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Ador Welding (ADOR)₹1,447−0.69%Other Industrial Products
In the Sep 2026 quarter (consolidated), Ador Welding reported sales of ₹345 Cr, up 22.8% from Sep 2025, and net profit of ₹27.07 Cr, up 8.1% year on year. For the year to Mar 2026, sales were ₹1,140 Cr and net profit ₹82.18 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 261 | 297 | 269 | 269 | 274 | 310 | 252 | 281 | 288 | 319 | 309 | 345 |
| Expenses | 234 | 264 | 241 | 248 | 250 | 278 | 255 | 245 | 243 | 271 | 273 | 306 |
| Operating Profit | 26.98 | 31.98 | 26.97 | 19.98 | 22.99 | 30.99 | −3.99 | 34.96 | 43.98 | 46.96 | 35.96 | 37.97 |
| OPM % | 10.0% | 11.0% | 10.0% | 7.0% | 8.0% | 10.0% | −1.8% | 12.0% | 15.0% | 15.0% | 12.0% | 11.0% |
| Other Income | 5.01 | 7.02 | 5.01 | −5.01 | 4.01 | 4.01 | 5.01 | 4.01 | −2.01 | 9.02 | 7.01 | 5.01 |
| Interest | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.00 | 0.00 | 0.99 | 0.99 |
| Depreciation | 3.99 | 3.99 | 3.99 | 3.99 | 4.99 | 4.98 | 4.99 | 4.99 | 4.99 | 4.99 | 4.99 | 4.98 |
| Profit before tax | 26.01 | 34.03 | 27.02 | 8.99 | 21.01 | 29.01 | −4.99 | 33.98 | 35.99 | 49.98 | 37.02 | 35.99 |
| Tax % | 29.1% | 24.1% | 26.1% | 28.0% | 28.1% | 38.0% | −21.9% | 26.0% | 26.1% | 32.0% | 25.1% | 26.1% |
| Exceptional items | 0.00 | 0.00 | 0.00 | −6.12 | 0.00 | −0.85 | 0.00 | 0.00 | −4.31 | 2.13 | 0.00 | 0.00 |
| Net Profit | 19.02 | 25.05 | 20.04 | 7.01 | 15.02 | 18.03 | −4.01 | 25.04 | 27.05 | 34.08 | 28.06 | 27.07 |
| EPS (Rs) | 13.75 | 18.65 | 14.59 | 4.92 | 8.84 | 10.38 | −2.26 | 14.35 | 15.34 | 19.63 | 15.84 | 15.49 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 388 | 408 | 442 | 458 | 513 | 526 | 448 | 661 | 1,075 | 1,124 | 1,140 | 1,261 |
| Expenses | 359 | 365 | 410 | 422 | 467 | 483 | 424 | 600 | 953 | 1,017 | 1,015 | 1,095 |
| Operating Profit | 27.99 | 41.96 | 30.96 | 34.98 | 45.99 | 41.98 | 21.97 | 60.93 | 119 | 104 | 123 | 165 |
| OPM % | 7.0% | 10.0% | 7.0% | 8.0% | 9.0% | 8.0% | 5.0% | 9.0% | 11.0% | 9.0% | 11.0% | 13.1% |
| Other Income | 34.07 | 3.01 | 9.03 | 10.03 | 10.03 | 9.02 | −17.03 | 14.04 | 19.04 | 7.02 | 15.04 | 19.03 |
| Interest | 0.99 | 1.99 | 1.99 | 5.99 | 10.99 | 9.98 | 7.99 | 5.99 | 5.99 | 5.99 | 3.99 | 1.98 |
| Depreciation | 12.97 | 11.97 | 10.97 | 9.98 | 9.97 | 10.97 | 10.98 | 10.98 | 15.95 | 17.94 | 18.95 | 19.95 |
| Profit before tax | 47.98 | 31.98 | 27.02 | 28.02 | 36.03 | 30.98 | −14.01 | 58.01 | 117 | 87.02 | 115 | 159 |
| Tax % | 33.0% | 29.1% | 34.1% | 34.1% | 31.0% | 14.1% | −26.0% | 22.0% | 26.1% | 31.0% | 29.0% | — |
| Exceptional items | 16.92 | −0.99 | 0.00 | 0.00 | 0.00 | 0.00 | −25.89 | 6.97 | 0.00 | −7.97 | −1.99 | −2.18 |
| Net Profit | 32.07 | 22.05 | 18.02 | 18.02 | 25.06 | 26.04 | −10.02 | 45.07 | 86.19 | 60.11 | 82.18 | 116 |
| EPS (Rs) | 23.42 | 16.46 | 13.11 | 13.53 | 18.06 | 19.20 | −7.62 | 33.20 | 63.54 | 34.50 | 47.06 | 66.30 |
| Dividend payout % | 21.0% | 30.0% | 38.0% | 37.0% | 36.0% | 34.0% | 0.0% | 38.0% | 39.0% | 58.0% | 49.0% | — |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13.95 | 13.94 | 13.95 | 13.95 | 13.96 | 13.96 | 13.95 | 13.95 | 13.94 | 16.95 | 16.96 |
| Reserves | 189 | 203 | 221 | 231 | 248 | 234 | 224 | 268 | 460 | 491 | 537 |
| Borrowings | 0.00 | 0.00 | 35.95 | 80.91 | 64.92 | 81.96 | 28.98 | 1.99 | 44.92 | 1.99 | 2.99 |
| Other Liabilities | 81.99 | 118 | 107 | 102 | 103 | 108 | 108 | 109 | 163 | 183 | 274 |
| Total Liabilities | 285 | 335 | 378 | 428 | 429 | 437 | 375 | 393 | 681 | 694 | 832 |
| Fixed Assets | 97.01 | 100 | 102 | 103 | 116 | 125 | 117 | 117 | 157 | 197 | 204 |
| CWIP | 1.99 | 0.99 | 3.99 | 1.01 | 1.01 | 0.00 | 2.99 | 6.99 | 25.02 | 4.01 | 3.01 |
| Investments | 5.99 | 11.97 | 10.97 | 1.99 | 3.99 | 3.99 | 10.98 | 19.96 | 38.93 | 31.93 | 46.93 |
| Other Assets | 179 | 222 | 261 | 322 | 309 | 308 | 244 | 248 | 459 | 461 | 576 |
| Inventories | 42.92 | 42.96 | 47.93 | 53.93 | 51.93 | 61.95 | 61.95 | 89.94 | 145 | 127 | 152 |
| Trade receivables | 82.91 | 120 | 76.92 | 91.84 | 84.89 | 130 | 105 | 92.88 | 180 | 193 | 232 |
| Cash & equivalents | 19.96 | 13.97 | 21.94 | 16.96 | 27.96 | 6.98 | 17.97 | 7.98 | 46.90 | 66.86 | 92.87 |
| Total Assets | 285 | 335 | 378 | 428 | 429 | 437 | 375 | 393 | 681 | 694 | 832 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 1.01 | 23.03 | 0.00 | −37.03 | 64.03 | 14.01 | 79.01 | 26.02 | 57.99 | 137 | 116 |
| Cash from investing activity | −9.01 | −4.01 | −12.02 | 0.00 | −19.03 | −22.03 | −7.01 | −5.01 | −44.04 | −17.03 | −66.09 |
| Cash from financing activity | −9.01 | −9.01 | 19.01 | 32.04 | −33.02 | −13.01 | −61.04 | −31.05 | −19.02 | −94.08 | −38.06 |
| Net cash flow | −16.98 | 9.98 | 6.98 | −3.99 | 10.98 | −21.97 | 11.98 | −9.99 | −4.99 | 25.96 | 11.99 |
| Capex | 9.25 | 14.99 | 16.40 | 8.88 | 19.07 | 21.89 | 9.06 | 17.27 | 43.20 | 41.11 | 22.11 |
| Free cash flow | −4.99 | 7.99 | −15.97 | −45.89 | 44.94 | −7.99 | 70.91 | 27.96 | 15.96 | 97.87 | 93.79 |
| CFO / OP % | 23.0% | 81.0% | 33.0% | −77.0% | 162.0% | 57.1% | 346.1% | 67.0% | 77.0% | 155.0% | 122.0% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 78 | 107 | 63 | 73 | 60 | 90 | 86 | 51 | 61 | 63 | 74 |
| Inventory days | 60 | 59 | 57 | 61 | 53 | 63 | 71 | 71 | 78 | 65 | 79 |
| Days payable | 57 | 109 | 85 | 84 | 67 | 72 | 87 | 60 | 45 | 63 | 100 |
| Cash conversion cycle | 81 | 56 | 34 | 50 | 45 | 79 | 69 | 61 | 93 | 64 | 53 |
| Working capital days | 60 | 66 | 62 | 80 | 65 | 55 | 41 | 53 | 55 | 57 | 52 |
| ROCE % | 10.0% | 17.1% | 12.1% | 11.1% | 14.1% | 12.1% | 6.1% | 20.1% | — | 20.1% | 23.1% |
For the Sep 2026 quarter, Ador Welding reported sales of ₹345 Cr, up 22.8% year on year and net profit of ₹27.07 Cr, up 8.1% year on year. The operating margin was 11.0%.
Ador Welding's sales for the year to Mar 2026 were ₹1,140 Cr; over the last twelve months they were ₹1,261 Cr.
Net profit for the year to Mar 2026 was ₹82.18 Cr, and ₹116 Cr over the last twelve months. Earnings per share over the same trailing period were ₹66.30.
Ador Welding reported borrowings of ₹2.99 Cr at Mar 2026, against cash and equivalents of ₹92.87 Cr.
Cash from operations was ₹116 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹93.79 Cr.