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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
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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.


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


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first published: Jun 9, 2022 03:55 pm
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