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Results
04-Feb-23
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Analysis
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Ador Welding
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Sales up 14%, net up 54%
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Standalone net sales (including other operating income) of Ador Welding for
the quarter ended Dec 2022 has increased 13.91% to Rs 198.53 crore. Operating
profit margin has jumped from 9.42% to 12.10%, leading to 46.44% rise in
operating profit to Rs 24.03 crore. Raw material cost as a % of
total sales (net of stock adjustments) increased from 60.54% to 65.40%.
Purchase of finished goods cost fell from 11.50% to 3.24%.
Employee cost decreased from 7.01% to 6.71%. Other
expenses rose from 12.25% to 13.29%. Other income up 50.41% to Rs
1.82 crore. PBIDT rose 46.71% to Rs 25.85
crore. Provision for interest fell 15.56% to Rs 0.76
crore. PBDT rose 50.06% to Rs 25.09 crore. Provision for
depreciation rose 8.65% to Rs 2.89 crore. Profit before tax grew
57.89% to Rs 22.20 crore. Provision for tax was expense of Rs 5.63
crore, compared to Rs 3.62 crore. Effective tax rate was 25.60%
compared to 25.46%. Profit after tax rose 54.34% to Rs 16.36 crore.
Sales of Consumables segment has gone up 13.29% to Rs 158.08 crore
(accounting for 79.54% of total sales). Sales of Equipments and
Automation segment has gone up 14.57% to Rs 28.23 crore (accounting for 14.20%
of total sales). Sales of Flares & Process Equipment Division
segment has gone up 18.83% to Rs 12.43 crore (accounting for 6.25% of total
sales). Inter-segment sales came down from Rs 0.35 crore to Rs 0.21
crore.
Profit before interest, tax and other unallocable items (PBIT) has
jumped 44.45% to Rs 28.11 crore. PBIT of Consumables segment rose
33.98% to Rs 24.05 crore (accounting for 85.56% of total PBIT). PBIT
of Equipments and Automation segment rose 133.65% to Rs 2.43 crore (accounting
for 8.64% of total PBIT). PBIT of Flares & Process Equipment
Division segment rose 246.81% to Rs 1.63 crore (accounting for 5.80% of total
PBIT).
PBIT margin of Consumables segment rose from 12.86% to
15.21%. PBIT margin of Equipments and Automation segment rose from
4.22% to 8.61%. PBIT margin of Flares & Process Equipment
Division segment rose from 4.49% to 13.11%. Overall PBIT margin rose
from 11.14% to 14.14%.
Consolidated net sales of Ador Welding for the quarter ended Dec 2022 has
increased 13.91% to Rs 198.53 crore. Operating profit margin has
jumped from 9.42% to 12.10%, leading to 46.44% rise in operating profit to Rs
24.03 crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 60.54% to 65.40%. Purchase of finished
goods cost fell from 11.50% to 3.24%. Employee cost decreased from
7.01% to 6.71%. Other expenses rose from 12.25% to 13.29%.
Other income rose 52.07% to Rs 1.84 crore. PBIDT rose
46.82% to Rs 25.87 crore. Provision for interest fell 15.56% to Rs
0.76 crore. PBDT rose 50.18% to Rs 25.11 crore. Provision
for depreciation rose 8.58% to Rs 2.91 crore. Profit before tax grew
58.12% to Rs 22.20 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 5.63 crore, compared to
Rs 3.62 crore. Effective tax rate was 25.60% compared to 25.49%. Minority
interest was nil in both the periods. Net profit attributable to
owners of the company increased 54.63% to Rs 16.36 crore.
Sales of Consumables segment has gone up 13.29% to Rs 158.08 crore
(accounting for 79.54% of total sales). Sales of Equipments and
Automation segment has gone up 14.57% to Rs 28.23 crore (accounting for 14.20%
of total sales). Sales of Flares & Process Equipment Division
segment has gone up 18.83% to Rs 12.43 crore (accounting for 6.25% of total
sales). Inter-segment sales came down from Rs 0.35 crore to Rs 0.21
crore.
Profit before interest, tax and other unallocable items (PBIT) has
jumped 44.60% to Rs 28.11 crore. PBIT of Consumables segment rose
33.98% to Rs 24.05 crore (accounting for 85.56% of total PBIT). PBIT
of Equipments and Automation segment rose 138.24% to Rs 2.43 crore (accounting
for 8.64% of total PBIT). PBIT of Flares & Process Equipment
Division segment rose 246.81% to Rs 1.63 crore (accounting for 5.80% of total
PBIT).
PBIT margin of Consumables segment rose from 12.86% to
15.21%. PBIT margin of Equipments and Automation segment rose from
4.14% to 8.61%. PBIT margin of Flares & Process Equipment
Division segment rose from 4.49% to 13.11%. Overall PBIT margin rose
from 11.13% to 14.14%.
Nine month performance
Standalone net sales (including other operating income) of Ador Welding
has increased 17.24% to Rs 541.28 crore. Operating profit margin has
jumped from 8.82% to 10.25%, leading to 36.23% rise in operating profit to Rs
55.46 crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 64.69% to 65.27%. Purchase of finished
goods cost fell from 7.88% to 3.67%. Employee cost decreased from
7.52% to 7.46%. Other expenses rose from 11.56% to 13.73%.
Other income up 35.34% to Rs 5.4 crore. PBIDT rose
36.15% to Rs 60.86 crore. Provision for interest fell 43.96% to Rs
1.67 crore. PBDT rose 41.87% to Rs 59.19 crore. Provision
for depreciation rose 6.12% to Rs 8.5 crore. Profit before tax grew
50.37% to Rs 50.69 crore. Provision for tax was expense of Rs 12.43
crore, compared to Rs 9.03 crore. Effective tax rate was 25.25%
compared to 22.01%. Profit after tax rose 15.04% to Rs 36.80 crore.
Sales of Consumables segment has gone up 15.65% to Rs 427.53 crore
(accounting for 78.91% of total sales). Sales of Equipments and
Automation segment has gone up 10.29% to Rs 79.42 crore (accounting for 14.66%
of total sales). Sales of Flares & Process Equipment Division
segment has gone up 63.57% to Rs 34.84 crore (accounting for 6.43% of total
sales). Inter-segment sales came down from Rs 1.33 crore to Rs 0.51
crore.
Profit before interest, tax and other unallocable items (PBIT) has
jumped 42.14% to Rs 67.29 crore. PBIT of Consumables segment rose
40.04% to Rs 58.83 crore (accounting for 87.43% of total PBIT). PBIT
of Equipments and Automation segment fell 23.06% to Rs 4.87 crore (accounting
for 7.24% of total PBIT). PBIT of Flares & Process Equipment
Division reported profit of Rs 3.59 crore compared to loss of Rs 1.00
crore.
PBIT margin of Consumables segment rose from 11.36% to
13.76%. PBIT margin of Equipments and Automation segment fell from
8.79% to 6.13%. PBIT margin of Flares & Process Equipment
Division segment rose from negative 4.69% to 10.30%. Overall PBIT
margin rose from 10.22% to 12.42%.
Consolidated net sales (including other
operating income) of Ador Welding has increased 17.24% to Rs 541.28
crore. Sales of Consumables segment has gone down 62.26% to Rs
139.53 crore (accounting for 79.99% of total sales). Sales of
Equipments and Automation segment has gone down 99.90% to Rs 0.07 crore
(accounting for 0.04% of total sales). Sales of Flares & Process
Equipment Division segment has gone up 63.57% to Rs 34.84 crore (accounting for
19.97% of total sales). Inter-segment sales came down from Rs 1.33
crore to Rs 0.51 crore.
Profit before interest, tax and other
unallocable items (PBIT) has jumped 42.10% to Rs 67.24 crore. PBIT
of Consumables segment rose 40.04% to Rs 58.83 crore (accounting for 87.49% of
total PBIT). PBIT of Equipments and Automation segment fell 23.61%
to Rs 4.82 crore (accounting for 7.17% of total PBIT). PBIT of
Flares & Process Equipment Division reported profit of Rs 3.59 crore
compared to loss of Rs 1.00 crore.
PBIT margin of Consumables segment rose
from 11.36% to 42.16%. PBIT margin of Equipments and Automation
segment rose from 8.76% to 6,885.71%. PBIT margin of Flares & Process
Equipment Division segment rose from negative 4.69% to
10.30%. Overall PBIT margin rose from 10.22% to 38.55%.
Operating profit margin has jumped from 8.82% to 10.24%, leading to
36.22% rise in operating profit to Rs 55.44 crore. Raw material cost
as a % of total sales (net of stock adjustments) increased from 64.69% to
65.27%. Purchase of finished goods cost fell from 7.88% to 3.67%.
Employee cost decreased from 7.52% to 7.46%. Other
expenses rose from 11.56% to 13.73%.
Other income rose 34.41% to Rs 5.43
crore. PBIDT rose 36.05% to Rs 60.87 crore. Provision for
interest fell 43.96% to Rs 1.67 crore.
PBDT rose 41.76% to Rs 59.2
crore. Provision for depreciation rose 6.07% to Rs 8.56
crore.
Profit before tax grew 50.31% to Rs 50.64 crore. Share of
profit/loss were nil in both the periods. Provision for tax was
expense of Rs 12.43 crore, compared to Rs 9.03 crore. Effective tax
rate was 25.27% compared to 22.02%.
Minority interest was nil in both the
periods. Net profit attributable to owners of the company increased
14.95% to Rs 36.75 crore.
Promoters’ stake was 56.90% as of 31
December 2022 ,compared to 56.90% as of 31 December 2021 . | Ador Welding : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202212 | 202112 | Var.(%) | 202212 | 202112 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 198.53 | 174.28 | 13.91 | 541.28 | 461.67 | 17.24 | 661.48 | 447.68 | 47.76 | | OPM (%) | 12.10 | 9.42 | 269 bps | 10.24 | 8.82 | 143 bps | 8.82 | 4.49 | 433 bps | | OP | 24.03 | 16.41 | 46.44 | 55.44 | 40.70 | 36.22 | 58.37 | 20.10 | 190.40 | | Other Inc. | 1.84 | 1.21 | 52.07 | 5.43 | 4.04 | 34.41 | 5.48 | 7.39 | -25.85 | | PBIDT | 25.87 | 17.62 | 46.82 | 60.87 | 44.74 | 36.05 | 63.85 | 27.49 | 132.27 | | Interest | 0.76 | 0.90 | -15.56 | 1.67 | 2.98 | -43.96 | 3.72 | 6.41 | -41.97 | | PBDT | 25.11 | 16.72 | 50.18 | 59.20 | 41.76 | 41.76 | 60.13 | 21.08 | 185.25 | | Depreciation | 2.91 | 2.68 | 8.58 | 8.56 | 8.07 | 6.07 | 10.9 | 11.17 | -2.42 | | PBT | 22.20 | 14.04 | 58.12 | 50.64 | 33.69 | 50.31 | 49.23 | 9.91 | 396.77 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 22.2 | 14.04 | 58.12 | 50.64 | 33.69 | 50.31 | 49.23 | 9.91 | 396.77 | | EO Income | -0.21 | 0.16 | PL | -1.46 | 7.31 | PL | 8.98 | -23.97 | LP | | PBT after EO | 21.99 | 14.2 | 54.86 | 49.18 | 41 | 19.95 | 58.21 | -14.06 | LP | | Taxation | 5.63 | 3.62 | 55.52 | 12.43 | 9.03 | 37.65 | 13.05 | -3.68 | PL | | PAT | 16.36 | 10.58 | 54.63 | 36.75 | 31.97 | 14.95 | 45.16 | -10.38 | LP | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 16.36 | 10.58 | 54.63 | 36.75 | 31.97 | 14.95 | 45.16 | -10.38 | LP | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 16.36 | 10.58 | 54.63 | 36.75 | 31.97 | 14.95 | 45.16 | -10.38 | LP | | EPS (Rs)* | 12.15 | 7.69 | 57.93 | 27.82 | 19.32 | 44.04 | 28.08 | 7.29 | 285.37 | | | * 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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| Ador Welding : Consolidated Segment Results | | | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202212 | 202112 | Var.(%) | % of (Total) | 202212 | 202112 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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| Sales | | Consumables | 79.54 | 158.08 | 139.53 | 13.29 | 79.99 | 139.53 | 369.69 | -62.26 | 80.81 | 535.71 | 352.33 | 52.05 | | Equipments and Automation | 14.20 | 28.23 | 24.64 | 14.57 | 0.04 | 0.07 | 72.01 | -99.90 | 14.90 | 98.78 | 71.25 | 38.64 | | Flares & Process Equipment Division | 6.25 | 12.43 | 10.46 | 18.83 | 19.97 | 34.84 | 21.30 | 63.57 | 4.29 | 28.43 | 24.73 | 14.96 | | Total Reported Sales | 100.00 | 198.74 | 174.63 | 13.81 | 100.00 | 174.44 | 463.00 | -62.32 | 100.00 | 662.92 | 448.31 | 47.87 | | Less: Inter segment revenues | | 0.21 | 0.35 | -40.00 | | 0.51 | 1.33 | -61.65 | | 1.44 | 0.63 | 128.57 | | Net Sales | 100.00 | 198.53 | 174.28 | 13.91 | 100.00 | 173.93 | 461.67 | -62.33 | 100.00 | 661.48 | 447.68 | 47.76 | | PBIT | | Consumables | 85.56 | 24.05 | 17.95 | 33.98 | 87.49 | 58.83 | 42.01 | 40.04 | 89.72 | 60.60 | 42.68 | 41.99 | | Equipments and Automation | 8.64 | 2.43 | 1.02 | 138.24 | 7.17 | 4.82 | 6.31 | -23.61 | 11.61 | 7.84 | 5.73 | 36.82 | | Flares & Process Equipment Division | 5.80 | 1.63 | 0.47 | 246.81 | 5.34 | 3.59 | -1.00 | LP | -1.33 | -0.90 | -24.96 | 96.39 | | Total PBIT | 100.00 | 28.11 | 19.44 | 44.60 | 100.00 | 67.24 | 47.32 | 42.10 | 100.00 | 67.54 | 23.45 | 188.02 | | Less : Interest | | 0.56 | 0.72 | -22.22 | | 1.21 | 2.06 | -41.26 | | 2.56 | 3.35 | -23.58 | | Add: Other un-allcoable | | -5.56 | -4.52 | -23.01 | | -16.85 | -4.26 | -295.54 | | -6.77 | -34.16 | 80.18 | | PBIT Margin(%) | | Consumables | | 15.21 | 12.86 | 234.92 | | 42.16 | 11.36 | 3,079.94 | | 11.31 | 12.11 | -80.16 | | Equipments and Automation | | 8.61 | 4.14 | 446.83 | | 6,885.71 | 8.76 | 6,87,695.16 | | 7.94 | 8.04 | -10.53 | | Flares & Process Equipment Division | | 13.11 | 4.49 | 862.01 | | 10.30 | -4.69 | 1,499.91 | | -3.17 | -100.93 | 9,776.44 | | PBT | 100.00 | 21.99 | 14.20 | 54.86 | 100.00 | 49.18 | 41.00 | 19.95 | 100.00 | 58.21 | -14.06 | LP |
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| Ador Welding : Standalone Results | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202212 | 202112 | Var.(%) | 202212 | 202112 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 198.53 | 174.28 | 13.91 | 541.28 | 461.67 | 17.24 | 661.48 | 447.28 | 47.89 | | OPM (%) | 12.10 | 9.42 | 269 bps | 10.25 | 8.82 | 143 bps | 8.83 | 4.45 | 438 bps | | OP | 24.03 | 16.41 | 46.44 | 55.46 | 40.71 | 36.23 | 58.39 | 19.89 | 193.56 | | Other Inc. | 1.82 | 1.21 | 50.41 | 5.40 | 3.99 | 35.34 | 5.41 | 7.31 | -25.99 | | PBIDT | 25.85 | 17.62 | 46.71 | 60.86 | 44.70 | 36.15 | 63.80 | 27.20 | 134.56 | | Interest | 0.76 | 0.9 | -15.56 | 1.67 | 2.98 | -43.96 | 3.72 | 6.41 | -41.97 | | PBDT | 25.09 | 16.72 | 50.06 | 59.19 | 41.72 | 41.87 | 60.08 | 20.79 | 188.99 | | Depreciation | 2.89 | 2.66 | 8.65 | 8.5 | 8.01 | 6.12 | 10.83 | 11.1 | -2.43 | | PBT | 22.20 | 14.06 | 57.89 | 50.69 | 33.71 | 50.37 | 49.25 | 9.69 | 408.26 | | PBT before EO | 22.2 | 14.06 | 57.89 | 50.69 | 33.71 | 50.37 | 49.25 | 9.69 | 408.26 | | EO Income | -0.21 | 0.16 | PL | -1.46 | 7.31 | PL | 8.98 | -25.37 | LP | | PBT after EO | 21.99 | 14.22 | 54.64 | 49.23 | 41.02 | 20.01 | 58.23 | -15.68 | LP | | Taxation | 5.63 | 3.62 | 55.52 | 12.43 | 9.03 | 37.65 | 13.04 | -3.69 | PL | | PAT | 16.36 | 10.6 | 54.34 | 36.8 | 31.99 | 15.04 | 45.19 | -11.99 | LP | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 16.36 | 10.6 | 54.34 | 36.8 | 31.99 | 15.04 | 45.19 | -11.99 | LP | | EPS (Rs)* | 12.15 | 7.71 | 57.63 | 27.86 | 19.33 | 44.12 | 28.10 | 7.13 | 294.43 | | | * 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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| Ador Welding : Standalone Segment Results | | | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202212 | 202112 | Var.(%) | % of (Total) | 202212 | 202112 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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| Sales | | Consumables | 79.54 | 158.08 | 139.53 | 13.29 | 78.91 | 427.53 | 369.69 | 15.65 | 80.81 | 535.71 | 352.33 | 52.05 | | Equipments and Automation | 14.20 | 28.23 | 24.64 | 14.57 | 14.66 | 79.42 | 72.01 | 10.29 | 14.90 | 98.78 | 70.85 | 39.42 | | Flares & Process Equipment Division | 6.25 | 12.43 | 10.46 | 18.83 | 6.43 | 34.84 | 21.30 | 63.57 | 4.29 | 28.43 | 24.73 | 14.96 | | Total Reported Sales | 100.00 | 198.74 | 174.63 | 13.81 | 100.00 | 541.79 | 463.00 | 17.02 | 100.00 | 662.92 | 447.91 | 48.00 | | Less: Inter segment revenues | | 0.21 | 0.35 | -40.00 | | 0.51 | 1.33 | -61.65 | | 1.44 | 0.63 | 128.57 | | Net Sales | 100.00 | 198.53 | 174.28 | 13.91 | 100.00 | 541.28 | 461.67 | 17.24 | 100.00 | 661.48 | 447.28 | 47.89 | | PBIT | | Consumables | 85.56 | 24.05 | 17.95 | 33.98 | 87.43 | 58.83 | 42.01 | 40.04 | 89.70 | 60.60 | 42.68 | 41.99 | | Equipments and Automation | 8.64 | 2.43 | 1.04 | 133.65 | 7.24 | 4.87 | 6.33 | -23.06 | 11.63 | 7.86 | 5.51 | 42.65 | | Flares & Process Equipment Division | 5.80 | 1.63 | 0.47 | 246.81 | 5.34 | 3.59 | -1.00 | LP | | Total PBIT | 100.00 | 28.11 | 19.46 | 44.45 | 100.00 | 67.29 | 47.34 | 42.14 | 100.00 | 67.56 | 23.23 | 190.83 | | Less : Interest | | 0.56 | 0.72 | -22.22 | | 1.21 | 2.06 | -41.26 | | 2.56 | 3.35 | -23.58 | | Add: Other un-allcoable | | -5.35 | -4.52 | -18.36 | | -15.39 | -4.26 | -261.27 | | -6.77 | -35.56 | 80.96 | | PBIT Margin(%) | | Consumables | | 15.21 | 12.86 | 234.92 | | 13.76 | 11.36 | 239.69 | | 11.31 | 12.11 | -80.16 | | Equipments and Automation | | 8.61 | 4.22 | 438.71 | | 6.13 | 8.79 | -265.85 | | 7.96 | 7.78 | 18.01 | | Flares & Process Equipment Division | | 13.11 | 4.49 | 862.01 | | 10.30 | -4.69 | 1,499.91 | | 0.00 | -100.93 | 10,093.00 | | PBT | 100.00 | 22.20 | 14.22 | 56.12 | 100.00 | 50.69 | 41.02 | 23.57 | 100.00 | 58.23 | -15.68 | LP |
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Previous News |
Ador Welding
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Results
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04-Feb-23
20:45
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