
Ador Welding Limited (ADORWELD.BO)
ValueMarkers Composite Index
121% above intrinsic value ($5)
Ador Welding Limited (ADORWELD.BO) — VMCI valuation read
Headline read on ADORWELD.BO: VMCI of 52/100 versus a Industrials sector median of 50. The 2-point above-median position is what makes Ador Welding Limited a relative-value candidate in the mid-cap cohort, before any pillar-level review.
Form 4 filings on ADORWELD.BO: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.
**Investor frame.** Three reads on ADORWELD.BO: value (ADORWELD.BO trades at 17.0x earnings, 6% below the Industrials median of 18.0x), quality (ROIC of 11.0% sits 1.0pp above the Industrials median (10.0%)), and risk (net debt to EBITDA of 3.3x is the binding constraint on the bear case). The value read also implies an EV/EBITDA gap of +4.0x against the Industrials 12.0x baseline.
ADORWELD.BO fell 1.1% over the trailing 7 days, with a -15.5% read on a 30-day basis.
Ador Welding Limited manufactures and supplies welding equipment, consumables, and automation solutions in India and internationally. The company operates through three segments: Consumables; Equipments and Automation; and Flares & Process Equipment. It provides welding electrodes, including mild steel general purpose, mild steel special, low alloy high tensile, cellulosic, hardfacing, stainless steel, gouging and cutting, cast iron, and non-ferrous electrodes; wires and fluxes products comprising submerged arc welding fluxes and wires, and flux cored arc welding products, as well as metal cored arc wire, gas metal arc welding (GMAW), and gas tungsten arc welding (GTAW) products; and brazing rods and fluxes. The company also offers welding and cutting equipment, such as air plasma cutting, submerged arc welding, advanced multipurpose synergic, GMAW, TIG Welding, and MMA equipment; gas cutting products, gas cutting-welding accessories, flares and process equipment, and personal protective equipment; and CNC cutting machines. In addition, it engages in the designing, manufacturing, erection, commissioning, mechanical, electrical, and instrumentation of process packages, process equipment, and flare system and components, as well as undertakes various EPC contracts. Further, the company provides welding automation products consisting of robotic systems, columns, booms, positioners, rotators, and special purpose machines; and offers skill development services. It serves pipeline, oil and gas, power, heavy engineering, shipbuilding, railway, automotive, infrastructure, transportation, and mobility sectors. The company was formerly known as Advani-Oerlikon Ltd. The company was incorporated in 1951 and is headquartered in Mumbai, India. Ador Welding Limited is a subsidiary of J. B. Advani & Company Private Limited.
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Definitions, formulas, and how ValueMarkers calculates each indicator used in ADORWELD.BO’s VM Score.
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