Esab India

OPM falls

Feb 08, 2019 03:02 IST capital market

For the quarter ended December 2018, Esab India registered 21% jump in sales to Rs 152.64 crore. OPM fell 270 basis points to 8.9% which saw OP fall 7% to Rs 13.62 crore.

Other income grew 140% to Rs 5.65 crore and depreciation went up 5% to Rs 2.727 crore.

Thus PBT grew 15% to Rs 16.55 crore.

Tax provision was higher by 4% to Rs 5.00 crore. Thus net profit went up 20% to Rs 11.55 crore.

Nine months results

For the nine months, Esab India registered 26% jump in sales to Rs 490.73 crore. OPM improved 30 basis points to 11.1% which saw OP grow 29% to Rs 54.50 crore.

Other income grew 83% to Rs 14.84 crore and depreciation went up 5% to Rs 8.02 crore.

Thus PBT jumped 44% to Rs 61.32 crore.

EO loss was Rs 68 lakh against Rs 1.14 crore. Thus PBT after EO grew 47% to Rs 60.64 crore.

The company undertook a restructuring exercise during the previous years at Taratala involving optimizing its capacities, which had resulted in impairment of property, plant and equipment amounting to NIL (9 months period ended December 31, 2018 : Rs. 68 lakhs and for the 9 months period ended December 31 , 2017 : Rs 114 lakhs). This is shown as EO.

Tax provision was higher by 47% to Rs 19.41 crore. Thus net profit jumped 47% to Rs 41.23 crore.

Valuation

The stock trades at Rs 867.

Esab India: Results

 

1812 (3)1712 (3)Var. (%)1812 (9)1712 (9)Var. (%)1803 (12)1703 (12)Var. (%)
Net sales152.64126.3921490.73389.9726543.56510.097
OPM (%)8.911.611.110.89.78.6
OP13.6214.64-754.5042.112952.5943.7220
Other inc.5.652.3514014.848.118312.0213.33-10
PBIDT19.2716.991369.3450.223864.6157.0513
Interest0.000.00--0.000.00--0.000.00--
PBDT19.2716.991369.3450.223864.6157.0513
Dep.2.722.5958.027.61510.0910.27-2
PBT before EO16.5514.401561.3242.614454.5246.7817
EO0.000.00--0.681.44-531.889.11-79
PBT16.5514.401560.6441.174752.6437.6740
Tax5.004.80419.4113.214715.4910.8143
PAT11.559.602041.2327.964737.1526.8638
EPS (Rs)*####25.021.7
* Paid up equity capital is Rs 15.39 crore, Face value Rs 10
Figures in crore
PL: Profit to Loss LP: Loss to Profit
EO: Extraordinary items
EPS excludes EO and relevant tax
Source: Capitaline Databases

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