Esab India Ltd

Esab India Ltd

₹ 5,924 -0.21%
05 Jun - close price
About

ESAB India Ltd is a leading supplier of welding and cutting products in India. It is a subsidiary of ESAB Group which was ultimately owned by the Colfax Corporation of USA.[1]

Key Points

Product Offerings
The company's products include welding consumables, arc welding equipment, plasma, cutting automation, gas equipment, welding automation & robotics, digital solutions, and PPE & accessories. [1]

  • Market Cap 9,120 Cr.
  • Current Price 5,924
  • High / Low 7,325 / 4,710
  • Stock P/E 47.1
  • Book Value 279
  • Dividend Yield 1.27 %
  • ROCE 64.9 %
  • ROE 49.0 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 52.4%
  • Company has been maintaining a healthy dividend payout of 72.0%

Cons

  • Stock is trading at 21.2 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
302 298 303 301 341 330 339 337 368 352 382 379 396
245 240 249 248 279 268 277 282 302 293 309 303 333
Operating Profit 57 58 54 54 62 62 61 55 66 59 72 76 63
OPM % 19% 19% 18% 18% 18% 19% 18% 16% 18% 17% 19% 20% 16%
3 3 2 1 1 1 1 3 2 1 33 -13 2
Interest 0 0 0 0 0 0 0 0 1 1 0 1 0
Depreciation 3 3 3 4 4 3 4 4 4 4 4 4 4
Profit before tax 56 57 52 51 60 60 59 55 63 55 101 58 60
Tax % 26% 25% 26% 26% 26% 26% 27% 26% 24% 26% 22% 26% 27%
42 42 38 38 44 44 43 40 47 41 79 43 44
EPS in Rs 27.19 27.53 24.95 24.65 28.75 28.88 28.04 26.23 30.81 26.60 51.45 27.93 28.29
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 15m Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
552 451 466 543 672 698 681 896 1,091 1,243 1,373 1,508
507 406 422 491 593 601 598 775 904 1,014 1,129 1,238
Operating Profit 45 45 44 52 79 97 83 121 187 229 245 270
OPM % 8% 10% 9% 10% 12% 14% 12% 13% 17% 18% 18% 18%
-0 6 4 11 16 14 11 5 8 6 8 23
Interest 0 0 0 0 0 1 2 1 0 2 2 2
Depreciation 14 10 10 10 11 13 12 11 12 14 15 17
Profit before tax 31 41 38 53 84 97 81 114 182 220 236 274
Tax % 23% 31% 29% 29% 32% 27% 26% 26% 26% 26% 26% 25%
24 28 27 37 58 71 59 84 136 163 175 207
EPS in Rs 15.36 18.41 17.45 24.13 37.41 46.39 38.52 54.77 88.14 105.88 113.96 134.28
Dividend Payout % 7% 5% 6% 4% 241% 151% 114% 110% 88% 81% 79% 56%
Compounded Sales Growth
10 Years: 13%
5 Years: 17%
3 Years: 11%
TTM: 10%
Compounded Profit Growth
10 Years: 21%
5 Years: 27%
3 Years: 13%
TTM: 11%
Stock Price CAGR
10 Years: 26%
5 Years: 27%
3 Years: 15%
1 Year: 13%
Return on Equity
10 Years: 32%
5 Years: 49%
3 Years: 52%
Last Year: 49%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 15 15 15 15 15 15 15 15 15 15 15 15
Reserves 274 300 327 363 251 322 244 229 245 291 346 414
0 0 1 0 0 5 3 3 4 5 4 3
80 70 85 102 112 116 126 189 210 240 282 266
Total Liabilities 369 386 428 480 379 458 388 436 474 551 647 699
83 78 76 80 83 86 90 90 95 125 136 148
CWIP 1 5 7 8 3 7 3 3 20 4 9 6
Investments 122 120 147 125 30 70 41 31 0 0 24 44
163 183 198 269 262 295 255 312 359 421 478 502
Total Assets 369 386 428 480 379 458 388 436 474 551 647 699

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
16 18 36 30 67 57 72 85 129 141 200 181
-12 -9 -23 9 102 -120 66 20 5 -55 -16 -46
-2 -2 -2 -41 -163 39 -139 -102 -122 -81 -157 -143
Net Cash Flow 3 7 12 -2 6 -24 -0 3 12 5 27 -8
Free Cash Flow 11 8 22 13 56 37 62 74 98 115 172 152
CFO/OP 63% 68% 110% 89% 115% 84% 114% 94% 92% 87% 107% 95%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 29 37 37 40 35 44 53 55 51 55 60 61
Inventory Days 55 76 77 76 58 66 61 68 67 55 59 58
Days Payable 56 56 71 78 71 74 80 93 82 65 87 86
Cash Conversion Cycle 28 57 43 38 21 36 34 30 36 45 31 34
Working Capital Days 22 39 34 67 48 40 46 30 30 25 26 50
ROCE % 15% 14% 13% 15% 26% 32% 27% 44% 71% 77% 70% 65%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Number of Plants
Number

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Total Employees
Number
Security Deposits from Dealers
Rs. Lakhs
Number of Dealers
Number
Manufactured Goods Revenue Contribution
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
73.72% 73.72% 73.72% 73.72% 73.72% 73.72% 73.72% 73.72% 73.72% 73.72% 73.72% 73.72%
0.95% 1.08% 1.14% 1.26% 1.54% 1.66% 1.84% 1.79% 1.56% 1.53% 1.51% 1.56%
13.01% 13.00% 12.98% 13.02% 13.03% 13.03% 13.10% 12.87% 12.82% 12.77% 12.93% 12.88%
12.32% 12.19% 12.15% 11.99% 11.69% 11.59% 11.33% 11.60% 11.89% 11.98% 11.84% 11.84%
No. of Shareholders 18,42218,37519,68518,39518,28819,67419,74920,62521,62521,49920,21519,837

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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