Jaipur, India – 17 February, 2015: Linde India Limited, a member of The Linde Group, announces its audited financial results for the quarter and year ended 31 December 2014 which was approved by the Company’s Board of Directors at its meeting held earlier today.
For Q4 2014, the Company reported a gross turnover of Rs 4,357 million, a decrease of 6 percent compared against Rs 4,632 million recorded in the same quarter last year. The gases business recorded a growth of 26 percent; while the engineering business recorded a net of inter-segment revenue of 68 percent lower as compared to the same quarter last year due to fewer new projects.
The Company recorded an operating profit of Rs 947 million, an increase of 19 percent as compared to Rs. 795 million for the same quarter in 2013. The Company recorded a net profit of Rs 65 million after taxes compared to Rs 555 million in same quarter last year. The decrease was mainly due to exceptional item of land sale in last quarter and higher depreciation of the newly capitalised plants in current quarter.
For full year 2014, the Company reported a gross turnover of Rs 15,943 million, an increase of 6 percent as compared against Rs 15,032 million recorded in last year. The gases business recorded a significant growth of 22 percent; while the engineering business recorded a decline in revenue by 46 percent compared to last year.
The Company recorded an operating profit of Rs 2,878 million, which is an increase of 7 percent as compared to Rs. 2,698 million in 2013. The Company recorded a net profit of Rs 54 million after taxes compared to Rs 773 million 2013. The decrease was mainly due to an exceptional item of a land sale and higher depreciation and interest for newly commissioned plants in the year 2014.
The Board of Directors of Linde India have recommended a dividend of 15% (Rs 1.50 per share) on the equity shares of Rs. 10 each, for the year ended 31st December 2014, subject to the approval of the shareholders in the Annual General Meeting.
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
In the 2013 financial year, The Linde Group generated revenue of EUR 16.655 bn, making it the largest gases and engineering company in the world with approximately 63,500 employees working in more than 100 countries worldwide. The strategy of The Linde 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