The company offers onsite, bulk, and packaged gas solutions through 26 operating plants with pan-India presence in its core Gases, Related Products & Services segment (65% of FY25 revenue). It serves diverse industries including steel, automotive, pharma, chemicals, food and beverage, electronics, and healthcare establishments.
Cyborg Score Rationale
The company delivered strong recent performance with net profit rising 66.21% to Rs 193.33 crore and sales rising 15.71% to Rs 701.03 crore in Q3 FY26 over Q3 FY25. The company is almost debt-free. Historical sales growth has been modest at 7.12% over five years.
Top Insights
Net profit surged 66.21% YoY in Q3 FY26 to Rs 193.33 crore, reflecting improving operational leverage.
Company commenced commercial production at new 250-MTPD Air Separation Unit in Ludhiana, Punjab, strengthening northern India footprint.
Mutual fund holdings increased from 6.29% to 6.49% in Dec 2025, signaling growing institutional confidence.
Nearly debt-free balance sheet provides flexibility for growth capex investments and shareholder returns.
Named Competitors
Praxair — Global industrial gases and engineering solutions
Air Liquide — Multinational industrial gases supplier
BOC India Operations — Parent company industrial gas operations
Recent Developments
(February 2026) Linde India seeks shareholder approval for ₹417 cr related party transactions with Praxair India
(December 2025) Milan Sadhukhan appointed as Managing Director succeeding Abhijit Banerjee
(December 2025) Q3 FY26 results show net profit of Rs 193.33 crore (up 66%) and revenue of Rs 701.03 crore (up 16%)
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