La Opala RG Q2 FY26 Results: Revenue Grows 0.3% YoY to ₹909 Cr, PAT Rises 11% to ₹26.78 Cr on Stable Demand
9 Nov 2025
Linc Limited - Writing Instruments and Stationery Manufacturing Facility
📊 Stock Analysis
Complete financial analysis with key metrics and investment outlook
Linc Limited Q2 FY2026 Financial Performance
Linc Limited (NSE: LINC), a leading manufacturer of pens and stationery products with a strong domestic and global presence, reported its unaudited financial results for the quarter ended September 30, 2025 (Q2 FY26). The company showcased steady topline growth and margin stability despite moderate profit decline due to joint venture transition costs.
Stock Performance & Key Metrics
As of November 8, 2025:
- Current Price: ₹121
- Market Cap: ₹718 Crores
- Stock P/E: 18.4
- Industry P/E: 42.2
- Book Value: ₹40.7 per share
- Dividend Yield: 1.24%
- ROCE: 22.4%
- ROE: 17.6%
- Debt to Equity: 0.08
- Debt: ₹20.6 Crores
- Face Value: ₹5
- EPS: ₹6.56
Q2 FY2026 Financial Highlights
| Particulars | Q2 FY26 | Q2 FY25 | YoY Change |
|---|---|---|---|
| Total Income | ₹14,137 Lakhs | ₹13,728 Lakhs | ↑ 3.0% |
| EBITDA | ₹1,797 Lakhs | ₹1,630 Lakhs | ↑ 10.3% |
| EBITDA Margin | 12.7% | 11.9% | ↑ 84 bps |
| PAT | ₹846 Lakhs | ₹879 Lakhs | ↓ 3.7% |
| EPS (₹) | 1.42 | 1.48 | ↓ 4% |
Linc delivered steady revenue growth supported by new product introductions and effective cost control. Despite minor profit contraction due to early-stage joint venture losses, operational performance remains resilient.
Management Commentary
Mr. Deepak Jalan, Managing Director of Linc Limited, stated: > “Q2 FY26 was a steady quarter with 3% topline growth and double-digit EBITDA expansion. The slight PAT decline reflects early-stage JV losses, which are transitional. Our underlying business remains robust, driven by product innovation and operational discipline.”
He highlighted encouraging early traction from new product launches such as the SWYPE marker range and Pentonic mechanical pencil, which are expected to contribute meaningfully to revenue growth in upcoming quarters.
Strategic Highlights
- JV with Mitsubishi Pencil Co. (Japan) commenced operations in October 2025; launched a new ₹20 ball pen targeting Indian and ASEAN markets.
- JV with Morris (Korea) aligned with Linc’s upcoming Bengal manufacturing facility, expected to be operational by Q4 FY26.
- JV with Turkish partner progressing toward commercial alignment milestones.
- Kenya subsidiary operations under stabilization phase with positive long-term prospects.
- Continued focus on innovation, design-led growth, and export market expansion.
Business Overview
Founded in 1976, Linc Limited (formerly Linc Pen & Plastics Ltd) is one of India’s most trusted writing instrument brands, manufacturing pens, markers, and stationery under the popular brands *Linc*, *Pentonic*, and *Geltonic*. The company has a presence in over 40 countries and exclusive distribution rights for Uniball (Japan) in India. With ISO 9001:2008 certified plants in Serakole (West Bengal) and Umbergaon (Gujarat), Linc produces over two million pens per day, reflecting its manufacturing strength and market reach.
Financial Strength
- Debt-to-Equity ratio at just 0.08, underscoring a strong balance sheet.
- Net Debt/EBITDA at (0.20) as of September 2025 — indicates net cash surplus.
- Sustained ROCE of 22.4% and ROE of 17.6%, showing strong return metrics.
Outlook
Linc remains focused on:
- Scaling up its new product portfolio and international operations.
- Leveraging joint ventures to enhance technological capabilities.
- Strengthening distribution and optimizing capacity utilization in India.
- Driving sustainable growth through innovation and strategic global partnerships.
The company’s long-term fundamentals remain robust, with strategic partnerships, innovation-driven growth, and strong financial health positioning it for a profitable future.
*For full results, refer to the Press Release PDF* *Data as of November 8, 2025 | Results approved in Board Meeting held on November 8, 2025*
