Other income fell 51% to Rs 2.10 crore and interest cost grew 271% to 1.82 crore. As depreciation was down 14% to Rs 2.36 crore PBT went up 32% to Rs 14.57 crore. Provision for tax increased 45% to Rs 5.13 crore after which PAT grew 27% to Rs 9.44 crore.

For FY 2018, Ador Welding registered an 4% rise in sales to Rs 457.74 crore. OPM improved 60 basis points to 7.4% which saw OP grow 13% to Rs 33.92 crore.

Other income grew 4% to Rs 9.71 crore and interest cost jumped 410% to Rs 5.30 crore. As depreciation was down 10 to Rs 10.08 crore PBT grew 4% to Rs 28.25 crore. Provision for tax went up 7% to Rs 9.69 crore after which PAT increased 2% to Rs 18.56 crore.

Segment results

For the quarter, sales of from the Consumables Division stood grew 6% to Rs 100.56 crore and accounted for 69% of total. PBIT from the same grew 21% to Rs 15.09 crore and accounted for 81% of total.

For the quarter, sales from the Equipment and Project Engineering Division fell 41% to Rs 44.64 crore and accounted for 31% of total. PBIT from the same grew 44% to Rs 3.52 crore and accounted for 19% of total.

For FY 2018, sales of from the Consumables Division fell 1% to Rs 311.29 crore and accounted for 67% of total. PBIT from the same grew 14% to Rs 41.34 crore and accounted for 101% of total.

For FY 2018, sales from the Equipment and Project Engineering Division fell 8% to Rs 153.42 crore and accounted for 33% of total. Loss at the PBIT level from the same stood at Rs 60 lakh against a profit of Rs 2.91 crore and accounted for -1% of total.

Valuation

The stock trades at Rs 355