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Standalone net sales (including other operating income) of Esab India for the quarter ended Mar 2022 has increased 27.89% to Rs 264.71 crore. Operating profit margin has declined from 13.89% to 11.47%, leading to 5.63% rise in operating profit to Rs 30.37 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 49.18% to 49.75%. Purchase of finished goods cost rose from 14.71% to 16.22%. Employee cost decreased from 10.53% to 10.38%. Other expenses rose from 11.74% to 12.45%. Other income fell 16.89% to Rs 1.23 crore. PBIDT rose 4.53% to Rs 31.6 crore. Provision for interest fell 22.22% to Rs 0.07 crore. PBDT rose 4.61% to Rs 31.53 crore. Provision for depreciation rose 4.71% to Rs 2.89 crore. Profit before tax grew 4.60% to Rs 28.64 crore. Provision for tax was expense of Rs 7.31 crore, compared to Rs 7.66 crore. Effective tax rate was 25.52% compared to 27.98%. Profit after tax rose 8.16% to Rs 21.33 crore. Full year results analysis
Net sales (including other operating income) of Esab India has increased 31.07% to Rs 892.80 crore. Operating profit margin has jumped from 11.96% to 13.10%, leading to 43.61% rise in operating profit to Rs 117.00 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 45.88% to 48.78%. Purchase of finished goods cost fell from 18.37% to 14.93%. Employee cost decreased from 11.34% to 10.47%. Other expenses rose from 12.38% to 12.90%. Other income fell 26.83% to Rs 8.18 crore. PBIDT rose 35.11% to Rs 125.18 crore. Provision for interest fell 29.27% to Rs 0.29 crore. PBDT rose 35.40% to Rs 124.89 crore. Provision for depreciation down 3.25% to Rs 11.33 crore. Profit before tax grew 41.02% to Rs 113.56 crore. Provision for tax was expense of Rs 29.25 crore, compared to Rs 21.24 crore. Effective tax rate was 25.76% compared to 26.38%. Profit after tax rose 42.20% to Rs 84.31 crore. Other developments Equity capital stood at Rs 15.39 crore as of 31 March 2022 to Rs 15.39 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 73.72% as of 31 March 2022 ,compared to 73.72% as of 31 March 2021 . The Board of Directors has recommended final dividend of Rs. 20/- per equity share of Rs. lO/- each at the meeting held on May 27, 2022 subject to
shareholders` approval at the ensuing Annual General Meeting Loan funds declined from Rs 3.39 crore as of 31 March 2021 to Rs 2.68 crore as of 31 March 2022. Inventories rose to Rs 104.90 crore as of 31 March 2022 from Rs 73.49 crore as of 31 March 2021. Sundry debtors were higher at Rs 134.24 crore as of 31 March 2022 compared to Rs 98.82 crore as of 31 March 2021. Cash and bank balance rose to Rs 44.98 crore as of 31 March 2022 from Rs 42.02 crore as of 31 March 2021. Investments declined from Rs 41.24 crore as of 31 March 2021 to Rs 31.16 crore as of 31 March 2022. Fixed assets increased to Rs 91.90 crore as of 31 March 2022 from Rs 91.46 crore as of 31 March 2021. Intangible assets declined from Rs 0.69 crore to Rs 0.61 crore.
| Esab India : Standalone Results | | Quarter ended | Year ended |
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| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 264.71 | 206.98 | 27.89 | 892.80 | 681.16 | 31.07 | | OPM (%) | 11.47 | 13.89 | -242 bps | 13.10 | 11.96 | 114 bps | | OP | 30.37 | 28.75 | 5.63 | 117.00 | 81.47 | 43.61 | | Other Inc. | 1.23 | 1.48 | -16.89 | 8.18 | 11.18 | -26.83 | | PBIDT | 31.60 | 30.23 | 4.53 | 125.18 | 92.65 | 35.11 | | Interest | 0.07 | 0.09 | -22.22 | 0.29 | 0.41 | -29.27 | | PBDT | 31.53 | 30.14 | 4.61 | 124.89 | 92.24 | 35.40 | | Depreciation | 2.89 | 2.76 | 4.71 | 11.33 | 11.71 | -3.25 | | PBT | 28.64 | 27.38 | 4.60 | 113.56 | 80.53 | 41.02 | | PBT before EO | 28.64 | 27.38 | 4.60 | 113.56 | 80.53 | 41.02 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 28.64 | 27.38 | 4.60 | 113.56 | 80.53 | 41.02 | | Taxation | 7.31 | 7.66 | -4.57 | 29.25 | 21.24 | 37.71 | | PAT | 21.33 | 19.72 | 8.16 | 84.31 | 59.29 | 42.20 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 21.33 | 19.72 | 8.16 | 84.31 | 59.29 | 42.20 | | EPS (Rs)* | 13.86 | 12.81 | 8.16 | 54.78 | 38.53 | 42.20 | | | * EPS is on current equity of Rs 15.39 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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Peer Comparision (Standalone)
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Q-202203
|
Sales
(Rs. Crs)
|
var.(%)
|
OP
(Rs. Crs)
|
var.(%)
|
Net Profit
(Rs. Crs)
|
var.(%)
|
Share Price(Rs)
27-May-2022
|
var.(%)
over
One year
|
TTM EPS
|
TTM PE
|
|
Esab India Ltd
|
264.71
|
27.89
|
30.37
|
5.63
|
21.33
|
8.16
|
3,516.95
|
91.63
|
54.78
|
64.20
|
|
Ador Fontech Ltd
|
50.14
|
8.58
|
8.40
|
1.82
|
5.72
|
22.75
|
69.95
|
62.30
|
7.27
|
9.62
|
|
Ador Welding Ltd
|
199.81
|
23.65
|
21.02
|
LP
|
12.00
|
-16.55
|
659.25
|
53.47
|
27.85
|
23.67
|
|
D & H India Ltd
|
36.33
|
25.54
|
1.42
|
91.89
|
1.11
|
217.14
|
25.60
|
40.66
|
3.01
|
8.49
|
|
Industry
|
550.99
|
24.18
|
61.21
|
2245.21
|
40.16
|
2.68
|
5,770.85
|
74.31
|
|
22.80
|
|