ESABINDIA

Esab India Limited

Fabrication technology business supplying welding consumables and equipment

Industrials›Capital Goods›Industrial Products›Other Industrial Products

esabindia.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹5453.00
Market cap
8,394 Cr
Stock P/E
37.8
P/B
19.54
Dividend yield
1.7%
ROE (FY26)
48.1%
ROCE (FY26)
64.3%
Operating margin (FY26)
16.8%
OCF / EBITDA (FY26)
67.0%
OCF / EBITDA (3Y)
70.1%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

ESAB India is the Indian listed arm of the ESAB group (its ultimate parent is ESAB Corporation, USA) and runs a single business, fabrication technology, from its Chennai base.

Company snapshot

3rdBy market cap

Ranked among 13 companies in Other Industrial Products.

What we see

Positives
  • ✓Interest coverage of 122.1x — earnings comfortably cover interest obligations.
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Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales303 Cr301 Cr341 Cr330 Cr339 Cr337 Cr368 Cr352 Cr382 Cr379 Cr396 Cr421 Cr
Operating expenses (approx.)249 Cr248 Cr279 Cr268 Cr277 Cr282 Cr302 Cr293 Cr309 Cr303 Cr333 Cr342 Cr
EBITDA54 Cr54 Cr62 Cr62 Cr61 Cr55 Cr66 Cr59 Cr72 Cr76 Cr63 Cr79 Cr
OPM %17.9%17.8%18.3%18.8%18.2%16.4%17.9%16.8%18.9%20.0%15.9%18.8%
Other income1 Cr1 Cr1 Cr1 Cr1 Cr3 Cr2 Cr0.88 Cr2 Cr1 Cr2 Cr2 Cr
Interest0.10 Cr0.11 Cr0.12 Cr0.11 Cr0.11 Cr0.11 Cr1 Cr0.66 Cr0.40 Cr0.63 Cr0.38 Cr0.30 Cr
Depreciation3 Cr4 Cr4 Cr3 Cr4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr5 Cr
Profit before tax52 Cr51 Cr60 Cr60 Cr59 Cr55 Cr63 Cr55 Cr101 Cr58 Cr60 Cr76 Cr
Tax %26.2%25.7%26.2%25.7%26.6%25.9%24.1%25.7%21.6%26.1%27.0%26.2%
Net profit38 Cr38 Cr44 Cr44 Cr43 Cr40 Cr47 Cr41 Cr79 Cr43 Cr44 Cr56 Cr
EPS (₹)₹24.96₹24.66₹28.75₹28.88₹28.04₹26.24₹30.82₹26.60₹51.46₹27.94₹28.30₹36.48

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales510 Cr544 Cr672 Cr698 Cr681 Cr893 Cr1,091 Cr1,243 Cr1,373 Cr1,508 CrSign in free for the trailing twelve months
Operating expenses (approx.)475 Cr493 Cr593 Cr601 Cr600 Cr776 Cr904 Cr1,016 Cr1,129 Cr1,238 CrSign in free for the trailing twelve months
EBITDA35 Cr51 Cr79 Cr97 Cr81 Cr117 Cr187 Cr228 Cr245 Cr270 CrSign in free for the trailing twelve months
OPM %6.8%9.3%11.7%13.9%12.0%13.1%17.1%18.3%17.8%17.9%Sign in free for the trailing twelve months
Other income13 Cr12 Cr17 Cr14 Cr11 Cr8 Cr8 Cr6 Cr8 Cr6 CrSign in free for the trailing twelve months
Interest——0 Cr0.50 Cr0.41 Cr0.29 Cr0.31 Cr0.42 Cr2 Cr2 CrSign in free for the trailing twelve months
Depreciation10 Cr10 Cr11 Cr13 Cr12 Cr11 Cr12 Cr14 Cr15 Cr17 CrSign in free for the trailing twelve months
Profit before tax38 Cr53 Cr84 Cr97 Cr81 Cr114 Cr182 Cr220 Cr236 Cr274 CrSign in free for the trailing twelve months
Tax %28.7%29.4%31.6%26.6%26.4%25.8%25.6%25.9%25.6%24.6%Sign in free for the trailing twelve months
Net profit27 Cr37 Cr58 Cr71 Cr59 Cr84 Cr136 Cr163 Cr175 Cr207 CrSign in free for the trailing twelve months
EPS (₹)₹17.45₹24.13₹37.41₹46.40₹38.52₹54.78₹88.16₹105.90₹113.98₹134.30Sign in free for the trailing twelve months
Dividend payout %————231.1%118.7%88.5%49.1%89.1%68.5%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital15 Cr15 Cr15 Cr15 Cr15 Cr15 Cr15 Cr15 Cr15 Cr15 Cr
Reserves327 Cr363 Cr251 Cr322 Cr244 Cr229 Cr245 Cr291 Cr346 Cr414 Cr
Borrowings——————————
Other liabilities86 Cr102 Cr112 Cr122 Cr129 Cr192 Cr214 Cr245 Cr286 Cr269 Cr
Total liabilities428 Cr480 Cr379 Cr459 Cr388 Cr436 Cr474 Cr551 Cr647 Cr699 Cr
Fixed assets (net)74 Cr77 Cr81 Cr79 Cr85 Cr86 Cr88 Cr118 Cr129 Cr143 Cr
CWIP7 Cr8 Cr3 Cr7 Cr3 Cr3 Cr20 Cr4 Cr9 Cr6 Cr
Investments147 Cr125 Cr30 Cr70 Cr41 Cr31 Cr0.15 Cr0.44 Cr24 Cr44 Cr
Loans & advances——39 Cr0 Cr18 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Inventories63 Cr73 Cr68 Cr78 Cr73 Cr105 Cr123 Cr111 Cr131 Cr141 Cr
Trade receivables47 Cr59 Cr64 Cr85 Cr99 Cr134 Cr152 Cr189 Cr225 Cr254 Cr
Cash & bank39 Cr37 Cr43 Cr19 Cr19 Cr21 Cr33 Cr38 Cr65 Cr57 Cr
Other assets51 Cr102 Cr51 Cr122 Cr51 Cr56 Cr58 Cr89 Cr64 Cr54 Cr
Total assets428 Cr480 Cr379 Cr459 Cr388 Cr436 Cr474 Cr551 Cr647 Cr699 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity37 Cr30 Cr67 Cr57 Cr72 Cr85 Cr129 Cr141 Cr199 Cr181 Cr
Cash from investing-23 Cr9 Cr102 Cr-120 Cr84 Cr20 Cr5 Cr-55 Cr-15 Cr-46 Cr
Cash from financing-2 Cr-41 Cr-163 Cr39 Cr-156 Cr-102 Cr-122 Cr-81 Cr-157 Cr-143 Cr
Net cash flow12 Cr-2 Cr6 Cr-24 Cr-0.11 Cr3 Cr12 Cr5 Cr27 Cr-8 Cr
Free cash flow (OCF − Capex)22 Cr13 Cr55 Cr37 Cr62 Cr73 Cr96 Cr113 Cr171 Cr149 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %11.0%13.9%31.6%28.9%31.2%46.6%70.2%72.0%65.7%64.3%
ROE %7.8%9.8%21.6%21.1%22.9%34.5%52.1%53.3%48.6%48.1%
Debtor days33393444535551556061
Inventory days94916982868686717880
Days payable8793859211311910686116117
Cash conversion cycle41371834262331412124
OCF / EBITDA %105.5%58.6%85.5%59.1%88.8%72.2%69.2%61.9%81.3%67.0%
OCF / EBITDA % (3 years)——81.4%68.2%76.6%72.5%74.3%66.8%71.2%70.1%
Debt / equity——0.000.00——————
Current ratio3.783.862.593.132.371.801.711.741.732.14
Net debt / EBITDA-1.13-0.73-0.55-0.19-0.23-0.18-0.18-0.17-0.27-0.21