### **Overview** Linde India Limited, a key subsidiary of **Linde plc** (formed in 2018 through the merger of Linde AG and Praxair, Inc.), is one of India’s leading industrial gas companies. With operations spanning over 28 Indian states and serving 7 international markets, Linde India plays a pivotal role in the country's industrial, healthcare, and engineering ecosystems. As part of the global Linde group — which reported **$33 billion in revenue and $8.6 billion in operating profit in 2024** — Linde India leverages world-class technology, engineering expertise, and a robust domestic footprint to serve diverse sectors. --- ### **Business Segments** Linde India operates under two primary business segments, aligned with the global Linde model: #### 1. **Gases, Related Products & Services** This segment constitutes the core of Linde India’s operations and includes the production and supply of industrial, medical, and specialty gases through three delivery models: - **Onsite (Pipeline Gases):** Long-term Build-Own-Operate (BOO) supply agreements with large-scale industries such as steel, glass, chemicals, and refineries. Linde operates **over 20 ASUs on a BOO basis** and is the preferred partner for major clients like Tata Steel, SAIL, IOCL, and Shell. - **Bulk (Liquefied Gases):** Delivered via cryogenic tankers to medium-scale industries. In FY2024, bulk loading reached **1,713 tonnes per day (tpd)**, driven by demand from semiconductors, chemicals, and manufacturing. - **Packaged Gases:** Compressed gases in cylinders for smaller applications in fabrication, construction, FMCG, and food & beverage. Linde supplies **over 2 million cubic meters of compressed gas monthly** through more than **150,000 cylinders** nationwide. #### 2. **Project Engineering Division (PED)** A strategic differentiator, PED offers end-to-end engineering solutions for: - Design, supply, installation, and commissioning of **medium to large-tonnage Air Separation Units (ASUs), Nitrogen Plants, PSA/VPSA systems**, and gas distribution networks. - Manufacturing of **cryogenic vessels, distillation columns, cold boxes, and vaporizers** at its **U-stamp certified facility in Kolkata**. - Turnkey projects for **steel, oil & gas, petrochemicals, electronics, and advanced research** organizations including DRDO, BARC, and IPR. PED has established itself as a leader in the Indian market, holding the **largest market share in ASU installations**, and maintains a strong order book reflecting future visibility. --- ### **Strategic Highlights (2024–2025)** #### **Expansion & Investment** - Commissioned **2 ASUs, 2 nitrogen plants, 2 augmentation projects, 3 nitrogen reducing stations, and 4 pipeline systems** in FY2024–25. - Signed a long-term gas supply contract with **Asian Paints (Polymers) Private Limited** to install a new **245 TPD liquid oxygen + 100 TPD gaseous oxygen ASU** in **Dahej, Gujarat**, reinforcing its presence in a key industrial cluster. - Expanded the **on-site ASU capacity at Kalinganagar, Odisha**, through a partnership with **Tata Steel**, by de-captivating two additional units. - Earlier investments included new ASUs at **Dahej and Ludhiana (500 TPD combined)** and major plants for **ESL Steel (Bokaro) and Jindal Stainless (Kalinganagar)**, adding ~2,200 TPD capacity. #### **Healthcare Initiatives** - Strengthened medical gas offerings beyond oxygen: - Promoting **ENTONOX®** (nitrous oxide + oxygen) for pain management in childbirth and procedures; over **130 training programs** conducted. - Introduced **NOxBOXi®**, a nitric oxide delivery system for organ transplants and neonatal respiratory distress. - Expanding access in Tier II/III cities via **PSA oxygen plants** in Gorakhpur, Krishnanagar, and Bagnan. - Supplied **liquid medical oxygen** to government hospitals in Bihar, Andhra Pradesh, Uttar Pradesh, and Maharashtra; deployed **~400 LIV cylinders** to extend hospital coverage. #### **Renewable Energy & Sustainability** - Sources **98 million units of renewable energy annually** via long-term agreements. - **19 million units** sourced via Inter-State Transmission System (ISTS) for Dahej and Rourkela. - Renewable integration completed at **SriCity and Selaqui** facilities. - Strategic investments in **Avaada MHYavat, FP Solar Shakti, and FPEL Surya Pvt. Ltd.** (26% stake for ₹76.95 million) to secure captive renewable power, reduce energy costs, and improve sustainability. #### **Digital Transformation in Logistics** - The **Deliver team** has invested in digitalization across: - Route planning, driver training, centralized monitoring, maintenance, and communication. - Enhanced **operational efficiency, safety, and productivity** in both bulk and packaged gas logistics. --- ### **Geographic Presence & Infrastructure** - Operates **26+ production and filling plants** across India, including: - **India’s largest ASU (5 x 5,250 TPD)** at **Jamnagar (Reliance)**. - One of the largest ASUs in **Jamshedpur**. - Pan-India distribution network with strategic **cylinder bottling units** and a dedicated fleet of **cryogenic bulk tankers**. - Presence in **28 Indian states** and exports to **7 international countries** (Bangladesh, Malaysia, Indonesia, etc.), though exports represent only **1.97% of total turnover**, indicating a strong domestic focus. - Engineering centers in **Baroda (~1,500+ professionals)**, **Kolkata**, and **Bangalore**, supporting R&D, design, and project execution. --- ### **Market Position & Competitive Strengths** - **Market Leadership:** - Largest industrial gas provider in India by **revenue and number of installations**. - Maintains the **most extensive direct sales and distribution network** in the country. - Preferred partner for **leading steel, refinery, chemical, and pharma companies**. - **Product Portfolio:** - Broadest range of **industrial, medical, and specialty gases** including high-purity oxygen, nitrogen, argon, helium, krypton, xenon, CO₂, and electronic gases. - Special focus on **high-margin specialty gases** (e.g., ophthalmic mixes, 300 Bar Helium filling at Taloja). - **Growth Drivers:** - Rising demand from **steel, specialty chemicals (argon), electronics (semiconductors), and renewable energy (solar)**. - Expansion of **PSA-based medical oxygen infrastructure**. - Outsourcing trend toward **BOO business models** in capital-intensive industries. --- ### **Financial & Order Book Metrics (FY2024–2025)** - **Project Engineering Division (PED) Order Book:** - **INR 20,207.21 million** as of March 31, 2025 — up from INR 20,003.90 million in FY2023–24. - Third-party & intercompany orders: **INR 7,044.67 million**. - In-house project orders: **INR 3,370.88 million**. - PED secured major projects: - 149 TPD ASU for **Kirloskar Ferro Industries**. - VPSA system for **Amara Raja**. - 1,000 TPD ASU for **RSP**, nitrous oxide plant (Telangana), and plants for **IOCL Panipat and EMMVEE Solar**. --- ### **Key Contacts & Locations** - **Headquarters & Engineering Hubs:** Baroda, Kolkata, Bangalore. - **Workshops & Manufacturing:** Expanded **Jamshedpur workshop (operational since Mar 2024)** for cryogenic vessel production — secured **39 vessel orders (7 dispatched by Mar 2025)**. - **Workforce:** Over **2,500 professionals** in India. ---