Other income grew 20% to Rs 3.91 crore and depreciation went down 19% to Rs 2.48 crore.

Thus PBT jumped 29% to Rs 12.21 crore.

EO loss was Rs 74 lakh against Rs 8.63 crore. Thus PBT after EO jumped from Rs 84 lakh to Rs 11.47 crore.

Tax provision stood at Rs 2.28 crore against a write back of Rs 25 lakh. Thus net profit jumped from Rs 1.09 crore to Rs 9.19 crore.

For FY 2018, Esab India registered a 7% rise in sales to Rs 543.56 crore. OPM improved 110 basis points to 9.7% which saw OP grow 20% to Rs 52.59 crore.

Other income fell 10% to Rs 12.02 crore and depreciation went down 2% to Rs 10.09 crore.

Thus PBT grew 17% to Rs 54.52 crore.

EO loss was Rs 1.88 crore against Rs 9.11 crore. Thus PBT after EO grew 40% to Rs 52.64 crore.

Tax provision grew 43% to Rs 15.49 crore after which PAT went up 38% to Rs 37.15 crore.

Segment results

For the quarter, sales from the Consumables segment grew 4% to Rs 102.14 crore and accounted for 67% of sales. PBIT from the same fell 19% to Rs 8.94 crore and accounted for 58% of total.

For the quarter, sales from the Equipment division grew 52% to Rs 51.45 crore and accounted for 33% of sales. PBIT from the same jumped from Rs 41 lakh top Rs 6.6 crore and accounted for 42% of total.

In FY 2018, sales from the Consumables segment fell 1% to Rs 372.20 crore and accounted for 68% of sales. PBIT from the same fell 3% to Rs 41.62 crore and accounted for 70% of total.

In FY 2018, sales from the Equipment division jumped 28% to Rs 171.36 crore and accounted for 32% of sales. PBIT from the same jumped 234% to Rs 17.78 crore and accounted for 30% of total.

ESAB India acquires welding business from Sandvik Asia PVT Ltd, Pune

ESAB India acquired welding business from Sandvik Asia PVT Ltd, Pune. The acquisition is by way of business transfer agreement so specialty alloys business.

Sandvik Materials Technology portfolio is complimentary to Esab's current product lines, expanding the breadth of Esab's high alloy filler metal offering in stainless steel and nickel.

The acquisition will strengthen Esab India's capabilities and competitive position, continuing to make it the partner of choice for welding needs.

Sandvik Asia is a world class manufacturer of stainless steel and special alloy for demanding environments and has been one of the leading global suppliers of welding materials for stainless steel and nickel alloys for more than 80 years.

The cost of acquisition is still under negotiation.

ESAB Holdings buys L&T's EWAC Alloys Ltd

On 12 October 2017, Larsen and Toubro agreed to sell unit EWAC Alloys Ltd to the UK-based ESAB Holdings Ltd for Rs 522 crore ($80 million).

EWAC makes welding products such as electrodes, gas brazing rods, welding torches and accessories at its factory in Ankleshwar, Gujarat. The company was started as a joint venture of L&T and Germany's Messer Eutectic Castolin Group. In 2011, it became a wholly owned subsidiary of L&T.

EWAC posted revenue of Rs 211.2 crore for FY 2017.

Valuation

The stock trades at Rs 665.