Linde India Share Price Target 2026, 2027, 2028, 2029, 2030
- Market Cap
- ₹61,033 Cr
- Book Value
- ₹496
- Stock P/E
- 110.9
- Dividend Yield
- 0.06%
- ROE
- 13.7%
- ROCE
- 18.2%
- PEG Ratio
- 3.70
- EV/EBITDA
- 62.5
Fundamentals from Screener.in, as of 5 Aug 2026. Live price via Yahoo Finance.
Technical snapshot
EOD ·Linde India Ltd closed at ₹6,702.50 on 19 August 2026, down 0.3% on the day, 4.2% below its 50-day average, 16.7% below its 52-week high, with volume at 0.28× its 20-session average.
- RSI 14
- 40.2
- vs 50-day SMA
- -4.2%
- vs 200-day SMA
- +0.4%
- From 52-week high
- -16.7%
- Relative volume
- 0.28×
- 20-day return
- -2.0%
End-of-day prices from exchange-published files (NSE/BSE bhavcopy), updated after market close. Descriptive statistics, not investment advice.
Linde India share price today
Linde India (NSE: LINDEINDIA) runs one of the finest business models on the exchange: industrial gases. Build an air-separation unit inside a steel plant, sign a 15–20 year take-or-pay contract, pipe oxygen and nitrogen across the fence, and collect annuity revenue whether the customer runs full or not. Add merchant liquid gases and packaged cylinders, and you have duopoly economics (with INOX Air Products) in a market where gas is ~2% of a customer’s cost but 100% of their uptime.
Linde is one of India’s finest businesses at one of its silliest prices. At 110.9× earnings for low-double-digit current growth, the moat is admirable, but the bill is difficult to justify.
Why gases compound — and why price still matters
Gas contracts embed inflation escalators and volume floors; density of plants creates strong local positions because liquid gas travels only about 200 km economically; and industrial capex adds demand. Parent technology can support the listed company’s projects, but investors should verify how opportunities are allocated among Indian affiliates. The scenarios below test whether 35.9% operating margins can outrun a 111× starting multiple.
Watch-items: steel-sector capex (the anchor demand), merchant gas pricing cycles, related-party structures with the parent’s unlisted Indian ventures (a recurring minority-shareholder topic), and multiple compression — the largest single risk here.
The numbers
Financial snapshot — 5 August 2026
| Metric | Value |
|---|---|
| Market cap | ₹61,033 Cr |
| P/E (TTM) | 110.9 |
| EV/EBITDA | 62.5 |
| Operating margin | 35.9% |
| ROE / ROCE | 13.7% / 18.2% |
| Debt to equity | 0.02 |
| Sales CAGR (5y) | 11.5% |
| Profit CAGR (5y) | 30.0% |
| Promoter holding | 75.0% |
| EPS (TTM) | ₹64.51 |
Linde India share price target 2026 to 2030
EPS base ₹64.51 (TTM). Bear: growth stays single-digit and the multiple halves — 8% growth at 55×. Base: steel capex revives project wins — 14% growth at 75×. Bull: hydrogen-era projects land — 20% growth at 95×.
From ₹7,157, the base case is ≈ +30% over four and a half years — thin pay for a five-year hold. The bear case is −27%, and it assumes nothing going wrong with the business, only a lower multiple. That is the central investment problem at this starting valuation.
Reasons to own Linde India (at the right price)
- Take-or-pay annuities: contracted revenue with inflation escalators, decades long.
- Duopoly structure — density economics keep third players regional at best.
- 36% operating margins and near-zero debt fund growth internally.
- Every industrial capex cycle in India buys more gas — steel, electronics, healthcare.
- Parent technology (including hydrogen) provides the next decade’s project pipeline.
The risks: at 111×, multiple compression can erase years of business progress; growth is currently GDP-plus, not hyper; and parent-affiliate project allocation deserves ongoing minority scrutiny.
What to weigh at the current price
At 110.9× earnings, Linde’s take-or-pay moat is not the question; the price paid for it is. Contracted growth, merchant-gas pricing and minority-shareholder treatment must deliver unusually clean outcomes to support that multiple.
FAQ
What is the Linde India share price target for 2030? The table above presents bear, base and bull paths through 2030. Each depends on the stated EPS-growth and valuation assumptions; none is a guaranteed outcome.
Why is Linde India valued at 111× earnings? Limited float, long contracts and scarcity value help explain the premium, but none prevents multiple compression if growth disappoints.
What is a take-or-pay contract? The customer commits to minimum gas volumes under the contract, improving revenue visibility for Linde while supporting reliable supply. The protection still depends on contract terms and customer credit.
When are Linde India’s next results? Check the results calendar and confirm the announced date in the exchange filing.
This article is research and education, not personalised investment advice. We are not SEBI-registered advisers. Price targets are scenario arithmetic, not promises. Do your own research and consult a registered adviser before acting.