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ESAB India Limited (500133) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of ESAB India Limited ₹4,464, price ₹5,507, upside -19.0%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Industrial Goods · IN · ISIN INE284A01012

EI Thin data Sep 24, 2026

ESAB India Limited

500133 · BSE

Overvalued / MonitorQuality growthQuality is not strong enough to offset the price risk.

!Fair value ₹4,464 · Overvalued (−19.0%)
✓Quality 69/100
✓Healthy Growth (revenue 5y +14.5 %/yr in INR)
!Thin margins · 9.5% net margin (TTM)
✓Low debt
!10.3% dividend yield · Pays more than it earns
✓Wide moat 67/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹7,132 ₹1,624 Fair Value ₹4,464 May 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range ₹1,624 – ₹7,132 · fair‑value band ₹2,784 – ₹6,141 · the ₹5,507 price screens above the ₹4,464 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

ESAB India Limited manufactures and sells welding and cutting equipment in India.

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ESAB India Limited manufactures and sells welding and cutting equipment in India. The company offers gas equipment; arc gouging and exothermic cutting; welding automation and robotics; ESAB digital solutions; filler metals; arc welding equipment; plasma cutting equipment; and cutting automation products, as well as PPE products and accessories, including helmets and head protection, gloves, clothes, and eye protection products. Its products are used in shipbuilding, petrochemical, construction, transport, offshore, energy, and general engineering industries, as well as repair and maintenance of steel, mills, cement, sugar industries, etc. The company sells its products under the Arcair, Exaton, GASARC, Stoody, TBI Industries, Thermal Dynamics, Tweco, and Victor brand names. It serves in Qatar, Bangladesh, Ecuador, Vietnam, Dubai, Indonesia, Srilanka, Malaysia, Australia, Thailand, the Kingdom of Saudi Arabia, the Philippines, Singapore, South Africa, Sweden, China, Switzerland, Peru, and the United States markets. The company was founded in 1987 and is headquartered in Chennai, India.

Stock analysis

ESAB India Limited (500133) currently trades at ₹5,507, while our model-based Fair Value estimate is ₹4,464, 19.0% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ₹2,362 per share, and 0 of the 26 models we run sit above the ₹5,507 price.

Bear case: the Economic Profit group reads lowest at ₹631.35, and 26 of the 26 models stay below the price. Evidence for this calculation is low.

Scenario range: ₹2,784 (bear) to ₹6,141 (bull), the price of ₹5,507 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 69/100 (solid quality), in the Industrial Goods sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

ESAB India Limited reported revenue of ₹13.7B in FY2025 versus ₹6.8B in FY2021, a compound +19.2%/yr. Reported net income was ₹1.8B in FY2025, compounding +31.2%/yr from FY2021.

Key figures

Market cap ₹20.3B (≈ $211M) · P/E ratio 34.3 · P/S ratio 4.39 · EPS (TTM) ₹39.43 · Dividend yield 10.3% · Net margin 12.8% · Return on equity 21.8% · Return on assets (EBIT) 30.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 58 out of 100 (medium confidence).

What moves the price

The share trades about 23% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrial Goods peers we cover trades at −11% fair-value upside, at −19%, 500133 screens richer than that median.

Fair Value models

Bear ₹2,784 Fair Value ₹4,464 Bull ₹6,141
Price ₹5,507 · Upside -19.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF ₹1,129 ₹1,864 ₹2,973 78
Growth DCF ₹1,100 ₹1,714 ₹2,565 77
Owner Earnings ₹1,067 ₹1,761 ₹2,807 75
All 26 models by family
DCF Models
FCF DCF ₹1,129 ₹1,864 ₹2,973 78
Owner Earnings ₹1,067 ₹1,761 ₹2,807 75
5Y Revenue Exit ₹1,136 ₹1,977 ₹3,136 71
5Y EBITDA Exit ₹1,330 ₹2,391 ₹3,750 73
5Y P/E Exit ₹1,462 ₹2,672 ₹4,095 69
10Y Revenue Exit ₹1,084 ₹1,816 ₹2,969 65
10Y EBITDA Exit ₹1,225 ₹2,080 ₹3,422 66
10Y P/E Exit ₹1,301 ₹2,259 ₹3,677 62
Earnings-Based
Graham-Dodd ₹774.93 ₹4,040 ₹5,589 63
Lynch FV ₹1,107 ₹1,582 ₹2,056 61
PEG = 1.0 ₹1,107 ₹1,582 ₹2,056 57
EPV ₹992.22 ₹1,106 ₹1,199 74
Dividend Discount
Gordon GGM ₹707.55 ₹1,185 ₹1,538 68
DDM Multi-Stage ₹707.55 ₹1,124 ₹1,275 67
Multiples
P/E Multiple ₹1,795 ₹2,393 ₹2,991 63
P/S Multiple ₹1,338 ₹1,785 ₹2,231 58
P/B Multiple ₹792.06 ₹1,056 ₹1,320 55
EV/EBIT ₹1,952 ₹2,589 ₹3,226 66
EV/EBITDA ₹1,597 ₹2,116 ₹2,635 67
EV/Revenue ₹1,166 ₹1,648 ₹2,129 54
Asset-Based
NCAV (Graham) ₹117.34 ₹157.24 ₹234.68 54
Growth DCF
Growth DCF ₹1,100 ₹1,714 ₹2,565 77
Rev-Margin DCF ₹1,136 ₹1,953 ₹3,049 71
Economic Profit
Residual Income ₹518.67 ₹631.35 ₹1,035 74
ROIC Compounder ₹1,060 ₹1,256 ₹1,462 72
Growth Earnings
Growth-Adj P/E ₹1,653 ₹2,362 ₹3,070 67

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Quality Score breakdown

Overall quality 69/100

Of which business quality 70 · Market factors (momentum, volatility) 57

Profitability 91
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 53
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 39
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.5%
Start year 2020 (pandemic). Over 10 years: +12.0% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.0%
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+34.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.2%
Dividend (yield on the price)10.3%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.12% → 17%

500133 screens overvalued: fair value 19% below the price. Compare with FRONTSP →

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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Machine Tools & Accessories” was too small, so the broader sector is used.)Industrials · 5245 stocks

Beats the sector median on 7/13 measures
A mixed picture versus its sector peers.
Valuation
Quality Score 69 · Top 25%
Fair Value upside −62.1% · Bottom 25%
Profitability
Return on equity (TTM) 21.8% · Top 25%
Return on assets 11.5% · Top 25%
Net margin (TTM) 9.5% · Above median
Operating margin (TTM) 11.5% · Above median
Growth and dividend
Revenue growth −3.8% · Below median
Dividend yield (TTM) 10.3% · Top 25%
Balance sheet
Debt / equity 0.00× · Lowest 25%

Valuation Multiplesvs Industrials median · lower = cheaper

P/E (TTM) 34.3× · Pricier than median
P/B 5.62× · Priciest 25%
P/S (TTM) 3.18× · Priciest 25%
EV/EBITDA 23.4× · Priciest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Cite: Fair Value Calculator (2026). "ESAB India Limited Fair Value". https://www.fairvalue-calculator.com/stock/500133

Frequently asked questions

Is ESAB India Limited (500133) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹4,464 versus a price of ₹5,507, about −19% upside (overvalued).
What is the fair value of 500133?
Our model-based fair value for ESAB India Limited is ₹4,464 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹5,507.
What is the quality score of 500133?
ESAB India Limited has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ESAB India Limited (500133)?
Our model-based price target is the fair value of ₹4,464 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario ₹2,784, optimistic scenario ₹6,141. It is a calculation from audited fundamentals, not an analyst target.
What is the ESAB India Limited stock forecast for 2026?
Our models put fair value at ₹4,464, about −19% upside versus a price of ₹5,507 (overvalued). Cautious scenario ₹2,784, optimistic scenario ₹6,141. The calculation is refreshed regularly with new filings.
What is the revenue of ESAB India Limited (500133)?
ESAB India Limited reported trailing-twelve-month revenue of about ₹6.4B (latest available figure, as of Sep 24, 2026).
Does ESAB India Limited pay a dividend?
ESAB India Limited currently shows a dividend yield of about 10.34% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of ESAB India Limited (500133)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ESAB India Limited it is ₹4,464 per share (as of Sep 24, 2026), against a price of ₹5,507. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is ESAB India Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 500133 trades above its calculated fair value: price ₹5,507, fair value ₹4,464, a gap of about −19% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 500133?
No. The price is what the market pays today (₹5,507); the fair value is what the company's own numbers justify (₹4,464). For ESAB India Limited the two are ₹1,043 per share apart. That gap is exactly why we show both numbers side by side.
How much is ESAB India Limited worth?
The market values ESAB India Limited at about ₹20.3B (market capitalisation, as of Sep 24, 2026). Per share that is ₹5,507; our models calculate a fair value of ₹4,464 per share.
What do the bullish and bearish scenarios say about 500133?
Our models span a range for ESAB India Limited: cautious scenario ₹2,784, base ₹4,464, optimistic ₹6,141 per share (as of Sep 24, 2026, price ₹5,507). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 500133?
ESAB India Limited trades at a price-to-earnings ratio of 34.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹4,464 is built from several models across several years. Other multiples: P/B 5.6, P/S 3.2, EV/EBITDA 23.4.
How solid is the balance sheet of ESAB India Limited (500133)?
Balance-sheet figures for ESAB India Limited (as of Sep 24, 2026): return on equity 21.8%, debt of 0.00 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is 500133 from its 52-week high?
ESAB India Limited trades at ₹5,507, about 23% below its 52-week high of ₹7,132 and 17% above the low of ₹4,702 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹4,464 is for.
Which stocks are comparable to ESAB India Limited?
From the same area (Industrial Goods) we also value FRONTSP, FLUIDOM, DHPIND, RASIELEC, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ESAB India Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹5,507, calculated fair value ₹4,464 (−19%), Quality Score 69/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 500133 calculated?
We run ESAB India Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹4,464, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. ESAB India Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ESAB India Limited (500133)?
The closing price on Oct 1, 2026 was ₹5,507. Our model-based fair value is ₹4,464, about −19% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ESAB India Limited right now?
Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹2,784 to ₹6,141) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of ESAB India Limited

How large is the market capitalisation of ESAB India Limited (500133)?
The market capitalisation of ESAB India Limited is ₹20.3B (≈ $211M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ESAB India Limited (500133)?
The price-to-sales ratio of ESAB India Limited is 4.39 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ESAB India Limited (500133)?
Earnings per share at ESAB India Limited are ₹39.43 (price ÷ EPS = P/E 34.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ESAB India Limited (500133)?
The dividend yield of ESAB India Limited is 10.3%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of ESAB India Limited (500133)?
The net margin of ESAB India Limited is 12.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ESAB India Limited (500133)?
The return on equity (ROE) of ESAB India Limited is 21.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ESAB India Limited (500133)?
On an EBIT basis the return on assets of ESAB India Limited is 30.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ESAB India Limited (500133)?
The operating margin of ESAB India Limited is 11.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ESAB India Limited (500133)?
Revenue at ESAB India Limited is growing −3.8% versus a year earlier (3y avg +15.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ESAB India Limited (500133)?
Earnings per share at ESAB India Limited are growing −6.2% versus a year earlier. How much earnings per share grew versus a year earlier.
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