Ador Welding posts decent Q1FY23 resultsADORWELD - 1523 Change: -16.00 (-1.04 %)
News: Ador Welding (AWL) reported consolidated revenues at Rs 157.9 crore, up 23.5% YoY led by better performance in all business. EBITDA came in at Rs 16.3 crore, up 46.2% YoY. EBITDA margin came to 10.3% expanded 160 bps YoY and 146 bps QoQ. Gross margins for Q1FY23 were at 33.9% vs. 29.1% in Q1FY22. While it improved 490 bps sequentially. adjusted PAT came in at Rs 11.4 crore grew 68.5% YoY.
View: For Q1FY23, consumables segment revenue came in at Rs 121.4 crore (which contributed ~76.9% to total revenue), up 16.5% YoY. Equipment & automation segment grew 15.2% to Rs 22.7 crore YoY while flares & process equipment business revenue came in at Rs 13.9 crore and strongly grew 199.6% YoY and 95.4% QoQ. EBIT margin for Consumable business expanded 430 bps YoY to 15.1% and 390 bps QoQ, Equipment & Automation EBIT margin declined to 3% (vs. 11% in Q1FY22) and (5.7% in Q4FY22) while Flares & Process equipment business margin came at 14.4% vs -15.5% in last year same time and 1.4% in Q4FY22. Double digit EBITDA margin came after a long time.