Results     15-Aug-21
Analysis
Esab India
PAT up 184% on strong operating show
Standalone net sales (including other operating income) of Esab India for the quarter ended June 2021 has increased 45.75% to Rs 181.18 crore albeing on weak base due to covid national lockdown.  Operating profit margin has jumped from 7.9% to 15.5%, leading to 186% rise in operating profit to Rs 28.11 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 33.86% to 46.38%.   Purchase of finished goods cost fell from 31.22% to 14.10%.   Employee cost decreased from 14.75% to 11.68%.   Other expenses rose from 11.93% to 12.76%.   Other income fell 34% to Rs 1.96 crore.  PBIDT rose 135% to Rs 30.07 crore.  Provision for interest fell 17% to Rs 0.1 crore.  PBDT rose 136% to Rs 29.97 crore.  Provision for depreciation down 11% to Rs 2.79 crore.  Profit before tax grew 184% to Rs 27.18 crore.  Provision for tax was expense of Rs 6.83 crore, compared to Rs 2.39 crore.  Effective tax rate was 25.13% compared to 25.00%. Profit after tax rose 183.82% to Rs 20.35 crore. 

 

Promoters’ stake was 73.72% as of 30 June 2021, compared to 73.72% as of 30 June 2020.

 

Esab : Standalone Results

 

 

2103 (3)

2003 (3)

Var. (%)

2103 (12)

2003 (12)

Var. (%)

 

Sales

181.18

124.31

46

681.16

697.96

-2

 

OPM (%)

15.5

7.9

 

12.0

13.9

 

 

OP

28.11

9.82

186

81.47

96.81

-16

 

Other inc.

1.96

2.99

-34

11.18

13.51

-17

 

PBIDT

30.07

12.81

135

92.65

110.32

-16

 

Interest

0.10

0.12

-17

0.41

0.50

-18

 

PBDT

29.97

12.69

136

92.24

109.82

-16

 

Dep.

2.79

3.13

-11

11.71

12.58

-7

 

PBT 

27.18

9.56

184

80.53

97.24

-17

 

EO Exp

0.00

0.00

 

0.00

0.00

 

 

PBT after EO

27.18

9.56

184

80.53

97.24

-17

 

Taxation

6.83

2.39

186

21.24

25.83

-18

 

PAT

20.35

7.17

184

59.29

71.41

-17

 

EPS (Rs)*

#

#

 

38.5

46.4

 

 

* EPS is on current equity of Rs 15.39 crore, Face value of Rs 10

# EPS is not annualised due to seasonality of business

Figures in Rs crore

Source: Capitaline Corporate Database

Peer Comparision (Standalone)
Sales
(Rs. Crs)
var.(%) OP
(Rs. Crs)
var.(%) Net Profit
(Rs. Crs)
var.(%) Share Price(Rs)
var.(%)
over
One year
TTM EPS TTM PE
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