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Ador Welding Limited
(ADOR)
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Rating:76Outperform
Price Target:
₹1,798.00
▲(71.88% Upside)
Action:Reiterated
Date:07/18/26
The score is driven primarily by strong financial performance—especially the conservatively financed balance sheet and improved recent cash generation. Technicals are supportive with a strong uptrend, though near-overbought RSI adds some caution. Valuation is the main drag due to a relatively high P/E, only partly offset by the dividend yield.
Positive Factors
Strong Revenue Growth
Strong multi-year revenue expansion indicates growing demand for Ador Welding’s products and solutions across industrial markets. Continued top-line growth can support operating scale, broaden customer reach, and provide a durable base for reinvestment over the next several quarters.
Negative Factors
Historical Free Cash Flow Volatility
Negative free cash flow in earlier years demonstrates that cash conversion has not been consistently dependable across the cycle. Although recent performance improved, renewed working-capital or investment pressure could reduce internally available funds and make future cash planning less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Strong multi-year revenue expansion indicates growing demand for Ador Welding’s products and solutions across industrial markets. Continued top-line growth can support operating scale, broaden customer reach, and provide a durable base for reinvestment over the next several quarters.
Read all positive factors
Ador Welding Limited (ADOR) vs. iShares MSCI India ETF (INDA)
Market Cap
₹27.33B
Dividend Yield1.47%
Average Volume (3M)3.09K
Price to Earnings (P/E)24.0
Beta (1Y)1.01
Revenue Growth8.38%
EPS Growth197.72%
CountryIN
Employees853
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)53.02
Shares Outstanding17,402,815
10 Day Avg. Volume1,875
30 Day Avg. Volume3,088
Financial Highlights & Ratios
PEG Ratio0.52
Price to Book (P/B)2.80
Price to Sales (P/S)1.36
P/FCF Ratio16.59
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)62.6
Revenue Forecast (FY)₹11.92B
Ador Welding Limited Business Overview & Revenue Model
Company Description
Ador Welding Limited, an Indian enterprise established in 1951, specializes in the production and global distribution of diverse welding equipment, consumables, and advanced automation solutions. Operating through three key divisions—Products, Ser...
How the Company Makes Money
Ador Welding Limited makes money primarily by selling welding-related products and solutions to industrial and commercial customers. Key revenue streams typically include: (1) Welding consumables: recurring sales of electrodes, wires, fluxes and o...
Ador Welding Limited Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.14B | 11.40B | 11.18B | 10.74B | 7.77B | 6.61B |
| Gross Profit | 1.49B | 4.31B | 3.19B | 1.54B | 1.41B | 949.50M |
| EBITDA | 1.10B | 1.37B | 1.09B | 1.04B | 942.50M | 747.30M |
| Net Income | 1.01B | 819.80M | 600.50M | 864.60M | 592.90M | 450.20M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 8.32B | 6.94B | 5.21B | 4.52B | 3.93B |
| Cash, Cash Equivalents and Short-Term Investments | 218.80M | 1.23B | 883.20M | 830.00M | 235.50M | 265.80M |
| Total Debt | 0.00 | 29.50M | 24.10M | 440.10M | 172.80M | 22.10M |
| Total Liabilities | 0.00 | 2.77B | 1.87B | 1.58B | 1.28B | 1.11B |
| Stockholders Equity | 3.62B | 5.54B | 5.07B | 3.62B | 3.24B | 2.82B |
Cash Flow | ||||||
| Free Cash Flow | 133.80M | 936.90M | 958.40M | -71.40M | -10.80M | 90.60M |
| Operating Cash Flow | 133.80M | 1.16B | 1.37B | 345.00M | 136.70M | 263.90M |
| Investing Cash Flow | 0.00 | -659.40M | -173.70M | -368.90M | -96.60M | -54.50M |
| Financing Cash Flow | 0.00 | -379.00M | -935.00M | -17.30M | -46.70M | -313.70M |
Ador Welding Limited Technical Analysis
Neutral
1046.05
Price Trends
1570.52
Negative
1379.00
Positive
1189.33
Positive
Market Momentum
5.71
Positive
46.48
Neutral
36.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ADOR, the sentiment is Neutral. The current price of 1046.05 is below the 20-day moving average (MA) of 1607.93, below the 50-day MA of 1570.52, and below the 200-day MA of 1189.33, indicating a neutral trend. The MACD of 5.71 indicates Positive momentum. The RSI at 46.48 is Neutral, neither overbought nor oversold. The STOCH value of 36.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:ADOR.
Ador Welding Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹27.33B | 24.04 | ― | 1.47% | 8.38% | 197.72% | |
68 Neutral | ₹1.47T | 60.23 | ― | 0.45% | 27.00% | 739.32% | |
57 Neutral | ₹67.50B | 34.53 | ― | 0.65% | 19.79% | -16.99% | |
56 Neutral | ₹51.47B | 23.83 | ― | 0.59% | -14.32% | -2.83% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹31.29B | 37.01 | ― | 0.77% | 1.40% | -29.77% | |
46 Neutral | ₹10.64B | 16.85 | ― | 4.66% | 49.44% | 41.82% |
* General Sector Average
IN:ADOR
Ador Welding Limited
1,570.40
564.59
56.13%
IN:ANUP
Anup Engineering Ltd.
1,562.05
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IN:BHEL
Bharat Heavy Electricals Limited
422.00
178.39
73.22%
IN:ISGEC
ISGEC Heavy Engineering Ltd.
918.00
21.56
2.40%
IN:JYOTISTRUC
Jyoti Structures Ltd.
8.91
-6.41
-41.84%
IN:TEXRAIL
Texmaco Rail & Engineering Limited
126.50
-13.25
-9.48%
Ador Welding Limited Corporate Events
Ador Welding Clears Vesting of ESOPs and Tightens Grant Limits
Sep 21, 2026
Ador Welding Limited has announced that its Nomination Remuneration Committee has approved the vesting of 6,625 employee stock options under the Ador Employee Stock Option Plan 2025. These options, part of a total grant of 29,500 shares with a fa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.