Ador Welding Limited (AWL), one of the leading players in the welding consumables & equipment space & having a market share of ~23% in the welding consumables space has reported numbers which are in line with our expectations.
Net Revenues grew 19.1% at Rs 57.9 crore
Net revenues for the quarter ended June 2010 grew 19.1% to Rs 57.9 crore as against Rs 48.6 crore registered during the correxponding period of the previous year. The growth was attributed by the welding equipment & project group segment which witnessed a surge of 36% in revenues at Rs 13.8 crore while the welding consumables segment which constituted 76% of the total revenues grew nearly 15% at Rs 44.1 crore.