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Esab India Limited
(ESABINDIA)
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Rating:79Outperform
Price Target:
₹6,027.00
▼(-0.78% Downside)
Action:Reiterated
Date:08/30/26
The score is driven primarily by strong financial performance (high profitability, very low leverage, and strong ROE), supported by a positive technical setup (price above major moving averages with healthy momentum). Offsetting these positives, valuation is a key constraint due to the elevated P/E and only modest dividend yield.
Positive Factors
Improving profitability
Improving net and operating margins indicate stronger earnings quality and operating profitability over time. If maintained, this performance can support reinvestment, strengthen resilience across industrial end markets, and provide a durable foundation for earnings growth.
Negative Factors
Gross-margin volatility
The history of gross-margin volatility suggests profitability can be sensitive to input costs or pricing conditions. Even with recent recovery, renewed pressure could reduce operating leverage, moderate earnings growth, and make future margin performance less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving profitability
Improving net and operating margins indicate stronger earnings quality and operating profitability over time. If maintained, this performance can support reinvestment, strengthen resilience across industrial end markets, and provide a durable foundation for earnings growth.
Read all positive factors
Esab India Limited (ESABINDIA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹81.03B
Dividend Yield1.43%
Average Volume (3M)160.00
Price to Earnings (P/E)36.5
Beta (1Y)0.88
Revenue Growth12.99%
EPS Growth29.07%
CountryIN
Employees934
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)144.16
Shares Outstanding15,393,020
10 Day Avg. Volume117
30 Day Avg. Volume160
Financial Highlights & Ratios
PEG Ratio2.07
Price to Book (P/B)17.76
Price to Sales (P/S)5.06
P/FCF Ratio50.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Esab India Limited Business Overview & Revenue Model
Company Description
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,...
Esab India Limited Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.77B | 15.08B | 13.73B | 12.39B | 10.91B | 8.96B |
| Gross Profit | 5.32B | 4.67B | 4.23B | 3.25B | 4.19B | 3.23B |
| EBITDA | 3.12B | 2.70B | 2.52B | 2.34B | 1.95B | 1.25B |
| Net Income | 2.22B | 2.07B | 1.75B | 1.63B | 1.36B | 843.10M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 6.99B | 6.47B | 5.51B | 4.74B | 4.36B |
| Cash, Cash Equivalents and Short-Term Investments | 1.04B | 1.16B | 1.02B | 473.40M | 499.50M | 671.70M |
| Total Debt | 0.00 | 33.50M | 39.30M | 45.70M | 40.10M | 26.80M |
| Total Liabilities | -4.29B | 2.69B | 2.86B | 2.45B | 2.14B | 1.92B |
| Stockholders Equity | 4.29B | 4.29B | 3.61B | 3.06B | 2.60B | 2.44B |
Cash Flow | ||||||
| Free Cash Flow | 328.10M | 1.50B | 1.72B | 1.13B | 954.80M | 733.30M |
| Operating Cash Flow | 492.20M | 1.82B | 2.00B | 1.41B | 1.29B | 845.30M |
| Investing Cash Flow | -107.00M | -469.60M | -159.10M | -549.90M | 51.70M | 199.60M |
| Financing Cash Flow | -651.20M | -1.42B | -1.57B | -811.20M | -1.22B | -1.02B |
Esab India Limited Technical Analysis
Negative
6074.60
Price Trends
5696.92
Negative
5718.52
Negative
5752.83
Negative
Market Momentum
-106.70
Positive
36.39
Neutral
45.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ESABINDIA, the sentiment is Negative. The current price of 6074.6 is above the 20-day moving average (MA) of 5413.30, above the 50-day MA of 5696.92, and above the 200-day MA of 5752.83, indicating a bearish trend. The MACD of -106.70 indicates Positive momentum. The RSI at 36.39 is Neutral, neither overbought nor oversold. The STOCH value of 45.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ESABINDIA.
Esab India Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ₹81.03B | 36.48 | ― | 1.43% | 12.99% | 29.07% | |
74 Outperform | ₹104.59B | 32.39 | ― | 0.97% | 17.84% | -2.60% | |
68 Neutral | ₹141.78B | 66.59 | ― | 0.97% | 22.51% | -40.67% | |
67 Neutral | ₹78.59B | 13.00 | ― | 0.52% | 19.70% | 82.32% | |
67 Neutral | ₹89.69B | 29.22 | ― | 0.08% | 27.23% | 21.70% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹33.82B | 78.62 | ― | 0.15% | 41.95% | -3.11% |
* General Sector Average
IN:ESABINDIA
Esab India Limited
5,263.90
416.68
8.60%
IN:GRAPHITE
Graphite India Limited
725.70
109.17
17.71%
IN:HEG
HEG Limited
238.30
24.80
11.61%
IN:HIRECT
Hind Rectifiers Limited
953.90
31.19
3.38%
IN:TARIL
Transformers and Rectifiers (India) Limited
298.80
-146.20
-32.85%
IN:VOLTAMP
Voltamp Transformers Limited
10,338.30
3,021.55
41.30%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.