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/E0.0
Book Value₹ 507
Price to Book13.75
Dividend Yield0.18 %
ROCE18.5 %
ROE13.8 %
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 27.9%
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.27x)
  • 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 13.7x its book value
  • Rich enterprise valuation - EV/EBITDA of 59.4x

* 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

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023
721
557
Operating Profit
OPM %
Other Income
18
Interest
1
Depreciation
49
132
Tax %
25.75%
Net Profit
98
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
107
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
117
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
104
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
112
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
104
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
114
13
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
105
12
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
169
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
53
Interest
6
Depreciation
62
243
Tax %
21.19%
Net Profit
192
22
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 %
26.17%
Net Profit
85
10
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
138
Tax %
25.40%
Net Profit
103
1
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
85
Reserves
0
Promoter Pledge %
0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023
3,136
2,372
Operating Profit
874
OPM %
28
Other Income
110
Interest
6
Depreciation
253
614
Tax %
13
Net Profit
536
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
571
Tax %
25
Net Profit
426
EPS
50
Dividend Payout %
24
Minority Interest
0
Share of Associates
0
Adjusted EPS
50
Minority Interest
0
Share of Associates
0
Adjusted EPS
50
Mar 2025
2,485
1,724
Operating Profit
833
OPM %
34
Other Income
72
Interest
13
Depreciation
214
606
Tax %
26
Net Profit
448
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
976
OPM %
39
Other Income
77
Interest
14
Depreciation
235
727
Tax %
24
Net Profit
551
EPS
65
Dividend Payout %
19
Minority Interest
0
Share of Associates
0
Adjusted EPS
65
Minority Interest
0
Share of Associates
0
Adjusted EPS
65
TTM
2,654
1,810
Operating Profit
OPM %
Other Income
69
Interest
17
Depreciation
241
723
Tax %
24
Net Profit
549
EPS
Dividend Payout %
Minority Interest
0
Share of Associates
0
Adjusted EPS
Minority Interest
0
Share of Associates
0
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

Standalone Figures in Rs. Crores / View Consolidated

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
3,027
Trade Payables
539
1,408
Total Liabilities
5,059
1,762
Capital Work in Progress
225
16
77
0
Cash & Bank
1,191
1,786
Total Assets
5,059
Total Debt
0
Net Working Capital
1,115
Contingent Liabilities
117
Book Value per Share
364.94
Face Value
10.00
Total Debt
0
Net Working Capital
1,115
Contingent Liabilities
117
Book Value per Share
364.94
Face Value
10.00
Mar 2024
Equity Capital
85
3,348
Trade Payables
624
1,554
Total Liabilities
5,612
1,822
Capital Work in Progress
483
27
85
481
Cash & Bank
980
1,734
Total Assets
5,612
Total Debt
0
Net Working Capital
887
Contingent Liabilities
81
Book Value per Share
402.52
Face Value
10.00
Total Debt
0
Net Working Capital
887
Contingent Liabilities
81
Book Value per Share
402.52
Face Value
10.00
Mar 2025
Equity Capital
85
3,692
Trade Payables
542
1,822
Total Liabilities
6,141
1,925
Capital Work in Progress
975
42
107
385
Cash & Bank
147
2,560
Total Assets
6,141
Total Debt
0
Net Working Capital
-49
Contingent Liabilities
75
Book Value per Share
442.85
Face Value
10.00
Total Debt
0
Net Working Capital
-49
Contingent Liabilities
75
Book Value per Share
442.85
Face Value
10.00
Mar 2026
Equity Capital
85
4,139
Trade Payables
575
2,180
Total Liabilities
6,978
2,093
Capital Work in Progress
1,343
43
123
508
Cash & Bank
112
2,757
Total Assets
6,978
Total Debt
0
Net Working Capital
-169
Contingent Liabilities
75
Book Value per Share
495.31
Face Value
10.00
Total Debt
0
Net Working Capital
-169
Contingent Liabilities
75
Book Value per Share
495.31
Face Value
10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

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
1.03
Cumulative 5-Year FCF
0
OCF / Net Profit
1.03
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
1.30
Cumulative 5-Year FCF
0
OCF / Net Profit
1.30
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

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023
EPS (₹)
62.82
Book Value (₹)
364.94
Dividend per Share (₹)
12.00
Cash EPS (₹)
92.47
Operating Margin %
27.86%
Net Margin %
17.09%
ROE %
18.46%
ROCE %
21.39%
11.20%
Debtor Days
48
Inventory Days
9
Payable Days
163
-107
Debt to Equity (x)
0.00x
Interest Coverage (x)
98.68x
2.05x
Revenue Growth %
48.47%
Operating Profit Growth %
45.29%
Net Profit Growth %
4.25%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2024
EPS (₹)
49.99
Book Value (₹)
402.52
Dividend per Share (₹)
12.00
Cash EPS (₹)
73.55
Operating Margin %
25.17%
Net Margin %
15.40%
ROE %
13.03%
ROCE %
17.66%
7.99%
Debtor Days
58
Inventory Days
11
Payable Days
219
-150
Debt to Equity (x)
0.00x
Interest Coverage (x)
79.57x
1.67x
Revenue Growth %
-11.70%
Operating Profit Growth %
-10.79%
Net Profit Growth %
-20.43%
-20.43%
P/E (x)
128.19x
P/B (x)
15.92x
Dividend Yield %
0.19%
68.87x
Mar 2025
EPS (₹)
52.51
Book Value (₹)
442.85
Dividend per Share (₹)
12.00
Cash EPS (₹)
77.58
Operating Margin %
30.64%
Net Margin %
18.02%
ROE %
12.42%
ROCE %
17.16%
7.62%
Debtor Days
64
Inventory Days
14
Payable Days
375
-298
Debt to Equity (x)
0.00x
Interest Coverage (x)
49.03x
0.96x
Revenue Growth %
-10.23%
Operating Profit Growth %
6.88%
Net Profit Growth %
5.04%
5.04%
P/E (x)
119.04x
P/B (x)
14.11x
Dividend Yield %
0.19%
63.82x
Mar 2026
EPS (₹)
64.59
Book Value (₹)
495.31
Dividend per Share (₹)
12.00
Cash EPS (₹)
92.13
Operating Margin %
35.53%
Net Margin %
21.77%
ROE %
13.77%
ROCE %
18.52%
8.40%
Debtor Days
64
Inventory Days
17
Payable Days
359
-278
Debt to Equity (x)
0.00x
Interest Coverage (x)
51.15x
0.87x
Revenue Growth %
1.82%
Operating Profit Growth %
17.22%
Net Profit Growth %
23.01%
23.01%
P/E (x)
105.41x
P/B (x)
13.75x
Dividend Yield %
0.18%
59.36x

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