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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

₹1,120.90 -20.25 (-1.77%)

As on 04-Jun'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

₹1,120.90 -20.25 (-1.77%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,951 Cr.
Current Price
₹1,120.9
52-Week Low / High
₹850 / 1,259
TTM EPS
₹47.6
TTM Sales
₹1,135 Cr.
Book Value per Share
₹324
P/E Ratio
23.56
Lower than its 5-year historical median
Industry PE
44.7
Price to Book (P/B)
3.46
Lower than its 5-year historical median
Price to Sales (P/S)
1.72
In line with its 5-year historical median
EV/EBITDA
13.18
Lower than its 5-year historical median
Dividend Yield
2.39%
Profitability Efficiency
Return on Equity (ROE)
8.61%
Underperforms industry median
Return on Capital Employed (ROCE)
12.23%
Underperforms industry median
Return on Assets (ROA)
5.36%
Operating Profit Margin
9.4%
Net Profit Margin
3.89%
Gross Profit Margin
10.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
4.64%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-12.8%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-51.36%
Asset Quality
Promoter Holding
53.76%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹546 Cr.
Equity
₹17.4 Cr.
Face Value
₹10
All Time Low / High
₹11.60 / 1770.00

Ador Welding stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Somewhat Overvalued

Price Trend

Strong
Q.1 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?
Q.1 Revenue growth of Ador Welding Ltd vs industry peers?
Ador Welding Ltd revenue CAGR is 16.27%, compared to the industry median CAGR of 7.29%, indicating faster growth and gaining its market share.
Q.1 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.
Q.1 Stock return of Ador Welding Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 14.2% 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 end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 15.8%11.9%11.5%13.8%12.2%-2.5%23.4%26.7%28.7%12.2%-
Value Creation
Index
0.1-0.2-0.20.0-0.1-1.20.70.91.1-0.1-

Growth Parameters

Sales 4074414585125264476617771,0671,1171,135
Sales YoY Gr.-8.5%3.7%11.9%2.6%-14.9%47.9%17.4%37.4%4.6%-
Adj EPS 16.712.312.315.117.53.926.542.763.540.547.6
YoY Gr.--26.3%-0.2%23.1%16%-77.7%580%61.2%48.7%-36.3%-
BVPS (₹) 160.7174.6182.1193.7183174.6207.3237.9363.5296.4324
Adj Net
Profit
22.616.716.720.523.85.336.158.186.470.483
Cash Flow from Ops. 22.40.1-36.963137926.413.757.5139-
Debt/CF from Ops. 0253.4-2.216.30.401.20.80-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 11.9%16.3%19.1%4.6%
Adj EPS 10.4%18.3%15.1%-36.3%
BVPS7%10.1%12.7%-18.5%
Share Price 14.6% 15.8% -0.9% 12.8%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
10.77.36.989.32.213.919.22113.915.3
Op. Profit
Mgn %
10.37.17.88.78.15.19.211.411.39.510
Net Profit
Mgn %
5.63.83.644.51.25.57.58.16.37.3
Debt to
Equity
00.20.30.30.30.100.10.100
Working Cap
Days
15418524223422224115313613916974
Cash Conv.
Cycle
5640404359814959646639

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales4074414585125264476617771,0671,117
Operating Expenses + 3654104234684844266016889461,011
Manufacturing Costs24252528302737457174
Material Costs268311327362368324470523686723
Employee Cost 383938414238495798108
Other Costs 353432364437456491106
Operating Profit 4131354542226089121105
Operating Profit Margin (%) 10.2%7.0%7.6%8.7%7.9%4.8%9.1%11.4%11.3%9.4%
Other Income + 69101097572120
Exceptional Items -20000-259-10-43
Interest 226111086466
Depreciation 12111010111111121518
Profit Before Tax 3227283530-16587912159
Tax 9910114-413203115
Profit After Tax 2318192426-1245598943
PAT Margin (%) 5.6%4.1%4.1%4.7%4.9%-2.7%6.8%7.6%8.4%3.9%
Adjusted EPS (₹)16.713.313.717.518.8-8.833.143.665.725.0
Dividend Payout Ratio (%)30%37.50%36.60%37.10%34.50%0%37.80%40.10%28.20%80.10%

Valuation of Ador Welding - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 218237248263249237282324494516
Share Capital 14141414141414141417
Reserves 205224234250235224268310481498
Debt +03581658228116431
Long Term Debt0000001111
Short Term Debt03581658228015420
Minority Interest0000000000
Trade Payables787375677377787384124
Others Liabilities 4071627355767935187175
Total Liabilities 337417466468459419439447808815

Fixed Assets

Net Fixed Assets +999293106116116110113145186
Gross Block241238248267287284282286355403
Accumulated Depreciation142146155162171168172173210217
CWIP 14110372254
Investments 12241516141220205632
Inventories43485452626290116145126
Trade Receivables12076928513010593125179192
Cash Equivalents 14221728618874767
Others Assets 4815219418212910211164211208
Total Assets 337417466468459419439447808815

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 220-37631379261458139
PBT 3427283530-16587912159
Adjustment 11914172451418955
Changes in Working Capital -11-26-6921-3042-22-65-3850
Tax Paid -11-10-10-10-112-14-18-34-24
Cash Flow From Investing Activity + -4-110-19-21-7-5-10-42-19
Capex -15-16-9-19-22-21-14-42-40
Net Investments 1037-3-2-6-92-416
Others 1222222244
Cash Flow From Financing Activity + -91933-33-13-61-31-5-19-93
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -1-1-5-9-9-6-4-2-4-4
Dividend Paid -7-7-7-7-1800-17-41-46
Others -22644-1813-54-271526-43
Net Cash Flow 107-411-2212-10-1-426

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)10.727.957.659.3310-4.9317.3419.5921.858.61
ROCE (%)15.7911.9111.4513.812.17-2.5223.3626.6628.6712.23
Asset Turnover Ratio1.431.281.051.11.131.021.541.751.711.38
PAT to CFO Conversion(x)0.960-1.952.630.5N/A0.580.240.653.23
Working Capital Days
Receivable Days82.3074.4066.1062.9074.4095.9054.8051.3051.9060.60
Inventory Days34.9034.4039.9037.6039.5050.9042.1048.4044.5044.20
Payable Days80.7088.2082.3071.4069.2084.6060.1052.5041.8052.40

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Ador Welding Ltd FAQs

The current trading price of Ador Welding on 04-Jun-2026 16:59 is ₹1,120.9.

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 03-Jun-2026 the market cap of Ador Welding stood at ₹1,950.7 Cr

The latest P/E ratio of Ador Welding as of 03-Jun-2026 is 23.56.

The latest P/B ratio of Ador Welding as of 03-Jun-2026 is 3.46.

The 52-week high of Ador Welding is ₹1,258.9 and the 52-week low is ₹850.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ador Welding is ₹1,135 ( 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 Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Ador Welding Ltd is likely to Rise 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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