Linde India Q3 Profit Soars 66% on Strong Revenue Growth

Introduction to Linde India's Q3 Performance

Linde India Limited announced a robust financial performance for the third quarter of fiscal year 2026, ending December 31, 2025. The company reported a significant 66.2% year-on-year increase in consolidated net profit, underscoring strong operational efficiency and sustained demand for its products. The results, approved by the Board of Directors on February 9, 2026, reflect healthy growth in both revenue and profitability, leading to a positive reaction from the market.

Detailed Quarterly Financials

For the December quarter, Linde India's consolidated net profit surged to ₹193.3 crore, a substantial increase from the ₹116.3 crore recorded in the same period of the previous year. This growth was supported by a solid top-line performance. Revenue from operations for the quarter rose by 15.7% year-on-year, reaching ₹701.0 crore compared to ₹605.8 crore a year ago. The company's total income for the quarter stood at ₹705.4 crore, demonstrating consistent business momentum.

Margin Expansion and Operational Efficiency

A key highlight of the quarter was the sharp improvement in operating performance. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew by 33.7% year-on-year to ₹257.3 crore from ₹192.5 crore. This strong growth in operating profit led to a significant expansion in the EBITDA margin, which improved by 490 basis points to 36.7% from 31.8% in the corresponding quarter last year. This improvement is attributed to better operating leverage and effective cost management strategies.

A Closer Look at Expenses

While revenue grew, the company also managed its cost structure effectively. Total expenses for the quarter were ₹511.4 crore, up from ₹470.5 crore in the prior year. A breakdown of costs reveals that the cost of materials consumed increased to ₹85.0 crore from ₹54.2 crore. In contrast, purchases of stock-in-trade saw a slight decline to ₹77.7 crore. Employee benefit expenses rose to ₹176.8 crore, and finance costs increased to ₹55.4 crore from ₹16.1 crore year-on-year.

Segment-Wise Revenue Breakdown

Linde India's performance was driven by its two primary business segments: Gases & Related Products and Project Engineering. Both segments contributed positively to the overall results, with the gases division showing particularly strong demand.

Key Drivers of Growth

The company's impressive performance was fueled by high demand for industrial and medical gases across key sectors, particularly the metals industry, which continued its growth trajectory. Management highlighted that strong pricing discipline across its merchant and packaged business, coupled with sustained growth in healthcare volumes, were instrumental in driving revenue. Furthermore, ongoing productivity initiatives helped improve operational efficiency and support margin enhancement.

Performance Over Nine Months

For the nine-month period ending December 31, 2025, Linde India reported a consolidated net profit of ₹471.5 crore, a significant increase from ₹336.4 crore in the same period last year. Revenue from operations for this period stood at ₹1,916.3 crore, showing a slight increase from ₹1,893.5 crore year-on-year, indicating a strong acceleration in performance during the third quarter.

Management Update: CFO Resignation

In a separate announcement, Linde India informed the exchanges that Neeraj Kumar Jumrani has resigned from his position as Chief Financial Officer. His resignation will be effective from February 15, 2026. The company has not yet announced a successor for the role.

Market Response and Stock Performance

Investors responded positively to the strong quarterly earnings report. Following the announcement, shares of Linde India Limited ended the trading day 3.5% higher at ₹6,280 on the National Stock Exchange (NSE), reflecting market confidence in the company's performance and outlook.

About Linde India

Linde India Limited is a subsidiary of the global industrial gases and engineering giant, Linde plc. With a history in India dating back to 1935, the company is a leading supplier of gases and related products and services. It operates over 35 production facilities across the country, including India's largest air separation plant, serving a diverse range of industries from steel and healthcare to manufacturing and electronics.

Conclusion

Linde India's third-quarter results for FY26 demonstrate a period of strong growth, characterized by a significant jump in profitability and expanding margins. The performance was underpinned by robust demand and disciplined operational management. While the departure of the CFO marks a key corporate change, the company's solid financial health and positive market reception position it well for the future.