Standalone net sales (including other operating income) of Ador Welding for the quarter ended Mar 2023 has increased 17.85% to Rs 235.48 crore. Operating profit margin has jumped from 8.85% to 13.50%, leading to 79.75% rise in operating profit to Rs 31.78 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 57.60% to 62.89%. Purchase of finished goods cost fell from 10.92% to 2.55%. Employee cost increased from 6.52% to 6.53%. Other expenses fell from 15.36% to 14.16%. Other income fell 12.68% to Rs 1.24 crore. PBIDT rose 72.88% to Rs 33.02 crore. Provision for interest fell 6.76% to Rs 0.69 crore.
PBDT rose 76.09% to Rs 32.33 crore. Provision for depreciation rose 8.16% to Rs 3.05 crore. Profit before tax grew 88.42% to Rs 29.28 crore. Extraordinary items were decreased to Rs 0.66 crore. Provision for tax was expense of Rs 7.39 crore, compared to Rs 4.01 crore. Effective tax rate was 24.68% compared to 23.30%. Profit after tax rose 70.83% to Rs 22.55 crore. Full year results analysis
Net sales (including other operating income) of Ador Welding has increased 17.43% to Rs 776.76 crore. Operating profit margin has jumped from 8.83% to 11.23%, leading to 49.36% rise in operating profit to Rs 87.21 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 62.74% to 64.58%. Purchase of finished goods cost fell from 8.71% to 3.34%. Employee cost decreased from 7.25% to 7.19%. Other expenses rose from 12.60% to 13.86%. Other income up 23.29% to Rs 6.67 crore. PBIDT rose 47.15% to Rs 93.88 crore. Provision for interest fell 36.56% to Rs 2.36 crore. Loan funds rose to Rs 17.28 crore as of 31 March 2023 from Rs 2.21 crore as of 31 March 2022. Inventories rose to Rs 116.21 crore as of 31 March 2023 from Rs 89.97 crore as of 31 March 2022. Sundry debtors were higher at Rs 125.17 crore as of 31 March 2023 compared to Rs 93.15 crore as of 31 March 2022. Cash and bank balance declined from Rs 7.63 crore as of 31 March 2022 to Rs 6.89 crore as of 31 March 2023. Investments rose to Rs 20.28 crore as of 31 March 2023 from Rs 19.88 crore as of 31 March 2022 . PBDT rose 52.33% to Rs 91.52 crore. Provision for depreciation rose 7.20% to Rs 11.61 crore. Fixed assets increased to Rs 124.18 crore as of 31 March 2023 from Rs 123.87 crore as of 31 March 2022. Intangible assets increased from Rs 0.70 crore to Rs 0.88 crore. Profit before tax grew 62.25% to Rs 79.91 crore. Provision for tax was expense of Rs 19.82 crore, compared to Rs 13.04 crore. Effective tax rate was 25.05% compared to 22.39%. Profit after tax rose 31.20% to Rs 59.29 crore. Others BOD at its meeting held on 31 May, 2022, approved the Scheme of Amalgamation (Merger by Absorption) of Ador Fontcch Limited with the company. The Company had obtained necessary NOCs from the Stock exchanges and subsequently filled appilication with NCLT. Tue NCLT Mumbai bench has passed order on 18 May,
2023 wherein directed the Company to convene the meeting of the Shareholden on 10 August, 2023, dispensed with convening the meeting of the Secured Creditors and issue notices to the Unsecured Creditors of value - Rs. 1.00 Lakh and above. Equity capital stood at Rs 13.60 crore as of 31 March 2023 to Rs 13.60 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00. Promoters’ stake was 56.90% as of 31 March 2023 ,compared to 56.90% as of 31 March 2022 . The Board has recommended a dividend for the FY 2022-23@Rs.17.5 pee share, i.e. 175% of the face value of Rs.10 each. Loan funds rose to Rs 17.28 crore as of 31 March 2023 from Rs 2.21 crore as of 31 March 2022. Inventories rose to Rs 116.21 crore as of 31 March 2023 from Rs 89.97 crore as of 31 March 2022. Sundry debtors were higher at Rs 125.17 crore as of 31 March 2023 compared to Rs 93.15 crore as of 31 March 2022. Cash and bank balance declined from Rs 7.63 crore as of 31 March 2022 to Rs 6.89 crore as of 31 March 2023. Investments rose to Rs 20.28 crore as of 31 March 2023 from Rs 19.88 crore as of 31 March 2022 . Fixed assets increased to Rs 124.18 crore as of 31 March 2023 from Rs 123.87 crore as of 31 March 2022. Intangible assets increased from Rs 0.70 crore to Rs 0.88 crore.
| Ador Welding : Standalone Results | | Quarter ended | Year ended |
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| Particulars | 202303 | 202203 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 235.48 | 199.81 | 17.85 | 776.76 | 661.48 | 17.43 | | OPM (%) | 13.50 | 8.85 | 465 bps | 11.23 | 8.83 | 240 bps | | OP | 31.78 | 17.68 | 79.75 | 87.21 | 58.39 | 49.36 | | Other Inc. | 1.24 | 1.42 | -12.68 | 6.67 | 5.41 | 23.29 | | PBIDT | 33.02 | 19.10 | 72.88 | 93.88 | 63.80 | 47.15 | | Interest | 0.69 | 0.74 | -6.76 | 2.36 | 3.72 | -36.56 | | PBDT | 32.33 | 18.36 | 76.09 | 91.52 | 60.08 | 52.33 | | Depreciation | 3.05 | 2.82 | 8.16 | 11.61 | 10.83 | 7.20 | | PBT | 29.28 | 15.54 | 88.42 | 79.91 | 49.25 | 62.25 | | PBT before EO | 29.28 | 15.54 | 88.42 | 79.91 | 49.25 | 62.25 | | EO Income | 0.66 | 1.67 | -60.48 | -0.8 | 8.98 | PL | | PBT after EO | 29.94 | 17.21 | 73.97 | 79.11 | 58.23 | 35.86 | | Taxation | 7.39 | 4.01 | 84.29 | 19.82 | 13.04 | 51.99 | | PAT | 22.55 | 13.2 | 70.83 | 59.29 | 45.19 | 31.20 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 22.55 | 13.2 | 70.83 | 59.29 | 45.19 | 31.20 | | EPS (Rs)* | 16.21 | 8.76 | 84.98 | 44.04 | 28.10 | 56.70 | | | * EPS is on current equity of Rs 13.60 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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Peer Comparision (Standalone)
|
Q-202303
|
Sales
(Rs. Crs)
|
var.(%)
|
OP
(Rs. Crs)
|
var.(%)
|
Net Profit
(Rs. Crs)
|
var.(%)
|
Share Price(Rs)
30-May-2023
|
var.(%)
over
One year
|
TTM EPS
|
TTM PE
|
|
Ador Welding Ltd
|
235.48
|
17.85
|
33.10
|
57.47
|
22.07
|
83.92
|
1,207.50
|
81.44
|
44.08
|
27.39
|
|
Ador Fontech Ltd
|
57.58
|
12.33
|
9.21
|
15.41
|
5.82
|
9.4
|
107.80
|
50.24
|
6.00
|
17.96
|
|
D & H India Ltd
|
45.87
|
26.26
|
2.47
|
73.94
|
0.92
|
-17.12
|
67.47
|
139.26
|
5.35
|
12.60
|
|
Esab India Ltd
|
301.68
|
13.97
|
56.71
|
86.73
|
41.86
|
96.25
|
3,896.40
|
17.03
|
88.16
|
44.20
|
|
Rasi Electrodes Ltd
|
22.87
|
9.58
|
0.81
|
62
|
0.68
|
65.85
|
15.94
|
65.87
|
0.97
|
16.49
|
|
Industry
|
663.48
|
15.79
|
102.30
|
66.91
|
71.35
|
77.62
|
7,076.65
|
22.11
|
|
22.80
|
|