Linde India share price
NSE: LINDEINDIABSE: 523457Chemicals & PetrochemicalsMid Cap
Linde India Limited · Formerly BOC India · Face value ₹10 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Jan 1992 on BSE, Jun 1999 on NSE
Last close ₹5,638.50up ₹6.00 (0.11%)BSE ₹5,641.50
Share price at the NSE close on 27 Oct 2026. Previous close ₹5,632.50.
27 Oct: open ₹5,694.00, high ₹5,694.00, low ₹5,617.00
52-week range of traded prices to 27 Oct 2026
₹5,614.50Low, 26 Oct 2026₹8,049.00High, 7 May 2026
- Next results date: the board meets on 3 Nov 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹48,088 Cr178th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 88.01
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 11.27
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.21%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 13.5%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 15.7%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.00
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 18,09462.8% delivered
About Linde India
Linde India Limited makes industrial and medical gases and designs and builds air separation plants, which split air into oxygen, nitrogen and argon.1 It serves customers in metals, manufacturing, healthcare, chemicals, refining, electronics, food processing and infrastructure across India.12
It runs air separation units at sites including Jamshedpur, Kalinganagar, Rourkela, Dahej, Taloja and Ludhiana, and packaged gas plants, which fill gas cylinders, at places including Chakan near Pune, Sanand, Trichy and Hyderabad.3 It makes plant equipment at its works in Kolkata and Jamshedpur.3 It holds 50% each of 2 joint ventures, Bellary Oxygen Company and Linde South Asia Services.45 It also owns 26% of Avaada MHYavat and 34.96% of FPEL Surya, renewable power companies it invested in to buy power for its own use at a lower tariff.67
It was incorporated in 1935.8 The BOC Group Ltd of the UK, part of the Linde plc group, held 75.00% of its shares on 31 March 2026.9 Linde plc reported 2025 sales of $34 billion.10
Linde India key points
Results
- Standalone revenue from operations was ₹25,306 million in the year to Mar 2026, up 1.8% from ₹24,854 million, and profit after tax was ₹5,509 million, up 23% from ₹4,478 million.11
- Standalone EBITDA (earnings before interest, tax, depreciation and amortisation) rose 17.2% to ₹9,764 million from ₹8,329 million, which the company attributes mainly to higher merchant volumes of liquid nitrogen and liquid argon.12
- Merchant deliveries (gas sold to customers in bulk liquid form) rose 12% to 2,360 tonnes per day in the year to Mar 2026 from 2,107, and merchant bulk recorded its highest liquid loading volumes.1314
- The company had no borrowings on 31 March 2026.15
Business segments
- Gases and related products. Supplies oxygen, nitrogen, argon and specialty gases by onsite pipeline, bulk liquid and packaged gases. Revenue was ₹21,282 million in the year to Mar 2026, up 4.3% from ₹20,407 million.1617
- Project Engineering. Builds air separation and nitrogen plants for the company and outside customers. Revenue fell 9.5% to ₹4,025 million from ₹4,446 million in the year to Mar 2026, which the company attributes to project timing.1817
- In Gases, liquid nitrogen grew faster than liquid oxygen for the second year running, which the company attributes to demand from electronics and food and beverage.19
Plants and capacity
Order book
- The order book from outside customers (orders received but not yet delivered) was about ₹20,000 million as of the company's presentation of 13 Aug 2026.21
- The Project Engineering division's total order backlog was ₹24,653 million at the end of March 2026; order intake up to March 2026 was ₹13,321 million from outside customers and ₹5,768 million from in-house and group projects.22
Customers and partners
- As of its annual report for the year to Mar 2026, Project Engineering was executing contracts for Tata Dholera, which the company calls India's first commercial semiconductor fabrication plant, and Tata OSAT, a chip packaging and testing plant in Assam.23
- Project Engineering was building an ASU for Reliance at Nagothane, a nitrogen plant for Adani's solar cell plant at Dahej, and nitrogen plants for IOCL, BPCL and Petronet LNG.24
Expansion and capital spending
- Linde India's presentation of 13 Aug 2026 lists as under construction or commissioning: 2x1,800 TPD ASUs for Tata Steel at Kalinganagar, 1,000 TPD for SAIL at Rourkela and 900 TPD for Electrosteel at Bokaro.25
- The company stated in its annual report for the year to Mar 2026 that it is building a third ASU at Dahej to supply Asian Paints (Polymers) by pipeline, and expects to commission it in the year to Mar 2027.262728
- The company stated in its annual report for the year to Mar 2026 that it has approved an ammonia purification project in Gujarat, expected to be commissioned in the year to Mar 2027.27
Recent events
- On 13 Jul 2026 the company invested ₹69,90,99,984.30 in Zenataris Renewable Energy, the final tranche of a planned ₹105 crore investment to buy renewable power for its own use; after the allotment its stake was 26.77%.2930
- On 27 May 2026 the company began commercial production at its new ASU at Jindal Stainless's Kalinganagar works, built to supply 1,450 tonnes a day of oxygen, 1,800 of nitrogen and 64 of argon.31
- On 22 May 2026 the company's stake in Zenataris fell from 27% to 19.18% after Zenataris issued shares to other shareholders.32
- Milan Sadhukhan became Managing Director on 1 Jan 2026, after Abhijit Banerjee stepped down on 31 Dec 2025.33
Litigation and regulatory matters
- SEBI ruled on 24 Jul 2024 that the company's deals with a related party (a business with close ties to the company) need shareholder approval based on their combined value in a year; the Securities Appellate Tribunal upheld this on 5 Dec 2025.34
- The Supreme Court admitted the company's appeal on 16 Jan 2026 without a stay; it was pending as of the company's report of 30 May 2026. The auditors gave a modified opinion on the year to Mar 2026 accounts over this matter.3536
- A SEBI-ordered valuation of business shared with Praxair India under a joint venture agreement reached the company on 24 Mar 2026; on 1 Apr 2026 it asked the Supreme Court to bar SEBI from acting on it.37
- At a shareholder meeting on 5 Mar 2026, shareholders defeated a resolution to approve ₹4,177 million of transactions with Praxair India for the year to Mar 2026; the promoter, The BOC Group, did not vote.38
Last updated
All 38 sources, each with its page
- 1. Annual report, 20 Jul 2026, page 25
- 2. Investor presentation, 13 Aug 2026, page 6
- 3. Annual report, 20 Jul 2026, page 30
- 4. Annual report, 20 Jul 2026, page 52
- 5. Annual report, 20 Jul 2026, page 26
- 6. Annual report, 20 Jul 2026, page 52
- 7. Annual report, 20 Jul 2026, page 36
- 8. Annual report, 20 Jul 2026, page 64
- 9. Annual report, 20 Jul 2026, page 128
- 10. Investor presentation, 13 Aug 2026, page 4
- 11. Annual report, 20 Jul 2026, page 34
- 12. Annual report, 20 Jul 2026, page 34
- 13. Investor presentation, 13 Aug 2026, page 11
- 14. Annual report, 20 Jul 2026, page 37
- 15. Annual report, 20 Jul 2026, page 40
- 16. Annual report, 20 Jul 2026, page 25
- 17. Annual report, 20 Jul 2026, page 34
- 18. Annual report, 20 Jul 2026, page 39
- 19. Annual report, 20 Jul 2026, page 37
- 20. Investor presentation, 13 Aug 2026, page 6
- 21. Investor presentation, 13 Aug 2026, page 16
- 22. Annual report, 20 Jul 2026, page 39
- 23. Annual report, 20 Jul 2026, page 39
- 24. Annual report, 20 Jul 2026, page 39
- 25. Investor presentation, 13 Aug 2026, page 15
- 26. Annual report, 20 Jul 2026, page 38
- 27. Annual report, 20 Jul 2026, page 37
- 28. Investor presentation, 13 Aug 2026, page 15
- 29. Exchange filing, 14 Jul 2026, page 1
- 30. Exchange filing, 14 Jul 2026, page 2
- 31. Exchange filing, 27 May 2026, page 1
- 32. Exchange filing, 22 May 2026, page 1
- 33. Annual report, 20 Jul 2026, page 46
- 34. Annual report, 20 Jul 2026, page 48
- 35. Annual report, 20 Jul 2026, page 62
- 36. Annual report, 20 Jul 2026, page 48
- 37. Annual report, 20 Jul 2026, page 62
- 38. Annual report, 20 Jul 2026, page 62
Results
Standalone, as consolidated accounts are on record for only 7 of the last ten years; ₹ crore.Linde India quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +10.4%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +21.9%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹694 Crup 13.03%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹103 Crup 20.94%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 14.8%
Revenue by quarter
Peak revenue ₹701 Cr, quarter to Dec 2025; lowest ₹571 Cr, quarter to Jun 2025
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 634 | 606 | 592 | 571 | 644 | 701 | 614 | 694 |
| Net profit | 104 | 114 | 118 | 105 | 169 | 192 | 85 | 103 |
| Net margin | 16.5% | 18.8% | 19.9% | 18.4% | 26.2% | 27.3% | 13.9% | 14.8% |
Standalone. The last eight quarters. The latest is shaded.
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹2,531 Crup 1.82%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹551 Crup 23.01%
- Net margin
- 21.8%
Revenue by year
Peak revenue ₹2,769 Cr, year to Mar 2024; lowest ₹1,471 Cr, year to Dec 2020
Net profit by year, a loss in red
The company moved its year end from December to March: its last year to December on record ended in Dec 2022, its first year to March in Mar 2024.
| ₹ crore | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,837 | 2,115 | 2,192 | 1,762 | 1,471 | 2,112 | 2,505 | 2,769 | 2,485 | 2,531 |
| Net profit | 9 | 19 | 33 | 727 | 156 | 514 | 437 | 426 | 448 | 551 |
| Net margin | 0.5% | 0.9% | 1.5% | 41.3% | 10.6% | 24.3% | 17.4% | 15.4% | 18.0% | 21.8% |
Standalone. Years to December, then March. The latest is shaded.
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- Gases, related products & servicesGases, related products & services, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹2,128 Crup 4.29%68.5%
- Project engineeringProject engineering, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹981 Crdown 11.27%31.5%
The pill is the change in revenue on the year before; the share is of all the businesses together.
Valuation
Today, against the company's own history.Linde India PE ratio and valuation
Price to earnings
At or below today's level on 21% of 1,996 trading days over the last 10 years.
LowestHighest
Its median119.83Industry median34.43
Price to book
At or below today's level on 58% of 2,018 trading days since Jul 2018.
LowestHighest
Its median10.11Industry median2.67
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 61% of 2,409 trading days over the last 10 years.
LowestHighest
Its median0.20%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +9.5% | +23.0% | −11.1% | 0.2% |
| 3 years | +19.5% | – | – | 0.2% |
| 5 years | +30.9% | – | – | 0.2% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth and the change in P/E are left empty where earnings per share at either end of the window was a loss or is not on record.
Mutual fund holdings
125 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 74 of the 88 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 125 funds holding Linde India
- AddedAdded. Funds that held more shares than at the end of the month before.
- 46
- CutCut. Funds that held fewer shares than at the end of the month before.
- 42
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 36
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 3
| Fund | |||
|---|---|---|---|
 Nippon India Multi Cap FundNippon India Mutual Fund | 15,24,539 | 1.79% | ₹964.0 Cr |
 Kotak Large & Mid Cap FundKotak Mahindra Mutual Fund | 9,50,000 | 1.96% | ₹600.7 Cr |
 quant Mid Cap Fundquant Mutual Fund | 4,29,640 | 3.55% | ₹271.7 Cr |
| Nippon India Small Cap FundNippon India Mutual Fund | 4,00,000 | 0.31% | ₹252.9 Cr |
| Nippon India ELSS Tax Saver FundNippon India Mutual Fund | 2,32,421 | 1.04% | ₹147.0 Cr |
| Nippon India Large Cap FundNippon India Mutual Fund | 2,16,434 | 0.27% | ₹136.9 Cr |
| Kotak ELSS Tax Saver FundKotak Mahindra Mutual Fund | 2,00,000 | 2.08% | ₹126.5 Cr |
 Canara Robeco Large and Mid Cap FundCanara Robeco Mutual Fund | 1,52,536 | 0.39% | ₹96.4 Cr |
 Tata Mid Cap FundTata Mutual Fund | 1,13,422 | 1.22% | ₹71.7 Cr |
| Canara Robeco Mid Cap FundCanara Robeco Mutual Fund | 83,816 | 1.06% | ₹53.0 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Linde India competitors and peers
Industrial Gases, 8 listed companies, priced on 27 Oct 2026. The table lists the 7 companies closest to Linde India in market cap.Chemical companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 Ellenbarrie Industrial GasesELLEN | 4,501 | 37.30 | 4.61 | – | – | 12.3% | 8.7% | 0.00% |
 Steamhouse IndiaSTEAMHOUSE | 3,887 | – | – | – | – | – | – | 0.00% |
 Stallion India FluorochemicalsSTALLION | 2,139 | 41.09 | 3.14 | – | – | 10.6% | 9.2% | 0.00% |
 Hilltone Software and GasesHILLTONE | 53 | – | 2.29 | – | – | – | −5.7% | 0.00% |
 National OxygenNOL | 29 | 17.17 | – | −51.0% | – | – | −25.6% | 0.00% |
 Bhagawati GasBHAGGAS | 15 | 15.35 | 0.98 | −62.6% | +264.4% | 6.6% | −8.5% | 0.00% |
 Gagan GasesGAGAN | 9 | 34.43 | 2.67 | −12.3% | +112.9% | 8.1% | 7.3% | 0.00% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Linde India dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹13.50 a share, year to Dec 2021.
| Ex-date | Type | Per share |
|---|---|---|
| 6 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹4.00 |
| 6 Aug 2026 | Special | ₹8.00 |
| 7 Aug 2025 | Final | ₹4.50 |
| 7 Aug 2025 | Special | ₹7.50 |
| 5 Aug 2024 | Final | ₹4.00 |
| 5 Aug 2024 | Special | ₹8.00 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Linde India announcements
Oct 2026
26 Oct · Board meeting
Sep 2026
30 Sep
Aug 2026
Linde India share price by year
Each calendar year to 2025.Linde India share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 5,955.50 | −0.7% | 7,588.50 | 5,543.15 |
| 2024 | 5,996.05 | +6.3% | 9,691.25 | 5,383.65 |
| 2023 | 5,640.20 | +64.2% | 6,654.10 | 3,228.35 |
| 2022 | 3,434.75 | +38.1% | 3,970.90 | 2,517.15 |
| 2021 | 2,487.35 | +155.8% | 2,832.00 | 899.40 |
| 2020 | 972.50 | +47.0% | 977.50 | 413.50 |
| 2019 | 661.45 | −2.7% | 791.15 | 418.10 |
| 2018 | 679.60 | +26.8% | 691.75 | 398.70 |
| 2017 | 536.15 | +51.3% | 536.15 | 348.75 |
| 2016 | 354.25 | +11.9% | 402.05 | 247.05 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 26 Oct 2026 | 5,700.00 | 5,800.00 | 5,614.50 | 5,632.50 | 5,657.17 | 25,086 | 54.7% |
| 23 Oct 2026 | 5,900.00 | 5,900.00 | 5,662.00 | 5,723.50 | 5,734.96 | 28,470 | 53.4% |
| 22 Oct 2026 | 5,877.00 | 6,000.00 | 5,810.00 | 5,900.50 | 5,911.07 | 15,079 | 39.3% |
| 21 Oct 2026 | 5,973.00 | 5,998.50 | 5,875.00 | 5,882.50 | 5,913.37 | 14,341 | 64.7% |
| 19 Oct 2026 | 6,178.50 | 6,196.00 | 5,991.50 | 6,003.50 | 6,042.83 | 12,236 | 51.8% |
| 16 Oct 2026 | 6,000.00 | 6,243.00 | 6,000.00 | 6,184.50 | 6,134.56 | 28,095 | 55.3% |
| 15 Oct 2026 | 6,008.00 | 6,106.00 | 5,925.50 | 5,998.00 | 5,984.93 | 10,851 | 52.4% |
| 14 Oct 2026 | 6,004.50 | 6,090.00 | 5,999.00 | 6,007.50 | 6,042.30 | 6,683 | 45.2% |
| 13 Oct 2026 | 6,011.00 | 6,025.00 | 5,955.00 | 6,009.00 | 5,993.99 | 12,445 | 56.0% |
Prices in ₹ per share as traded, not adjusted.
Company details
- NSE symbol
- LINDEINDIA
- BSE code
- 523457
- ISIN
- INE473A01011
- Industry
- Chemicals & Petrochemicals
- Former symbols
- BOC, IOL
- Website
- www.boc-india.com
- CIN
- L40200WB1935PLC008184
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1935
- Registered office
- Oxygen House, P43, Taratala Road, Kolkata 700088, West Bengal
- Share registrar
- KFin Technologies Ltd
- Keeps the register of shareholders and handles transfers and dividend payments
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