Linde India Peer Comparison

NSE: LINDEINDIA | BSE: 523457

₹6,247.50

₹-75.50 (-1.19%)

As on 01-Oct-2026IST

Market cap

₹53,208 Cr

Revenue (TTM)

₹2,654 Cr

P/E Ratio

97.4

P/B Ratio

12.2

Div. Yield

0.2 %

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	Linde India	Bhagawati Gas	Bhagawati Oxygen	Ellenbarrie Industrial Gases	Gujarat FluoroChem	Hilltone Software & Gases	National Oxygen	Refex	Solar	Stallion India Fluorochemicals
Market cap (₹ Cr)	53,208	18	9	4,820	47,687	51	28	3,725	1,75,145	2,698
Revenue (₹ Cr)	2,654	0	0	357	5,303	14	18	2,853	11,351	442
Net Profit (₹ Cr)	491.37	1.01	2.97	120.65	612.00	-0.78	1.70	247.90	2,041.43	52.04
Net Margin (%)	18.38	34.32	60.00	28.94	11.47	-5.40	8.78	9.97	17.82	11.65
RoE (%)	13.22	6.88	52.62	12.71	8.13	-4.11	--	20.63	34.96	10.42
Price to Earnings	97.38	17.64	3.02	39.95	77.54	--	16.30	15.14	87.95	51.85
Price-To-Book	12.19	1.16	1.30	4.87	5.94	2.25	-3.42	2.58	25.26	3.85

Income Statement (₹ Cr)

	Linde India	Ellenbarrie Industrial Gases	Refex	Stallion India Fluorochemicals	Hilltone Software & Gases
Operating Revenue	2,530.64	341.58	2,276.74	377.45	7.52
Total Income	2,558.98	393.25	2,302.05	379.47	8.24
Total Expenditure	1,631.62	226.56	1,915.06	329.73	7.73
EBITDA	899.02	115.03	361.68	47.72	-0.21
Depreciation	234.87	21.48	20.00	1.17	0.16
EBIT	664.15	93.54	341.68	46.55	-0.37
Interest	14.50	9.91	36.56	6.15	0.11
Other Income	28.34	51.66	25.32	2.02	0.71
Exceptional Items	--	--	--	--	--
Profit before Tax	733.48	135.29	330.43	42.43	0.24
Provision for Tax	184.51	30.89	88.05	10.10	0.39
Profit after Tax	548.97	104.40	242.38	32.33	-0.16

	Linde India	Ellenbarrie Industrial Gases	Refex	Stallion India Fluorochemicals	Hilltone Software & Gases
Shareholder's Funds	4,266.55	977.14	1,504.15	300.84	13.66
Minority Interest	--	--	4.43	--	--
Non-Current Liabilities	1,421.22	181.84	88.98	-2.48	2.14
Current Liabilities	1,329.66	206.28	1,117.09	38.88	1.81
Total Liabilities	7,017.43	1,365.27	2,842.59	343.70	17.61

	Linde India	Ellenbarrie Industrial Gases	Refex	Stallion India Fluorochemicals	Hilltone Software & Gases
Non-Current Assets	5,856.27	1,046.75	302.99	23.86	13.60
Current Assets	1,161.16	318.52	2,326.72	313.38	4.01
Total Assets	7,017.43	1,365.27	2,842.59	343.70	17.61
Total Debt*	0.00	180.11	162.11	2.43	0.40
Net Current Assets	-168.50	112.23	1,209.63	274.50	2.20
Contingent Liabilities	75.10	7.64	567.01	6.45	--

	Linde India	Ellenbarrie Industrial Gases	Refex	Stallion India Fluorochemicals	Hilltone Software & Gases
Cash From Operating Activities	785.50	132.55	107.14	-13.43	0.76
Cash Flow from Investing Activities	-704.73	-436.38	-267.90	-19.68	0.58
Cash from Financing Activities	-115.69	304.88	65.35	75.91	-0.23
Net Cash Inflow / Outflow	-34.93	1.04	-95.41	42.80	1.11

	Linde India	Ellenbarrie Industrial Gases	Refex	Stallion India Fluorochemicals	Hilltone Software & Gases
ROCE (%)	18.50	15.70	24.06	19.67	2.42
ROE (%)	13.59	14.66	19.95	15.17	-1.14
ROA (%)	8.32	9.25	10.47	11.97	-0.94
EBIT Margin (%)	36.65	48.80	17.00	13.18	6.73
Net Margin (%)	21.45	26.55	10.53	8.52	-1.91
Cash Profit Margin (%)	30.97	36.85	11.52	8.87	0.04

	Linde India	Ellenbarrie Industrial Gases	Refex	Stallion India Fluorochemicals	Hilltone Software & Gases
Revenue Growth (%)	1.82	9.31	0.77	61.83	9.93
EBIT Growth (%)	11.34	14.34	51.13	85.25	-44.55
Net Profit Growth (%)	20.69	25.35	34.88	108.91	-131.00
EPS Growth (%)	20.69	16.45	21.11	61.88	-131.00
Book Value Growth (%)	11.67	102.90	29.71	140.17	-1.14

	Linde India	Ellenbarrie Industrial Gases	Refex	Stallion India Fluorochemicals	Hilltone Software & Gases
Price / Earnings	105.77	26.63	12.76	16.61	0.00
Price / Book Value	13.62	2.91	1.90	1.79	2.53
Dividend Yield (%)	0.18	0.00	0.79	0.00	0.00
EV/EBITDA	62.49	17.33	6.12	9.34	65.95
Market Cap (₹ Cr)	58,065.53	2,779.93	2,600.03	537.11	34.60

	Linde India	Ellenbarrie Industrial Gases	Refex	Stallion India Fluorochemicals	Hilltone Software & Gases
Debt to Equity	0.00	0.19	0.12	0.01	0.03
Short term debt to equity ratio	--	0.09	0.08	0.01	0.01
Current Ratio	0.87	1.54	2.08	8.06	2.22
Quick Ratio	0.78	1.48	2.01	5.47	1.89
Interest Coverage	51.59	14.65	10.04	7.90	3.18

	Linde India	Ellenbarrie Industrial Gases	Refex	Stallion India Fluorochemicals	Hilltone Software & Gases
Debtors to sales (%)	20.07	18.53	38.93	27.96	14.58
Asset Turnover	0.38	0.30	0.98	1.40	0.45
Receivable days	64.39	77.95	125.29	85.38	63.54
Inventory Days	16.56	15.15	6.69	92.73	24.35
Payable days	359.37	132.28	57.73	15.91	59.02
Cash Conversion Cycle	-278.42	-39.18	74.26	162.20	28.87

*TTM (Trailing Twelve Months) data based on income statement of last 4 quarters and interim half yearly balance sheet.