Linde India reports Q2 gross turnover of Rs. 3.5 bn

Linde India Limited, a member of The Linde Group, announced its unaudited financial results for the quarter ended June 30, 2013.
For Q2 2013, the company reported a gross turnover of Rs. 3,496 million, a decrease of 4 per cent as against Rs. 3,627 million recorded in the same quarter last year. The gases business recorded a growth of 20 per cent. However, the turnover of the engineering business net of inter-segment revenue was lower by 49 per cent compared to same quarter last year. In the quarter, the company’s overall EBITDA grew by 6 per cent to Rs. 587 million, while EBITDA for the gases business rose by 20 per cent.
Profit before interest and exceptional items fell by 22 per cent from Rs. 336 million in Q2 2012 to Rs. 263 million in the current quarter. The reduction was mainly due to the increase in depreciation for newly capitalised assets. Net profit for the quarter stood at Rs. 59 million as against Rs. 203 million in Q2 2013, due to higher depreciation and additional finance cost for newly capitalised assets and working capital.
Linde India also announced that as part of its planned leadership succession, Moloy Banerjee has been appointed as the Managing Director of the company and a member of its Board of Directors, effective July 30 2013. Mr Banerjee succeeds Srikumar Menon, who stepped down as Managing Director and from the Board of Directors at the close of business on July 29, 2013. Mr Menon will continue as Linde Group’s Managing Director for South Asia, responsible for its businesses in India, Bangladesh and Sri Lanka.
Kalyani Forge is also known as an organisation that has evolved through continuous innovation and technology tie-ups. In 2011, it has successfully implemented a partnership with Zenotech, Japan, to increase its cold forging expertise. The company has constantly innovated in hot, warm and cold forging technology more than 30 years.The company has, through years of in-house research activities, achieved marked improvements in design and production technology to specialise in manufacture of a variety of intricate profile forgings such as connecting rods, crank shafts, shifter forks, under brackets, valve rocker arms, rotor claws, tulips, shafts, and kidney gears which find application in several industries.

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