Results 01-Nov-21
Analysis
Esab India
Good all-round show
Standalone net sales (including other operating income) of Esab India for the quarter ended Sep 2021 has increased 33.31% to Rs 221.21 crore. Operating profit margin has jumped from 14.01% to 14.55%, leading to 38.45% rise in operating profit to Rs 32.19 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 44.74% to 46.64%. Purchase of finished goods cost fell from 17.80% to 16.19%. Employee cost decreased from 10.85% to 9.94%. Other expenses rose from 12.45% to 12.81%. Other income fell 27% to Rs 2.65 crore. PBIDT rose 29.61% to Rs 34.84 crore. Provision for interest remained nil. PBDT rose 29.72% to Rs 34.74 crore. Provision for depreciation down 4.42% to Rs 2.81 crore. Profit before tax grew 33.93% to Rs 31.93 crore. Provision for tax was expense of Rs 8.27 crore, compared to Rs 6.15 crore. Effective tax rate was 25.90% compared to 25.80%. Profit after tax rose 33.75% to Rs 23.66 crore.
Half yearly performance
Net sales (including other operating income) has increased 38.64% to Rs 402.39 crore. Operating profit margin has jumped from 11.39% to 14.99%, leading to 82.34% rise in operating profit to Rs 60.30 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 40.12% to 46.52%. Purchase of finished goods cost fell from 23.49% to 15.24%. Employee cost decreased from 12.49% to 10.73%. Other expenses rose from 12.23% to 12.79%. Other income fell 30.36% to Rs 4.61 crore. PBIDT rose 63.54% to Rs 64.91 crore. Provision for interest fell 9.09% to Rs 0.2 crore. PBDT rose 63.95% to Rs 64.71 crore. Provision for depreciation down 7.74% to Rs 5.6 crore. Profit before tax grew 76.98% to Rs 59.11 crore. Provision for tax was expense of Rs 15.1 crore, compared to Rs 8.54 crore. Effective tax rate was 25.55% compared to 25.57%. Profit after tax rose 77.03% to Rs 44.01 crore. Other developments Equity capital stood at Rs 15.39 crore as of 30 September 2021 to Rs 15.39 crore as of 30 September 2020. Per share face Value remained same at Rs 10.00. Promoters’ stake was 73.72% as of 30 September 2021, compared to 73.72% as of 30 September 2020 . Cash flow from operating activities decreased to Rs 23.11 crore for YTD ended September 2021 from Rs 27.66 crore for YTD ended September 2020. Cash flow used in acquiring fixed assets during the YTD ended September 2021 stood at Rs 5.18 crore, compared to Rs 2.89 crore during the YTD ended September 2020. Loan funds declined from Rs 3.51 crore as of 30 September 2020 to Rs 2.14 crore as of 30 September 2021. Inventories rose to Rs 88.59 crore as of 30 September 2021 from Rs 62.47 crore as of 30 September 2020. Sundry debtors were higher at Rs 112.52 crore as of 30 September 2021 compared to Rs 93.93 crore as of 30 September 2020. Cash and bank balance rose to Rs 52.73 crore as of 30 September 2021 from Rs 33.92 crore as of 30 September 2020. Investments declined from Rs 24.18 crore as of 30 September 2020 to Rs 20.18 crore as of 30 September 2021. Fixed assets increased to Rs 91.21 crore as of 30 September 2021 from Rs 89.91 crore as of 30 September 2020. Intangible assets declined from Rs 0.91 crore to Rs 0.76 crore.
Esab : Standalone Results
2109 (3)
2009 (3)
Var.(%)
2109 (6)
2009 (6)
Var. (%)
2103 (12)
2003 (12)
Var. (%)
Sales
221.21
165.94
33
402.39
290.25
39
681.16
697.96
-2
OPM (%)
14.6
14.0
15.0
11.4
12.0
13.9
OP
32.19
23.25
38
60.30
33.07
82
81.47
96.81
-16
Other inc.
2.65
3.63
-27
4.61
6.62
-30
11.18
13.51
-17
PBIDT
34.84
26.88
30
64.91
39.69
64
92.65
110.32
-16
Interest
0.10
0.10
0
0.20
0.22
-9
0.41
0.50
-18
PBDT
34.74
26.78
30
64.71
39.47
64
92.24
109.82
-16
Dep.
2.81
2.94
-4
5.60
6.07
-8
11.71
12.58
-7
PBT
31.93
23.84
34
59.11
33.40
77
80.53
97.24
-17
EO Exp
0.00
0.00
0.00
0.00
0.00
0.00
PBT after EO
31.93
23.84
34
59.11
33.40
77
80.53
97.24
-17
Taxation
8.27
6.15
34
15.10
8.54
77
21.24
25.83
-18
PAT
23.66
17.69
34
44.01
24.86
77
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)
Q-202109
Sales
(Rs. Crs)
var.(%)
OP
(Rs. Crs)
var.(%)
Net Profit
(Rs. Crs)
var.(%)
Share Price(Rs)
29-Oct-2021
var.(%)
over
One year
TTM EPS
TTM PE
Esab India Ltd
221.21
33.31
32.19
38.45
23.66
33.75
2,535.80
93.23
50.97
49.75
Industry
221.21
33.31
32.19
38.45
23.66
33.75
3,374.49
60.04
22.80
Previous News
Esab India
( Results - Analysis 09-Feb-24 11:29 )
Board of Esab India recommends final dividend
( Corporate News - 24-May-24 10:03 )
Esab India to conduct AGM
( Corporate News - 24-May-24 10:03 )
Esab India standalone net profit rises 25.80% in the June 2022 quarter
( Results - Announcements 13-Aug-22 08:15 )
Esab India
( Results - Analysis 11-Feb-22 11:43 )
Esab India to conduct board meeting
( Corporate News - 28-Mar-24 17:06 )
Esab India
( Results - Analysis 28-May-22 18:25 )
Esab India
( Results - Analysis 26-May-23 19:40 )
Esab India
( Results - Analysis 11-Nov-23 11:47 )
Esab India to announce Quarterly Result
( Corporate News - 30-Sep-22 13:36 )
Esab India standalone net profit rises 65.55% in the June 2023 quarter
( Results - Announcements 11-Aug-23 07:49 )
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