Accumulate ador welding

Ador Welding, established in 1951, is a leading welding company in India known for manufacturing top-quality welding equipment, consumables, and welding automation solutions. Over 30 years, Ador has excelled in the Flares & Process Equipment Division. Operating from three manufacturing plants - Chinchwad, Raipur, and Silvassa - the company boasts a robust distribution network with over 300 distributors serving more than 70 countries.
Ador Welding revolutionized the Indian market by providing high-quality welding products, eliminating the reliance on European imports post-independence. They prioritize customer satisfaction, timely delivery, and sharing welding expertise. With products tailored for various industries, Ador has expanded globally, focusing on innovation, customer feedback, and industry education. Their leadership is sustained by understanding strengths and meeting customer expectations, engaging directly with distributors and customers to ensure alignment with their needs.Forecasting a Compound Annual Growth Rate (CAGR) of approximately 10.8% during FY23-FY26E, driven by volume growth, the company is projected to reach a target price of Rs 1,806 by applying a Price-to-Earnings (PE) multiple of 28x to FY26E Earnings Per Share (EPS) of Rs 64.51, indicating a 20% upside from current levels. Therefore, an ACCUMULATE rating is recommended for medium to long-term investment perspectives.