Ador Welding Ltd.

BSE: ADOR517041ISIN INE045A01017

Industrials
Other Industrial Products
BSE Industrials

Share price

₹1,414.95-13.55 (-0.95%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹1,765.00
52W low: ₹850.00
Off 52W high: -19.83%
1M return: -6.87%
3M return: -5.91%
6M return: +30.78%
1Y return: +31.10%
20D avg volume: 2,661
50 DMA: ₹1,538.74
200 DMA: ₹1,245.77

Key ratios Consolidated

Market cap: ₹2,462 Cr
Current price: ₹1,414.95
52W high / low: ₹1,765.00 / ₹850.00
Face value: ₹10.00
P/E: 21.32
P/B: 4.32
EPS (TTM): ₹66.36
Book value / share: ₹327.37
ROE: —
ROCE: 20.30%
Operating margin: —
Net margin: —
Debt / equity: 0.00
Net debt: ₹-41.46 Cr
Interest cover: 53.27
Dividend yield: 2.16%
Dividend / share (TTM): ₹30.50
Payout: 45.96%
Cash conversion cycle: 60.9 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q4 FY24	Q3 FY23	Q2 FY23
Income statement
	344.74	309.46	318.97	288.12	281.09	251.84	310.02	273.96	269.24	—	198.53	184.87
	4.81	7.02	5.39	11.94	4.32	4.96	5.05	3.72	5.10	—	1.84	1.56
	349.55	316.48	324.36	300.06	285.41	256.80	315.07	277.68	274.34	—	200.37	186.43
	313.17	279.55	277.17	258.11	251.74	261.84	284.59	256.40	254.99	—	178.17	173.09
	199.37	200.41	181.13	149.55	137.77	151.03	173.30	139.42	163.39	—	138.27	112.82
	19.29	38.33	20.53	22.99	13.58	38.54	21.62	15.26	18.22	—	6.85	7.21
	32.73	30.98	28.96	30.36	29.00	29.25	25.51	28.43	29.14	—	14.19	14.06
	1.17	0.81	0.40	0.33	0.63	0.84	0.87	1.07	1.37	—	0.76	0.50
	4.98	4.99	4.98	4.96	4.77	4.76	4.75	4.63	4.50	—	2.91	2.87
	47.33	46.26	39.24	43.85	44.65	73.16	49.51	46.13	44.43	—	28.09	25.36
	36.38	36.93	47.19	41.95	33.67	-5.04	30.48	21.28	19.35	—	22.20	13.34
	0.00	0.00	3.15	-5.90	0.00	0.00	-1.38	0.00	-10.01	—	-0.21	0.00
	36.38	36.93	50.34	36.05	33.67	-5.04	29.10	21.28	9.34	—	21.99	13.34
	9.44	9.33	16.12	9.33	8.66	-1.09	11.01	5.87	2.64	—	5.63	3.36
	26.94	27.60	34.22	26.72	25.01	-3.95	18.09	15.41	6.70	—	16.36	9.98
	15.48	15.86	19.65	15.35	14.37	-2.27	10.40	8.86	4.92	—	12.03	7.34
Key metrics
	42.53	42.73	55.72	41.34	39.07	0.56	34.72	26.98	15.21	—	25.66	16.71
	12.30%	13.80%	17.50%	14.30%	13.90%	0.20%	11.20%	9.80%	5.60%	—	12.90%	9.00%
	7.80%	8.90%	10.70%	9.30%	8.90%	-1.60%	5.80%	5.60%	2.50%	—	8.20%	5.40%
	6.30%	—	8.80%	—	6.70%	—	5.80%	—	—	—	—	—
	22.60%	22.90%	2.90%	5.20%	4.40%	—	—	—	—	—	—	—
	7.70%	798.70%	89.20%	73.40%	273.30%	—	—	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY22
Income statement
	1,261	1,140	1,123	—	661.48
	29.16	18.16	18.80	—	5.48
	1,290	1,158	1,141	—	666.96
	1,128	1,040	1,044	—	617.73
	730.46	619.48	662.86	—	421.25
	101.14	95.64	71.73	—	58.50
	123.03	117.57	110.61	—	48.66
	2.71	2.20	4.54	—	3.72
	19.91	19.47	18.22	—	10.90
	176.68	192.46	184.86	—	84.60
	162.45	117.75	97.97	—	49.23
	-2.75	-2.75	-11.39	—	8.98
	159.70	115.00	86.58	—	58.21
	44.22	33.02	26.53	—	13.05
	115.48	81.98	60.05	—	45.16
	66.34	47.11	34.51	—	33.21
Key metrics
	182.32	136.67	109.34	—	72.83
	14.46%	12.00%	9.70%	—	11.00%
	9.16%	7.20%	5.30%	—	6.80%
	—	20.30%	17.50%	—	—
	12.93%	1.50%	—	—	—
	111.66%	36.50%	—	—	—
	—	93.70	95.84	—	—
	—	1.41	2.28	—	—
	—	0.00	0.00	—	—
	—	-41.46	-29.19	—	—
	—	60.9	63.3	—	—
Balance sheet
	—	831.83	693.93	—	—
	—	542.20	443.81	—	—
	—	42.31	30.28	—	—
	—	231.97	192.66	—	—
	—	151.87	126.74	—	—
	—	26.76	25.45	—	—
	—	193.28	185.98	—	—
	—	193.73	124.60	—	—
	—	253.39	173.52	—	—
	—	0.85	1.09	—	—
	—	0.27	0.25	—	—
	—	0.58	0.84	—	—
	—	554.45	507.09	—	—
Cash flow
	—	115.87	137.11	—	—
	—	-65.94	-17.37	—	—
	—	-37.90	-93.50	—	—
	—	22.17	41.27	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	344.20	308.63	317.96	286.95	280.00	250.54	307.99	272.93	267.76	229.76	246.70	221.54
	4.80	7.02	5.62	12.36	4.73	5.37	5.29	4.14	5.48	4.09	4.09	2.85
	349.00	315.65	323.58	299.31	284.73	255.91	313.28	277.07	273.24	233.85	250.79	224.39
	313.15	279.09	276.04	256.98	250.45	260.46	282.37	254.39	252.95	213.50	225.70	205.15
	199.08	200.24	180.92	149.27	137.31	150.59	172.78	138.96	162.76	179.57	138.96	154.64
	19.29	38.33	20.51	22.99	13.58	38.54	21.60	15.26	18.22	5.24	3.55	6.33
	32.72	30.68	28.48	29.89	28.60	28.77	24.90	27.80	28.43	20.21	19.04	18.71
	1.17	0.81	0.40	0.33	0.63	0.84	0.86	1.07	1.36	1.22	1.33	1.09
	4.95	4.97	4.95	4.91	4.74	4.70	4.63	4.56	4.44	3.77	3.39	3.35
	47.64	46.29	38.85	43.52	44.25	72.76	48.56	45.28	43.80	36.67	37.18	34.31
	35.85	36.56	47.54	42.33	34.28	-4.55	30.91	22.68	20.29	20.35	25.09	19.24
	0.00	0.00	-2.41	-5.90	0.00	0.00	-1.38	—	-41.72	—	—	—
	35.85	36.56	45.13	36.43	34.28	-4.55	29.53	22.68	-21.43	20.35	25.09	19.24
	9.17	9.21	11.59	9.33	8.66	-1.09	7.54	5.87	5.34	5.21	6.42	5.54
	26.68	27.35	33.54	27.10	25.62	-3.46	21.99	16.81	-16.09	15.14	18.67	13.70
	15.33	15.72	19.27	15.57	14.72	-1.99	12.64	9.67	-11.84	11.13	13.73	10.07
Key metrics
	41.97	42.34	50.48	41.67	39.65	0.99	35.02	28.31	-15.63	25.34	29.81	23.68
	12.20%	13.70%	15.90%	14.50%	14.20%	0.40%	11.40%	10.40%	-5.80%	11.00%	12.10%	10.70%
	7.80%	8.90%	10.50%	9.40%	9.20%	-1.40%	7.10%	6.20%	-6.00%	6.60%	7.60%	6.20%
	6.20%	—	7.80%	—	6.70%	—	5.80%	—	—	—	—	—
	22.90%	23.20%	3.20%	5.10%	4.60%	9.00%	24.80%	23.20%	—	—	—	—
	4.10%	890.50%	52.50%	61.20%	259.20%	-122.90%	17.80%	22.70%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	1,258	1,135	1,117	883.83	776.76	661.48
	29.80	19.64	20.23	13.07	6.67	5.41
	1,288	1,155	1,137	896.90	783.43	666.89
	1,125	1,035	1,035	811.35	703.52	617.64
	729.51	618.09	660.79	547.35	510.65	421.25
	101.12	95.62	71.71	29.96	26.43	58.50
	121.77	115.74	108.09	72.63	56.85	48.65
	2.71	2.20	4.52	4.02	2.36	3.72
	19.78	19.30	17.90	13.42	11.61	10.83
	176.30	190.94	181.72	129.04	109.58	84.59
	162.28	119.60	101.64	85.55	79.91	49.25
	-8.31	-8.31	-43.10	—	-0.80	8.98
	153.97	111.29	58.54	85.55	79.11	58.23
	39.30	28.49	15.08	22.36	19.82	13.04
	114.67	82.80	43.46	63.19	59.29	45.19
	65.89	47.58	24.98	46.46	43.60	33.23
Key metrics
	176.46	132.79	80.96	102.99	93.08	72.78
	14.03%	11.70%	7.20%	11.70%	12.00%	11.00%
	9.12%	7.30%	3.90%	7.10%	7.60%	6.80%
	—	19.40%	12.00%	—	—	—
	13.16%	1.70%	26.40%	13.80%	17.40%	—
	88.11%	90.50%	-31.20%	6.60%	31.20%	—
	—	94.57	97.91	—	—	—
	—	1.41	3.20	—	—	—
	—	0.00	0.00	—	—	—
	—	-41.41	-29.02	—	—	—
	—	61.1	63.8	—	—	—
Balance sheet
	—	838.08	698.21	—	—	—
	—	539.68	444.06	—	—	—
	—	42.26	30.11	—	—	—
	—	231.85	192.35	—	—	—
	—	151.62	126.32	—	—	—
	—	24.73	23.46	—	—	—
	—	192.76	185.34	—	—	—
	—	193.06	123.53	—	—	—
	—	251.62	171.22	—	—	—
	—	0.85	1.09	—	—	—
	—	0.27	0.25	—	—	—
	—	0.58	0.84	—	—	—
	—	563.87	515.70	—	—	—
Cash flow
	—	116.73	139.14	—	—	—
	—	-66.68	-19.35	—	—	—
	—	-37.90	-93.36	—	—	—
	—	22.16	41.23	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +13.49%
Sales CAGR 5Y: —
Profit CAGR 3Y: +11.78%
Profit CAGR 5Y: —
Sales YoY (TTM): +13.16%
Profit YoY (TTM): +88.11%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +12.93%
Profit YoY (TTM): +111.66%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 53.66%

Quarter	September 2026	June 2026
Promoter %	53.66%	53.77%

Holder	Type	Holding	Previous	Change
J B ADVANI AND COMPANY PVT LIMITED	Promoter Group	45.23%	45.23%	0.00%
CLARUS CAPITAL I	Public	6.83%	6.22%	+0.61%
GIRISH GULATI (HUF)	Public	2.46%	2.46%	0.00%
ARUNA BHAGWAN ADVANI	Promoter	2.26%	2.26%	0.00%
QUANT MUTUAL FUND - QUANT MANUFACTURING FUND	Public	2.18%	2.18%	0.00%
INVESTOR EDUCATION AND PROTECTION FUND AUTHORITY MINISTRY OF CORPORATE AFFAIRS	Public	1.96%	1.98%	-0.02%
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA VALUE FUND	Public	1.94%	1.94%	0.00%
ADITYA TARACHAND MALKANI	Promoter	1.79%	1.79%	0.00%
NINOTCHKA MALKANI NAGPAL	Promoter	1.65%	1.65%	0.00%
CATAMARAN VENTURES LLP	Public	1.05%	—	—
RAJBIR MALKANI	Promoter	0.75%	0.75%	0.00%
TANIA AJIT MIRCHANDANI	Promoter Group	0.56%	0.56%	0.00%
MICHELLE GULU MALKANI	Promoter	0.51%	0.51%	0.00%
SHIRIN ADITYA MALKANI	Promoter Group	0.23%	0.23%	0.00%
PRIYA DARSHINI LAMBERT	Promoter Group	0.20%	0.20%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
HBL ENGINEERING LIMITED	23,187	836.50	43.20	45.90%	—	—	-15.86%
INOX India Limited	17,557	1,930.95	67.38	30.80%	+22.53% TTM	+5.98% TTM	+59.26%
Esab India Ltd. S	8,206	5,330.95	36.98	60.80%	+12.99% TTM	+29.07% TTM	+9.05%
KRN HEAT EXCHANGER AND REFRIGERATION LIMITED	6,620	1,011.40	57.55	18.00%	+77.18% TTM	+94.83% TTM	+27.68%
Harsha Engineers International Limited	4,200	461.30	25.73	14.20%	+22.34% TTM	+65.44% TTM	+15.61%
Subros Ltd.	3,881	594.85	22.79	16.70%	+21.25% TTM	+5.94% TTM	-42.91%
Ador Welding Ltd.	2,462	1,414.95	21.32	20.30%	+12.93% TTM	+111.66% TTM	+31.10%
Diffusion Engineers Limited	1,568	419.05	27.32	15.70%	+38.32% TTM	+34.51% TTM	+12.53%
MIC Electronics Limited	1,085	36.43	-89.18	10.00%	+132.72% TTM	-227.43% TTM	-30.96%
Hy-Tech Engineers Limited	768	81.02	—	—	+17.36% FY26	+15.14% FY26	—
Technocrats Plasma Systems Limited S	715	406.20	—	—	+166.03% FY26	+84.22% FY26	—
MALLCOM (INDIA) LTD.	570	912.80	21.29	14.80%	+3.91% TTM	-54.47% TTM	-36.70%
Simplex Castings Ltd. S	527	128.45	22.54	26.20%	+15.32% TTM	+28.04% TTM	+32.38%
Sealmatic India Limited	523	481.70	—	12.10%	—	—	+23.38%
EXPO ENGINEERING AND PROJECTS LIMITED S	228	88.00	191.30	14.20%	-34.54% TTM	-70.94% TTM	+12.12%
QUEST FLOW CONTROLS LIMITED	184	179.70	—	0.40%	—	—	-26.97%
ALPHALOGIC INDUSTRIES LIMITED S	133	131.00	21.69	26.00%	—	—	+20.52%
W.H. Brady & Co. Ltd.	122	476.80	18.49	8.20%	-9.14% TTM	-71.81% TTM	-34.79%
Narmadesh Brass Industries Limited S	100	323.00	271.43	9.80%	—	—	—
MAURIA UDYOG LIMITED	82	6.18	3.71	39.10%	-13.01% TTM	+6.43% TTM	-52.72%
Siyaram Recycling Industries Limited S	75	34.44	22.36	11.20%	—	—	-63.07%
Indian Link Chain Mnfrs. Ltd. S	61	229.40	-201.23	-0.90%	-100.00% TTM	-321.43% TTM	-87.52%
DELTA MANUFACTURING LIMITED	60	55.33	-5.70	22.80%	+3.75% TTM	+7.22% TTM	-25.73%
Gabriel Pet Straps Limited	47	63.18	—	4.90%	—	—	-78.87%
Storage Technologies and Automation Limited	45	34.84	—	-6.10%	—	—	-51.11%

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

Transcript of Earnings Call27 Oct 2026 · Company Update / Earnings Call Transcript
The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Clarus Capital I & ClearEdge LLC24 Oct 2026 · Insider Trading / SAST / Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011
Enclosed herewith is the email communication sent to all the Shareholders23 Oct 2026 · Company Update / General
Audio Recording of the Analyst/Institutional Investors Meet23 Oct 2026 · Company Update / Analyst / Investor Meet
Newspaper Publication22 Oct 2026 · Company Update / Newspaper Publication
Presentation of investor Meet22 Oct 2026 · Company Update / Analyst / Investor Meet
Corporate Action - For fixation of Record Date for payment of Interim Dividend21 Oct 2026 · Corp. Action / Record Date
Declaration of Interim Dividend21 Oct 2026 · Corp Action / Dividend Updates
Outcome - Declaration of Interim Dividend21 Oct 2026 · Corp. Action / Dividend
Financial Results for the quarter and half year ended 30th September, 202621 Oct 2026 · Result / Financial Results
Outcome of the Board Meeting21 Oct 2026 · Board Meeting / Outcome of Board Meeting
Intimation of analyst meet19 Oct 2026 · Company Update / Analyst / Investor Meet
Newspaper Publication16 Oct 2026 · Company Update / Newspaper Publication
Order passed by Hon''ble Bhiwandi Court15 Oct 2026 · Company Update / General
Ador Welding Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 21/10/2026 ,inter alia, to consider and approve Unaudited Financial Results (Standalone ....12 Oct 2026 · Board Meeting / Board Meeting
Certificate under Regulation 74(5) of SEBI (DP) Regulations, 20188 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Intimation of closure of Trading Window of the Company28 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
The Compensation Committee of the Company approved vesting of 6,625 stock options to eligible employees of the Company under Ador Employee Stock Option Plan 2025.21 Sep 2026 · Company Update / General
Schedule of Analyst/Investor Meet27 Aug 2026 · Company Update / Analyst / Investor Meet
Intimation to the Holders of physical shares to furnish KYC Details27 Aug 2026 · Company Update / General
Intimation for change in Senior Management- Appointment of Head - HR13 Aug 2026 · Company Update / Change in Management
Newspaper Publication7 Aug 2026 · Company Update / Newspaper Publication
Change in management - Resignation of CFO30 Jul 2026 · Company Update / Change in Management
Outcome of the Board Meeting30 Jul 2026 · Others / Outcome without intimation
Scrutinizer''s Report and Voting Results24 Jul 2026 · AGM/EGM / AGM
Proceedings of the Annual General Meeting23 Jul 2026 · Company Update / General
Outcome - Proceedings of the 73rd Annual General Meeting23 Jul 2026 · AGM/EGM / AGM
Newspaper Publication23 Jul 2026 · Company Update / Newspaper Publication
Newspaper Publication22 Jul 2026 · Company Update / Newspaper Publication
Investor Presentation for the quarter ended 30th June, 202621 Jul 2026 · Company Update / General
Financial Results for the first quarter ended 30th June, 202621 Jul 2026 · Result / Financial Results
Outcome of the Board Meeting21 Jul 2026 · Board Meeting / Outcome of Board Meeting
Ador Welding Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 21/07/2026 ,inter alia, to consider and approve Unaudited Financial results (Standalone ....15 Jul 2026 · Board Meeting / Board Meeting
Intimation of change in Senior Management9 Jul 2026 · Company Update / Change in Management
Certificate under Regulation 74(5) of SEBI (DP) Regulations, 20187 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
The Record Date for determining the eligibility of the Members entitled to receive Final Dividend is fixed Thursday, 16th July, 2026.6 Jul 2026 · Corp. Action / Record Date
Enclosed herewith is the letter sent to the Shareholders, whose email id is not registered with the Company/Depositories, intimating about web-link of Annual Report of FY 2025-26.2 Jul 2026 · Company Update / General
Newspaper Publication of Notice of 73rd Annual General Meeting scheduled to be held on 23rd July, 20261 Jul 2026 · Company Update / Newspaper Publication
BRSR for FY 2025-2630 Jun 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
73rd Annual Report for FY 2025-2630 Jun 2026 · Others / Reg. 34 (1) Annual Report

Corporate actions

Purpose	Ex date	Record date	Payment date
Interim Dividend - Rs. - 7.5000	30 Oct 2026	30 Oct 2026	—
Final Dividend - Rs. - 23.0000	16 Jul 2026	16 Jul 2026	—
Final Dividend - Rs. - 20.0000	8 Jul 2025	8 Jul 2025	—

Board meetings

21 Oct 2026 Board Meeting - Financial Results
21 Jul 2026 Board Meeting - Financial Results