Linde India Limited has submitted to the Exchange, updates on outcome of Board Meeting held on 7 August 2025
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Linde India's Board, at its meeting on 7 August 2025, approved the unaudited standalone and consolidated financial results for Q1 FY2026. Standalone revenue from operations fell to Rs 5,710.8 million, down about 12.6% from Rs 6,532.3 million in Q1 FY2025. Standalone profit before tax came in at Rs 1,422.2 million (vs Rs 1,496.9 million), with profit for the period at Rs 1,050.7 million (vs Rs 1,115.4 million). Consolidated profit for the period was Rs 1,071.9 million, including a Rs 21.2 million share of profit from a joint venture. Standalone EPS stood at Rs 12.32. Statutory auditors Price Waterhouse & Co have issued a limited review report containing Emphasis of Matter paragraphs drawing attention to ongoing SEBI proceedings on related party transactions and the valuation exercise related to the business allocation arrangement with Praxair India (PIPL). The company's appeal against the SEBI Order dated 24 July 2024 remains pending before the Securities Appellate Tribunal.
Q1 revenue declined year-on-year, though margins held up relatively well, keeping absolute profits broadly steady. The bigger overhang for shareholders is the continuing SEBI investigation and pending valuation of the PIPL business allocation, which the auditor has flagged as having an indeterminate impact on the financials.