Other income grew 9% to Rs 2.94 crore and depreciation fell 7% to Rs 2.36 crore.

PBT ballooned 97% to Rs 13.94 crore.

There was EO expenses of Rs 39 lakh against Rs 11.63 crore. Thus PBT after EO stood at Rs 13.55 crore against a loss of Rs 4.57 crore.

Tax stood at Rs 4.18 crore against a write back of Rs 3.19 crore. Finally, PAT stood at Rs 9.37 crore against a loss of Rs 1.38 crore.

FY 2016 results

For FY 2016, Esab India registered sales of Rs 450.95 crore. OPM stood at 10.2% and OP was at Rs 46.15 crore. Other income was at Rs 8.00 crore and depreciation charges were Rs 9.52 crore. After which PBT stood at Rs 44.63 crore.

There was EO expenses of Rs 3.53 crore. Thus PBT after EO stood at Rs 41.10 crore.

Tax stood at Rs 12.76 crore. Finally, PAT stood strong at Rs 28.34 crore.

We have not compared the performance for FY 2016 as the previous FY (FY 2015) was for 15 months.

Segment results

For the quarter, sales from the Consumables segment grew 7% to Rs 83.05 crore and accounted for 73% of sales. PBIT from the same jumped 92% to Rs 13.32 crore and accounted for 91% of total.

For the quarter, sales from the Equipment division grew 10% to Rs 30.29 crore and accounted for 27% of sales. PBIT from the same stood Rs 1.28 crore, down 59% and accounted for 9% of total.

For the quarter PBIT margin of Consumables segment improved from 8.9% to 16.0% while that of the Equipment division fell from 11.2% to 4.2%.

For the FY, sales from the Consumables segment stood at Rs 329.48 crore and accounted for 74%. PBIT stood at Rs 44.63 crore and accounted for 88% of total.

For the FY, sales from the Equipment division stood at Rs 117.75 crore and accounted for 26%. PBIT stood at Rs 6.31 crore and accounted for 12% of total.

We have not compared the performance for FY 2016 as the previous FY (FY 2015) was for 15 months.

Other details

Following a review of manufacturing capacities of the Company's consumable Plant locations, the Board of Directors at its meeting held on May 26,2015 approved the discontinuance of operations of the Consumables Plant at Khardah, Kolkata. The Board also approved shifting some of its manufacturing and related equipment to other such plant locations. The Board also approved the sale, disposal or transfer of the remaining moveable and immoveable assets pertaining to the plant at Khardah, Kolkata. The shareholders have also accorded their approval vide e-voting/postal ballot on August 10, 2015. This has necessitated an Exceptional Expenditure of Rs 39 lakh (quarter ended March 2015 Rs 11.63 crore) arising out of VSS settlement made to graded staff.

Valuation

The share price trades at Rs 595.