About Ador Welding Limited
Data last updated:
Ador Welding Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of J B Advani And Company Private Limited. It operates in the industrial tools and components segment of the machinery and industrial equipment sector. It was incorporated on 22 October 1951 and has been in existence for over 75 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L70100MH1951PLC008647. Its GSTIN is 27AAACA9076B1ZU (Maharashtra). The company holds 34 GST registrations, of which 13 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 517041 and NSE: ADOR.
The company has an authorised share capital of ₹43 Cr and a paid-up capital of ₹17.4 Cr. It was formerly known as J.B. Advani-Oerlikon Electrodes Limited and J. Advani Oerlikon Electrodes Limited. It is led by directors including Aditya Tarachand Malkani (Managing Director) and Ninotchka Malkani Nagpal (Whole-Time Director).
Its last annual general meeting (AGM) was held on 23 July 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Ador House 6 K. Dubash Marg Fort, Mumbai, Maharashtra, India – 400001.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹1,140.01 Cr, a growth of 1.5% compared to the previous year. For the same year it recorded a net profit of ₹83.93 Cr (net margin 7.4%) and EBITDA of ₹119.93 Cr (EBITDA margin 10.5%). The net worth stands at ₹554.45 Cr (up 9.3% YoY). Total assets are valued at ₹579.35 Cr (up 11.2% YoY).
The company has about 646 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Ador Welding. As per MCA filings, the company has open charges of ₹183.59 Cr and satisfied charges of ₹277.59 Cr on record. Court records list 278 cases involving the company, including 165 filed by the company and 113 filed against it; 41 cases are pending. The company has 32 deals on record (22 market trades, 10 secondary share transfers); the latest was in June 2024. Its 5 peer companies in the Machinery and Equipment industry (Tools and Components, Welding), with the same principal business activity (metal and metal products) are compared by revenue, 1 larger and 4 smaller; the largest is Harsha Engineers International Limited with revenue of ₹1,445.38 Cr. The company has 6 MSME Form 1 returns on record between 2019 and 2024, listing 145 overdue payments to 44 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website adorwelding.com.
Company details
Name history
Ador Welding has undergone 5 name changes throughout its history. The current legal name is Ador Welding Limited.
| Company Name | Status |
|---|---|
| Ador Welding Limited | Current |
| J.B. Advani-Oerlikon Electrodes Limited | Previous |
| J. Advani Oerlikon Electrodes Limited | Previous |
| J. Advani Oerlikon Electrodes Private Limited | Previous |
| Advani-Oerlikon Limited | Previous |
| J.B. Advani-Oerlikon Electrodes Private Limited | Previous |
CIN history
Ador Welding has one previous CIN (Corporate Identification Number): U70100MH1951PLC008647. The current CIN is L70100MH1951PLC008647, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L70100MH1951PLC008647 | Current |
| U70100MH1951PLC008647 | Previous |
Contact details
Ador Welding Limited's registered office is in Mumbai, Maharashtra. Its website is adorwelding.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressAdor House 6 K. Dubash Marg Fort, Mumbai, Maharashtra, India – 400001
- IndustryMachinery and Equipment, Industrial Tools & Components
To see the full contact details of Ador Welding Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Ador Welding operates one associated brand: Ador Welding. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Welding equipment, consumables, and automation solutions are manufactured. | adorwelding.com |
Business activity
The main business activity of Ador Welding is manufacturing. In detail, this covers metal and metal products and electrical equipment, general purpose and special purpose machinery & equipment, transport equipment. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products | |
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment |
To see the full business activity and turnover split of Ador Welding Limited, buy the company report.
Financials of Ador Welding Limited
FY 2025-26 filings availableAdor Welding Limited reported revenue of ₹1,140.01 Cr (up 1.5% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 1,140 | 1,123 | 1,074 | 661 | 448 | 527 | 513 |
| Revenue growth | +1.5% | +4.6% | - | +47.8% | -15.0% | +2.6% | - |
| EBITDA | 120 | 91.73 | 119 | 60.45 | (2.12) | 44.40 | 45.42 |
| EBITDA margin | +10.5% | +8.2% | +11.1% | +9.1% | -0.5% | +8.4% | +8.9% |
| Profit before tax | 115 | 86.58 | 117 | 58.21 | (14.06) | 33.72 | 35.52 |
| Net profit | 83.93 | 67.95 | 86.12 | 38.53 | 15.51 | 28.84 | 24.60 |
| Net profit margin | +7.4% | +6.1% | +8.0% | +5.8% | +3.5% | +5.5% | +4.8% |
| EPS (₹) | 47.11 | 34.51 | 63.57 | 33.21 | (7.63) | 21.15 | 18.04 |
| Balance sheet | |||||||
| Total assets | 579 | 521 | 528 | 289 | 271 | 356 | 329 |
| Net worth | 554 | 507 | 473 | 282 | 238 | 267 | 261 |
| Total debt | 2.95 | 2.41 | 44.69 | 2.21 | 29.19 | 81.91 | 64.99 |
| Cash & bank | 92.51 | 67.11 | 47.20 | 7.63 | 18.16 | 6.56 | 28.14 |
| Net working capital | 259 | 247 | 255 | 106 | 97.82 | 201 | 186 |
| Cash flow | |||||||
| Cash from operations | 116 | 137 | 58.29 | 26.39 | 79.02 | 13.66 | 63.59 |
| Cash from investing | (65.93) | (17.37) | (43.60) | (5.45) | (6.57) | (22.06) | (19.48) |
| Cash from financing | (37.90) | (93.50) | (19.30) | (31.37) | (60.59) | (13.23) | (33.46) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 345 | 309 | 319 | 288 | 281 | 252 | 310 | 274 |
| Revenue growth (YoY) | +22.6% | +22.9% | +2.9% | +5.2% | +4.4% | -6.5% | - | - |
| Other income | 4.81 | 7.02 | 8.54 | 3.50 | 4.32 | 4.96 | 5.05 | 3.72 |
| EBITDA | 37.72 | 35.71 | 47.16 | 37.84 | 34.75 | (4.40) | 29.67 | 23.26 |
| EBITDA margin | +10.9% | +11.5% | +14.8% | +13.1% | +12.4% | -1.7% | +9.6% | +8.5% |
| Depreciation | 4.98 | 4.99 | 4.98 | 4.96 | 4.77 | 4.76 | 4.75 | 4.63 |
| Interest | 1.17 | 0.81 | 0.40 | 0.33 | 0.63 | 0.84 | 0.87 | 1.07 |
| Profit before tax | 36.38 | 36.93 | 50.32 | 36.05 | 33.67 | (5.04) | 29.10 | 21.28 |
| Tax | 9.44 | 9.33 | 16.12 | 9.33 | 8.66 | (1.09) | 11.01 | 5.87 |
| Net profit | 26.94 | 27.60 | 34.20 | 26.72 | 25.01 | (3.95) | 18.09 | 15.41 |
| EPS (₹) | 15.43 | 15.82 | 19.62 | 15.33 | 14.37 | (2.27) | 10.40 | 8.86 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 1,135 | 1,117 | 1,067 | 777 | 661 | 447 | 526 |
| Revenue growth | +1.7% | +4.6% | +37.4% | +17.4% | +47.9% | -14.9% | - |
| EBITDA | 115 | 61.92 | 121 | 87.19 | 60.45 | (3.73) | 41.71 |
| EBITDA margin | +10.1% | +5.5% | +11.3% | +11.2% | +9.1% | -0.8% | +7.9% |
| Profit before tax | 111 | 58.54 | 121 | 79.11 | 58.21 | (15.68) | 30.07 |
| Net profit | 88.64 | 67.01 | 89.01 | 59.79 | 38.39 | 15.27 | 25.69 |
| Net profit margin | +7.8% | +6.0% | +8.3% | +7.7% | +5.8% | +3.4% | +4.9% |
| EPS (₹) | 47.59 | 24.98 | 65.70 | 43.60 | 33.10 | (8.82) | 18.84 |
| Balance sheet | |||||||
| Total assets | 587 | 528 | 551 | 347 | 289 | 271 | 336 |
| Net worth | 564 | 516 | 498 | 324 | 282 | 237 | 249 |
| Total debt | 2.95 | 2.40 | 44.57 | 17.28 | 2.21 | 29.19 | 81.91 |
| Cash & bank | 92.39 | 66.88 | 46.68 | 6.89 | 7.63 | 18.00 | 6.40 |
| Net working capital | 258 | 250 | 268 | 162 | 106 | 97.57 | 169 |
| Cash flow | |||||||
| Cash from operations | 117 | 139 | 57.54 | 13.67 | 26.39 | 78.98 | 12.99 |
| Cash from investing | (66.68) | (19.35) | (42.14) | (9.66) | (5.45) | (6.54) | (21.41) |
| Cash from financing | (37.90) | (93.36) | (19.22) | (4.67) | (31.37) | (60.58) | (13.23) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 344 | 309 | 318 | 287 | 280 | 251 | 308 | 273 |
| Revenue growth (YoY) | +22.9% | +23.2% | +3.2% | +5.1% | +4.6% | -6.6% | - | - |
| Other income | 4.80 | 7.02 | 5.62 | 3.92 | 4.73 | 5.37 | 5.29 | 4.14 |
| Total expenses | 307 | 273 | 273 | 249 | 245 | 255 | 278 | 249 |
| EBITDA | 37.17 | 35.32 | 44.86 | 37.75 | 34.92 | (4.38) | 29.73 | 24.17 |
| EBITDA margin | +10.8% | +11.4% | +14.1% | +13.2% | +12.5% | -1.7% | +9.7% | +8.9% |
| Depreciation | 4.95 | 4.97 | 4.95 | 4.91 | 4.74 | 4.70 | 4.63 | 4.56 |
| Interest | 1.17 | 0.81 | 0.40 | 0.33 | 0.63 | 0.84 | 0.86 | 1.07 |
| Profit before tax | 35.85 | 36.56 | 45.13 | 36.43 | 34.28 | (4.55) | 29.53 | 22.68 |
| Tax | 9.17 | 9.21 | 11.60 | 9.33 | 8.66 | (1.09) | 7.54 | 5.87 |
Financial Statements
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 345 | 309 | 319 | 288 | 281 | 252 | 310 | 274 |
| Revenue growth (YoY) | +22.6% | +22.9% | +2.9% | +5.2% | +4.4% | -6.5% | - | - |
| Other income | 4.81 | 7.02 | 8.54 | 3.50 | 4.32 | 4.96 | 5.05 | 3.72 |
| EBITDA | 37.72 | 35.71 | 47.16 | 37.84 | 34.75 | (4.40) | 29.67 | 23.26 |
| EBITDA margin | +10.9% | +11.5% | +14.8% | +13.1% | +12.4% | -1.7% | +9.6% | +8.5% |
| Depreciation | 4.98 | 4.99 | 4.98 | 4.96 | 4.77 | 4.76 | 4.75 | 4.63 |
| Interest | 1.17 | 0.81 | 0.40 | 0.33 | 0.63 | 0.84 | 0.87 | 1.07 |
| Profit before tax | 36.38 | 36.93 | 50.32 | 36.05 | 33.67 | (5.04) | 29.10 | 21.28 |
| Tax | 9.44 | 9.33 | 16.12 | 9.33 | 8.66 | (1.09) | 11.01 | 5.87 |
| Net profit | 26.94 | 27.60 | 34.20 | 26.72 | 25.01 | (3.95) | 18.09 | 15.41 |
| EPS (₹) | 15.43 | 15.82 | 19.62 | 15.33 | 14.37 | (2.27) | 10.40 | 8.86 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|---|---|
| Revenue | 1,140 | 1,123 | 1,074 | 661 | 448 | 527 | 513 |
| Revenue growth | +1.5% | +4.6% | - | +47.8% | -15.0% | +2.6% | - |
| Other income | 18.16 | 19.26 | 19.40 | 14.46 | 7.39 | 10.11 | 10.35 |
| Total expenses | 1,020 | 1,031 | 955 | 601 | 450 | 482 | 468 |
| Employee cost | 118 | 111 | 100 | 48.66 | 37.70 | 42.64 | 41.20 |
| EBITDA | 120 | 91.73 | 119 | 60.45 | (2.12) | 44.40 | 45.42 |
| EBITDA margin | +10.5% | +8.2% | +11.1% | +9.1% | -0.5% | +8.4% | +8.9% |
| Depreciation | 19.47 | 18.22 | 15.82 | 10.90 | 11.17 | 10.75 | 9.68 |
| Interest | 3.62 | 6.19 | 5.54 | 5.80 | 8.16 | 10.04 | 10.57 |
| Profit before tax | 115 | 86.58 | 117 | 58.21 | (14.06) | 33.72 | 35.52 |
| Tax | 33.02 | 26.53 | 30.65 | 13.05 | (3.68) | 4.95 | 10.98 |
| Net profit | 83.93 | 67.95 | 86.12 | 38.53 | 15.51 | 28.84 | 24.60 |
| Net profit margin | +7.4% | +6.1% | +8.0% | +5.8% | +3.5% | +5.5% | +4.8% |
| EPS (₹) | 47.11 | 34.51 | 63.57 | 33.21 | (7.63) | 21.15 | 18.04 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 17.40 | 17.40 | 13.60 | 13.60 | 13.60 | 13.60 | 13.60 |
| Reserves & surplus | 537 | 490 | 459 | 268 | 224 | 254 | 248 |
| Shareholders' funds (net worth) | 554 | 507 | 473 | 282 | 238 | 267 | 261 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 0.85 | 1.09 | 43.07 | 0.60 | 28.00 | 43.00 | 61.50 |
| Unsecured loans | 2.10 | 1.32 | 1.62 | 1.61 | 1.19 | 38.91 | 3.49 |
| Total debt | 2.95 | 2.41 | 44.69 | 2.21 | 29.19 | 81.91 | 64.99 |
| Total liabilities | 579 | 521 | 528 | 289 | 271 | 356 | 329 |
| Assets | |||||||
| Gross block | 446 | 424 | 377 | 292 | 286 | 299 | 280 |
| Net block | 204 | 197 | 157 | 117 | 117 | 125 | 116 |
| Capital work in progress | 3.16 | 4.11 | 25.37 | 7.10 | 3.27 | 0.33 | 1.07 |
| Investments | 47.31 | 31.93 | 39.15 | 19.89 | 10.68 | 3.75 | 3.71 |
| Inventories | 152 | 127 | 145 | 89.97 | 62.46 | 62.21 | 51.59 |
| Sundry debtors | 232 | 193 | 180 | 93.15 | 105 | 130 | 84.60 |
| Cash & bank balances | 92.51 | 67.11 | 47.20 | 7.63 | 18.16 | 6.56 | 28.14 |
| Loans & advances | 34.92 | 33.45 | 34.68 | 19.34 | 16.31 | 87.38 | 112 |
| Total current assets | 511 | 420 | 407 | 210 | 202 | 286 | 277 |
| Total current liabilities | 252 | 173 | 152 | 104 | 105 | 85.03 | 90.76 |
| Net working capital | 259 | 247 | 255 | 106 | 97.82 | 201 | 186 |
| Total assets | 579 | 521 | 528 | 289 | 271 | 356 | 329 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|---|---|
| Opening cash | 30.28 | 4.04 | 8.65 | 17.04 | 5.18 | 26.81 | 16.16 |
| Net cash from operating activities | 116 | 137 | 58.29 | 26.39 | 79.02 | 13.66 | 63.59 |
| Net cash from investing activities | (65.93) | (17.37) | (43.60) | (5.45) | (6.57) | (22.06) | (19.48) |
| Net cash from financing activities | (37.90) | (93.50) | (19.30) | (31.37) | (60.59) | (13.23) | (33.46) |
| Net change in cash | 12.03 | 26.24 | (4.61) | (10.43) | 11.86 | (21.63) | 10.65 |
| Closing cash | 92.51 | 67.11 | 47.20 | 7.63 | 18.16 | 6.56 | 28.14 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +1.5% | +4.6% | - | +47.8% | -15.0% | +2.6% | - |
| EBITDA growth | +30.7% | -23.0% | - | +2951.4% | -104.8% | -2.3% | - |
| PBT growth | +32.8% | -26.1% | +101.2% | +9998.0% | - | -5.1% | +26.4% |
| Net income growth | +23.5% | -21.1% | - | +148.4% | -46.2% | +17.2% | - |
| Revenue CAGR (3Y) | +19.9% | +35.9% | +26.8% | +8.8% | -0.8% | +6.0% | +7.9% |
| EBITDA CAGR (3Y) | +25.7% | - | +38.9% | +10.0% | - | +12.6% | +4.6% |
| Profitability & leverage | |||||||
| Net income margin | +7.2% | +5.4% | +8.1% | +6.8% | -2.3% | +5.5% | +4.8% |
| Return on capital employed | +21.6% | +19.9% | +23.2% | +19.7% | +6.2% | +12.8% | +14.0% |
| Return on net worth | +15.5% | +13.9% | +18.3% | +14.8% | +6.4% | +10.9% | +9.7% |
| Debt / equity | 0.01 | 0.05 | 0.09 | 0.06 | 0.23 | 0.28 | 0.29 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 |
| Interest cover | 3.60 | 8.42 | 5.37 | 11.71 | -61.40 | 29.84 | 29.57 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.62 | 2.80 | 2.85 | 2.29 | 1.53 | 1.82 | 1.90 |
| Inventory turnover | 8.18 | 8.26 | 7.39 | 8.68 | 7.18 | 9.25 | 9.74 |
| Debtors turnover | 5.37 | 6.02 | 5.96 | 6.66 | 3.81 | 4.91 | 5.81 |
| EPS (₹) | 47.11 | 34.51 | 63.57 | 33.21 | (7.63) | 21.15 | 18.04 |
| Dividend per share (₹) | 23.00 | 20.00 | 24.50 | 12.50 | 0.00 | 6.50 | 6.50 |
| Book value per share (₹) | 318.65 | 291.43 | 347.80 | 207.42 | 174.66 | 196.60 | 192.21 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 344 | 309 | 318 | 287 | 280 | 251 | 308 | 273 |
| Revenue growth (YoY) | +22.9% | +23.2% | +3.2% | +5.1% | +4.6% | -6.6% | - | - |
| Other income | 4.80 | 7.02 | 5.62 | 3.92 | 4.73 | 5.37 | 5.29 | 4.14 |
| Total expenses | 307 | 273 | 273 | 249 | 245 | 255 | 278 | 249 |
| EBITDA | 37.17 | 35.32 | 44.86 | 37.75 | 34.92 | (4.38) | 29.73 | 24.17 |
| EBITDA margin | +10.8% | +11.4% | +14.1% | +13.2% | +12.5% | -1.7% | +9.7% | +8.9% |
| Depreciation | 4.95 | 4.97 | 4.95 | 4.91 | 4.74 | 4.70 | 4.63 | 4.56 |
| Interest | 1.17 | 0.81 | 0.40 | 0.33 | 0.63 | 0.84 | 0.86 | 1.07 |
| Profit before tax | 35.85 | 36.56 | 45.13 | 36.43 | 34.28 | (4.55) | 29.53 | 22.68 |
| Tax | 9.17 | 9.21 | 11.60 | 9.33 | 8.66 | (1.09) | 7.54 | 5.87 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 1,135 | 1,117 | 1,067 | 777 | 661 | 447 | 526 |
| Revenue growth | +1.7% | +4.6% | +37.4% | +17.4% | +47.9% | -14.9% | - |
| Other income | 19.64 | 20.69 | 20.68 | 7.33 | 14.46 | 7.31 | 9.08 |
| Total expenses | 1,021 | 1,055 | 946 | 690 | 601 | 451 | 484 |
| Employee cost | 116 | 108 | 97.54 | 56.85 | 48.66 | 37.56 | 42.41 |
| EBITDA | 115 | 61.92 | 121 | 87.19 | 60.45 | (3.73) | 41.71 |
| EBITDA margin | +10.1% | +5.5% | +11.3% | +11.2% | +9.1% | -0.8% | +7.9% |
| Depreciation | 19.30 | 17.90 | 15.43 | 11.61 | 10.90 | 11.10 | 10.68 |
| Interest | 3.62 | 6.17 | 5.53 | 3.80 | 5.80 | 8.16 | 10.04 |
| Profit before tax | 111 | 58.54 | 121 | 79.11 | 58.21 | (15.68) | 30.07 |
| Tax | 28.49 | 15.08 | 31.34 | 19.82 | 13.19 | (3.69) | 4.45 |
| Net profit | 88.64 | 67.01 | 89.01 | 59.79 | 38.39 | 15.27 | 25.69 |
| Net profit margin | +7.8% | +6.0% | +8.3% | +7.7% | +5.8% | +3.4% | +4.9% |
| EPS (₹) | 47.59 | 24.98 | 65.70 | 43.60 | 33.10 | (8.82) | 18.84 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 17.40 | 17.40 | 13.60 | 13.60 | 13.60 | 13.60 | 13.60 |
| Reserves & surplus | 546 | 498 | 485 | 310 | 268 | 224 | 235 |
| Shareholders' funds (net worth) | 564 | 516 | 498 | 324 | 282 | 237 | 249 |
| Secured loans | 0.85 | 1.09 | 43.07 | 15.86 | 0.60 | 28.00 | 43.00 |
| Unsecured loans | 2.10 | 1.31 | 1.50 | 1.42 | 1.61 | 1.19 | 38.91 |
| Total debt | 2.95 | 2.40 | 44.57 | 17.28 | 2.21 | 29.19 | 81.91 |
| Total liabilities | 587 | 528 | 551 | 347 | 289 | 271 | 336 |
| Assets | |||||||
| Gross block | 441 | 420 | 372 | 302 | 292 | 284 | 298 |
| Net block | 204 | 196 | 156 | 123 | 117 | 116 | 125 |
| Capital work in progress | 3.16 | 4.11 | 25.37 | 1.92 | 7.10 | 3.27 | 0.33 |
| Investments | 47.32 | 31.93 | 56.25 | 20.28 | 19.88 | 11.78 | 6.35 |
| Inventories | 152 | 126 | 145 | 116 | 89.97 | 62.46 | 62.21 |
| Sundry debtors | 232 | 192 | 179 | 125 | 93.15 | 105 | 130 |
| Cash & bank balances | 92.39 | 66.88 | 46.68 | 6.89 | 7.63 | 18.00 | 6.40 |
| Loans & advances | 32.89 | 34.67 | 47.11 | 17.85 | 19.34 | 16.30 | 69.01 |
| Total current assets | 509 | 420 | 418 | 266 | 210 | 202 | 267 |
| Total current liabilities | 251 | 170 | 150 | 105 | 104 | 105 | 98.41 |
| Net working capital | 258 | 250 | 268 | 162 | 106 | 97.57 | 169 |
| Total assets | 587 | 528 | 551 | 347 | 289 | 271 | 336 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 30.11 | 3.68 | 7.50 | 6.61 | 17.04 | 5.02 | 26.67 |
| Net cash from operating activities | 117 | 139 | 57.54 | 13.67 | 26.39 | 78.98 | 12.99 |
| Net cash from investing activities | (66.68) | (19.35) | (42.14) | (9.66) | (5.45) | (6.54) | (21.41) |
| Net cash from financing activities | (37.90) | (93.36) | (19.22) | (4.67) | (31.37) | (60.58) | (13.23) |
| Net change in cash | 12.15 | 26.43 | (3.82) | (0.66) | (10.43) | 11.86 | (21.65) |
| Closing cash | 92.39 | 66.88 | 46.68 | 6.89 | 7.63 | 18.00 | 6.40 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +1.7% | +4.6% | +37.4% | +17.4% | +47.9% | -14.9% | - |
| EBITDA growth | +85.0% | -48.8% | +38.7% | +44.2% | +1720.6% | -108.9% | - |
| PBT growth | +90.1% | -51.5% | +52.6% | +35.9% | +9998.0% | - | -13.5% |
| Net income growth | +32.3% | -24.7% | +48.9% | +55.7% | +151.4% | -40.6% | - |
| Revenue CAGR (3Y) | +13.5% | +19.1% | +33.6% | +13.9% | +8.9% | -0.8% | +6.0% |
| EBITDA CAGR (3Y) | +9.5% | +0.8% | - | +27.9% | +10.7% | - | +10.3% |
| Profitability & leverage | |||||||
| Net income margin | +7.3% | +3.9% | +8.4% | +7.6% | +6.8% | -2.7% | +4.9% |
| Return on capital employed | +20.6% | +20.0% | +28.1% | +26.1% | +19.7% | +6.1% | +12.0% |
| Return on net worth | +15.3% | +13.2% | +21.8% | +19.6% | +14.8% | +6.3% | +10.0% |
| Debt / equity | 0.00 | 0.05 | 0.08 | 0.03 | 0.06 | 0.23 | 0.29 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 |
| Interest cover | 3.80 | 14.02 | 5.24 | 5.03 | 11.71 | -55.02 | 32.36 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.64 | 2.82 | 3.17 | 2.62 | 2.30 | 1.54 | 1.82 |
| Inventory turnover | 8.17 | 8.24 | 8.18 | 7.53 | 8.68 | 7.18 | 9.24 |
| Debtors turnover | 5.35 | 6.01 | 7.02 | 7.12 | 6.67 | 3.81 | 4.91 |
| EPS (₹) | 47.59 | 24.98 | 65.70 | 43.60 | 33.10 | (8.82) | 18.84 |
| Dividend per share (₹) | 23.00 | 20.00 | 24.50 | 17.50 | 12.50 | 0.00 | 6.50 |
| Book value per share (₹) | 324.06 | 296.38 | 366.33 | 237.88 | 207.29 | 174.58 | 183.01 |
To see the full year-wise statements and ratios of Ador Welding Limited, buy the company report.
Board of directors of Ador Welding Limited
Ador Welding has 12 current directors and 18 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ninotchka Malkani Nagpal | Whole-Time Director | 03 Oct 1997 | 29 Years 0 Months | Current |
| Navroze Shiamak Marshall Also directs: S J Marshall Trading Company LLP, Jiji Marshall Trading Company LLP, Kihm Stahl Solutions LLP and 5 more | Director | 21 May 2022 | 4 Years 5 Months | Current |
| Deep Ashda Lalvani Also directs: J B Advani and Company Private Limited, Ador Foundation, Ador Powertron Limited and 4 more | Director | 27 Jul 2007 | 19 Years 2 Months | Current |
| Nita Dempo Mirchandani Also directs: Kavya Advisory Services LLP, Kine Advisory Services LLP, Iconia Advisors LLP and 5 more | Director | 01 Apr 2020 | 6 Years 6 Months | Current |
| Tanya Halina Advani Also directs: J B Advani and Company Private Limited, Ador Foundation, Ador Powertron Limited and 1 more | Director | 19 Nov 2019 | 6 Years 11 Months | Current |
| Gaurav Lalwani Mohan | Director | 10 Nov 2014 | 11 Years 11 Months | Current |
Peer comparison
Ador Welding Limited is compared with the 5 companies closest to it by revenue in the Machinery and Equipment industry (Tools and Components, Welding), with the same principal business activity (metal and metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Harsha Engineers International Limited | ₹1,445.38 Cr (FY 2025) | 2.0% | Sanand, Gujarat, India | |||
| Ador Welding Limitedthis company | ₹1,140.01 Cr (FY 2026) | ₹83.93 Cr | 7.4% | 1.5% | 646 | Mumbai, Maharashtra, India |
| National Steel and Agro Industries Limited | ₹1,122.66 Cr (FY 2024) | 73.0% | Mumbai, Maharashtra, India | |||
| Sterling Tools Limited | ₹1,037.95 Cr (FY 2025) | 11.0% | New Delhi, Delhi, India | |||
| Mittal Appliances Limited | ₹954.79 Cr (FY 2025) | 31.0% | Indore, Madhya Pradesh, India | |||
| Choksi Heraeus Private Limited | ₹942.16 Cr (FY 2025) | 46.0% | Udaipur, Rajasthan, India |
To see the full peer comparison of Ador Welding Limited, buy the company report.
Auditor
Ador Welding Limited is audited by WALKER CHANDIOK & CO LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| WALKER CHANDIOK & CO LLP | FY 2023 | 001076N/N500013 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 53.80%, foreign institutional investors hold 1.00%, domestic institutional investors hold 10.50% and retail and other public shareholders hold 34.70%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 53.80% | 53.80% | 53.70% | 53.70% |
| Public | 46.20% | 46.20% | 46.30% | 46.30% |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 05 Sep 2023 | 100783325 | Others | ₹70 Cr | Open | |
| 07 Sep 2022 | 100611992 | Others | ₹27.5 Lakh | Open | |
| 10 Jan 2022 | 100567784 | Others | ₹70 Lakh | Open | |
| 07 Jan 2016 | 10619219 | Hdfc Bank Limited | ₹10 Lakh | Open | |
| 29 Oct 2015 | 100038046 | Hdfc Bank Limited | ₹1.73 Lakh | Open |
To see the full charge records of Ador Welding Limited, buy the company report.
Total charge records: 76 View all charges
Deals & funding
Ador Welding Limited has 32 deals on record (22 market trades, 10 secondary share transfers); the latest was in June 2024.
Deals on record (5 of 32)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2024 | Market trade | ₹8.66 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Jan 2024 | Market trade | ₹16.82 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Nov 2023 | Market trade | ₹20.83 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Feb 2021 | Market trade | ₹3.17 Cr | Seller: Ithoughtwealth Analytics LLP |
| Jul 2016 | Secondary share transfer | Undisclosed | Buyer: Reliance Capital Trustee Co Ltd-A/C Reliance Mid & Small Cap Fund, Sundaram Mutual Fund A/C Sundaram Select Microcap Series X, Tata Trustee Co. Ltd A/C Tata Mutual Fund - Tata Infrastructure Fund, an individual Seller: Tata Trustee Co. Ltd A/C Ta, Nippon Life India Trustee Limited , Hdfc Small & Midcap Fund, an individual |
To see the full deal history of Ador Welding Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Ador Welding Limited has 278 court cases on record: 165 filed by Ador Welding, 113 filed against it. 41 cases are pending and 237 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 159 | 70 | 23 |
| District courts | 107 | 37 | 17 |
| Supreme Court | 7 | 6 | 1 |
| NCLT | 5 | 0 | 0 |
Cases on record (5 of 278)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Pune, Maharashtra | Commercial suit | Filed by the company against Prasad Macfab India Private Limited | Pending |
| High Court of Delhi | Court case (RFA(COMM)) | Filed by the company against Bansal Weld Pvt. Ltd. | Pending |
| District court, Pune, Maharashtra | Civil suit | Filed by the company against Prasad Macfab India Pvt Ltd Other 2 and 2 others | Pending |
| District court, Pune, Maharashtra | Civil suit | Filed by the company against A N Gas Lines Projects Pvt. Ltd and 4 others | Pending |
| District court, Central, Delhi | Commercial suit | Filed by the company against Bansal Weld Pvt Ltd | Disposed |
To see the full case history of Ador Welding Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Ador Welding Limited was last rated by Care on 06 Feb 2023.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 06 Feb 2023 |
To see the full credit ratings and regulatory alerts of Ador Welding Limited, buy the company report.
MSME payment delays
Ador Welding Limited has 6 MSME Form 1 returns on record between 2019 and 2024, listing 145 overdue payments to 44 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 44)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| P&P Metalloys Private Limited | |||
| Om Sai Industries | |||
| Bharat Steel Alloys | |||
| Elecsol Technology Private Limited |
To see the full MSME payment records of Ador Welding Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Ador Welding Limited has a workforce of 646 employees on its EPFO records as of Mar 27, 2024, across 4 active EPFO establishments.
GST
Ador Welding has 34 GST registrations: 13 active and 21 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACA9076B1ZU | Maharashtra | Active | 01 Jul 2017 |
| 27AAACA9076B2ZT | Maharashtra | Active | 12 Jul 2017 |
| 27AAACA9076B3ZS | Maharashtra | Active | 10 Feb 2021 |
| 18AAACA9076B1ZT | Assam | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Ador Welding Limited, buy the company report.
Recent activity
Ador Welding Limited has 28 board changes on record since 1997: 12 appointments and 16 cessations. The latest: Mihir Jayaraman was appointed as Director on 09 Nov 2024.
181 earlier events are in the company report.
News
Frequently asked questions
Ador Welding is an active public limited company based in Mumbai, Maharashtra, India. The company works in industrial tools and components, within the machinery and equipment industry. It was incorporated on 22 October 1951 (75+ years old) and is registered under CIN L70100MH1951PLC008647. Listed on BSE: 517041 and NSE: ADOR.
Ador Welding reported revenue of ₹1,140.01 Cr for FY 2025-26 (up 1.5% YoY) based on consolidated financials.
Ador Welding has 12 current directors:
- Aditya Tarachand Malkani - Managing Director
- Ninotchka Malkani Nagpal - Whole-Time Director
- Navroze Shiamak Marshall - Director
- Deep Ashda Lalvani - Director
- Nita Dempo Mirchandani - Director
- Tanya Halina Advani - Director
- Gaurav Lalwani Mohan - Director
- Jitendra Hiru Panjabi - Director
- Kunwar Digvijay Singh - Director
- Mihir Jayaraman - Director
- Ravin Ajit Mirchandani - Director
- Santosh Janakiram Iyer - Director
The latest financial statements of Ador Welding on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 23 July 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of Ador Welding is 27AAACA9076B1ZU, registered in Maharashtra. The company has 34 GST registrations in all, of which 13 are active and 21 are cancelled or inactive. Other active GSTINs include 27AAACA9076B2ZT (Maharashtra), 27AAACA9076B3ZS (Maharashtra), 18AAACA9076B1ZT (Assam).
The CIN (Corporate Identification Number) of Ador Welding is L70100MH1951PLC008647. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Ador Welding is a listed company as per MCA records. Its shares are listed on both BSE (code: 517041) and NSE (symbol: ADOR).
Ador Welding has 278 court cases on record: 165 filed by the company and 113 filed against it. 41 are pending. Most are in the high courts.
Ador Welding was incorporated on 22 October 1951, making it 75+ years old. It is registered with the Registrar of Companies, Mumbai.
Ador Welding has 32 deals on record (22 market trades, 10 secondary share transfers); the latest was in June 2024.
The peers of Ador Welding by revenue are Harsha Engineers International Limited, National Steel and Agro Industries Limited, Sterling Tools Limited, Mittal Appliances Limited, Choksi Heraeus Private Limited, all in the Machinery and Equipment industry (Tools and Components, Welding), with the same principal business activity (metal and metal products).
Mihir Jayaraman was appointed as Director on 09 Nov 2024. Jitendra Hiru Panjabi was appointed as Director on 28 Jul 2024. Piyush Kumar Gupta ceased to be Director on 28 Jul 2024. Ador Welding has 28 board changes on record in total.