Esab India Ltd

Meeting Details

• Board meeting scheduled for 4 November 2026; time and venue not disclosed.

Key Agenda Items

• Consider unaudited financial results for quarter ended 30 September 2026.
• Board may recommend interim dividend, if any.
• Unaudited results to be sent within timeline and published in two newspapers.

Other Notes

• Trading window closed 1 Oct 2026 to 6 Nov 2026 for designated persons.
• Designated employees including Directors informed not to trade during closure.

Q1 FY2026 unaudited results

• Unaudited Q1 FY2026 results approved; total income ₹42,290 lakh; net profit after tax ₹5,614 lakh.

SPV investment for renewable energy

• Board approves 26% equity in SPV for 1MW solar power; SPV to be incorporated; Rs 40 lakh.

Filing Status

• CIT(A) upheld penalties of Rs 1,23,10,580 for AY 2017-18 and Rs 21,86,636 for AY 2018-19.
• The company will prefer an appeal against the orders.

Financial results

• Unaudited results for quarter ended 30 June 2026 approved by Board; Audit Committee reviewed.
• Results to be uploaded on the company's website and published in Business Standard and Makkal Kural.
• Limited Review Report by Deloitte Haskins & Sells enclosed.

SPV investment for renewable energy

• Board approved 26% equity in SPV for 1 MW solar; up to Rs 40 lakh.

SPV details

• SPV to be incorporated by Sunsure Energy Private Limited; SPV yet to be incorporated.
• SPV to supply 1 MW solar power to ESAB India's Nagpur plant.
• Cost of subscription up to Rs 40 lakh for 26% equity.

Management changes

• Retirement of Biswadeep Banerjee, General Manager - Equipment Sales and After Market (SMP), effective 31 July 2026.
• Jalubula Venkata Koteswara Rao appointed Head, Sales and Marketing, Equipment and Cutting Systems; SMP from 1 August 2026.

AGM Details

• AGM held on 29 July 2026 at 3:30 PM via VC/OAVM.
• Record date 23 July 2026; last day for postal ballot receipt 29 July 2026.
• Meeting conducted via Video Conference / Other Audio-Visual Means.
• Meeting started 3:30 PM and ended at 4:42 PM.

Resolutions Put to Vote

• Adopt Audited Financial Statements for year ended 31 March 2026 — passed.
• Declare final dividend of Rs 25 per equity share — passed.
• Re-appointment of Mr. B Mohan by rotation — passed.
• Approval of appointment of Mr. Curtis Evan Jewell as Non-Executive Director — passed.
• Ratification of remuneration payable to Cost Auditors — passed.
• Approval for payment of Commission to Independent Directors — passed.

Director Changes

• Mr. B Mohan re-appointed by rotation.
• Mr. Curtis Evan Jewell appointed as Non-Executive Director.

Auditors & Remuneration

• Cost Auditors’ remuneration ratified.

Dividend Details

• Final dividend of Rs 25 per equity share.

Financial performance

• Total revenue ₹151.42 cr; up 9.8% YoY.
• Profit before tax ₹27.40 cr; Net profit ₹20.67 cr.
• Earnings per share ₹134.30; Dividend payout ratio 69%.
• Net worth ₹429.38 cr; up from ₹361.25 cr.
• Two interim dividends of ₹25 per share; final ₹25 proposed.

Dividend & capital allocation

• Interim dividends ₹25 per share twice in 2025-26.
• Final dividend ₹25 per share proposed at AGM.
• Share capital ₹15.39 cr; 1.539 cr equity shares.
• Company remains debt-free; cash ₹5.75 cr.
• Dividend payout ratio for FY2025-26: 69%.

Governance & leadership changes

• Curtis Jewell appointed Non-Executive Director and Chairman from 1 May 2026.
• Kevin Johnson served as Chairman until 30 Apr 2026.
• Audit Committee: Jewell joins from 1 May 2026.
• Nomination & Remuneration Committee: Jewell joins 1 May 2026.
• Risk Management Committee: Jewell appointed Chairman from 1 May 2026.
• CSR Committee: Jewell joins 1 May 2026; chaired by Cauvery Dharmaraj.

ESG & CSR performance

• CSR spend ₹4.164 cr; obligation ₹4.452 cr; unspent ₹0.288 cr.
• Unspent CSR funds transferred to unspent CSR account.
• CSR projects include welding safety training; rural skill development; college research.
• ISO 14001 and OHSAS 18001; Nagpur ZLD plant; energy and water efficiency.
• Energy: 91,205 GJ; GHG: 17,342 t CO2e; water withdrawal: 56,503 KL.

Audit, risk & controls

• Statutory auditors Deloitte Haskins & Sells; unqualified report.
• Internal auditors KPMG; ICFR adequate and effective.
• Secretarial auditor MR-3 V Mahesh; no observations.
• Contingent liabilities ₹2.493 cr; commitments ₹9.21 cr.
• AGM scheduled for 29 July 2026; remote e-voting 26-28 July 2026.

Shareholding & capital markets

• Promoters hold 73.72% via ESAB Holdings UK and Exelvia Group India BV.
• Top public holders: SBI Small Cap Fund 6.55%; Nippon India 5.35%.
• Total shareholders 20,502; 99.48% dematerialised.
• ISIN INE284A01012.

Geography, operations & workforce

• Domestic revenue ₹124.95 cr; Overseas ₹25.25 cr; exports ~17%.
• Total employees 1,003; 3 plants, 11 offices nationwide (14 locations total).
• Plant locations: Ambattur (Chennai), Sriperumbudur, Nagpur.
• No subsidiary companies.

Corrigendum overview

• Omissions in AR 2025-26 corrected: tax dues AY 2003-04 and AY 2004-05 disclosed.
• Correction to five-year financial highlights: 'Retained Earnings' label changed to 'Earnings for the year'.
• BRSR remuneration figure corrected for Key Managerial Personnel: 1,84,63,840 rupees.
• Corrigendum encloses revised AR; made available on company website.
• No impact on financial statements for year ended 31 March 2026.
• Appointment of Curtis Evan Jewell as Non-Executive Nominee Director and Chairman effective 1 May 2026.
• Shareholders approval sought for Curtis Jewell appointment per SEBI LODR 2015.
• Remuneration of cost auditors Geeyes & Co ratified at 5.50 lakh; for FY2026-27.
• Approval for payment of independent directors' commission up to 1% of net profits for 2026-31.
• AGM notice for 29 July 2026 via VC/OAVM; explanatory statements included.

Dematerialisation/rematerialisation status

• All dematerialisation requests processed during the period.
• Physical certificates mutilated and cancelled after verification; depository named as registered owner in records within timeline.
• Securities dematerialised listed on the stock exchanges where listed previously.
• No exceptions or non-compliance reported.