Moneycontrol PRO
Open App

Buy Ador Welding; target of Rs 890: ICICI Direct

ICICI Direct is bullish on Ador Welding has recommended buy rating on the stock with a target price of Rs 890 in its research report dated June 08, 2022.

June 09, 2022 / 03:55 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

ICICI Direct's research report on Ador Welding


Ador Welding (AWL) is a leading player in the welding consumables (~19% market share), welding equipment, automation and projects business. Welding consumables contributed ~81% of revenue in FY22. AWL is expected to continue strong RoCE, positive free cash flow trajectory in consumables in comings years despite a challenging environment • Aims to reduce legacy costs in projects business to improve return ratios.



Outlook


Considering strong growth outlook, margin revival, we maintain BUY rating. We value AWL at Rs 890 i.e. 18x P/E on FY24E EPS.


For all recommendations report, click here

Close

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.


Broker Research
first published: Jun 9, 2022 03:55 pm
Sections
ISO 27001 - BSI Assurance Mark