The board has approved a capital expenditure of Rs 138.6 crore towards the construction of the new air separation plant, which will be set up at the company's existing Dahej site, where the 110 tonnes per day air separation unit is in operation.

The new 250 tonnes per day air separation unit is expected to be commissioned by the end of October 2023.

Linde India is in the industrial gases business, providing a one-stop solution to all businesses for gas supply and related equipment and services. It manufactures cryogenic and non-cryogenic vessels and also design and commission projects.

On a consolidated basis, the company's net profit soared 677% to Rs 303.24 crore in Q1 March 2021 from Rs 39.03 crore in Q1 March 2020. Net sales during the quarter increased by 17% year-on-year (YoY) to Rs 441.42 crore.

The scrip advanced 0.62% to end at Rs 2624.60 on the BSE.