# Linde India share price today (Linde India Ltd, NSE: LINDEINDIA)

> Linde India share price today: ₹5,848.50 at the NSE close on 3 November 2026, down 2.7% in a year. Linde India (NSE: LINDEINDIA) is worth ₹49,872 crore, trades at a P/E of 91.3 and has closed between ₹5,651.50 and ₹7,808.50 over the past 52 weeks. > Linde India Ltd's P/E is near the low end of its own history, higher than only 24% of past readings, and its quarterly results are still getting worse. LINDEINDIA · Industrial Gas · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/linde-india-ltd

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## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹5,848.50 (−2.7% in a year)
- P/E: 91.3× (lower than 76% of the last 9.6 years)
- Revenue (Jun 2026): ₹694 Cr (+21.5% on a year ago)
- Profit (Jun 2026): ₹105 Cr (−1.9% on a year ago)
- Operating margin: 29.0% (−5.0 points on a year ago)
- ROCE: 18%, Mar 2026
- ROIC: 9.8%, against a 12.0% cost of capital: −2.2 points

The main question: the P/E is near the low end of its own history, higher than only 24% of past readings, but results are getting worse. A low multiple can stay low until the quarters turn. ## What is the Linde India share price today? Linde India Ltd's share price was ₹5,848.50 at the close on 3 November 2026. It has been falling for 7 weeks. That is 10.8% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹5,652 and ₹7,809, and at that close it sat 9% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 22 weeks running. Over the last 11 years the share price moved +2,258% while the NIFTY 500 moved +257%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 19 June 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Linde India this quarter? Three changes stood out: indian funds and insurers (DIIs) cut their stake for 3 quarters in a row, revenue up on a year earlier for 4 quarters in a row and operating margin down 5 points on a year earlier. 1. Indian funds and insurers (DIIs) cut their stake for 3 quarters in a row From 7% to 6.7% of the company by the September 2026 quarter. 2. Revenue up on a year earlier for 4 quarters in a row In the June 2026 quarter revenue was ₹694 crore, +21.5% on a year earlier. 3. Operating margin down 5 points on a year earlier 29% in the June 2026 quarter, from 34%. ## What are Linde India's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Linde India reported revenue of ₹694 crore, up 21.5% from ₹571 crore a year earlier, and a profit of ₹105 crore, down 1.9% from ₹107 crore. ### Linde India results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹694 crore | ₹571 crore | +21.5% |
| Profit | ₹105 crore | ₹107 crore | −1.9% |
| Earnings per share | ₹12.26 | ₹12.57 | −2.5% |
| Operating margin | 29.0% | 34.0% | −5.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Linde India share price history? Linde India closed at ₹5,848.50 on 3 November 2026, down 2.7% from ₹6,013.50 a year earlier (31 October 2025) and up 131.0% over five years. Its highest weekly close since February 2016 was ₹9,481.45 on 18 May 2024. ### Linde India share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹5,723.50 | +2.2% |
| 1 month ago · 1 Oct 2026 | ₹6,247.50 | −6.4% |
| 6 months ago · 30 Apr 2026 | ₹7,320.00 | −20.1% |
| 1 year ago · 31 Oct 2025 | ₹6,013.50 | −2.7% |
| 3 years ago · 3 Nov 2023 | ₹6,106.50 | −4.2% |
| 5 years ago · 4 Nov 2021 | ₹2,531.85 | +131.0% |
| 10 years ago · 4 Nov 2016 | ₹375.00 | +1,459.6% |
| Earliest and lowest weekly close in our records · 26 Feb 2016 | ₹248.00 | +2,258.3% |
| Highest weekly close since February 2016 · 18 May 2024 | ₹9,481.45 | −38.3% |
| 52-week high (weekly close) · 8 May 2026 | ₹7,808.50 | −25.1% |
| 52-week low (weekly close) · 30 Oct 2026 | ₹5,651.50 | +3.5% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 26 February 2016 to 3 November 2026.)

## What is the latest news on Linde India? 3 Nov 2026: Linde India closed at ₹5,848.50, up 2.2% on the week and down 6.4% on the month. 6 Aug 2026: ex-date for a dividend + special dividend of ₹12 a share. ### Earlier

- Results for April to June 2026: Revenue up 21.5% and profit down 1.9% on a year earlier. ## What dividend does Linde India pay? Linde India paid ₹4 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.07% at the ₹5,848.50 close on 3 November 2026. The last was a dividend + special dividend of ₹12 a share, ex-date 6 August 2026. ### Linde India dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 6 Aug 2026 | ₹12 | Dividend + Special |
| 7 Aug 2025 | ₹12 | Dividend + Special |
| 5 Aug 2024 | ₹12 | Dividend + Special |
| 10 Aug 2023 | ₹12 | Dividend + Special |
| 1 Jun 2022 | ₹13.50 | Dividend + Special |
| 16 Jun 2021 | ₹3 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

₹8 Special dividends, last 12 months

Yes. Linde India Ltd paid out 19% of its profit as dividends in FY26, and it paid a dividend in each of its last 10 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Linde India management say on the latest results call? Linde India's management made 0 promises we could check against what it later reported. (Our read after the latest results, written 17 May 2026.)

## What is the future of Linde India? What is changing in the business? What is changing at Linde India, from the latest results and calls: odisha asu capacity expansion (tata steel de-captivation), operating leverage inflection, gas segment margin and medical oxygen demand secular growth. - Odisha ASU Capacity Expansion (Tata Steel De-captivation). Linde plc signed Oct 2024 agreements to de-captivate two large ASUs at Tata Steel Kalinganagar, more than doubling on-site capacity, long-term take-or-pay O2/N2/Ar contracts plus merchant market. ₹425 Cr capital spending. ⚠ estimate
- Operating Leverage Inflection, Gas Segment Margin. Operating margin expanded 490 basis points on a year earlier to 36.7% in October to December 2025, operating leverage from higher utilization of onsite and merchant gas capacity feeding directly to operating profit. ⚠ estimate
- Medical Oxygen Demand Secular Growth. Healthcare volumes growing consistently, medical oxygen, nitrous oxide, and medical gas distribution systems to hospitals form a structural recurring demand base insulated from industrial cycles. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 17 May 2026.)

## What could change the Linde India story? What are the risks? 89.24% of minority shareholders rejected the ₹417.7 Cr Praxair supply transaction in March 2026 EGM, Linde India now needs to restructure supply chain or find alternative sourcing, with potential short-term disruptions. ### The main risks

- RPT Supply Chain Disruption (Praxair India): 89.24% of minority shareholders rejected the ₹417.7 Cr Praxair supply transaction in March 2026 EGM, Linde India now needs to restructure supply chain or find alternative sourcing, with potential short-term disruptions. ✓ fact
- CFO Vacancy and Governance Trust Deficit: CFO Neeraj Kumar Jumrani resigned Dec 5, 2025 (same day as SAT ruling), interim CFO Ajay Kumar Sah appointed Feb 16, 2026; governance credibility severely impaired after 5-year RPT saga. ⚠ estimate
- Revenue Lumpiness from PED Project Timing: FY25 revenue declined 10.2% on a year earlier to ₹2,485 Cr from ₹2,769 Cr, PED project completion timing and gas volume rescheduling create lumpiness that distorts reported revenue trends. ✓ fact
- Structural Promoter Conflict (BOC Group UK vs Minority Shareholders): The 75% promoter (BOC Group UK, part of Linde plc) is the same entity whose subsidiaries (Praxair India, Linde South Asia Services) are at the center of the RPT dispute, structural minority-promoter conflict is endemic. ⚠ estimate

(Our read after the latest results, written 17 May 2026.)

## What to watch in Linde India's next results? When Linde India reports July to September 2026, these are the 5 checks that show whether the story is still on course. First: Supreme Court ruling on SEBI LODR aggregation; quarterly RPT disclosure volumes with Praxair; any SEBI enforcement action. | What to check | Why |
| --- | --- |
| Supreme Court ruling on SEBI LODR aggregation; quarterly RPT disclosure volumes with Praxair; any SEBI enforcement action. | RPT Supply Chain Disruption (Praxair India) |
| Permanent CFO appointment announcement; January to March 2026 quality of RPT disclosures. | CFO Vacancy and Governance Trust Deficit |
| January to March 2026 and April to June 2026 PED order book; gas segment volume disclosures. | Revenue Lumpiness from PED Project Timing |
| Odisha ASU commissioning timeline; Praxair supply continuity volumes post-EGM rejection. |  |
| Any restructuring of Linde India's commercial relationship with Praxair India; potential merger or acquisition announcement. | Structural Promoter Conflict (BOC Group UK vs Minority Shareholders) |

## Which stock lists is Linde India on? Linde India is on 2 of our India lists: 52 week high & low and Small & mid cap stocks. - [52 week high & low 52-week position: Near 52-week low](https://www.sectoralpha.in/52-week-high-stocks-india)
- [Small & mid cap stocks Size rank in India: 195](https://www.sectoralpha.in/small-cap-stocks-india)

## Is Linde India profitable? Linde India Ltd earned ₹105 Cr of net profit in the Jun 2026 quarter, −1.9% on the same quarter a year earlier. Full-year Mar 2026 profit was ₹549 Cr. Over 10 years profit has grown 40.0% a year on average. That is 15.1% of the quarter's revenue. The same quarter a year earlier earned ₹107 Cr. For the full year, Mar 2026 profit was ₹549 Cr (+20.7% on the year before). Why profit moved: revenue changed +21.5% on a year earlier and the margin moved −5.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +22.8% and revenue +10.6%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Linde India make, and is it growing? Linde India Ltd reported ₹694 Cr of revenue in the Jun 2026 quarter, +21.5% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 10 years it has grown 3.3% a year on average. The last full year, Mar 2026, came in at ₹2,531 Cr. Why this happened. In October 2024, parent Linde plc announced agreements with Tata Steel to take over two additional large air separation units currently under construction at the Kalinganagar Industrial Complex in Odisha. Transfer was expected in 2025. A long-term supply agreement for oxygen, nitrogen and argon was signed to support Tata Steel's major capacity expansion. Surplus capacity from the new ASUs also serves the local merchant gas market. The ₹425 Cr of spending was formally announced in May 2025 by Linde India with Chief Minister inauguration. New capacity is beginning to show in…

The last four reported quarters add to ₹2,653 Cr. Mar 2026 revenue was ₹2,531 Cr, +1.9% on the year before. Recent pace: the last four quarters grew +10.6% on average, against 3.3% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +10.4%, against −0.9% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +22.1%, against +10.4% a year (accelerating). ## How much of every ₹100 of sales does Linde India keep? Linde India Ltd's operating margin was 29.0% in the Jun 2026 quarter, 5.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 10 years it has been between 15.0% and 36.0%. The latest quarter is within that range. Why this happened. The gas business model carries high fixed costs (plant depreciation, power). As volumes ramp from Odisha ASUs and the growing merchant business, incremental revenue has a significantly higher flow-through to EBITDA. Q3 FY26 demonstrated this clearly: revenue +15.7% drove PAT +68% and EBITDA +33.7%. Pricing discipline across merchant and packaged gas businesses, combined with sustained healthcare volume growth, drives structural margin improvement. OPM trajectory from 8Q context data: 28% (Q1-Q4 FY24) → 35% (Q4 FY25) → 34% (Q1 FY26) → 44% (Q2 FY26, project-mix driven) → 37% (Q3 FY26), a structural step-change uplift. Why the margin moved: operating margin changed −5.6 percentage points on the year while gross margin changed −3.7 points. So the drop came mostly from the gross margin, which means input costs and prices charged. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. ## Is Linde India's profit turning into cash? Over the last 3 years, 126% of Linde India Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In Mar 2026 it brought in ₹786 Cr of operating cash against ₹549 Cr of profit. After ₹771 Cr of spending on assets, ₹15.0 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 126% of profit came in as cash: the cash cycle got 86 days longer between FY20 and Mar 2026, so more of each rupee of profit waits in the business before it arrives. What to look at next: the bigger use of cash is spending on new assets, at 3.2× depreciation over three years. The next section checks what that spending is building. ## Where does Linde India's cash go? Linde India Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −217 days in Mar 2026, up from −303 days in FY20. It spent ₹2,099 Cr on assets over the last 3 years. Customers take 73 days to pay, and stock sits for 79 days on average. At Mar 2026 sales of ₹2,531 Cr, each day of that cycle ties up about ₹6.9 Cr, so roughly −₹1,505 Cr is tied up in the business at any time. Mar 26: customers took 73 days to pay and stock sat for 79 days, about 2.6 months of sales sitting as stock, for a full cycle of −217 days, longer than FY20's −303. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 79 days. Customers pay about 73 days after that. Suppliers are paid at 370 days. Together that makes the −217-day cycle. Spending on assets: ₹2,099 Cr over the last 3 years, against ₹650 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹1,343 Cr (Mar 2026): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Linde India's P/E ratio, and how does it compare with its own history? Linde India Ltd's P/E is 91.3×, near the low end of its own history: it has been lower only 24% of the time. Its usual P/E (the middle reading) is 120.1×, over 9.6 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +20.7% while the price moved −2.7%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +18.2% a year; about +18.3% a year came from earnings growth and about −0.1 percentage points from the multiple (roughly no change). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Linde India business getting better or worse? Linde India Ltd's business is growing steadily. Profit and EPS growth have stayed positive throughout, and ROCE is steady at 17.2%. This is based on 12 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## What is the Linde India story, and has it been checked? Linde India Ltd's story is not scored yet against the checks our research set on 17 May 2026. Where it sits in its own cycle: MID CONTRACTION. From the numbers. FII stake declining (3.03% Jun 2024 to 2.27% Dec…

From the price. Price stage 4, week 7, below its 200-day line, relative strength falling. Where they disagree. FII stake declining (3.03% Jun 2024 to 2.27% Dec 2024); DII stable ~6.5-7.4%. Cycle history: peak 592.1x (Dec 2017) → trough 62.4x (Sep 2020) → expansion peak 156.7x (Jun 2024, EPS +258.7% during cycle) → current re-contraction at 105.5x. Quality score 2 (low reliability flag in source data, use with caution). What is not proven yet. 89.24% of minority shareholders rejected the ₹417.7 Cr Praxair supply transaction in March 2026 EGM, Linde India now needs to restructure supply chain or find alternative sourcing, with potential short-term disruptions. The test written in advance. RPT Supply Chain Disruption (Praxair India). Measured by: RPT Supply Chain Disruption (Praxair India) by the next result. The test written in advance. CFO Vacancy and Governance Trust Deficit. Measured by: CFO Vacancy and Governance Trust Deficit Permanent CFO appointment announcement; Q4 FY26 quality of RPT disclosures by the next result. The test written in advance. Revenue Lumpiness from PED Project Timing. Measured by: Revenue Lumpiness from PED Project Timing Q4 FY26 and Q1 FY27 PED order book; gas segment volume disclosures by the next result. Lever 6 · Order-book wins: building. Linde plc signed Oct 2024 agreements to de-captivate two large ASUs at Tata Steel Kalinganagar, more than doubling on-site capacity, long-term take-or-pay O2/N2/Ar contracts plus merchant market. ₹425 Cr capex. What proves it keeps working: Odisha ASU Capacity Expansion (Tata Steel De-captivation). It stops working if Supreme Court ruling on SEBI LODR aggregation; quarterly RPT disclosure volumes with Praxair; any SEBI enforcement action. Lever 1 · Operating leverage: building. EBITDA margin expanded 490 bps YoY to 36.7% in Q3 FY26, operating leverage from higher utilization of onsite and merchant gas capacity feeding directly to EBITDA. What proves it keeps working: Operating Leverage Inflection, Gas Segment Margin. It stops working if Supreme Court ruling on SEBI LODR aggregation; quarterly RPT disclosure volumes with Praxair; any SEBI enforcement action. Lever 2 · Value-added mix: building. Healthcare volumes growing consistently, medical oxygen, nitrous oxide, and medical gas distribution systems to hospitals form a structural recurring demand base insulated from industrial cycles. What proves it keeps working: Medical Oxygen Demand Secular Growth. It stops working if Supreme Court ruling on SEBI LODR aggregation; quarterly RPT disclosure volumes with Praxair; any SEBI enforcement action. Sources: our stock research file (17 May 2026) · quarterly results through Jun 2026. The story check is re-scored every results season; the record below never changes. ## What is Linde India management's track record? Management transition. ### Regulatory and governance record

F governance grade, CFO transition. (Checked 7 June 2026.)

## How much does Linde India earn on its capital? Linde India Ltd earned a ROCE of 18% in Mar 2026. That is up from a low of 5% in FY17. Its return on capital used (ROIC) is 2.2 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 21.7% net margin and 0.44× asset turnover (sales divided by assets). Why the return is what it is (Mar 2026): a 21.7% net margin × 0.44× asset turnover × 1.36× leverage (assets divided by equity) ≈ 13.0% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 9.8% − 12.0% = −2.2 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 9.8% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 12.8%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Linde India have too much debt? Linde India Ltd has total debt of ₹79.0 Cr against shareholder equity of ₹4,267 Cr as of Jun 2026, so its debt is 0.02× its equity, which is very little. Year by year, that ratio went from 0.01 in FY23 to 0.02 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Linde India shareholding pattern? No group of Linde India Ltd's owners changed its stake by a full percentage point over the last two years. Domestic institutions moved −0.1 points over the same period, to 6.7%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −0.3 points over 8 quarters, to 2.1%; Domestic institutions: −0.1 points over 8 quarters, to 6.7%; Promoters: +0.0 points over 8 quarters, to 75.0%. ## How far is Linde India from balance-sheet trouble? For Linde India Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Linde India rank in its industry? 43.3 out of 100, rank 4 of 4 in Industrial Gas, with 90% of the evidence available. Linde India Ltd scores 43.3 out of 100 against the 4 companies it is compared with in Industrial Gas, ranking 4. A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. The four parts add up to the total exactly: 19.1 + 18.8 + 5 + 0.4 = 43.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Linde India compared with? Linde India ranks 4 of 4 Industrial Gas companies on the 4-Factor Sector Score, with 43.3 out of 100. 1. [Ellenbarrie Industrial Gases Ltd](https://www.sectoralpha.in/stocks/ellenbarrie-industrial-gases-ltd) ELLEN · breaking out · Evidence leans up · 90% evidence 60.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.1/35 · Revenue 8.2% · Profit 40.7% · Operating margin change 1 points · 100% evidence Capital efficiency 16.6/25 · ROCE 14.5% · Operating margin 38% · 100% evidence Valuation 12.0/20 · P/E 36× · PEG 1.31 · 50% evidence Relative strength 12.7/20 · Lead over its industry -3.2% · Lead over NIFTY 500 8.7% · 1 year -33.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 19.1 + 16.6 + 12 + 12.7 = 60.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Inox India Ltd](https://www.sectoralpha.in/stocks/inox-india-ltd) INOXINDIA · leader · Evidence leans up · 97% evidence 51.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.7/35 · Revenue 19.9% · Profit 9% · Operating margin change -2 points · 100% evidence Capital efficiency 21.0/25 · ROCE 33.5% · Operating margin 20% · 100% evidence Valuation 2.6/20 · P/E 65.6× · PEG 3.66 · 85% evidence Relative strength 14.7/20 · Lead over its industry 14.7% · Lead over NIFTY 500 25.8% · 1 year 56.7% · 100% evidence · 10 of 12 weeks ahead Exact sum: 12.7 + 21 + 2.6 + 14.7 = 51 · What this means: Relative strength against the index is 25.8%, and revenue and profit growth are weak. 3. [Stallion India Fluorochemicals Ltd](https://www.sectoralpha.in/stocks/stallion-india-fluorochemicals-ltd) STALLION · quiet · Evidence leans down · 80% evidence 49.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.3/35 · Revenue 6.5% · Profit 52.9% · Operating margin change 5 points · 100% evidence Capital efficiency 11.7/25 · ROCE 11.8% · Operating margin 18% · 100% evidence Valuation 10.0/20 · P/E 41× · PEG n/a · 0% evidence Relative strength 6.8/20 · Lead over its industry -3% · Lead over NIFTY 500 7.4% · 1 year -21.1% · 100% evidence · 9 of 12 weeks ahead Exact sum: 21.3 + 11.7 + 10 + 6.8 = 49.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. Linde India Ltd this page LINDEINDIA · quiet · Evidence leans down · 90% evidence 43.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.1/35 · Revenue 10.4% · Profit 22.1% · Operating margin change -5 points · 100% evidence Capital efficiency 18.8/25 · ROCE 18.2% · Operating margin 29% · 100% evidence Valuation 5.0/20 · P/E 88.2× · PEG 6.56 · 50% evidence Relative strength 0.4/20 · Lead over its industry -20.9% · Lead over NIFTY 500 -10.1% · 1 year -6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 19.1 + 18.8 + 5 + 0.4 = 43.3 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Jun 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Industrial Gas](https://www.sectoralpha.in/sectors/industrial-gas), all 4 compared on one page. ## Which companies are close to Linde India in size? Linde India is the largest of 4 Industrial Gas companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: Inox India, Ellenbarrie Industrial Gases and Stallion India Fluorochemicals. ### Industrial Gas companies close in size

1. Linde India Ltd ₹48,196 crore
2. [Inox India Ltd](https://www.sectoralpha.in/stocks/inox-india-ltd) ₹16,884 crore
3. [Ellenbarrie Industrial Gases Ltd](https://www.sectoralpha.in/stocks/ellenbarrie-industrial-gases-ltd) ₹4,347 crore
4. [Stallion India Fluorochemicals Ltd](https://www.sectoralpha.in/stocks/stallion-india-fluorochemicals-ltd) ₹2,136 crore

[All 4 Industrial Gas companies, largest first](https://www.sectoralpha.in/sectors/industrial-gas#all-companies)

### Companies close in size in other industries

1. [Knowledge Realty Trust](https://www.sectoralpha.in/stocks/knowledge-realty-trust) ₹48,468 crore · Infra/Real Estate Investment Trust
2. [Mphasis Ltd](https://www.sectoralpha.in/stocks/mphasis-ltd) ₹48,226 crore · IT - Software
3. Linde India Ltd ₹48,196 crore
4. [Tata Communications Ltd](https://www.sectoralpha.in/stocks/tata-communications-ltd) ₹47,763 crore · Telecom Services
5. [Yes Bank Ltd](https://www.sectoralpha.in/stocks/yes-bank-ltd) ₹47,555 crore · Banks - Private

## What else do people ask about Linde India? ### What is Linde India's share price today? Linde India Ltd's share price is ₹5,848.50, −2.7% over the past year. The whole company is worth ₹49,872 Cr on the market. In the last 52 weeks it traded between ₹5,652 to ₹7,809; today it is 9% of the way up from the low, 10.8% below its 200-day average (as of 3 November 2026). ### What were Linde India's latest quarterly results? Linde India Ltd reported revenue of ₹694 Cr and net profit of ₹105 Cr for the Jun 2026 quarter. Revenue rose 21.5% and profit fell 1.9% compared with a year earlier. Earnings per share were ₹12.26. The operating margin was 29.0%, 5.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Linde India's market cap? Linde India Ltd's market capitalisation is ₹49,872 Cr at a share price of ₹5,848.50. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Linde India performing? Linde India Ltd's share price has been falling for 7 weeks. In its latest quarter, revenue rose 21.5% and profit fell 1.9% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 22 weeks running (as of 3 November 2026). ### Will Linde India's share price go up? This page does not forecast Linde India Ltd's share price. What it shows instead: the share price is ₹5,848.50, and it has been falling for 7 weeks. Its P/E of 91.3× is higher than 24% of its own last 10 years (as of 3 November 2026). ### Who owns Linde India? Promoters own 75.0% of Linde India Ltd, foreign institutions 2.1%, domestic institutions 6.7% and the public 16.1% (latest quarter). No group of owners changed its stake by a full point over the last two years (as of 3 November 2026). ### Does Linde India have too much debt? No, Linde India Ltd has little debt: its debt is 0.02× its equity, and its operating profit is 65 times its interest bill. Mar 2026 borrowings were ₹79.0 Cr against equity of ₹4,266 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Linde India in its business cycle? Linde India Ltd's Mar 2026 operating margin was 36.0%, against a 10-year range of 15.0% to 36.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 29.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Linde India story? The main question: the P/E is near the low end of its own history, higher than only 24% of past readings, but results are getting worse. A low multiple can stay low until the quarters turn. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Linde India a stock worth studying right now? What the numbers show: Linde India Ltd's P/E is near the low end of its own history, higher than only 24% of past readings, and its quarterly results are still getting worse. The main open question: whether results start to improve. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Linde India share price forecast for 2026? What is changing at Linde India, from the latest results and calls: odisha asu capacity expansion (tata steel de-captivation), operating leverage inflection, gas segment margin and medical oxygen demand secular growth. What would change the story: 89.24% of minority shareholders rejected the ₹417.7 Cr Praxair supply transaction in March 2026 EGM, Linde India now needs to restructure supply chain or find alternative sourcing, with potential short-term disruptions. ### Where does this page get Linde India's management information? From Linde India's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india

This is research, not advice. We’re not SEBI-registered.