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Standalone net sales (including other operating income) of Esab India for the quarter ended Dec 2023 has increased 12.74% to Rs 301.45 crore. Operating profit margin has declined from 18.11% to 17.81%, leading to 10.88% rise in operating profit to Rs 53.70 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 44.80% to 43.84%. Purchase of finished goods cost fell from 16.42% to 15.80%. Employee cost increased from 8.57% to 9.83%. Other expenses rose from 12.49% to 13.01%. Other income fell 67.09% to Rs 1.04 crore. PBIDT rose 6.11% to Rs 54.74 crore. Provision for interest up 22.22% to Rs 0.11 crore. PBDT rose 6.08% to Rs 54.63 crore. Provision for depreciation rose 20.14% to Rs 3.52 crore. Profit before tax grew 5.23% to Rs 51.11 crore. Provision for tax was expense of Rs 13.16 crore, compared to Rs 12.26 crore. Effective tax rate was 25.75% compared to 25.24%. Profit after tax rose 4.52% to Rs 37.95 crore. For year-to-date (YTD) results analysis
For 9mFY24, net sales (including other operating income) of Esab India has increased 14.35% to Rs 902.39 crore.
Operating profit margin has jumped from 16.47% to 18.33%, leading to 27.29% rise in operating profit to Rs 165.44 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 46.59% to 45.60%. Purchase of finished goods cost fell from 15.78% to 14.46%. Other expenses rose from 12.39% to 12.71%. Other income up 7.72% to Rs 5.16 crore. PBIDT rose 26.60% to Rs 170.6 crore. Provision for interest up 50% to Rs 0.3 crore. PBDT rose 26.56% to Rs 170.3 crore. Provision for depreciation rose 17.66% to Rs 10.26 crore. Profit before tax grew 27.18% to Rs 160.04 crore. Provision for tax was expense of Rs 41.31 crore, compared to Rs 32.02 crore. Effective tax rate was 25.81% compared to 25.45%.Profit after tax rose 26.55% to Rs 118.73 crore. An interim dividend of Rs. 32/· per equity share of Rs. 10/· each was declared by the Company at the meeting of Board of directors held on November 10, 2023 for the
financial year 2023-24 and paid on December 8, 2023 Promoters’ stake was 73.72% as of 31 December 2023 ,compared to 73.72% as of 31 December 2022 .
| Esab India : Standalone Results | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202312 | 202212 | Var.(%) | 202312 | 202212 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 301.45 | 267.39 | 12.74 | 902.39 | 789.12 | 14.35 | 1,090.80 | 896.30 | 21.70 | | OPM (%) | 17.81 | 18.11 | -30 bps | 18.33 | 16.47 | 186 bps | 17.11 | 13.44 | 367 bps | | OP | 53.70 | 48.43 | 10.88 | 165.44 | 129.97 | 27.29 | 186.68 | 120.50 | 54.92 | | Other Inc. | 1.04 | 3.16 | -67.09 | 5.16 | 4.79 | 7.72 | 7.80 | 4.68 | 66.67 | | PBIDT | 54.74 | 51.59 | 6.11 | 170.60 | 134.76 | 26.60 | 194.48 | 125.18 | 55.36 | | Interest | 0.11 | 0.09 | 22.22 | 0.3 | 0.2 | 50.00 | 0.31 | 0.29 | 6.90 | | PBDT | 54.63 | 51.50 | 6.08 | 170.30 | 134.56 | 26.56 | 194.17 | 124.89 | 55.47 | | Depreciation | 3.52 | 2.93 | 20.14 | 10.26 | 8.72 | 17.66 | 11.88 | 11.33 | 4.85 | | PBT | 51.11 | 48.57 | 5.23 | 160.04 | 125.84 | 27.18 | 182.29 | 113.56 | 60.52 | | PBT before EO | 51.11 | 48.57 | 5.23 | 160.04 | 125.84 | 27.18 | 182.29 | 113.56 | 60.52 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 51.11 | 48.57 | 5.23 | 160.04 | 125.84 | 27.18 | 182.29 | 113.56 | 60.52 | | Taxation | 13.16 | 12.26 | 7.34 | 41.31 | 32.02 | 29.01 | 46.61 | 29.25 | 59.35 | | PAT | 37.95 | 36.31 | 4.52 | 118.73 | 93.82 | 26.55 | 135.68 | 84.31 | 60.93 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 37.95 | 36.31 | 4.52 | 118.73 | 93.82 | 26.55 | 135.68 | 84.31 | 60.93 | | EPS (Rs)* | 24.66 | 23.59 | 4.52 | 77.15 | 60.96 | 26.55 | 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 |
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Peer Comparision (Standalone)
|
Q-202312
|
Sales
(Rs. Crs)
|
var.(%)
|
OP
(Rs. Crs)
|
var.(%)
|
Net Profit
(Rs. Crs)
|
var.(%)
|
Share Price(Rs)
08-Feb-2024
|
var.(%)
over
One year
|
TTM EPS
|
TTM PE
|
|
Esab India Ltd
|
301.45
|
12.74
|
53.70
|
10.88
|
37.95
|
4.52
|
5,750.95
|
44.76
|
104.35
|
55.11
|
|
Ador Fontech Ltd
|
48.35
|
-8.65
|
7.21
|
-10.77
|
6.35
|
-5.22
|
140.05
|
74.73
|
7.27
|
19.26
|
|
Ador Welding Ltd
|
221.54
|
11.59
|
20.83
|
-11.77
|
13.70
|
-17.02
|
1,477.25
|
78.88
|
48.95
|
30.18
|
|
Industry
|
571.34
|
10.12
|
81.74
|
2.02
|
58.00
|
-2.55
|
11,592.25
|
48.97
|
|
22.80
|
|