Capitaline

Results 11-Aug-23

Analysis

Esab India

Net jumps 66% on strong operating show

Standalone net sales (including other operating income) of Esab India for the quarter ended Jun 2023 has increased 22.50% to Rs 298.25 crore. Operating profit margin has jumped from 14.72% to 19.38%, leading to 61.24% rise in operating profit to Rs 57.79 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 48.61% to 47.80%. Purchase of finished goods cost fell from 14.80% to 12.60%. Employee cost decreased from 9.62% to 8.33%. Other expenses fell from 12.62% to 11.89%.

Other income up 68% to Rs 2.52 crore. PBIDT rose 61.52% to Rs 60.31 crore. Provision for interest up 50% to Rs 0.09 crore.

PBDT rose 61.53% to Rs 60.22 crore. Provision for depreciation rose 13.61% to Rs 3.34 crore.

Profit before tax grew 65.64% to Rs 56.88 crore. Provision for tax was expense of Rs 14.5 crore, compared to Rs 8.74 crore. Effective tax rate was 25.49% compared to 25.45%.

Profit after tax rose 65.55% to Rs 42.38 crore.

Promoters’ stake was 73.72% as of 30 June 2023 ,compared to 73.72% as of 30 June 2022 .

Esab India : Standalone Results

	Quarter ended			Year ended
Particulars	202306	202206	Var.(%)	202303	202203	Var.(%)
Net Sales (including other operating income)	298.25	243.47	22.50	1,090.80	896.30	21.70
OPM (%)	19.38	14.72	466 bps	17.11	13.44	367 bps
OP	57.79	35.84	61.24	186.68	120.50	54.92
Other Inc.	2.52	1.50	68.00	7.80	4.68	66.67
PBIDT	60.31	37.34	61.52	194.48	125.18	55.36
Interest	0.09	0.06	50.00	0.31	0.29	6.90
PBDT	60.22	37.28	61.53	194.17	124.89	55.47
Depreciation	3.34	2.94	13.61	11.88	11.33	4.85
PBT	56.88	34.34	65.64	182.29	113.56	60.52
PBT before EO	56.88	34.34	65.64	182.29	113.56	60.52
EO Income	0	0	-	0	0	-
PBT after EO	56.88	34.34	65.64	182.29	113.56	60.52
Taxation	14.5	8.74	65.90	46.61	29.25	59.35
PAT	42.38	25.6	65.55	135.68	84.31	60.93
P/(L) from discontinued operations net of tax	0	0	-	0	0	-
Net profit after discontinued operations	42.38	25.6	65.55	135.68	84.31	60.93
EPS (Rs)*	27.54	16.63	65.55	88.16	54.78	60.93

* 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

Peer Comparision (Standalone)	Q-202306
Peer Comparision (Standalone)	Sales (Rs. Crs)	var.(%)	OP (Rs. Crs)	var.(%)	Net Profit (Rs. Crs)	var.(%)	Share Price(Rs) 10-Aug-2023	var.(%) over One year	TTM EPS	TTM PE
Esab India Ltd	298.25	22.5	57.79	61.24	42.38	65.55	4,680.45	48.42	99.06	47.25
Ador Fontech Ltd	48.57	-0.35	7.28	5.35	6.02	18.97	107.05	34.74	6.84	15.66
Ador Welding Ltd	189.63	20.11	16.07	16.96	11.24	-0.44	1,108.10	30.04	43.96	25.21
Industry	536.45	19.19	81.14	43.64	59.64	42.17	7,986.97	21.22		22.80

Previous News

Esab India standalone net profit rises 8.16% in the March 2022 quarter
( Results - Announcements 28-May-22 08:12 )

Esab India standalone net profit rises 5.71% in the March 2024 quarter
( Results - Announcements 24-May-24 07:35 )

Volumes spurt at Esab India Ltd counter
( Hot Pursuit - 27-Apr-23 11:00 )

Esab India
( Results - Analysis 14-Aug-19 10:29 )

Board of Esab India recommends interim dividend
( Corporate News - 11-Nov-21 10:34 )

Esab India
( Results - Analysis 30-May-18 17:49 )

Esab India to pay interim dividend of Rs 19
( Market Beat - Reports 10-Feb-21 15:48 )

Esab India to discuss results
( Corporate News - 05-Jul-18 12:50 )

Esab India announces resignation of director
( Corporate News - 29-Jan-15 18:47 )

Esab India standalone net profit rises 743.12% in the March 2018 quarter
( Results - Announcements 30-May-18 17:40 )

Esab India standalone net profit rises 33.75% in the September 2021 quarter
( Results - Announcements 29-Oct-21 08:20 )