Industrial gases major Linde India, formerly known as BOC India, is targeting to double revenue in the next four years, a top official said today.
“We are targeting to double revenue in the next four years for which we are focusing on the three areas of tonnage, cylinder and healthcare businesses,” Moloy Banerjee, Managing Director of Linde India said.
Globally, the Munich-based Linde Group is focusing on healthcare, emerging economies and clean energy, Banerjee said here today.
He said although there is a slowdown in the economy at the moment, Linde India would not halt its investments.
“The company is going to continue its investments in the country as we believe the turnaround will come in the near future,” Banerjee said.
After acquiring UK-based BOC Group in 2006, Linde has committed investments in India worth Rs 2,500 crore till date.
In 2012, the company’s revenue stood at Rs 1,300 crore.
He said in the tonnage business (setting up of air separation units for steel plants and refineries), Linde had been a market leader.
The company was creating a gas pipeline grid for the steel cluster coming up at Kalinganagar in Odisha.
In March 2013, the company had re-branded itself from BOC India to Linde India, he said.
Srikumar Menon, South Asia head of Linde Group said the company had brought down promoter’s holding to 75 per cent as per SEBI rules in June this year by selling shares in the open market after an unsuccessful attempt to delist shares.
Public shareholding in the company was at 11 per cent, Menon said.