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Last Updated: April 2, 2026, 2:33 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 517041 | NSE: ADOR

Ador Welding Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹704.62Overvalued by 21.10%vs CMP ₹893.00

P/E (21.9) × ROE (13.9%) × BV (₹283.00) × DY (2.24%)

₹714.54Overvalued by 19.98%vs CMP ₹893.00
MoS: -25% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,518.4223%Under (+70%)
Graham NumberEarnings₹490.8617%Over (-45%)
Earnings PowerEarnings₹294.7611%Over (-67%)
DCFCash Flow₹928.7611%Fair (+4%)
Net Asset ValueAssets₹282.547%Over (-68.4%)
EV/EBITDAEnterprise₹559.359%Over (-37.4%)
Earnings YieldEarnings₹378.407%Over (-57.6%)
ROCE CapitalReturns₹359.119%Over (-59.8%)
Revenue MultipleRevenue₹322.466%Over (-63.9%)
Consensus (9 models)₹714.54100%Overvalued
Key Drivers: EPS CAGR 115.5% lifts DCF — verify sustainability. | Wide model spread (₹283–₹1,518) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 115.5%

*Investments are subject to market risks

Investment Snapshot

68
Ador Welding Ltd scores 68/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health78/100 · Strong
ROCE 20.3% ExcellentROE 13.9% GoodD/E 0.30 ModerateInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money75/100 · Strong
FII holding up 0.11% (6mo) Slight increaseDII holding up 1.56% MF buyingPromoter holding at 53.7% Stable
Earnings Quality65/100 · Strong
OPM expanding (7% → 10%) Improving
Quarterly Momentum50/100 · Moderate
Revenue (4Q): 2% YoY FlatProfit (4Q): -1% YoY DecliningOPM: 12.0% (up 4.0% YoY) Margin expansion
Industry Rank75/100 · Strong
P/E 21.9 vs industry 34.1 Cheaper than peersROCE 20.3% vs industry 26.2% Average3Y sales CAGR: 36% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:33 am

Market Cap 1,555 Cr.
Current Price 893
Intrinsic Value₹714.54
High / Low 1,260/788
Stock P/E21.9
Book Value 283
Dividend Yield2.24 %
ROCE20.3 %
ROE13.9 %
Face Value 10.0
PEG Ratio0.19

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Ador Welding Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Ador Welding Ltd 1,555 Cr. 893 1,260/78821.9 2832.24 %20.3 %13.9 % 10.0
GEE Ltd 306 Cr. 58.8 97.9/53.6 38.10.00 %1.09 %4.65 % 2.00
D&H India Ltd 295 Cr. 289 300/11340.1 48.90.00 %13.5 %11.6 % 10.0
Esab India Ltd 7,868 Cr. 5,111 6,425/4,13040.2 2711.27 %70.0 %52.3 % 10.0
Industry Average2,506.00 Cr1,587.9534.07160.250.88%26.22%20.61%8.00

All Competitor Stocks of Ador Welding Ltd

Quarterly Result

MetricJun 2022Sep 2022Dec 2022Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 158185199277261297269269274310252281288
Expenses 142170174242235265242249251279256246253
Operating Profit 16152436273227202331-43535
OPM % 10%8%12%13%10%11%10%7%8%10%-2%12%12%
Other Income 1224575-544546
Interest 0011111111110
Depreciation 3334444455555
Profit before tax 1413223526342792129-53436
Tax % 25%25%26%26%29%24%26%28%28%38%-22%26%26%
Net Profit 1010162619252071518-42527
EPS in Rs 7.667.3412.0319.0813.7618.6614.604.938.8510.39-2.2714.3715.35

Last Updated: February 6, 2026, 8:47 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 2:16 pm

MetricMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2024Mar 2025TTM
Sales 3653713884084424585135264486611,0741,1231,131
Expenses 3313443603664114234684844256019551,0191,034
Operating Profit 3427284231354642226111910497
OPM % 9%7%7%10%7%8%9%8%5%9%11%9%9%
Other Income 4-8343910109-171419719
Interest 121226111086663
Depreciation 12121312111010111111161819
Profit before tax 244483227283631-14581178794
Tax % 31%216%33%29%34%34%31%14%-26%22%26%31%
Net Profit 17-5322218182526-1045866066
EPS in Rs 12.41-3.7623.4316.4713.1313.5418.0519.21-7.6333.2163.5834.5137.84
Dividend Payout % 48%-133%21%30%38%37%36%34%0%38%39%58%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222024-2025
YoY Net Profit Growth (%)-129.41%740.00%-31.25%-18.18%0.00%38.89%4.00%-138.46%550.00%-30.23%
Change in YoY Net Profit Growth (%)0.00%869.41%-771.25%13.07%18.18%38.89%-34.89%-142.46%688.46%-580.23%

Ador Welding Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2013-2014 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:11%
5 Years:16%
3 Years:19%
TTM:0%
Compounded Profit Growth
10 Years:17%
5 Years:21%
3 Years:21%
TTM:-52%
Stock Price CAGR
10 Years:15%
5 Years:30%
3 Years:2%
1 Year:-28%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:14%

Last Updated: September 4, 2025, 10:15 pm

Balance Sheet

Last Updated: December 4, 2025, 12:54 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2024Mar 2025Sep 2025
Equity Capital 14141414141414141414141717
Reserves 169155189203221231248234224268459490475
Borrowings 101900368165822924522
Other Liabilities 749382118107102103108108109163184229
Total Liabilities 266280285335378428429437375393681694724
Fixed Assets 957797100102103116125117117157197204
CWIP 02214110372543
Investments 2714612112441120393237
Other Assets 144188179222261322309308244248459461480
Total Assets 266280285335378428429437375393681694724

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2024Mar 2025
Cash from Operating Activity + 15211230-376414792658137
Cash from Investing Activity + -4-1-9-4-120-19-22-7-5-44-17
Cash from Financing Activity + -11-3-9-91932-33-13-61-31-19-94
Net Cash Flow -017-17107-411-2212-10-526
Free Cash Flow 08-58-16-4645-871281698
CFO/OP 64%111%23%81%33%-77%162%57%346%67%77%155%

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2024Mar 2025
Free Cash Flow24.008.0028.0042.00-5.00-46.00-19.00-40.00-7.0059.0074.00102.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2024Mar 2025
Debtor Days 7377781076373609086516163
Inventory Days 697759585660526270707764
Days Payable 6581571098584677287604563
Cash Conversion Cycle 777281563450457969619364
Working Capital Days 514061676381665642545658
ROCE %10%10%17%12%11%14%12%6%20%20%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 56.90%56.90%56.90%56.90%56.90%56.94%56.94%53.24%53.71%53.71%53.73%53.74%
FIIs 0.32%0.22%0.13%0.30%0.10%0.06%0.05%0.06%0.03%0.07%0.09%0.14%
DIIs 2.99%2.79%4.02%4.43%5.74%10.21%12.00%10.31%11.00%11.85%12.44%12.56%
Public 39.78%40.08%38.96%38.38%37.25%32.78%31.02%36.39%35.27%34.37%33.76%33.57%
No. of Shareholders 19,30623,20928,05930,27432,57529,28330,66541,46840,70238,88937,94936,356

Shareholding Pattern Chart

No. of Shareholders

Ador Welding Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Quant Manufacturing Fund 379,436 6.22 39.61N/AN/AN/A
Nippon India Value Fund 338,377 0.39 35.32N/AN/AN/A
LIC MF Infrastructure Fund 103,016 1.14 10.75104,1382026-01-26 03:18:49-1.08%
LIC MF Multi Cap Fund 95,876 0.57 10.0185,5382026-01-26 03:18:4912.09%
LIC MF Flexi Cap Fund 80,100 0.83 8.36N/AN/AN/A
LIC MF Manufacturing Fund 44,206 0.65 4.6146,7272026-02-23 03:16:39-5.4%
LIC MF Dividend Yield Fund 42,910 0.69 4.4843,3482026-02-23 03:16:39-1.01%
LIC MF Small Cap Fund 35,137 0.62 3.6725,6462025-12-08 01:47:0237.01%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 22Mar 21Mar 20
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 34.5163.5733.21-7.6321.15
Diluted EPS (Rs.) 34.5163.5733.21-7.6321.15
Cash EPS (Rs.) 44.9875.2041.220.5829.06
Book Value[Excl.RevalReserv]/Share (Rs.) 291.43347.80207.42174.66196.60
Book Value[Incl.RevalReserv]/Share (Rs.) 291.43347.80207.42174.66196.60
Revenue From Operations / Share (Rs.) 645.22789.43486.38329.18387.16
PBDIT / Share (Rs.) 69.39100.7446.9520.2139.03
PBIT / Share (Rs.) 58.9189.1138.9312.0031.13
PBT / Share (Rs.) 49.7686.1142.80-10.3424.79
Net Profit / Share (Rs.) 34.5163.5733.20-7.6321.15
NP After MI And SOA / Share (Rs.) 34.5163.5733.20-7.6321.15
PBDIT Margin (%) 10.7512.769.656.1410.08
PBIT Margin (%) 9.1311.288.003.648.03
PBT Margin (%) 7.7110.908.79-3.146.40
Net Profit Margin (%) 5.348.056.82-2.315.46
NP After MI And SOA Margin (%) 5.348.056.82-2.315.46
Return on Networth / Equity (%) 11.8418.2716.00-4.3610.75
Return on Capital Employeed (%) 19.6924.9518.336.7215.19
Return On Assets (%) 8.6512.6911.49-2.766.45
Total Debt / Equity (X) 0.000.090.000.110.30
Asset Turnover Ratio (%) 1.630.001.721.091.20
Current Ratio (X) 2.562.272.211.611.74
Quick Ratio (X) 1.831.521.351.131.36
Inventory Turnover Ratio (X) 8.260.005.535.236.33
Dividend Payout Ratio (NP) (%) 41.9372.050.000.0061.45
Dividend Payout Ratio (CP) (%) 32.1760.910.000.0044.73
Earning Retention Ratio (%) 58.0727.950.000.0038.55
Cash Earning Retention Ratio (%) 67.8339.090.000.0055.27
Interest Coverage Ratio (X) 26.5933.5817.164.296.16
Interest Coverage Ratio (Post Tax) (X) 16.7422.1910.733.124.34
Enterprise Value (Cr.) 1391.061859.61834.28418.25321.92
EV / Net Operating Revenue (X) 1.241.731.260.930.61
EV / EBITDA (X) 11.5213.5713.0715.216.06
MarketCap / Net Operating Revenue (X) 1.301.741.270.910.46
Retention Ratios (%) 58.0627.940.000.0038.54
Price / BV (X) 2.873.942.981.720.92
Price / Net Operating Revenue (X) 1.301.741.270.910.46
EarningsYield 0.040.040.05-0.020.11

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Ador Welding Ltd. is a Public Limited Listed company incorporated on 22/10/1951 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L70100MH1951PLC008647 and registration number is 008647. Currently company belongs to the Industry of Welding Equipments. Company's Total Operating Revenue is Rs. 1116.83 Cr. and Equity Capital is Rs. 17.40 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Welding EquipmentsAdor House, 6, K Dubash Marg, Mumbai Maharashtra 400001Contact not found
Management
NamePosition Held
Mrs. Ninotchka Malkani NagpalExecutive Chairman
Mr. Aditya Tarachand MalkaniManaging Director
Dr. Deep Ashda LalvaniNon Executive Director
Mr. Ravin Ajit MirchandaniNon Executive Director
Ms. Tanya Halina AdvaniNon Executive Director
Mr. Santosh Janakiram IyerInd. Non-Executive Director
Mr. Jitendra Hiru PanjabiInd. Non-Executive Director
Mr. Mihir JayaramanInd. Non-Executive Director
Mr. Navroze S MarshallInd. Non-Executive Director
Mrs. Nita Dempo MirchandaniInd. Non-Executive Director

FAQ

What is the intrinsic value of Ador Welding Ltd and is it undervalued?

As of 12 April 2026, Ador Welding Ltd's intrinsic value is ₹714.54, which is 19.98% lower than the current market price of ₹893.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (13.9 %), book value (₹283), dividend yield (2.24 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Ador Welding Ltd?

Ador Welding Ltd is trading at ₹893.00 as of 12 April 2026, with a FY2026-2027 high of ₹1,260 and low of ₹788. The stock is currently near its 52-week low. Market cap stands at ₹1,555 Cr..

How does Ador Welding Ltd's P/E ratio compare to its industry?

Ador Welding Ltd has a P/E ratio of 21.9, which is below the industry average of 34.07. This is broadly in line with or below the industry average.

Is Ador Welding Ltd financially healthy?

Key indicators for Ador Welding Ltd: ROCE of 20.3 % indicates efficient capital utilization. Dividend yield is 2.24 %.

Is Ador Welding Ltd profitable and how is the profit trend?

Ador Welding Ltd reported a net profit of ₹60 Cr in Mar 2025 on revenue of ₹1,123 Cr. Compared to ₹-10 Cr in Mar 2021, the net profit shows an improving trend.

Does Ador Welding Ltd pay dividends?

Ador Welding Ltd has a dividend yield of 2.24 % at the current price of ₹893.00. This is a relatively attractive yield for income-seeking investors.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Ador Welding Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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