Esab India Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: September 15, 2025, 8:22 pm

Quick Insight

Esab India Ltd, a leading player in the welding equipment industry, commands a market capitalization of ₹7,814 Cr. With a Price/Earnings ratio of 45.4x, the company's high Return on Equity (52.3%) and Return on Capital Employed (70.0%) point to efficient utilization of resources. Its Operating Profit Margin of 17% underscores operational effectiveness, contributing to a Net Profit of ₹175 Cr. The company's robust financial position is further supported by healthy Reserves of ₹346 Cr and minimal Borrowings of ₹4 Cr, resulting in an Interest Coverage Ratio of 557.55x. Notably, Esab India boasts a strong Current Ratio, with a Cash Conversion Cycle of 31 days, indicating efficient management of working capital.

However, despite these strengths, investors should be mindful of the company's relatively high Price-to-Book Value of 26.44x, suggesting a premium valuation compared to industry peers. Additionally, the heavy promoter holding of 73.72% may raise concerns regarding liquidity and corporate governance issues. Looking ahead, Esab India's growth prospects could be bolstered by expanding its product portfolio to capitalize on the rising demand for welding equipment in sectors like infrastructure and manufacturing. On the flip side, increased competition or a slowdown in key end-user industries could pose risks to the company's performance.

In conclusion, Esab India's solid financial metrics and market positioning underscore its resilience in the welding equipment segment. While the company exhibits strong fundamentals, investors should carefully monitor valuation levels and industry dynamics to make informed investment decisions in this sector.

Competitors of Esab India Ltd

All Competitor Stocks of Esab India Ltd

Quarterly Result

Last Updated: August 20, 2025, 11:05 am

Below is a detailed analysis of the quarterly data for Esab India Ltd based on the most recent figures (Jun 2025) and their trends compared to the previous period:

• For Sales, as of Jun 2025, the value is 352.00 Cr.. The value appears to be declining and may need further review. It has decreased from 368.00 Cr. (Mar 2025) to 352.00 Cr., marking a decrease of 16.00 Cr..
• For Expenses, as of Jun 2025, the value is 293.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 302.00 Cr. (Mar 2025) to 293.00 Cr., marking a decrease of 9.00 Cr..
• For Operating Profit, as of Jun 2025, the value is 59.00 Cr.. The value appears to be declining and may need further review. It has decreased from 66.00 Cr. (Mar 2025) to 59.00 Cr., marking a decrease of 7.00 Cr..
• For OPM %, as of Jun 2025, the value is 17.00%. The value appears to be declining and may need further review. It has decreased from 18.00% (Mar 2025) to 17.00%, marking a decrease of 1.00%.
• For Other Income, as of Jun 2025, the value is 1.00 Cr.. The value appears to be declining and may need further review. It has decreased from 2.00 Cr. (Mar 2025) to 1.00 Cr., marking a decrease of 1.00 Cr..
• For Interest, as of Jun 2025, the value is 1.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 1.00 Cr..
• For Depreciation, as of Jun 2025, the value is 4.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 4.00 Cr..
• For Profit before tax, as of Jun 2025, the value is 55.00 Cr.. The value appears to be declining and may need further review. It has decreased from 63.00 Cr. (Mar 2025) to 55.00 Cr., marking a decrease of 8.00 Cr..
• For Tax %, as of Jun 2025, the value is 26.00%. The value appears to be increasing, which may not be favorable. It has increased from 24.00% (Mar 2025) to 26.00%, marking an increase of 2.00%.
• For Net Profit, as of Jun 2025, the value is 41.00 Cr.. The value appears to be declining and may need further review. It has decreased from 47.00 Cr. (Mar 2025) to 41.00 Cr., marking a decrease of 6.00 Cr..
• For EPS in Rs, as of Jun 2025, the value is 26.60. The value appears to be declining and may need further review. It has decreased from 30.81 (Mar 2025) to 26.60, marking a decrease of 4.21.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Profit & Loss - Annual Report

Last Updated: September 15, 2025, 5:09 am

Growth

Last Updated: September 5, 2025, 3:40 am

Balance Sheet

Last Updated: June 16, 2025, 12:11 pm

Below is a detailed analysis of the balance sheet data for Esab India Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

• For Equity Capital, as of Mar 2025, the value is 15.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 15.00 Cr..
• For Reserves, as of Mar 2025, the value is 346.00 Cr.. The value appears strong and on an upward trend. It has increased from 291.00 Cr. (Mar 2024) to 346.00 Cr., marking an increase of 55.00 Cr..
• For Borrowings, as of Mar 2025, the value is 4.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from 5.00 Cr. (Mar 2024) to 4.00 Cr., marking a decrease of 1.00 Cr..
• For Other Liabilities, as of Mar 2025, the value is 282.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 240.00 Cr. (Mar 2024) to 282.00 Cr., marking an increase of 42.00 Cr..
• For Total Liabilities, as of Mar 2025, the value is 647.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 551.00 Cr. (Mar 2024) to 647.00 Cr., marking an increase of 96.00 Cr..
• For Fixed Assets, as of Mar 2025, the value is 136.00 Cr.. The value appears strong and on an upward trend. It has increased from 125.00 Cr. (Mar 2024) to 136.00 Cr., marking an increase of 11.00 Cr..
• For CWIP, as of Mar 2025, the value is 9.00 Cr.. The value appears strong and on an upward trend. It has increased from 4.00 Cr. (Mar 2024) to 9.00 Cr., marking an increase of 5.00 Cr..
• For Investments, as of Mar 2025, the value is 24.00 Cr.. The value appears strong and on an upward trend. It has increased from 0.00 Cr. (Mar 2024) to 24.00 Cr., marking an increase of 24.00 Cr..
• For Other Assets, as of Mar 2025, the value is 478.00 Cr.. The value appears strong and on an upward trend. It has increased from 421.00 Cr. (Mar 2024) to 478.00 Cr., marking an increase of 57.00 Cr..
• For Total Assets, as of Mar 2025, the value is 647.00 Cr.. The value appears strong and on an upward trend. It has increased from 551.00 Cr. (Mar 2024) to 647.00 Cr., marking an increase of 96.00 Cr..

Notably, the Reserves (346.00 Cr.) exceed the Borrowings (4.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Cash Flow

Free Cash Flow

Financial Efficiency Indicators

Share Holding Pattern

Mutual Fund Holdings

Key Financial Ratios

After reviewing the key financial ratios for Esab India Ltd, here is a detailed analysis based on the latest available data and recent trends:

• For FaceValue, as of Mar 24, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 10.00.
• For Basic EPS (Rs.), as of Mar 24, the value is 105.90. This value is within the healthy range. It has increased from 88.16 (Mar 23) to 105.90, marking an increase of 17.74.
• For Diluted EPS (Rs.), as of Mar 24, the value is 105.90. This value is within the healthy range. It has increased from 88.16 (Mar 23) to 105.90, marking an increase of 17.74.
• For Cash EPS (Rs.), as of Mar 24, the value is 114.86. This value is within the healthy range. It has increased from 95.88 (Mar 23) to 114.86, marking an increase of 18.98.
• For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 198.87. It has increased from 169.12 (Mar 23) to 198.87, marking an increase of 29.75.
• For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 198.87. It has increased from 169.12 (Mar 23) to 198.87, marking an increase of 29.75.
• For Dividend / Share (Rs.), as of Mar 24, the value is 86.00. This value exceeds the healthy maximum of 3. It has increased from 78.00 (Mar 23) to 86.00, marking an increase of 8.00.
• For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 807.88. It has increased from 708.77 (Mar 23) to 807.88, marking an increase of 99.11.
• For PBDIT / Share (Rs.), as of Mar 24, the value is 152.16. This value is within the healthy range. It has increased from 126.37 (Mar 23) to 152.16, marking an increase of 25.79.
• For PBIT / Share (Rs.), as of Mar 24, the value is 143.20. This value is within the healthy range. It has increased from 118.65 (Mar 23) to 143.20, marking an increase of 24.55.
• For PBT / Share (Rs.), as of Mar 24, the value is 142.92. This value is within the healthy range. It has increased from 118.45 (Mar 23) to 142.92, marking an increase of 24.47.
• For Net Profit / Share (Rs.), as of Mar 24, the value is 105.90. This value is within the healthy range. It has increased from 88.16 (Mar 23) to 105.90, marking an increase of 17.74.
• For PBDIT Margin (%), as of Mar 24, the value is 18.83. This value is within the healthy range. It has increased from 17.82 (Mar 23) to 18.83, marking an increase of 1.01.
• For PBIT Margin (%), as of Mar 24, the value is 17.72. This value is within the healthy range. It has increased from 16.74 (Mar 23) to 17.72, marking an increase of 0.98.
• For PBT Margin (%), as of Mar 24, the value is 17.69. This value is within the healthy range. It has increased from 16.71 (Mar 23) to 17.69, marking an increase of 0.98.
• For Net Profit Margin (%), as of Mar 24, the value is 13.10. This value exceeds the healthy maximum of 10. It has increased from 12.43 (Mar 23) to 13.10, marking an increase of 0.67.
• For Return on Networth / Equity (%), as of Mar 24, the value is 53.25. This value is within the healthy range. It has increased from 52.13 (Mar 23) to 53.25, marking an increase of 1.12.
• For Return on Capital Employeed (%), as of Mar 24, the value is 69.55. This value is within the healthy range. It has increased from 67.53 (Mar 23) to 69.55, marking an increase of 2.02.
• For Return On Assets (%), as of Mar 24, the value is 29.57. This value is within the healthy range. It has increased from 28.62 (Mar 23) to 29.57, marking an increase of 0.95.
• For Asset Turnover Ratio (%), as of Mar 24, the value is 2.43. It has increased from 2.40 (Mar 23) to 2.43, marking an increase of 0.03.
• For Current Ratio (X), as of Mar 24, the value is 1.75. This value is within the healthy range. It has increased from 1.72 (Mar 23) to 1.75, marking an increase of 0.03.
• For Quick Ratio (X), as of Mar 24, the value is 1.27. This value is within the healthy range. It has increased from 1.12 (Mar 23) to 1.27, marking an increase of 0.15.
• For Inventory Turnover Ratio (X), as of Mar 24, the value is 4.85. This value is within the healthy range. It has increased from 4.59 (Mar 23) to 4.85, marking an increase of 0.26.
• For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 71.78. This value exceeds the healthy maximum of 50. It has decreased from 88.49 (Mar 23) to 71.78, marking a decrease of 16.71.
• For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 66.18. This value exceeds the healthy maximum of 50. It has decreased from 81.37 (Mar 23) to 66.18, marking a decrease of 15.19.
• For Earning Retention Ratio (%), as of Mar 24, the value is 28.22. This value is below the healthy minimum of 40. It has increased from 11.51 (Mar 23) to 28.22, marking an increase of 16.71.
• For Cash Earning Retention Ratio (%), as of Mar 24, the value is 33.82. This value is below the healthy minimum of 40. It has increased from 18.63 (Mar 23) to 33.82, marking an increase of 15.19.
• For Interest Coverage Ratio (X), as of Mar 24, the value is 557.55. This value is within the healthy range. It has decreased from 627.35 (Mar 23) to 557.55, marking a decrease of 69.80.
• For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 389.05. This value is within the healthy range. It has decreased from 438.68 (Mar 23) to 389.05, marking a decrease of 49.63.
• For Enterprise Value (Cr.), as of Mar 24, the value is 8,003.20. It has increased from 5,385.84 (Mar 23) to 8,003.20, marking an increase of 2,617.36.
• For EV / Net Operating Revenue (X), as of Mar 24, the value is 6.44. This value exceeds the healthy maximum of 3. It has increased from 4.94 (Mar 23) to 6.44, marking an increase of 1.50.
• For EV / EBITDA (X), as of Mar 24, the value is 34.18. This value exceeds the healthy maximum of 15. It has increased from 27.69 (Mar 23) to 34.18, marking an increase of 6.49.
• For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 6.51. This value exceeds the healthy maximum of 3. It has increased from 4.99 (Mar 23) to 6.51, marking an increase of 1.52.
• For Retention Ratios (%), as of Mar 24, the value is 28.21. This value is below the healthy minimum of 30. It has increased from 11.50 (Mar 23) to 28.21, marking an increase of 16.71.
• For Price / BV (X), as of Mar 24, the value is 26.44. This value exceeds the healthy maximum of 3. It has increased from 20.91 (Mar 23) to 26.44, marking an increase of 5.53.
• For Price / Net Operating Revenue (X), as of Mar 24, the value is 6.51. This value exceeds the healthy maximum of 3. It has increased from 4.99 (Mar 23) to 6.51, marking an increase of 1.52.
• For EarningsYield, as of Mar 24, the value is 0.02. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 23) which recorded 0.02.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Fair Value

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Strength and Weakness