Linde India makes industrial gases (oxygen, nitrogen, argon, hydrogen and carbon dioxide) and the cylinder, bulk and on-site supply systems that deliver them to steel, healthcare, electronics and chemicals customers, and it is the Indian arm of the global Linde group. The structural case rests on long-term supply contracts and on-site plants that sit inside customers' facilities, which makes switching costly and gives the business high gross margins of 58.5%. Revenue growth of 21.6% is the number to test, since the growth driver is industrial and healthcare demand expansion in India rather than any single new product. At a trailing P/E of 92.1 and a forward P/E of 68.6, the market is already pricing in a sustained earnings ramp, so the question for a deeper look is whether a 19.9% operating margin can keep widening toward that expectation. ROE is not available in the data, which leaves capital efficiency unverified and should be checked before any conclusion.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 01:52 CEST | ACCE price target | ₹4730 | first publication | ₹5901 |
Answered from Linde India Limited fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| LINDEINDIA.NS Linde India Limited | ₹5723.50 | - | - | 89.3x | - | 89 | 44 |
| FLUOROCHEM.NS Gujarat Fluorochemicals Limited | ₹4303.90 | - | - | 76.1x | - | 81 | 66 |
| 4183.T Mitsui Chemicals, Inc. | ¥2056.00 | - | - | 11.5x | 8.0% | 47 | 64 |
| BERGEPAINT.NS Berger Paints India Limited | ₹469.95 | - | - | 44.7x | - | 76 | 52 |
| 4182.T Mitsubishi Gas Chemical Company, Inc. | ¥3539.00 | - | - | - | -3.4% | 40 | 62 |
| 4203.T Sumitomo Bakelite Company Limited | ¥7788.00 | - | - | 21.7x | - | 71 | 75 |
| 4403.T NOF Corporation | ¥2822.00 | - | - | 16.5x | 13.8% | 75 | 62 |
Where LINDEINDIA.NS ranks against its sector peers on each metric.