Esab India Ltd.
ESAB India Limited manufactures and sells welding and cutting equipment and consumables in India and internationally. The company offers gas equipment, such as cutting machines, H/VAC and plumbing, outfits, regulators, safety accessories, torches, and wear parts; arc gouging and exothermic cutting; manual plasma cutting products; filler metals, including aluminum, copper, hard facing, low alloy, mild steel, nickel, stainless steel, and other; cutting automation products comprising controls, cutting machines, gas cutting torches, plasma systems, process tools, and software; general supplies; plasma and welding equipment accessories; PPE products and accessories consisting of helmets and head protection products, gloves, clothes, eye protection products, and accessories; cobots; robotic feeders, power sources, torch cleaning stations, and torches, as well as weld data monitoring and software; standard, and air and water cooled torches; welders and wire feeders; power supplies; welding tractors; and digital solutions. It also provides engineering, support, and consulting services. The company sells its products under the AlcoTec, AMI, Arcair, Cigweld, Conarco, Condor, Exaton, Ewac, Firepower, Gasarc, GCE, InduSuite, Losarc, Octopuz, Soldexa, Stoody, Swift-Cut, TBi Industries, Thermal Dynamics, Thermal Dynamics Automation, Turbotorch, Tweco, Victor, and Westarco brands. It serves nuclear welding, wind energy, petrochemical, pipeline, LNG, repair and maintenance, mobile machinery, and shipbuilding solutions industries. The company was incorporated in 1987 and is headquartered in Chennai, India.
Valuation
Profitability
Returns
Solvency
AI Summary
Indian StockRule-based from financial data. Not advice.
Historically, Nov has averaged the highest return (+8.1%); Jan the lowest (-7.6%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -8.3%Negative MonthJan 2026: -8.28% | -1.2%Neutral MonthFeb 2026: -1.23% | -10.3%Negative MonthMar 2026: -10.34% | +26.6%Positive MonthApr 2026: +26.64% | +12.4%Positive MonthMay 2026: +12.42% | -19.1%Negative MonthJun 2026: -19.13% | -1.3%Neutral MonthJul 2026: -1.31% | +10.0%*Positive MonthAug 2026: +9.99% | β | β | β | β |
| 2025 | -14.5%Negative MonthJan 2025: -14.50% | -10.5%Negative MonthFeb 2025: -10.48% | +0.6%Neutral MonthMar 2025: +0.55% | +2.5%Positive MonthApr 2025: +2.46% | +7.9%Positive MonthMay 2025: +7.89% | +2.7%Positive MonthJun 2025: +2.74% | +2.9%Positive MonthJul 2025: +2.92% | -3.5%Negative MonthAug 2025: -3.51% | -4.0%Negative MonthSep 2025: -3.97% | -0.2%Neutral MonthOct 2025: -0.25% | +15.0%Positive MonthNov 2025: +15.00% | +8.0%Positive MonthDec 2025: +7.97% |
| 2024 | -6.4%Negative MonthJan 2024: -6.39% | -7.9%Negative MonthFeb 2024: -7.91% | +3.8%Positive MonthMar 2024: +3.77% | +1.3%Neutral MonthApr 2024: +1.31% | -0.1%Neutral MonthMay 2024: -0.07% | +13.8%Positive MonthJun 2024: +13.79% | +5.5%Positive MonthJul 2024: +5.53% | -5.6%Negative MonthAug 2024: -5.56% | +2.4%Positive MonthSep 2024: +2.38% | +3.6%Positive MonthOct 2024: +3.63% | -5.5%Negative MonthNov 2024: -5.54% | -2.3%Negative MonthDec 2024: -2.33% |
| 2023 | -4.5%Negative MonthJan 2023: -4.51% | -4.8%Negative MonthFeb 2023: -4.75% | -5.7%Negative MonthMar 2023: -5.73% | -1.6%Neutral MonthApr 2023: -1.62% | +11.1%Positive MonthMay 2023: +11.05% | +3.0%Positive MonthJun 2023: +3.02% | +20.9%Positive MonthJul 2023: +20.88% | +12.4%Positive MonthAug 2023: +12.42% | -6.3%Negative MonthSep 2023: -6.32% | +14.5%Positive MonthOct 2023: +14.52% | +2.0%Positive MonthNov 2023: +2.01% | -0.7%Neutral MonthDec 2023: -0.70% |
| 2022 | -4.5%Negative MonthJan 2022: -4.48% | -12.3%Negative MonthFeb 2022: -12.28% | +7.6%Positive MonthMar 2022: +7.63% | +9.4%Positive MonthApr 2022: +9.43% | -3.9%Negative MonthMay 2022: -3.87% | +10.8%Positive MonthJun 2022: +10.83% | -6.3%Negative MonthJul 2022: -6.34% | -1.9%Neutral MonthAug 2022: -1.95% | +12.1%Positive MonthSep 2022: +12.11% | -7.4%Negative MonthOct 2022: -7.44% | +23.2%Positive MonthNov 2022: +23.22% | -0.6%Neutral MonthDec 2022: -0.63% |
| 2021 | β | β | β | β | β | +0.6%Neutral MonthJun 2021: +0.57% | +2.9%Positive MonthJul 2021: +2.90% | +15.9%Positive MonthAug 2021: +15.91% | -0.5%Neutral MonthSep 2021: -0.54% | +15.7%Positive MonthOct 2021: +15.65% | +5.6%Positive MonthNov 2021: +5.59% | +25.5%Positive MonthDec 2021: +25.54% |
| AvgΒ±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation β the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position β all Januaries together, all Februaries together, and so on β to show whether a given month has leaned positive or negative historically. βSimpleβ counts each month as +1 or β1. βWeightedβ gives larger moves more influence: +2 above +10%, β2 below β10%. With only 6 years of history for this asset, each monthβs score reflects a small number of observations β read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the assetβs full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each dayβs closing price by the price on January 1st of that year (or the assetβs first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen β at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in βAverage fromβ, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
Historical Performance
Revenue, profitability, and cash flow trends (βΉ Crores)
Revenue (10Y)
Operating Income (10Y)
Net Profit (10Y)
Operating Margin % (10Y)
Dividend Payout % (10Y)
Free Cash Flow (10Y)
Growth Summary
Latest fiscal year: Mar 2025
Historical Growth
Year-by-year revenue, profitability, and cash flow (βΉ Crores, last 10 years)
| Year | Revenue | Op. Income | Net Profit | CFO | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|---|
| Mar 2025 | βΉ1.37 K Cr | β | βΉ175.00 Cr | β | β | β | 10.5% | 7.4% |
| Mar 2024 | βΉ1.24 K Cr | β | βΉ163.00 Cr | β | β | β | 13.9% | 19.9% |
| Mar 2023 | βΉ1.09 K Cr | β | βΉ136.00 Cr | β | β | β | 21.8% | 61.9% |
| Mar 2022 | βΉ896.00 Cr | β | βΉ84.00 Cr | β | β | β | 31.6% | 42.4% |
| Mar 2021 | βΉ681.00 Cr | β | βΉ59.00 Cr | β | β | β | -2.4% | -16.9% |
| Mar 2020 | βΉ698.00 Cr | β | βΉ71.00 Cr | β | β | β | 3.9% | 22.4% |
| Mar 2019 | βΉ672.00 Cr | β | βΉ58.00 Cr | β | β | β | 23.8% | 56.8% |
| Mar 2018 | βΉ543.00 Cr | β | βΉ37.00 Cr | β | β | β | 16.5% | 37.0% |
| Mar 2017 | βΉ466.00 Cr | β | βΉ27.00 Cr | β | β | β | 3.3% | -3.6% |
| Mar 2016 | βΉ451.00 Cr | β | βΉ28.00 Cr | β | β | β | -18.3% | 16.7% |
Financial Statements
Income statement, balance sheet, and cash flow (βΉ Crores, as reported)
Consolidated Figures in USD Millions.
| Unnamed: 0 | Dec 2013 | Mar 2015 15m | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Net Sales | 434 | 552 | 451 | 466 | 543 | 672 | 698 | 681 | 896 | 1,091 | 1,243 | 1,373 | 1,480 |
| Total Expenses | 383 | 507 | 406 | 422 | 491 | 593 | 601 | 598 | 775 | 904 | 1,014 | 1,129 | 1,207 |
| EBIT / Operating Profit | 51 | 45 | 45 | 44 | 52 | 79 | 97 | 83 | 121 | 187 | 229 | 245 | 273 |
| OPM % | 12 | 8 | 10 | 9 | 10 | 12 | 14 | 12 | 13 | 17 | 18 | 18 | 18 |
| Other Income | 8 | 0 | 6 | 4 | 11 | 16 | 14 | 11 | 5 | 8 | 6 | 8 | 24 |
| Finance Costs | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 1 | 0 | 2 | 2 | 3 |
| Depreciation & Amortisation | 11 | 14 | 10 | 10 | 10 | 11 | 13 | 12 | 11 | 12 | 14 | 15 | 17 |
| Profit Before Tax | 47 | 31 | 41 | 38 | 53 | 84 | 97 | 81 | 114 | 182 | 220 | 236 | 277 |
| Tax % | 30 | 23 | 31 | 29 | 29 | 32 | 27 | 26 | 26 | 26 | 26 | 26 | - |
| Net Profit / PAT | 33 | 24 | 28 | 27 | 37 | 58 | 71 | 59 | 84 | 136 | 163 | 175 | 211 |
| EPS (βΉ) | 21.52 | 15.36 | 18.41 | 17.45 | 24.13 | 37.41 | 46.39 | 38.52 | 54.77 | 88.14 | 105.88 | 113.96 | 136.79 |
| Dividend Payout % | 5 | 7 | 5 | 6 | 4 | 241 | 151 | 114 | 110 | 88 | 81 | 79 | - |
Peer Comparison
Industrials sector peers, ranked by market cap
| Company | Market Cap | Revenue | P/E | P/B | EV/EBITDA | Rev G 1Y |
|---|---|---|---|---|---|---|
| Esab India Ltd.this co. | βΉ8.66 K Cr | βΉ1.37 K Cr | 47.10 | 20.77 | 0.00 | 10.5% |
| Larsen & Toubro Limited | βΉ5.35 L Cr | βΉ1.43 L Cr | 52.20 | 7.87 | 34.29 | 12.9% |
| Adani Ports and Special Economic Zone Ltd | βΉ3.29 L Cr | βΉ7.91 K Cr | 159.00 | 10.36 | 62.82 | 16.2% |
| Solar Industries India Limited | βΉ1.15 L Cr | βΉ4.46 K Cr | 121.00 | 32.81 | 128.61 | 19.9% |
| Polycab India Limited | βΉ1.14 L Cr | βΉ21.91 K Cr | 46.90 | 10.84 | 42.32 | 21.4% |
| Cummins India Ltd. | βΉ1.10 L Cr | βΉ10.34 K Cr | 49.50 | 15.01 | 47.01 | 15.4% |
| Ashok Leyland Ltd. | βΉ1.09 L Cr | βΉ38.75 K Cr | 32.00 | 9.49 | 22.91 | 1.0% |
| Industry Average | β | βΉ5.40 K Cr | 57.83 | 7.16 | 40.88 | 45.0% |
