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The contract includes setting-up of Air Separation Unit (ASU) on a site licensed by IOCL within its Panipat Refinery Complex for production and supply of instrument air, plant air and cryogenic nitrogen to IOCL Panipat Refinery Expansion Project (P25).
On completion of the construction and the performance test of the aforesaid ASU, Linde India will enter into requisite Agreements with IOCL for operating and maintaining the facility for a period of 20 years from the first delivery date. Linde India expects to fund the capital expenditure by its own funds/internal accruals.
Linde India is a 75% subsidiary of The BOC Group Ltd, UK (wholly owned subsidiary of Linde AG and part of the Linde group), is one of the largest players in the domestic gases business. The Linde group is the world's leading supplier of industrial, process, and specialty gases, with operations across 100 countries.
On consolidated net profit declined 41.9% to Rs 99.88 crore in Q1 FY24 as compared with Rs 171.88 crore in Q1 FY23. Net sales jumped 22.6% year on year to Rs 721.01 crore in Q1 FY24 over Q1 FY23.
The stock hit all time high at Rs 6,164.65 in intraday today.
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