Stock held by Ace Investor Ashish Kacholia jumped 13 percent from its previous day close price following its robust quarter ended September (Q2FY24) results, with 96 percent jump in Net Profit.
At the day’s closing the shares of Ador Welding Limited were trading at Rs. 1,452 up 9.68 percent from its previous day close price of Rs. 1,323.85 and its market capitalization is Rs. 1,978 Crores. Ace Investor Ashish Kacholia holds 4.38 percent stake in the company consisting of 5,95,400 equity shares.
Ador Welding Limited has reported a 22.22 percent jump YoY in Revenue from operations from Rs. 184.87 Crores in Q2FY23 to Rs. 225.96 Crores in Q2FY24 and it grew 19.15 percent QoQ from Rs. 189.63 Crores in Q1FY24 to Rs. 225.96 Crores in Q2FY24.
Its Net profit grew 96.19 percent YoY from Rs. 9.98 Crores in Q2FY23 to Rs. 19.58 in Q2FY24 and it grew 74.19 percent QoQ from Rs. 11.24 Crores in Q1FY24 to Rs. 19.58 Crores in Q2FY24.
As per the company’s financial statements its revenue from operations grew 17.43 percent from Rs. 661.48 Crores in FY22 to Rs. 776.76 Crores in FY23, accompanied by increasing profits of Rs. 45.02 Crores to Rs. 59.29 Crores.
It has reported a return on equity (ROE) of 19.59 percent and a return on capital employed (ROCE) of 26.66 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 56.90 percent stake, the Domestic Institutional Investors hold 4.02 percent and the Foreign Institutional Investors (FII) hold 0.13 percent.
Ador Welding Limited is one of the leading players in the field of Welding Products, Technologies and Services. It is also engaged in providing customised solutions for multi-disciplinary projects and contracts related to oil and gas, refineries, petrochemicals and other sectors.
Written by: Bharath K.S
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