Arthneeti

Linde India Q1 FY26 Share Price & Earnings Call Analysis

₹5,758.00+1.88% today
Market cap
₹49,104 Cr
P/E
89.47
ROE
13.74%
PEG
63.91
Price to sales
18.50
Debt to equity
0.02
52W high / low
₹7,848 / ₹5,632
Sales growth (5Y)
11.46%
EBITDA margin
34.39%
Net profit margin
21.74%
Promoter holding
75.00%
Sales (last year)
₹2,654 Cr

Linde India Limited, a subsidiary of BOC Group,UK (owns 75% stake in the co), is primarily engaged in manufacture of industrial and medical gases and construction of cryogenic and non cryogenic air separation plants.[1]

Potential multibaggers · Q2 FY27

Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Linde India rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Chemicals & Petrochemicals companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹234 Cr3.0
240%+Flat₹3,888 Cr48.5
340%+Flat₹3,514 Cr4.3
440%+Flat₹180 Cr11.9
540%+Flat₹138 Cr15.1
620–40%Up 2%+₹1.70L Cr85.4

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Linde India announcements

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Financials of Linde India

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Linde India

Quarterly Results

Quarter-by-quarter operating performance

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales +697630721711706630653634606592571644701
Expenses +529444557538520452469456414382374362444
Operating Profit168186164174186179184179192210197282257
OPM %24%30%23%24%26%28%28%28%32%35%34%44%37%
Other Income +282218192218191619134453
Interest1211142227336
Depreciation48664950515251525556565662
Profit before tax146140132141156141150141155161142226243
Tax %23%30%26%24%25%26%25%26%26%27%26%25%21%
Net Profit +1139998107117104112104114118105169192
EPS in Rs13.2711.5811.5112.5113.7412.2313.0812.2413.3713.8212.3219.8222.46

Financials of Linde India

Profit & Loss

Annual income statement trend

Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023 15mMar 2024Mar 2025TTM
Sales +1,4281,4911,5671,8252,0332,1921,7621,4712,1123,1362,7692,4852,508
Expenses +1,1671,2141,3371,5391,7051,8661,3471,0961,5642,3712,0661,7201,562
Operating Profit261277230287328326415375548765702765946
OPM %18%19%15%16%16%15%24%25%26%24%25%31%38%
Other Income +59112234112386244348109776874
Interest74103901161161038663671318
Depreciation129181162195206199177176181253201214230
Profit before tax117411016471,013236711614571606772
Tax %34%-51%-4,164%-31%-17%29%28%34%28%13%25%26%
Net Profit +77523131933727156514536426448584
EPS in Rs9.070.632.751.572.223.9385.2718.2460.2662.8249.9952.5168.42
Dividend Payout %17%237%27%48%45%38%12%16%22%19%24%23%

Financials of Linde India

Balance Sheet

Capital structure and asset base

Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital85858585858585858585858585
Reserves1,3421,3041,3071,3101,3221,3422,0522,1182,6063,0293,3493,6943,866
Borrowings +1,5281,5641,3881,4451,2821,19910872422214267
Other Liabilities +1,0119268837226807599701,0481,2871,2461,3241,2891,316
Total Liabilities3,9663,8803,6643,5633,3693,3853,2153,2594,0034,3824,7805,1105,334
Fixed Assets +1,6652,2012,1582,5732,4982,1622,0351,9891,8691,7621,8221,9251,949
CWIP7443565778036445317682254839751,266
Investments1515151515002216272727
Other Assets +1,5421,3089158958211,1791,1271,2512,0642,3782,4482,1832,093
Total Assets3,9663,8803,6643,5633,3693,3853,2153,2594,0034,3824,7805,1105,334

Financials of Linde India

Cash Flows

Operating, investing and financing cash movement

Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025
Cash from Operating Activity +229271242293252376327339589629437584
Cash from Investing Activity +-385-264-58-128-59-73981-5498-306-539-1,305
Cash from Financing Activity +169-8-222-80-261-216-1,193-201-28-119-105-112
Net Cash Flow12-1-3785-688711584659203-208-833
Free Cash Flow-1585181160184286251271454280-127-739
CFO/OP93%106%101%104%79%118%82%98%121%107%84%101%

Financials of Linde India

Ratios

Working capital efficiency and return ratios

Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025
Debtor Days7475787163617910173476357
Inventory Days1041531411029166577237223269
Days Payable424541466447348293327477312156235349
Cash Conversion Cycle-246-313-247-274-194-166-190-303-202-87-139-224
Working Capital Days-66-8116-70-69-81-226-3-9-11-29
ROCE %5%3%3%4%5%6%11%10%17%21%17%17%
17out of 100

Momentum score · price trend

17 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−4.2%55%
Last 6 months−22.6%16%
Last 3 months−17.5%25%

The price is 39.3% below its all-time high of ₹9,481.45 (18 May 2024). Stocks more than 20% below their peak have their score halved, so 33 became 17.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Linde India: 0.4 × 55 + 0.4 × 16 + 0.2 × 25 = 33, halved to 17 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Linde India's management said in earlier quarters

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