Linc Limited (formerly known as Linc Pen & Plastics Ltd), incorporated in October 1994, is a Kolkata-headquartered company that manufactures and markets writing instruments and stationery products. It stands as one of India's most trusted writing instrument manufacturers, boasting a national and international presence in over 50 countries. Linc is recognized as India's largest and oldest writing instrument manufacturer, offering a diverse assortment of ball pens, gel pens, roller pens, retractable ball pens, dark pencils, and other stationery items.
The company operates from its headquarters at Aurora Waterfront, 18th Floor, GN 34/1, Sector-V, Salt Lake, Kolkata, West Bengal. As of April 1, 2024, Linc has a workforce of 1104 employees. The company's name was officially changed from Linc Pen Plastics Ltd. to LINC LIMITED effective October 25, 2021.
Linc Limited functions as a comprehensive writing instruments and stationery manufacturer with an extensive and diverse product range. The company manufactures and sells a variety of writing instruments and stationery products both in India and internationally. Its offerings include:
- Pens: Gel, ball, roller, retractable, and fountain pens.
- Adhesive Products: Glue sticks, gum sticks, and sticky notes.
- Calculators
- Desk Supplies: Push pins, thumb tacks, office pins, paper clips, calling bells, cutters, desk organizers, binder clips, scissors, business card holders, pen holders, clip dispensers, and markers.
- Pencils: Pencils and mechanical pencils.
- Files and Folders
- School Stationery Products: Pencil sharpeners, stationery sets, colored pencils, plastic crayons, and oil pastels.
- Stationery Organizers
The company markets its products to students and adults under its proprietary brands Linc and Pentonic, as well as licensed brands such as Uni-ball and Deli. Linc also exports its products to approximately 50 countries globally.
Linc Limited has significantly expanded its international footprint through strategic collaborations. The company is the exclusive Indian selling agent for the premium pen range of Mitsubishi Pencil Company, Japan. Furthermore, Linc Ltd is the exclusive importer and distributor in India for Asia's biggest stationery giant, Deli, and the world-renowned pen brand Uni-ball (Mitsubishi Pencil Co., Japan).
Linc boasts a strong and extensive network across South East Asia, the Middle East, USA, UK, Europe, South America, Africa, Russia, and CIS countries. To further bolster its global strategy, the Board of Linc, at its meeting held on September 26, 2024, approved a Joint Venture Agreement between Linc and Mitsubishi Pencil Company (MITSUBISHI). This JV aims to manufacture and sell high-quality, yet affordable, writing instruments specifically tailored for the Indian consumer market.
Linc operates multiple manufacturing facilities to support its production needs. It has two main facilities located in Serakole, West Bengal, and Pilerne, Goa. Additionally, the company opened a new manufacturing facility at Umbergaon, Gujarat, on May 1, 2017, which commenced commercial production on July 15, 2017.
The company's robust marketing network includes 19 super stockists, 782 distributors, and 3 branch offices situated in Delhi, Mumbai, and Goa, ensuring broad reach and efficient distribution across the country.
The company has demonstrated consistent financial growth, as highlighted by its recent annual and quarterly results.
For the full financial year ended March 2025:
- Net Profit: Rose 11.20% to ₹38.04 crore, up from ₹34.21 crore in FY 2024.
- Sales: Increased 7.02% to ₹543.48 crore, compared to ₹507.85 crore in FY 2024.
- Q4 FY25 (Mar 2025):
- Net Profit: Rose 4.85% to ₹12.11 crore, against ₹11.55 crore in Q4 FY24.
- Sales: Rose 9.33% to ₹153.93 crore, against ₹140.80 crore in Q4 FY24.
- Q3 FY25 (Dec 2024):
- Net Profit: Rose 16.91% to ₹8.85 crore, against ₹7.57 crore in Q3 FY24.
- Sales: Declined 1.94% to ₹118.00 crore, against ₹120.34 crore in Q3 FY24.
- Q2 FY25 (Sep 2024):
- Sales: Rose 2.61% to ₹134.64 crore, against ₹131.22 crore in Q2 FY24.
- Market Capitalization: ₹906.67 Cr (as of May 26, 2025) / ₹868.24 Cr (as of June 30, 2025)
- Operating Revenue (TTM): ₹543.48 Cr
- P/E Ratio: 23.83
- Dividend Yield: 0.98%
- 52-Week High: ₹207.90
- 52-Week Low: ₹95.11
- Promoter Holding: 61.02% (as of Mar 2025), an increase of 1.59% from Sep 2024.
Linc Limited maintains a strong financial position with excellent corporate governance practices. The company is almost debt-free, which enhances its financial stability and growth potential. It has consistently maintained a healthy dividend payout ratio of 21.6%, reflecting its commitment to shareholder returns. Promoter holding has shown a positive trend, increasing to 61.02% as of March 2025 from 59.43% as of September 2024, indicating strong confidence from the management.
Linc Limited has undertaken several significant corporate actions recently:
- Stock Split & Bonus Issue: Linc fixed December 20, 2024, as the record date for a stock split of 1-into-2 and a bonus issue of shares in a 1:1 ratio, aimed at enhancing liquidity and making shares more accessible.
- Joint Venture for E-commerce: Linc Limited formed a Joint Venture, 'Linc On Ecommerce Pvt Ltd', with Ondesk Ventures to bolster its online product sales and expand its digital market reach.
Linc Limited represents a compelling investment opportunity due to several key factors:
- Debt-Free Status: The company is debt-free and possesses a strong balance sheet, enabling it to deliver stable earnings growth across various business cycles.
- Profit Growth: Linc has demonstrated impressive profit growth, achieving a 39% CAGR over the last 5 years.
- Healthy Dividend Payout: The company consistently maintains a healthy dividend payout of 17.6% (historically, currently 21.6%), showcasing its commitment to rewarding shareholders.
- Operational Efficiency: Debtor days have significantly improved from 38 to 29 days, indicating enhanced operational efficiency in managing receivables.
Linc Limited continues to strengthen its position as India's leading writing instruments manufacturer through strategic partnerships, operational efficiency, and consistent financial performance. The company's unwavering focus on quality products, an extensive distribution network, and a growing international presence collectively position it well for sustained growth in the dynamic stationery and writing instruments market.
