AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Change in Management 31 Jul - Biswadeep Banerjee retires 31 July 2026; Jalubula Venkata Koteswara Rao becomes SMP from 1 August 2026.
Source: Bse
Esab India Limited (ESABINDIA)
Small CapIndustrials stocks · Small cap · NSE
Esab India Limited operates in Welding Equipment, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals06 Oct 2026 · screener
Latest result28 Aug, 12:09 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
41NeutralSMA20 -8.0% / mo · MACD +
Stock trend: 35
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ESABINDIAD candles · FIT view-8.2%Latest close ₹5424.00 on 2026-10-19
Bar
-0.9%
RSI
39
MACD hist
8.59
52W pos
27%
2026-10-19O ₹5472.00H ₹5472.00L ₹5365.50C ₹5424.00Vol 2,333 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ESABINDIANifty India ManufacturingNifty 500
- ESABINDIA
- -8.0%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -2.4 pp
Chart stats
19 Oct 2026- From 52W high
- -25.9%
- 52W range position
- 27%
- ATR (14)
- 2.4%
- Volume vs 20D
- 0.80x
- Avg traded value
- ₹1.6 Cr
- 20D price channel
- ₹5,307.5 - ₹5,799
₹7,319.5
₹4,710 - ₹7,319.5
₹131.6
Latest completed session
20-session average
23.0% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE53
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +19.6% · PAT +36.6% YoY
Technical
Neutral41
Price trend and sector-relative-strength timing.
Valuation
Legacy model-296.1%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence82
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 90/100Rev +20% YoY · PAT +37% YoY · margin expansion · +6% QoQ · operating leverage
Filed 28 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹421 Cr | +19.6% | +6.3% |
| EBITDA | ₹79 Cr | +33.9% | +25.4% |
| Operating margin | 19.0% | +200 bps | +300 bps |
| PAT | ₹56 Cr | +36.6% | +27.3% |
| PAT margin | 13.3% | +165 bps | +219 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 158.00
- P/B
- 81.57
- EV/EBITDA
- 98.57
- Market Cap
- 8477.00Cr
Profitability
- ROE
- 59.30%
- ROCE
- 90.80%
- ROA
- 33.33%
- Dividend Y
- 1.36%
Growth (CAGR)
- Revenue 5Y
- 20.00%
- EPS 5Y
- 20.00%
- Revenue 3Y
- 4.00%
- EPS 3Y
- 4.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- 80.00×
- Altman Z
- 10.72
- Book Value
- 67.60
Cash Flow
- FCF Yield
- 0.21%
- FCF Positive Y
- 3/5
- OCF
- 43.00 Cr
- EPS TTM
- 34.84
Shareholding
- Promoter Hold
- 73.72%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 31%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 421+6.3% vs prev
Net Profit
₹ CrLatest: 56.0+27.3% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 39. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- Recent golden cross (SMA50 crossed above SMA200).
- SMA20 falling (~8.7% over last month) — short-term momentum negative.
- RSI(14) at 39 — sideways, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 26% off 52W high · 15% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
63
RS percentile
Stage 1 Base / Transition
1M return
-3.6%
3M return
-8.0%
6M return
-9.3%
1Y return
+8.8%
RS 1D
-2
RS 20D
+1
Sector rank
#2
Industry rank
#19
Stage evidence
- Price is within 7.6% of the 30-week proxy.
- The 30-week proxy changed +0.2% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 113.17+0.50%
RS vs Nifty 500113
Valuation & peers
U-Score 53 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 53 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation0/30
Growth12/25
Quality20/20
Balance Sheet12/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
53
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
53/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Quality contributes 20/20 to the score.
- Balance sheet contributes 12/15 to the score.
Main drags
- Fair-value margin of safety is negative at -296.1%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
158.0
PB
81.6
EV/EBITDA
98.6
ROE
59.3%
ROCE
90.8%
FCF Yield
0.2%
Debt/Equity
0.0
MoS
-296.1%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
53
Previous: 53
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-296.1%
Previous: -296.1%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
53
53
53
53
53
53
53
53
53
53
53
53
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹230.2
-2256.2% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹1,369.21
-296.1% MoS
PEG
11.62
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ADOR
Small
Ador Welding Limited
Industrial Machinery
match 82
63
22.7
15.8%
+42%
UNDERVALUED
SETL
Small
Standard Engineering Technology Limited
Industrial Machinery
match 60
28
100.0
10.7%
-105%
OVERVALUED
ISGEC
Small
Isgec Heavy Engineering Limited
Industrial Machinery
match 58
27
25.3
4.2%
-982%
OVERVALUED
SHANTIGEAR
Small
Shanthi Gears Limited
Industrial Machinery
match 57
45
65.4
19.0%
-61%
WATCHLIST
DEEDEV
Small
DEE Development Engineers Limited
Industrial Machinery
match 56
38
58.4
9.3%
-16%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Esab India Limited operates in Welding Equipment, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
82Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 94th percentile of the scored universe and 94th percentile within Industrials. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
0 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
94th percentile
overall median 67 · Industrials: 94th pctile, median 68 · Small: 96th pctile, median 66
Evidence depth
Financial-only
0 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
65
acceptable · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
82
strong · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 73.7%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.2%.
- ▸Debt/equity is 0.00.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Esab India Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual report
Reg. 34 (1) Annual Report. 29 Jul - Revised FY2025-26 annual report issued; corrected waste data and included AGM notices, director appointment, and dividend proposal.
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 7 Jul
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 3 Jul
Source: Bse
AnnouncementMay 2026
May 2026 · Announcement under Regulation 30 (LODR)-Cessation 30 Apr - Kevin Johnson resigns as nominee director effective 1 May 2026 after nomination withdrawal by ESAB Holdings.
Source: Bse
AnnouncementMay 2026
May 2026 · Announcement under Regulation 30 (LODR)-Resignation of Director 30 Apr - Kevin Johnson resigns as nominee director effective 1 May 2026.
Source: Bse
AnnouncementMay 2026
May 2026 · Announcement under Regulation 30 (LODR)-Change in Management 30 Apr - Curtis Evan Jewell appointed Non-Executive Nominee Director and Chairman effective 1 May 2026.
Source: Bse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Bse
Annual report
Corrigendum To The Annual Report 2025-26 7 Jul - Corrigendum to FY26 annual report; adds tax disputes of Rs268 lakh and corrects remuneration figures.
Source: Bse
Annual report
Notice Of 39Th Annual General Meeting And Annual Report For The Financial Year 2025-26 Under Regulation 30 And 34(1) Of SEBI (LODR), Regulations, 2015 3 Jul
Source: Bse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.