- 23 May 2022
- ICICIdirect Research
ADOR WELDING POSTS DECENT SET OF Q4FY22 NUMBERS
ADORWELD - 1143 Change: -14.10 (-1.22 %)News: Ador Welding reported a decent set of Q4FY22 numbers. Consolidated revenues at Rs. 199.8 crore, up 23.6% YoY, 14.6% QoQ, led by better performance in consumables and equipment business. EBITDA came in at Rs. 17.7 crore, up 13.3% YoY, 7.7% QoQ. EBITDA margin came in at 8.8%, down 81 bps YoY and 57 bps QoQ. Gross margins for Q4FY22 were at 29% vs. 29.1% in Q4FY21. It declined 130 bps sequentially. Adjusted PAT came in at Rs. 12 crore, up 20.8% YoY, 15.1% QoQ
Views: For Q4FY22, consumables segment revenue came in at Rs. 166 crore (which contributed ~83% to total revenue), grew 36% YoY, 19% QoQ, Equipment & automation segment grew marginally by 0.6% to Rs. 26.8 crore YoY and 8.6% QoQ. While flares & process equipment business revenue came in at Rs. 7.1 crore, it de-grew 45.4% YoY. EBIT margin for consumable business improved 130 bps YoY to 11.2% but declined sequentially by 170 bps, Equipment & automation EBIT margin declined to 5.7% (vs. 17.4% in Q4FY21) while flares & process equipment business margin came in at 1.4% vs. 7.8% in the last year at the same time
Impact: Positive