Linde India Ltd
₹ 8,296
-0.61%
29 Apr
4:01 p.m.
About
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]
Key Points
- Market Cap ₹ 70,744 Cr.
- Current Price ₹ 8,296
- High / Low ₹ 8,485 / 3,809
- Stock P/E 168
- Book Value ₹ 377
- Dividend Yield 0.05 %
- ROCE 20.8 %
- ROE 18.2 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 85.8% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 19.3%
- Debtor days have improved from 76.6 to 55.5 days.
Cons
- Stock is trading at 22.2 times its book value
- Company has a low return on equity of 13.0% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2023 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,153 | 1,324 | 1,428 | 1,491 | 1,567 | 1,825 | 2,033 | 2,192 | 1,762 | 1,471 | 2,112 | 3,136 | 2,769 | |
| 925 | 1,120 | 1,167 | 1,214 | 1,337 | 1,539 | 1,705 | 1,866 | 1,347 | 1,096 | 1,564 | 2,371 | 2,059 | |
| Operating Profit | 228 | 205 | 261 | 277 | 230 | 287 | 328 | 326 | 415 | 375 | 548 | 764 | 710 |
| OPM % | 20% | 15% | 18% | 19% | 15% | 16% | 16% | 15% | 24% | 25% | 26% | 24% | 26% |
| 18 | 74 | 59 | 11 | 22 | 34 | 11 | 23 | 862 | 44 | 348 | 109 | 80 | |
| Interest | 1 | 40 | 74 | 103 | 90 | 116 | 116 | 103 | 86 | 6 | 3 | 6 | 5 |
| Depreciation | 71 | 113 | 129 | 181 | 162 | 195 | 206 | 199 | 177 | 176 | 181 | 253 | 215 |
| Profit before tax | 175 | 126 | 117 | 4 | 1 | 10 | 16 | 47 | 1,013 | 236 | 711 | 614 | 570 |
| Tax % | 30% | 29% | 34% | -51% | -4,164% | -31% | -17% | 29% | 28% | 34% | 28% | 13% | |
| 122 | 89 | 77 | 5 | 23 | 13 | 19 | 33 | 727 | 156 | 514 | 536 | 421 | |
| EPS in Rs | 14.27 | 10.49 | 9.07 | 0.63 | 2.75 | 1.57 | 2.22 | 3.93 | 85.27 | 18.24 | 60.26 | 62.82 | 49.34 |
| Dividend Payout % | 11% | 14% | 17% | 237% | 27% | 48% | 45% | 38% | 12% | 16% | 22% | 19% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 9% |
| 3 Years: | 21% |
| TTM: | 11% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 26% |
| 5 Years: | 86% |
| 3 Years: | 63% |
| TTM: | -4% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 39% |
| 5 Years: | 77% |
| 3 Years: | 66% |
| 1 Year: | 109% |
| Return on Equity | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 11% |
| 3 Years: | 13% |
| Last Year: | 18% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2023 | Sep 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 |
| Reserves | 1,177 | 1,249 | 1,342 | 1,304 | 1,307 | 1,310 | 1,322 | 1,342 | 2,052 | 2,118 | 2,606 | 3,029 | 3,131 |
| 838 | 1,099 | 1,528 | 1,564 | 1,388 | 1,445 | 1,282 | 1,199 | 108 | 7 | 24 | 22 | 22 | |
| 880 | 981 | 1,011 | 926 | 883 | 722 | 680 | 759 | 970 | 1,048 | 1,287 | 1,246 | 1,238 | |
| Total Liabilities | 2,980 | 3,414 | 3,966 | 3,880 | 3,664 | 3,563 | 3,369 | 3,385 | 3,215 | 3,259 | 4,003 | 4,382 | 4,476 |
| 993 | 1,684 | 1,665 | 2,201 | 2,158 | 2,573 | 2,498 | 2,162 | 2,035 | 1,989 | 1,869 | 1,762 | 1,697 | |
| CWIP | 499 | 576 | 744 | 356 | 577 | 80 | 36 | 44 | 53 | 17 | 68 | 225 | 371 |
| Investments | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 0 | 0 | 2 | 2 | 16 | 16 |
| 1,474 | 1,139 | 1,542 | 1,308 | 915 | 895 | 821 | 1,179 | 1,127 | 1,251 | 2,064 | 2,378 | 2,391 | |
| Total Assets | 2,980 | 3,414 | 3,966 | 3,880 | 3,664 | 3,563 | 3,369 | 3,385 | 3,215 | 3,259 | 4,003 | 4,382 | 4,476 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 193 | 96 | 229 | 271 | 242 | 293 | 252 | 376 | 327 | 339 | 589 | 629 | |
| -419 | -166 | -385 | -264 | -58 | -128 | -59 | -73 | 981 | -54 | 98 | -306 | |
| 192 | 93 | 169 | -8 | -222 | -80 | -261 | -216 | -1,193 | -201 | -28 | -119 | |
| Net Cash Flow | -34 | 23 | 12 | -1 | -37 | 85 | -68 | 87 | 115 | 84 | 659 | 203 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 103 | 85 | 74 | 75 | 78 | 71 | 63 | 61 | 79 | 101 | 73 | 56 |
| Inventory Days | 140 | 86 | 104 | 153 | 141 | 102 | 91 | 66 | 57 | 72 | 37 | 22 |
| Days Payable | 475 | 310 | 424 | 541 | 466 | 447 | 348 | 293 | 327 | 477 | 312 | 158 |
| Cash Conversion Cycle | -232 | -139 | -246 | -313 | -247 | -274 | -194 | -166 | -190 | -303 | -202 | -80 |
| Working Capital Days | -19 | -9 | -32 | -45 | 27 | -50 | -42 | -39 | -20 | 6 | -3 | -9 |
| ROCE % | 9% | 4% | 5% | 3% | 3% | 4% | 5% | 6% | 11% | 10% | 17% | 21% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
23 Apr - Letter no. Sect/40 dated 23 April 2024 pursuant to intimation under Regulation 30 of SEBI (LODR) Regulations, 2015. You are requested to please take the …
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 19 Apr
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 18 Apr
- Certificate Under Regulation 40(9) Of The SEBI (LODR) Regulations, 2015 For The Year Ended 31 March 2024 17 Apr
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 12 Apr
Annual reports
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Financial Year 2023
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2010
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Financial Year 2009
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Business Segment
Gas and Related Products: It comprises of pipeline gas supplies to large industrial customers like primary steel, glass and chemical industries, supply of liquefied gases through Cryogenic tankers (Bulk) to cater to demand across a wide range of industrial sectors and compressed gas supply in cylinders (Packaged Gas) for meeting smaller demand for gases mainly across fabrication, manufacturing and construction industry.
Healthcare business: It provides high quality gases for pharmaceutical use such as medical oxygen, synthetic air and nitrous oxide in addition to providing state of the art medical gas distribution systems to major hospitals.
Project Engineering division (PED): It comprises the business of design, engineering, supply, installation, testing and commissioning of Air Separation plants and related projects on turnkey basis. [1][2]