# Linde India (LINDEINDIA) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/lindeindia

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹6,859
- Change: +8.73%
- As of: 2026-11-06
- 1D return: +8.73%
- 5D return: +21.37%
- 1M return: +13.82%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

Linde India (LINDEINDIA) closed at ₹6,769.50 on 2026-11-06, marking a sharp +7.3% daily gain accompanied by extreme volume expansion (volume ratio of 11.24). This surge has positioned the stock near the upper end of its recent trading range (+79.3% in the 20-day and 50-day ranges), with immediate resistance at ₹6,863.98 (+1.4%) and ₹6,990.59 (+3.27%). On the daily chart, price action is structurally bullish, trading above all key moving averages (EMA/SMA 20/50/200) and the Supertrend indicator, supported by a developing trend strength (ADX 24.26) and strong directional movement (+DI 39.84 vs -DI 11.81). However, this short-term momentum contrasts with longer-term structures: the weekly and monthly Supertrends remain bearish, and ADX readings on those timeframes are weak to developing (16.46 and 20.02 respectively), suggesting the broader trend has not yet confirmed a reversal. The stock remains in a significant long-term drawdown (-13.7% from available high) despite positive year-to-date returns (+14.6%). Participation is evident, with five positive attention events recorded over the last 30 days. A sustained break above ₹6,990.59 with continued volume would be required to validate a shift toward a more robust multi-timeframe uptrend.

- Extreme Volume Surge: 2026-11-06 saw a +7.3% price move with a volume ratio of 11.24 (z-score 6.16), indicating strong institutional or large-cap participation in the breakout attempt.
- Daily Bullish Structure: Price trades above all daily moving averages and the Supertrend; ADX (24.26) shows developing trend strength with +DI significantly outpacing -DI.
- Longer-Term Caution: Weekly and monthly Supertrends remain bearish, and ADX values are low (16.46 weekly, 20.02 monthly), signaling that the broader trend direction is not yet confirmed as bullish.
- Key Levels: Immediate resistance lies at ₹6,863.98 (+1.4%) and ₹6,990.59 (+3.27%); support is found at ₹6,674.50 (-1.4%) and ₹6,652.00 (-1.74%).
- Range Position: Stock is near the top of its 20-day and 50-day ranges (+79.3%) but sits around the middle of its 252-day range (+48.9%), reflecting recovery from a -13.7% current drawdown.

- Bearish Engulfing Reversal
- Evening Star
- Inside Bar
- Bullish Engulfing Reversal

### News Context

Linde India’s seven-day window (November 3–6, 2026) was defined by a divergence between operational performance and regulatory scrutiny. On November 3, the company reported Q2 results showing revenue growth of 12.3% to ₹723 crore, offset by a sharp 30.5% decline in net profit to ₹119 crore. This profit contraction coincided with an EBITDA drop of 18% to ₹232 crore and a significant margin compression of 1,200 basis points to 32%, indicating substantial pressure on profitability despite top-line expansion.

Simultaneously, legal developments intensified on November 6 when the Supreme Court directed Linde India to share a valuation report with SEBI regarding its transaction with Praxair. This order escalates an ongoing dispute over whether the arrangement constitutes a material related-party transaction requiring minority shareholder approval—a condition previously rejected by 89.23% of shareholders in March 2026. The directive follows a December 2025 Securities Appellate Tribunal ruling that upheld SEBI’s initial directions against the company. While media reports attributed a 12% share price jump to this judicial development, the core uncertainty remains the final resolution of the regulatory classification and its implications for corporate governance and potential future approvals.

- Q2 Profitability Squeeze: Net profit fell 30.5% year-on-year to ₹119 crore while revenue rose 12.3% to ₹723 crore; EBITDA contracted 18% to ₹232 crore with margins dropping 1,200 bps to 32%.
- Supreme Court Intervention: On November 6, the Court ordered the disclosure of a valuation report to SEBI concerning the Praxair transaction, intensifying regulatory oversight.
- Governance Dispute Continues: The case centers on whether the transaction is 'material' and requires minority approval, which was rejected by 89.23% of shareholders in March 2026.
- Market Reaction: Shares jumped 12% following the Supreme Court’s November 6 directive, as reported by market coverage.

- [Explained - Here's what triggered a 12% jump in Linde India shares](https://www.cnbctv18.com/market/linde-india-share-price-here-is-what-triggered-a-12-percent-jump-explained-20028880.htm)
- [Linde India Q2 Results: Net profit slides 31% as margins take a hit; revenue up 12%](https://www.cnbctv18.com/market/stocks/linde-india-share-price-q2-results-net-profit-slides-31-as-margins-take-a-hit-revenue-up-12-20026157.htm)

### What Changed

Linde India shares rose 12% to ₹6,769.50 on November 6, 2026, driven by a Supreme Court directive requiring the company to share a valuation report with SEBI regarding its transaction with Praxair. This intensifies an ongoing regulatory dispute over whether the arrangement qualifies as a material related-party transaction, which would mandate minority shareholder approval. Such approval was previously rejected by 89.23% of shareholders in March 2026. The legal pressure follows a December 2025 ruling where the Securities Appellate Tribunal upheld SEBI's directions against Linde India. While the price action reflects immediate market reaction to the court order, the core issue remains unresolved: the classification of the transaction and the potential need for renewed shareholder consent.

- Share price increased 12% to ₹6,769.50 on November 6, 2026, following a Supreme Court directive to share a valuation report with SEBI.
- The dispute centers on whether the Praxair transaction is a material related-party deal requiring minority shareholder approval, previously rejected by 89.23% of voters in March 2026.
- Regulatory scrutiny persists after the Securities Appellate Tribunal upheld SEBI’s directions against the company in December 2025.

- [Explained - Here's what triggered a 12% jump in Linde India shares](https://www.cnbctv18.com/market/linde-india-share-price-here-is-what-triggered-a-12-percent-jump-explained-20028880.htm)

### Official Filings

Linde India Limited’s Board approved unaudited financial results for the half-year ended September 30, 2026, reporting revenue from operations of ₹14,175.60 million and ₹7,231.97 million for the respective periods. Concurrently, the company completed the acquisition of two 1800 TPD Air Separation Units (ASUs) from Tata Steel Limited at Kalinganagar on September 30, 2026, commencing immediate industrial gas supply to the client. These operational milestones are accompanied by significant regulatory developments: a Supreme Court hearing regarding a valuation report for a joint venture with Praxair India Private Limited is scheduled for November 6, 2026, following SEBI directives on related party transaction materiality. Additionally, shareholder approval for certain related party transactions was previously rejected at an Extraordinary General Meeting on March 5, 2026.

- Financial Results: Board-approved H1 FY2026 revenue from operations stands at ₹14,175.60 million (half-year) and ₹7,231.97 million (quarter), filed with NSE/BSE on November 5, 2026.
- Asset Acquisition: Completed conveyance of two 1800 TPD ASUs from Tata Steel Limited on September 30, 2026, initiating commercial gas supply at the Kalinganagar facility.
- Regulatory Proceedings: Supreme Court hearing set for November 6, 2026, concerning a valuation report for the Praxair India Private Limited JV; auditors noted this matter in their review reports.
- Governance Status: Shareholder approval for specific related party transactions under SEBI’s aggregate interpretation was rejected at an EGM held on March 5, 2026.

- [Linde India Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_05112026123444_Linde_India_Newspaper_Publication_UFR_30092026.pdf)
- [Linde India Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_03112026165015_Outcome_of_BM_03112026.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752031_03112026062643_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752034_03112026062743_WEB.xml)
- [Financial Results |Meeting Date: 03-Nov-2026](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_26102026140113_BM_Notice_to_SE_30092026.pdf)
- [LINDE INDIA LIMITED has informed the Exchange about Board Meeting to be held on 03-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_218_WebXMLFile_20261026_140912211.xml)
- [Board Meeting Intimation |Meeting Date: 03-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_218_WebXMLFile_20261026_140912211.xml)
- [Linde India Limited has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_30092026161856_LIL_Tata_Steel_Disclosure_SE.pdf)
- [LINDE INDIA LIMITED has informed the Exchange about Commencement or postponement (Sub-para 1-Para B) |SUBJECT: Commencement or postponement (Sub-para 1-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_218_WebXMLFile_20260930_162108674.xml)
- [Linde India Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_25092026151734_Closure_of_Trading_Window_SEs_30092026.pdf)

### Fundamentals

Linde India demonstrates a robust operating trajectory with sales expanding 12% year-on-year to ₹723 crore in the September 2026 quarter, while sequential revenue growth continued into Q1 FY2026-27 at ₹700 crore. Operating profit remained resilient at ₹232 crore for the Sep 2026 quarter, down from the peak of ₹282 crore in Sep 2025 but supported by strong cash generation; CFO/EBITDA conversion improved to 109% in FY2026. Earnings quality is evident as net profit per share rose to ₹13.48 in Sep 2026 from ₹12.24 a year prior, despite a TTM profit growth dip of -2%. The balance sheet reflects significant capacity expansion: Fixed Assets surged to ₹3,553 crore and total assets reached ₹6,766 crore as of Sep 2026, funded partly by increased borrowings (₹1,026 crore) and higher liabilities (₹2,378 crore). Capital Work In Progress decreased to ₹1,091 crore, indicating asset capitalization. Cash reserves doubled to ₹205 crore, providing liquidity. ROCE held steady at 18% in FY2026, and promoter holding remained stable at 75%. The key checkpoint is monitoring whether the expanded asset base translates into sustained margin recovery and debt servicing efficiency in upcoming quarters.

- Sales grew 12% YoY to ₹723 crore in Sep 2026, with sequential revenue increase continuing into Q1 FY2026-27 (₹700 crore).
- Cash conversion strengthened significantly, with CFO/EBITDA reaching 109% in FY2026 and cash on hand doubling to ₹205 crore.
- Balance sheet expanded materially: Fixed Assets rose to ₹3,553 crore and Borrowings jumped to ₹1,026 crore, while CWIP fell to ₹1,091 crore.
- ROCE remained healthy at 18% in FY2026, though TTM profit growth shows a slight contraction of -2%.

### Bear Case

Linde India faces a dual pressure of deteriorating operational profitability and intensifying regulatory scrutiny. In Q2, net profit contracted by 30.5% year-on-year to ₹119 crore, despite revenue growth of 12.3% to ₹723 crore. This divergence highlights significant margin erosion, with EBITDA falling 18% to ₹232 crore as the margin rate dropped by 1,200 basis points to 32%. Concurrently, the company is embroiled in a regulatory dispute regarding related-party transactions with Praxair. Following a December 2025 Securities Appellate Tribunal ruling upholding SEBI’s directions, the Supreme Court has directed Linde India to share a valuation report with SEBI. The core issue remains whether the arrangement qualifies as material, requiring minority shareholder approval—a condition previously rejected by 89.23% of shareholders in March 2026. On the technical front, the stock trades at ₹6,769.50, reflecting a current drawdown of -13.7% from its peak, with monthly and weekly trends indicating bearish momentum.

- Q2 Net profit fell 30.5% YoY to ₹119 crore while revenue rose 12.3% to ₹723 crore, signaling severe margin compression.
- EBITDA declined 18% to ₹232 crore, with margins contracting by 1,200 basis points to 32% due to profitability pressures.
- Supreme Court ordered the sharing of a valuation report with SEBI regarding Praxair transactions, following an adverse SAT ruling in December 2025.
- The regulatory dispute centers on minority shareholder approval for potentially material related-party transactions, which was rejected by 89.23% of voters in March 2026.

- [Explained - Here's what triggered a 12% jump in Linde India shares](https://www.cnbctv18.com/market/linde-india-share-price-here-is-what-triggered-a-12-percent-jump-explained-20028880.htm)
- [Linde India Q2 Results: Net profit slides 31% as margins take a hit; revenue up 12%](https://www.cnbctv18.com/market/stocks/linde-india-share-price-q2-results-net-profit-slides-31-as-margins-take-a-hit-revenue-up-12-20026157.htm)
- [Linde India Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_05112026123444_Linde_India_Newspaper_Publication_UFR_30092026.pdf)
- [Linde India Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_03112026165015_Outcome_of_BM_03112026.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752031_03112026062643_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752034_03112026062743_WEB.xml)
- [Financial Results |Meeting Date: 03-Nov-2026](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_26102026140113_BM_Notice_to_SE_30092026.pdf)
- [LINDE INDIA LIMITED has informed the Exchange about Board Meeting to be held on 03-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_218_WebXMLFile_20261026_140912211.xml)
- [Board Meeting Intimation |Meeting Date: 03-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_218_WebXMLFile_20261026_140912211.xml)
- [Linde India Limited has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_30092026161856_LIL_Tata_Steel_Disclosure_SE.pdf)

### FAQs

**What triggered the recent 12% jump in Linde India's share price?**

Shares rose 12% after the Supreme Court directed Linde India to share a valuation report with SEBI regarding its transaction with Praxair. This intensifies an ongoing regulatory dispute over whether the arrangement qualifies as a material related-party transaction requiring minority shareholder approval, which was previously rejected by 89.23% of shareholders in March 2026.

**How did Linde India perform financially in Q2 FY27 (ended September 30, 2026)?**

The company reported revenue growth of 12.3% year-on-year to ₹723 crore. However, net profit declined sharply by 30.5% to ₹119 crore. EBITDA fell 18% to ₹232 crore, with margins contracting by 1,200 basis points to 32%, reflecting significant pressure on profitability despite top-line expansion.

**What is the current status of the legal proceedings with SEBI and Praxair?**

Linde India received a valuation report for the Praxair JV in March 2026 and filed an Interlocutory Application before the Supreme Court seeking a stay on actions arising from it. The matter is listed for hearing on November 6, 2026. Additionally, the Securities Appellate Tribunal upheld SEBI's directions against the company in December 2025.

**What are the key technical levels and trends for Linde India shares today?**

As of November 6, 2026, the stock closed at ₹6,769.50. Daily technical indicators show a bullish Supertrend direction with resistance near ₹6,864 and support around ₹6,675. However, monthly and weekly trends remain bearish. The stock has seen a YTD return of +14.6% but is currently in a -13.7% drawdown from its peak.

- [Explained - Here's what triggered a 12% jump in Linde India shares](https://www.cnbctv18.com/market/linde-india-share-price-here-is-what-triggered-a-12-percent-jump-explained-20028880.htm)
- [Linde India Q2 Results: Net profit slides 31% as margins take a hit; revenue up 12%](https://www.cnbctv18.com/market/stocks/linde-india-share-price-q2-results-net-profit-slides-31-as-margins-take-a-hit-revenue-up-12-20026157.htm)
- [Linde India Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_05112026123444_Linde_India_Newspaper_Publication_UFR_30092026.pdf)
- [Linde India Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_03112026165015_Outcome_of_BM_03112026.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752031_03112026062643_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752034_03112026062743_WEB.xml)
- [Financial Results |Meeting Date: 03-Nov-2026](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_26102026140113_BM_Notice_to_SE_30092026.pdf)
- [LINDE INDIA LIMITED has informed the Exchange about Board Meeting to be held on 03-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_218_WebXMLFile_20261026_140912211.xml)
- [Board Meeting Intimation |Meeting Date: 03-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_218_WebXMLFile_20261026_140912211.xml)
- [Linde India Limited has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_30092026161856_LIL_Tata_Steel_Disclosure_SE.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Weak Uptrend
- Weekly trend: Weak Uptrend
- Pivot point: ₹6,357
- Risk regime: Price Risk Requires Attention

### Support levels
- 6863.9796875
- 6674.5
- 6191.25

### Resistance levels
- 6990.5859375
- 7319.5
- 7516.90234375

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +8.73% |
| return_10 | +19.84% |
| return_1m | +11.48% |
| return_1y | +17.39% |
| return_20 | +13.82% |
| return_3m | -4.10% |
| return_5 | +21.37% |
| return_6m | -9.45% |
| return_since_start | +12.82% |
| return_ytd | +16.10% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -28.23% |
| annualized_volatility | +32.10% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Linde India Limited Q2 FY2026-27: Revenue up 4% QoQ, profit up 14%

Linde India’s revenue from operations rose 4.2% sequentially to ₹723 crore in the quarter ended 30 September 2026, while net profit increased 13.6% to ₹119 crore. Year on year, revenue grew 12.3%, but net profit fell 30.5% and profit before tax declined 31.4%. Operating cash flow was ₹711 crore, though investing outflows of ₹1,444 crore left free cash flow negative at ₹732 crore.

## Revenue and profitability

Revenue from operations increased for a second consecutive quarter, from ₹614 crore in Q4 FY2025-26 to ₹694 crore in Q1 FY2026-27 and ₹723 crore in Q2 FY2026-27. Total income rose 4.3% QoQ to ₹730 crore. Expenses increased 2.3% to ₹575 crore, while profit before tax rose 12.4% to ₹155 crore.

Net profit was ₹119 crore, up from ₹105 crore in Q1 FY2026-27 but below ₹193 crore in Q3 FY2025-26. Earnings per share increased to ₹13.93 from ₹12.26 sequentially. Tax expense rose 14.6% QoQ to ₹40 crore.

## Costs and finance expense

Finance costs increased to ₹15.8 crore from ₹5.9 crore in Q1 FY2026-27. Noncurrent borrowings stood at ₹925 crore at 30 September 2026, compared with nil at 31 March 2026. Depreciation and amortisation was ₹67.5 crore, and employee benefit expense was ₹16.2 crore in the quarter.

## Cash generation and investment

Operating cash flow was ₹711 crore, against investing cash outflow of ₹1,444 crore and financing cash inflow of ₹827 crore. Free cash flow, calculated as operating cash flow plus investing cash flow, was negative ₹732 crore. Cash and cash equivalents stood at ₹205 crore on 30 September 2026, up from ₹110 crore on 31 March 2026.

Capital work in progress declined to ₹1,091 crore from ₹1,343 crore at 31 March 2026, while property, plant and equipment increased to ₹3,534 crore from ₹2,073 crore. These movements accompanied substantial investment during the period.

## Balance sheet

Total assets were ₹6,766 crore at 30 September 2026, up from ₹5,808 crore at 31 March 2026. Equity increased to ₹4,388 crore from ₹4,267 crore, while total liabilities rose to ₹2,378 crore from ₹1,542 crore. Noncurrent liabilities were ₹1,268 crore, including noncurrent financial liabilities of ₹997 crore. Current liabilities were ₹1,110 crore and current assets ₹1,449 crore.

## Key Takeaway

Sequential growth in revenue and profit continued in Q2, but year-on-year profit remained lower. Strong operating cash flow was more than absorbed by investing outflows, and the balance sheet expanded alongside higher borrowings. The quarter therefore combines improving sequential earnings with substantial investment and a larger liability base.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +75.00%
- FII holding: +2.03%
- DII holding: +6.79%
- Mutual fund holding: +6.34%
- Retail holding: +6.16%
- Promoter pledged: +0.00%

### Major reported shareholders

- The BOC Group Ltd., U.K. — +75.00% (Bodies Corporate)
- Kotak Mutual Fund through its various Funds — +2.83%
- Manish Jain — +1.96%
- Nippon Life India Trustee Ltd. through its various Funds — +1.40%
- Vanaja Sundar Iyer — +1.01%

## Official filings

- 2026-11-05 — Generic Announcement: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_05112026123444_Linde_India_Newspaper_Publication_UFR_30092026.pdf)
- 2026-11-03 — Generic Announcement: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_03112026165015_Outcome_of_BM_03112026.pdf)
- 2026-11-03 — Financial Results Filing: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752031_03112026062643_WEB.xml)
- 2026-11-03 — Financial Results Filing: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752034_03112026062743_WEB.xml)
- 2026-10-26 — Board Meeting Notice: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_26102026140113_BM_Notice_to_SE_30092026.pdf)
- 2026-10-26 — Generic Announcement: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_218_WebXMLFile_20261026_140912211.xml)
- 2026-10-26 — Board Meeting Notice: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_218_WebXMLFile_20261026_140912211.xml)
- 2026-09-30 — Generic Announcement: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_30092026161856_LIL_Tata_Steel_Disclosure_SE.pdf)
- 2026-09-30 — Generic Announcement: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_218_WebXMLFile_20260930_162108674.xml)
- 2026-09-25 — Generic Announcement: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_25092026151734_Closure_of_Trading_Window_SEs_30092026.pdf)
- 2026-09-25 — Generic Announcement: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_218_WebXMLFile_20260925_151327666.xml)
- 2026-09-17 — Generic Announcement: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_17092026150359_LIL_Newspaper_Publication_17092026.pdf)
- 2026-09-15 — Generic Announcement: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_15092026163009_LIL_Contact_details_of_KMP_15092026.pdf)
- 2026-08-13 — Generic Announcement: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_13082026172514_Linde_India_Proceedings.pdf)
- 2026-08-13 — Generic Announcement: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_13082026174640_Linde_India_Voting_results_AGM.pdf)
- 2026-08-11 — Management Change: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_218_WebXMLFile_20260811_191300217.xml)
- 2026-08-11 — Generic Announcement: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_11082026190415_Outcome_of_BM_August_2026.pdf)
- 2026-08-11 — Management Change: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_11082026190021_Outcome_of_BM_August_2026.pdf)
- 2026-08-11 — Management Change: Linde India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_11082026183143_Outcome_of_BM_August_2026.pdf)
- 2026-07-21 — Generic Announcement: Linde India Limited is holding its 90th Annual General Meeting on August 13, 2026, via video conference. The Annual Report for the 2025-26 financial year is available on the company's website, www.lindeindia.in, for members whose email addresses are not registered. This communication is in compliance with SEBI Listing Regulations. — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_21072026180420_Linde_India_SE_Intimation_Letter_36_1_b_90th_AGM.pdf)
- 2026-07-21 — Generic Announcement: Linde India Limited has published a notice regarding its 90th Annual General Meeting, E-Voting, and Book Closure, scheduled for August 13, 2026. The company has sent its Annual Report for 2025-26 to members electronically on July 20, 2026. The notice was published in Business Standard and Aajkaal on July 21, 2026. The book closure period is from August 7 to August 13, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_21072026181150_LIL_SE_intimation_Newspaper_Publication_Notice_of_90th_AGM.pdf)
- 2026-07-20 — Official Filing: LINDE INDIA LIMITED will hold its 90th Annual General Meeting on Thursday, August 13, 2026, at 10:00 AM via Video Conference (VC) or Other Audio-Visual Means (OAVM). The meeting agenda includes the adoption of audited financial statements for the year ended March 31, 2026, declaration of a dividend for the same period, the re-appointment of Director Michael James Devine, and the ratification of remuneration for M/s. Mani & Co., Cost Auditors for the financial year ending March 31, 2027.
- 2026-07-20 — Generic Announcement: Linde India submitted its Business Responsibility and Sustainability Report for the Financial Year 2025-26 on July 20, 2026. The report, which forms part of the Annual Report 2025-26, was submitted to the National Stock Exchange of India Ltd. and BSE Limited. The company's paid-up capital is Rs. 852,842,230/-. The report was prepared on a standalone basis and assured by Price Waterhouse & Co Chartered Accountants LLP with Reasonable Assurance. — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_20072026163335_Linde_India_BRSR_to_SE_90th_AGM.pdf)
- 2026-07-20 — Generic Announcement: Linde India Limited has announced its 90th Annual General Meeting (AGM) will be held on August 13, 2026, via Video Conference. The company has commenced dispatching the Notice of the AGM and the Annual Report for the financial year ended March 31, 2026, to its shareholders. Key agenda items include the adoption of financial statements, declaration of a 120% dividend, re-appointment of Director Michael James Devine, and ratification of remuneration for Cost Auditors M/s. Mani & Co. at Rs. 2,30,000 plus applicable taxes. — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_20072026162336_Linde_India_Notice_to_SE_90th_AGM.pdf)
- 2026-07-14 — Generic Announcement: On July 13, 2026, Linde India Limited invested Rs. 699,099,984.30 in Zenataris Renewable Energy Private Limited, a Special Purpose Vehicle of Fourth Partner Energy Private Limited. This investment, representing the final tranche of a planned Rs. 105 Crores, resulted in Linde India acquiring 8,293,001 equity shares, or 26.77% ownership, in the renewable energy company. The transaction was completed on July 14, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/LINDEINDIA1_14072026180219_Linde_India_Investment_in_Zenataris_14072026.pdf)

## News and market events

- 2026-11-06 — CNBC-TV18: **Explained - Here's what triggered a 12% jump in Linde India shares** — Linde India shares rose 12% after the Supreme Court directed the company to share a valuation report with SEBI regarding its transaction with Praxair, intensifying an ongoing regulatory dispute over related-party transactions. The core issue is whether the arrangement qualifies as material, which would require minority shareholder approval, a condition previously rejected by 89.23% of shareholders in March 2026. This development follows a December 2025 ruling where the Securities Appellate Tribunal upheld SEBI's directions against Linde India. — [Source](https://www.cnbctv18.com/market/linde-india-share-price-here-is-what-triggered-a-12-percent-jump-explained-20028880.htm)
- 2026-11-03 — CNBC-TV18: **Linde India Q2 Results: Net profit slides 31% as margins take a hit; revenue up 12%** — Linde India reported a 30.5% year-on-year decline in Q2 net profit to ₹119 crore, despite revenue rising 12.3% to ₹723 crore. The company's EBITDA fell 18% to ₹232 crore as the margin contracted by 1,200 basis points to 32%, reflecting pressure on profitability. — [Source](https://www.cnbctv18.com/market/stocks/linde-india-share-price-q2-results-net-profit-slides-31-as-margins-take-a-hit-revenue-up-12-20026157.htm)
- 2026-09-28 — Economic Times: **Linde deepens its India semiconductor footprint, locks in Sanand land parcel - The Economic Times** — The US-German company has acquired a land parcel in Sanand, Gujarat, for establishing its second facility in the region to capitalise on the state's emergence as a chip packaging centre, top company executives told ET. Linde is currently building an air separation unit in Dholera, Gujarat to service an upcoming semiconductor fab of the Tata Group. It also has an air separation plant in Dahej and packaged gases unit in Ahmedabad. — [Source](https://economictimes.indiatimes.com/tech/technology/linde-deepens-its-india-semiconductor-footprint-locks-in-sanand-land-parcel/articleshow/134524508.cms)
- 2026-09-23 — Orissa POST: **SEMICON India 2026: Odisha’s chip story enters a new phase - OrissaPOST** — ARINDAM GANGULY, OP New Delhi: Odisha’s semiconductor ambitions received a signifi cant boost at SEMICON India 2026, with the three-day global technology event emerging as an important platform for the State to showcase its growing capabilities, attract fresh investments and position itself as an emerging destination for semiconductor and electronics manufacturing in eastern India. Also […] — [Source](https://www.orissapost.com/semicon-india-2026-odishas-chip-story-enters-a-new-phase/)
- 2026-09-19 — IANSLIVE.IN: **SEMICON India 2026: Industry leaders hail India’s rising semiconductor ambitions** — New Delhi, Sep 19 (IANS) India is rapidly emerging as a major destination for semiconductor investments and manufacturing, driven by growing international partnerships, large-scale investments and a fast-expanding ecosystem, industry leaders attending the third and final day of SEMICON India 2026 said on Saturday. — [Source](https://ianslive.in/semicon-india-2026-industry-leaders-hail-indias-rising-semiconductor-ambitions--20260919210127)
- 2026-09-19 — DECCANCHRONICLE.COM: **Cuttack to Get 870-Acre ‘Silicon Valley’** — Odisha receives Rs 23,600 crore investment proposals at Semicon India — [Source](https://www.deccanchronicle.com/nation/in-other-news/cuttack-to-get-870-acre-silicon-valley-1988738)
- 2026-09-17 — Economic Times: **Karnataka woos investors at Semicon India; Euler Motors among firms in talks** — With Samsung Electronics already operating research and development facilities in Karnataka and having a presence in the semiconductor sector, Patil said the state had proposed that the company consider setting up manufacturing operations in Karnataka. — [Source](https://economictimes.indiatimes.com/news/company/corporate-trends/karnataka-woos-investors-at-semicon-india-euler-motors-among-firms-in-talks/articleshow/134315376.cms)
- 2026-08-11 — CNBC-TV18: **Q1 Results Highlights: Bata India profit up 23.1%, PI Industries profit down 39%** — Q1 Results Highlights: MRF, Ashoka Buildcon, Zydus Life, Bata India, Gokaldas Exports, Balrampur Chini, DAM Capital, EPack Durable, Delta Corp, Finolex Cables, JSW Paints, KPI Green, Landmark Cars, Manappuram Finance, Laxmi Dental, NBCC, RVNL, Senco Gold, Siemens Ltd, TD Power Systems and Venky's were among the companies that reported their results today. Investors also reacted to earnings from Vodafone Idea, Bosch, Zee Entertainment, Gland Pharma, among other companies. The blog tracked all the LIVE Q1 results updates. — [Source](https://www.cnbctv18.com/market/q1-results-live-updates-vodafone-idea-bosch-mrf-bata-manappuram-nbcc-rvnl-zydus-life-zee-gland-ideaforge-share-price-liveblog-19966154.htm)
- 2026-08-11 — CNBC-TV18: **Stocks to Watch for August 12: Auto stocks, Manappuram Finance, NBCC, Larsen & Toubro and more** — From NBCC (India) reporting a 17.2% year-on-year rise in net profit to L&T entering into agreements with its wholly owned subsidiary Vyoma.AI; these are stocks to track ahead of Wednesday trading session. Investors will also keep an eye on Grasim Industries, Astral and Gujarat Fluorochemicals, which are scheduled to announce their Q1 FY27 results tomorrow, August 12. — [Source](https://www.cnbctv18.com/photos/market/stocks-to-watch-for-august-12-auto-stocks-manappuram-finance-nbcc-larsen-toubro-and-more-19966808.htm)
- 2026-08-11 — CNBC-TV18: **Linde India appoints Vikash Dokania as CFO effective September 15** — Linde India appointed Vikash Dokania as CFO, effective September 15, 2026. He replaces Interim CFO Ajay Kumar Sah. — [Source](https://www.cnbctv18.com/business/companies/linde-india-appoints-vikash-dokania-as-cfo-effective-september-15-19966868.htm)
- 2026-08-10 — CNBC-TV18: **Q1 Results LIVE Updates: Titan, Ola Electric react to earnings; Bharat Forge, Vodafone Idea report today** — Q1 Results LIVE Updates: Bharat Forge Vodafone Idea, Hindustan Copper, Wockhardt, Info Edge, Zee Entertainment, Linde India, ideaForge, Gland Pharma, Bosch, Astra Micro, AstraZeneca Pharma, are among the companies reporting their earnings today. Earnings reactions will come from stocks like Kaynes Tech, PFC, Delhivery and many other stocks. Watch this space for all the LIVE results updates of the first quarter. — [Source](https://www.cnbctv18.com/market/q1-results-live-updates-today-vodafone-idea-bharat-forge-pfc-kaynes-sbi-oil-titan-wockhardt-hind-copper-delhivery-ola-share-price-liveblog-19965183.htm)
- 2026-07-15 — The Hindu: **Sensex today | Stock Market Live: Sensex jumps nearly 550 points, Nifty tops 24,200 as earnings lift sentiment** — Sensex, Nifty, Share Prices LIVE:  Indian benchmark indices trade higher on Wednesday, tracking positive global cues as investors shifted focus to the earnings season. Easing oil prices, optimism over the India-UK trade pact and encouraging early corporate results further supported market sentiment. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-15-july-2026/article71220956.ece)

## Business profile

**Strategic vision:** Industrial gases and engineering solutions provider.

### Business segments
- **Industrial Gases and Engineering:** This segment focuses on providing industrial, specialty, and healthcare gases and mixtures, along with related equipment and application solutions. It also includes the design, supply, installation, and commissioning of air separation units and other gas plants.
- **Project Engineering Division (PED):** The Project Engineering Division specializes in the design, supply, installation, and commissioning of tonnage air separation units, nitrogen plants, PSA plants, and gas distribution systems. It also manufactures cryogenic vessels.

### Competitive strengths
- Operates a significant network of facilities across India.
- Owns the country's largest air separation plant.
- Member of a global industrial gases and engineering company.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/lindeindia
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