Other income fell 9% to Rs 1.92 crore and interest cost grew 56% to Rs 2.84 crore. As depreciation was up 8% to Rs 2.54 crore PBT fell 30% to Rs 10.21 crore. Provision for tax fell 46% to Rs 2.78 crore after which PAT went down 21% to Rs 7.43 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.

FY 2019 consolidated results

In FY 2019, Ador Welding registered 12% rise in sales to Rs 413.28 crore. OPM improved 110 basis points to 8.6% which saw OP rise 29% to Rs 43.90 crore.

Other income grew 8% to Rs 10.35 crore and interest cost grew 70% 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 9.68 crore PBT grew 26% to Rs 35.52 crore. Provision for tax grew 13% to Rs 10.98 crore after which PAT went up 33% to Rs 24.54 crore.

Segment results

For the quarter, sales of from the Consumables Division grew 11% to Rs 112.31 crore and accounted for 75% of total. PBIT from the same grew 43% to Rs 21.57 crore and accounted for 152% of total.

For the quarter, sales from the Equipment and Project Engineering Division fell 15% to Rs 37.79 crore and accounted for 25% of total. Loss at PBIT from the same stood at Rs 7.40 crore against a profit of Rs 3.52 crore and accounted for -52% 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 Board has recommended a dividend for FY 2019 at Rs. 6.50 per share (previous year Rs 5 per share.

The stock trades at Rs 321.