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Linde India Q3 FY26 results: net profit up 66.2% to ₹193.32 crore, revenue up 15.7%
Linde India Limited reported Q3 FY26 consolidated revenue of ₹701.03 crore, up 15.7% from a year ago, and net profit of ₹193.32 crore against ₹116.32 crore in Q3 FY25. EBITDA rose to ₹256.86 crore from ₹192.15 crore, with margin at 36.6%, while basic EPS increased to ₹22.67 from ₹13.64. On a standalone basis, revenue was ₹701.03 crore and profit for the period was ₹191.59 crore.
Key points
- Consolidated Q3 FY26 revenue was ₹701.03 crore, up 15.7% from ₹605.86 crore in Q3 FY25.
- Net profit was ₹193.32 crore against ₹116.32 crore in the year-ago quarter, a rise of 66.2%.
- EBITDA rose to ₹256.86 crore from ₹192.15 crore, with margin at 36.6% against 31.7%.
- Basic EPS increased to ₹22.67 from ₹13.64 in Q3 FY25.
- For 9M FY26, revenue was ₹1916.31 crore and profit for the period was ₹471.52 crore against ₹336.43 crore in 9M FY25.
How did Linde India perform in Q3 FY26?
Linde India reported consolidated revenue of ₹701.03 crore for Q3 FY26, up 15.7% from ₹605.86 crore in Q3 FY25. Against the previous quarter, revenue rose 8.8% from ₹644.19 crore. Total income for the quarter was ₹705.48 crore, against ₹625.17 crore a year ago and ₹647.72 crore in Q2 FY26.
EBITDA was ₹256.86 crore in Q3 FY26, up from ₹192.15 crore in the year-ago quarter but lower than ₹282.32 crore in Q2 FY26. The EBITDA margin was 36.6%, compared with 31.7% in Q3 FY25 and 43.8% in the previous quarter.
Profit before tax was ₹194.08 crore against ₹154.66 crore a year ago and ₹226.29 crore in Q2 FY26. Net profit was ₹193.32 crore, up from ₹116.32 crore in Q3 FY25 and ₹171 crore in Q2 FY26. Basic EPS was ₹22.67, against ₹13.64 in the year-ago quarter and ₹20.05 in the previous quarter.
On a standalone basis, revenue was ₹701.03 crore and profit for the period was ₹191.59 crore, against ₹113.99 crore in the year-ago period.
| ₹ crore | Q3 FY26 | Q2 FY26 | Q3 FY25 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 701.03 | 644.19 | 605.86 | +15.7% | +8.8% |
| Other income | 4.44 | 3.53 | 19.32 | −77.0% | +25.8% |
| Total expenses | 511.39 | 421.43 | 470.52 | +8.7% | +21.3% |
| EBITDA | 256.86 | 282.32 | 192.15 | +33.7% | −9.0% |
| EBITDA margin | 36.6% | 43.8% | 31.7% | +4.9 pp | −7.2 pp |
| Profit before tax | 194.08 | 226.29 | 154.66 | +25.5% | −14.2% |
| Tax | 51.51 | 57.28 | 40.67 | +26.7% | −10.1% |
| Net profit | 193.32 | 171 | 116.32 | +66.2% | +13.1% |
| EPS (₹) | 22.67 | 20.05 | 13.64 | +66.2% | +13.1% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Linde India's costs and profit?
Total expenses rose to ₹511.39 crore in Q3 FY26 from ₹470.52 crore in Q3 FY25, an increase of ₹40.87 crore. Cost of materials consumed was ₹85 crore, up ₹30.76 crore, while employee benefit expense rose ₹7.34 crore to ₹17.68 crore. Finance costs increased ₹3.93 crore to ₹5.54 crore and depreciation and amortisation rose ₹6.48 crore to ₹61.68 crore.
Other expenses fell to ₹266.71 crore from ₹270.96 crore in the year-ago quarter, a decrease of ₹4.25 crore. Other income declined to ₹4.44 crore from ₹19.32 crore, ₹14.88 crore lower. There was no exceptional item in either quarter.
Tax expense was ₹51.51 crore in Q3 FY26, up ₹10.84 crore from ₹40.67 crore in Q3 FY25. The company reported these cost and income changes alongside higher revenue, EBITDA and profit, but the filings do not state reasons for the movements.
| ₹ crore | Q3 FY26 | Q3 FY25 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 85 | 54.24 | +30.76 | +56.7% |
| Employee cost | 17.68 | 10.34 | +7.34 | +71.0% |
| Finance costs | 5.54 | 1.61 | +3.93 | +244.1% |
| Depreciation | 61.68 | 55.20 | +6.48 | +11.7% |
| Other expenses | 266.71 | 270.96 | −4.25 | −1.6% |
| Total expenses | 511.39 | 470.52 | +40.87 | +8.7% |
| Other income | 4.44 | 19.32 | −14.88 | −77.0% |
| Tax | 51.51 | 40.67 | +10.84 | +26.7% |
Source: Company's results filing (XBRL).
How did the first nine months of FY26 go?
For the first nine months of FY26, consolidated revenue was ₹1916.31 crore, up 1.2% from ₹1893.5 crore in 9M FY25. Total income for the period was ₹1928.62 crore, against ₹1948.38 crore in the year-ago period.
Profit before tax rose to ₹562.59 crore from ₹445.7 crore in 9M FY25, an increase of 26.2%. Profit for the period was ₹471.52 crore against ₹336.43 crore, up 40.2%, while basic EPS increased to ₹55.29 from ₹39.45.
| ₹ crore | 9M FY26 | 9M FY25 | Change |
|---|---|---|---|
| Revenue from operations | 1,916 | 1,894 | +1.2% |
| Profit before tax | 562.59 | 445.70 | +26.2% |
| Net profit | 471.52 | 336.43 | +40.2% |
| EPS (₹) | 55.29 | 39.45 | +40.2% |
Source: Company's results filing (XBRL).
How has Linde India done over the last 8 quarters?
Revenue reached its highest level of the reported series in Q3 FY26 at ₹701.03 crore, while the lowest was ₹571.08 crore in Q1 FY26. Profit for the period also peaked in Q3 FY26 at ₹193.32 crore, against a low of ₹107.19 crore in Q1 FY26.
EBITDA margin reached its peak at 43.8% in Q2 FY26 and its low of 28.2% in Q1 FY25 and Q2 FY25. The margin was 36.6% in Q3 FY26, down from the previous quarter but above the 31.7% recorded in Q3 FY25. Revenue and profit each rose year on year in each of the last two quarters.
Which businesses drove the quarter?
The Gases, related products and services segment reported revenue of ₹544.3 crore in Q3 FY26, up 7.0% from ₹508.45 crore in the year-ago quarter. Segment EBIT was ₹165.37 crore, against ₹127.52 crore, with an EBIT margin of 30.4%.
The Project engineering segment reported revenue of ₹278.24 crore, up 5.8% from ₹262.96 crore in Q3 FY25. Segment EBIT rose to ₹54.98 crore from ₹36.23 crore, with an EBIT margin of 19.8%.
The share of profit from the joint venture was ₹50.76 crore in the quarter. The filings list no revenue against this line.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Gases, related products & services | 544.30 | +7.0% | 165.37 | 30.4% |
| Gases, related products & services | 544.30 | +7.0% | 165.37 | 30.4% |
| Project engineering | 278.24 | +5.8% | 54.98 | 19.8% |
| Project engineering | 278.24 | +5.8% | 54.98 | 19.8% |
| Share of profit/(loss) from Joint venture | 0 | 50.76 | ||
| Share of profit/(loss) from Joint venture | 0 | 50.76 |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the third quarter and nine months ended 31 December 2025 on 9 February 2026, along with the limited review report of Price Waterhouse & Co. Chartered Accountants LLP. The company said it would upload the results on its website and publish an extract in newspapers as required under Regulation 47 of the SEBI Listing Regulations.
The board also approved the appointment of Ajay Kumar Sah as Interim Chief Financial Officer with effect from 16 February 2026, following the resignation of Neeraj Kumar Jumrani, who was to step down as CFO at close of business hours on 15 February 2026. Sah is Head of Finance for ASEAN and South Asia and had joined the company in 2006.
How did Linde India shares react?
The result was filed after market hours. From the price when the filing appeared, the stock fell 1.5% after five minutes, was down 0.1% after 15 minutes and fell 0.5% after 30 minutes. On the reaction day, it closed 4.2% above its pre-results close of ₹6280.00.
Past results-day moves were mixed. The stock was up 0.4% on 6 November 2025, fell 2.9% on 7 August 2025, rose 7.2% on 23 May 2025 and fell 2.8% on 7 February 2025. Earlier, it fell 1.7% on 7 November 2024, rose 0.4% on 6 August 2024 and rose 1.5% on 28 May 2024.
| After the filing | Stock | Industrial Gases median |
|---|---|---|
| 5 minutes | −1.5% | |
| 15 minutes | −0.1% | |
| 30 minutes | −0.5% | |
| Reaction day | +4.2% | +0.5% |
| Next day | +3.0% | −1.5% |
| 5 days | +8.6% | −11.3% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 6 November 2025 | +0.4% |
| 7 August 2025 | −2.9% |
| 23 May 2025 | +7.2% |
| 7 February 2025 | −2.8% |
| 7 November 2024 | −1.7% |
| 6 August 2024 | +0.4% |
| 28 May 2024 | +1.5% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Linde India's revenue in Q3 FY26?
Revenue from operations was ₹701.03 crore, up 15.7% from ₹605.86 crore in Q3 FY25 (consolidated).
Did Linde India make a profit in Q3 FY26?
Yes. Net profit was ₹193.32 crore, against a net profit of ₹116.32 crore in Q3 FY25.
What was Linde India's EPS in Q3 FY26?
Basic earnings per share were ₹22.67, against ₹13.64 in Q3 FY25.
How did Linde India shares react to the Q3 FY26 results?
On the reaction day the stock moved +4.2% from the previous close; the median Industrial Gases stock moved +0.5%.
When did Linde India announce its Q3 FY26 results?
On 9 February 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Approval Of The Unaudited Standalone And Consolidated Financial Results For The Third Quarter And Nine Months Ended 31St December 2025 (BSE, 2 February 2026) · PDF
- Outcome of Board Meeting (NSE, 9 February 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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