Ador Welding Completes 73rd AGM; Reports Strong Profitability and Recommends Historic Dividend
Mumbai: The Members of Ador Welding Limited (AWL) held its 73rd Annual General Meeting (AGM) on Thursday, July 23, 2026. Conducted via the electronic mode of Video Conferencing (VC), the meeting saw the transaction of various business items and the review of the company’s performance for the Financial Year ended March 31, 2026.Mrs. Ninotchka Malkani Nagpal, Executive Chairman, chaired the proceedings. The meeting commenced at 11:30 AM (IST) and concluded at 12:31 PM (IST). Statutory Auditors and Secretarial Auditors were present during the AGM.
The meeting saw a significant attendance through VC, with 92 Members present. This included 12 Promoters and members of the Promoter group, 78 public shareholders, one Corporate Representative from the Promoter Group holding 78,71,370 shares, and one Corporate Representative from the Public holding 3,240 shares.
Financial Review and Key Decisions
The Chairman addressed attendees, highlighting that FY26 was a year marked by global uncertainties, yet the company delivered resilient performance and meaningfully improved profitability. The Welding Business remained a core pillar, supported by advancements in technology leadership and automation initiatives.Financial highlights for FY 2025-26 included:
- EBITDA rising to over Rs. 133 crore.
- Profit Before Tax reaching nearly Rs. 111 crore.
- Profit After Tax standing at Rs. 83 crore.
Ador Welding remains virtually debt-free, maintaining a strong balance sheet that supports future investment. In recognition of this performance, the Board recommended a dividend of Rs. 23 per equity share, which is noted as the highest in Ador’s history.
The company also announced a structural change effective April 1, 2026, aligning its Services segment with the Maintenance and Reclamation division. This consolidation will be reflected in the financial reports from the quarter ending June 2026 onwards under a single segment.
Resolutions Transacted at the AGM
Various Ordinary and Special Resolutions were transacted during the meeting, including the adoption of Financial Statements and director appointments/ratifications.The key resolutions transacted are summarized below:
| S R . NO. | Resolution Summary | Type | Voting Mode |
|---|---|---|---|
| 1 & 2 | To receive and adopt Audited Standalone and Consolidated Financial Statements for FY ended March 31, 2026. | Ordinary | Remote e-voting/AGM |
| 3 | To declare dividend on equity shares for the financial year ended March 31, 2026. | Ordinary | Remote e-voting/AGM |
| 4 | To appoint a director in place of Mr. Ravin A. Mirchandani, who retires by rotation. | Ordinary | Remote e-voting/AGM |
| 5 | Ratification of remuneration for M/s Kishore Bhatia & Associates, Cost Accountants, as the Cost Auditor for FY 2026-27. | Ordinary | Remote e-voting/AGM |
| 6 | Re-appointment of Mr. Aditya T. Malkani as Managing Director. | Special | Remote e-voting/AGM |
| 7 & 8 | Approval of remuneration payment for the Executive and Non-Executive Directors, respectively. | Special | Remote e-voting/AGM |
Focus on Innovation and Future Outlook
The Chairman expressed genuine optimism regarding FY27, citing India’s stable economic footing with GDP growth projected between 6.5% and 6.8%, alongside expected steel industry growth of 8% to 10%. Continued investment in high-growth areas such as highways, railways, metros, and energy provides strong demand drivers for welding.Ador Welding continues its commitment to innovation. Highlights include the launch of a robotic power source and a solarpowered battery welder. The company was honored with the CII Industrial Innovation Award. Additionally, RHINO-E, India’s first battery-powered welder, has been granted a patent featuring 20 claims of novelty.
The company's training division achieved accreditation from the International Institute of Welding. Furthermore, Ador contributed Rs. 219.89 lakh through the Ador Foundation toward women's empowerment, education, healthcare, and hunger relief.
The meeting concluded after the Chairman requested members who had not previously voted to do so during the final 15 minutes. Consolidated voting results will be announced within two working days of the AGM’s conclusion.
ADOR Stock Price Movement
Ador Welding Limited shares today slipped by 1.04% to settle at ₹1462.7, reflecting a slight decline in the post-market session. The stock traded a volume of 55,647 shares as it closed for the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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