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LINC - Linc

📊 NSE: LINC 🏢 Printing & Stationery 📅 Last Updated: 12/14/2025 9:17

📢 Recent Corporate Announcements

Linc Limited Q3 FY26: Revenue Up 5.8% to ₹129.3 Cr, PAT Margins Contract to 5.2%

🔵 WATCH ⭐ 7/10

EARNINGS 📅 16 Feb 2026, 02:51 PM

Linc Limited reported a modest 5.8% YoY revenue growth to ₹129.29 crores for Q3 FY26, though PAT margins contracted by 191 bps to 5.2%. Operating EBITDA margins stood at 10%, impacted by a one-time labor regulation expense; excluding this, adjusted margins were 10.7%. While volumes grew to 16.4 crore units, the average selling price (ASP) declined to ₹5.0 from ₹6.3 due to a strategic shift toward the mass-market ₹5 segment. The company faces a delay in its Bengal manufacturing facility, now expected in Q1 FY27, but maintains a healthy net free cash position of ₹10.14 crores.

Operating income grew 5.8% YoY to ₹129.29 crores, while PAT stood at ₹6.77 crores.
Writing instrument volumes rose to 16.4 crore units, with the Pentonic brand contributing 6.5 crore units.
Adjusted EBITDA margin was 10.7% after excluding a one-time non-recurring employee benefit expense.
Average Selling Price (ASP) declined to ₹5.0 due to a deliberate product mix shift toward the ₹5 MRP segment.
The Bengal manufacturing facility is delayed and is now expected to become operational by Q1 FY27.

💡 Investors should monitor the impact of the lower-priced product mix on long-term profitability and track the timely commissioning of the Bengal facility in FY27. The strong cash flow from operations of ₹33.81 crores provides a buffer during this investment phase.

Linc Limited Shares Audio Recording of Q3 FY26 Investor Conference Call

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Feb 2026, 05:41 PM

Linc Limited has released the audio recording of its group conference call with analysts and institutional investors held on February 12, 2026. The call followed the company's Q3 FY26 financial results announcement to provide deeper insights into operational performance. This disclosure is a standard regulatory requirement under SEBI (LODR) Regulations, 2015, ensuring transparency for all shareholders. Investors can access the recording through the provided link on the company's official website.

Conference call with analysts and investors conducted on February 12, 2026
Audio recording for Q3 FY26 earnings discussion made available to the public
Compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations
Direct link to the MP3 recording provided for investor transparency

💡 Investors should listen to the audio recording to understand management's commentary on Q3 performance and future growth strategies. No immediate trading action is required based on this procedural filing.

Linc Q3 FY26 Results: Revenue Up 6.4% YoY, PAT Drops 22.3% to ₹6.77 Crore

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 11 Feb 2026, 08:09 PM

Linc Limited reported a modest 6.4% YoY growth in total income to ₹13,151 lacs for Q3 FY26, but profitability was significantly impacted. PAT declined by 22.3% YoY to ₹677 lacs, driven by a one-time increase in employee benefit expenses and ₹83 lacs in losses from strategic joint ventures. EBITDA margins contracted to 11.5% from 12.9% in the previous year, though the company remains net debt-free with a cash surplus of ₹1,014 lacs. Management noted that the new Bengal manufacturing facility is slightly delayed and is now expected to be operational by Q1 FY27.

Total Income grew 6.4% YoY to ₹13,151 lacs, but declined 7.0% on a sequential (QoQ) basis.
PAT fell 22.3% YoY to ₹677 lacs, with PAT margins contracting by 191 bps to 5.2%.
EBITDA margin stood at 11.5%; excluding a one-time labor regulation cost, the normalized margin would have been 12.2%.
Net Debt remains negative at ₹(1,014) lacs, indicating a strong cash-positive balance sheet.
Joint venture losses of ₹83 lacs were recorded as international operations in Turkey, Kenya, and Korea remain in the investment phase.

💡 Investors should watch for the stabilization of margins and the commissioning of the Bengal facility in Q1 FY27 to drive future growth. While the current earnings are weak due to one-time costs and JV investments, the company's debt-free status provides a safety buffer.

Linc Ltd Q3 FY26 PAT Declines 15.7% YoY to ₹7.46 Cr; Revenue Up 6.3% YoY

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 11 Feb 2026, 07:39 PM

Linc Limited reported a mixed performance for the quarter ended December 31, 2025, with revenue from operations growing 6.3% YoY to ₹125.48 crore. However, profitability faced significant pressure as Net Profit (PAT) declined by 15.7% YoY to ₹7.46 crore, down from ₹8.85 crore in the previous year's quarter. The company also saw a sequential decline in revenue and profit compared to Q2 FY26. A one-time impact of ₹87.78 lakhs was recorded due to new Labour Code valuations, and the company is currently contesting a GST demand of ₹353.39 lakhs.

Revenue from operations stood at ₹12,548.21 lakhs, up 6.3% YoY but down 7.5% QoQ.
Profit After Tax (PAT) fell to ₹745.88 lakhs compared to ₹884.90 lakhs in Q3 FY25.
Earnings Per Share (EPS) decreased to ₹1.25 from ₹1.49 in the corresponding quarter last year.
Employee benefit expenses included a ₹87.78 lakh incremental impact from the new Labour Code actuarial valuation.
The company is contesting a GST demand and penalty totaling over ₹706 lakhs related to HSN classification.

💡 Investors should monitor the margin contraction as profits have declined despite revenue growth. The pending GST litigation and the impact of rising stock-in-trade costs are key risks to watch in the near term.

Linc Limited Submits Routine SEBI Compliance Certificate for Q3 FY 2025-26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jan 2026, 12:52 PM

Linc Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Maheshwari Datamatics Pvt. Ltd., confirms that share certificates received for dematerialization during the quarter ended December 31, 2025, have been processed. The Registrar and Share Transfer Agent (RTA) verified that the security certificates were mutilated and cancelled after due verification. This is a standard administrative filing required by Indian stock exchanges to ensure proper share accounting and transparency.

Compliance certificate submitted for the quarter ended December 31, 2025
Confirmation provided by Registrar and Share Transfer Agent (RTA) Maheshwari Datamatics Pvt. Ltd.
Verification that dematerialized share certificates were processed and cancelled as per SEBI norms
Filing made to BSE, NSE, and CSE as per regulatory requirements

💡 No immediate action is required as this is a routine regulatory filing. Investors should focus on the company's upcoming quarterly financial results for performance insights.

Linc Limited Announces Trading Window Closure from January 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Dec 2025, 10:59 AM

Linc Limited has informed the exchanges that its trading window for dealing in company securities will be closed starting January 1, 2026. This closure is in compliance with SEBI Insider Trading regulations ahead of the announcement of financial results for the quarter ending December 31, 2025. The window will remain closed until 48 hours after the results are officially declared. This is a standard regulatory procedure for listed companies to prevent insider trading during the financial reporting period.

Trading window closure starts from Thursday, January 1, 2026
Closure is for the purpose of declaring financial results for the quarter ended December 31, 2025
Window will reopen 48 hours after the declaration of the financial results
The notice complies with SEBI (Prohibition of Insider Trading) Regulations, 2015

💡 No immediate action is required as this is a routine regulatory filing. Investors should wait for the announcement of the Q3 financial results to evaluate the company's operational performance.

View All LINC Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Writing Instruments segment grew marginally in Q2 FY26, with Pentonic contributing 34.2% (INR 47.80 Cr), Linc & Others 36.2% (INR 50.71 Cr), and licensed brands Uni-ball 17.4% (INR 24.29 Cr) and Deli 4.3% (INR 6.03 Cr). Total Revenue from Operations for FY25 was INR 531.48 Cr, up 5.8% YoY.

Geographic Revenue Split

Not disclosed in available documents, though the company has invested INR 10.04 Cr in joint ventures for strategic business acquisitions in overseas markets.

Profitability Margins

FY25 Profit After Tax (PAT) margin was 7.27% (INR 38.66 Cr), improving from 6.80% in FY24. Q2 FY26 PAT margin was 6.0%, a 3.7% dip YoY due to transitional losses in early-stage joint ventures.

EBITDA Margin

FY25 Operating EBITDA margin was approximately 12.85% (INR 68.29 Cr). Q2 FY26 operating EBITDA margin declined by 3.8% YoY, primarily due to higher employee costs from scheduled annual increments.

Capital Expenditure

The company is undergoing a capital expenditure plan of approximately INR 35 Cr, which is being funded entirely through internal accruals.

Credit Rating & Borrowing

Acuité has assigned a 'Stable' outlook. The company has minimal dependence on bank limits, with a finance cost of INR 1.74 Cr in FY25 and an interest coverage ratio of 30.8x.

⚙️ Operational Drivers

Raw Materials

Polymer (a derivative of crude oil) is the primary raw material, though the specific percentage of total cost is not disclosed.

Capacity Expansion

Current installed capacity is not specified in units; however, the company is investing INR 35 Cr in capex to support growth and maintains a team of 1,061 dedicated employees as of March 2025.

Raw Material Costs

Raw material costs are susceptible to fluctuations in crude oil prices; margins were 11.85% in FY25 despite volatility, though specific procurement strategies were not detailed.

Manufacturing Efficiency

Fixed Asset Turnover was 4.21x and Total Asset Turnover was 1.60x as of Sep '25 (annualized).

Logistics & Distribution

Year-end debtors stood at 35 days of sales in FY25, up from 33 days in FY24, reflecting distribution credit terms.

📈 Strategic Growth

Expected Growth Rate

5.80%

Growth Strategy

Growth is targeted through strategic business acquisitions in overseas markets (INR 10.04 Cr invested in JVs), product portfolio expansion in stationery (Deli brand), and scaling the high-margin Pentonic brand which now contributes 34.2% of revenue.

Products & Services

Writing instruments (ball pens, gel pens), and stationery products including office supplies.

Brand Portfolio

Pentonic, Linc, Uni-ball, and Deli.

New Products/Services

Expansion into 'Other Products' (stationery) contributed 12.2% of sales in Q2 FY26; specific new launch revenue contributions are not disclosed.

Market Expansion

Strategic focus on overseas markets through joint ventures to reach operational maturity and increase global footprint.

Strategic Alliances

Joint ventures for overseas acquisitions (INR 10.04 Cr investment) and licensing agreements with Mitsubishi Pencil Co., Japan (Uni-ball) and Deli.

🌍 External Factors

Industry Trends

The industry is evolving with a shift toward branded, high-quality writing instruments like Pentonic; however, it remains highly competitive with limited pricing power for manufacturers.

Competitive Landscape

Intense competition from large organized players and a significant number of unorganized local manufacturers.

Competitive Moat

The moat is built on strong brand recognition (Pentonic) and a robust distribution network; sustainability depends on maintaining cost efficiency against unorganized players.

Macro Economic Sensitivity

Highly sensitive to crude oil price fluctuations due to polymer dependency and general economic conditions affecting student and office demand.

Consumer Behavior

Shift toward value-added pens and branded stationery products in the domestic market.

Geopolitical Risks

Exposure to international markets through JVs introduces risks related to overseas trade and operational maturity in foreign jurisdictions.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with the Companies Act 2013, SEBI Listing Regulations, and Secretarial Standards is maintained; no significant changes in accounting policies reported.