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Results
07-Aug-21
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Analysis
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Ador Welding
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Consumables and equipment leads growth
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Standalone net sales (including other operating income) of Ador Welding for the
quarter ended Jun 2021 has increased 133% to Rs 127.88 crore. Operating
profit margin has jumped from 4.6% to 8.7%, leading to 338% rise in operating
profit to Rs 11.12 crore. Raw material cost as a % of total sales
(net of stock adjustments) increased from 68.50% to 69.59%.
Purchase of finished goods cost rose from 0.48% to 4.21%.
Employee cost decreased from 13.92% to 7.82%. Other
expenses fell from 12.71% to 10.57%. Other income fell 27% to Rs
1.59 crore. Provision for interest fell 57% to Rs 0.93
crore. Provision for depreciation down 4% to Rs 2.7
crore. Provision for tax was debit of Rs 2.33 crore, compared to
credit of Rs 0.04 crore. Effective tax rate was 25.66% compared to
16.00%. Thus the PAT was a profit of Rs 6.75 crore compared to a loss of Rs
0.21 crore in the corresponding previous period.
Sales of Consumables segment has gone up 147.63% to Rs 104.18 crore
(accounting for 81.03% of total sales). Sales of Equipments and
Automation segment has gone up 149.24% to Rs 19.74 crore (accounting for 15.35%
of total sales). Sales of Flares & Process Equipment Division
segment has gone down 4.71% to Rs 4.65 crore (accounting for 3.62% of total
sales). Inter-segment sales rose Rs 0.01 crore to Rs 0.69
crore.
Profit before interest, tax and other unallocable items (PBIT) has
jumped 341.52% to Rs 12.76 crore. PBIT of Consumables segment rose
229.45% to Rs 11.30 crore (accounting for 88.56% of total
PBIT). PBIT of Equipments and Automation reported profit of Rs 2.18
crore compared to loss of Rs 1.14 crore. PBIT of Flares & Process
Equipment Division was a loss of Rs 0.72 crore compared to a profit of Rs 0.60
crore in the corresponding previous period.
PBIT margin of Consumables segment rose from 8.15% to
10.85%. PBIT margin of Equipments and Automation segment rose from
negative 14.39% to 11.04%. Overall PBIT margin rose from 5.27% to
9.92%.
Other developments
Promoters’ stake was 56.90% as of 30
June 2021, compared to 56.75% as of 30 June 2020.
Ador
Welding : Standalone Results
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2106
(3)
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2006
(3)
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Var.
(%)
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2103
(12)
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2003
(12)
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Var.
(%)
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Sales
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127.88
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54.86
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133
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447.28
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525.56
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-15
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OPM (%)
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8.7
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4.6
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4.4
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7.7
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OP
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11.12
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2.54
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338
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19.89
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40.28
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-51
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Other
inc.
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1.59
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2.18
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-27
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7.31
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9.08
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-19
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PBIDT
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12.71
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4.72
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169
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27.20
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49.36
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-45
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Interest
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0.93
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2.15
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-57
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6.41
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8.61
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-26
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PBDT
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11.78
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2.57
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358
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20.79
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40.75
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-49
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Dep.
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2.70
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2.82
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-4
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11.10
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10.68
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4
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PBT
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9.08
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-0.25
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LP
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9.69
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30.07
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-68
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EO Exp
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0.00
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0.00
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25.37
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0.00
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PBT
after EO
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9.08
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-0.25
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LP
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-15.68
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30.07
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-152
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Taxation
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2.33
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-0.04
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PL
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-3.69
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4.45
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-183
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PAT
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6.75
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-0.21
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LP
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-11.99
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25.62
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-147
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EPS
(Rs)*
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#
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#
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5.4
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18.8
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* EPS
is on current equity of Rs 13.60 crore, Face value of Rs 10
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# EPS
is not annualised due to seasonality of business
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Figures
in Rs crore
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Source:
Capitaline Corporate Database
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