Ador Welding Ltd — earnings calls

Ador Welding reported Q4 revenue growth of approximately 3% and EBITDA of approximately INR38 crores, up 200 bps, with gross margin at 36% and PBT of approximately INR39 crores, excluding the Kuwait project recovery and exceptional items. For the full year, standalone revenue grew about 2% with gross margins at 38%, up about 250 bps, EBITDA margin at 12%, and PBT of approximately INR130 crores excluding the onerous Uran project cost. Management discussed the realignment of the Flares and Process Equipment division into the welding segment, a partnership with Miller for submerged arc welding products, and continued investment in automation, robotics and new product approvals.