Ador Welding Ltd. News and Updates

Name: Latest research reports of Ador Welding Ltd. authored by Karvy and published by - Trendlyne research reports.
Item: Ador Welding Ltd.
Rating: 1
Author: Karvy

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Ador Welding Ltd.

06 Nov 2018, 12:00AM

850.25

-3.16%

Ador Welding Ltd: Tepid Growth & Slow Margin Expansion

Sell: Ador Welding Ltd.

Karvy

Tepid Growth & Slow Margin Expansion: Q2FY19 results came below our estimates. YoY revenue grew by a meagre 3.0% due to lower volumes. Margin performance has disappointed, EBITDA margin is recorded at 7.9% vs our estimate of 8.7% owing to pressure from higher materialcosts (64%).

Ador Welding Ltd. has lost -24.63% in the last 3 Months

Ador Welding Ltd.

17 Aug 2018

850.25

-3.16%

Ador Welding Ltd: Moderate Growth & Slow Margin Expansion

Sell: Ador Welding Ltd.

Recommendation

Karvy

Low base effect, margins under pressure: Q1FY19 results came below our estimates. YoY revenue grew by 17.8% on the back of low base effect. However, Margin performance has disappointed, EBITDA margin is recorded at 7.3% vs our estimate of 10.4% owing to pressure from higher material costs (73.7%).

Ador Welding Ltd. is trading below all available SMAs

Ador Welding Ltd.

05 Jun 2018

850.25

-3.16%

Ador Welding Ltd: Tepid Growth & Sluggish Margin Expansion

Hold: Ador Welding Ltd.

Target

Karvy

Mixed results, margins under pressure: FY18 full year earnings grew by a meager 3% backed by a 3.6% revenue growth coupled with an EBITDA margin expansion of 60 bps. EBITDA margin has been recorded at 7.4% along with a net profit margin of 4.0% for FY18.

Ador Welding Ltd. has lost -36.63% in the last 6 Months

Ador Welding Ltd.

06 Mar 2018, 12:00AM

850.25

-3.16%

Ador Welding Ltd: Steady Growth, Improving Margins but Rich ... (Mar 06, 2018)

Hold: Ador Welding Ltd.

Target

Karvy

Steady Growth, Improving Margins but Rich Valuations; We assess Q3FY18 results as disappointing due to its meager YoY growth and margin contraction. YoY revenue growth of 1.1% is negated by higher finance costs & an EBITDA contraction of 86 bps to 6.5% and the EPS de-grew by 10.6%.

Ador Welding Ltd. is trading below all available SMAs

Ador Welding Ltd.

15 May 2017

850.25

-3.16%

Ador Welding Ltd: Steady Growth Ahead (May 15, 2017)

Hold: Ador Welding Ltd.

Target

Karvy

Impressive Quarter, margins under pressure though: Ador Welding (AWL)has registered a turnover growth of a massive 54.5% sequentially mainly due to low base effect resulted from demonetization during Q3FY17 & 5.1% YoY growth for Q4FY17 mainly on account of decent order book. EBITDA margin has contractedby 166 bps QoQ & 321 bps YoY for Q4FY17 to reach 6.3% owing to relatively higher operating expenses. EBIT & Net profit margins have also contracted by 68 bps &38 bps sequentially to 4.6% & 4.8% respectively in Q4FY17. Though the restoration of the repaired plants has resulted in improved production levels, demonetization seems to keep the revenue under pressure as the industrial activity remainedpressurized.

Ador Welding Ltd. has lost -36.63% in the last 6 Months

Ador Welding Ltd.

09 Feb 2017

850.25

-3.16%

Ador Welding Ltd: Improving Domestic Demand Environment Aide... (Feb 09, 2017)

Hold: Ador Welding Ltd.

Karvy

Improving Domestic Demand Environment Aided by GovtPolicies: Flat Quarter, margins affected due to weak growth - Ador Welding (AWL) has registered a meager turnover growth of 0.3% sequentially & 20.9% YoY growth forQ3FY17 mainly on account of decent order book. EBITDA margin has contracted by 184 bps QoQ & 263 bps YoY for Q3FY17 to reach 7.3% mainly on account of relativelyhigher expenses over revenue. EBIT & Net profit margins have also contracted by 180 bps & 66 bps sequentially to 4.8% & 4.0% in Q3FY17. Though the restorationof the repaired plants has resulted in improved production levels, demonetization seems to hit the revenue as the industrial activity remained pressurized.

Ador Welding Ltd.'s price crossed below 30Day SMA today

Ador Welding Ltd.

27 Oct 2016

850.25

-3.16%

Ador Welding Ltd: Banking on Revival in Domestic Demand Environment (Oct 27, 2016)

Hold: Ador Welding Ltd.

Recommendation Target

Karvy

Banking on Revival in Domestic Demand Environment: Recuperating from Q1FY17 disappointment: Ador Welding (AWL) has registered a turnover growth of 31.6% sequentially & 10.9% YoY growth for Q2FY17 mainly on account of healthy order book. EBITDA margin has also expanded by 620 bps QoQ & 150 bps YoY for Q2FY17 to reach 9.1% mainly on account of stableraw material and other expenses. EBIT & Net profit margins have also expanded by 680 bps & 310 bps sequentially to 6.6% & 4.7% in Q2FY17. Positivity in results maybe related to the restoration in their plants which suffered repairs during Q1FY17 due to which production was cut down.

Ador Welding Ltd. has lost -36.63% in the last 6 Months

Ador Welding Ltd.

25 Oct 2016

850.25

-3.16%

Order bodes well for AdorWelding

Business Line

Ador Welding's Project Engineering Business division has secured an order from one of the GCC countries. The order, which is expected to be executed in about 12 months, will generate a turnover of...

Ador Welding Ltd. has an average target of 1621.00 from 1 broker.

Ador Welding Ltd.

11 Aug 2016

850.25

-3.16%

Ador Welding Ltd: Banking on Revival in Domestic Demand Envi... (Aug 11, 2016)

Buy: Ador Welding Ltd.

Karvy

Banking on Revival in Domestic Demand Environment: Surge in domestic industrial activity complemented by adequate capacityheadroom - Growth in investment activities and increased investments in key sectors like power, steel, construction, infrastructure and cement are giving an optimistic outlook for future. We believe the Gross Fixed Capital Formation (GFCF)to GDP to improve to over 33% by FY17E; also AWLs current capacity utilization levels of ~ 65%-70% leave enough headroom to sustain the anticipated increase in demand. We expect the capacity utilization rates to surge up to ~ 80%-85% by FY18E to aid revenue to grow at 7.5% CAGR for FY16-18E.

Ador Welding Ltd. has lost -24.63% in the last 3 Months

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Is Ador Welding Ltd. worth buying?

40 Votes:

Buy 72.5%

Sell 20.0%

Hold 7.5%

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