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 q2cy17 (Jan-Dec year ending). It ended the quarter with a net loss of Rs.2 crore v/s net profit of Rs.1 crore in Q1. Though total revenue rose 14% (YoY) at Rs.535 crore, the increase in costs and exceptional expense of Rs.5 crore did it in.

The gases business grew by 13%, driven by an increase in demand in the steel and automotive segments. The engineering business registered a modest growth of 60%. EBIT was at Rs.46 crore of which the Gases business contributed Rs.34 crore and project engineering business contributed Rs.11 crore.

In June 2017, Linde had received an indirect acquisition of control over Linde India Limited by Zamalight PLC pursuant to the proposed merger of equals between Linde AG (ultimate holding company of Linde India Limited) and Praxair, Inc. The company has clarified that it would be making the open offer in second half of 2018 for this takeover.