Linc Ltd-$ — Q4 FY26 earnings call
Summary generated by AI from the official transcript Linc Ltd-$ filed with BSE on 29 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Linc Limited reported FY26 operating income of Rs 543 crores, broadly stable year-on-year, while Q4 FY26 operating income fell 10.6% to Rs 137.67 crores due to a high base in corporate gifting orders and export weakness in geopolitically affected markets. Operating EBITDA for FY26 was Rs 59.49 crores at an 11% margin, while Q4 FY26 EBITDA margin improved 41 basis points to 12.9%. Management said Q1 FY27 is expected to reflect similar trends as Q4 FY26 due to muted corporate gifting orders and continued export disruption, and the Board approved a dividend of Rs 1.5 per share along with a further $250,000 investment in the Turkish joint venture.
Numbers mentioned
Operating income: INR543 crores (FY26)
p. 3
“Our operating income for the year stood at INR543 crores, broadly stable year-on-year.”
Rohit Deepak Jalan, page 3 of the filed PDF · View the filing
Operating income: INR137.67 crores (Q4 FY26)
p. 3
“For quarter 4 FY26, our operating income stood at INR137.67 crores, reflecting a decline of 10.6% compared to the corresponding quarter last year.”
Rohit Deepak Jalan, page 3 of the filed PDF · View the filing
Operating EBITDA: INR59.49 crores, 11% margin (FY26)
p. 3
“Operating EBITDA for FY '26 stood at INR59.49 crores with a margin of 11%, reflecting a decline of 89 basis points over the previous year.”
Rohit Deepak Jalan, page 3 of the filed PDF · View the filing
Operating EBITDA: INR17.78 crores, 12.9% margin (Q4 FY26)
p. 3
“For quarter 4, the operating EBITDA stood at INR17.78 crores with a margin of 12.9% representing an improvement of 41 basis points year-on-year.”
Rohit Deepak Jalan, page 3 of the filed PDF · View the filing
PAT: INR3,274 lakhs, 5.9% margin (FY26)
p. 5
“For FY26, PAT stood at INR3,274 lakhs, translating into a PAT margin of 5.9%.”
N.K. Dujari, page 5 of the filed PDF · View the filing
PAT: INR1,046 lakhs, 7.5% margin (Q4 FY26)
p. 5
“On a quarterly basis, PAT for Q4 FY '26 came in at INR1,046 lakhs with a margin of 7.5%.”
N.K. Dujari, page 5 of the filed PDF · View the filing
Net cash position: INR686 lakhs (as on 31st March 2026)
p. 5
“Our balance sheet remained strong throughout the year with a net cash position of INR686 lakhs as on 31st March 2026, reflecting continued financial discipline.”
N.K. Dujari, page 5 of the filed PDF · View the filing
Net debt to operating EBITDA: 0.12x negative (FY26)
p. 5
“Net debt to operating EBITDA stood at 0.12x negative, while ROC and ROE stood at 18.7% and 13.3%, respectively.”
N.K. Dujari, page 5 of the filed PDF · View the filing
ROCE and ROE: 18.7% and 13.3% (FY26)
p. 5
“Net debt to operating EBITDA stood at 0.12x negative, while ROC and ROE stood at 18.7% and 13.3%, respectively.”
N.K. Dujari, page 5 of the filed PDF · View the filing
Fixed asset turnover: around 4x (FY26)
p. 5
“Asset productivity will remain healthy with fixed asset turnover at around 4x indicating efficient utilization of asset base.”
N.K. Dujari, page 5 of the filed PDF · View the filing
Cash conversion cycle: 64 days (FY26)
p. 5
“Our cash conversion cycle stands at 64 days.”
N.K. Dujari, page 5 of the filed PDF · View the filing
Dividend: INR1.5 per share (FY26)
p. 4
“the Board has approved a dividend of INR1.5 per share, same as last year, implying a payout ratio of around 27% on consolidated profit, subject to shareholder approval.”
Rohit Deepak Jalan, page 4 of the filed PDF · View the filing
Export degrowth: almost 25% degrowth year-on-year (Q4 FY26)
p. 8
“So quarter 4 was almost 25% degrowth year-on-year.”
Rohit Deepak Jalan, page 8 of the filed PDF · View the filing
Sales team addition: 125 people
p. 10
“Sales team, yes, we our strength by 125 people.”
Rohit Deepak Jalan, page 10 of the filed PDF · View the filing
Sales team base: 350-odd
p. 10
“On a base of 350-odd.”
Rohit Deepak Jalan, page 10 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue trend — Q1 FY27
stated firmly by Rohit Deepak Jalan
p. 3
“Quarter 1 FY 2027 is expected to reflect the trends seen in quarter 4 FY '26.”
Rohit Deepak Jalan, page 3 of the filed PDF · View the filing
Corporate gifting orders impact — Q1 FY27
stated firmly by Rohit Deepak Jalan
p. 3
“So corporate gifting orders, which typically span over quarter 4 and quarter 1, have been muted this year and will accordingly have a bearing on quarter 1 FY '27 revenues also.”
Rohit Deepak Jalan, page 3 of the filed PDF · View the filing
Polymer/raw material costs — over the course of the year
stated as an aspiration by Rohit Deepak Jalan
p. 4
“We are navigating these conditions through disciplined cost management and expect them to progressively ease over the course of the year.”
Rohit Deepak Jalan, page 4 of the filed PDF · View the filing
Morris subsidiary facility — operational · quarter 3 FY27
stated firmly by Rohit Deepak Jalan
p. 4
“Subsidiary with Morris, progress remains linked to our upcoming West Bengal manufacturing facility, which is expected to become operational by quarter 3 FY27.”
Rohit Deepak Jalan, page 4 of the filed PDF · View the filing
Kenya subsidiary sales momentum — coming periods
stated as an aspiration by Rohit Deepak Jalan
p. 4
“Kenya subsidiary, sales momentum has started to improve, and we expect this positive trajectory to strengthen further in the coming periods.”
Rohit Deepak Jalan, page 4 of the filed PDF · View the filing
Linc-on subsidiary traction — this financial year
stated as an aspiration by Rohit Deepak Jalan
p. 4
“Linc-on subsidiary. Operations have commenced and the business is expected to gain meaningful traction from this financial year.”
Rohit Deepak Jalan, page 4 of the filed PDF · View the filing
FY27 formal guidance — next quarter
stated conditionally by N.K. Dujari
p. 5
“Given the current uncertainties, we believe it will be prudent to await another quarter to gain better visibility before providing formal guidance on our outlook for the year FY27.”
N.K. Dujari, page 5 of the filed PDF · View the filing
Turkish JV investment — $250,000
stated firmly by Rohit Deepak Jalan
p. 4
“Linc's Board has approved a further investment of $250,000 with a matching contribution from the JV partner maintaining the existing shareholding structure.”
Rohit Deepak Jalan, page 4 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said it has split its sales team into two verticals since April 2026 and added 125 frontline sales staff, and that GT channel growth showed double-digit growth in April.
Answered by Rohit Deepak Jalan
Asked by Rushabh Shah: What steps has the company taken to improve distribution to become like Colgate?
p. 5
“So if we look at our April performance, our April performance in GT channel has shown a double-digit growth, actually.”
Rohit Deepak Jalan, page 5 of the filed PDF · View the filing
Management said splitting the sales team into two verticals allows more focused selling and should increase throughput per retailer.
Answered by Rohit Deepak Jalan
Asked by Rushabh Shah: How is the company increasing throughput per retailer?
p. 6
“So absolutely. So with the splitting of the sales team, this throughput is bound to increase.”
Rohit Deepak Jalan, page 6 of the filed PDF · View the filing
Management said geopolitical disruptions outweighed any currency benefit, and rising import costs for raw materials also offset gains.
Answered by Management
Asked by Himanshu Upadhyay: Why hasn't currency depreciation benefited exports more given rupee depreciation against other currencies?
p. 9
“But the overall geopolitical situations had far outweighed the benefits of the rupee depreciation.”
Management, page 9 of the filed PDF · View the filing
Management said splitting sales teams will allow better focus on premium price points and that new product launches are planned for this year and next.
Answered by Rohit Deepak Jalan
Asked by Himanshu Upadhyay: What is the plan for Pentonic products at the INR20 and INR30 price points and new product development?
p. 10
“So we have new developments planned for this year, new launches planned for this year.”
Rohit Deepak Jalan, page 10 of the filed PDF · View the filing
Risks flagged
Corporate/institutional sales moderation due to high base effect from prior year gifting orders
p. 3
“Performance during the quarter was impacted by two key factors. Firstly, our corporate or institutional sales moderated due to a high base effect, as the segment had contributed meaningfully in both quarter 4 and quarter 1 of the previous year.”
Rohit Deepak Jalan, page 3 of the filed PDF · View the filing
Export revenue impacted by geopolitical environment affecting international demand
p. 3
“Secondly, export revenues were impacted by the prevailing geopolitical environment, which weighed on demand across certain international markets.”
Rohit Deepak Jalan, page 3 of the filed PDF · View the filing
Rising polymer raw material prices due to supply-side disruptions
p. 4
“Polymer prices, our principal raw materials, have also risen due to supply-side disruptions.”
Rohit Deepak Jalan, page 4 of the filed PDF · View the filing
Inability to fully pass through raw material cost increases due to competitive dynamics
p. 4
“And given competitive dynamics, immediate full pass-through in pricing may not be feasible.”
Rohit Deepak Jalan, page 4 of the filed PDF · View the filing
Export degrowth in Q4 due to Middle East situation
p. 8
“Secondly, if we look at the export market performance, our quarter 4 was a degrowth because of the prevailing situation in the Middle East, as we all know.”
Rohit Deepak Jalan, page 8 of the filed PDF · View the filing
Recurring geopolitical disruptions in export markets across multiple years and countries
p. 8
“So actually, unfortunately, every year, there has been some of the other issues.”
Rohit Deepak Jalan, page 8 of the filed PDF · View the filing
External operating environment remains dynamic due to geopolitical developments and trade conditions
p. 5
“Geopolitical developments and evolving global trade conditions can influence demand patterns, export market and supply chain dynamics.”
N.K. Dujari, page 5 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.