Integrated Filing — IndAS



General information about company
Scrip Code 523457
NSE Symbol LINDEINDIA
MSEI Symbol NOTLISTED
ISIN INE473A01011
Name of company LINDE INDIA LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 23-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 16-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 23-May-2025   14:00:00
End date and time of board meeting 23-May-2025   16:00:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Unaudited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 5918750000 24853760000
Other income 129630000 678390000
Total income 6048380000 25532150000
2 Expenses
(a) Cost of materials consumed 502130000 2397200000
(b) Purchases of stock-in-trade 830050000 3384540000
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade -177280000 -113970000
(d) Employee benefit expense 138560000 538680000
(e) Finance costs 65480000 126280000
(f) Depreciation, depletion and amortisation expense 555020000 2138300000
(f) Other Expenses
1 Power and fuel 1258310000 5228920000
2 Other expenses 1268380000 5767480000
Total other expenses 2526690000 10996400000
Total expenses 4440650000 19467430000
3 Total profit before exceptional items and tax 1607730000 6064720000
4 Exceptional items 0 0
5 Total profit before tax 1607730000 6064720000
6 Tax expense
7 Current tax 471180000 1838900000
8 Deferred tax -42470000 -252310000
9 Total tax expenses 428710000 1586590000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations 1179020000 4478130000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 5100000 70320000
16 Total profit (loss) for period 1184120000 4548450000
17 Other comprehensive income net of taxes 3840000 -15000000
18 Total Comprehensive Income for the period 1187960000 4533450000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 0 0
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0 0
21 Details of equity share capital
Paid-up equity share capital 852840000 852840000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 37346600000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 13.88 53.33
Diluted earnings (loss) per share from continuing operations 13.88 53.33
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 13.88 53.33
Diluted earnings (loss) per share from continuing and discontinued operations 13.88 53.33
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results
Textual Information(1) Due to constraint on number of characters and special character in Notes to financial results the note numbers i to v have been excluded here and you may please refer to the pdf filing made to the Stock Exchanges on 23 May 2025 for complete notes



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 19055100000
Capital work-in-progress 9752500000
Investment property
Goodwill 89340000
Other intangible assets 107520000
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 575880000
Trade receivables, non-current
Loans, non-current 0
Other non-current financial assets 226540000
Total non-current financial assets 802420000
Deferred tax assets (net)
Other non-current assets 11677690000
Total non-current assets 41484570000
2 Current assets
Inventories 1066440000
Current financial asset
Current investments 0
Trade receivables, current 3848580000
Cash and cash equivalents 1453710000
Bank balance other than cash and cash equivalents 13360000
Loans, current 0
Other current financial assets 142030000
Total current financial assets 5457680000
Current tax assets (net)
Other current assets 3249800000
Total current assets 9773920000
3 Non-current assets classified as held for sale 168950000
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 51427440000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 852840000
Other equity 37346600000
Total equity attributable to owners of parent 38199440000
Non controlling interest
Total equity 38199440000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
Total Trade payable
Other non-current financial liabilities 404150000
Total non-current financial liabilities 404150000
Provisions, non-current 739590000
Deferred tax liabilities (net) 1438340000
Deferred government grants, Non-current
Other non-current liabilities 381410000
Total non-current liabilities 2963490000
Current liabilities
Current financial liabilities
Borrowings, current 0
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 657160000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 4759810000
Total Trade payable 5416970000
Other current financial liabilities 2073840000
Total current financial liabilities 7490810000
Other current liabilities 2185570000
Provisions, current 502620000
Current tax liabilities (Net) 85510000
Deferred government grants, Current
Total current liabilities 10264510000
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 13228000000
Total equity and liabilites 51427440000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Unaudited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Gases, related products and services 5159140000 20407370000
2 Project engineering 2710100000 11052040000
3 Share of profit/(loss) from joint venture 0 0
Total Segment Revenue 7869240000 31459410000
Less: Inter segment revenue 1950490000 1950490000
Revenue from operations 5918750000 24853760000
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Gases, related products and services 1518300000 5251810000
2 Project engineering 192080000 995970000
3 Share of profit/(loss) from joint venture 5100000 70320000
Total Profit before tax 1715480000 6318100000
i. Finance cost 65480000 65480000
ii. Other Unallocable Expenditure net off Unallocable income 37170000 37170000
Profit before tax 1612830000 6135040000
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Gases, related products and services 43923310000 43923310000
2 Project engineering 3402430000 3402430000
3 Share of profit/(loss) from joint venture 0 0
Total Segment Asset 47325740000 47325740000
Un-allocable Assets 4101700000 4101700000
Net Segment Asset 51427440000 51427440000
4 Segment Liabilities
Segment Liabilities
1 Gases, related products and services 5502640000 5502640000
2 Project engineering 3704220000 3704220000
3 Share of profit/(loss) from joint venture 0 0
Total Segment Liabilities 9206860000 9206860000
Un-allocable Liabilities 4021140000 4021140000
Net Segment Liabilities 13228000000 13228000000
Disclosure of notes on segments Textual Information(2)



Text Block
Textual Information(2) The Primary segment for the Company is the business segment and it has two such segments which are as follows n nGases and related products & services: Comprises manufacture and sale of industrial, medical and special gases as well as related products and services. n nProject Engineering: Comprises sale of cryogenic and non cryogenic air separation plants and projects. n nBalance as at 31 March 2025 include assets classified as Assets held for sale amounting to Rs 168.95 million. n nThe above note has been modified in view of the constraint imposed by NSE on special characters



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Unaudited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement gain/losses on defined benefit plans 2030000 -20280000
2 Fair value of changes of investments in equity shares 160000 230000
Total Amount of items that will not be reclassified to profit and loss 2190000 -20050000
2 Income tax relating to items that will not be reclassified to profit or loss -1650000 -5050000
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0 0
5 Total Other comprehensive income 3840000 -15000000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 6064720000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 126280000
Adjustments for decrease (increase) in inventories -216020000
Adjustments for decrease (increase) in trade receivables, current 830020000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets 0
Adjustments for decrease (increase) in other non-current assets 658530000
Adjustments for other financial assets, non-current -65960000
Adjustments for other financial assets, current 0
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current -883450000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities -503910000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 2138300000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 0
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 16510000
Adjustments for interest income 545090000
Adjustments for share-based payments 25120000
Adjustments for fair value losses (gains) 0
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items 118650000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) 1665960000
Net cash flows from (used in) operations 7730680000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 1894730000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 5835950000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 78570000
Purchase of property, plant and equipment 13305240000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 16510000
Interest received 563310000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) investing activities -12646850000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 401760000
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 0
Repayments of borrowings 0
Payments of lease liabilities 36770000
Dividends paid 1020210000
Interest paid 35960000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -28850000
Net cash flows from (used in) financing activities -1523550000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -8334450000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents -8334450000
Cash and cash equivalents cash flow statement at beginning of period 9788160000
Cash and cash equivalents cash flow statement at end of period 1453710000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Price Waterhouse and Co Chartered Accountants LLP Yes 30-Nov-2026


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 25532150000 25532150000
2 Total Expenditure 19467430000 19467430000
3 Net Profit/(Loss) 4548450000 4548450000
4 Earnings Per Share 53.33 53.33
5 Total Assets 51427440000 51427440000
6 Total Liabilities 13228000000 13228000000
7 Net Worth 38199440000 38199440000


Audit qualification
Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Repetitive Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)


Text Block
Textual Information(1) We draw attention to Note iii to the consolidated financial results which explains the managements assessment of related party transactions with reference to the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations 2015 as amended. Management has applied the materiality threshold of 10 percent or more of the annual consolidated turnover of the Company to the value of each contract with a related party consisting of individual or multiple transactions and not by aggregating the value of all contracts with each related party to evaluate whether it has breached the materiality threshold and therefore would require shareholders approval as per SEBI LODR. SEBI in its Order dated July 24 2024 the SEBI Order has concluded that the materiality threshold has to be applied on an aggregate basis considering all the transaction during the financial year with a related party. The Parent Company had filed an appeal on August 05 2024 against the aforementioned SEBI Order before the Securities Appellate Tribunal which is pending disposal. In view of ongoing regulatory and legal proceedings the probable consequences and related implications on the consolidated financial results are presently not determinable. n nThe above note has been modified in view of the constraint imposed by NSE on special characters
Textual Information(2) Not Applicable as impact has not been quantified
Textual Information(3) Not ascertainable
Textual Information(4) Management is not in a position to estimate the impact given that the appeal is pending at Securities Appellate Tribunal and the matter is currently sub judice
Textual Information(5) We draw attention to Note iii to the consolidated financial results which explains the managements assessment of related party transactions with reference to the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations 2015 as amended. Management has applied the materiality threshold of 10 percent or more of the annual consolidated turnover of the Company to the value of each contract with a related party consisting of individual or multiple transactions and not by aggregating the value of all contracts with each related party to evaluate whether it has breached the materiality threshold and therefore would require shareholders approval as per SEBI LODR. SEBI in its Order dated July 24 2024 the SEBI Order has concluded that the materiality threshold has to be applied on an aggregate basis considering all the transaction during the financial year with a related party. The Parent Company had filed an appeal on August 05 2024 against the aforementioned SEBI Order before the Securities Appellate Tribunal which is pending disposal. In view of ongoing regulatory and legal proceedings the probable consequences and related implications on the consolidated financial results are presently not determinable. n nThe above note has been modified in view of the constraint imposed by NSE on special characters


Signatories detail
Name of CEO / Managing director Abhijit Banerjee
Name of CFO Neeraj Kumar Jumrani
Name of audit committee chairman Subba Rao Amarthaluru
Name of statutory auditor Price Waterhouse and Co Chartered Accountants LLP
Name of other signatory, if any, with designation
Place Bengaluru
Date 23-May-2025