Overview

Detailed Summary

Linc Limited manufactures and markets writing instruments and stationery products across India and internationally, owning brands such as LINC, pentonic, Swype, MORRIS®, uni (Mitsubishi Pencil) and deli, supported by two main manufacturing units plus a subsidiary unit and a wide distributor network covering SE Asia, Middle East, Europe, Americas and Africa.
Q3 FY26 reported operating income of ₹12,929 lakhs (up 5.8% YoY) while Operating EBITDA fell 11.7% to ₹1,290 lakhs and PAT declined 22.3% to ₹677 lakhs; margin compression reflects a one-time rise in employee benefit expense and JV losses, yet Linc Limited still reports negative net debt (net cash ₹1,014 lakhs) and remains profitable.
The company is pursuing international expansion and premiumisation through multiple JVs (including Mitsubishi Pencil Co.), new subsidiaries (Kenya, Linc On) and a delayed Bengal manufacturing facility scheduled for Q1 FY27 — signaling a deliberate shift to higher-margin products and greater export penetration for Linc Limited.
Product innovation and category expansion are active with multiple launches (Pentonic Twist Crayons, brush pens, fineliners, mechanical pencils and markers) and participation in global expos; Linc Limited plans to step up brand spend toward ~3% of revenue to accelerate premium portfolio adoption and distribution reach.
Linc Limited emphasises shareholder value with steady dividend history, strong NCOA and a sustained reduction in net debt/operating EBITDA from historic peaks; capex commitments are expected to be funded mainly through internal cash generation, supporting medium-term growth without leverage strain.

Sector: Household Products
Industry: Stationary
Market Cap: 584 Cr
Volatility: High Risk
P/E Ratio: 17.8
Industry P/E: 28.3
PEG Ratio: 0.6
P/B Ratio: 2.3
52W High: 158.95
52W Low: 85.00

Sales CAGR

1Y: 7.27%
3Y: 14.40%
5Y: 6.01%
10Y: 4.88%

Profit CAGR

1Y: 10.44%
3Y: 68.14%
5Y: 14.97%
10Y: 8.65%

ROE

TTM: 12.70%
3Y: 17.95%
5Y: 13.28%
10Y: 12.50%

ROCE

TTM: 18.52%
3Y: 22.66%
5Y: 16.92%
10Y: 16.79%

Technicals

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Forecasts

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Peers

Fast Moving Consumer Goods Fast Moving Consumer Goods Household Products Stationary

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
DOMS		2090.15	12,685 Cr	55.11	10.40	0.17	18.87	24.38	13.99
FLAIR		290.00	3,056 Cr	21.86	2.68	0.17	12.24	15.91	10.34
KOKUYOCMLN		83.20	833 Cr	33.60	2.59	0.00	7.70	10.15	5.30
LINC		98.63	585 Cr	17.87	2.27	1.52	12.70	18.52	10.21
SUNDARAM		1.37	65 Cr	20.42	0.72	0.00	3.05	3.85	2.75
ALKOSIGN		56.14	61 Cr	-12.73	2.15	0.00	4.47	4.94	-10.58
GGPL		1.58	9 Cr	-1.21	0.28	0.00	-22.96	-3.17	-8.61
Median: 7 Co.	—	83.20	585 Cr	20.42	2.27	0.00	7.70	10.15	5.30

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	124	141	130	137	122	154	137	139	129	138
Expenses	110	124	116	121	108	135	124	123	116	120
Operating Profit	14	17	14	16	15	19	13	16	13	18
OPM %	11.24	11.90	10.95	11.87	11.95	12.50	9.59	11.27	9.98	12.91
Other Income	0.71	3.27	1.34	0.00	1.38	1.98	1.21	2.29	2.22	2.57
Interest	0.66	0.73	0.69	0.72	0.76	0.77	0.74	0.74	0.78	0.91
Depreciation	3.74	3.71	3.77	3.78	3.80	3.59	3.72	3.78	3.87	3.73
Profit Before Tax	10	16	11	12	11	17	9.89	13	10	16
Tax %	25.49	25.10	24.80	25.17	24.58	27.88	25.48	24.78	25.98	27.18
Net Profit	7.62	12	8.37	8.83	8.63	12	7.37	10	7.75	11
EPS in Rs	1.27	1.94	1.42	1.48	1.47	2.04	1.18	1.42	1.15	1.76

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025	TTM
Sales	508	543	550
Expenses	451	479	487
Operating Profit	56	64	63
OPM %	11.11	11.85	11.50
Other Income	7.26	4.70	NaN
Interest	2.57	2.94	2.99
Depreciation	15	15	15
Profit Before Tax	46	51	50
Tax %	25.44	25.84	25.99
Net Profit	34	38	37
EPS in Rs	—	6.41	5.51
Dividend Payout %	21.74	23.44	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025
Equity Capital	15	30
Reserves	190	205
Borrowings	26	27
Other Liabilities	79	80
Total Liabilities	310	341
Fixed Assets	115	113
CWIP	9.05	15
Investments	0.22	9.81
Other Assets	186	203
Total Assets	310	341

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025
Cash from Operating Activity	38	57
Cash from Investing Activity	-20	-35
Cash from Financing Activity	-11	-11
Net Cash Flow	6.96	10

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	59.28%	59.28%	59.44%	59.46%	59.50%	59.43%	59.43%	61.02%	61.02%	61.02%	61.02%	61.02%
FIIs	0.94%	1.43%	1.42%	1.27%	1.04%	1.10%	1.17%	1.07%	0.94%	0.92%	0.92%	0.84%
DIIs	0.00%	0.38%	0.38%	0.38%	0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	39.78%	38.91%	38.77%	38.89%	39.09%	39.47%	39.40%	37.91%	38.03%	38.06%	38.06%	38.14%
Total Shareholders	7,522	8,390	9,694	10,873	11,280	11,479	18,741	19,311	19,654	19,018	18,571	18,082

Market Transactions

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Projection

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q4 FY26

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Available on Pro Plan