Linde India Limited
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.
Valuation
Profitability
Returns
Solvency
AI Summary
Indian StockRule-based from financial data. Not advice.
Historically, Mar has averaged the highest return (+14.4%); Oct the lowest (-6.3%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.9%Neutral MonthJan 2026: +0.86% | +12.2%Positive MonthFeb 2026: +12.16% | +1.3%Neutral MonthMar 2026: +1.26% | +7.5%Positive MonthApr 2026: +7.48% | -1.6%Neutral MonthMay 2026: -1.55% | +1.3%Neutral MonthJun 2026: +1.34% | -8.6%*Negative MonthJul 2026: -8.65% | β | β | β | β | β |
| 2025 | +4.7%Positive MonthJan 2025: +4.73% | -5.8%Negative MonthFeb 2025: -5.82% | +5.7%Positive MonthMar 2025: +5.68% | +1.3%Neutral MonthApr 2025: +1.32% | +18.5%Positive MonthMay 2025: +18.50% | -11.3%Negative MonthJun 2025: -11.25% | -1.1%Neutral MonthJul 2025: -1.12% | -3.1%Negative MonthAug 2025: -3.14% | -2.1%Negative MonthSep 2025: -2.14% | -3.5%Negative MonthOct 2025: -3.53% | -0.9%Neutral MonthNov 2025: -0.92% | -0.4%Neutral MonthDec 2025: -0.38% |
| 2024 | -0.8%Neutral MonthJan 2024: -0.84% | -3.7%Negative MonthFeb 2024: -3.73% | +19.1%Positive MonthMar 2024: +19.08% | +28.8%Positive MonthApr 2024: +28.80% | +5.3%Positive MonthMay 2024: +5.27% | -4.5%Negative MonthJun 2024: -4.54% | -1.6%Neutral MonthJul 2024: -1.61% | -11.4%Negative MonthAug 2024: -11.45% | +17.3%Positive MonthSep 2024: +17.31% | -9.8%Negative MonthOct 2024: -9.78% | -9.6%Negative MonthNov 2024: -9.58% | -13.3%Negative MonthDec 2024: -13.28% |
| 2023 | -3.4%Negative MonthJan 2023: -3.36% | +12.4%Positive MonthFeb 2023: +12.38% | +8.3%Positive MonthMar 2023: +8.27% | -1.1%Neutral MonthApr 2023: -1.14% | -0.7%Neutral MonthMay 2023: -0.75% | +9.1%Positive MonthJun 2023: +9.07% | +15.5%Positive MonthJul 2023: +15.54% | +26.0%Positive MonthAug 2023: +25.99% | -5.2%Negative MonthSep 2023: -5.16% | +0.6%Neutral MonthOct 2023: +0.62% | -4.2%Negative MonthNov 2023: -4.18% | -1.8%Neutral MonthDec 2023: -1.84% |
| 2022 | +9.8%Positive MonthJan 2022: +9.78% | +0.5%Neutral MonthFeb 2022: +0.53% | +37.7%Positive MonthMar 2022: +37.74% | -5.3%Negative MonthApr 2022: -5.31% | -16.5%Negative MonthMay 2022: -16.48% | +6.8%Positive MonthJun 2022: +6.76% | +13.8%Positive MonthJul 2022: +13.77% | -5.8%Negative MonthAug 2022: -5.83% | -3.5%Negative MonthSep 2022: -3.55% | -7.0%Negative MonthOct 2022: -7.03% | -0.4%Neutral MonthNov 2022: -0.43% | +12.1%Positive MonthDec 2022: +12.11% |
| 2021 | β | β | β | β | β | +1.5%Neutral MonthJun 2021: +1.55% | +6.2%Positive MonthJul 2021: +6.22% | +31.2%Positive MonthAug 2021: +31.16% | +13.8%Positive MonthSep 2021: +13.84% | -11.6%Negative MonthOct 2021: -11.59% | +8.4%Positive MonthNov 2021: +8.43% | -0.4%Neutral MonthDec 2021: -0.40% |
| AvgΒ±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation β the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position β all Januaries together, all Februaries together, and so on β to show whether a given month has leaned positive or negative historically. βSimpleβ counts each month as +1 or β1. βWeightedβ gives larger moves more influence: +2 above +10%, β2 below β10%. With only 6 years of history for this asset, each monthβs score reflects a small number of observations β read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the assetβs full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each dayβs closing price by the price on January 1st of that year (or the assetβs first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen β at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in βAverage fromβ, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
Historical Performance
Revenue, profitability, and cash flow trends (βΉ Crores)
Revenue (10Y)
Operating Income (10Y)
Net Profit (10Y)
Operating Margin % (10Y)
Dividend Payout % (10Y)
Free Cash Flow (10Y)
Growth Summary
Latest fiscal year: Mar 2025
Historical Growth
Year-by-year revenue, profitability, and cash flow (βΉ Crores, last 10 years)
| Year | Revenue | Op. Income | Net Profit | CFO | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|---|
| Mar 2025 | βΉ2.48 K Cr | β | βΉ448.00 Cr | β | β | β | -10.3% | 5.2% |
| Mar 2024 | βΉ2.77 K Cr | β | βΉ426.00 Cr | β | β | β | -11.7% | -20.5% |
| Mar 2023 | β | β | β | β | β | β | β | β |
| Mar 2021 | βΉ2.11 K Cr | β | βΉ514.00 Cr | β | β | β | 43.6% | 229.5% |
| Mar 2020 | βΉ1.47 K Cr | β | βΉ156.00 Cr | β | β | β | -16.5% | -78.5% |
| Mar 2019 | βΉ1.76 K Cr | β | βΉ727.00 Cr | β | β | β | -19.6% | 2103.0% |
| Mar 2018 | βΉ2.19 K Cr | β | βΉ33.00 Cr | β | β | β | 7.8% | 73.7% |
| Mar 2017 | βΉ2.03 K Cr | β | βΉ19.00 Cr | β | β | β | 11.4% | 46.2% |
| Mar 2016 | βΉ1.82 K Cr | β | βΉ13.00 Cr | β | β | β | 16.5% | -43.5% |
| Mar 2015 | βΉ1.57 K Cr | β | βΉ23.00 Cr | β | β | β | 5.1% | 360.0% |
Financial Statements
Income statement, balance sheet, and cash flow (βΉ Crores, as reported)
Consolidated Figures in USD Millions.
| Unnamed: 0 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2023 15m | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Net Sales | 1,428 | 1,491 | 1,567 | 1,825 | 2,033 | 2,192 | 1,762 | 1,471 | 2,112 | 3,136 | 2,769 | 2,485 | 2,508 |
| Total Expenses | 1,167 | 1,214 | 1,337 | 1,539 | 1,705 | 1,866 | 1,347 | 1,096 | 1,564 | 2,371 | 2,066 | 1,720 | 1,562 |
| EBIT / Operating Profit | 261 | 277 | 230 | 287 | 328 | 326 | 415 | 375 | 548 | 765 | 702 | 765 | 946 |
| OPM % | 18 | 19 | 15 | 16 | 16 | 15 | 24 | 25 | 26 | 24 | 25 | 31 | 38 |
| Other Income | 59 | 11 | 22 | 34 | 11 | 23 | 862 | 44 | 348 | 109 | 77 | 68 | 74 |
| Finance Costs | 74 | 103 | 90 | 116 | 116 | 103 | 86 | 6 | 3 | 6 | 7 | 13 | 18 |
| Depreciation & Amortisation | 129 | 181 | 162 | 195 | 206 | 199 | 177 | 176 | 181 | 253 | 201 | 214 | 230 |
| Profit Before Tax | 117 | 4 | 1 | 10 | 16 | 47 | 1,013 | 236 | 711 | 614 | 571 | 606 | 772 |
| Tax % | 34 | -51 | -4,164 | -31 | -17 | 29 | 28 | 34 | 28 | 13 | 25 | 26 | - |
| Net Profit / PAT | 77 | 5 | 23 | 13 | 19 | 33 | 727 | 156 | 514 | 536 | 426 | 448 | 584 |
| EPS (βΉ) | 9.07 | 0.63 | 2.75 | 1.57 | 2.22 | 3.93 | 85.27 | 18.24 | 60.26 | 62.82 | 49.99 | 52.51 | 68.42 |
| Dividend Payout % | 17 | 237 | 27 | 48 | 45 | 38 | 12 | 16 | 22 | 19 | 24 | 23 | - |
Peer Comparison
Materials sector peers, ranked by market cap
| Company | Market Cap | Revenue | P/E | P/B | EV/EBITDA | Rev G 1Y |
|---|---|---|---|---|---|---|
| Linde India Limitedthis co. | βΉ51.73 K Cr | βΉ2.48 K Cr | 102.00 | 13.14 | 0.00 | -10.3% |
| UltraTech Cement Ltd | βΉ3.55 L Cr | βΉ71.89 K Cr | 48.60 | 5.02 | 27.23 | 4.7% |
| JSW Steel Limited | βΉ2.88 L Cr | βΉ1.28 L Cr | 38.00 | 3.45 | 14.23 | -5.5% |
| Asian Paints Ltd. | βΉ2.77 L Cr | βΉ29.55 K Cr | 69.60 | 14.50 | 35.04 | -5.4% |
| Hindustan Zinc Ltd. | βΉ2.66 L Cr | βΉ33.97 K Cr | 25.50 | 19.57 | 18.58 | 17.4% |
| Coal India Limited | βΉ2.64 L Cr | βΉ1.59 K Cr | 12.40 | 13.24 | 16.33 | 5.1% |
| Vedanta Limited | βΉ2.49 L Cr | βΉ74.30 K Cr | 26.50 | 3.37 | 12.82 | 5.0% |
| Industry Average | β | βΉ10.75 K Cr | 47.54 | 5.23 | 30.19 | 121.8% |
