Company · Analysis · 29 Oct 2026
Linde Bangladesh: a debt-free gases business earning BDT 23 a share after the welding exit; energy costs cut Q3 2026 profit 19%
Revenue rose 12.1% in H1 2026 and the operating margin reached 21.8%, but EPS fell from BDT 80.55 (2021) to 22.60 (2025) once the welding business went to ESAB; the stock trades at 27.1x trailing earnings and 2.9x book.
Linde Bangladesh Limited (LBL) makes and supplies industrial and medical gases: liquid oxygen, nitrogen, argon and carbon dioxide in bulk, compressed gases in cylinders, and medical oxygen with hospital pipelines and equipment. It is 60% owned by The BOC Group Limited, part of Linde plc.…