Linde India Ltd
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]
- Market Cap ₹ 53,670 Cr.
- Current Price ₹ 6,290
- High / Low ₹ 9,935 / 5,202
- Stock P/E 121
- Book Value ₹ 421
- Dividend Yield 0.06 %
- ROCE 17.4 %
- ROE 13.0 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 75.9% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 21.8%
Cons
- Stock is trading at 15.0 times its book value
* 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.
Peer comparison
Sector: Chemicals Industry: Chemicals
Part of BSE Dollex 200 BSE MidCap BSE Allcap Nifty MNC Nifty 500
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2023 15m | Mar 2024 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 1,825 | 2,033 | 2,192 | 1,762 | 1,471 | 2,112 | 3,136 | 2,769 | 2,524 | |
| 1,539 | 1,705 | 1,866 | 1,347 | 1,096 | 1,564 | 2,371 | 2,066 | 1,790 | |
| Operating Profit | 287 | 328 | 326 | 415 | 375 | 548 | 765 | 702 | 734 |
| OPM % | 16% | 16% | 15% | 24% | 25% | 26% | 24% | 25% | 29% |
| 40 | 8 | 15 | 862 | 36 | 335 | 113 | 85 | 81 | |
| Interest | 116 | 116 | 103 | 86 | 6 | 3 | 6 | 7 | 10 |
| Depreciation | 195 | 206 | 199 | 177 | 176 | 181 | 253 | 201 | 210 |
| Profit before tax | 16 | 13 | 39 | 1,013 | 229 | 698 | 618 | 579 | 595 |
| Tax % | -20% | -21% | 35% | 28% | 34% | 27% | 13% | 25% | |
| 19 | 16 | 26 | 727 | 151 | 507 | 538 | 434 | 442 | |
| EPS in Rs | 2.23 | 1.90 | 3.01 | 85.27 | 17.72 | 59.47 | 63.09 | 50.90 | 51.81 |
| Dividend Payout % | 34% | 53% | 50% | 12% | 17% | 23% | 19% | 24% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 5% |
| 3 Years: | 23% |
| TTM: | -9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 76% |
| 3 Years: | 42% |
| TTM: | 3% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 32% |
| 5 Years: | 63% |
| 3 Years: | 22% |
| 1 Year: | -26% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | 15% |
| Last Year: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 | 85 |
| Reserves | 1,356 | 1,365 | 1,377 | 2,087 | 2,149 | 2,630 | 3,055 | 3,383 | 3,501 |
| 1,445 | 1,282 | 1,199 | 108 | 7 | 24 | 22 | 21 | 42 | |
| 722 | 680 | 759 | 970 | 1,045 | 1,277 | 1,238 | 1,316 | 1,307 | |
| Total Liabilities | 3,608 | 3,412 | 3,420 | 3,250 | 3,286 | 4,017 | 4,400 | 4,805 | 4,936 |
| 2,573 | 2,498 | 2,162 | 2,035 | 1,989 | 1,869 | 1,762 | 1,822 | 1,817 | |
| CWIP | 80 | 36 | 44 | 53 | 17 | 68 | 225 | 483 | 791 |
| Investments | 61 | 58 | 0 | 0 | 4 | 9 | 32 | 50 | 32 |
| 895 | 821 | 1,214 | 1,162 | 1,276 | 2,071 | 2,380 | 2,450 | 2,297 | |
| Total Assets | 3,608 | 3,412 | 3,420 | 3,250 | 3,286 | 4,017 | 4,400 | 4,805 | 4,936 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| 293 | 252 | 376 | 327 | 339 | 589 | 629 | 437 | |
| -128 | -59 | -73 | 981 | -54 | 98 | -306 | -539 | |
| -80 | -261 | -216 | -1,193 | -201 | -28 | -119 | -105 | |
| Net Cash Flow | 85 | -68 | 87 | 115 | 84 | 659 | 203 | -208 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 71 | 63 | 61 | 79 | 101 | 73 | 47 | 63 |
| Inventory Days | 102 | 91 | 66 | 57 | 72 | 37 | 22 | 32 |
| Days Payable | 447 | 348 | 293 | 327 | 477 | 312 | 156 | 235 |
| Cash Conversion Cycle | -274 | -194 | -166 | -190 | -303 | -202 | -87 | -139 |
| Working Capital Days | -50 | -42 | -33 | -24 | 13 | -3 | -9 | -11 |
| ROCE % | 5% | 5% | 10% | 10% | 17% | 21% | 17% |
Documents
Announcements
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Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
24 Apr - Linde India confirms non-applicability of SEBI Large Corporate debt issuance rules.
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
24 Apr - SAT orders new valuer for Linde India; company assessing impact of interim order dated 17 April 2025.
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
3 Apr - Confirmation of compliance with SEBI regulations for Q1 2025.
- Closure of Trading Window 27 Mar
-
Announcement Under Regulation 30 Of SEBI (Listing Obligations
And Disclosure Requirements) Regulations, 2015
13 Mar - Linde India signs long-term gas supply contract with Asian Paints.
Annual reports
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Financial Year 2024
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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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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]