Mumbai, India – 7 February 2014: Linde India Limited, a member of The Linde Group, announced its audited financial results for the year ended 31 December 2013, which were approved by the Company’s Board of Directors at its meeting held earlier today.
Gross sales turnover was Rs 15,032 million in 2013, an increase of 7 percent as against Rs 14,003 million in 2012. The company reported operating profit of Rs 1,408 million for FY2013, a strong 50 percent increase over its 2012 operating profit of Rs 941 million due to the full year impact of large tonnage contracts, optimisation of costs and portfolio mix in particular in respect to specialty gases and healthcare. Profit before tax and exceptional items was Rs 663 million (Rs 536 million in 2012), an increase of 24 percent despite higher financing cost of new plants.
The Gases business recorded a strong sales growth of 14 percent in 2013 over the previous year due to commissioning of new plants. The turnover of its Project Engineering Division for the year was lower by 9 percent compared to 2012 due to reduction of new projects in hand.
For Q4 of 2013, Linde India reported a gross turnover of Rs 4,632 million as compared to Rs 3,515 million achieved in the corresponding quarter of 2012. The Gases business achieved a sales growth of 15 percent over Q4 2012. The Project Engineering Division recorded higher sales by 89 percent compared to the same quarter of the previous year due to phasing of project revenues.
Commenting on the performance for FY2013, Mr Moloy Banerjee, Managing Director, Linde India, said, “Our financial performance during FY2013 continued to maintain a healthy uptrend over the quarters. Although industrial production was relatively weaker in 2013 and did not support volume growth for gases, our focus on improvements in operational efficiency and cost optimisation enabled us to successfully achieve improvement in profitability. With the completion of our two new 853 tons per day air separation plants at Rourkela, we expect revenues and profitability to further grow in the coming year.”
The Board of Directors recommended a dividend of 15 percent (Rs 1.50 per share of Rs 10 each) for the year 2013.
About Linde India Limited:
Linde India Limited, formerly known as BOC India Limited, is the leader in gases business in India since 1935, providing a one-stop solution to all businesses for gas supply and related equipment and services. We manufacture cryogenic and non-cryogenic vessels and also design and commission projects. The company has excelled through successfully blending local innovation and adaptation with international expertise from The Linde Group. Be it for food processing, medical, domestic or industrial use, Linde India provides tailor-made solutions for its customers, conforming to the strictest international standards of production and safety.
For more information, see Linde India online at www.linde.in
About The Linde Group:
The Linde Group is a world-leading gases and engineering company with around 63,000 employees in more than 100 countries worldwide. In the 2012 financial year, Linde generated revenue of EUR 15.28 bn. The strategy of the Group is geared towards long-term profitable growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment – in every one of its business areas, regions and locations across the globe. The company is committed to technologies and products that unite the goals of customer value and sustainable development.
For more information, see The Linde Group online at www.linde.com