Ador Welding - Decent Q4 Performance Amid Economic Challenges: ICICI Direct

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ICICI Direct Report

Ador Welding Ltd. reported consolidated revenues at Rs 161.7 crore, up 15.6% YoY, 19.6% QoQ, led by better performance in consumables and equipment business.

Ebitda came in at Rs 15.6 crore, up 46% YoY, 116% QoQ owing to stable gross margins and controlled other expenses.

Ebitda margin improved 200 basis points to 9.6% YoY.

Gross margins for Q4 FY21 improved marginally by 20 basis points to 29.1% on a QoQ basis.

For Q4 FY21, the company reported exceptional item of Rs 24 crore, as provision for doubtful debt and bad debt written off, significantly impacting reported profit after tax.

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