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Ador Welding Ltd (ADOR)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517041 NSE: ADOR Electrodes & Welding Equipment | Small Cap | Ador Welding Share Price
₹1,633 19.40 (1.20%)
As on 25-Sep'26 16:59
Ador Welding Ltd (ADOR)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517041 NSE: ADOR Electrodes & Welding Equipment | Small Cap | Ador Welding Share Price
₹1,633 19.40 (1.20%)
As on 25-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹2,842 Cr.
Current Price
₹1,633
52-Week Low / High
₹850 / 1,765
TTM EPS
₹65.2
TTM Sales
₹1,198 Cr.
Book Value per Share
₹334
P/E Ratio
25.03
Lower than its 5-year historical median
Industry PE
37.2
Price to Book (P/B)
4.89
Higher than its 5-year historical median
Price to Sales (P/S)
2.37
Higher than its 5-year historical median
EV/EBITDA
15.15
Lower than its 5-year historical median
Dividend Yield
1.41%
Profitability Efficiency
Return on Equity (ROE)
15.46%
Outperforms industry median
Return on Capital Employed (ROCE)
22.31%
Outperforms industry median
Return on Assets (ROA)
9.01%
Operating Profit Margin
9.5%
Net Profit Margin
7.19%
Gross Profit Margin
12%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
1.67%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
4.81%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
36.52%
Asset Quality
Promoter Holding
53.76%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹564 Cr.
Equity
₹17.4 Cr.
Face Value
₹10
All Time Low / High
₹11.60 / 1770.00
Check Before You Invest
Quality
Somewhat GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Ador Welding Ltd a good quality company?
Ador Welding Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Ador Welding Ltd performance compare with that of its Peers?
Revenue growth of Ador Welding Ltd vs industry peers?
Ador Welding Ltd revenue CAGR is 16.71%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Ador Welding Ltd?
Promoters hold 53.76% of the Ador Welding Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Ador Welding Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 19.2% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Ador Welding Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 11.9% | 11.5% | 13.8% | 12.2% | -2.5% | 23.4% | 26.7% | 28.7% | 12.2% | 21.3% | - |
| Value Creation Index ⓘ | -0.2 | -0.2 | 0.0 | -0.1 | -1.2 | 0.7 | 0.9 | 1.1 | -0.1 | 0.5 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 441 | 458 | 512 | 526 | 447 | 661 | 777 | 1,067 | 1,117 | 1,135 | 1,194 |
| Sales YoY Gr. | - | 3.7% | 11.9% | 2.6% | -14.9% | 47.9% | 17.4% | 37.4% | 4.6% | 1.7% | - |
| Adj EPS ⓘ | 12.3 | 12.3 | 15.1 | 17.5 | 3.9 | 26.5 | 42.7 | 63.5 | 40.5 | 48.5 | 65.3 |
| YoY Gr. | - | -0.2% | 23.1% | 16% | -77.7% | 580% | 61.2% | 48.7% | -36.3% | 19.7% | - |
| BVPS (₹) ⓘ | 174.6 | 182.1 | 193.7 | 183 | 174.6 | 207.3 | 237.9 | 363.5 | 296.4 | 323.6 | 339.3 |
| Adj Net Profit ⓘ | 16.7 | 16.7 | 20.5 | 23.8 | 5.3 | 36.1 | 58.1 | 86.4 | 70.4 | 84.3 | 114 |
| Cash Flow from Ops. ⓘ | 0.1 | -36.9 | 63 | 13 | 79 | 26.4 | 13.7 | 57.5 | 139 | 117 | - |
| Debt/CF from Ops. ⓘ | 253.4 | -2.2 | 1 | 6.3 | 0.4 | 0 | 1.2 | 0.8 | 0 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 11.1% | 20.5% | 13.5% | 1.7% | ||||
| Adj EPS ⓘ | 16.5% | 65.5% | 4.3% | 19.7% | ||||
| BVPSⓘ | 7.1% | 13.1% | 10.8% | 9.2% | ||||
| Share Price | 19.2% | 19.1% | 13.6% | 66.7% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 7.3 | 6.9 | 8 | 9.3 | 2.2 | 13.9 | 19.2 | 21 | 13.9 | 15.6 | 19.7 |
| Op. Profit Mgn % ⓘ | 7.1 | 7.8 | 8.7 | 8.1 | 5.1 | 9.2 | 11.4 | 11.3 | 9.5 | 9.6 | 12.8 |
| Net Profit Mgn % ⓘ | 3.8 | 3.6 | 4 | 4.5 | 1.2 | 5.5 | 7.5 | 8.1 | 6.3 | 7.4 | 9.5 |
| Debt to Equity ⓘ | 0.2 | 0.3 | 0.3 | 0.3 | 0.1 | 0 | 0.1 | 0.1 | 0 | 0 | - |
| Working Cap Days ⓘ | 185 | 242 | 234 | 222 | 241 | 153 | 136 | 139 | 169 | 188 | 74 |
| Cash Conv. Cycle ⓘ | 40 | 40 | 43 | 59 | 81 | 49 | 59 | 64 | 66 | 54 | 39 |
Valuation of Ador Welding - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 408 | 442 | 458 | 513 | 526 | 448 | 661 | 1,074 | 1,123 | 1,140 |
| Operating Expenses ⓘ + | 367 | 411 | 423 | 468 | 484 | 426 | 601 | 955 | 1,019 | 1,031 |
| Operating Profit ⓘ | 42 | 31 | 35 | 45 | 42 | 22 | 60 | 119 | 104 | 109 |
| Operating Profit Margin (%) | 10.2% | 7.0% | 7.6% | 8.8% | 8.0% | 4.9% | 9.1% | 11.1% | 9.2% | 9.5% |
| Other Income ⓘ + | 5 | 9 | 10 | 10 | 9 | 7 | 5 | 19 | 19 | 32 |
| Interest ⓘ | 2 | 2 | 6 | 11 | 10 | 8 | 6 | 6 | 6 | 4 |
| Depreciation ⓘ | 12 | 11 | 10 | 10 | 11 | 11 | 11 | 16 | 18 | 19 |
| Profit Before Tax ⓘ | 32 | 27 | 28 | 36 | 31 | -14 | 58 | 117 | 87 | 115 |
| Tax ⓘ | 9 | 9 | 10 | 11 | 4 | -4 | 13 | 31 | 27 | 33 |
| Profit After Tax | 22 | 18 | 18 | 25 | 26 | -10 | 45 | 86 | 60 | 82 |
| PAT Margin (%) | 5.5% | 4.0% | 4.0% | 4.8% | 5.0% | -2.3% | 6.8% | 8.1% | 5.4% | 7.2% |
| Adjusted EPS (₹) | 16.5 | 13.1 | 13.5 | 18.0 | 19.2 | -7.6 | 33.2 | 63.6 | 34.5 | 47.1 |
| Dividend Payout Ratio (%) | 30.40% | 38.10% | 36.90% | 36% | 33.80% | 0% | 37.60% | 29.10% | 58% | 48.80% |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 217 | 235 | 245 | 261 | 247 | 238 | 282 | 469 | 507 | 554 | |
| Debt + | 0 | 36 | 81 | 65 | 82 | 28 | 1 | 43 | 1 | 1 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 78 | 73 | 75 | 67 | 73 | 77 | 78 | 85 | 125 | 194 | |
| Others Liabilities ⓘ | 75 | 72 | 62 | 73 | 55 | 76 | 75 | 184 | 183 | 255 | |
| Total Liabilities ⓘ | 370 | 415 | 463 | 467 | 457 | 419 | 435 | 781 | 816 | 1,003 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 100 | 94 | 95 | 108 | 118 | 117 | 117 | 146 | 186 | 193 | |
| CWIP ⓘ | 1 | 4 | 1 | 1 | 0 | 3 | 7 | 25 | 4 | 3 | |
| Investments ⓘ | 12 | 19 | 11 | 12 | 11 | 11 | 20 | 39 | 32 | 47 | |
| Inventories | 43 | 48 | 54 | 52 | 62 | 62 | 90 | 145 | 127 | 152 | |
| Trade Receivables | 120 | 77 | 92 | 85 | 130 | 105 | 93 | 180 | 193 | 232 | |
| Cash Equivalents | 14 | 22 | 17 | 28 | 7 | 18 | 8 | 47 | 67 | 93 | |
| Others Assets ⓘ | 80 | 152 | 194 | 182 | 129 | 102 | 100 | 198 | 207 | 283 | |
| Total Assets ⓘ | 370 | 415 | 463 | 467 | 457 | 419 | 435 | 781 | 816 | 1,003 | |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 23 | 0 | -37 | 64 | 14 | 79 | 26 | 58 | 137 | 116 |
| Cash Flow From Investing Activity ⓘ + | -4 | -12 | 0 | -19 | -22 | -7 | -5 | -44 | -17 | -66 |
| Cash Flow From Financing Activity ⓘ + | -9 | 19 | 32 | -33 | -13 | -61 | -31 | -19 | -94 | -38 |
| Net Cash Flow ⓘ | 10 | 7 | -4 | 11 | -22 | 12 | -10 | -5 | 26 | 12 |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 10.68 | 7.91 | 7.67 | 9.69 | 10.27 | -4.28 | 17.38 | 23.02 | 12.3 | 15.46 |
| ROCE (%) | 15.8 | 11.89 | 11.5 | 14.12 | 12.37 | -1.98 | 23.35 | 30.71 | 18.11 | 22.31 |
| Asset Turnover Ratio | 1.36 | 1.23 | 1.06 | 1.1 | 1.14 | 1.02 | 1.55 | 1.77 | 1.41 | 1.26 |
| PAT to CFO Conversion(x) | 1.05 | 0 | -2.06 | 2.56 | 0.54 | N/A | 0.58 | 0.67 | 2.28 | 1.41 |
| Working Capital Days | ||||||||||
| Receivable Days | 82.20 | 74.40 | 66.10 | 62.80 | 74.30 | 95.90 | 54.80 | 46.30 | 60.50 | 67.80 |
| Inventory Days | 34.80 | 34.40 | 39.90 | 37.50 | 39.50 | 50.80 | 42.10 | 39.90 | 44.10 | 44.50 |
| Payable Days | 80.70 | 88.30 | 82.50 | 71.50 | 69.30 | 84.60 | 60.10 | 43.10 | 52.70 | 82 |
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Ador Welding Ltd FAQs
The current trading price of Ador Welding on 25-Sep-2026 16:59 is ₹1,633.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 24-Sep-2026 the market cap of Ador Welding stood at ₹2,841.9 Cr
The latest P/E ratio of Ador Welding as of 24-Sep-2026 is 25.02.
The latest P/B ratio of Ador Welding as of 24-Sep-2026 is 4.81.
The 52-week high of Ador Welding is ₹1,765 and the 52-week low is ₹850.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ador Welding is ₹1,194 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Ador Welding Ltd is a average quality company.
The key valuation ratios of Ador Welding Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Ador Welding Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Ador Welding Ltd
Ador Welding (AWL) was incorporated in 1951 with an objective to offer finest range of welding consumables and equipment. AWL has also made large investments in project engineering and manufacturing of power generators and alternators.
AWL is a total solutions provider offering an up-to-date suite of welding and cutting consumables, power sources and accessories besides a full package of soft skills and knowledge development for welding and fabrication excellence.
The company operates three divisions through which it channelises solution based engineering experience are as follows:
- Metal Joining Processes And Solutions – This division covers the entire spectrum of metal joining processes. This includes welding, cutting and allied applications for all kinds of metals and every single industry and application.
- Project Engineering Division - The Project Engineering Division offers customized solutions to multi-disciplinary projects and contracts in the area of combustion engineering, thermal engineering and fabrication engineering.
- Energy Solutions – The Electrical or Energy Management Solutions Division offers high-end configuration of hardware and software solutions to end-users and GOEMs in power, infrastructure, telecom and other sectors.
AWL has with four manufacturing plants for the production and supply of welding consumables, power sources, welding automation systems, cutting products and accessories.
The company’s three welding consumables plants are ISO 9001:2000 standard certified for quality management systems and ISO 14001:2004 standard (for environment management systems) while its equipment plant at Chinchwad is certified to ISO 9001:2000 standards.
Further, the company operates 26 area and territory offices and nine field offices. It also has strong market presence in region like the Gulf/Middle East, South East Asia and Africa.
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