Ador Welding Ltd

Ador Welding Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Ador Welding Ltd

₹ 1,477 1.66%
25 Apr 11:42 a.m.
adorwelding.com BSE: 517041 NSE : ADORWELD
About

Ador Welding Ltd is a leading player in the field of Welding Products, Technologies and Services. It is also engaged in providing customized solutions for multi-disciplinary projects and contracts related to refineries, oil and gas, petrochemicals and other sectors.[1]

Key Points

Product & Revenue Mix FY22
Welding consumables (81%)
The company is engaged in the manufacturing of welding consumables. It offers a wide variety (over 200 types) of electrodes, fluxes, and flux-cored wires.
Welding Equipments (15%)
It Includes welding and cutting equipment, gas cutting products, welding automation products and systems, personal protective equipment, and accessories.
Flares & Process Equipment (4% of Revenue)
The flares and Process Equipment business of the company is engaged in providing customized solutions for projects and contracts.[1] [2]
Out of total sales, Domestic sales are 94% & Exports are 5%. [3]

Website BSE NSE
  • Market Cap ₹ 2,008 Cr.
  • Current Price ₹ 1,477
  • High / Low ₹ 1,770 / 1,022
  • Stock P/E 30.2
  • Book Value ₹ 243
  • Dividend Yield 1.17 %
  • ROCE 26.8 %
  • ROE 19.8 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 26.4% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 26.0%

Cons

  • The company has delivered a poor sales growth of 11.2% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Capital Goods-Non Electrical Equipment Industry: Electrodes - Welding Equipment

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
135 162 128 160 174 200 158 185 199 235 190 226 222
128 146 117 146 158 182 142 170 174 204 174 199 201
Operating Profit 7 16 11 13 16 18 16 15 24 32 16 27 21
OPM % 5% 10% 9% 8% 9% 9% 10% 8% 12% 14% 8% 12% 9%
2 -23 2 8 1 3 1 2 2 2 3 3 3
Interest 1 2 1 1 1 1 0 0 1 1 1 1 1
Depreciation 3 3 3 3 3 3 3 3 3 3 3 3 3
Profit before tax 5 -12 9 18 14 17 14 13 22 30 15 26 19
Tax % 17% 19% 26% 17% 25% 23% 25% 25% 26% 25% 25% 25% 29%
4 -9 7 15 11 13 10 10 16 23 11 20 14
EPS in Rs 3.06 -6.92 4.96 10.77 7.79 9.71 7.66 7.34 12.03 16.58 8.27 14.40 10.07
Raw PDF
Upcoming result date: 30 April 2024

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
341 364 368 387 407 441 458 512 526 447 661 777 873
303 328 331 358 365 410 423 468 484 425 601 688 777
Operating Profit 38 36 37 28 42 31 35 45 42 22 61 89 96
OPM % 11% 10% 10% 7% 10% 7% 8% 9% 8% 5% 9% 11% 11%
3 4 -10 34 3 9 10 10 9 -19 14 6 11
Interest 1 1 1 1 2 2 6 11 10 8 6 4 3
Depreciation 12 12 12 12 12 11 10 10 11 11 11 12 13
Profit before tax 28 27 14 48 32 27 28 35 30 -16 58 79 90
Tax % 26% 28% 69% 33% 29% 33% 34% 31% 15% 24% 23% 25%
21 19 4 32 23 18 19 24 26 -12 45 59 67
EPS in Rs 15.36 14.03 3.11 23.80 16.66 13.32 13.65 17.54 18.84 -8.82 33.11 43.60 49.32
Dividend Payout % 39% 43% 161% 21% 30% 38% 37% 37% 34% 0% 38% 40%
Compounded Sales Growth
10 Years: 8%
5 Years: 11%
3 Years: 14%
TTM: 18%
Compounded Profit Growth
10 Years: 13%
5 Years: 26%
3 Years: 33%
TTM: 34%
Stock Price CAGR
10 Years: 26%
5 Years: 34%
3 Years: 59%
1 Year: 36%
Return on Equity
10 Years: 10%
5 Years: 12%
3 Years: 14%
Last Year: 20%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 14 14 14 14 14 14 14 14 14 14 14 14 14
Reserves 161 171 167 190 205 224 234 250 235 224 268 310 316
1 2 1 0 0 35 81 65 82 29 2 17 33
57 69 92 82 118 107 102 103 108 108 109 111 116
Total Liabilities 233 255 274 286 337 380 430 431 439 375 393 452 479
77 81 75 96 99 101 102 115 125 116 117 123 127
CWIP 2 0 2 2 1 4 1 1 0 3 7 2 4
Investments 36 33 14 7 12 14 6 7 6 12 20 20 22
118 141 184 182 224 261 322 308 308 244 248 306 326
Total Assets 233 255 274 286 337 380 430 431 439 375 393 452 479

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
28 17 30 1 22 0 -37 63 13 79 26 14
-20 -9 -1 -8 -4 -11 0 -19 -21 -7 -5 -10
-10 -10 -11 -9 -9 19 33 -33 -13 -61 -31 -5
Net Cash Flow -1 -2 18 -17 10 7 -4 11 -22 12 -10 -1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 39 73 77 79 107 63 73 60 90 86 51 59
Inventory Days 89 67 74 59 58 56 60 52 62 70 70 81
Days Payable 35 62 78 56 106 85 84 67 72 87 60 51
Cash Conversion Cycle 93 78 74 81 60 34 50 45 80 69 61 89
Working Capital Days 49 56 47 61 68 93 146 113 113 65 55 73
ROCE % 16% 14% 15% 11% 17% 12% 11% 14% 12% 6% 20% 27%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
56.90% 56.90% 56.90% 56.90% 56.90% 56.90% 56.90% 56.90% 56.90% 56.90% 56.90% 56.90%
0.00% 0.20% 0.32% 0.22% 0.20% 0.31% 0.23% 0.32% 0.22% 0.13% 0.30% 0.10%
9.85% 6.59% 6.67% 6.72% 6.70% 4.80% 4.44% 2.99% 2.79% 4.02% 4.43% 5.74%
33.25% 36.30% 36.11% 36.16% 36.19% 37.99% 38.42% 39.78% 40.08% 38.96% 38.38% 37.25%
No. of Shareholders 13,58514,58214,63214,54914,72717,44318,22819,30623,20928,05930,27432,575

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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