Esab India Ltd logo

Esab India Ltd

ESABINDIA NSE

Key Fundamentals

MicrocapOther Industrial ProductsIndustrial Products
Market Cap
₹9,670 Cr
Volatility
High Risk
P/E Ratio
42.86
EBITDA
₹276 Cr
Return on Equity
48.14%
Debt to Equity
0.01
Book Value
₹278.95
EPS
₹107.25
52W High
₹7,319.5
52W Low
₹4,710

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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29 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 52.3%
  • Company has been maintaining a healthy dividend payout of 72.0%

Weaknesses

1
  • Stock is trading at 22.6 times its book value

Growth Rate

Revenue Growth
9.63% ↗
Net Income Growth
17.84% ↘
Cash Flow Change
-9.11% ↘
ROE
-0.86% ↘
ROCE
-4.51% ↘
EBITDA Margin (Avg.)
-0.27% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 42d ago
AI opinion · based on fundamentals
Risk medium

Esab India Ltd is a nearly debt-free industrials company with a market cap of ₹8,862 Cr, trading at a PE of 43.3x and a price-to-book of 20.9x. The company has delivered a 3-year ROE of 52% and compounded profit growth of 13% over three years, while maintaining a dividend payout ratio of 72%.

Bull Case 8
  • Company is virtually debt-free, providing financial flexibility and resilience during economic downturns
  • Exceptional return on equity of 52% over 3 years and 49% over 5 years, indicating highly efficient capital allocation
  • Compounded profit growth of 27% over 5 years demonstrates strong earnings momentum over a meaningful period
  • Healthy dividend payout ratio of 72% with a current dividend yield of 1.29%, reflecting shareholder-friendly capital return policy
  • Compounded sales growth of 17% over 5 years shows sustained demand for welding and cutting products in India's industrial expansion
  • Stock CAGR of 25% over both 5-year and 10-year periods indicates consistent long-term wealth creation
  • TTM sales growth of 10% and TTM profit growth of 11% suggest continued business traction in the current period
  • 10-year compounded profit growth of 21% demonstrates the company's ability to grow earnings across multiple business cycles
Bear Case 8
  • Stock trades at 20.9x book value, significantly elevated compared to industrial sector averages, leaving limited margin of safety
  • PE ratio of 43.3x is expensive for a company growing sales at only 10% TTM, implying a PEG well above 1
  • Sales growth has decelerated from 17% (5-year CAGR) to 11% (3-year CAGR) to 10% (TTM), indicating a slowing growth trajectory
  • Profit growth has moderated from 27% (5-year CAGR) to 13% (3-year CAGR) to 11% (TTM), suggesting margin expansion tailwinds may be fading
  • Market cap of ₹8,862 Cr for a company in a niche industrial segment may limit institutional interest and liquidity
  • ROE has declined from 52% (3-year average) to 49% (last year), and the 10-year average of 32% suggests recent ROE levels may not be sustainable
  • Being a subsidiary of a global parent (ESAB Corporation) limits strategic autonomy and could result in related-party transaction risks or capped growth ambitions
  • Dividend yield of 1.29% is modest relative to the high valuation multiples, offering limited downside protection if re-rating occurs

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 42d ago
Positives 2
  • FY26 PAT up 17.83% Jul 3

    ESAB India reported FY2025-26 profit after tax of ₹20,669 lakhs, growing 17.83% year-over-year, with total revenue rising to ₹1,51,418 lakhs.

  • ₹25 per share final dividend Jul 3

    The board proposed a final dividend of ₹25 per share for FY2025-26, signaling confidence in cash flow generation and shareholder returns.

Neutral 1
  • 39th AGM scheduled July 29 Jul 3

    ESAB India has scheduled its 39th Annual General Meeting for July 29, 2026.

TL;DR: ESAB India delivered solid FY26 results with 17.83% PAT growth and healthy revenue expansion, complemented by a generous ₹25 per share dividend. No visible headwinds from current news flow. The earnings trajectory is positive, and the upcoming AGM on July 29 may provide further clarity on capital allocation and growth outlook.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
298
303
301
341
330
339
337
368
352
382
379
396
421
Expenses
240
249
248
279
268
277
282
302
293
309
303
333
342
Operating Profit
58
54
54
62
62
61
55
66
59
72
76
63
79
OPM %
19%
18%
18%
18%
19%
18%
16%
18%
17%
19%
20%
16%
19%
Other Income
3
2
1
1
1
1
3
2
1
33
-13
2
2
Interest
0
0
0
0
0
0
0
1
1
0
1
0
0
Depreciation
3
3
4
4
3
4
4
4
4
4
4
4
5
PBT
57
52
51
60
60
59
55
63
55
101
58
60
76
Tax %
25%
26%
26%
26%
26%
27%
26%
24%
26%
22%
26%
27%
26%
Net Profit
42
38
38
44
44
43
40
47
41
79
43
44
56
EPS in Rs
27.53
24.95
24.65
28.75
28.88
28.04
26.23
30.81
26.6
51.45
27.93
28.29
36.47
Figures in ₹ Crores

Profit & Loss

  Mar 2015 15mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
552
451
466
543
672
698
681
896
1,091
1,243
1,373
1,508
1,577
Expenses
507
406
422
491
593
601
598
775
904
1,014
1,129
1,238
1,287
Operating Profit
45
45
44
52
79
97
83
121
187
229
245
270
290
OPM %
8%
10%
9%
10%
12%
14%
12%
13%
17%
18%
18%
18%
18%
Other Income
0
6
4
11
16
14
11
5
8
6
8
23
24
Interest
0
0
0
0
0
1
2
1
0
2
2
3
2
Depreciation
14
10
10
10
11
13
12
11
12
14
15
17
17
PBT
31
41
38
53
84
97
81
114
182
220
236
274
295
Tax %
23%
31%
29%
29%
32%
27%
26%
26%
26%
26%
26%
25%
—
Net Profit
24
28
27
37
58
71
59
84
136
163
175
207
222
EPS in Rs
15.36
18.41
17.45
24.13
37.41
46.39
38.52
54.77
88.14
106
114
134
144
Div. Payout %
7%
5%
6%
4%
241%
151%
114%
110%
88%
81%
79%
56%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
15
15
15
15
15
15
15
15
15
15
15
15
Reserves
274
300
327
363
251
322
244
229
245
291
346
414
Borrowings
0
0
1
0
0
5
3
3
4
5
4
3
Other Liabilities
80
70
85
102
112
116
126
189
210
240
284
266
Total Liabilities
369
386
428
480
379
458
388
436
474
551
649
699
Fixed Assets
83
78
76
80
83
86
90
90
95
125
136
148
CWIP
1
5
7
8
3
7
3
3
20
4
9
6
Investments
122
120
147
125
30
70
41
31
0
0
24
44
Other Assets
163
183
198
269
262
295
255
312
359
421
480
502
Total Assets
369
386
428
480
379
458
388
436
474
551
649
699
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
16
18
36
30
67
57
72
85
129
141
199
181
Investing
-12
-9
-23
9
102
-120
66
20
5
-55
-15
-46
Financing
-2
-2
-2
-41
-163
39
-139
-102
-122
-81
-157
-143
Net Cash Flow
3
7
12
-2
6
-24
0
3
12
5
27
-8
Free Cash Flow
11
8
22
13
56
37
62
74
98
115
171
150
CFO/OP
63
68
110
89
115
84
114
94
92
87
106
95
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
29
37
37
40
35
44
53
55
51
55
60
61
Inventory Days
55
76
77
76
58
66
61
68
67
55
59
58
Days Payable
56
56
71
78
71
74
80
93
82
65
87
86
Cash Conversion Cycle
28
57
43
38
21
36
34
30
36
45
32
34
Working Capital Days
22
39
34
67
48
40
46
30
30
25
26
40
ROCE %
15%
14%
13%
15%
26%
32%
27%
44%
71%
77%
70%
65%

Shareholding Pattern

As of Jun 2026
Promoters 73.72%
DIIs 12.88%
Public 9.63%
Others 2.15%
FIIs 1.62%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
73.72%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
1.08%
0.00%
1.27%
1.53%
1.66%
1.85%
1.79%
1.56%
1.53%
1.51%
1.55%
1.62%
DIIs
10.06%
9.99%
13.53%
13.69%
13.66%
13.50%
13.47%
13.43%
13.39%
13.18%
13.17%
12.47%
13.19%
13.20%
13.20%
13.11%
12.88%
12.83%
12.78%
12.94%
12.89%
12.88%
Government
0.40%
0.40%
0.40%
0.42%
0.42%
0.42%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
10.95%
11.05%
11.19%
10.93%
10.90%
10.64%
10.01%
10.06%
9.99%
9.98%
9.83%
9.65%
9.64%
9.42%
9.30%
9.18%
9.48%
9.74%
9.79%
9.69%
9.69%
9.63%
Others
4.87%
4.84%
1.16%
1.23%
1.30%
1.72%
2.80%
2.79%
2.89%
3.12%
2.20%
4.15%
2.18%
2.12%
2.12%
2.14%
2.13%
2.15%
2.18%
2.14%
2.14%
2.15%
No. of Shareholders
14,526
15,021
14,450
13,778
14,844
17,199
17,958
17,227
18,041
18,422
18,375
19,685
18,395
18,288
19,674
19,749
20,625
21,625
21,499
20,215
19,837
20,083

Documents

Frequently Asked Questions about Esab India Ltd

What does Esab India Ltd do?
ESAB India Ltd is a leading supplier of welding and cutting products in India. It is a subsidiary of ESAB Group which was ultimately owned by the Colfax Corporation of USA.[1]
Where is Esab India Ltd (ESABINDIA) listed?
Esab India Ltd is listed on the Indian stock exchanges. It is listed on NSE: ESABINDIA and BSE: 500133. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Esab India Ltd belong to?
Esab India Ltd operates in the Industrial Products sector within the Other Industrial Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Esab India Ltd?
Esab India Ltd has a market capitalisation of approximately ₹9669.90 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Esab India Ltd?
The Price-to-Earnings (PE) ratio of Esab India Ltd is 42.86. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Esab India Ltd?
Over the past 52 weeks, Esab India Ltd has traded between a low of ₹4,710 and a high of ₹7,319.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does Esab India Ltd pay dividends?
Yes, Esab India Ltd has a dividend yield of 1.19%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Esab India Ltd?
Esab India Ltd has a Return on Equity (ROE) of 48.14%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Esab India Ltd on Tapetide?
On Tapetide, you can view Esab India Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

ESAB India Ltd is a leading supplier of welding and cutting products in India. It is a subsidiary of ESAB Group which was ultimately owned by the Colfax Corporation of USA.[1]

Website esabindia.com
CEO Mr. Rohit Gambhir
Employees 852
Listed 1995-11-01
Face Value ₹ 10
Issued Size 1,53,93,020

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