Linde India Limited
NSE: LINDEINDIA · Industrial Gases · sector
₹5,632.50NSE close 2026-10-26
Key numbers
Market cap₹48,036 cr
Price₹5,632.50
52w high / low₹8,049 / ₹5,632
P/E87.9xSector median 30.5x
P/B11.2xSector median 3.3x
Book value₹500.3
Dividend yield0.21%Sector median 0.21%
ROE13.5%Sector median 9.3%
ROCE16.2%Sector median 9.9%
OPM34.4%Sector median 15.2%
Debt / equity0.00xSector median 0.08x
EV/EBITDA52.5xSector median 24.6x
Interest cover40.0x
Current ratio0.86x
Sales growth 3y–Sector median +9.2%
Profit growth 3y–Sector median -57.9%
PEG4.02x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 8 companies in Industrial Gases (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹112 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 40.0x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 0 of the last 3 years.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 4% of net profit in the last 12 months.
- Debtor days went from 63 (FY24) to 73 (FY26).
- Dividend paid in 3 of the last 3 financial years.
- Price ₹5,632.50 on 2026-10-26: -30.0% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹8,573.45 · low ₹5,572.75
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 634 | 606 | 592 | 571 | 644 | 701 | 614 | 694 |
| EBITDA | 179 | 192 | 210 | 197 | 282 | 257 | 173 | 201 |
| OPM % | 28.2% | 31.7% | 35.5% | 34.5% | 43.8% | 36.6% | 28.1% | 28.9% |
| Other income | 16 | 19 | 13 | 4 | 4 | 4 | 6 | 6 |
| Net profit | 106 | 116 | 118 | 107 | 171 | 193 | 77 | 105 |
| EPS (₹) | 12.48 | 13.64 | 13.88 | 12.57 | 20.05 | 22.67 | 9.08 | 12.26 |
| Revenue YoY | +1.5% | +15.7% | +3.8% | +21.6% | ||||
| Profit YoY | +60.7% | +66.2% | -34.6% | -2.4% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|
| Revenue | 2,769 | 2,485 | 2,531 | 2,654 |
| EBITDA | 702 | 765 | 909 | 913 |
| Net profit | 434 | 455 | 549 | 546 |
| EPS (₹) | 50.90 | 53.33 | 64.37 | 64.06 |
| Revenue growth | -10.2% | +1.8% | +10.4% | |
| Profit growth | +4.8% | +20.7% | +21.9% | |
| Dividend / share (₹) | 4.50 | 4.00 | 4.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | – | – | +10.4% |
| Net profit | – | – | +21.9% |
| EPS | – | – | – |
| Share price | – | -15.2% (2y) | -4.2% |
Balance sheet
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Shareholders' equity | 3,468 | 3,820 | 4,267 |
| Borrowings | 0 | 0 | 0 |
| Cash & equivalents | 980 | 147 | 112 |
| Total assets | 4,805 | 5,143 | 5,808 |
| Fixed assets | 1,802 | 1,906 | 2,073 |
| Capital work in progress | 483 | 975 | 1,343 |
| Investments | 50 | 58 | 82 |
| Receivables | 481 | 385 | 508 |
| Inventory | 85 | 107 | 123 |
| Payables | 624 | 542 | 575 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Cash from operations | 437 | 584 | 786 |
| Cash from investing | -498 | -1,265 | -705 |
| Cash from financing | -146 | -152 | -116 |
| Capex | 572 | 1,331 | 766 |
| Free cash flow | -135 | -747 | 19 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| ROE % | 12.5% | 11.9% | 12.9% |
| ROCE % | 16.7% | 16.2% | 16.2% |
| Debtor days | 63 | 57 | 73 |
| Inventory days | 32 | 69 | 79 |
| Payable days | 235 | 349 | 370 |
| Cash conversion cycle (days) | -140 | -223 | -218 |
| Working capital days | 118 | -7 | -24 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 75.00% |
| FIIs | 2.12% |
| DIIs | 6.74% |
| of which Mutual funds | 6.28% |
| of which Insurance | 0.41% |
| Government | 0.00% |
| Public (non-institutions) | 16.13% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% |
| Promoter group | % |
|---|---|
| The BOC Group Ltd., U.K. | 75.00% |
| Public holders above 1% | % |
|---|---|
| Nippon Life India Trustee Ltd. through its various Funds | 2.82% |
| Manish Jain | 1.96% |
| Kotak Mutual Fund through its various Funds | 1.43% |
62,340 shareholders. Pledged: 0.00% of promoter shares.
Peers in Industrial Gases
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| LINDEINDIA | ₹48,036 cr | 87.9x | 11.2x | 13.5% | 16.2% | 34.4% | – | 0.21% |
| ELLEN | ₹4,244 cr | 35.2x | 4.3x | 12.3% | 13.9% | 34.5% | – | – |
| STEAMHOUSE | ₹3,095 cr | – | – | – | – | – | – | – |
| STALLION | ₹1,427 cr | 30.5x | 2.1x | 10.6% | 9.9% | 15.2% | – | – |
| HILLTONE | ₹481 cr | 46.6x | 20.7x | -3.6% | -3.5% | -4.6% | – | – |
| NOL | ₹28 cr | 2.3x | – | – | 14.6% | 25.0% | -21.3% | – |
| BHAGGAS | ₹15 cr | 5.8x | 0.9x | 6.6% | 7.7% | -803.1% | – | – |
| GAGAN | ₹8 cr | 29.9x | 2.4x | 8.1% | 8.9% | 7.2% | +39.7% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Gases, related products & services | ₹2,128 cr | 68.5% | ₹642 cr | 30.2% |
| Project engineering | ₹981 cr | 31.5% | ₹119 cr | 12.1% |
| Share of profit/(loss) from Joint ventures | ₹0 cr | – | ₹56 cr | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-06 | Dividend | Dividend - Rs 4 Per Share/Special Dividend - 8 Per Share |
| 2025-08-07 | Dividend | Dividend - Rs 4.50 Per Share & Special Dividend - Rs 7.50 Per Share |
| 2024-08-05 | Dividend | Annual General Meeting/Dividend - Rs 4 Per Share/ Special Dividend - Rs 8 Per Share |
| 2023-08-10 | Dividend | Annual General Meeting/Dividend - Rs 4.50 Per Share/Special Dividend -Rs 7.50 Per Share |
| 2022-06-01 | Dividend | Annual General Meeting/Dividend - Rs 3.50 Per Share/Special Dividend - Rs 10 Per Share |
| 2021-06-16 | Dividend | Annual General Meeting/Dividend - Rs 3 Per Share |
| 2020-09-10 | Dividend | Annual General Meeting/Dividend - Rs 2.50 Per Share And Special Dividend - Rs 7.50 Per Share |
| 2019-05-08 | Dividend | Annual General Meeting / Dividend - Rs 1.50 Per Share |
| 2018-04-06 | Dividend | Annual General Meeting/ Dividend - Re 1 Per Share |
| 2017-04-07 | Dividend | Annual General Meeting/Dividend Re 0.75 Per Share |
| 2016-05-06 | Dividend | Annual General Meeting/ Dividend - Re 0.75/- Per Share (Book Closure Dates Revised) |
| 2015-04-30 | Dividend | Annual General Meeting / Dividend - Rs 1.50/- Per Share |
| 2014-05-12 | Dividend | Annual General Meeting/Dividend Rs 1.50 Per Share |
| 2013-05-06 | Dividend | Annual General Meeting/Dividend Rs 1.50 Per Share |
| 2012-05-04 | Dividend | Annual General Meeting And Dividend Rs.1.50 Per Share |
| 2011-05-20 | Dividend | Annual General Meeting And Dividend Rs.1.50 Per Share |
| 2010-05-14 | Other | Agm/Div-Rs.1.50 Per Share |
| 2009-05-18 | Dividend | Agm/Dividend - 15% |
| 2008-05-15 | Dividend | Agm/Dividend - 20% |
| 2007-07-13 | Dividend | Agm/Dividend-25% |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY21
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Manufacturing of liquefied or compressed inorganic industrial or medical gases
- Construction: Construction of utility projects
| Sector | Commodities |
| Industry | Industrial Gases |
| Sub-industry | Industrial Gases |
| Symbol | LINDEINDIA |
| BSE code | 523457 |
| ISIN | INE473A01011 |
| Face value | ₹10.0 |
| Incorporated | 1935-01-24 |
| Website | www.lindeindia.in |
| Plants (India / abroad) | 24 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.