Linde India Limited
₹5,648.65-₹72.30 (-1.3%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹51,732 Cr
- P/E
- 102.0x
- Revenue
- ₹2,485 Cr
Price chart
Technical chartScreen technicals →-6.8% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -10.8%
- 3M
- -15.0%
- 6M
- -22.8%
- 1Y
- -6.8%
- 5Y
- +123.2%
52-week range
Day change -₹72.30 (-1.3%) from ₹5,721 to ₹5,649 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in LINDEINDIA, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Large-cap with ₹51.7K Cr market capitalisation
Concerns1
- Valuation elevated — PE of 102.0x is 115% above peer average of 47.5x
Rule-based from financial data. Not advice.
About the company
Linde India Limited manufactures and sells industrial and medical gases in India. It operates through Gases, Related Products and Services; and Project Engineering Division segments. The Gases, Related Products and Services segment produces and sells oxygen, nitrogen, and argon gases.
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Linde India Limited manufactures and sells industrial and medical gases in India. It operates through Gases, Related Products and Services; and Project Engineering Division segments. The Gases, Related Products and Services segment produces and sells oxygen, nitrogen, and argon gases. This segment engages in the provision of pipeline gas supply to steel, glass, and chemical industries; liquefied gases through cryogenic tankers to various industrial sectors; and compressed gas in cylinders to fabrication, manufacturing, and construction industries. It offers gases, such as medical oxygen, synthetic air, and nitrous oxide for pharmaceutical use, as well as medical gas distribution systems to hospitals. The Project Engineering Division is involved in the design, engineering, manufacture, and commissioning of cryogenic and non-cryogenic air separation plants (ASUs), vacuum pressure swing adsorption (VPSA) units, and nitrogen plants; and the sale of distillation columns, cryogenic storage tanks, and vaporizers. It serves various industries, such as steel, automotive, pharma, metal fabrication, chemicals, food and beverage, solar panels, science and research, natural gas and oil refining, petrochemicals, fertilizers, electronics, and metal processing, as well as hospitals and healthcare establishments. The company was formerly known as BOC India Limited and changed its name to Linde India Limited in February 2013. Linde India Limited was incorporated in 1935 and is headquartered in Kolkata, India. Linde India Limited is a subsidiary of The BOC Group Limited.
- Sector
- Materials
- Shares outstanding
- 8.5 Cr shares
- ISIN
- INE473A01011
- BSE code
- 523457
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹51,732 Cr
- P/E
- 102.0x
- P/B
- 13.1x
- Earnings yield
- 1.0%
- 52-week high
- ₹7,852.75
- 52-week low
- ₹5,634.50
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹2,485 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -10.3%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 5.2%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹437 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -30.5%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹208 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 9.1%
Solvency and efficiency
- Current ratio
- 1.87
- Debt / Equity
- 0.01
- Debt / Assets
- 0.00
- Financial leverage
- 1.39
- Cash / Market cap
- 4.7%
- Cash per share
- ₹287.85
- Debtor days
- 63 days
- Inventory turnover
- 11.41
- Cash conversion cycle
- -139 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹18 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹1,720 Cr |
| Sales | Operating profit | ₹765 Cr |
| Operating profit | Interest | ₹13 Cr |
| Operating profit | Depreciation | ₹214 Cr |
| Operating profit | Profit before tax | ₹538 Cr |
| Other income | Profit before tax | ₹68 Cr |
| Profit before tax | Tax and other | ₹158 Cr |
| Profit before tax | Net profit | ₹448 Cr |
Revenue and net profit
Revenue fell 10.3% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2020 | ₹1,471 Cr | ₹156 Cr |
| FY2021 | ₹2,112 Cr | ₹514 Cr |
| FY2024 | ₹2,769 Cr | ₹426 Cr |
| FY2025 | ₹2,485 Cr | ₹448 Cr |
Cash flows
FY2025: ₹584 Cr from operations, -₹721 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2020 | ₹339 Cr | ₹285 Cr |
| FY2021 | ₹589 Cr | ₹687 Cr |
| FY2023 | ₹629 Cr | ₹323 Cr |
| FY2024 | ₹437 Cr | -₹102 Cr |
| FY2025 | ₹584 Cr | -₹721 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹2,485 Cr-10.3%1Y
- Net profit
- ₹448 Cr+5.2%1Y
- Cash from operations
- ₹584 Cr
- Free cash flow
- -₹721 Cr
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹2,485 Cr | ₹765 Cr | — | ₹448 Cr | ₹584 Cr | -₹721 Cr | — | -10.3% | +5.2% |
Monthly returns
Month-by-month returns of LINDEINDIA across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹5,110 Cr |
| Equity capital | ₹85 Cr |
| Reserves | ₹3,694 Cr |
| Borrowings | ₹42 Cr |
| Other liabilities | ₹1,289 Cr |
| Assets | ₹5,110 Cr |
| Fixed assets | ₹1,925 Cr |
| Capital work in progress | ₹975 Cr |
| Investments | ₹27 Cr |
| Other assets | ₹2,183 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
LINDEINDIA trades at 102.0x earnings against a peer median of 35.5x (a 188% premium).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Linde India LimitedLINDEINDIAthis companyP/E ↑ premium | ₹51,732 Cr | 102.0x | 13.1x | — | — |
| Lloyds Metals and Energy LimitedLLOYDSME | ₹67,135 Cr | 36.6x | 8.4x | 44.2% | 37.5x |
| National Aluminium Co. Ltd.NATIONALUM | ₹65,660 Cr | 10.7x | 3.3x | 14.1% | 18.1x |
| UPL LimitedUPL | ₹65,214 Cr | 60.4x | 4.8x | 16.0% | 42.4x |
| Jindal Stainless LimitedJSL | ₹64,789 Cr | 24.0x | 3.7x | 18.5% | 14.8x |
| Steel Authority of India Ltd.SAIL | ₹61,020 Cr | 23.1x | 1.1x | 5.0% | 7.5x |
| Hindustan Copper Ltd.HINDCOPPER | ₹52,185 Cr | 91.0x | 17.4x | 12.9% | 86.8x |
| PI Industries LimitedPIIND | ₹49,585 Cr | 28.1x | 4.5x | 19.9% | 21.5x |
| J.K. CEMENT LTDJKCEMENT | ₹44,693 Cr | 40.9x | 6.9x | 15.5% | 23.0x |
| Peer median | — | 35.5x | 3.7x | 12.9% | 19.2x |
Year-to-date ROI
LINDEINDIA since 1 January, against earlier years.
Historical volatility
LINDEINDIA's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2024 | 25.0% |
| FY2025 | 31.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹2,485 Cr |
| Costs | |
| Interest | ₹13 Cr |
| Expenses | ₹1,720 Cr |
| Operating profitOperating Profit | ₹765 Cr |
| Other income and charges | |
| Profit before tax | ₹606 Cr |
| Tax | |
| Net profitNet Profit | ₹448 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹5,110 Cr |
| Equity capitalEquity Capital | ₹85 Cr |
| Reserves | ₹3,694 Cr |
| Borrowings | ₹42 Cr |
| Other liabilitiesOther Liabilities | ₹1,289 Cr |
| AssetsTotal Assets | ₹5,110 Cr |
| Fixed assetsFixed Assets | ₹1,925 Cr |
| Capital work in progressCWIP | ₹975 Cr |
| Investments | ₹27 Cr |
| Other assetsOther Assets | ₹2,183 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹584 Cr |
| Investing cash flowCash from Investing Activity | -₹1,305 Cr |
| Financing cash flowCash from Financing Activity | -₹112 Cr |
| Change in cashNet Cash Flow | -₹833 Cr |
Learn while you research
Academy chapters picked for Linde India Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 102.0, learn when high multiples are justified.6 min read
- 04 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read
- 05 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read
- 06 How to Read a Cash-Flow StatementProfit can be manipulated; cash flow rarely lies.7 min read