Esab India Ltd

Esab India is engaged in the business of fabrication technology.(Source : 201903 Annual Report Page No: 78)

  • Market Cap: 2,272 Cr.
  • Current Price: 1,476
  • 52 weeks High / Low 1727.95 / 867.90
  • Book Value: 196.17
  • Stock P/E: 32.60
  • Dividend Yield: 6.10 %
  • ROCE: 25.96 %
  • ROE: 17.71 %
  • Sales Growth (3Yrs): 14.20 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
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Pros:
Company is virtually debt free.
Stock is providing a good dividend yield of 6.10%.
Company has been maintaining a healthy dividend payout of 83.46%
Cons:
Stock is trading at 7.53 times its book value
The company has delivered a poor growth of 9.10% over past five years.
Company has a low return on equity of 12.49% for last 3 years.

Peer comparison Sector: Capital Goods-Non Electrical Equipment // Industry: Electrodes - Welding Equipment

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019
132 137 127 126 154 172 166 152 181 181 173 169
123 123 113 112 143 149 148 139 157 156 150 146
Operating Profit 9 13 14 15 11 22 19 13 24 26 23 23
OPM % 7% 10% 11% 12% 7% 13% 11% 9% 13% 14% 13% 14%
Other Income -5 2 2 2 3 3 5 6 2 3 3 4
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 3 3 2 3 2 3 3 3 3 3 3 3
Profit before tax 1 13 14 14 11 23 21 17 24 26 22 24
Tax % -30% 31% 32% 33% 20% 33% 32% 30% 30% 35% 16% 25%
Net Profit 1 9 9 10 9 15 14 12 16 17 19 18
EPS in Rs 0.71 5.89 6.04 6.24 5.97 10.00 9.28 7.50 10.63 10.87 12.25 11.54
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
339 417 410 494 541 504 434 552 451 466 543 672 704
259 326 309 408 461 442 383 507 406 426 491 593 608
Operating Profit 80 91 101 85 80 62 51 45 45 41 52 78 96
OPM % 24% 22% 25% 17% 15% 12% 12% 8% 10% 9% 10% 12% 14%
Other Income 7 9 9 14 3 5 8 -0 6 8 11 17 12
Interest 1 1 1 1 1 1 1 0 0 0 0 0 0
Depreciation 6 7 8 11 12 12 11 14 10 10 10 11 12
Profit before tax 81 93 101 88 71 54 47 31 41 38 53 84 95
Tax % 34% 34% 34% 33% 33% 30% 30% 23% 31% 29% 29% 32%
Net Profit 53 61 66 59 47 38 33 24 28 27 37 58 70
EPS in Rs 32.23 37.12 39.60 34.99 28.39 23.33 21.35 12.12 18.21 17.45 24.14 37.42 45.29
Dividend Payout % 45% 39% 47% 52% 49% 31% 5% 7% 5% 6% 4% 241%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:4.89%
5 Years:9.10%
3 Years:14.20%
TTM:9.28%
Compounded Profit Growth
10 Years:-0.64%
5 Years:11.49%
3 Years:24.28%
TTM:35.45%
Stock Price CAGR
10 Years:9.87%
5 Years:18.18%
3 Years:37.77%
1 Year:26.24%
Return on Equity
10 Years:16.52%
5 Years:11.76%
3 Years:12.49%
Last Year:17.71%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
15 15 15 15 15 15 15 15 15 15 15 15 15
Reserves 88 122 152 176 196 221 252 274 300 327 363 251 287
Borrowings 0 0 0 0 0 0 0 0 0 1 0 0 0
58 65 61 104 80 95 83 80 70 85 102 112 133
Total Liabilities 162 202 228 295 292 331 350 369 386 428 480 379 435
61 68 89 93 104 99 96 83 78 76 80 83 88
CWIP 6 12 7 17 2 1 3 1 5 7 8 3 3
Investments 17 12 2 34 34 78 105 122 120 147 125 30 68
78 110 129 152 151 154 147 163 183 198 269 262 277
Total Assets 162 202 228 295 292 331 350 369 386 428 480 379 435

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
47 59 72 60 40 46 35 16 18 36 30 67
-24 -13 -11 -48 -5 -46 -27 -12 -9 -23 9 102
-28 -25 -40 -19 -45 -0 -14 -2 -2 -2 -41 -163
Net Cash Flow -5 21 21 -8 -9 -0 -6 3 7 12 -2 6

Ratios Standalone Figures in Rs. Crores / View Consolidated

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 91% 77% 67% 49% 36% 25% 19% 15% 14% 13% 15% 26%
Debtor Days 11 15 9 20 14 17 23 29 37 37 40 35
Inventory Turnover 6.37 6.65 6.17 6.76 5.78 4.90 4.25 6.19 5.00 4.91 5.15 6.12