Ador Welding share price today

Ador Welding Ltd's share price was ₹1,414.20 at the close on 4 November 2026. It has been rising for 21 weeks. That is 7.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹869 and ₹1,674, and at that close it sat 68% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Ador Welding Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 3 weeks running.

Over the last 11 years the share price moved +430% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 16 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: foreign funds (FIIs) raised their stake for 6 quarters in a row, revenue up on a year earlier for 5 quarters in a row and profit up on a year earlier for 5 quarters in a row.

1. Foreign funds (FIIs) raised their stake for 6 quarters in a row

   From 0% to 1.1% of the company by the September 2026 quarter.

2. Revenue up on a year earlier for 5 quarters in a row

   In the September 2026 quarter revenue was ₹345 crore, +22.8% on a year earlier.

   Why: Revenue rose because the company sold more in volume, up in the mid to high teens, and demand was healthy across infrastructure, power, oil and gas, railways, shipbuilding, defence and heavy fabrication.

   Next results: check whether export sales keep growing and whether the Middle East share of exports changes.

   From the earnings call on 23 Oct 2026.

3. Profit up on a year earlier for 5 quarters in a row

   In the September 2026 quarter profit was ₹27 crore, +8% on a year earlier.

   Why: Profit rose because the company sold more in volume, up in the mid to high teens, even though steel and raw material costs rose and price increases came late in the quarter.

   Next results: check whether price increases now lift the share of sales left after costs from the low point and how quickly they show up.

   From the earnings call on 23 Oct 2026.

For July to September 2026 (the quarter ended 30 September 2026), Ador Welding reported revenue of ₹345 crore, up 22.8% from ₹281 crore a year earlier, and a profit of ₹27.0 crore, up 8.0% from ₹25.0 crore.

Ador Welding results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Ador Welding's management discussed these results on a call held on 23 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Ador Welding closed at ₹1,414.20 on 4 November 2026, up 37.5% from ₹1,028.70 a year earlier (7 November 2025) and up 102.6% over five years. Its highest weekly close since March 2016 was ₹1,674.40 on 4 September 2026.

Ador Welding share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

564 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: Ador Welding closed at ₹1,414.20, up 5.9% on the week and down 9.9% on the month. 30 Oct 2026: ex-date for an interim dividend of ₹7.50 a share.

Earlier

• 23 Oct 2026: Ador Welding held its results call for July to September 2026. Management guided: Sustainable operating profit in 12-13% band then push higher.
• Results for July to September 2026: Revenue up 22.8% and profit up 8.0% on a year earlier.
• 16 Jul 2026: ex-date for a dividend of ₹23 a share.

Ador Welding paid ₹30.50 a share in regular dividends in the 12 months to 5 November 2026 (2 payments), a yield of 2.16% at the ₹1,414.20 close on 4 November 2026. The last was an interim dividend of ₹7.50 a share, ex-date 30 October 2026.

Ador Welding dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Ador Welding Ltd paid out 49% of its profit as dividends in FY26, and it paid a dividend in 11 of its last 13 reported years. One of those years shows a negative figure because profit itself was negative.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 23 October 2026, Ador Welding's management guided: Sustainable operating profit in 12-13% band then push higher.

“Automation remains a strategic priority as rising labor costs and shortages of skilled welders drive customers-large, midsize, and small-to invest in productivity. - Aditya Malkani”MD and CEO, on the call for July to September 2026

What management guided

• Gross margin recovery toward 37-38% ideal band.
• Incremental growth 60-70% from product mix and 20-25% from equipment innovation, partnerships and automation.
• Capital spending ₹30-35 crore this year and ₹60-70 crore annually for next two years via internal accruals with no debt or equity.
• Double-digit volume seen sustainable with aggressive second-half goals.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 23 October 2026.

Management stated 'best order book ever' on automation offerings; automation/robotics/cobot/laser product suite now commercial with early-stage orders received.

✓ fact

Our read after the latest results, written 14 June 2026.

Three documented say-do gaps across consecutive calls limit confidence in forward guidance on margins and growth trajectory.

The main risks

• Management Consistency Failures: Three documented say-do gaps across consecutive calls limit confidence in forward guidance on margins and growth trajectory. ✓ fact
• IIP / Macro Sensitivity: Business tracks IIP at ~0.9x elasticity, secular growth is IIP-plus until new verticals (automation, shipbuilding) scale. ✓ fact

Our read after the latest results, written 14 June 2026.

When Ador Welding reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Gross recovery from Q2 trough toward flagged ideal band - check Q3 print for pass-through lift and pace.

Ador Welding is on one of our India lists: Dividend stocks.

Ador Welding Ltd earned ₹27.0 Cr of net profit in the Sep 2026 quarter, +8.0% on the same quarter a year earlier. Full-year FY26 profit was ₹82.0 Cr. Over 11 years profit has grown 8.9% a year on average. That is 7.8% of the quarter's revenue. The same quarter a year earlier earned ₹25.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

1 of the last 12 reported quarters were loss-making.

For the full year, FY26 profit was ₹82.0 Cr (+36.7% on the year before).

Why profit moved: revenue changed +22.8% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +59.0% and revenue +13.4%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY27-Q1. revenue ₹309 Cr and profit ₹28 Cr as reported.

FY27-Q2. revenue ₹345 Cr and profit ₹27 Cr as reported.

Why-sources: our stock research file (14 June 2026) and the company’s own results for those quarters.

Ador Welding Ltd reported ₹345 Cr of revenue in the Sep 2026 quarter, +22.8% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 11 years it has grown 10.3% a year on average. The last full year, FY26, came in at ₹1,140 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. Management noted per 'best order book ever on automation offerings'. New product launches include Miller (ITW) partnership for advanced submerged arc welding equipment, nuclear consumable approvals, wind-application fluxes, and battery-powered welding equipment. Automation/cobot/laser suite generating first orders. Revenue contribution currently small but order momentum accelerating from a near-zero base.

The last four reported quarters add to ₹1,261 Cr.

FY26 revenue was ₹1,140 Cr, +1.5% on the year before.

Recent pace: the last four quarters grew +13.4% on average, against 10.3% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +12.9%, against +7.3% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +114.8%, against +27.8% a year (accelerating).

FY27-Q1. revenue ₹309 Cr and profit ₹28 Cr as reported.

FY27-Q2. revenue ₹345 Cr and profit ₹27 Cr as reported.

Why-sources: our stock research file (14 June 2026) and the company’s own results for those quarters.

Ador Welding Ltd's operating margin was 11.0% in the Sep 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 5.0% and 11.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −1.4 percentage points on the year while gross margin changed −4.4 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

FY27-Q1. revenue ₹309 Cr and profit ₹28 Cr as reported.

FY27-Q2. revenue ₹345 Cr and profit ₹27 Cr as reported.

Why-sources: our stock research file (14 June 2026) and the company’s own results for those quarters.

Over the last 3 years, 136% of Ador Welding Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹116 Cr of operating cash against ₹82.0 Cr of profit. After ₹25.0 Cr of spending on assets, ₹91.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 136% of profit came in as cash: the cash cycle got 26 days shorter between FY20 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 1.6× depreciation over three years. The next section checks what that spending is building.

Ador Welding Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 53 days in FY26, down from 79 days in FY20. It spent ₹77.0 Cr on assets over the last 3 years. Customers take 74 days to pay, and stock sits for 78 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹1,140 Cr, each day of that cycle ties up about ₹3.1 Cr, so roughly ₹166 Cr is tied up in the business at any time.

FY26: customers took 74 days to pay and stock sat for 78 days, about 2.6 months of sales sitting as stock, for a full cycle of 53 days, shorter than FY20's 79.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 78 days. Customers pay about 74 days after that. Suppliers are paid at 100 days. Together that makes the 53-day cycle.

Spending on assets: ₹77.0 Cr over the last 3 years, against ₹48.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹3.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Ador Welding Ltd's P/E is 20.9×, near the low end of its own history: it has been lower only 26% of the time. Its usual P/E (the middle reading) is 25.6×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹66.34.

Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.