Linde India share price & results
- Sept 2026
- Sept 2026
India's leading industrial gases producer, majority-owned by Linde plc, with a Project Engineering (PED) arm building air separation and process plants.
Price & Snapshot
Performance +15.6% 1Y
1Y: ₹5,878.5 on 7 Nov 2025 → ₹6,794.5. High ₹7,847.5 (7 May 2026), low ₹5,632.5 (26 Oct 2026).
- Previous close
- ₹6,759.5
- Market cap
- ₹57.9k Cr
- 52-week range
- ₹5,632.5 – ₹7,847.5
- One year
- +16.36%
- Price to earnings (TTM to Sept 2026)
- 117.30×
- Return on equity (TTM to Sept 2026)
- 11.26%
Reported
Key financial metrics & valuation ratios
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 723 | +12.3% YoY | Quarterly, as filed | Quarter to Sept 2026 | Revenue from operations as filed. |
| Operating margin | 32.0 | −12.0 pts YoY | Operating profit / revenue | Quarter to Sept 2026 | For the quarter; a change is in percentage points. |
| Net profit | 115 | −32.0% YoY | Quarterly, as filed | Quarter to Sept 2026 | Profit after tax as filed. |
| Return on equity | 11.26 | +1.2 pts | Trailing twelve months | TTM to Sept 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 0.99 | +30.7 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 13.22 | +12.1 pts | Trailing twelve months | TTM to Sept 2026 | Revenue change against the same period one year earlier. |
Business Mix
Where revenue comes from
3 operating segments · As of 30 Jun 2026
Live Summary
Overview
- Symbol
- NSE:LINDEINDIA
- Sector
- Chemicals
- Industry
- Commodities
- Exchange
- NSE
- Currency
- INR
What Linde India does
Based on the company's own presentations, annual report and earnings calls.
Linde India manufactures and distributes industrial, medical and specialty gases such as liquid oxygen, liquid nitrogen and liquid argon, supplying steel, healthcare, automotive, electronics, chemical and oil & gas customers through onsite pipeline supply, bulk cryogenic delivery and packaged cylinders. Its Project Engineering Division (PED) designs, builds and sells air separation units (ASUs) and related plants to third parties on a project basis. The company is 75%-owned by The BOC Group Ltd (UK), a wholly owned subsidiary of Linde plc, giving it access to Linde's global technology and engineering base.
Segments
- Gases
- Project Engineering Division (PED)
- Air Separation Units / N2 plants built in India
- 100+
- ASUs operated on Build-Own-Operate (BOO) basis
- 20+
- World's largest ASU installation
- 5 x 5,250 TPD at Jamnagar
- Compressed gas cylinders in circulation
- 150,000+
- Compressed gas volume distributed via cylinders
- ~20 lakh m3 per month
- Customers served in Bulk gases business
- 1,000+
Fundamentals
Valuation, return & balance-sheet ratios
Current values with the period they cover; the trend reads across the 6 fiscal years held (Dec 2020 to Mar 2026).
Financials
Quarterly & annual financial statements
Net profit, year on year: −32% (quarter to sept 2026 against sept 2025).
| Line item | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| 606 | 592 | 571 | 644 | 701 | 614 | 694 | 723 | |
| 414 | 382 | 374 | 362 | 444 | 441 | 494 | 492 | |
| 192 | 210 | 197 | 282 | 257 | 173 | 201 | 232 | |
| 32.0% | 35.0% | 34.0% | 44.0% | 37.0% | 28.0% | 29.0% | 32.0% | |
| 19 | 13 | 4 | 4 | 53 | 6 | 6 | 7 | |
| 2 | 7 | 3 | 3 | 6 | 3 | 6 | 16 | |
| 55 | 56 | 56 | 56 | 62 | 61 | 62 | 67 | |
| 155 | 161 | 142 | 226 | 243 | 115 | 138 | 155 | |
| 26.0% | 27.0% | 26.0% | 25.0% | 21.0% | 26.0% | 25.0% | 26.0% | |
| 114 | 118 | 105 | 169 | 192 | 85 | 103 | 115 | |
| 13.37 | 13.82 | 12.32 | 19.82 | 22.46 | 9.99 | 12.08 | 13.48 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,601 | 2,768 | 2,485 | 2,530 | |
| 1,968 | 2,067 | 1,721 | 1,621 | |
| 633 | 703 | 765 | 909 | |
| 90 | 77 | 67 | 67 | |
| 5 | 7 | 13 | 15 | |
| 207 | 202 | 214 | 235 | |
| 509 | 570 | 607 | 726 | |
| 469 | 426 | 448 | 551 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 | Sept 2026 |
|---|---|---|---|---|---|---|
| 85 | 85 | 85 | 85 | 85 | 85 | |
| 3,029 | 3,349 | 3,694 | 3,911 | 4,142 | 4,259 | |
| 22 | 21 | 42 | 67 | 79 | 1,026 | |
| 1,246 | 1,324 | 1,289 | 1,307 | 1,463 | 1,352 | |
| 4,382 | 4,780 | 5,110 | 5,371 | 5,769 | 6,722 | |
| 1,762 | 1,822 | 1,925 | 1,949 | 2,093 | 3,553 | |
| 225 | 483 | 975 | 1,266 | 1,343 | 1,091 | |
| 16 | 27 | 42 | 62 | 43 | 55 | |
| 2,378 | 2,448 | 2,168 | 2,095 | 2,291 | 2,023 | |
| 4,382 | 4,780 | 5,110 | 5,371 | 5,769 | 6,722 |
| Line item | Dec 2020 | Dec 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| 339 | 589 | 629 | 437 | 584 | 786 | |
| -54 | 98 | -306 | -539 | -1,305 | -705 | |
| -201 | -28 | -119 | -105 | -112 | -116 | |
| 84 | 659 | 203 | -208 | -833 | -35 | |
| 271 | 454 | 280 | -127 | -739 | 25 |
| Line item | Dec 2020 | Dec 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| 101 | 73 | 47 | 63 | 57 | 73 | |
| 72 | 37 | 22 | 32 | 69 | 79 | |
| 477 | 312 | 156 | 235 | 349 | 370 | |
| -303 | -202 | -87 | -139 | -224 | -217 | |
| 6 | -3 | -9 | -11 | -29 | -40 | |
| 10.0% | 17.0% | 21.0% | 17.0% | 17.0% | 18.0% | |
| 16.0% | 22.0% | — | 24.0% | 23.0% | 19.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Gases, related products and services contributes 70.8% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
- Gases, related products and services 70.8%
₹544.42 crore
- Project engineering 29.2%
₹224.56 crore
- Share of profit/(loss) fom joint venture 0.0%
₹0.00 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Gases, related products and services | 544.42 | 70.8% |
| Project engineering | 224.56 | 29.2% |
| Share of profit/(loss) fom joint venture | 0.00 | 0.0% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹768.98 crore
- Intersegment adjustment
- ₹74.62 crore
- Net segment revenue
- ₹694.36 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
Each segment’s share of reported revenue, quarter by quarter.
| Segment | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Gases, related products and services | — | — | 66% | 66% | — | — | — | 71% | +8.9% |
| Project engineering | 29% | 34% | 34% | 34% | 29% | 34% | 30% | 29% | -11.6% |
| Share of profit/(loss) fom joint venture | — | — | — | — | — | — | — | 0% | — |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
Reverse DCF: growth rate implied by today's share price
Growth trapTo justify its price of ₹6794, this stock must grow earnings at 50% every year for 7 years. Our analysis caps realistic growth at ~6%. At that growth it is worth ₹763 — downside of 89%.
- Growth the price implies
- 49.8% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 5.5% a year
- net profit, FY23–FY26 · EPS 5.5%
- The gap
- 0.4 pp
- -89% downside if it only repeats history
Multiples & returns vs own history
Ownership
Who owns it — shareholding pattern
Promoters hold 75.00% as of Sept 2026; institutions added 0.04 pts since Jun 2026.
- Promoters 75.00%
- Foreign institutions 2.12%
- Domestic institutions 6.74%
- Public 16.14%
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Mutual fund +1.42 pp 2.82% held
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 Sep 2026 filing
Every holder of Linde India above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 75.00% | unchanged | |
| Mutual fund | 2.82% | +1.42 pp |
| 1.96% | unchanged | |
| Mutual fund | 1.43% | −1.40 pp |
| — | off the list |
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.
Mutual funds in LINDEINDIA
Filings to Sep 2026
0 new, 4 added, 5 trimmed, 0 sold out — net −0.00 L shares (−0.0%).
- Held by funds
- ₹1.5k Cr
- 13 schemes
- Biggest holder
- Nippon India Multi Cap Fund
- ₹964 Cr · 1.8% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Multi Cap Fund Nippon India Mutual Fund | ₹964 Cr | held | May '13 |
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹253 Cr | held | Aug '21 |
| Nippon India ELSS Tax Saver Fund Nippon India Mutual Fund | ₹147 Cr | held | Oct '13 |
| Nippon India Large Cap Fund Nippon India Mutual Fund | ₹137 Cr | held | Aug '21 |
| Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund | ₹13 Cr | −0.00 L | Sep '21 |
| Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund | ₹9 Cr | −0.00 L | Sep '21 |
| SBI Nifty Midcap 150 Index Fund SBI Mutual Fund | ₹4 Cr | +0.00 L | Oct '22 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Sep '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Sep 2026
4 added, 5 trimmed — net −153 shares (−0.0%)
- Funds are sitting on
- +560%
- vs est. average cost
- Held by funds
- ₹1.5k Cr
- 13 schemes · ≈ 2.8% of the company
- Biggest holder
- Nippon India Multi Cap Fund
- ₹964 Cr · 1.8% of that fund
Shares held by these funds −13%
Oct '23 24.17 L shares Sep '26
Your own record
Start an Inve Case for Linde India
Free account: one company. Everything above stays public.
Write why you follow Linde India and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading
Other Chemicals companies
Quick Answers
Frequently asked questions on Linde India
Compiled directly from LINDEINDIA's filed financial statements, earnings call transcripts, and ownership disclosures.
How did Linde India (LINDEINDIA) perform in its latest reported quarter (Sept 2026)?
For the quarter ended Sept 2026, Linde India reported revenue of ₹723 Cr, net profit of ₹115 Cr, an operating margin of 32.0%. Diluted earnings per share stood at ₹13.48.
How is Linde India (LINDEINDIA) valued today, and what growth does the stock price imply?
Linde India (LINDEINDIA) trades at ₹6,794.5, with a market capitalization of ₹57.9k Cr. Reverse-DCF analysis shows the current stock price implies 49.8% annual earnings growth over the next 7 years compared with its historical net-profit CAGR of 5.5%.
Who owns Linde India (LINDEINDIA) — promoters, FIIs, DIIs, and mutual funds?
As of Sept 2026, Promoters hold 75.0%, FIIs hold 2.1%, DIIs hold 6.7%, Public shareholders hold 16.1%.
Learn to analyse Linde India
Guides on how to read this kind of business and the numbers that matter.