The shares of the small-cap company gained up to 2 percent from its intraday high after Quant Mutual Fund and Quant PSU funds bought 2.8 lakh and 1 lakh shares in the company, respectively.
With a market capitalization of Rs 1,942.13 crore, the shares of Ador Welding Ltd were trading in positive at Rs 1,428.20 per share, increasing around 0.57 percent as compared to the previous closing price of Rs 1,419 apiece.
As of March 2024, prominent investor Ashish Kacholia holds 5.66 lakh equity shares which is equivalent to 4.17 percent of Ador Welding out of which he sold 3.8 lakh shares which is 2.85 percent in the company at an average price of Rs 1,255.01 apiece.
However, Quant Mutual Fund and Quant PSU funds bought 2.8 lakh and 1 lakh shares which is equivalent to 2.5% and 0.7% in the company, respectively at an average price of Rs 1,255 per share.
Examining the company’s financial performance, revenue surged by 5 percent from Rs 235 crore in Q4FY23 to Rs 247 crore in Q4FY24, however, during the same period net profit plumped by 17 percent from Rs 23 crore to Rs 19 crore.
Looking forward into the company’s shareholding pattern, the promoter owns 56.09 percent in the company, retail investors own 37.25 percent, domestic institutional investors own 5.74 percent at last Foreign institutional investors own 0.10 percent.
The firm has a strong foothold in India and is growing abroad. It has approximately 70 distributors and dealers across the Middle East, Africa, and Southeast Asia.
Ador Welding Limited is an Indian welding firm. The company manufactures welding goods, technology, and services. Its segments include Consumables, Equipment and Automation, and Flares & Process Equipment Division.
Written by:- Abhishek Singh
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