Esab India Ltd (ESABINDIA) — share price & stock analysis
Profits are up 27% in two years, the market has pre-paid for the next leg.
Esab India Ltd (ESABINDIA) trades at ₹5,716 as of 1 July 2026, up 7.9% over the past year — beating NIFTY 500 for 38 weeks. The machine reads this as steady growth, fairly priced: profits are up 27% in two years, the market has pre-paid for the next leg. It trades at a P/E of 45.4× (the 56th percentile of its own range); the price is in Stage 2 — advancing, 9 weeks in; the business cycle reads DEEP CYCLICAL / EXPANSION. Fundamentals-momentum score: 39/100 (deteriorating).
Data as of 1 July 2026 · every number traces to its Screener source column · not investment advice.
- Market cap
- ₹8,799 Cr
- P/E
- 45.4×
- ROE
- 49.0%
- vs own 10-yr valuation
- 56th pctile
- Book value / share
- ₹279
- EPS (TTM)
- ₹126
- 10-yr median P/E
- 43.7×
- Revenue (FY26)
- ₹1,508 Cr
- Profit after tax (FY26)
- ₹207 Cr
- Weinstein stage
- Stage 2 (9 weeks)
- Data as of
- 1 July 2026
Profits swing violently in this business — margins swinging 10 points peak to trough. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.net_profit
Where the clock stands now: earnings sit at 100% of their historical range, margins are near the top of their band, and the market pays mid-range (56th percentile). That reads as EXPANSION — the comfortable middle — but the records are already on the table; from here the bet is that they keep coming.net_profit
2 of the 6 things we track are currently moving the right way — most of the dashboard is red.
Where the levels actually stand: ROCE 65% — a high-quality engine; effectively no debt; margins near the top of their band. Momentum says which way things are moving; these say where they are.
Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.
The market has pre-paid for growth that hasn’t arrived yet
Since Mar 2016, the stock is up 829% while earnings per share grew 529%. The difference is re-rating — investors paying more for the same rupee of profit.pricettm_eps
That works until it doesn’t: from here, earnings have to do the lifting, because the multiple has already done its part.
Today’s P/E of 45.4× is the middle of its own range against its own 10-year history (56th percentile) — neither a bargain nor a stretch, by its own standards.pe_ratio
Data: Price, EPS and valuation (sampled — full series in the embedded dataset)
| Period | Price (₹) | EPS (TTM) (₹) | P/E (×) |
|---|---|---|---|
| Mar 16 | 650 | – | 31.9 |
| Jun 16 | 577 | 20.0 | 28.8 |
| Aug 16 | 577 | 20.9 | 27.6 |
| Oct 16 | 580 | 22.7 | 25.5 |
| Dec 16 | 578 | 23.2 | 25.4 |
| Mar 17 | 569 | 23.2 | 24.5 |
| May 17 | 625 | 22.9 | 27.3 |
| Jul 17 | 765 | 23.2 | 33.0 |
| Oct 17 | 948 | 22.2 | 42.6 |
| Dec 17 | 803 | 22.2 | 36.1 |
| Feb 18 | 806 | 24.7 | 32.7 |
| May 18 | 678 | 24.7 | 27.5 |
| Jul 18 | 630 | 25.0 | 25.2 |
| Sep 18 | 845 | 29.0 | 29.1 |
| Nov 18 | 1,027 | 32.2 | 31.9 |
| Feb 19 | 857 | 33.4 | 25.6 |
| Apr 19 | 886 | 33.4 | 26.5 |
| Jun 19 | 1,150 | 37.7 | 30.5 |
| Sep 19 | 993 | 38.4 | 25.9 |
| Nov 19 | 1,224 | 41.2 | 29.7 |
| Jan 20 | 1,404 | 41.3 | 34.0 |
| Apr 20 | 983 | 45.3 | 21.7 |
| Jun 20 | 1,413 | 45.3 | 31.2 |
| Aug 20 | 1,466 | 40.2 | 36.5 |
| Oct 20 | 1,325 | 40.2 | 33.0 |
| Jan 21 | 1,774 | 39.4 | 45.0 |
| Mar 21 | 1,875 | 37.4 | 50.1 |
| May 21 | 1,805 | 38.5 | 46.9 |
| Aug 21 | 1,935 | – | 51.1 |
| Oct 21 | 2,423 | 47.1 | 51.5 |
| Dec 21 | 3,197 | 51.0 | 62.7 |
| Mar 22 | 2,826 | 53.7 | 52.6 |
| May 22 | 3,295 | 53.8 | 61.3 |
| Jul 22 | 3,327 | 54.4 | 61.2 |
| Sep 22 | 3,654 | 58.2 | 62.8 |
| Dec 22 | 4,029 | 63.6 | 63.4 |
| Feb 23 | 4,092 | 74.8 | 54.7 |
| Apr 23 | 3,472 | 74.8 | 46.4 |
| Jul 23 | 4,142 | 88.1 | 47.0 |
| Sep 23 | 5,145 | 99.0 | 52.0 |
| Nov 23 | 6,100 | 103.2 | 59.1 |
| Feb 24 | 5,611 | 103.3 | 54.3 |
| Apr 24 | 5,091 | 104.3 | 48.8 |
| Jun 24 | 6,115 | 105.8 | 57.8 |
| Aug 24 | 6,039 | 107.3 | 56.3 |
| Nov 24 | 6,245 | 110.3 | 56.6 |
| Jan 25 | 5,230 | 110.3 | 47.4 |
| Mar 25 | 4,529 | 111.8 | 40.5 |
| Jun 25 | 5,221 | 114.0 | 45.8 |
| Aug 25 | 5,010 | 111.6 | 44.9 |
| Oct 25 | 5,025 | 111.7 | 45.0 |
| Jan 26 | 6,168 | 119.3 | 51.7 |
| Feb 26 | 5,506 | 127.2 | 43.3 |
| May 26 | 6,936 | 127.0 | 54.6 |
| Jun 26 | 5,829 | 125.9 | 46.3 |
| Jul 26 | 5,716 | 125.9 | 45.4 |
Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots; between snapshots it is filled from price ÷ P/E (an exact identity), and any fill straying more than 18% from the neighbouring snapshots is dropped rather than shown. The lower panel is the P/E — what the market pays per rupee of profit; the dotted line is its long-run median (43.7×).
An uptrend that has held for 9 weeks
STAGE 2 · ADVANCING · 9 WEEKSEvery stock cycles through the same four seasons — a flat base (stage 1), an advance (2), a top (3), a decline (4). Right now this one is in Stage 2: advancing, 9 weeks in, confirmed.stage
The price sits above its rising 200-day average (₹5,727 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200
Beating NIFTY 500 for 38 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield
What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200
Data: Weekly price, moving averages and stage (sampled — full series in the embedded dataset)
| Period | Price (₹) | 200-DMA (₹) | 50-DMA (₹) | Stage |
|---|---|---|---|---|
| Apr 16 | 616 | 584 | 570 | 4 |
| Jun 16 | 561 | 577 | 568 | 4 |
| Sep 16 | 571 | 586 | 586 | 2 |
| Dec 16 | 568 | 584 | 577 | 4 |
| Mar 17 | 575 | 581 | 580 | 4 |
| May 17 | 583 | 594 | 611 | 2 |
| Aug 17 | 678 | 623 | 675 | 2 |
| Nov 17 | 875 | 711 | 843 | 2 |
| Feb 18 | 755 | 765 | 831 | 2 |
| Apr 18 | 691 | 758 | 744 | 4 |
| Jul 18 | 608 | 705 | 642 | 4 |
| Oct 18 | 847 | 750 | 803 | 2 |
| Jan 19 | 897 | 813 | 886 | 2 |
| Mar 19 | 925 | 844 | 889 | 2 |
| Jun 19 | 1,158 | 912 | 1,030 | 2 |
| Sep 19 | 1,000 | 976 | 1,041 | 2 |
| Dec 19 | 1,247 | 1,092 | 1,231 | 2 |
| Feb 20 | 1,491 | 1,241 | 1,462 | 2 |
| May 20 | 1,097 | 1,195 | 1,144 | 4 |
| Aug 20 | 1,372 | 1,278 | 1,355 | 2 |
| Nov 20 | 1,392 | 1,318 | 1,354 | 2 |
| Jan 21 | 1,746 | 1,470 | 1,696 | 2 |
| Apr 21 | 1,825 | 1,636 | 1,830 | 2 |
| Jul 21 | 1,927 | 1,730 | 1,859 | 2 |
| Oct 21 | 2,213 | 1,887 | 2,118 | 2 |
| Dec 21 | 3,354 | 2,278 | 2,837 | 2 |
| Mar 22 | 3,086 | 2,648 | 3,069 | 2 |
| Jun 22 | 3,319 | 2,951 | 3,331 | 2 |
| Sep 22 | 3,562 | 3,120 | 3,324 | 2 |
| Dec 22 | 4,151 | 3,309 | 3,604 | 2 |
| Feb 23 | 3,965 | 3,625 | 3,964 | 2 |
| May 23 | 3,567 | 3,590 | 3,575 | 4 |
| Aug 23 | 4,880 | 3,887 | 4,347 | 2 |
| Nov 23 | 6,036 | 4,501 | 5,260 | 2 |
| Jan 24 | 5,490 | 5,090 | 5,724 | 2 |
| Apr 24 | 5,024 | 5,135 | 5,214 | 2 |
| Jul 24 | 6,101 | 5,412 | 5,833 | 2 |
| Oct 24 | 6,066 | 5,757 | 6,139 | 2 |
| Dec 24 | 5,945 | 5,925 | 6,124 | 2 |
| Mar 25 | 4,625 | 5,469 | 4,875 | 4 |
| Jun 25 | 5,127 | 5,220 | 4,973 | 4 |
| Sep 25 | 5,124 | 5,239 | 5,225 | 1 |
| Nov 25 | 5,660 | 5,194 | 5,230 | 4 |
| Feb 26 | 5,486 | 5,453 | 5,652 | 2 |
| May 26 | 6,588 | 5,608 | 6,019 | 3 |
| Jul 26 | 5,716 | 5,727 | 5,978 | 2 |
9 of the last 11 years ended with profits higher — quiet, steady compounding
Over 11 years, sales went from ₹552 Cr to ₹1,508 Cr (about 10% a year), and profit from ₹24.0 Cr to ₹207 Cr.revenuenet_profit
Margins widened 9.7 points along the way — growth with improving economics.operating_profit
Data: Revenue by year
| Period | Revenue (₹ Cr) |
|---|---|
| FY15 | 552 |
| FY16 | 451 |
| FY17 | 466 |
| FY18 | 543 |
| FY19 | 672 |
| FY20 | 698 |
| FY21 | 681 |
| FY22 | 896 |
| FY23 | 1,091 |
| FY24 | 1,243 |
| FY25 | 1,373 |
| FY26 | 1,508 |
Data: Profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| FY15 | 24 |
| FY16 | 28 |
| FY17 | 27 |
| FY18 | 37 |
| FY19 | 58 |
| FY20 | 71 |
| FY21 | 59 |
| FY22 | 84 |
| FY23 | 136 |
| FY24 | 163 |
| FY25 | 175 |
| FY26 | 207 |
Data: OPM % by year
| Period | OPM % (%) |
|---|---|
| FY15 | 8.2 |
| FY16 | 10.0 |
| FY17 | 9.4 |
| FY18 | 9.6 |
| FY19 | 11.8 |
| FY20 | 13.9 |
| FY21 | 12.2 |
| FY22 | 13.5 |
| FY23 | 17.1 |
| FY24 | 18.4 |
| FY25 | 17.8 |
| FY26 | 17.9 |
Sales have gone quiet — growth has stalled
Mar 26 sales were ₹396 Cr, up 8% on the same quarter last year.revenue
That makes 11 quarters of growth in a row — this is a trend, not a blip.revenue
Data: Quarterly sales
| Period | Revenue (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | 298 | – |
| Sep 23 | 303 | – |
| Dec 23 | 301 | – |
| Mar 24 | 341 | – |
| Jun 24 | 330 | 10.7 |
| Sep 24 | 339 | 11.9 |
| Dec 24 | 337 | 12.0 |
| Mar 25 | 368 | 7.9 |
| Jun 25 | 352 | 6.7 |
| Sep 25 | 382 | 12.7 |
| Dec 25 | 379 | 12.5 |
| Mar 26 | 396 | 7.6 |
Margins are compressing — 18% → 16% in a year
Of every ₹100 of sales, the company keeps ₹15.9 as operating profit (a year ago it kept ₹17.9).opm_pct
Zoom out and this is the page's quiet hero: annual operating margin bottomed at 12.2% in FY21 and has been rebuilt to 17.9% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit
The gross margin barely moved (41% → 41%), so the change came from running costs — overheads are growing faster than sales.gpm_pctopm_pct
Data: Three margins, quarterly
| Period | Gross (%) | Operating (%) | Net (%) |
|---|---|---|---|
| Jun 23 | 39.6 | 19.4 | 14.2 |
| Sep 23 | 39.6 | 17.8 | 12.7 |
| Dec 23 | 41.0 | 17.8 | 12.6 |
| Mar 24 | 40.4 | 18.3 | 13.0 |
| Jun 24 | 41.6 | 18.8 | 13.5 |
| Sep 24 | 40.5 | 18.2 | 12.7 |
| Dec 24 | 39.5 | 16.4 | 12.0 |
| Mar 25 | 41.0 | 17.9 | 12.9 |
| Jun 25 | 41.5 | 16.8 | 11.6 |
| Sep 25 | 41.2 | 18.9 | 14.4 |
| Dec 25 | 43.4 | 20.0 | 13.8 |
| Mar 26 | 40.9 | 15.9 | 11.0 |
Profit is treading water
Mar 26 profit after tax was ₹44.0 Cr, down 6% year on year.net_profit
Data: Quarterly profit after tax
| Period | PAT (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | 42.0 | – |
| Sep 23 | 38.0 | – |
| Dec 23 | 38.0 | – |
| Mar 24 | 44.0 | – |
| Jun 24 | 44.0 | 4.8 |
| Sep 24 | 43.0 | 13.2 |
| Dec 24 | 40.0 | 5.3 |
| Mar 25 | 47.0 | 6.8 |
| Jun 25 | 41.0 | -6.8 |
| Sep 25 | 79.0 | 83.7 |
| Dec 25 | 43.0 | 7.5 |
| Mar 26 | 44.0 | -6.4 |
The single biggest driver was margins giving way.
Data: Where the profit change came from (Mar 25 → Mar 26)
| Component | Effect (₹ Cr) |
|---|---|
| PAT Mar 25 | 47 |
| More sales | +5 |
| Thinner margins | −8 |
| Interest | +1 |
| Everything else | −1 |
| PAT Mar 26 | 44 |
The profits are real — they turn into cash
Over the last 5 profitable years, the business reported ₹765 Cr of profit and collected ₹736 Cr of operating cash — about 96% conversion.operating_cash_flownet_profit
When cash tracks profit this closely, the earnings need no asterisk.
Data: Cash collected vs profit reported (annual)
| Period | Operating cash flow (₹ Cr) | Profit after tax (₹ Cr) |
|---|---|---|
| FY15 | 16.0 | 24.0 |
| FY16 | 18.0 | 28.0 |
| FY17 | 36.0 | 27.0 |
| FY18 | 30.0 | 37.0 |
| FY19 | 67.0 | 58.0 |
| FY20 | 57.0 | 71.0 |
| FY21 | 72.0 | 59.0 |
| FY22 | 85.0 | 84.0 |
| FY23 | 129 | 136 |
| FY24 | 141 | 163 |
| FY25 | 200 | 175 |
| FY26 | 181 | 207 |
The cash cycle is stable
One rupee now takes about 34 days to go out the door as materials and come back as collected cash.cash_conversion_cycle
Data: Days of cash locked up (annual)
| Period | Customers owe (debtor days) (days) | Stock on shelf (inventory days) (days) | We owe suppliers (payable days) (days) |
|---|---|---|---|
| FY15 | 29.0 | 55.0 | 56.0 |
| FY16 | 37.0 | 76.0 | 56.0 |
| FY17 | 37.0 | 77.0 | 71.0 |
| FY18 | 40.0 | 76.0 | 78.0 |
| FY19 | 35.0 | 58.0 | 71.0 |
| FY20 | 44.0 | 66.0 | 74.0 |
| FY21 | 53.0 | 61.0 | 80.0 |
| FY22 | 55.0 | 68.0 | 93.0 |
| FY23 | 51.0 | 67.0 | 82.0 |
| FY24 | 55.0 | 55.0 | 65.0 |
| FY25 | 60.0 | 59.0 | 87.0 |
| FY26 | 61.0 | 58.0 | 86.0 |
The asset base keeps compounding — this company builds
The productive asset base has gone from ₹83.0 Cr (FY15) to ₹148 Cr, with another ₹6.0 Cr of capacity under construction right now.fixed_assetscwip
The build is self-funded: the last 3 years' investing outflow (₹117 Cr) fits inside the operating cash the business generated (₹522 Cr).investing_cash_flowoperating_cash_flow
Data: Assets in place vs under construction (annual)
| Period | Fixed assets (₹ Cr) | Under construction (CWIP) (₹ Cr) |
|---|---|---|
| FY15 | 83.0 | 1.0 |
| FY16 | 78.0 | 5.0 |
| FY17 | 76.0 | 7.0 |
| FY18 | 80.0 | 8.0 |
| FY19 | 83.0 | 3.0 |
| FY20 | 86.0 | 7.0 |
| FY21 | 90.0 | 3.0 |
| FY22 | 90.0 | 3.0 |
| FY23 | 95.0 | 20.0 |
| FY24 | 125 | 4.0 |
| FY25 | 136 | 9.0 |
| FY26 | 148 | 6.0 |
Almost no debt — this company cannot be killed by a bad year
For every ₹100 shareholders have put in (and left in), the company has borrowed ₹1 — total borrowings have grown from ₹0.0 Cr to ₹3.0 Cr over the window.borrowings
Data: Total borrowings (annual)
| Period | Borrowings (₹ Cr) |
|---|---|
| FY15 | 0.0 |
| FY16 | 0.0 |
| FY17 | 1.0 |
| FY18 | 0.0 |
| FY19 | 0.0 |
| FY20 | 5.0 |
| FY21 | 3.0 |
| FY22 | 3.0 |
| FY23 | 4.0 |
| FY24 | 5.0 |
| FY25 | 4.0 |
| FY26 | 3.0 |
Data: Debt vs shareholders’ money (annual)
| Period | Debt ÷ equity (x) |
|---|---|
| FY15 | 0.0 |
| FY16 | 0.0 |
| FY17 | 0.0 |
| FY18 | 0.0 |
| FY19 | 0.0 |
| FY20 | 0.0 |
| FY21 | 0.0 |
| FY22 | 0.0 |
| FY23 | 0.0 |
| FY24 | 0.0 |
| FY25 | 0.0 |
| FY26 | 0.0 |
Every ₹100 kept in the business earns ₹65 — a high-quality engine
Return on capital employed is 65.0% (a year ago: 70.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct
Data: Returns on capital (annual)
| Period | ROCE (%) |
|---|---|
| FY15 | 15.0 |
| FY16 | 14.0 |
| FY17 | 13.0 |
| FY18 | 15.0 |
| FY19 | 26.0 |
| FY20 | 32.0 |
| FY21 | 27.0 |
| FY22 | 44.0 |
| FY23 | 71.0 |
| FY24 | 77.0 |
| FY25 | 70.0 |
| FY26 | 65.0 |
The owners aren’t moving
Promoters hold 73.7%, essentially unchanged. Foreign funds own 1.6%, domestic funds 12.9%.promoters_pctfiis_pctdiis_pct
Data: Who holds the shares, quarterly
| Period | Promoters (%) | Foreign funds (%) | Domestic funds (%) |
|---|---|---|---|
| Jun 23 | 73.7 | 1.0 | 13.0 |
| Sep 23 | 73.7 | 1.1 | 13.0 |
| Dec 23 | 73.7 | 1.1 | 13.0 |
| Mar 24 | 73.7 | 1.3 | 13.0 |
| Jun 24 | 73.7 | 1.5 | 13.0 |
| Sep 24 | 73.7 | 1.7 | 13.0 |
| Dec 24 | 73.7 | 1.8 | 13.1 |
| Mar 25 | 73.7 | 1.8 | 12.9 |
| Jun 25 | 73.7 | 1.6 | 12.8 |
| Sep 25 | 73.7 | 1.5 | 12.8 |
| Dec 25 | 73.7 | 1.5 | 12.9 |
| Mar 26 | 73.7 | 1.6 | 12.9 |
- Promoters are not selling. Their stake has moved 0.1 points or less in 8 quarters — it sits at 73.7%.promoters_pct
- Foreign funds have neither piled in nor fled — their stake has held near 1.6% for 8 quarters. No smart-money signal, in either direction.fiis_pct
A good business — the question is the price
The numbers are genuinely mixed, and the price already assumes the good news continues.
Biggest worry: free cash flow falling (₹184 Cr → ₹135 Cr).operating_cash_flow
Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.
Straight answers from the data
What does Esab India Ltd do?
ESAB India Ltd is a leading supplier of welding and cutting products in India. It is a subsidiary of ESAB Group which was ultimately owned by the Colfax Corporation of USA.[1]. It is listed in the Welding Equipments sector with a market capitalisation of ₹8,799 Cr.
What is Esab India Ltd's share price?
As of 1 July 2026, Esab India Ltd trades at ₹5,716, up 7.9% over the past year, with a market capitalisation of ₹8,799 Cr. Beating NIFTY 500 for 38 weeks. Prices are weekly closes from Screener data; this page refreshes with each weekly update.
What is Esab India Ltd's share price target?
Sector Alpha does not publish broker-style price targets. Our discounted-cash-flow model estimates Esab India Ltd's intrinsic value at ₹2,875 per share under base assumptions (bear ₹2,106, bull ₹3,457), against the current price of ₹5,716 — a 49% premium to model value. The current price already implies roughly 23% annual earnings growth. These are model estimates, not forecasts — treat them as one input alongside the valuation history below, not as a target.
Is Esab India Ltd stock overvalued or undervalued?
Esab India Ltd trades at a P/E of 45.4× — the 56th percentile of its own 10.3-year trading range (median 43.7×), which is around the middle of its own historical range. The market has pre-paid for growth that hasn’t arrived yet. Since Mar 2016, the stock is up 829% while earnings per share grew 529%. The difference is re-rating — investors paying more for the same rupee of profit.
What did Esab India Ltd report in its latest quarterly results?
In its most recent reported quarter (Q4 FY26, quarter ended March 2026): Mar 26 sales were ₹396 Cr, up 8% on the same quarter last year. Mar 26 profit after tax was ₹44.0 Cr, down 6% year on year. Figures are from Screener-scraped quarterly filings; the page updates when the next quarter is filed.
Is Esab India Ltd growing?
Sales have gone quiet — growth has stalled. Mar 26 sales were ₹396 Cr, up 8% on the same quarter last year.
Are Esab India Ltd's profits growing?
Profit is treading water. Mar 26 profit after tax was ₹44.0 Cr, down 6% year on year.
What are Esab India Ltd's operating margins?
Margins are compressing — 18% → 16% in a year. In the most recent quarter, of every ₹100 of sales, the company keeps ₹15.9 as operating profit (a year ago it kept ₹17.9).
What is Esab India Ltd's long-term growth record?
Revenue grew from ₹552 Cr in FY15 to ₹1,508 Cr in FY26 — a 9.6% compound annual growth rate over 11 years. Profit after tax compounded at 21.6% over the same period (₹24 Cr → ₹207 Cr).
Is Esab India Ltd stock in an uptrend?
An uptrend that has held for 9 weeks. Esab India Ltd is in Stage 2 — advancing, 9 weeks in (confirmed). Stages follow Stan Weinstein's four-phase read of weekly price against the 200-day average: basing (1), advancing (2), topping (3), declining (4).
Why is Esab India Ltd stock rising?
The price is up 8% over the past year, in a confirmed Stage 2 uptrend (9 weeks), and has beaten NIFTY 500 for 38 weeks. Since 2016, the price is up 829% while earnings per share moved 529%.
Is Esab India Ltd beating the NIFTY 500?
Yes — beating NIFTY 500 for 38 weeks, as of 1 July 2026. Relative strength is measured weekly against the NIFTY 500 (Mansfield RS): a positive reading means the stock has outperformed the index over the trailing window, week after week.
Where is Esab India Ltd in its business cycle?
The data reads Esab India Ltd as a deep cyclical business currently in its expansion phase — earnings at an all-time high for this company, valuation at the 56th percentile. Profits swing violently in this business — margins swinging 10 points peak to trough. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.
Who owns Esab India Ltd — what is the promoter holding?
Promoters hold 73.7%, essentially unchanged. Foreign funds own 1.6%, domestic funds 12.9%. Shareholding is from Screener's quarterly filings data.
Does Esab India Ltd have too much debt?
Almost no debt — this company cannot be killed by a bad year. For every ₹100 shareholders have put in (and left in), the company has borrowed ₹1 — total borrowings have grown from ₹0.0 Cr to ₹3.0 Cr over the window.
What is the bull case for Esab India Ltd?
Profits are up 27% in two years, the market has pre-paid for the next leg. Sales have gone quiet — growth has stalled.
What is the bear case for Esab India Ltd — what could break the story?
Biggest worry: free cash flow falling (₹184 Cr → ₹135 Cr). Two weak quarters in a row would kill this story. This falsification condition is stated up front so the thesis can be checked against incoming quarters, not defended after the fact.
Is Esab India Ltd a stock worth studying right now?
Sector Alpha does not publish buy or sell recommendations — this is a research read, not advice. What the data says: a good business — the question is the price. The numbers are genuinely mixed, and the price already assumes the good news continues. Across the 7-model scorecard the composite research signal is on watch at 55% confidence. This is machine-written research compiled from Screener data — every number traces to its source — and it is not investment advice. Do your own diligence.