Linde India Ltd - Stock Valuation and Financial Performance

BSE: 523457 | NSE: LINDEINDIA | Industrial Gases & Fuels | Mid Cap

Linde India Share Price

6,698.05 -73.75 -1.09%
as on 19-Mar'24 16:59

DeciZen - make an informed investing decision on Linde India

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

inde India stock performance -

mw4me loader
P/E Ratio (SA):
137.27
Market Cap:
57,752.8 Cr.
52-wk low:
3,717
52-wk high:
6,897.5

Is Linde India Ltd an attractive stock to invest in?

1. Is Linde India Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Linde India Ltd is a average quality company.

2. Is Linde India Ltd undervalued or overvalued?

The key valuation ratios of Linde India Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Linde India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Linde India Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Linde India:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

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

Value Creation Index Colour Code Guide

Dec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Mar'23TTM
ROCE % 3.5%2.5%2.9%3%3.8%4.2%8.2%7%12.7%18.3%-
Value Creation
Index
-0.8-0.8-0.8-0.8-0.7-0.7-0.4-0.50.10.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,4281,4911,5671,8252,0332,1921,7621,4712,1122,5082,769
Sales YoY Gr.-4.4%5.1%16.5%11.4%7.8%-19.6%-16.5%43.6%18.8%-
Adj EPS 50.12.20.32.94.516.417.836.249.549.3
YoY Gr.--98.6%3100%-86.6%850%57.9%265.1%8.2%103.6%36.9%-
BVPS (₹) 167.2162.8163.2163.6165.1167.3250.6258.4315.5292390.9
Adj Net
Profit
42.20.619.12.624.338.4140152309422421
Cash Flow from Ops. 229271242293252376327339589503-
Debt/CF from Ops. 6.75.85.74.95.13.20.3000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 6.5%4.3%12.5%18.8%
Adj EPS 29.2%77%44.4%36.9%
BVPS6.4%12.1%5.2%-7.5%
Share Price 36.9% 68.1% 57.4% 77.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Dec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Mar'23TTM
Return on
Equity %
3.101.40.21.72.77.9712.618.214.5
Op. Profit
Mgn %
18.717.714.715.716.215.223.825.925.924.325.6
Net Profit
Mgn %
301.20.11.21.8810.314.616.815.2
Debt to
Equity
1.11.1110.90.80.1000-
Working Cap
Days
316321237155136153201225215199135
Cash Conv.
Cycle
24221716160-12-30-2172

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 14.40%

Sales growth is growing at healthy rate in last 3 years 12.50%

Net Profit is growing at healthy rate in last 3 years 44.43%

Sales growth is good in last 4 quarters at 11.40%

No data to display

Latest Financials - Linde India Ltd.

Standalone Consolidated
TTM EPS (₹) 49.3 50.2
TTM Sales (₹ Cr.) 2,769 2,769
BVPS (₹.) 390.9 394.4
Reserves (₹ Cr.) 3,248 3,278
P/BV 17.32 17.17
PE 137.27 134.96
From the Market
52 Week Low / High (₹) 3717.00 / 6897.50
All Time Low / High (₹) 14.65 / 6885.95
Market Cap (₹ Cr.) 57,753
Equity (₹ Cr.) 85.3
Face Value (₹) 10
Industry PE 19.3

Management X-Ray of Linde India:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Linde India

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSDec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Mar'23
Sales1,4281,4911,5671,8252,0332,1921,7621,4712,1123,136
Operating Expenses 1,1671,2271,3371,5391,7051,8661,3481,0961,5662,373
Manufacturing Costs5847038339191,0341,001484479604757
Material Costs2671691692472733924183466871,259
Employee Cost 82919299116127114695064
Other Costs 234264242274282346332203225293
Operating Profit 261265230287328325414375546763
Operating Profit Margin (%) 18.3%17.7%14.7%15.7%16.1%14.8%23.5%25.5%25.8%24.3%
Other Income 82332341724223356110
Interest 741039011611610386636
Depreciation 129181162195206199177176181253
Exceptional Items 500-100-60841112940
Profit Before Tax 117411016471,013236711614
Tax 39-2-23-3-3142868119779
Profit After Tax 77523131933727156514536
PAT Margin (%) 5.4%0.4%1.5%0.7%0.9%1.5%41.3%10.6%24.3%17.1%
Adjusted EPS (₹)9.10.62.81.62.23.985.318.260.362.8
Dividend Payout Ratio (%)17%237%27%48%45%38%12%16%22%19%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSDec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Mar'23

Equity and Liabilities

Shareholders Fund 1,4271,3891,3931,3951,4081,4272,1372,2042,6913,112
Share Capital 85858585858585858585
Reserves 1,3421,3041,3071,3101,3221,3422,0522,1182,6063,027
Minority Interest0000000000
Debt1,2481,2521,3881,0909266668000
Long Term Debt1,1161,1021,3389907764170000
Short Term Debt132150501001502508000
Trade Payables310251216302261315374452588545
Others Liabilities 1,0231,0516677767749776956041,2311,401
Total Liabilities 4,0093,9443,6643,5633,3693,3853,2153,2594,5105,059

Fixed Assets

Gross Block2,3553,0543,1542,7622,8912,6902,7292,8462,9023,020
Accumulated Depreciation6898539971883945286948571,0341,258
Net Fixed Assets1,6652,2012,1582,5742,4982,1622,0351,9891,8691,762
CWIP 744356577803644531768225
Investments 1515151515002216
Inventories76716569687165696977
Trade Receivables291307336357353365383407423477
Cash Equivalents 585721106391252413269881,191
Others Assets1,1599364923613616184384491,0911,309
Total Assets 4,0093,9443,6643,5633,3693,3853,2153,2594,5105,059

Cash Flow

(All Figures are in Crores.)
PARTICULARSDec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Mar'23
Cash Flow From Operating Activity 229271242293252376327339589629
PBT 117411016471,013236711614
Adjustment 131279228291319285-586163-149163
Changes in Working Capital -5104-2-7851-87-3210242
Tax Paid -14-2210-7-5-8-13-29-75-191
Cash Flow From Investing Activity -385-264-58-128-59-73981-5498-306
Capex -387-267-61-132-68-891,330-36113-343
Net Investments 00-10-100-31-24
Others 2244916-348-15-1561
Cash Flow From Financing Activity 169-8-222-80-261-216-1,193-201-28-119
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 00050000000
Interest Paid -124-136-127-122-117-104-98-5-1-3
Dividend Paid -13-13-13-6-6-9-13-85-26-115
Others 305140-81-1-137-103-1,082-111-2-2
Net Cash Flow 12-1-3785-688711584659203
PARTICULARSDec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Mar'23
Ratios
ROE (%)5.610.381.690.961.352.3640.817.172118.46
ROCE (%)7.13.63.164.484.85.6445.1310.9129.1921.36
Asset Turnover Ratio0.410.410.450.550.610.650.530.450.540.66
PAT to CFO Conversion(x)2.9754.210.5222.5413.2611.390.452.171.151.17
Working Capital Days
Receivable Days72686964616077987252
Inventory Days1817151212121417129
Payable Days388605503383376268301436276164

Linde India Ltd Stock News

Linde India Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Linde India on 19-Mar-2024 16:59 is ₹6,698.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 19-Mar-2024 16:59 the market cap of Linde India stood at ₹57,752.8.
The latest P/E ratio of Linde India as of 19-Mar-2024 16:59 is 137.3.
The latest P/B ratio of Linde India as of 19-Mar-2024 16:59 is 17.32.
The 52-week high of Linde India is ₹6,897.5 and the 52-week low is ₹3,717.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Linde India is ₹2,769 ( Cr.) .

About Linde India Ltd

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.

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