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In quarter ended June 2019, Ador Welding registered 26% rise in sales to Rs 129.87 crore. OPM fell 30 basis points to 7.2% which saw OP rise 22% to Rs 9.41 crore.
Other income grew 26% to Rs 2.78 crore and interest cost grew 23% to Rs 2.00 crore.
As depreciation was up 6% to Rs 2.57 crore PBT grew 30% to Rs 7.62 crore. Provision for tax jumped 97% to Rs 3.14 crore after which PAT went up 5% to Rs 4.48 crore.
FY 2019 results
In FY 2019, Ador Welding registered 12% rise in sales to Rs 512.15 crore. OPM improved 100 basis points to 8.4% which saw OP rise 27% to Rs 43.01 crore.
Other income grew 7% to Rs 10.42 crore and interest cost grew 71% to Rs 9.05 crore.
Other expenses for FY 2018 include loss on account of fire incident at Silvassa plant on 16 Feb 2018, which was fully insured. During FY 2019, the insurance claim has been settled for Rs 2.45 crore and the same has been recognized under the head "Other income".
As depreciation was down 5% to Rs 9.60 crore PBT grew 23% to Rs 34.78 crore. Provision for tax grew 13% to Rs 10.93 crore after which PAT went up 29% to Rs 23.85 crore.
Segment results
For the quarter, sales of from the Consumables Division grew 39% to Rs 104.53 crore and accounted for 80% of total. PBIT from the same grew 43% to Rs 16.44 crore and accounted for 143% of total.
For the quarter, sales from the Equipment and Project Engineering Division fell 8% to Rs 25.49 crore and accounted for 20% of total. Loss at PBIT from the same stood at Rs 4.96 crore against of Rs 72 lakh and accounted for -43% of total.
In FY 2019, sales of from the Consumables Division grew 24% to Rs 385.98 crore and accounted for 75% of total. PBIT from the same grew 53% to Rs 63.17 crore and accounted for 119% of total.
In FY 2019, sales from the Equipment and Project Engineering Division fell 18% to Rs 126.51 crore and accounted for 25% of total. Loss at PBIT from the same jumped from Rs 60 lakh to Rs 10.10 crore and accounted for -19% of total.
Valuation
The stock trades at Rs 304.
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