

Rs.8.0000 per share(80%)Special Dividend

2025

Aug 7

₹ 1.20

Rs.12.0000 per share(120%)Final Dividend

2024

Aug 5

₹ 0.40

Rs.8.0000 per share(80%)Special Dividend

2024

Aug 5

₹ 0.80

Rs.8.0000 per share(80%)Special Dividend

2023

Aug 10

₹ 0.75

Rs.7.5000 per share(75%)Special Dividend

2023

Aug 10

₹ 0.45

2022

Jun 1

₹ 1

Rs.10.0000 per share(100%)Special Dividend

2022

Jun 1

₹ 0.35

Rs.10.0000 per share(100%)Special Dividend

2021

Jun 16

₹ 0.30

Rs.3.0000 per share(30%)Final Dividend

2018

Apr 6

₹ 0.10

Rs.1.0000 per share(10%)Dividend

2017

Apr 7

A.G.M. & Rs.0.7500 per share(7.5%)Dividend

2016

May 6

Rs.0.7500 per share(7.5%)Dividend

Mar 2023
Equity Capital
85
3,053
Trade Payables
539
1,400
Total Liabilities
5,077
1,762
Capital Work in Progress
225
32
77
0
Cash & Bank
1,191
1,788
Total Assets
5,077
Total Debt
0
Net Working Capital
1,115
Contingent Liabilities
117
Book Value per Share
368.00
Face Value
10.00
Total Debt
0
Net Working Capital
1,115
Contingent Liabilities
117
Book Value per Share
368.00
Face Value
10.00
Mar 2024
Equity Capital
85
3,381
Trade Payables
624
1,546
Total Liabilities
5,637
1,822
Capital Work in Progress
483
50
85
481
Cash & Bank
980
1,736
Total Assets
5,637
Total Debt
0
Net Working Capital
887
Contingent Liabilities
81
Book Value per Share
406.50
Face Value
10.00
Total Debt
0
Net Working Capital
887
Contingent Liabilities
81
Book Value per Share
406.50
Face Value
10.00
Mar 2025
Equity Capital
85
3,732
Trade Payables
542
1,814
Total Liabilities
6,173
1,925
Capital Work in Progress
975
74
107
385
Cash & Bank
147
2,560
Total Assets
6,173
Total Debt
0
Net Working Capital
-49
Contingent Liabilities
75
Book Value per Share
447.65
Face Value
10.00
Total Debt
0
Net Working Capital
-49
Contingent Liabilities
75
Book Value per Share
447.65
Face Value
10.00
Mar 2026
Equity Capital
85
4,178
Trade Payables
575
2,180
Total Liabilities
7,017
2,093
Capital Work in Progress
1,343
82
123
508
Cash & Bank
112
2,757
Total Assets
7,017
Total Debt
0
Net Working Capital
-169
Contingent Liabilities
75
Book Value per Share
499.89
Face Value
10.00
Total Debt
0
Net Working Capital
-169
Contingent Liabilities
75
Book Value per Share
499.89
Face Value
10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023
629
Cash from Investing
-306
Cash from Financing
-119
203
Free Cash Flow
629
OCF / Net Profit
1.17
Cumulative 5-Year FCF
0
OCF / Net Profit
1.17
Cumulative 5-Year FCF
0
Mar 2024
440
Cash from Investing
-539
Cash from Financing
-109
-208
Free Cash Flow
-70
OCF / Net Profit
1.01
Cumulative 5-Year FCF
0
OCF / Net Profit
1.01
Cumulative 5-Year FCF
0
Mar 2025
584
Cash from Investing
-1,305
Cash from Financing
-112
-833
Free Cash Flow
-216
OCF / Net Profit
1.28
Cumulative 5-Year FCF
0
OCF / Net Profit
1.28
Cumulative 5-Year FCF
0
Mar 2026
786
Cash from Investing
-705
Cash from Financing
-116
-35
Free Cash Flow
20
OCF / Net Profit
1.43
Cumulative 5-Year FCF
0
OCF / Net Profit
1.43
Cumulative 5-Year FCF
0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023
EPS (₹)
63.09
Book Value (₹)
368.00
Dividend per Share (₹)
12.00
Cash EPS (₹)
92.74
Operating Margin %
27.71%
Net Margin %
17.16%
ROE %
18.38%
ROCE %
21.33%
11.21%
Debtor Days
48
Inventory Days
9
Payable Days
163
-107
Debt to Equity (x)
0.00x
Interest Coverage (x)
99.30x
2.05x
Revenue Growth %
48.47%
Operating Profit Growth %
44.50%
Net Profit Growth %
6.08%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2024
EPS (₹)
50.90
Book Value (₹)
406.50
Dividend per Share (₹)
12.00
Cash EPS (₹)
74.46
Operating Margin %
25.17%
Net Margin %
15.68%
ROE %
13.14%
ROCE %
17.74%
8.10%
Debtor Days
58
Inventory Days
11
Payable Days
219
-150
Debt to Equity (x)
0.00x
Interest Coverage (x)
80.64x
1.67x
Revenue Growth %
-11.70%
Operating Profit Growth %
-10.30%
Net Profit Growth %
-19.32%
-19.32%
P/E (x)
125.91x
P/B (x)
15.77x
Dividend Yield %
0.19%
68.87x
Mar 2025
EPS (₹)
53.33
Book Value (₹)
447.65
Dividend per Share (₹)
12.00
Cash EPS (₹)
78.41
Operating Margin %
30.64%
Net Margin %
18.30%
ROE %
12.49%
ROCE %
17.18%
7.70%
Debtor Days
64
Inventory Days
14
Payable Days
375
-298
Debt to Equity (x)
0.00x
Interest Coverage (x)
49.58x
0.96x
Revenue Growth %
-10.23%
Operating Profit Growth %
6.88%
Net Profit Growth %
4.78%
4.78%
P/E (x)
117.20x
P/B (x)
13.96x
Dividend Yield %
0.19%
63.82x
Mar 2026
EPS (₹)
64.37
Book Value (₹)
499.89
Dividend per Share (₹)
12.00
Cash EPS (₹)
91.91
Operating Margin %
35.53%
Net Margin %
21.69%
ROE %
13.59%
ROCE %
18.50%
8.32%
Debtor Days
64
Inventory Days
17
Payable Days
359
-278
Debt to Equity (x)
0.00x
Interest Coverage (x)
51.59x
0.87x
Revenue Growth %
1.82%
Operating Profit Growth %
11.34%
Net Profit Growth %
20.69%
20.69%
P/E (x)
105.77x
P/B (x)
13.62x
Dividend Yield %
0.18%
62.49x

Shareholding Pattern

Numbers in percentages

TRADES
Jun 2024
75.00
3.03
6.84
Government
0.00
15.14
Sep 2024
75.00
2.42
6.88
Government
0.00
15.70
Dec 2024
75.00
2.27
6.81
Government
0.00
15.93
Mar 2025
75.00
2.63
6.49
Government
0.00
15.89
Jun 2025
75.00
2.51
6.62
Government
0.00
15.87
Sep 2025
75.00
2.35
6.75
Government
0.00
15.90
Dec 2025
75.00
2.03
6.95
Government
0.00
16.02
Mar 2026
75.00
2.05
6.88
Government
0.00
16.07
Jun 2026
75.00
2.03
6.79
Government
0.00
16.17

Documents

Announcements

  • Copy of Newspaper Publication

    2026-08-13 - Linde India Limited has informed the Exchange about Copy of Newspaper Publication

  • Shareholders meeting

    2026-08-13 - Linde India Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 13, 2026. Further, the company has informed the Exchange regarding voting results.

Credit Ratings

Nothing filed yet.

Concalls

  • Aug 2025

    TranscriptPPTREC
  • Aug 2024

    TranscriptPPTREC
  • Aug 2023

    TranscriptPPTREC