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Esab India Ltd.

BSE: 500133 Sector: Engineering
NSE: ESABINDIA ISIN Code: INE284A01012
BSE 00:00 | 12 Aug 3290.75 81.25
(2.53%)
OPEN

3218.35

HIGH

3333.00

LOW

3126.65

NSE 00:00 | 12 Aug 3289.95 86.00
(2.68%)
OPEN

3236.00

HIGH

3339.85

LOW

3179.75

OPEN 3218.35
PREVIOUS CLOSE 3209.50
VOLUME 1115
52-Week high 4160.35
52-Week low 1863.20
P/E 60.51
Mkt Cap.(Rs cr) 5,064
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 3218.35
CLOSE 3209.50
VOLUME 1115
52-Week high 4160.35
52-Week low 1863.20
P/E 60.51
Mkt Cap.(Rs cr) 5,064
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Esab India Ltd. (ESABINDIA) - Company History

ESAB India Ltd is one of the leading suppliers of welding and cutting products in the country. The company is engaged in the business of welding consumables which includes welding electrodes copper coated wires and welding fluxes and of welding equipment which includes welding machines and cutting equipment. They operate significantly in the domestic market.The company products became an integral part of industries like Shipbuilding Petrochemical Construction Transport Offshore Energy and Repair and Maintenance. Their product range cover welding consumables reclamation consumables arc equipment industrial gas equipment cutting machines and working environment products for specialized welding cutting and allied needs. They are having their manufacturing facilities located at Kolkata Chennai and Nagpur. Colfax Corporation is a Delaware USA based industrial group with existing global business interests in medical devices fabrication technology products and services. Colfax Corporation holds 73.72% of equity shares of the company through ESAB Holdings Limited UK and Exelvia Group India BV Netherlands which are its indirect wholly-owned subsidiaries. ESAB India Ltd was incorporated on November 10 1987. In July 1988 the company commenced their business operation with the acquisition of the welding division of Peico Electronics & Electricals Ltd (now Philips India Ltd) located at Kalwa in Maharashtra. In the year 1991 the company acquired the entire welding division of Indian Oxygen Ltd (now known as BOC India Ltd) with three manufacturing units; two at Kolkata and one at Chennai. In the year 1992 the company acquired the controlling interest in Flotech Welding & Cutting Systems Ltd which was engaged in the manufacture of Cutting Machines in Pune and in the year1994 Maharashtra Weldaids Ltd merged with the company that had a manufacturing unit at Nagpur.In the year 2003 Flotech Welding & Cutting Systems Ltd changed their name to Esab Welding & Cutting Systems Ltd in order to make appropriate use of Esab's brand name for the effective marketing of their products and in June 2004 Esab Welding & Cutting Systems Ltd ceased operations pursuant to the transfer of their operations to the company's equipment factory at Taratala. In the year 2005 the company launched a project for commissioning a new manufacturing facility at Irungattukottai near Chennai for the manufacture of Welding and Cutting Equipment and project into commercial production during the year 2006. During the year 2007 Exelvia Group India BV acquired 18.25% of the company's shares from the public. With this acquisition together with the existing holding of 7.31% of the company's shares by Esab Holdings Le both being the significant shareholders and indirect subsidiaries of Charter Plc the company became the subsidiary of Charter Plc. Also the company acquired the remaining equity share capital of their subsidiary company Esab Welding and Cutting Systems Ltd from Esab Cutting Systems GmbH Germany thereby making Esab Welding & Cutting Systems Ltd a 100% subsidiary. In the year 2007 the company set up a new facility for manufacture of Flux Cored Wires and Stick Electrodes at their site in Irungattukottai. Also they are undertaking significant expansion of capacities at their Nagpur and Khardah plants for Wires and Electrodes and the additional capacities are expected to be in place during the financial year 2008.In July 2008 ESAB Welding & Cutting Systems Ltd a wholly owned subsidiary company amalgamated with the company. Also the company proposed to expand their capacity at Nagpur plant for the production of MIG/MAG wires at a total outlay of Rs 30 crore. This expansion will be carried out in phases spreading over 3 years.A Scheme of Amalgamation (`the Scheme') of Transferor Company viz ESAB Engineering Services Limited ('EESL') with ESAB India Limited ('the Company' or `Transferee Company') was sanctioned by the Honorable High Court of Judicature at Madras vide their order dated 9 December 2010 issued on 29 December 2010. Pursuant to this Scheme the assets and liabilities of the Transferor Companies were transferred to and vested in the transferee company with effect from 1 April 2010 (Appointed Date). During the FY2011 the company spent towards capital expenditure for the amount of Rs.92 million which represents about a 60% reduction as compared to previous year.During the FY2013the company's Capital Expenditure was about Rs.1176 Lakhs and projects with productivity enhancements and Quality improvements were prioritized to conserve resources.The outbreak of COVID-19 pandemic and the resulting lockdown enforced from March 25 2020 has affected the Company's regular operations.

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