Esab India’s Q2FY16 net profit grows by 24% yoy

Company’s revenue stood at Rs. 116.48 crore, registering growth of 7.04% yoy and 6.89% qoq

November 05, 2015 2:59 IST | India Infoline News Service
Esab India, world's largest supplier of welding and cutting equipment, reported standalone net profit of Rs. 6.19 crore registered growth of 24.29% yoy and (20.74%) qoq. Company’s revenue stood at Rs. 116.48 crore, registering growth of 7.04% yoy and 6.89% qoq

It’s standalone core operating profit at Rs. 12.16 crore, witnessed 53.14% yoy  and (0.73%) qoq growth. Operating margin at 10.43% expanded by 314 bps yoy and declined by 80 bps qoq.
For six months ended September 30, 2015, the company’s standalone net profit at Rs. 14 crore, increased by 22.05%.  The company's revenue stood at Rs. 225.20 crore, up by 1.12% yoy.

Standalone EPS for the quarter stood at Rs. 4.02. 

Stock Commentary:

Esab India Ltd is currently trading at Rs. 551.25, down by Rs. 7.75 or 1.39% from its previous closing of Rs. 559 on the BSE.
The scrip opened at Rs. 556 and has touched a high and low of Rs. 556 and Rs. 551.25 respectively. So far 313(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 860.3 crore.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 746 on 04-Mar-2015 and a 52 week low of Rs. 530.25 on 10-Sep-2015. Last one week high and low of the scrip stood at Rs. 579 and Rs. 551.25 respectively.
The promoters holding in the company stood at 73.72 % while Institutions and Non-Institutions held 2.14 % and 24.13 % respectively.
The stock is currently trading above its 200 DMA.

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