A deep dive into Linde India (LINDEINDIA) — examining the financials, valuation picture, and who owns the stock.
Linde India Revenue Trend
Revenue slipped 10.3% to ₹2,553 Cr in FY2025 — a step back from the ₹2,846 Cr Linde India recorded in FY2024.
A 5.0% CAGR over 11 years is middle-of-the-road. Linde India's top line moved from ₹1,491 Cr to ₹2,553 Cr in that period.
A ₹2,553 Cr revenue base makes Linde India a mid-sized name in the Indian chemicals - organic sector.
| Year | Revenue | YoY % |
|---|---|---|
| FY2025 | ₹2,553 Cr | -10.3% |
| FY2024 | ₹2,846 Cr | -9.2% |
| FY2023 | ₹3,136 Cr | +44.7% |
| FY2021 | ₹2,167 Cr | +47.1% |
| FY2020 | ₹1,473 Cr | — |
View Linde India's full 10-year revenue trend with CAGR analysis →
Linde India Profitability
Profitability strengthened with net income of ₹455 Cr in FY2025, 4.8% higher than FY2024.
Net margin expanded to 17.8% in FY2025, up from 15.3% a year prior.
On a per-share basis, diluted earnings were ₹53.33 in FY2025 versus ₹50.90 in FY2024.
Is Linde India Undervalued
Running the numbers through the P/E Ratio model gives a fair value of ₹5,902 for Linde India.
Linde India shares are currently trading at ₹7,110.50.
Craytheon also calculates intrinsic value using the EPS Growth model. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹5,902 | 17.0% downside to fair value |
| EPS Growth | Upgrade | Upgrade |
See all valuation models for Linde India with detailed assumptions →
Linde India Shareholding Pattern
Promoter holding is steady at 75.0% — no buying or selling over the past 4 quarters.
FII ownership stands at 2.0%, down from the 2.5% recorded a year ago.
The DII stake stands at 6.9% as of March 2026, versus 6.6% in the year-ago period.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 75.0% | 2.0% | 6.9% | 16.1% |
| Dec 2025 | 75.0% | 2.0% | 6.9% | 16.0% |
| Sep 2025 | 75.0% | 2.4% | 6.8% | 15.9% |
| Jun 2025 | 75.0% | 2.5% | 6.6% | 15.9% |
Track quarterly shareholding changes for Linde India →
Linde India Balance Sheet
Proportional view as of 3 Jun 2026. Hover blocks for details.
Assets
Liabilities & Equity
FY2025 total assets: ₹51.43B (up 7.0% YoY from ₹48.05B).
Top categories: Property, Plant & Equipment (55.0%), Other Assets (31.1%), Receivables (7.5%).
Of the ₹51.43B in liabilities and equity, 74.3% is shareholder equity, 0.8% is interest-bearing debt, and 24.9% is operating liabilities. Over the year, debt is up 104.8% and equity is up 10.1%.
Balance sheet composition — FY 2025
| Category | Value |
|---|---|
| Cash & ST Investments | 1.45B |
| Receivables | 3.85B |
| Inventories | 1.07B |
| Property, Plant & Equipment | 28.27B |
| Investments | 575.88M |
| Intangibles & Goodwill | 196.86M |
| Other Assets | 16.02B |
| Category | Value |
|---|---|
| Equity | 38.20B |
| Short-term Debt | 19.56M |
| Long-term Debt | 404.15M |
| Trade Payables | 5.42B |
| Other Liabilities | 7.39B |
Linde India Stock Analysis
To sum up Linde India's financial position: the data paints a clear picture for investors evaluating this chemicals - organic stock.
Revenue of ₹2,553 Cr in FY2025, down 10.3% year-over-year.
Long-term revenue has been compounding at 5.0% annually over 11 years.
The company is profitable, with a net margin of 17.8% and net income of ₹455 Cr.
The P/E Ratio model implies 17.0% downside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
Unlock Full Analysis
There's more to the story. Craytheon's full profile for Linde India includes three valuation models, decade-long financials, and insider activity.