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Esab India Ltd (ESABINDIA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500133 NSE: ESABINDIA Electrodes & Welding Equipment | Small Cap | Esab india Share Price

₹5,725 -92.85 (-1.60%)

As on 06-Jul'26 14:50

Esab India Ltd (ESABINDIA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500133 NSE: ESABINDIA Electrodes & Welding Equipment | Small Cap | Esab india Share Price

₹5,725 -92.85 (-1.60%)

As on 06-Jul'26 14:50

Key Metrics
Valuation Multiples
Market Cap
₹8,955 Cr.
Current Price
₹5,725
52-Week Low / High
₹4,715 / 7,325
TTM EPS
₹134.3
TTM Sales
₹1,525 Cr.
Book Value per Share
₹279
P/E Ratio
43.33
Lower than its 5-year historical median
Industry PE
43.2
Price to Book (P/B)
20.86
In line with its 5-year historical median
Price to Sales (P/S)
5.87
In line with its 5-year historical median
EV/EBITDA
32.13
Lower than its 5-year historical median
Dividend Yield
1.31%
Profitability Efficiency
Return on Equity (ROE)
52.28%
Outperforms industry median
Return on Capital Employed (ROCE)
69.97%
Outperforms industry median
Return on Assets (ROA)
31.15%
Operating Profit Margin
17.7%
Net Profit Margin
13.55%
Gross Profit Margin
17.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
9.75%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
10.4%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
17.83%
Asset Quality
Promoter Holding
73.72%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹414 Cr.
Equity
₹15.4 Cr.
Face Value
₹10
All Time Low / High
₹28.00 / 7325.00

Esab India stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Esab India Ltd a good quality company?
Esab India Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Esab India Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Esab India Ltd vs industry peers?
Esab India Ltd revenue CAGR is 14.77%, compared to the industry median CAGR of 7.29%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Esab India Ltd?
Promoters hold 73.72% of the Esab India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Esab India Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 27.8% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Esab India Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 11.6%14.7%26.2%32.5%27.6%45.4%72.5%78.5%71.3%70%-
Value Creation
Index
-0.20.10.91.31.02.24.44.84.34.2-

Growth Parameters

Sales 4665326726986899081,1041,2591,3901,5251,525
Sales YoY Gr.-14%26.3%3.9%-1.3%31.7%21.7%14%10.4%9.8%-
Adj EPS 18.723.836.746.337.553.886.6104.2112.4124.4134.3
YoY Gr.-27.5%54.1%26.2%-19%43.5%60.9%20.3%7.9%10.7%-
BVPS (₹) 222.6245.8173.2219.5168.4158.7169.1198.9234.7279279
Adj Net
Profit
28.836.756.571.357.782.9133160173192207
Cash Flow from Ops. 36.529.767.457.272.484.5129141199181-
Debt/CF from Ops. 0000000000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 14.1%17.2%11.4%9.8%
Adj EPS 23.4%27.1%12.8%10.7%
BVPS2.5%10.6%18.2%18.9%
Share Price 24.3% 25.3% 11.8% 8%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
8.710.217.523.619.432.952.956.751.948.448.1
Op. Profit
Mgn %
9.59.811.8141213.31718.217.617.717.9
Net Profit
Mgn %
6.26.98.410.28.49.112.112.712.512.613.6
Debt to
Equity
00000000000
Working Cap
Days
107119109103106959391939558
Cash Conv.
Cycle
3028202230242329282532

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales4665326726986899081,1041,2591,3901,525
Operating Expenses + 4224805936016067879181,0301,1451,255
Manufacturing Costs31304442455761677683
Material Costs297346431436439564672744815879
Employee Cost 51597076779597109121145
Other Costs 42454747467188110134149
Operating Profit 4452799783121187229245270
Operating Profit Margin (%) 9.5%9.8%11.8%13.9%12.0%13.3%16.9%18.2%17.6%17.7%
Other Income + 131317141158686
Exceptional Items -9-2-100000017
Interest 0001211223
Depreciation 10101113121112141517
Profit Before Tax 3853849781114182220236274
Tax 11152726212947576067
Profit After Tax 273758715984136163175207
PAT Margin (%) 5.8%7.0%8.6%10.2%8.6%9.3%12.3%12.9%12.6%13.6%
Adjusted EPS (₹)17.524.137.446.438.554.888.2105.9114.0134.3
Dividend Payout Ratio (%)5.70%4.10%240.50%150.90%114.20%109.50%88.50%81.20%79%55.80%

Valuation of Esab india - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 343378267338259244260306361429
Share Capital 15151515151515151515
Reserves 327363251322244229245291346414
Debt +0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Minority Interest0000000000
Trade Payables5874848896144152133195207
Others Liabilities 262626313146611108253
Total Liabilities 426479377457387434473549638690

Fixed Assets

Net Fixed Assets +76828386909095125136148
Gross Block89104116129142151168211230256
Accumulated Depreciation132332435262738594108
CWIP 78373320496
Investments 14712530704131002444
Inventories6373687873105123111131141
Trade Receivables4759648599135152189226254
Cash Equivalents 416456100424556877975
Others Assets 45697331392626313323
Total Assets 426479377457387434473549638690

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 373067577285129141199181
PBT 3853849781114182220236274
Adjustment 36159131216166
Changes in Working Capital 8-136-205-14-22-369-23
Tax Paid -12-16-24-25-22-29-43-59-62-76
Cash Flow From Investing Activity + -239102-12066205-55-15-46
Capex -14-16-11-20-10-11-31-26-28-29
Net Investments -1718107-1038811357-21-18
Others 8763-12201-36341
Cash Flow From Financing Activity + -2-41-16339-139-102-122-81-157-143
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid 000-1-0-0-0-0-0-0
Dividend Paid -2-2-1400-137-100-120-80-156-142
Others -0-39-2339-1-2-2-1-1-1
Net Cash Flow 12-26-24-0312527-8

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)8.1610.3117.8623.6319.8633.4953.7957.5652.5852.28
ROCE (%)11.5614.6726.1832.4627.5745.3672.4778.4571.2669.97
Asset Turnover Ratio1.261.211.571.681.642.222.442.482.372.33
PAT to CFO Conversion(x)1.370.811.160.81.221.010.950.871.140.87
Working Capital Days
Receivable Days3335.4033.2038.6048.3046.8047.3049.1053.9056.80
Inventory Days43.4045.3038.2038.204035.7037.6033.8031.4032.10
Payable Days62.1069.9067.3072.3076.7077.7080.307073.5083.40

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Esab India Ltd FAQs

The current trading price of Esab india on 06-Jul-2026 14:50 is ₹5,725.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 05-Jul-2026 the market cap of Esab india stood at ₹8,955.4 Cr

The latest P/E ratio of Esab india as of 05-Jul-2026 is 43.33.

The latest P/B ratio of Esab india as of 05-Jul-2026 is 20.86.

The 52-week high of Esab india is ₹7,325 and the 52-week low is ₹4,714.6.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Esab india is ₹1,525 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Esab India Ltd is a good quality company.

The key valuation ratios of Esab India Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Esab India Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Esab India Ltd

ESAB India Limited was established in 1987 as a part of ESAB Group owned by the Charter International Plc.Group UK, which is listed on the London Stock Exchange. The Company is engaged in the business of fabrication technology. The company caters to both domestic and international markets.

The company directly export welding consumables and welding and cutting equipment to Nepal, Bhutan, Bangladesh, Sri Lanka, Kenya and Uganda. The company also exports products to Middle East, Asia Pacific, Europe and the USA through their group companies in Sweden, Singapore and Dubai..The company also in the business segment of Equipment, Consumables. 

Business area of the company

The company has a wide and comprehensive range of welding, cutting and allied products and services. The product range covers Welding Consumables, Reclamation Consumables, Arc Equipment, Industrial Gas Equipment, Cutting Machines and Working Environment Products for the specialised welding, cutting and allied needs. These are manufactured to stringent quality control measures in the state-of-the-art manufacturing units.

Products

  • Arc Welding Equipment
  • Cutting Automation
  • PPE & Accessories
  • Plasma
  • Welding Consumables
  • Gas Equipment
  • Welding Automation & Robotics
  • ESAB Digital Solutions (EDS)

History and milestones

  • 1904: A leader is born. Elektriska Svetsnings-Aktiebolaget (ESAB) founded in Göteborg by engineer Oscar Kjellberg. In the beginning, operations focused very clearly on the shipyards' repair requirements.
  • 1906: Innovation unfolds. The patent is granted for Kjellberg's unique invention - the world's first coated welding electrode.
  • 1912: The Anglo-Swedish Electric Welding Co Ltd, London, is founded.
  • 1914: The Belgian-Swedish Electric Welding Co Ltd (BSEW), Antwerp, is founded.
  • 1919: La Soudure Autogene Française uses Kjellberg's method to build the ship “SAF no. 4”. It is 20 metres long, 4 metres wide and 2.3 metres deep.
  • 1920: The all-welded workshop boat “ESAB IV”, 16 metres long and 4 metres wide, is launched.
  • 1920: Lloyd's Register of Shipping approves Kjellberg's welding method.
  • 1921: Kjellberg Elektroden & Maschinen GmbH, Berlin (later Kjellberg Elektroden & Maschinen GmbH, Finsterwalde) is set up.
  • 1932: ESAB-Iberica S.A., Madrid, Spain, is founded.
  • 1932: ESAB S.A., Brussels, Belgium, and PEAS in Prague in Czechoslovakia are established.
  • 1933: Welding Supplies Ltd., England, and ESAB-Denmark are set up.
  • 1935: ESAB-Elettrodi Rivestiti S.A., Milan, Italy is established.
  • 1936: The first issue of ESAB's publication Svetsaren is published.
  • 1937: Breakthrough development. The submerged arc welding method is invented, providing a versatile means of depositing large amounts of metal quickly, consistently, and safely.
  • 1938: Kjellberg-Eberle GmbH, Germany, is founded.
  • 1938: ESAB Norway is set up.
  • 1940: ESAB Welding Corporation in the USA is established.
  • 1942: The machine plant in Laxa is opened.
  • 1943: ESAB-Finland is founded.
  • 1944: Revolutionary technology. The new process of TIG welding (called Heliarc) is introduced, providing greater control over the weld for stronger, higher quality results.
  • 1950: Quantum leap. Gas metal arc welding (GMAW) or MIG/MAG welding is developed. Its versatility and speed help make it the most commonly used industrial welding process.
  • 1945: A new production plant for cutting machines is set up in Frankfurt.
  • 1950: ESAB-France is set up.
  • 1951: Electrode production begins in Perstorp, Sweden.
  • 1953: ESAB-Brazil is established.
  • 1955: Plasma cutting emerges. The Linde Division of Union Carbide invents the plasma arc for cutting metals. Linde later became L-Tec, which was eventually purchased by ESAB.
  • 1956: ESAB-Austria is founded.
  • 1958: ESAB Arc Rods Ltd. in Montreal is established.
  • 1958: Máquinas ESAB Lta in Rio de Janerio is set up.
  • 1962: A branch factory for cutting equipment is set up in Rodheim, Germany.
  • 1971: Leading KEBE employees part from the company and found HANCOCK GmbH in Dörnigheim, Germany.
  • 1972: ESAB Inc in the USA is founded.
  • 1972: A new electrode plant is built in Perstorp.
  • 1973: The black-and-yellow logotype is introduced.
  • 1974: ESAB-Ekman Welding pte in Singapore, ESAB-Iran Co, ESAB-Roman, Portugal, and ESAB Manufacturing Inc, USA, are set up.
  • 1975: The cutting division of ESAB moves to new production plant in Karben. ESAB Australia Pty ltd, Australia, is established.
  • 1977: ESAB acquires Sarazin Soudure in France.
  • 1977: New electrode plant in Milan opens.
  • 1977: KEBE-Ersatzteile is founded to guarantee delivery of spare parts for outdated flame cutting machinery.
  • 1981: ESAB takes over Varios Fabrieken B.V., The Netherlands.
  • 1981: ESAB acquires HANCOCK GmbH, one of British Oxygen's gas-cutting companies.
  • 1982: The merger of ESAB GmbH and HANCOCK GmbH, as ESAB-HANCOCK GmbH, Karben, takes place.
  • 1984: ESAB Canada Inc. is founded.
  • 1986: Filarc Welding Industries B.V., The Netherlands, is acquired.
  • 1987: ESAB India is formally incorporated.
  • 1987: Siderotermica s.p.a. in Italy is acquired.
  • 1989: The production of electrodes in Göteborg is transferred to Perstorp.
  • 1989: The new corporate symbol for The ESAB Group is introduced.
  • 1991: Takeover of Indian Oxygen Limited's (IOL) welding operation.
  • 1991: AB Ph Nederman & Co is acquired and the Working Environment Equipment business area is set up.
  • 1992: Flo-tech Welding & Cutting Systems Limited
  • 1992: The Friction Stir Welding process is invented by The Welding Institute (TWI) where ESAB participates as the only welding equipment manufacturer.
  • 1993: ESAB Vamberk in the Czech Republic is set up following the acquisition of the leading producer of consumables.
  • 1993: A welding consumables pioneer. Marathon Pac, a unique bulk pack for solid or flux-cored welding wire, is introduced.
  • 1994: Takeover of Maharashtra Weldaids Limited
  • 1994: ESAB is purchased by Charter plc of the U.K.
  • 1994: Nederman leaves the ESAB Group but is still a member of the Charter group of companies
  • 1996: First of its kind. ESAB's first friction-stir welding machine, SuperStir ™ , is supplied to Marine Aluminum of Norway.
  • 1998: ESAB acquires a majority holding in the Polish company Ozas, which manufactures welding machines and spares.
  • 1998: A majority holding in Fersab, the leading manufacturer of agglomerated flux in Poland, is acquired.
  • 1998: ESAB acquires AlcoTec Wire Company in U.S.A., the world's largest producer of aluminium wire.
  • 1998: ESAB receives a large order from Boeing and supplies FSW equipment for welding fuel tanks for space rockets.
  • 1999: ZAO ESAB-SVEL is set up in St Petersburg, Russia.
  • 1999: SIB S.p.a in Italy, is acquired. SIB is a production unit for non-alloyed MAG wires.
  • 1999: The ESAB Group identity is replaced with the black-and-yellow ESAB brand identity.
  • 1999: ESAB acquires the majority of the shares in Elektrody Baildon, Poland.
  • 2001: ESAB sets up a subsidiary in Moscow, Russia.
  • 2001: ESAB starts producing solid stainless steel wires in Vamberk in the Czech Republic.
  • 2002: ESAB establishes its headquarters in London, UK.
  • 2006: Greenfield plant at Irungattukottai, Sriperumpudur.
  • 2007: Global R&D centre formed for Consumables and Equipments at Chennai, Ambattur & Irungattukottai. This is now known as ESD (Engineering Services Division).
  • 2007: Charter plc increased its shareholding stake from 37% to 55% through Open Market offer.
  • 2008: ESAB Welding & Cutting Systems (100% subsidiary) merged with ESAB India Limited.
  • 2010: High-speed solution. High-speed submerged arc welding is developed, generating high quality welds at high productivity.
  • 2012: Next generation technology. ICE, the next generation in submerged arc welding technology, is advanced based on ESAB's leading Twin subarc process.
  • 2012: Colfax made an Open Offer in the market and increased the stake of the promoters from 55% to 73.72%.
  • 2015: Expanded Ambattur and Nagpur plant by moving all production facilities from Khardah to Ambattur in Chennai and Kamleshwar in Nagpur.
  • 2017: Expanded the Irungattukottai, Chennai plant by moving the equipment facilities from Taratala, Kolkata.
  • 2017: ESAB acquires TBi Industries GmbH, Germany.
  • 2018: ESAB acquires Sandvik(now renamed as Exaton) welding operations including production units in Scranton, Pennsylvania, and Sandviken, Sweden.
  • 2018: ESAB acquires European gas equipment leader Gas Control Equipment (GCE).
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