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Linde India Ltd Stock Analysis

Large Cap
Evaluated by 1046 users | BSE: 523457 | NSE: LINDEINDIA |
Industrial Gases & Fuels

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Linde India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation
 Dec'11Dec'12Dec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20TTM
Return on Capital Employed 6.44%3.04%3.5%2.46%2.86%2.97%3.83%4.15%8.23%7.01%-
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 1,1531,3241,4281,4911,5671,8252,0332,1921,7621,4711,806
Y-o-Y Gr. Rt.-14.9%7.9%4.4%5.1%16.5%11.4%7.8%-19.6%-16.5%-
Adjusted EPS (Rs.) 13.874.774.950.072.240.32.854.516.4317.7755.13
Y-o-Y Gr. Rt.--65.6%3.8%-98.6%3100%-86.6%850%57.9%265.1%8.2%-
Book Value per Share (Rs.) 147.78156.22167.2162.76163.15163.61165.06167.3250.56258.4299.31
Adjusted Net Profit 11840.742.20.619.12.624.338.4140152470
Net Op. Cash Flow (Rs. Cr.) 19396.3229271242293252376327339-
Debt to Cash Flow from Ops 4.3411.426.685.765.734.945.093.190.330-
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Linde India Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  10 yrs 5 yrs 3 yrs 1 yr
Net Sales 2.7%-1.3%-10.2%-16.5%
Adjusted EPS 2.8%51.3%84.1%8.2%
Book Value per Share 6.49.616.13.1
Share Price 22.7% 45.9% 81.3% 189.7%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Dec'11Dec'12Dec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20TTM
Return on Equity (%) 9.953.133.060.041.370.181.732.717.866.9819.77
Operating Profit Margin (%) 20.3915.3218.6917.7414.6615.7216.2215.2123.7825.8526.85
Net Profit Margin (%) 10.263.072.960.041.220.141.191.757.9510.326.03
Debt to Equity 0.660.821.071.1311.040.910.840.0500
Working Capital Days 312333316321237155136153201223261
Cash Conversion Cycle -91934221716160-17136
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Entity Percentage Holding
Promoters 75.00%
Institutions 11.09%
Non-Institutions 13.91%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Past 10 year's financial track record analysis by Moneyworkds4me indicates that Linde India Ltd is a average quality company.

Linde India Ltd's earnings have grown by 51.3%, whereas share price has appreciated 45.9% CAGR over the past five years, indicating the company’s share price is likely undervalued. However, for specific investment actions please consult your investment advisor.

Linde India Ltd share price has appreciated 22.7% annually (CAGR) over the past ten years.

Past 10 years financial track record analysis and assessment of future prospects by Moneyworks4me indicates that Linde India Ltd is an average long term investment. However, you need to ensure you buy at a right price to earn good returns.

Linde India formerly BOC India (BOCI) is engaged in manufacturing of industrial gases and undertaking engineering projects. Incorporated in 1935 as the Indian Oxygen and Acetylene Company, it is subsidiary of the Linde Group.

The company supplies more than 20,000 gases and mixtures - that makes steel plants more efficient, helps conserving environment, preservation of food, helping hospitals sustain lives and in general makes customers more productive.

The company owns one of

Linde India formerly BOC India (BOCI) is engaged in manufacturing of industrial gases and undertaking engineering projects. Incorporated in 1935 as the Indian Oxygen and Acetylene Company, it is subsidiary of the Linde Group.

The company supplies more than 20,000 gases and mixtures - that makes steel plants more efficient, helps conserving environment, preservation of food, helping hospitals sustain lives and in general makes customers more productive.

The company owns one of the Asia’s largest air separation units. The company owns more than 20 manufacturing units, 40 warehouses and depots, 100 dealers and more than 100 dedicated tankers in the distribution fleet.

Products

Industrial Gases- BOCI is the largest industrial gases company in India. It produces range of industrial gases that includes atmospheric gases and process gases. Under atmospheric gases, it produces Argon, Nitrogen, Oxygen, Krypton, Xenon and Neon.

Under process Gases it produces Hydrogen, Helium, Carbon dioxide, Acetylene, and Speciality gases. The company has capability to produces gases in pure form or in mixtures for a very wide variety of industrial purposes.

Medical Gases- The company is largest supplier of medical gases in India. Under this the company produces medical oxygen, nitrous oxide, home care products, oxygen concentrators and entonox.

Speciality Gases- The company manufactures and markets 20,000 special gases and mixtures. These gases cater to various industries such as Petrochemicals, Pharmaceuticals, Electronics, Semi-conductor, Paper, Cement, Power, Refineries, Hospitals and Universities.

Projects- This division is engineering and technology centre that is engaged in design, project engineering and execution. The company has an engineering and execution experience in the field of  steel manufacturing, food processing, electronics, waste water treatment, chemical processes, coating high performance glass, metal cutting and fabrication, high pressure water de-scaling, surface treatment of raw materials, sophisticated clean room engineering processes, fertilizers, petrochemicals, defence, space research and many others.

Important events

2010
Enters North India market with its stand alone ASU of 221 tpd capacity

2011

Brings on stream its 420 tpd ASU in Kalinganagar, Odisha for Jindal Stainless
Acquisition of Cryogenic Food Gases
Commencement of commercial Production at the Company's 418 tpd Air Separation Unit at Kalinganagar, Orissa.

2012

Starts construction of two large ASUs in Kalinganagar in Odisha, each with a capacity 1,200 tpd of gases to supply Tata Steel's greenfield steelworks from 2014
Company has changed its name from BOC India Ltd. to Linde India Ltd.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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