Linde India Limited has released its Business Responsibility and Sustainability Report for the financial year 2025-26, disclosing zero fatalities and high consequence work-related injuries for the period. The company reported that renewable energy sources accounted for 12.70% of its total energy consumption, an increase from 7.59% in the previous financial year. The report, which forms part of the Annual Report 2025-26, was submitted to the stock exchanges on July 20, 2026.

The company’s operations, which include 24 plants, 2 warehouses, 5 offices, and 4 guest houses, were assessed for health and safety practices with 100% coverage as per ISO 45001:2018 standards. Linde India stated that it did not identify any sites as designated consumers under the government’s Perform, Achieve and Trade (PAT) Scheme, though it maintains internal targets for reducing specific power consumption.

Environmental Performance

Linde India reported total Scope 1 emissions of 15,597.57 metric tonnes of CO2 equivalent and total Scope 2 emissions of 1,144,957.07 metric tonnes of CO2 equivalent for FY 2025-26. The combined emission intensity per million rupee of turnover adjusted for Purchasing Power Parity (PPP) stood at 946.55, a decrease from 1,109.89 in the previous year.

Water withdrawal totalled 4,422.86 kilolitres, while water discharged amounted to 3,727.66 kilolitres. The company noted that some of its sites have achieved Zero Liquid Discharge (ZLD), including Taloja, while new merchant Air Separation Units at Selaqui, Dahej, Sricity, and Ludhiana are equipped with wastewater treatment plants.

Social and Governance Metrics

The company reported a total workforce of 1,696 employees and 723 workers as of the end of the financial year. Women comprised 33.33% of the Board of Directors. The gross wages paid to females as a percentage of total wages paid by the entity was 7.47%.

Linde India disclosed that it spent on measures towards the well-being of employees and workers, covering expenses such as health insurance, accidental insurance, life insurance, parental leaves, and medical expenses. The company confirmed that there were no complaints filed under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, during the year.

Key Sustainability Indicators

Price Waterhouse & Co Chartered Accountants LLP provided reasonable assurance on the identified sustainability information included in the report. The assurance engagement was conducted in accordance with the Standard on Sustainability Assurance Engagements (SSAE) 3000 and the Standard on Assurance Engagements (SAE) 3410 issued by the Sustainability Reporting Standards Board of the ICAI.

Bernstein analyst James Hooper has maintained an Outperform rating on Linde and raised the price target to $599 from $561. The adjustment reflects an updated valuation outlook for the company.

The rating upgrade comes as the firm assesses Linde's current market position and future performance potential.