Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹119, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 21x in the Commercial Services industry in India. Total loss to shareholders of 33% over the past three years. Reported Earnings • May 27
Full year 2026 earnings released: EPS: ₹5.50 (vs ₹6.40 in FY 2025) Full year 2026 results: EPS: ₹5.50 (down from ₹6.40 in FY 2025). Revenue: ₹5.51b (up 1.4% from FY 2025). Net income: ₹327.4m (down 14% from FY 2025). Profit margin: 5.9% (down from 7.0% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • May 26
Linc Limited Recommends Dividend, Payable on September 4, 2026 Linc Limited announced that at the Board of Directors meeting held on May 26, 2026, Recommendation of Dividend of 30%, INR 1.50 per equity share of INR 5/- each, subject To Approve the members at the upcoming AGM. Further, the dividend on equity shares, if declared by members at the upcoming AGM of the Company will be credited to the members around 4th September, 2026 subject to deduction of TDS. Announcement • May 16
Linc Limited to Report Q4, 2026 Results on May 26, 2026 Linc Limited announced that they will report Q4, 2026 results on May 26, 2026 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹99.80, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 17x in the Commercial Services industry in India. Total loss to shareholders of 29% over the past three years. Reported Earnings • Feb 13
Third quarter 2026 earnings released: EPS: ₹1.15 (vs ₹1.47 in 3Q 2025) Third quarter 2026 results: EPS: ₹1.15 (down from ₹1.47 in 3Q 2025). Revenue: ₹1.29b (up 5.8% from 3Q 2025). Net income: ₹67.7m (down 22% from 3Q 2025). Profit margin: 5.2% (down from 7.1% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 06
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.0% to ₹113. The fair value is estimated to be ₹145, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has grown by 8.3%. Announcement • Jan 30
Linc Limited to Report Q3, 2026 Results on Feb 11, 2026 Linc Limited announced that they will report Q3, 2026 results on Feb 11, 2026 Buy Or Sell Opportunity • Jan 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to ₹106. The fair value is estimated to be ₹135, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has grown by 8.3%. Buy Or Sell Opportunity • Dec 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to ₹110. The fair value is estimated to be ₹137, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has grown by 8.3%. Reported Earnings • Nov 09
Second quarter 2026 earnings released: EPS: ₹1.42 (vs ₹1.48 in 2Q 2025) Second quarter 2026 results: EPS: ₹1.42 (down from ₹1.48 in 2Q 2025). Revenue: ₹1.41b (up 3.0% from 2Q 2025). Net income: ₹84.6m (down 3.7% from 2Q 2025). Profit margin: 6.0% (down from 6.4% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 12% per year. Announcement • Oct 29
Linc Limited to Report Q2, 2026 Results on Nov 08, 2025 Linc Limited announced that they will report Q2, 2026 results at 12:15 PM, Indian Standard Time on Nov 08, 2025 Buy Or Sell Opportunity • Oct 21
Now 20% overvalued Over the last 90 days, the stock has fallen 8.1% to ₹131. The fair value is estimated to be ₹109, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has grown by 19%. Announcement • Sep 24
Linc Limited Approves Dividend for the Year Ended 31 March, 2025 Linc Limited at its AGM held on September 23, 2025, approved to declare dividend of INR 1.50 per Equity Share of face value of INR 5.00 each of the Company for the year ended 31 March, 2025. Upcoming Dividend • Sep 09
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 16 September 2025. Payment date: 23 October 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.3%). Higher than average of industry peers (0.9%). Buy Or Sell Opportunity • Sep 04
Now 23% overvalued Over the last 90 days, the stock has fallen 8.6% to ₹134. The fair value is estimated to be ₹109, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has grown by 19%. Announcement • Aug 26
Linc Limited, Annual General Meeting, Sep 23, 2025 Linc Limited, Annual General Meeting, Sep 23, 2025, at 11:00 Indian Standard Time. Buy Or Sell Opportunity • Aug 19
Now 20% overvalued Over the last 90 days, the stock has fallen 10% to ₹124. The fair value is estimated to be ₹103, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has grown by 16%. Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: ₹1.18 (vs ₹1.42 in 1Q 2025) First quarter 2026 results: EPS: ₹1.18 (down from ₹1.42 in 1Q 2025). Revenue: ₹1.38b (up 6.2% from 1Q 2025). Net income: ₹70.5m (down 16% from 1Q 2025). Profit margin: 5.1% (down from 6.5% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 21% per year. Announcement • Jul 29
Linc Limited to Report Q1, 2026 Results on Aug 06, 2025 Linc Limited announced that they will report Q1, 2026 results on Aug 06, 2025 New Risk • Jul 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.6% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Buy Or Sell Opportunity • Jul 02
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 45% to ₹155. The fair value is estimated to be ₹128, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 27%. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹146, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 23x in the Commercial Services industry in India. Total returns to shareholders of 145% over the past three years. Buy Or Sell Opportunity • May 23
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to ₹152. The fair value is estimated to be ₹127, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 27%. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₹144, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 24x in the Commercial Services industry in India. Total returns to shareholders of 117% over the past three years. New Risk • May 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (₹8.06b market cap, or US$94.5m). Reported Earnings • May 10
Full year 2025 earnings released: EPS: ₹6.40 (vs ₹5.75 in FY 2024) Full year 2025 results: EPS: ₹6.40 (up from ₹5.75 in FY 2024). Revenue: ₹5.48b (up 7.9% from FY 2024). Net income: ₹380.4m (up 11% from FY 2024). Profit margin: 6.9% (up from 6.7% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Apr 28
Linc Limited to Report Q4, 2025 Results on May 07, 2025 Linc Limited announced that they will report Q4, 2025 results on May 07, 2025 Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹116, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 21x in the Commercial Services industry in India. Total returns to shareholders of 67% over the past three years. Reported Earnings • Feb 04
Third quarter 2025 earnings released: EPS: ₹1.47 (vs ₹1.27 in 3Q 2024) Third quarter 2025 results: EPS: ₹1.47 (up from ₹1.27 in 3Q 2024). Revenue: ₹1.24b (flat on 3Q 2024). Net income: ₹87.2m (up 15% from 3Q 2024). Profit margin: 7.1% (up from 6.1% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. New Risk • Jan 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.50b (US$99.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₹8.50b market cap, or US$99.0m). Announcement • Jan 07
Linc Limited to Report Q3, 2025 Results on Feb 03, 2025 Linc Limited announced that they will report Q3, 2025 results on Feb 03, 2025 Reported Earnings • Oct 31
Second quarter 2025 earnings released: EPS: ₹5.91 (vs ₹5.18 in 2Q 2024) Second quarter 2025 results: EPS: ₹5.91 (up from ₹5.18 in 2Q 2024). Revenue: ₹1.37b (up 4.6% from 2Q 2024). Net income: ₹87.9m (up 14% from 2Q 2024). Profit margin: 6.4% (up from 5.9% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 37% per year. Announcement • Oct 15
Linc Limited to Report Q2, 2025 Results on Oct 29, 2024 Linc Limited announced that they will report Q2, 2025 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹721, the stock trades at a trailing P/E ratio of 30.3x. Average trailing P/E is 32x in the Commercial Services industry in India. Total returns to shareholders of 248% over the past three years. Board Change • Sep 02
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Non-Executive Independent Director Mohit Kampani was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 29
Linc Limited Approves Dividend for the Year Ended 31 March, 2024 Linc Limited at its meeting held on 28th August, 2024 approved declare Dividend of INR 5/- per Equity Share of face value of INR 10/- each (50%) of the Company for the year ended 31st March, 2024. Announcement • Aug 28
Linc Limited Announces Cessation of Independent Directors Linc Limited announced that Shri Naresh Pachisia and Shri Anil Kochar Independent Directors of the Company have completed their second and final term as Independent Directors on conclusion of the 30th Annual General Meeting of the Company held on 28th August, 2024. Accordingly, they cease to be Independent Directors of the Company w.e.f. 28th August, 2024. Accordingly, they cease to be Independent Directors of the Company w.e.f. 28th August, 2024. Shri Naresh Pachisia was associated with the Company since inception. Over these nearly three decades, he has been a guiding force. His unwavering commitment to the highest standards of corporate governance has been instrumental in shaping its Company's reputation. He has always encouraged to adopt the best practices, ensuring that the company remain not only compliant but exemplary in its governance. Shri Anil Kochar has served as an Independent Director for 10 years. The profound knowledge of Shri Kochar in the field of direct taxes has been an invaluable asset to its Company. His insights and advice have helped the company to navigate challenges with ease, ensuring that the company remain compliant while optimizing its tax strategies. Upcoming Dividend • Aug 16
Upcoming dividend of ₹5.00 per share Eligible shareholders must have bought the stock before 21 August 2024. Payment date: 27 September 2024. Payout ratio is a comfortable 21% and the cash payout ratio is 75%. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.6%). Reported Earnings • Aug 05
Full year 2024 earnings released: EPS: ₹23.00 (vs ₹25.15 in FY 2023) Full year 2024 results: EPS: ₹23.00 (down from ₹25.15 in FY 2023). Revenue: ₹5.08b (up 4.3% from FY 2023). Net income: ₹342.1m (down 8.5% from FY 2023). Profit margin: 6.7% (down from 7.7% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 02
Dividend of ₹5.00 announced Shareholders will receive a dividend of ₹5.00. Ex-date: 21st August 2024 Payment date: 27th September 2024 Dividend yield will be 0.8%, which is higher than the industry average of 0.6%. Sustainability & Growth Dividend is covered by both earnings (22% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 46% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 31
Linc Limited, Annual General Meeting, Aug 28, 2024 Linc Limited, Annual General Meeting, Aug 28, 2024, at 11:00 Indian Standard Time. Announcement • Jul 30
Linc Limited to Report Q1, 2025 Results on Aug 12, 2024 Linc Limited announced that they will report Q1, 2025 results on Aug 12, 2024 Announcement • Jul 26
Linc Limited Appoints Mohit Kampani as Independent Director Linc Limited approved the Appointment of Shri Mohit Kampani (DIN: 06418444) as Non-Executive, Independent Director of the Company. Recent Insider Transactions • Jun 26
MD & Chairman recently bought ₹3.0m worth of stock On the 21st of June, Deepak Jalan bought around 5k shares on-market at roughly ₹600 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Deepak has been a buyer over the last 12 months, purchasing a net total of ₹13m worth in shares. Recent Insider Transactions • Jun 08
MD & Chairman recently bought ₹2.7m worth of stock On the 4th of June, Deepak Jalan bought around 5k shares on-market at roughly ₹547 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Deepak has been a buyer over the last 12 months, purchasing a net total of ₹13m worth in shares. New Risk • May 31
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.33b (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₹8.33b market cap, or US$99.8m). Announcement • May 10
Linc Limited Announces Resignation of Kaushik Raha as Company Secretary Linc Limited announced the resignation of Mr. Kaushik Raha from the office of Company Secretary w.e.f. 5th January, 2024 for his personal reasons. Announcement • Apr 28
Linc Limited to Report Q4, 2024 Results on May 02, 2024 Linc Limited announced that they will report Q4, 2024 results on May 02, 2024 Recent Insider Transactions • Mar 08
Insider recently bought ₹1.1m worth of stock On the 5th of March, Divya Jalan bought around 2k shares on-market at roughly ₹553 per share. This transaction amounted to 9.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹32m more in shares than they have sold in the last 12 months. New Risk • Feb 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹7.89b (US$95.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₹7.89b market cap, or US$95.1m). Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: ₹5.09 (vs ₹7.49 in 3Q 2023) Third quarter 2024 results: EPS: ₹5.09 (down from ₹7.49 in 3Q 2023). Revenue: ₹1.25b (flat on 3Q 2023). Net income: ₹75.6m (down 32% from 3Q 2023). Profit margin: 6.1% (down from 8.9% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Announcement • Feb 09
Linc Limited Appoints Dipankar De as Company Secretary and Compliance Officer Linc Limited announced that as recommended by Nomination and Remuneration Committee, the Board of Directors of the Company at its meeting held on February 8, 2024 approved the appointment of Mr. Dipankar De as Company Secretary and Compliance Officer of the Company. Age 46 Years. He is a science graduate from Calcutta University and Associate Member of the Institute of Company Secretaries of India (ICSI). He has more than 13 years of working experience. Announcement • Jan 25
Linc Limited to Report Nine Months, 2024 Results on Feb 08, 2024 Linc Limited announced that they will report nine months, 2024 results on Feb 08, 2024 Announcement • Dec 19
Linc Limited Announces Resignation of Mr. Kaushik Raha as Company Secretary, with Effect from 5Th January, 2024 Linc Limited announced the resignation of Mr. Kaushik Raha from the office of Company Secretary with effect from 5th January, 2024 for his personal reasons. Recent Insider Transactions • Nov 10
MD & Chairman recently bought ₹2.5m worth of stock On the 7th of November, Deepak Jalan bought around 4k shares on-market at roughly ₹700 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹2.8m. Deepak has been a buyer over the last 12 months, purchasing a net total of ₹38m worth in shares. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹690, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 33x in the Commercial Services industry in India. Total returns to shareholders of 353% over the past three years. Reported Earnings • Nov 03
Second quarter 2024 earnings released: EPS: ₹5.18 (vs ₹6.42 in 2Q 2023) Second quarter 2024 results: EPS: ₹5.18 (down from ₹6.42 in 2Q 2023). Revenue: ₹1.33b (up 4.9% from 2Q 2023). Net income: ₹77.1m (down 19% from 2Q 2023). Profit margin: 5.8% (down from 7.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 67% per year, which means it is significantly lagging earnings growth. Announcement • Oct 18
Linc Limited to Report Q2, 2024 Results on Nov 02, 2023 Linc Limited announced that they will report Q2, 2024 results on Nov 02, 2023 Upcoming Dividend • Aug 14
Upcoming dividend of ₹5.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 21 August 2023. Payment date: 27 September 2023. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.4%). In line with average of industry peers (0.9%). Announcement • Aug 03
Linc Limited, Annual General Meeting, Aug 28, 2023 Linc Limited, Annual General Meeting, Aug 28, 2023, at 11:00 Indian Standard Time. Agenda: To consider and adopt the Audited Financial Statements for the year ended 31st March, 2023 together with the reports of the Auditors and Directors; to declare Dividend of INR 5/- per Equity Share of face value of INR 10/- each (50%) of the Company for the year ended 31st March, 2023; to appoint Shri Aloke Jalan (DIN: 00758762), as a Director, who retires by rotation and being eligible offers himself for re-appointment; and to consider other matters. Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: ₹4.97 (vs ₹2.95 in 1Q 2023) First quarter 2024 results: EPS: ₹4.97 (up from ₹2.95 in 1Q 2023). Revenue: ₹1.13b (up 16% from 1Q 2023). Net income: ₹73.9m (up 69% from 1Q 2023). Profit margin: 6.5% (up from 4.5% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 64% per year, which means it is significantly lagging earnings growth. Announcement • Jul 25
Linc Limited to Report Q1, 2024 Results on Jul 31, 2023 Linc Limited announced that they will report Q1, 2024 results on Jul 31, 2023 New Risk • Jul 02
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₹11m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (₹11m sold). Recent Insider Transactions • May 22
MD & Chairman recently bought ₹5.3m worth of stock On the 19th of May, Deepak Jalan bought around 8k shares on-market at roughly ₹713 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹11m. Deepak has been a buyer over the last 12 months, purchasing a net total of ₹42m worth in shares. Announcement • May 13
Linc Limited Recommends Dividend for Year Ended 31 March, 2023 Linc Limited at Board Meeting on 12th May, 2023 the company approved the Recommendation of Dividend of INR 5 per equity share, (50% on equity shares) subject To Approve the members at the ensuing AGM. Further, the dividend on equity shares, if declared by members at the ensuing AGM of the Company will be credited to the members around 15th September, 2023 subject to deduction of TDS. Announcement • May 06
Linc Limited to Report Q4, 2023 Results on May 12, 2023 Linc Limited announced that they will report Q4, 2023 results at 12:15 PM, Indian Standard Time on May 12, 2023 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹593, the stock trades at a trailing P/E ratio of 31.4x. Average trailing P/E is 22x in the Commercial Services industry in India. Total returns to shareholders of 335% over the past three years. Recent Insider Transactions • Mar 30
MD & Chairman recently bought ₹11m worth of stock On the 28th of March, Deepak Jalan bought around 23k shares on-market at roughly ₹488 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Deepak has been a buyer over the last 12 months, purchasing a net total of ₹39m worth in shares. Recent Insider Transactions • Mar 17
MD & Chairman recently bought ₹2.5m worth of stock On the 14th of March, Deepak Jalan bought around 5k shares on-market at roughly ₹502 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹6.8m. Deepak has been a buyer over the last 12 months, purchasing a net total of ₹28m worth in shares. Recent Insider Transactions • Feb 08
MD & Chairman recently bought ₹2.5m worth of stock On the 6th of February, Deepak Jalan bought around 5k shares on-market at roughly ₹490 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹3.5m. Deepak has been a buyer over the last 12 months, purchasing a net total of ₹13m worth in shares. Reported Earnings • Feb 05
Third quarter 2023 earnings released: EPS: ₹7.49 (vs ₹1.87 in 3Q 2022) Third quarter 2023 results: EPS: ₹7.49 (up from ₹1.87 in 3Q 2022). Revenue: ₹1.25b (up 31% from 3Q 2022). Net income: ₹111.3m (up 300% from 3Q 2022). Profit margin: 8.9% (up from 2.9% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year and the company’s share price has also increased by 27% per year. Announcement • Jan 22
Linc Limited to Report Q3, 2023 Results on Feb 03, 2023 Linc Limited announced that they will report Q3, 2023 results on Feb 03, 2023 Recent Insider Transactions • Dec 27
MD & Chairman recently bought ₹1.8m worth of stock On the 23rd of December, Deepak Jalan bought around 5k shares on-market at roughly ₹360 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹3.5m. Deepak has been a buyer over the last 12 months, purchasing a net total of ₹13m worth in shares. Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹356, the stock trades at a trailing P/E ratio of 26.9x. Average trailing P/E is 22x in the Commercial Services industry in India. Total returns to shareholders of 86% over the past three years. Upcoming Dividend • Aug 19
Upcoming dividend of ₹1.80 per share Eligible shareholders must have bought the stock before 26 August 2022. Payment date: 05 October 2022. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.7%). In line with average of industry peers (0.5%). Reported Earnings • Aug 13
Full year 2022 earnings released Full year 2022 results: Revenue: ₹3.55b (up 38% from FY 2021). Net income: ₹81.3m (up ₹80.9m from FY 2021). Profit margin: 2.3% (up from 0% in FY 2021). The increase in margin was driven by higher revenue. Reported Earnings • Jun 03
Full year 2022 earnings released: EPS: ₹5.47 (vs ₹0.026 in FY 2021) Full year 2022 results: EPS: ₹5.47 (up from ₹0.026 in FY 2021). Revenue: ₹3.58b (up 39% from FY 2021). Net income: ₹81.3m (up ₹80.9m from FY 2021). Profit margin: 2.3% (up from 0% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Recent Insider Transactions • Feb 25
Insider recently sold ₹12m worth of stock On the 21st of February, Raghav Jalan sold around 40k shares on-market at roughly ₹310 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹46m more than they bought in the last 12 months. Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹1.87 (up from ₹0.86 loss in 3Q 2021). Revenue: ₹953.3m (up 34% from 3Q 2021). Net income: ₹27.9m (up ₹40.7m from 3Q 2021). Profit margin: 2.9% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Recent Insider Transactions • Dec 31
Insider recently sold ₹9.4m worth of stock On the 28th of December, Raghav Jalan sold around 41k shares on-market at roughly ₹230 per share. In the last 3 months, they made an even bigger sale worth ₹10m. Insiders have been net sellers, collectively disposing of ₹32m more than they bought in the last 12 months. Recent Insider Transactions • Dec 11
Insider recently sold ₹2.5m worth of stock On the 9th of December, Raghav Jalan sold around 11k shares on-market at roughly ₹226 per share. In the last 3 months, they made an even bigger sale worth ₹10m. Insiders have been net sellers, collectively disposing of ₹18m more than they bought in the last 12 months. Recent Insider Transactions • Dec 03
Insider recently sold ₹5.9m worth of stock On the 30th of November, Raghav Jalan sold around 27k shares on-market at roughly ₹220 per share. In the last 3 months, they made an even bigger sale worth ₹10m. Insiders have been net sellers, collectively disposing of ₹16m more than they bought in the last 12 months. Recent Insider Transactions • Nov 18
Insider recently sold ₹10m worth of stock On the 15th of November, Raghav Jalan sold around 40k shares on-market at roughly ₹250 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. 
