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Ador Fontech

₹144.9 -0.8 | 0.5%

Market Cap ₹507 Cr.

Stock P/E 21.4

P/B 3.8

Current Price ₹144.9

Book Value ₹ 37.8

Face Value 2

52W High ₹169.7

Dividend Yield 4.14%

52W Low ₹ 102.2

Ador Fontech Research see more...

Overview Inc. Year: 1974Industry: Electrodes & Welding Equipment

Ador Fontech Ltd is an India-based business enterprise, which focuses on consumables, equipment/automation and ancillaries, and offerings. The Company's segments encompass Products and Services. The Company's geographical segments consist of India and Rest of the sector. Its merchandise include welding-cutting equipment, automation, wear resistant merchandise, safety merchandise and thermal spray. Its consumables consist of welding electrodes, filler rods and wires, and tubular alloys. Its automation products encompass cutting automation and welding automation. Its wear resistant products encompass wear resistant alloys, ceramics and flux cored wire. Its safety merchandise include fume extraction, curtains and strips, and welding helmet. Its product spectrum consists of low-heat input alloys, strong and flux-cored wires, fume extraction merchandise, ceramic lined additives, in-situ machining structures, thermal spray merchandise, rebuilding and reclamation offerings. Its offerings include refurbishment wear solutions.

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Ador Fontech Share Price

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Quarterly Price

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Ador Fontech Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 51 51 50 52 54 58 50 54 50 56
Other Income 1 1 1 1 1 0 1 1 2 4
Total Income 51 53 51 53 56 58 51 55 51 59
Total Expenditure 44 43 44 46 47 48 43 46 43 50
Operating Profit 7 9 6 7 8 9 8 9 8 10
Interest 0 0 0 0 0 0 0 0 0 -0
Depreciation 1 1 1 1 1 1 1 1 1 1
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 7 8 5 6 7 9 7 8 7 9
Provision for Tax 2 3 2 2 2 3 2 2 2 1
Profit After Tax 5 5 3 3 5 6 5 6 5 7
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 5 5 3 3 5 6 5 6 5 7
Adjusted Earnings Per Share 1.4 1.5 0.9 0.9 1.5 1.7 1.5 1.7 1.5 2.1

Ador Fontech Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 141 139 143 147 152 186 177 150 210 214 210
Other Income 3 4 4 3 4 3 3 2 5 4 8
Total Income 143 143 147 149 156 189 180 152 214 218 216
Total Expenditure 121 120 128 135 141 169 163 132 181 187 182
Operating Profit 22 24 19 14 15 20 17 20 33 31 35
Interest 0 0 0 0 0 0 1 0 0 0 0
Depreciation 3 4 3 4 3 3 3 3 3 4 4
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 19 20 15 10 11 16 14 16 30 27 31
Provision for Tax 7 7 6 3 4 5 5 6 8 9 7
Profit After Tax 12 13 9 7 7 11 9 10 21 18 23
Adjustments 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 12 13 9 7 7 11 9 10 21 18 23
Adjusted Earnings Per Share 3.5 3.7 2.7 2.1 2 3.1 2.5 2.9 6.1 5 6.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 2% 7% 7% 0%
Operating Profit CAGR -6% 22% 16% 0%
PAT CAGR -14% 26% 21% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 40% 52% 23% 14%
ROE Average 14% 14% 12% 12%
ROCE Average 22% 21% 19% 18%

Ador Fontech Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 82 88 91 92 99 105 99 109 123 127
Minority's Interest 0 0 0 0 0 0 0 0 0 0
Borrowings 2 2 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 7 4 5 1 0 -0 -0 -3 -5 -4
Total Current Liabilities 25 32 34 33 27 29 38 32 34 29
Total Liabilities 116 126 129 126 126 133 137 138 152 151
Fixed Assets 21 22 23 22 21 19 28 28 30 29
Other Non-Current Assets 11 9 9 7 6 7 9 4 0 0
Total Current Assets 85 95 97 98 99 107 99 106 122 122
Total Assets 116 126 129 126 126 133 137 138 152 151

Ador Fontech Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 3 25 32 30 0 4 3 3 1 1
Cash Flow from Operating Activities 6 13 7 1 3 5 19 9 20 18
Cash Flow from Investing Activities 2 1 -2 0 2 -2 -8 -4 -11 -2
Cash Flow from Financing Activities -7 -7 -7 -6 -2 -3 -11 -8 -8 -14
Net Cash Inflow / Outflow 1 7 -3 -5 3 -1 0 -2 0 2
Closing Cash & Cash Equivalent 3 32 30 25 4 3 3 1 1 3

Ador Fontech Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 3.5 3.74 2.66 2.06 1.99 3.14 2.52 2.87 6.09 5.02
CEPS(Rs) 4.31 4.78 3.56 3.13 2.97 4.08 3.44 3.72 7 6.04
DPS(Rs) 3.5 3.5 3.5 3 3 3.5 1.8 2.2 4 5
Book NAV/Share(Rs) 23.48 25.08 25.99 26.25 28.36 29.87 28.19 31.13 35.08 36.16
Core EBITDA Margin(%) 13.29 13.23 9.76 7.96 6.99 9.13 8.25 11.59 13.64 12.57
EBIT Margin(%) 13.2 13.58 10.29 7.23 7.33 8.94 8.04 11.24 14.29 12.68
Pre Tax Margin(%) 13.09 13.45 10.19 6.99 7.16 8.74 7.68 11 14.12 12.55
PAT Margin (%) 8.22 8.89 6.15 4.91 4.57 5.89 4.98 6.71 10.18 8.2
Cash Profit Margin (%) 10.12 11.36 8.23 7.48 6.85 7.65 6.79 8.7 11.69 9.87
ROA(%) 10.52 10.82 7.3 5.64 5.5 8.49 6.56 7.31 14.72 11.59
ROE(%) 14.89 15.4 10.41 7.88 7.27 10.79 8.69 9.67 18.41 14.08
ROCE(%) 23.37 23.02 17.17 11.54 11.54 15.97 13.45 15.63 25.65 21.79
Receivable days 67.45 68.41 72.65 78.55 67.74 48.48 58.69 74.35 48.55 50.85
Inventory Days 60.1 61.04 59.85 61.97 56.13 42.54 51.89 66.51 42.82 39.56
Payable days 44.82 46.01 50.81 70.89 70.37 50.81 76.87 104.87 65.12 59.51
PER(x) 9.74 11.83 16.9 20.5 26.63 16.26 11.1 12.9 11.45 17.61
Price/Book(x) 1.45 1.76 1.73 1.61 1.86 1.71 0.99 1.19 1.99 2.44
Dividend Yield(%) 5.14 3.95 3.9 3.56 2.84 3.43 6.43 5.95 5.73 5.66
EV/Net Sales(x) 0.68 0.89 0.9 0.84 1.05 0.84 0.47 0.7 0.98 1.24
EV/Core EBITDA(x) 4.26 5.27 6.85 8.54 10.98 7.81 4.73 5.27 6.2 8.67
Net Sales Growth(%) 0 -0.96 2.79 2.36 3.75 22.62 -4.98 -15.6 40.16 2.22
EBIT Growth(%) 0 1.68 -22.07 -31.92 5.09 49.55 -14.47 17.96 78.17 -9.28
PAT Growth(%) 0 6.94 -28.95 -22.58 -3.47 58.13 -19.65 13.7 112.45 -17.67
EPS Growth(%) 0 6.94 -28.95 -22.58 -3.47 58.13 -19.65 13.7 112.45 -17.68
Debt/Equity(x) 0.02 0.02 0.01 0 0.02 0.03 0.06 0.02 0 0
Current Ratio(x) 3.36 2.98 2.9 2.94 3.7 3.73 2.59 3.31 3.58 4.23
Quick Ratio(x) 2.39 2.21 2.16 2.2 2.89 2.98 1.84 2.51 2.89 3.43
Interest Cover(x) 115.59 105.16 103.8 30.29 44.56 45.03 22.27 46.69 85.57 97.04
Total Debt/Mcap(x) 0.02 0.01 0.01 0 0.01 0.02 0.06 0.01 0 0

Ador Fontech Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 39.23 39.23 39.23 39.23 39.23 39.23 39.23 39.23 39.23 39.23
FII 0.25 0.25 0.19 0.19 0.19 0.19 0.23 0.19 0.19 0.19
DII 0 0 0 0 0 0 0 0 0 0
Public 60.52 60.52 60.58 60.58 60.58 60.58 60.55 60.58 60.58 60.58
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 65.12 to 59.51days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 39.23%.
  • Company has a low return on equity of 14% over the last 3 years.
  • Stock is trading at 3.8 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Ador Fontech News

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