āagman

Not investment advice. Data and computed figures, for information only.

Linde India Ltd

NSE: LINDEINDIA
₹6,184.50
+₹186.50 (+3.11%)
NSE · 16 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹51,134 Cr
CMP
₹6,184.50
52-wk High / Low
₹8,049 / 5,673
P/E
93.6
P/B
12.0
Book Value
₹500.0
Div Yield
0.07%
ROCE
18.0%
ROE
13.6%
Face Value
₹10
D/E
0.02

Price+0.1% over 1Y

āagman read

Computed by āagman
Derived from 10 years and 14 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
6
/ 9
6 of 9 F-score tests passed
Graham Number
₹851
√(22.5 × EPS × book value per share)
ROIC
11.6%
vs 7.5% sector median
Cash flow to profit
1.43
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−554
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
12.7%
ROE × earnings retention ratio
ROE stability
2.7
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.02DII −0.09
Latest quarter vs the previous one
Cash-accrual divergence
−4.3%
of assets
Low = accruals track cash flow
Strengths
+Borrowings are down 94.5% since FY2016 (1445 to 79)
Watch-outs
−Price trades below its 200-day moving average (0.9x)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales721711706630653634606592571644701614694
Expenses557538520452469456414382374362444441494
Operating Profit164174186179184179192210197282257173201
OPM %22.7%24.5%26.3%28.4%28.2%28.2%31.7%35.5%34.5%43.8%36.7%28.2%29.0%
Other Income2021251921182213665577
Interest1114222733636
Depreciation49505152515255565656626162
Profit before tax134143159142152143157161144228245116140
Net Profit10010912010511410611611810717119377105
EPS (₹)11.7112.7514.0812.3613.3312.4813.6413.8812.5720.0522.679.0812.26

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 10 years + TTM
Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,8252,0332,1921,7621,4712,1123,1362,7692,4852,5312,654
Expenses1,5391,7051,8661,3471,0961,5642,3712,0661,7201,6221,741
Operating Profit287328326415375548765702765909913
OPM %15.7%16.1%14.9%23.6%25.5%25.9%24.4%25.4%30.8%35.9%34.4%
Other Income408158623633511385757475
Interest116116103866367131417
Depreciation195206199177176181253201214235241
Profit before tax1613391,013229698618579614733729
Net Profit191626727151507538434455549546
EPS (₹)2.231.903.0185.2717.7259.4763.0950.9053.3364.3764.06

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital85858585858585858585—
Reserves1,3561,3651,3772,0872,1492,6303,0553,3833,7354,181—
Borrowings1,4451,2821,19910872422214279—
Other Liabilities7226807599701,0451,2771,2381,3161,2801,463—
Total Liabilities3,6083,4123,4203,2503,2864,0174,4004,8055,1435,808—
Fixed Assets2,5732,4982,1622,0351,9891,8691,7621,8221,9252,093—
CWIP8036445317682254839751,343—
Investments6158004932507482—
Other Assets8958211,2141,1621,2762,0712,3802,4502,1682,291—
Total Assets3,6083,4123,4203,2503,2864,0174,4004,8055,1435,808—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity293252376327339589629437584786
Cash from Investing Activity−128−59−73981−5498−306−539−1,305−705
Cash from Financing Activity−80−261−216−1,193−201−28−119−105−112−116
Net Cash Flow85−688711584659203−208−833−35

Ratios

As of 31 Mar 2026
10 periods
Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—5.05.010.010.017.021.017.017.018.0
ROE %—————————13.6
EPS (₹)2.231.903.0185.2717.7259.4763.0950.9053.3364.37
Book Value (₹)—————————500.0
Face Value (₹)—————————10
P/E—————————93.6
Div Yield %—————————0.07
NPM %1.00.81.227.710.020.716.615.217.821.1
OPM %16.016.015.024.025.026.024.025.031.036.0
D/E1.000.880.820.050.000.010.010.010.010.02
P/B—————————12.0

Growth

As of 11 Oct 2026
Compounded sales growth
5 years+11.0%
3 years−7.0%
TTM+10.0%
Compounded profit growth
5 years+30.0%
3 years+1.0%
TTM+22.0%
Stock price CAGR
10 years+32.0%
5 years+18.0%
3 years−3.0%
Last year−3.0%
Return on equity
10 years10.0%
5 years14.0%
3 years13.0%
Last year14.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters75.00%75.00%75.00%75.00%75.03%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs5.82%5.82%2.93%1.54%1.98%1.62%2.59%2.77%2.31%2.63%2.05%2.03%
DIIs10.31%10.31%13.05%13.83%13.02%11.42%8.31%8.01%7.45%6.49%6.88%6.79%
Government————————————
Public8.87%8.87%9.02%9.63%9.97%11.96%14.10%14.23%15.23%15.90%16.08%16.17%
No. of shareholders19,62719,62721,08420,13119,53723,78348,53744,45752,22167,56963,16763,024
Change since Jun 2023 (pp)
Promoters +0.00FIIs −3.79DIIs −3.52Public +7.30

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015Closure of Trading WindowAnnouncement under Regulation 30 (LODR)-Newspaper PublicationUpdated Contact Details Of Key Managerial Personnel For Determining Materiality Of Events/Information And Making Disclosures
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2021
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2025PPTAug 2024PPTAug 2023PPTJun 2022PPTJun 2021PPT

Corporate actions

As of 6 Aug 2026
6 Aug 2026DIVIDENDDividend - Rs 4 Per Share/Special Dividend - 8 Per Share—
7 Aug 2025DIVIDENDDividend - Rs 4.50 Per Share & Special Dividend - Rs 7.50 Per Share—
5 Aug 2024DIVIDENDAnnual General Meeting/Dividend - Rs 4 Per Share/ Special Dividend - Rs 8 Per Share—
10 Aug 2023DIVIDENDAnnual General Meeting/Dividend - Rs 4.50 Per Share/Special Dividend -Rs 7.50 Per Share—
1 Jun 2022DIVIDENDAnnual General Meeting/Dividend - Rs 3.50 Per Share/Special Dividend - Rs 10 Per Share—
16 Jun 2021DIVIDEND Annual General Meeting/Dividend - Rs 3 Per Share—
10 Sep 2020DIVIDEND Annual General Meeting/Dividend - Rs 2.50 Per Share And Special Dividend - Rs 7.50 Per Share—
8 May 2019DIVIDEND Annual General Meeting / Dividend - Rs 1.50 Per Share—
6 Apr 2018DIVIDEND Annual General Meeting/ Dividend - Re 1 Per Share—
7 Apr 2017DIVIDEND Annual General Meeting/Dividend Re 0.75 Per Share—
6 May 2016DIVIDEND Annual General Meeting/ Dividend - Re 0.75/- Per Share (Book Closure Dates Revised)—
30 Apr 2015DIVIDENDAnnual General Meeting / Dividend - Rs 1.50/- Per Share—
12 May 2014DIVIDENDAnnual General Meeting/Dividend Rs 1.50 Per Share—
6 May 2013DIVIDENDAnnual General Meeting/Dividend Rs 1.50 Per Share—
4 May 2012DIVIDENDAnnual General Meeting And Dividend Rs.1.50 Per Share—
20 May 2011DIVIDENDAnnual General Meeting And Dividend Rs.1.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman