Ador Welding Limited — Investor Meet, 17-10-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Ador Welding reports Q2 sales up 5% QoQ, with gross margins at 32.7% and EBITDA at 12.5%, a 500 bps improvement. The financial results for the quarter and half-year showed half-year PBT at INR58 Cr (11%). Management attributes margin expansion to pricing discipline and better product mix, asserting sustainability. Inventory days improved to 47. Automation division is gaining traction with new robotic solutions and orders. While H1 revenues were soft, especially in exports (US tariffs, Saudi delays), domestic volumes saw 4-5% growth. Strategic focus remains on higher-margin products and targeted market expansion.