Esab India - Q4FY21 First Cut - ICICI Direct

(CMP: Rs. 1887; MCap: Rs. 2905 crore)

Esab India reported a decent set of numbers for Q4FY21. While Revenue grew by 18.3% amid continued recovery seen in infrastructure, automotive, engineering and metals sectors, EBITDA margins contracted marginally by 40bps on YoY to 13.9% owing to increased raw material cost and product mix.

Q4FY21 Earnings Summary

- Esab India Ltd (EIL) reported decent Q4FY21 numbers on revenue front which came in at Rs. 207 crore, up by 18.3% on YoY basis and 12.5% on QoQ basis owing to gradual revival happening infrastructure, automotive, engineering and metals sectors

- EBITDA came in at Rs. 28.8 crore, up by 15.3% on YoY basis while EBITDA margins came in at 13.9% declining by 40bps on YoY basis while it improved by 320bps on QoQ basis. Gross margins declined by 300 bps to 36.4% on YoY basis while it improved by 160bps on QoQ basis primarily due higher raw material cost impacting gross margins

- PAT came in at Rs. 19.7 crore, up by 9.1%, YoY partly impacted by lower other income which came in at Rs. 1.5 crore with a decline of 61.1% on YoY basis

Shares of ESAB INDIA LTD. was last trading in BSE at Rs.1887.15 as compared to the previous close of Rs. 1868.5. The total number of shares traded during the day was 1956 in over 320 trades.

The stock hit an intraday high of Rs. 1925.05 and intraday low of 1852. The net turnover during the day was Rs. 3721872.

Source : Equity Bulls

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