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For the quarter ended September 2018, Esab India registered 31% jump in sales to Rs 166.43 crore. OPM improved 40 basis points to 11.2% which saw OP jump 36% to Rs 18.64 crore.
Other income grew 89% to Rs 5.17 crore and depreciation went up 12% to Rs 2.77 crore.
Thus PBT jumped 51% to Rs 21.04 crore.
EO loss was NIL against Rs 26 lakh. Thus PBT after EO grew 53% to Rs 21.04 crore.
Tax provision was higher by 53% to Rs 6.75 crore. Thus net profit jumped 54% to Rs 14.29 crore.
Six months results
For the six months, Esab India registered 28% jump in sales to Rs 338.09 crore. OPM improved 180 basis points to 12.1% which saw OP jump 50% to Rs 40.88 crore.
Other income grew 60% to Rs 9.19 crore and depreciation went up 6% to Rs 5.30 crore.
Thus PBT jumped 60% to Rs 44.77 crore.
EO loss was Rs 68 lakh against Rs 1.14 crore. Thus PBT after EO grew 65% to Rs 44.09 crore.
Tax provision was higher by 71% to Rs 14.41 crore (tax incidence grew from 31.4% to 32.7%). Thus net profit jumped 62% to Rs 29.68 crore.
FY 2018 results
For FY 2018, Esab India registered a 7% rise in sales to Rs 543.56 crore. OPM improved 110 basis points to 9.7% which saw OP grow 20% to Rs 52.59 crore.
PBT grew 17% to Rs 54.52 crore.
EO loss was Rs 1.88 crore against Rs 9.11 crore. Thus PBT after EO grew 40% to Rs 52.64 crore.
PAT went up 38% to Rs 37.15 crore.
Valuation
The stock trades at Rs 905.
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