Ador Welding Limited — Year ended 31 March 2026 (Quarter ended 31 March 2026 and quarter ended 31 December 2025 also disclosed)
Optional commentary: The document contains audited standalone and consolidated financial results for the year ended 31 March 2026, including quarter-wise figures for the quarter ended 31 March 2026 (audited) and 31 December 2025 (unaudited), and comparative quarter ended 31 March 2025 (audited), along with segment, balance sheet, and cash flow tables.
| Sr. No. | Particulars | Quarter ended 31 March 2026 (Audited) | Quarter ended 31 December 2025 (Unaudited) | Quarter ended 31 March 2025 (Audited) | Year ended 31 March 2026 (Audited) | Year ended 31 March 2025 (Audited) |
|---|---|---|---|---|---|---|
| 1 | Income | |||||
| Revenue from operations | 31,796 | 28,695 | 30,799 | 1,13,545 | 1,11,683 | |
| Other income (refer note 6) | 562 | 392 | 529 | 1,964 | 2,023 | |
| Total income | 32,358 | 29,087 | 31,328 | 1,15,509 | 1,13,706 | |
| 2 | Expenses | |||||
| Cost of materials consumed | 18,092 | 14,927 | 17,278 | 61,809 | 66,079 | |
| Purchases of stock-in-trade | 2,051 | 2,299 | 2,160 | 9,562 | 7,171 | |
| Changes in inventories of finished goods, work-in-progress, stock-in-trade and right to receive inventory | 193 | 607 | 904 | (640) | (931) | |
| Employee benefits expense | 2,848 | 2,989 | 2,490 | 11,574 | 10,809 | |
| Finance costs | 40 | 33 | 86 | 220 | 452 | |
| Depreciation and amortisation expense | 495 | 491 | 463 | 1,930 | 1,790 | |
| Onerous cost and Liquidated Damages (refer note 4) | (310) | – | – | 2,482 | – | |
| Impairment reversal on trade receivables (refer note 6) | (568) | (844) | – | (1,412) | – | |
| Other expenses | 4,763 | 4,352 | 4,856 | 18,024 | 18,172 | |
| Total expenses | 27,604 | 24,854 | 28,237 | 1,03,549 | 1,03,542 | |
| 3 | Profit / (Loss) before exceptional items and tax (1-2) | 4,754 | 4,233 | 3,091 | 11,960 | 10,164 |
| 4 | Exceptional items (refer note 3) | (241) | (590) | (138) | (831) | (4,310) |
| 5 | Profit / (Loss) before tax (3-4) | 4,513 | 3,643 | 2,953 | 11,129 | 5,854 |
| 6 | Tax expenses | |||||
| Current tax | 1,107 | 957 | 853 | 3,295 | 2,656 | |
| Deferred tax | 52 | (24) | (99) | (446) | (1,148) | |
| Total tax expenses (net) | 1,159 | 933 | 754 | 2,849 | 1,508 | |
| 7 | Profit / (Loss) for the year / period (5-6) | 3,353 | 2,710 | 2,199 | 8,280 | 4,346 |
| 8 | Other comprehensive income for the year / period (net of tax) | |||||
| Items not to be reclassified subsequently to profit or (loss) | ||||||
| – Re-measurement loss on defined benefit liability | 34 | – | 12 | (75) | (110) | |
| – Income tax effect on above | (8) | – | (3) | 19 | 28 | |
| 9 | Total comprehensive income for the year / period (after tax) | 3,379 | 2,710 | 2,208 | 8,224 | 4,264 |
| 10 | Paid-up equity share capital (Face value of Rs. 10 per share) | 1,740 | 1,740 | 1,740 | 1,740 | 1,740 |
| 11 | Other equity (excluding revaluation reserve Rs. Nil) | – | – | – | 54,647 | 49,830 |
| 12 | Earnings per equity share (Face value of Rs. 10) (EPS) (net of tax) (in Rs.) | |||||
| Basic Earnings Per Share (not annualized except for year end) | 19.27 | 15.57 | 12.64 | 47.58 | 24.98 | |
| Diluted Earnings Per Share (not annualized except for year end) | 19.24 | 15.55 | 12.64 | 47.53 | 24.98 |
| Sr. No. | Particulars | Quarter ended | | | Year ended | |
| — | — | — | — | — | — | — | — |
| | | 31 March 2026
Audited | 31 December 2025
Unaudited | 31 March 2025
Audited | 31 March 2026
Audited | 31 March 2025
Audited | |
| 1 | Segment wise revenue, results, assets, liabilities and capital employed | | | | | | |
| | Segment revenue | | | | | | |
| | Welding | 30,566 | 26,553 | 28,061 | 1,07,888 | 1,03,654 | |
| | Flares & Process Equipment | 1,233 | 2,145 | 2,814 | 5,671 | 8,392 | |
| | Less: Inter segment revenue | (3) | (3) | (76) | (14) | (363) | |
| | Total revenue from operations | 31,796 | 28,695 | 30,799 | 1,13,545 | 1,11,683 | |
| 2 | Segment results | | | | | | |
| | Welding | 4,726 | 3,867 | 4,170 | 16,430 | 14,050 | |
| | Flares & Process Equipment (refer note 4 and note 6) | 545 | 821 | (530) | (2,306) | (1,630) | |
| | Total | 5,271 | 4,688 | 3,640 | 14,124 | 12,420 | |
| | Less: | | | | | | |
| | Finance costs (unallocable) | (5) | (5) | (13) | (23) | (221) | |
| | Other unallocable expenses net of unallocable income | (512) | (450) | (536) | (2,141) | (2,035) | |
| | Profit / (Loss) before exceptional items and tax | 4,754 | 4,233 | 3,091 | 11,960 | 10,164 | |
| | Exceptional items | | | | | | |
| | Welding | (444) | (444) | – | (207) | (479) | |
| | Flares & Process Equipment | (50) | (50) | – | (23) | – | |
| | Other unallocable expenses net of unallocable income (refer note 3) | 253 | (96) | (138) | (601) | (3,831) | |
| | Total Exceptional items | (241) | (590) | (138) | (831) | (4,310) | |
| | Total Profit / (Loss) before tax | 4,513 | 3,643 | 2,953 | 11,129 | 5,854 | |
| 3 | Segment assets | | | | | | |
| | Welding | 56,988 | 54,109 | 52,594 | 56,988 | 52,594 | |
| | Flares & Process Equipment | 6,009 | 6,363 | 7,651 | 6,009 | 7,651 | |
| | Unallocable corporate assets | 20,811 | 19,133 | 9,576 | 20,811 | 9,576 | |
| | Total assets | 83,808 | 79,605 | 69,821 | 83,808 | 69,821 | |
| 4 | Segment liabilities | | | | | | |
| | Welding | 20,753 | 19,403 | 14,663 | 20,753 | 14,663 | |
| | Flares & Process Equipment | 5,086 | 5,712 | 2,481 | 5,086 | 2,481 | |
| | Unallocable corporate liabilities | 1,582 | 1,517 | 1,107 | 1,582 | 1,107 | |
| | Total liabilities | 27,421 | 26,632 | 18,251 | 27,421 | 18,251 | |
| 5 | Capital employed | | | | | | |
| | Welding | 36,235 | 34,706 | 37,931 | 36,235 | 37,931 | |
| | Flares & Process Equipment | 923 | 651 | 5,170 | 923 | 5,170 | |
| | Unallocable corporate assets net of unallocable corporate liabilities | 19,229 | 17,616 | 8,469 | 19,229 | 8,469 | |
| | Total capital employed | 56,387 | 52,973 | 51,570 | 56,387 | 51,570 | |
| Particulars | As at 31 March 2026 (Audited) | As at 31 March 2025 (Audited) |
|---|---|---|
| ASSETS | ||
| Non-current assets | ||
| (a) Property, plant and equipment | 18,032 | 17,384 |
| (b) Right-of-use assets | 1,244 | 1,150 |
| (c) Capital work-in-progress | 316 | 411 |
| (d) Investment properties | 1,073 | 1,028 |
| (e) Intangible assets | 8 | 33 |
| (f) Financial assets | ||
| (i) Investments | 1,639 | 809 |
| (ii) Other financial assets | 3,425 | 843 |
| (g) Income tax assets (net) | 1,546 | 1,407 |
| (h) Deferred tax assets (net) | 1,912 | 1,447 |
| (i) Other non-current assets | 645 | 903 |
| Total Non-current assets | 29,840 | 25,415 |
| Current assets | ||
| (a) Inventories | 15,162 | 12,632 |
| (b) Financial assets | ||
| (i) Investments | 3,093 | 2,384 |
| (ii) Trade receivables | 23,185 | 19,235 |
| (iii) Cash and cash equivalents | 4,226 | 3,011 |
| (iv) Bank balances other than (iii) above | 5,013 | 3,677 |
| (v) Loans | 101 | 495 |
| (vi) Other financial assets | 715 | 626 |
| (c) Other current assets | 2,473 | 2,346 |
| Total Current assets | 53,968 | 44,406 |
| Total Assets | 83,808 | 69,821 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| (a) Equity share capital | 1,740 | 1,740 |
| (b) Other equity | 54,647 | 49,830 |
| Total equity | 56,387 | 51,570 |
| Liabilities | ||
| Non-current liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings | 58 | 84 |
| (ii) Lease liabilities | 146 | 77 |
| (iii) Other financial liabilities | 54 | 43 |
| (b) Provisions | 1,999 | 922 |
| (c) Other non-current liabilities | 2 | 3 |
| Total Non-current liabilities | 2,259 | 1,129 |
| Current liabilities | ||
| (a) Financial Liabilities | ||
| (i) Borrowings | 27 | 25 |
| (ii) Lease liabilities | 64 | 54 |
| (iii) Trade payables | ||
| Total outstanding dues to micro and small enterprises | 1,922 | 1,571 |
| Total outstanding dues to creditors other than micro and small enterprises | 17,384 | 10,782 |
| (iv) Other financial liabilities | 3,606 | 2,600 |
| (b) Other current liabilities | 1,327 | 829 |
| (c) Provisions | 758 | 1,261 |
| (d) Current tax liabilities (net) | 74 | – |
| Total Current liabilities | 25,162 | 17,122 |
| Total Equity and Liabilities | 83,808 | 69,821 |
| Particulars | Year ended 31 March 2026 (Audited) | Year ended 31 March 2025 (Audited) |
|---|---|---|
| Cash flow from operating activities | ||
| Profit before tax | 11,129 | 5,854 |
| Adjustment for: | ||
| – Provision / liabilities no longer required now written back | (67) | (17) |
| – Depreciation and amortisation expense | 1,930 | 1,790 |
| – Impairment Loss on trade receivables | 25 | 87 |
| – Loss allowances on trade receivables | 211 | 500 |
| – Impairment reversal on trade receivables (refer note 6) | (1,412) | – |
| – Impairment loss on Inventories | 854 | 373 |
| – Equity settled share based payments | 74 | – |
| – Inventory written off | 16 | 70 |
| – Property, plant and equipment impaired | 36 | 204 |
| – Finance costs | 209 | 428 |
| – Gain on sale |