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Ador Welding

ADOR NSE
₹1,414.20 −17.00 (−1.19%)
P/E
21.46
View as Markdown
MCP
Close 4 Nov 2026 ₹1,414.20 +384.00 +37.3% 1Y
Start ₹1,030.20

Key Fundamentals

MicrocapIndustrial ProductsCapital Goods

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
22.70%
Debt to Equity
0.05
EPS (TTM)
₹65.89
Book Value
₹327.32
Market Cap
—
P/E (TTM)
21.46
P/B
4.32
ROE
16.40%
Dividend Yield
0.52%
EBITDA
₹139 Cr
52W High
₹1,766.40
52W Low
₹848.00
Day Range
₹1,405.70 – ₹1,436.10
Volume
9,835

Peer Comparison

Industrials › Industrial Products › Other Industrial Products

Ador Welding peer comparison
HBL Engineering
₹836.4029.69₹22,697 Cr10.470.37%45.30%59.30%₹3,339 Cr₹780 Cr
INOX India
₹1,936.7068.97₹17,030 Cr15.730.11%26.10%33.50%₹1,618 Cr₹255 Cr
ESAB India
₹5,330.0036.98₹8,482 Cr19.111.37%48.80%64.70%₹1,577 Cr₹222 Cr
KRN Heat Exchanger and Refrigeration
₹1,011.7065.95₹6,440 Cr6.730.00%14.10%16.00%₹737 Cr₹97 Cr
Harsha Engineers
₹462.0027.19₹4,075 Cr3.000.34%10.50%13.00%₹1,719 Cr₹154 Cr
Subros
₹595.1023.34₹3,836 Cr3.120.51%14.50%19.20%₹3,909 Cr₹167 Cr
Ador Welding (this company)
₹1,414.2021.46₹2,487 Cr4.320.52%16.40%22.70%₹1,258 Cr₹115 Cr
Median 7 companies₹1,011.7029.69₹6,440 Cr6.730.37%16.40%22.70%₹1,618 Cr₹167 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

63 Good

Data confidence 98/100

insider_selling

Category scores

Quality
64
Good
Returns, margins, earnings quality 22% weight
Valuation
65
Good
Cheap vs sector & own history 24% weight
Growth
43
Weak
Sales & profit trajectory 9% weight
Financial Health
83
Strong
Solvency, leverage, coverage 9% weight
Momentum
64
Good
Trend strength, vol-adjusted 12% weight
Ownership
65
Good
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 55.2%

Weaknesses

1
  • Promoter holding has decreased over last 3 years: -3.25%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish865
OscillatorsBearish261
Moving AveragesStrong Bearish604

Key readings

RSI (14)
45.87
Neutral
MACD (12,26,9)
−47.40
Bullish
SMA (50)
1,538.41
Bearish
SMA (200)
1,245.93
Bullish

As of

Analyst Rating

Based on 1 analysts
BUY100%

1 of 1 analyst rates Buy, 0 Hold, 0 Sell.

As of

BUY
1
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
10Y+10.80%
5Y+20.49%
3Y+13.46%
1Y+1.61%
TTM+13.13%

Net profit

Net profit growth by window
10Y+13.69%
5YTurned to profit
3Y+12.05%
1Y+93.02%
TTM+85.48%

Operating cash flow

Operating cash flow growth by window
10Y+18.19%
5Y+8.17%
3Y+102.93%
1Y−15.83%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+0.52 pp
5Y+5.92 pp
3Y−0.61 pp
1Y+1.44 pp
TTM+5.23 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹441 Cr
Mar 2018₹458 Cr
Mar 2019₹512 Cr
Mar 2020₹526 Cr
Mar 2021₹447 Cr
Mar 2022₹661 Cr
Mar 2023₹777 Cr
Mar 2024₹1,067 Cr
Mar 2025₹1,117 Cr
Mar 2026₹1,135 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹18.00 Cr
Mar 2018₹19.00 Cr
Mar 2019₹24.00 Cr
Mar 2020₹26.00 Cr
Mar 2021−₹12.00 Cr
Mar 2022₹45.00 Cr
Mar 2023₹59.00 Cr
Mar 2024₹89.00 Cr
Mar 2025₹43.00 Cr
Mar 2026₹83.00 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹163 Cr +16.6% vs FY26
Reported High Mean Low

Quarterly Results

₹ Cr
ADOR quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
276
260
296
268
268
273
308
251
280
287
318
309
344
Expenses
239
232
263
240
247
249
277
255
245
243
271
273
307
Operating Profit
36
28
33
28
21
24
31
−4
35
44
47
35
37
OPM %
13%
11%
11%
10%
8%
9%
10%
−1.8%
12%
15%
15%
11%
11%
Other Income
3.11
2.85
4.09
4.09
−36
4
5.29
5
5
−2
3
7
5
Interest
1
1
1
1
1
1
1
1
1
0
0
1
1
Depreciation
3.34
3.35
3.39
4
4
5
5
5
5
5
5
5
5
PBT
36
28
34
28
−21
23
30
−5
34
36
45
37
36
Tax %
25%
28%
26%
25%
−25%
26%
26%
−24%
25%
26%
26%
25%
26%
Net Profit
27
20
25
21
−16
17
22
−3
26
27
34
27
27
EPS (₹)
19.62
14.68
18.72
15.27
−11.83
9.66
12.64
−1.99
14.72
15.57
19.27
15.72
15.33

Profit & Loss

₹ Cr
ADOR profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
387
407
441
458
512
526
447
661
777
1,067
1,117
1,135
1,258
Expenses
358
365
410
423
468
484
425
601
688
946
1,011
1,013
1,094
Operating Profit
28
42
31
35
45
42
22
61
89
121
105
123
163
OPM %
7%
10%
7%
8%
9%
8%
5%
9%
11%
11%
9%
11%
13%
Other Income
34
3
9
10
10
9
−19
14
6
21
−23
11
13
Interest
1
2
2
6
11
10
8
6
4
6
4.52
4
3
Depreciation
12
12
11
10
10
11
11
11
12
15
18
19
20
PBT
48
32
27
28
35
30
−16
58
79
121
59
111
154
Tax %
33%
29%
33%
34%
31%
15%
−24%
23%
25%
26%
26%
26%
—
Net Profit
32
23
18
19
24
26
−12
45
59
89
43
83
115
EPS (₹)
23.8
16.66
13.32
13.65
17.54
18.84
−8.82
33.11
43.6
65.71
24.97
47.58
65.89
Div. Payout %
21%
30%
38%
37%
37%
34%
0%
38%
40%
37%
80%
48%
—

Balance Sheet

₹ Cr
ADOR balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
14
14
14
14
14
14
14
14
14
14
17
17
17
Reserves
190
205
224
234
250
235
224
268
310
485
498
546
561
Borrowings
0
0
35
81
65
82
29
2
17
45
2
3
30
Other Liabilities
82
118
107
102
103
108
108
109
111
158
180
271
220
Total Liabilities
286
337
380
430
431
439
375
393
452
701
698
838
828
Fixed Assets
96
99
101
102
115
125
116
117
123
156
196
204
202
CWIP
2
1
4
1
1
0
3
7
2
25
4
3
10
Investments
7
12
14
6
7
6
12
20
20
56
32
47
56
Other Assets
182
224
261
322
308
308
244
248
306
463
466
584
560
Total Assets
286
337
380
430
431
439
375
393
452
701
698
838
828

Cash Flow

₹ Cr
ADOR cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
1
22
0
−37
63
13
79
26
14
58
139
117
Investing
−8
−4
−11
0
−19
−21
−7
−5
−10
−42
−19
−67
Financing
−9
−9
19
33
−33
−13
−61
−31
−5
−19
−93
−38
Net Cash Flow
−17
10
7
−4
11
−22
12
−10
−1
−4
26
12
Free Cash Flow
−5
8
−16
−46
44
−9
71
28
0
16
100
95
CFO/EBITDA
21
81
33
−78
164
58
348
67
36
75
154
122

Ratios

ADOR financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
79
107
63
73
60
90
86
51
59
61
63
75
Inventory Days
59
58
56
60
52
62
70
70
81
77
64
78
Days Payable
56
106
85
84
67
72
87
60
51
45
62
100
Cash Conversion Cycle
81
60
34
50
45
80
69
61
89
93
64
53
Working Capital Days
61
68
64
81
66
56
42
54
65
61
60
53
ROCE %
11%
17%
12%
11%
14%
12%
6%
20%
27%
28%
20%
23%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Ador Welding insights

66 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 53.65%
  • Public 23.91%
  • DIIs 11.17%
  • Others 10.22%
  • FIIs 1.06%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Ador Welding

What does Ador Welding Ltd do?
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.
Where is Ador Welding Ltd (ADOR) listed?
Ador Welding Ltd trades as ADOR on the NSE and under code 517041 on the BSE.
Which sector does Ador Welding Ltd belong to?
Ador Welding Ltd is classified under the Industrial Products sector, in the Other Industrial Products industry.
What is the PE ratio of Ador Welding Ltd?
Ador Welding Ltd trades at a PE ratio of 21.46 as of 4 Nov 2026, on earnings per share of ₹65.89, against a book value of ₹327.32 per share.
What is the 52-week high and low of Ador Welding Ltd?
Over the last 52 weeks Ador Welding Ltd has traded between ₹848 and ₹1,766.4 as of 4 Nov 2026.
Does Ador Welding Ltd pay dividends?
Ador Welding Ltd has a dividend yield of 0.52%.
What is the Return on Equity (ROE) of Ador Welding Ltd?
Ador Welding Ltd reported a return on equity of 16.40%. Its debt-to-equity ratio is 0.05.

Company Information

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.

Website adorwelding.com
CEO Ms. Ninotchka Malkani Nagpal
Employees 853
Listed 10 May 1995
Face Value ₹10

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