Linde India Q2 FY27 Results: Consolidated Net Profit ₹119 Crore on Total Income of ₹730 Crore
- Earnings
- Industrial gases and engineering
Reviewed byKeshav SehgalBlacklitt Research
Linde India (NSE: LINDEINDIA) reported consolidated total income of ₹730.07 crore and consolidated net profit of ₹118.81 crore for the quarter ended 30 Sep 2026, it said in a filing on 03 Nov 2026. Standalone total income was the same ₹730.07 crore, with standalone net profit of ₹114.95 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹730.07 crore, up 12.7% YoY and 4.3% QoQ
- Net profit and EPS: ₹118.81 crore, down 30.5% YoY and up 13.6% QoQ; basic EPS ₹13.93
- Finance costs: ₹15.81 crore against ₹3.15 crore a year earlier
Standalone
The company on its own, without its subsidiaries
- Total income: ₹730.07 crore, up 12.7% YoY and 4.3% QoQ
- Net profit and EPS: ₹114.95 crore, down 32.0% YoY and up 11.6% QoQ; basic EPS ₹13.48
- Other income: ₹6.87 crore, up 94.5% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 730.07 | 647.72 | +12.7% | 700.19 | +4.3% | |
| Revenue from operations | 723.20 | 644.19 | +12.3% | 694.36 | +4.2% |
| Other income | 6.87 | 3.53 | +94.5% | 5.83 | +17.8% |
| 118.81 | 171.00 | -30.5% | 104.59 | +13.6% | |
| Profit before tax | 159.04 | 228.28 | -30.3% | 139.68 | +13.9% |
| Finance costs | 15.81 | 3.15 | +402.4% | 5.94 | +166.1% |
| Depreciation | 67.45 | 56.41 | +19.6% | 62.41 | +8.1% |
| Tax expense | 40.23 | 57.28 | -29.8% | 35.09 | +14.6% |
| Net profit margin | 16.27% | 26.40% | -10.13 pp | 14.94% | +1.34 pp |
| EPS, basic (₹) | 13.93 | 20.05 | -30.5% | 12.26 | +13.6% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit fell 30.5% YoY while total income rose 12.7%. Depreciation rose 19.6% and finance costs rose from ₹3.15 crore to ₹15.81 crore, a 402.4% increase. Finance costs are now 2.2% of total income, against a much smaller share a year earlier.
Other income of ₹6.87 crore is 4.3% of profit before tax of ₹159.04 crore, and tax of ₹40.23 crore is 25.3% of that profit before tax. The notes do not give a reason for the rise in finance costs.
Consolidated results include a share of profit of ₹3.86 crore from two joint ventures for the quarter, which the auditor notes have not been reviewed by their auditors.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 730.07 | 647.72 | +12.7% | 700.26 | +4.3% | |
| Revenue from operations | 723.20 | 644.19 | +12.3% | 694.36 | +4.2% |
| Other income | 6.87 | 3.53 | +94.5% | 5.90 | +16.5% |
| 114.95 | 169.01 | -32.0% | 103.03 | +11.6% | |
| Profit before tax | 155.18 | 226.29 | -31.4% | 138.12 | +12.4% |
| Finance costs | 15.81 | 3.15 | +402.4% | 5.94 | +166.1% |
| Depreciation | 67.45 | 56.41 | +19.6% | 62.41 | +8.1% |
| Tax expense | 40.23 | 57.28 | -29.8% | 35.09 | +14.6% |
| Net profit margin | 15.75% | 26.09% | -10.35 pp | 14.71% | +1.03 pp |
| EPS, basic (₹) | 13.48 | 19.82 | -32.0% | 12.08 | +11.6% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit fell 32.0% YoY, more than profit before tax, which fell 31.4%. Revenue from operations rose 12.3%, while other income rose 94.5% from a small base of ₹3.53 crore.
Standalone tax of ₹40.23 crore is 25.9% of profit before tax of ₹155.18 crore. Consolidated net profit of ₹118.81 crore is ₹3.86 crore higher than standalone, the gap being the joint venture share.
Inference
The filing says the Board approved the unaudited results on 3 Nov 2026, and that the company has entered share subscription, shareholders and power purchase agreements with three special purpose vehicles to buy renewable energy.
The auditor's review carries an emphasis on related party transactions and on SEBI valuation directions, and says the probable consequences on the results are presently not determinable. Management says it cannot estimate the impact of the Valuation Report because the matter is sub-judice. The outcome of the Supreme Court appeal, listed for 6 Nov 2026, is not stated.
Filed with BSE on . Reference: Original filing (PDF)
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