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Last Updated on: 30 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo

Linde India Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 29, 2024, 9:30 pm

Market Cap 52,441 Cr.
Current Price 6,149
High / Low 9,935/5,320
Stock P/E120
Book Value 416
Dividend Yield0.07 %
ROCE17.4 %
ROE12.9 %
Face Value 10.0
PEG Ratio-11.39

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Linde India Ltd

Competitors of Linde India Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Gagan Gases Ltd 10.5 Cr. 23.3 32.0/18.565.7 6.880.00 %3.82 %1.99 % 10.0
Bhagawati Oxygen Ltd 12.7 Cr. 54.9 84.7/39.0 17.80.00 %57.5 %120 % 10.0
Refex Industries Ltd 6,315 Cr. 490 600/10949.1 52.40.02 %28.8 %25.7 % 2.00
Linde India Ltd 52,441 Cr. 6,149 9,935/5,320120 4160.07 %17.4 %12.9 % 10.0
Industry Average29,378.00 Cr1,679.3078.27123.270.02%26.88%40.15%8.00

All Competitor Stocks of Linde India Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales475441519507644534588686697630721711706
Expenses345309383377496403453542529444557538520
Operating Profit130132136130148132135144168186164174186
OPM %27%30%26%26%23%25%23%21%24%29%23%24%26%
Other Income142991811211411352822181922
Interest1111111111111
Depreciation47454545464646474866495051
Profit before tax96385109951229998130146140132141156
Tax %35%21%35%35%36%35%-72%30%23%30%26%24%25%
Net Profit6230371627864169911139998107117
EPS in Rs7.3035.488.277.319.207.4919.8410.6413.2711.5811.5112.5113.74

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthDec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023TTM
Sales1,1531,3241,4281,4911,5671,8252,0332,1921,7621,4712,1123,1362,760
Expenses9251,1201,1671,2141,3371,5391,7051,8661,3471,0961,5642,3712,068
Operating Profit228205261277230287328326415375548764691
OPM %20%15%18%19%15%16%16%15%24%25%26%24%25%
Other Income18745911223411238624434810986
Interest1407410390116116103866365
Depreciation71113129181162195206199177176181253213
Profit before tax175126117411016471,013236711614560
Tax %30%29%34%-51%-4,164%-31%-17%29%28%34%28%13%
Net Profit1228977523131933727156514536417
EPS in Rs14.2710.499.070.632.751.572.223.9385.2718.2460.2662.8248.87
Dividend Payout %11%14%17%237%27%48%45%38%12%16%22%19%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year
YoY Net Profit Growth (%)
Change in YoY Net Profit Growth (%)

No data available for trend analysis.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:5%
3 Years:23%
TTM:-5%
Compounded Profit Growth
10 Years:23%
5 Years:66%
3 Years:42%
TTM:5%
Stock Price CAGR
10 Years:30%
5 Years:54%
3 Years:33%
1 Year:3%
Return on Equity
10 Years:8%
5 Years:12%
3 Years:15%
Last Year:13%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 3:15 pm

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Sep 2024
Equity Capital85858585858585858585858585
Reserves1,2491,3421,3041,3071,3101,3221,3422,0522,1182,6063,0293,3493,463
Borrowings1,0991,5281,5641,3881,4451,2821,199108724222142
Other Liabilities9811,0119268837226807599701,0481,2871,2461,3241,316
Total Liabilities3,4143,9663,8803,6643,5633,3693,3853,2153,2594,0034,3824,7804,907
Fixed Assets1,6841,6652,2012,1582,5732,4982,1622,0351,9891,8691,7621,8221,787
CWIP576744356577803644531768225483791
Investments1515151515150022162734
Other Assets1,1391,5421,3089158958211,1791,1271,2512,0642,3782,4482,295
Total Assets3,4143,9663,8803,6643,5633,3693,3853,2153,2594,0034,3824,7804,907

Reserves and Borrowings Chart

Cash Flow

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024
Cash from Operating Activity +96229271242293252376327339589629437
Cash from Investing Activity +-166-385-264-58-128-59-73981-5498-306-539
Cash from Financing Activity +93169-8-222-80-261-216-1,193-201-28-119-105
Net Cash Flow2312-1-3785-688711584659203-208

Free Cash Flow

MonthDec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023
Free Cash Flow228.00204.00260.00276.00229.00286.00327.00325.00307.00368.00524.00742.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024
Debtor Days8574757871636179101734763
Inventory Days8610415314110291665772372232
Days Payable310424541466447348293327477312156235
Cash Conversion Cycle-139-246-313-247-274-194-166-190-303-202-87-139
Working Capital Days-9-32-4527-50-42-39-206-3-9-11
ROCE %4%5%3%3%4%5%6%11%10%17%21%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs2.56%2.59%2.65%2.77%2.80%2.77%2.85%2.89%2.25%2.31%3.03%2.42%
DIIs8.27%8.31%7.97%7.77%7.80%8.01%7.76%7.44%7.22%7.45%6.84%6.88%
Public14.17%14.10%14.38%14.45%14.39%14.23%14.38%14.67%15.52%15.23%15.13%15.70%
No. of Shareholders46,25348,53751,97450,99550,48144,45744,13749,72454,66152,22160,13863,324

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Kotak Equity Opportunities Fund - Regular Plan814,7363.2488.42180,6172024-12-28351.08%
Axis Midcap Fund461,7711.26276.82180,6172024-12-28155.66%
Kotak ELSS Tax Saver Fund200,0002.91119.9180,6172024-12-2810.73%
Axis Growth Opportunities Fund180,6171.13108.28180,6172024-12-280%
DSP Mid Cap Fund168,3970.7100.95180,6172024-12-28-6.77%
Axis Special Situations Fund91,9424.6155.12180,6172024-12-28-49.1%
Kotak ESG Opportunities Fund67,0004.2240.17180,6172024-12-28-62.9%
Canara Robeco Mid Cap Fund65,4502.4339.24180,6172024-12-28-63.76%
Aditya Birla Sun Life MNC Fund - Div23,7890.4314.26180,6172024-12-28-86.83%
Aditya Birla Sun Life MNC Fund - Gr23,7890.4314.26180,6172024-12-28-86.83%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Dec 22Dec 21Dec 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)50.9063.0951.4559.4717.72
Diluted EPS (Rs.)50.9063.0951.4559.4717.72
Cash EPS (Rs.)73.5591.7372.4480.0838.15
Book Value[Excl.RevalReserv]/Share (Rs.)406.69368.19356.45318.33261.98
Book Value[Incl.RevalReserv]/Share (Rs.)406.69368.19356.45318.33261.98
Revenue From Operations / Share (Rs.)324.64367.66293.76247.64172.50
PBDIT / Share (Rs.)91.38101.8077.4770.5047.78
PBIT / Share (Rs.)67.8272.1555.5449.2327.14
PBT / Share (Rs.)66.9771.4855.0181.1726.61
Net Profit / Share (Rs.)49.9962.0850.5058.8117.52
NP After MI And SOA / Share (Rs.)50.9063.0951.4559.4717.72
PBDIT Margin (%)28.1427.6826.3728.4627.69
PBIT Margin (%)20.8919.6218.9019.8815.73
PBT Margin (%)20.6219.4418.7232.7715.42
Net Profit Margin (%)15.3916.8817.1923.7510.15
NP After MI And SOA Margin (%)15.6717.1617.5124.0110.27
Return on Networth / Equity (%)12.5117.1314.4318.686.76
Return on Capital Employeed (%)15.3217.7514.0413.368.98
Return On Assets (%)9.0312.229.9812.624.61
Asset Turnover Ratio (%)0.600.740.590.580.45
Current Ratio (X)1.882.212.102.131.54
Quick Ratio (X)1.802.132.022.061.44
Inventory Turnover Ratio (X)6.8411.269.325.712.56
Dividend Payout Ratio (NP) (%)23.5721.390.005.0456.44
Dividend Payout Ratio (CP) (%)16.1114.550.003.7126.07
Earning Retention Ratio (%)76.4378.610.0094.9643.56
Cash Earning Retention Ratio (%)83.8985.450.0096.2973.93
Interest Coverage Ratio (X)107.21153.50147.29196.8765.27
Interest Coverage Ratio (Post Tax) (X)59.6594.6097.0175.0524.66
Enterprise Value (Cr.)53673.9933189.9027993.2220254.577958.20
EV / Net Operating Revenue (X)19.3910.5911.179.595.41
EV / EBITDA (X)68.8738.2342.3733.6919.53
MarketCap / Net Operating Revenue (X)19.7410.9711.6710.065.63
Retention Ratios (%)76.4278.600.0094.9543.55
Price / BV (X)15.7610.959.627.823.71
Price / Net Operating Revenue (X)19.7410.9711.6710.065.63
EarningsYield0.010.010.010.020.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Linde India Ltd as of December 30, 2024 is: 6,444.19

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 30, 2024, Linde India Ltd is Undervalued by 4.80% compared to the current share price 6,149.00

Intrinsic Value of Linde India Ltd as of December 30, 2024 is: 5,765.24

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 30, 2024, Linde India Ltd is Overvalued by 6.24% compared to the current share price 6,149.00

Last 5 Year EPS CAGR: -10.54%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of -18.92, which is a positive sign.
  2. The stock has a low average Cash Conversion Cycle of -208.33, which is a positive sign.
  3. The company has higher reserves (1,984.08 cr) compared to borrowings (748.38 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (1.46 cr) and profit (201.38 cr) over the years.
  1. The stock has a low average ROCE of 8.83%, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Linde India Ltd:
    1. Net Profit Margin: 15.39%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 15.32% (Industry Average ROCE: 26.88%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 12.51% (Industry Average ROE: 40.15%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 59.65
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.8
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 120 (Industry average Stock P/E: 58.7)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Linde India Ltd. is a Public Limited Listed company incorporated on 24/01/1935 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L40200WB1935PLC008184 and registration number is 008184. Currently Company is involved in the business activities of Construction of utility projects. Company’s Total Operating Revenue is Rs. 2111.96 Cr. and Equity Capital is Rs. 85.28 Cr. for the Year ended 31/12/2021.
INDUSTRYADDRESSCONTACT
Industrial GasesOxygen House, Kolkata West Bengal 700088investor.relations.in@linde.com
http://www.linde.in
Management
NamePosition Held
Mr. Michael J DevineChairman
Mr. Abhijit BanerjeeManaging Director
Mr. Arun BalakrishnanInd. Non-Executive Director
Mr. Jyotin MehtaInd. Non-Executive Director
Ms. Shalini SarinInd. Non-Executive Director
Mr. Mannu SanganeriaNon Executive Director

FAQ

What is the latest intrinsic value of Linde India Ltd?

The latest intrinsic value of Linde India Ltd as on 30 December 2024 is ₹6444.19, which is 4.80% higher than the current market price of ₹6,149.00. The stock has a market capitalization of 52,441 Cr. and recorded a high/low of 9,935/5,320 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹3,463 Cr and total liabilities of ₹4,907 Cr.

What is the Market Cap of Linde India Ltd?

The Market Cap of Linde India Ltd is 52,441 Cr..

What is the current Stock Price of Linde India Ltd as on 30 December 2024?

The current stock price of Linde India Ltd as on 30 December 2024 is 6,149.

What is the High / Low of Linde India Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Linde India Ltd stocks is 9,935/5,320.

What is the Stock P/E of Linde India Ltd?

The Stock P/E of Linde India Ltd is 120.

What is the Book Value of Linde India Ltd?

The Book Value of Linde India Ltd is 416.

What is the Dividend Yield of Linde India Ltd?

The Dividend Yield of Linde India Ltd is 0.07 %.

What is the ROCE of Linde India Ltd?

The ROCE of Linde India Ltd is 17.4 %.

What is the ROE of Linde India Ltd?

The ROE of Linde India Ltd is 12.9 %.

What is the Face Value of Linde India Ltd?

The Face Value of Linde India Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Linde India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE