Linde India

Linde India (formerly known as BOC India) is an industrial gases manufacturer, based in India since 1935. The company also manufactures cryogenic and non-cryogenic vessels and also designs and commissions projects.

The company posted a very disappointing set of numbers for Q1FY17, ending the quarter with a net loss of Rs.2.5 crore v/s profit of Rs.4 crore in previous Q1 and Rs.8 crore in Q4Fy16. With the commissioning of the new air separation units in Kalinganagar, the full depreciation charge and financing cost were recorded during the quarter, which resulted in a loss. Thanks to the deferred tax write back of Rs.8 crore, the loss has come down to that extent.

The net revenue for the quarter was at Rs.428 crore, up 15% (yoY). The gases business grew by 16%, driven by an increase in demand in the steel and automotive segments. The engineering business registered a modest growth of 4%. The operating profit for the quarter stood at Rs. 77 crore, up 13%, of which the Gases business contributed Rs.68 crore, an increase of 14%. The engineering business contributed Rs.9 crore to the operating profits, up 9%.

The company is setting up a facility in Andhra Pradesh that will provide liquid nitrogen at -196ºC to freeze shrimps, which will help food associations and exporters. The company is also said to be interested in setting up a further plant, a lab, and an academy that will train the personnel required for supporting food processing.