Linc Limited · NSE:LINC
Linc — H1 FY26 Earnings Presentation
38 slides from Linc's earnings presentation, Nov 10, 2025
Slide 1: Cover letter to stock exchanges: Strategy Presentation
10th November, 2025 The Listing Department, The Manager The Manager, The Calcutta Stock Exchange Ltd. Department of Corporate Listing Department, 7, Lyons Range, Services, National Stock Exchange of India Ltd. Kolkata – 700001 BSE Limited Exchange Plaza, P. J. Towers, Dalal Street, Bandra Kurla Comp
Slide 2: Strategy Presentation Linc Limited H1 FY26
STRATEGY PRESENTATION Linc Limited H1 FY26 NSE : LINC BSE : LINC Bloomberg : LINC:IN 1
Slide 3: Safe Harbour Statement
Safe Harbour Statement This presentation may contain certain “forward-looking statements” within the meaning of applicable securities laws and regulations, which may include those describing the Company’s strategies, strategic direction, objectives, future projects and/or prospects, estimates etc. I
Slide 4: Inside This Presentation
Inside This Presentation 1 2 3 4 Why Linc Financial Industry Outlook Company Overview Snapshot
Slide 5: Industry Outlook
! Industry Outlook
Slide 6: Global Stationery Industry Opportunity
Global Stationery Industry Opportunity Global Stationery and Supplies Writing Instruments Market4 Market 1 ▪ The Global Stationery and Supplies Market is 33.6 valued at USD 152.43 billion in 2025 and is 196.1 25.3 projected to rise to USD 196.11 billion by 2030, US$ Billion 152.4 reflecting a health
Slide 7: Opportunity in the Indian Market
Opportunity in the Indian Market Indian Writing Indian Government Writing Instruments Market Growth Drivers Instruments Market Education Industry ▪ Rising Populations: 1274.3 541 o The youth population aged between 15 and 29 years makes up 40 % of the total US$ Million US$ Billion population of the
Slide 8: Indian Writing Instrument Industry Opportunity
Indian Writing Instrument Industr y Oppor tunity Indian Pen Market subsegments Indian Pen Segment Market Size in ₹ Billion 5-10% 87 - 90 CAGR 7.6% – 8.3% 15-20% 25 60.4 Premium 42% FY23 Mid-Premium MRP 58% 17.3 42.5 Mass 70-75% 12.1 26.9 62 - 65 Pen Subsegments Price 7.7 43.1 Criteria 30.4 19.2 Mass
Slide 9: Pens - Global Trade Perspective
Pens - Global Trade Perspective 826 Top 10 Exporters of Pens in CY 2024 1,137 Top 10 Importers of Pens in CY 2024 725 USD Millions USD Millions 417 351 251 379 187 317 160 153 250 126 107 173 165 156 153 146 132 Japan Germany Mexico USA India USA Germany Mexico UK Spain Italy Netherlands Czechia Pol
Slide 10: Our Journey
Our Journey JV with Mitsubishi Umergaon Pentonic was launched. Production It was a Game Changer 543 commenced in that featured Minimalistic design & 508 new factory 490 FY 25 Price at Rs 10 Linc Glycer, Ocean Gel Mitsubishi The company’s FY 19 was launched acquired 13% highest selling pen FY 17 400
Slide 11: Our Portfolio of Products
Our Portfolio of Products ▪ Among Top 3 brands in ▪ New Writing Instrument ▪ Global brand from ▪ Asia’s largest India for Writing brand launched in FY19 Mitsubishi Pencil Co. stationery giant. Instruments. by Linc in MRP ₹10 and Ltd, Japan. above segment. ▪ Presence in the ▪ Presence across all ▪ Pr
Slide 12: Recent Launches
Recent Launches Pentonic Compass Pentonic Mech Pentonic SF Pencil Swype Fine Tip Swype White Swype Swype Permanent Pencil 0.5 & 0.7 Marker Board Marker Highlighter Marker Pentonic Ball Pen Linc Fineliner Linc Ocean Gel Linc Nex 0.5 Linc Glycer A1 Linc Calculator (75% Recycled) New Foil 11
Slide 13: Upcoming Launches
Upcoming Launches Pentonic Twistick JustClick COLOUR WITH A TWIST 12
Slide 14: Trend of Financial Performance
Trend of Financial Performance CAGR 14.6% CAGR 6.5% CAGR 11.0% 7.6% 6.9% 12.6% 11.8% 11.1% 6.6% 10.4% 9.6% 3,740 6,440 3,804 5.5% 6,136 3,421 4.8% ₹ LACS 54,348 5,642 ₹ LACS 48,676 50,785 6.1% 39,699 3,826 4.0% 35,496 1,925 2.3% 25,666 27,605 2,881 1,551 2,153 1,017 0.0% 813 FY20 FY21 FY22 FY23 FY24
Slide 15: Leadership
Leadership MR. DEEPAK JALAN DR. (H.C.) CS ADV MAMTA BINANI Managing director, Independent, Non-executive director, ▪ Commerce graduate with 38 years of experience ▪ 1st insolvency professional, to be registered with the Insolvency & Bankruptcy Board of ▪ Responsible for the overall operations with a
Slide 16: Why Linc?
Why Linc? Consistently Focus on Inroads into Strong endeavors to Rapidly Geographic Premiumization, Stationery Balance Sheet practice good expanding Expansion; consistently Products; with negative Corporate distribution Focusing on augmenting widening net Governance network Added increasing its the
Slide 17: Focus on Premiumization
Focus on Premiumization Pentonic brand introduced in FY19 as a minimalistic Growth in average realization of Pens (₹)1 yet contemporary pen, known for its aesthetics as 6.58 well as writing smoothness 6.13 5.80 5.83 5.88 6.36 5.53 5.62 5.57 5.62 6.21 5.67 5.64 5.42 4.90 4.52 4.32 3.96 3.65 FY 18 FY
Slide 18: Focus on Premiumization
Focus on Premiumization Number of Pens sold (in lacs) 7,107 • Pentonic positioned at ₹ 10 + segment 2,960 • Pentonic GPM ~ 44% 168 3,870 3,746 1,602 1,435 84 80 3,979 2,184 2,231 FY 25 H1 FY 25 H1 FY26 Linc Uniball Pentonic 17
Slide 19: Focus on Premiumization
Focus on Premiumization Pentonic’s Contribution to Total Revenue ▪ Increase in share of Pentonic in total revenue 37% 38% 35% 40% ▪ New Launches in the upcoming quarters will drive FY24 FY25 premiumization 34% 36% 32% 33% 29% 35% 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter 35.6% 38.3% 34.3% 29.9
Slide 20: Increasing its Global Footprint As Well
Increasing it’s Global Footprint As Well Value Pen Exports from India – CY25* USD Millions Linc’s Geographic Reach –H1 FY26 North America 35 Africa 28 Middle East 22 North America Europe Including Russia South and Central America 14 6.5% 12.4% Europe 19 South East Asia 14 Central and South Asia 13 O
Slide 21: Recent Participation in Global Expos
Recent Participation in Global Expos Riyadh, Saudi Arabia, 2025 20
Slide 22: Recent Participation in Global Expos
Recent Participation in Global Expos Ambiente, Frankfurt, Germany, 2025 21
Slide 23: Recent Participation in Global Expos
Recent Participation in Global Expos Canton Fair, China, 2025 22
Slide 24: Recent Participation in Global Expos
Recent Participation in Global Expos Brazil, 2025 23
Slide 25: Inroads into Stationery Products
Inroads into Stationery Products ▪ Diversified Product Roadmap: New launches in markers, calculators, and other stationery products to strengthen presence as a holistic stationery player. ▪ Expanding TAM Ambitions: Aim to broaden the Total Addressable Market, with a long-term aspiration to tap into
Slide 26: Focus on Shareholder Value Creation
Focus on Shareholder Value Creation Net Cash from Operating Activities Vs Dividend Net Debt and Net Debt/Operating EBITDA Payout 2.44 6,194 52% 4,562 5,693 ₹ LACS 1.19 4,723 ₹ LACS 4,338 33% 3,835 3,801 12% 20% 797 0.78 3,317 0% 22% 24% 290 (760) (765) (1,869) (1,304) 892 744 2,625 223 744 2,044 268
Slide 27: Strategic JV with Mitsubishi Pencil Co.
Strategic JV with Mitsubishi Pencil Co. ▪ The JV builds on our 3 decade-long exclusive relationship with Mitsubishi, merging their advanced technology with our market expertise ▪ ₹20 Cr. investment, with Mitsubishi holding a 51% share ▪ Establishing a new facility near Ahmedabad to produce products
Slide 28: Expansion Plan
Expansion Plan Modernisation and expansion of the existing Kolkata facility, at an infrastructure Cost of ~₹3,500 lacs Estimated to be completed by Q3 FY26 Investment in machineries will be in modular way – in line with the market demand Linked with our joint venture with Morris 27
Slide 29: Wider Penetration across India
Wider Penetration across India ▪ India has over 10 Mn non-stationery outlets Break-up of Region-wise Touch Points – H1 FY26 ▪ Broken tradition by expanding to neighbourhood grocery stores (Kirana, Medical stores, Pan stores, etc.) 17% ▪ Focus will be on increasing revenue per touchpoint 31% ▪ Increa
Slide 30: ESG
ESG E S G ▪ Strongly believes in ▪ Pentonic’s individual diversity in the ▪ Consistently plastic wrapper workforce and has endeavored to packaging has been ~1,000 female practice good consciously employees Corporate substituted with paper ▪ Employs a small Governance box packaging of specially-abled
Slide 31: Financial Snapshot
! Financial Snapshot
Slide 32: Operational Highlights
Operational Highlights ₹ Lacs Writing Instruments Other Products Writing Instruments Other Products Revenue Own Brands Licensed Brands Own Brands Licensed Brands Pentonic Linc & Others Uni-Ball Pentonic Linc & Others Deli H1 FY26 9,742 10,192 4,504 380 1,805 1,121 Sales Contribution 35.1% 36.7% 16.2
Slide 33: Operational Highlights
Operational Highlights Trade Channel Wise Break-up of Operating Revenue ₹ Lacs 20% 5,455 Exports Exports 18% 4,714 1,377 5% E commerce E commerce 4% 1,039 2,188 8% Modern Trade Modern Trade 6% 1,695 2,476 Corporate 9% 2,427 Corporate 9% 16,261 General Trade General Trade 59% 16,953 63% H1 FY26 H1 FY
Slide 34: Profit & Loss Summary
Profit & Loss Summary ₹ Lacs Particulars FY21 FY22 FY23 FY24 FY25 H1 FY26 Operating Income 25,666 35,496 48,676 50,785 54,348 27,605 Gross Profit 5,753 8,441 15,197 15,909 17,290 8,550 Gross Profit (%) 22.4% 23.8% 31.2% 31.3% 31.8% 31.0% Operating EBITDA 1,017 2,153 6,136 5,642 6,440 2,881 Operating
Slide 35: Balance Sheet Summary
Balance Sheet Summary ₹ Lacs Particulars FY21 FY22 FY23 FY24 FY25 H1 FY26 Net Worth 13,471 14,285 17,722 20,585 23,571 24,227 Gross Debt 812 299 - 692 636 652 Cash & Cash equivalent 14 9 760 1,456 2,505 1,956 Net Debt 797 290 ( 760) (765) (1,869) (1,304) Capital Employed1 15,025 15,178 18,730 23,867
Slide 36: Ratios
Ratios Particulars Ratios FY21 FY22 FY23 FY24 FY25 H1 FY26 Solvency Ratios Net Debt/Equity 0.06 0.02 (0.04) (0.04) (0.08) (0.05) Net Debt/Op EBITDA 0.78 0.13 (0.12) (0.14) (0.29) (0.23) EBIT/Interest (0.39) 15.81 79.78 18.91 18.43 16.71 Operational Ratios Current Ratio 1.92 2.14 2.56 2.22 2.38 2.31
Slide 37: Shareholding Pattern
Shareholding Pattern As on 30st Sep’25 Promoters 23.8% Mitshubishi Pencil Co Ltd 1.5% IEPF 0.3 NRI, FII, AIF etc. 61.0% 13.5% Other Public 36
Slide 38: Thank You
Thank You For further details please contact Director Finance & CFO Investor Relations Advisor N.K.Dujari Sanjeev Sancheti Email: investors@linclimited.com Email: ir@uirtus.in Website: www.uirtus.in 37