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LINDEINDIA · NSE · Industrial Gases

Linde India Ltd

What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Mid Cap · AMFI list Jan-Jun 2026 · Vendor sector: Basic Materials
dear low confidence No valuation within 120 days; P/E 93.6 vs peers 38.0 (16th of 17); P/B 13.7 vs peers 4.8 (17th of 18).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model

What is Linde India's share price today?

Linde India last traded at ₹5,987.50 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 0.1% on the day, down 2.9% over a year. Its 52-week range is ₹5,673 to ₹8,049. The live price is in the app.

₹5,987.50 −0.1% today
−2.9% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range13% of the way up
Low ₹5,673High ₹8,049

What is Linde India's market cap?

Linde India's market capitalisation is about ₹51,134 crore: what it would cost to buy every share at today's price. That makes it the 92nd largest mid cap company we cover.

₹51,134 Cr Mid Cap92nd largest mid cap company
Mid Cap means the companies ranked 101 to 250 by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: LINDEINDIA
ISIN
INE473A01011
Cap bucket
Mid Cap, 92nd largest by market cap
Industry (NSE)
Commodities › Chemicals › Chemicals & Petrochemicals › Industrial Gases
Listed since
1999
Futures and options
Not traded

Is Linde India overvalued?

Dear, with low confidence: no valuation within 120 days; P/E 93.6 vs peers 38.0 (16th of 17); P/B 13.7 vs peers 4.8 (17th of 18).

Valuation

Latest price and trailing 12 months
P/E 93.60
vs peers 38.0 · 16th of 17
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 13.74
vs peers 4.8 · 17th of 18
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹51,134 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield 0.2%
vs peers 0.4% · 12th of 16
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) 8.15
vs peers 1.4 · 12th of 16
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth Not available
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
3 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is Linde India a quality business?

Quality score 65.1, 5th of 18 in its peer set; WATCH on 30 of 30 flags judged.

Quality and risk

Data as of 12 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 65.1
vs peers 53.5 · 5th of 18
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level WATCH
30 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Profitability

ROE 13.8%
vs peers 10.9% · 9th of 18
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE 17.8%
vs peers 14.3% · 8th of 18
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin 20.0%
vs peers 11.6% · 2nd of 18
Profit after everything, as a share of revenue. Learn more →
EPS ₹64.37
Trailing 12 months
Profit for each share over the last 12 months.

Scorecard

🔒 Pro
Health scores and red flags with their values and history: in the app.
See the scorecard →
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Has Linde India made money for shareholders?

Mixed: −2.9% over one year and +19.4% a year over five years.

Shareholder returns

1-year return −2.9%
Price only
What the share price did over the last 12 months. Learn more →
5-year return +19.4% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
−0.7%
1M
−1.4%
3M
−15.7%
6M
−17.2%
1Y
−2.9%
3Y
+1.8%
5Y
+19.4%

Does Linde India pay a dividend?

Yes. Linde India's dividend yield is 0.18% at the latest price; the last payout was ₹8.00 a share, ex-dividend 6 Aug 2026.

Dividends

Per share, by ex-dividend date
Dividend yield0.18%
The past 12 months' dividends as a share of today's price.
6 Aug 2026 · Special₹8.00
6 Aug 2026 · Final₹4.00
7 Aug 2025 · Special₹7.50
7 Aug 2025 · Final₹4.50
5 Aug 2024 · Special₹8.00
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is Linde India growing?

Revenue 3 years -7.1% a year; profit 3 years 0.7% a year; eps 3 years 0.7% a year.

Growth

Statements through FY2026 (Mar-26)
Revenue 3 years -7.1% a year
vs peers 5.3% · 16th of 16
Compound annual growth of revenue over three years. Learn more →
Profit 3 years 0.7% a year
vs peers 3.8% · 8th of 15
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years Not available
Compound annual growth of revenue over five years. Learn more →
Profit 5 years Not available
Compound annual growth of net profit over five years. Learn more →
EPS 3 years 0.7% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years Not available
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history -18.1%
vs peers 6.4% · 4th of 15
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →

How did Linde India do last quarter?

Linde India reported revenue of ₹694 Cr, up 1.8% on a year earlier and a net profit of ₹105 Cr, up 20.7% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Revenue, latest quarter₹694 Cr
+1.8% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹105 Cr
+20.7% on a year earlier
What was left for shareholders after every cost and tax.

How does Linde India compare with its peers?

Compared with 17 Chemicals & Petrochemicals (the industry, as the basic industry was too small); 16th of 17 on P/E; 5th of 18 on quality score.

Compared with 17 Chemicals & Petrochemicals (the industry, as the basic industry was too small)

17 companies

Linde India against its peers

Largest 10 of 17 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
Linde India Ltd₹51,134 Cr93.613.713.8%17.8%−2.9%
Solar Industries India Ltd₹1.8 L Cr90.925.833.5%41.4%+42.9%
Pidilite Industries Ltd₹1.5 L Cr57.012.323.4%30.6%−2.1%
SRF Ltd₹74,684 Cr34.55.714.2%15.1%−17.3%
Gujarat Fluorochemicals Ltd₹49,178 Cr80.44.710.0%12.0%+21.6%
Navin Fluorine International Ltd₹42,861 Cr54.28.615.8%20.9%+73.7%
Himadri Speciality Chemical Ltd₹33,299 Cr41.44.818.1%22.5%+41.0%
Aether Industries Ltd₹23,202 Cr98.46.07.5%9.6%+133.8%
Deepak Nitrite Ltd₹22,122 Cr28.25.56.0%7.1%−8.5%
Deepak Fertilisers & Petrochemicals Corp Ltd₹17,580 Cr17.93.17.5%8.3%−6.2%
Atul Ltd₹17,319 Cr21.83.110.3%13.1%−1.9%
Peer median—38.04.810.9%14.3%+3.3%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

🔒 Pro
Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns Linde India?

Linde India is held by promoters 75.0%, foreign institutions 2.0%, domestic institutions 6.8%.

Shareholding pattern

Latest filing, percent of shares
Promoters75.0%
The founders and controlling group.
Foreign institutions2.0%
Overseas funds investing through the FPI route.
Domestic institutions6.8%
Indian insurers, banks, pension and mutual funds together.
Mutual funds6.3%
Indian mutual fund schemes; part of domestic institutions.
Retail and others6.2%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about Linde India?

2 analysts cover Linde India, and the consensus is sell. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

2 analysts
ConsensusSell
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does Linde India do and what is it sensitive to?

Linde India Limited sells industrial, specialty and healthcare gases, mainly in bulk and cylinders, to industries and hospitals, and runs a Project Engineering division that provides engineering solutions. Sensitive to: foreign exchange rates.

Business-model card

FY2025 · 40 verified
3Revenue
4Channels
4Regulators
3Reg. dependencies
6Sensitivities
5Costs
3Geographies

Linde India Limited sells industrial, specialty and healthcare gases, mainly in bulk and cylinders, to industries and hospitals, and runs a Project Engineering division that provides engineering solutions. It earns through gas product sales, lease rentals and service charges in its Gases segment, and through construction contracts in Project Engineering.

Revenue by segment

Year ended 31 Mar 2025 (consolidated, Note 42(b) Information about business segment; revenue = total external revenue)
Gases, related products & services82.1%
Project Engineering17.9%

Revenue engine

3 verified
Gases, related products & services
Largest line in the excerpts: product sales of Rs. 17,750.53 million, lease rentals of Rs. 1,232.49 million and service/O&M income of Rs. 1,287.31 million in FY2025, per the revenue-by-product table. Interpretation: the share of total revenue is not stated in the excerpts.
Project Engineering construction contracts
Revenue of Rs. 4,446.26 million in FY2025 (Rs. 7,680.91 million in FY2024). The company generally has fixed-price contracts, and revenue is recognised over time by percentage of completion, so margins depend on estimated total contract cost.
Sale of Services including Operation & Maintenance charges
Service income within the Gases line of Rs. 1,287.31 million in FY2025, recognised as services are rendered.

Customers & channels

4 verified
Top two customers
Sales to the top two customers were about Rs. 6,408.84 million in FY2025, and no other single customer reached 10% of revenue. Interpretation: concentration sits in Project Engineering or large accounts, but the excerpt does not say which segment they belong to.
Dealers and distributors (4.2%)
Interpretation: the first of the two figures shown is taken as FY2025. Sales through dealers/distributors are a small share of total sales, so most sales go direct.
Industrial and specialty gas customers
Gases are sold to steel, automotive, pharma, metal fabrication, chemicals, food and beverage, solar panels and research. Demand follows these industries' output.
1 more statement
Packaged gases in cylinders
Smaller volumes are delivered in cylinders to healthcare, industrial, FMCG and F&B customers, in contrast to bulk deliveries for large-volume users.

Regulators

4 verified
The Explosive Act, 1884
Listed by management as a law specifically applicable to the company, together with its Explosive Rules, 2008.
The Gas Cylinder Rules, 2016
Rules under the Explosive Act that the management lists as applicable to the company's cylinder business.
The Drug (Prices Control) Order, 2013 under the Essential Commodities Act, 1955
Listed by management as specifically applicable to the company. The excerpt does not state how the order affects the company's products or prices.
1 more statement
The Petroleum Act, 1934
Listed with the Petroleum Rules, 2002 as specifically applicable to the company. The excerpt does not state the mechanism.

Regulatory dependencies

3 verified
Related-party transaction approval cap with Linde AG (now Linde GmbH)
Purchases, sales, borrowings and services with the intermediary holding company were approved up to a set annual aggregate. Interpretation: a lower cap or a change in the approval rule would limit how much business can run through the parent.
Decarbonisation regulatory frameworks
Interpretation: the excerpt says regulatory frameworks are accelerating decarbonisation technology adoption in sectors such as steel, power and oil & gas. Tighter rules could raise demand for low-carbon gas and process solutions, and could also require capex.
Drug (Prices Control) Order, 2013
Interpretation: price controls under this order would affect revenue if they apply to the company's gases, but the excerpt does not say that they do.

Sensitivities

6 verified
Foreign exchange rates
A 10% move in foreign currencies against the functional currency is stated to change profit before tax by about Rs.120.83 million (Rs.53.16 million in FY2024). Interpretation: the excerpt does not state the sign of the move.
Interest rates
The company has no borrowings, so changes in interest rates do not affect its interest cost.
Heavy dependence on the steel sector and plant ownership trend
Revenue is exposed to steel customers. The BOO model is losing appeal as captive ASU requirements increasingly prefer plant ownership, which would reduce demand for on-site supply contracts.
3 more statements
Competition and predatory pricing in onsite and merchant markets
Competition is squeezing margins in small onsite and equipment sales, and new merchant capacity from non-gas players has led to predatory pricing that further pressures margins.
Imported helium and specialty products
Supply-chain risks and costs for imported helium and imported specialty products raise input costs and can disrupt supply.
Global shipping costs
Higher global shipping costs are a near-term concern for the company's imported inputs.

Cost inputs

5 verified
Freight and handling charges
Rs. 1,371.21 million in FY2025 (Rs. 1,268.07 million in FY2024), the largest cost line in the other-expenses table. Interpretation: this cost moves with delivery volumes and fleet cost.
Support Services cost
Rs. 1,582.95 million in FY2025, shown as a separate line in other expenses. The excerpt does not state the supplier.
Contract job expenses
Rs. 993.75 million in FY2025 (Rs. 1,224.67 million in FY2024), in other expenses. Interpretation: this likely tracks Project Engineering activity, which fell in FY2025.
2 more statements
Purchases from related parties
Share of total purchases made with related parties, stated in the RPT disclosure.
Purchases from trading houses
Top ten trading houses account for the stated share of purchases from trading houses. Interpretation: the first of the two figures is taken as FY2025.

Geographies

3 verified
India
The company operates predominantly within India, and sales to customers outside India were less than 10% of revenue in FY2025 and FY2024.
Export contribution (2.0%)
Exports were stated as a percentage of total turnover. Interpretation: the rest of revenue is domestic.
National footprint
The company reports operations across 28 Indian states, as stated in the locations table.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.

What changed recently?

Q1 FY2027 results filed (11 Aug 2026).

Change log

8 entries · newest first
  1. Results filedQ1 FY2027 results filed.
  2. Corporate actionDividend - Rs 4 Per Share/Special Dividend - 8 Per Share.
  3. Results filedQ4 FY2026 results filed.
  4. Results filedQ3 FY2026 results filed.
  5. Results filedQ2 FY2026 results filed.
  6. Corporate actionDividend - Rs 4.50 Per Share & Special Dividend - Rs 7.50 Per Share.
  7. Results filedQ1 FY2026 results filed.
  8. Results filedQ4 FY2025 results filed.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
  • FlagsWATCH on 30 of 30 flags judged; 1 red.
  • Data gapsPEG on our 3-year EPS growth, Business quality, Revenue 5 years, Profit 5 years, EPS 5 years: not available yet.

What this page rests on

✓4 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓184 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2025 · 40 verified

Questions people ask

What is Linde India's share price today?

Linde India last traded at ₹5,987.50 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 0.1% on the day, down 2.9% over a year. Its 52-week range is ₹5,673 to ₹8,049. The live price is in the app.

What is Linde India's market cap?

Linde India's market capitalisation is about ₹51,134 crore: what it would cost to buy every share at today's price. That makes it the 92nd largest mid cap company we cover.

Is Linde India Ltd a large cap, mid cap or small cap?

Linde India Ltd (LINDEINDIA) is a mid cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is Linde India Ltd's P/E ratio?

93.60, vs peers 38.0 · 16th of 17. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is Linde India Ltd overvalued?

Dear, with low confidence: no valuation within 120 days; P/E 93.6 vs peers 38.0 (16th of 17); P/B 13.7 vs peers 4.8 (17th of 18).

How does Linde India Ltd make money?

Linde India Limited sells industrial, specialty and healthcare gases, mainly in bulk and cylinders, to industries and hospitals, and runs a Project Engineering division that provides engineering solutions. It earns through gas product sales, lease rentals and service charges in its Gases segment, and through construction contracts in Project Engineering.

Who are Linde India Ltd's peers?

Compared with 17 Chemicals & Petrochemicals (the industry, as the basic industry was too small): Solar Industries India Ltd, Pidilite Industries Ltd, SRF Ltd, Gujarat Fluorochemicals Ltd, Navin Fluorine International Ltd and 12 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did Linde India do last quarter?

Linde India reported revenue of ₹694 Cr, up 1.8% on a year earlier and a net profit of ₹105 Cr, up 20.7% in the Jun 2026 quarter.

Who owns Linde India?

Linde India is held by promoters 75.0%, foreign institutions 2.0%, domestic institutions 6.8%.

Does Linde India pay a dividend?

Yes. Linde India's dividend yield is 0.18% at the latest price; the last payout was ₹8.00 a share, ex-dividend 6 Aug 2026.

What do analysts say about Linde India?

2 analysts cover Linde India, and the consensus is sell. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Everything on Linde India, and 6,621 other companies, with 212 filters and the full peer tables

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