LINC

Linc financials

Market cap
₹579 Cr
Sector
Fast Moving Consumer Goods
Calls analysed
7
Latest concall · Q1 FY27 · call held 07 Aug 2026

Linc Limited Q1 FY27

Operating EBITDA 1,209 lakhs EBITDA Margin 8.7% −1%PAT 581 lakhs PAT Margin 4.2% −1%

What went well

  • Operating Income grew 1.4% YoY to INR 13,895 lakhs, demonstrating stable performance.
  • E-commerce segment registered robust growth of 32%, supported by LINC On subsidiary.
  • General trade grew by 8%, indicating sustained demand for the product portfolio.

What to watch

  • Corporate sales declined by 14% YoY against a high base.
  • Export revenue declined by 3% YoY due to geopolitical uncertainty.
Read the full call →

What Linc Limited does

Linc Limited manufactures and markets writing instruments and stationery under the legacy 'Linc' and premium 'Pentonic' brands, spanning ball pens, gel pens, fountain pens, mechanical pencils, markers, highlighters, fine liners, crayons and calculators. It runs integrated manufacturing units in Umbergaon (Gujarat) and Serakole (West Bengal), supplemented by a new Kolkata factory and a Mitsubishi-JV unit coming up in Gujarat, and distributes through a multi-tier network of channel partners, distributors and retailers across urban, semi-urban and rural India. It also licenses/partners with Mitsubishi Pencil (Uniball) for the premium segment and exports through distributor and JV arrangements to Southeast Asia, the Middle East, USA, UK, Europe, South America and Africa.

Segments

  • Writing Instruments – Own Brands (Premium)
  • Writing Instruments – Own Brands (Mass)
  • Writing Instruments – Licensed Brands
  • Other Products – Own Brands
  • Other Products – Licensed Brands
Manufacturing facilities
3 (2 main-company units in Gujarat/West Bengal + 1 subsidiary unit)
Combined production capacity
60 crore pens/year
Export presence
50+ countries (incl. SE Asia, Middle East, USA, UK, Europe, South America, Africa, Russia/CIS)
Retailers serviced
2.60 lakh+
Distributors
4,483
Channel partners
40
Founded 1976Headquarters Salt Lake, Kolkata, West Bengal, India Company website

Guidance record · Q1 FY27

what the last two calls moved 10 tracked 3 delivered 3 missed 4 open
  • Mitsubishi JV Production Start delivered, diluted said Q3 FY25 Promised: July next financial year (FY26) Q1 FY27: The JV remains operationally stable, confirming the 'achieved' status.
  • FY26 Revenue missed said Q3 FY25 Promised: INR600 crores Q1 FY27: Target period FY26 has passed. The final verdict remains 'missed'.
  • Bengal Manufacturing Facility Operationalization delayed said Q3 FY25 Promised: Q2 or Q3 of next financial year (FY26) Q1 FY27: Timeline re-confirmed for Q3 FY27, with no further slippage reported this quarter.

All 10 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 1.4%, net profit down 14.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue137 122 154 137 139 +1%129 +6%138 −11%139 +1%
EBITDA16 15 19 13 16 −4%13 −12%18 −8%12 −8%
Net profit9 9 12 7 8 −4%7 −20%10 −12%6 −14%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −25.5% 1Y

₹90₹100₹110₹120₹130Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 10 Nov 2025Q3 FY26 — 12 Feb 2026Q4 FY26 — 27 May 2026Q1 FY27 — 7 Aug 2026

1Y: ₹128.36 on 10 Sept 2025 → ₹95.61. High ₹130.64 (3 Nov 2025), low ₹86.57 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−1.4%
7 Aug
Q4 FY26
−2.7%
27 May
Q3 FY26
−5.8%
12 Feb
Q2 FY26
+1.8%
10 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 3.7% a year over 3 years, FY23 to FY26. Operating margin narrowed to 11.0%.

Year endingFY23FY24FY25FY26
Revenue₹486 Cr₹508 Cr₹543 Cr₹543 Cr
Operating profit₹62 Cr₹56 Cr₹64 Cr₹59 Cr
Operating margin12.8%11.1%11.9%11.0%
Interest₹0 Cr₹3 Cr₹3 Cr₹3 Cr
Depreciation₹15 Cr₹15 Cr₹15 Cr₹15 Cr
Net profit₹38 Cr₹34 Cr₹38 Cr₹33 Cr
Net margin7.7%6.8%6.9%6.1%
Cash from operations₹43 Cr₹38 Cr₹57 Cr₹33 Cr
Free cash flow₹19 Cr₹11 Cr₹40 Cr₹0 Cr
ROCE——22.0%19.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹15 Cr₹15 Cr₹15 Cr₹15 Cr₹30 Cr₹30 Cr
Reserves₹120 Cr₹128 Cr₹162 Cr₹190 Cr₹212 Cr₹228 Cr
Borrowings₹9 Cr₹3 Cr₹1 Cr₹26 Cr₹21 Cr₹27 Cr
Other liabilities₹57 Cr₹55 Cr₹59 Cr₹77 Cr₹78 Cr₹72 Cr
Total liabilities₹200 Cr₹202 Cr₹237 Cr₹307 Cr₹341 Cr₹357 Cr
Fixed assets₹68 Cr₹81 Cr₹89 Cr₹115 Cr₹110 Cr₹107 Cr
Capital work in progress₹3 Cr₹1 Cr₹1 Cr₹9 Cr₹21 Cr₹34 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹15 Cr₹10 Cr
Other assets₹129 Cr₹119 Cr₹147 Cr₹183 Cr₹195 Cr₹206 Cr
Total assets₹200 Cr₹202 Cr₹237 Cr₹307 Cr₹341 Cr₹357 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

The ownership split has held steady since Jun 2025. The shareholder count shrank 10% to 17,742.

Promoters
61.0%
FIIs
0.9%
Public
38.0%

Since Jun 2025

  • FIIs −0.02 pp
  • Public +0.01 pp
  • Promoters 0.00 pp

How it drifted, 12 quarters

Over this window promoters went from 59.3% to 61.0% — +1.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 59.3%, FIIs 1.4%, DIIs 0.4%, Public 38.9%.Dec '23: Promoters 59.4%, FIIs 1.4%, DIIs 0.4%, Public 38.8%.Mar '24: Promoters 59.5%, FIIs 1.3%, DIIs 0.4%, Public 38.9%.Jun '24: Promoters 59.5%, FIIs 1.0%, DIIs 0.4%, Public 39.1%.Sep '24: Promoters 59.4%, FIIs 1.1%, Public 39.5%.Dec '24: Promoters 59.4%, FIIs 1.1%, Public 39.4%.Mar '25: Promoters 61.0%, FIIs 1.1%, Public 37.9%.Jun '25: Promoters 61.0%, FIIs 0.9%, Public 38.0%.Sep '25: Promoters 61.0%, FIIs 0.9%, Public 38.0%.Dec '25: Promoters 61.0%, FIIs 0.9%, Public 38.1%.Mar '26: Promoters 61.0%, FIIs 0.8%, Public 38.1%.Jun '26: Promoters 61.0%, FIIs 0.9%, Public 38.0%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Linc Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Mitsubishi Pencil Co Ltd 13.45%unchanged
Sarita Jalan 8.72%unchanged
Shobha Jalan 6.83%unchanged
Suraj Mal Jalan Trust (Trustee Suraj Mal Jalan) 6.18%unchanged
Aloke Jalan 5.96%+1.89 pp
Deepak Jalan 4.95%+2.10 pp
Rohit Deepak Jalan Huf (Karta Rohit Deepak Jalan 4.75%unchanged
Aakash Aloke Jalan 4.59%+0.17 pp
Utkarsh Aloke Jalan 4.51%+0.17 pp
Rohit Deepak Jalan 3.62%+0.17 pp
Ekta Jalan 3.46%+0.17 pp
Devanshi Jalan 2.79%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Growth the price implies
A decline
for 7 years, fading to 4%
It has actually compounded at
Not enough history
The gap
—
between what it did and what it must do
Price today ₹95.61

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Linc Limited

Guides on how to read this kind of business and the numbers that matter.