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Project Write-Off Dents Ador Welding’s Q1, But Long-Term Growth Story Intact: IDBI Capital Maintains ‘Buy’
IDBI Capital sees Ador Welding's valuations to be attractive and believes the company is gearing up to tap the opportunities in the domestic capex upcycle.
19 Aug 2025, 01:45 PM IST 
Ador's core welding revenue was down by 4% YoY and Ebit margins down by 60 bps YoY at 14.5%.
(Photo: company website)
Core Welding revenue was down by 4% YoY and Ebit margins down by 60 bps YoY at 14.5%. However, we expect a steady recovery from here on with the demand situation improving in key areas such as Nuclear, Thermal, Defense and General Engineering.
