Meeting Details

The 73rd AGM of Ador Welding Limited was held on Thursday, 23rd July 2026, from 11:30 AM IST to 12:31 PM IST. The meeting was conducted entirely through electronic video conferencing (VC) mode in compliance with circulars from the Ministry of Corporate Affairs (MCA) and SEBI.

Attendance

A total of 92 members were present via VC, comprising:

  • 12 Promoters & Members of Promoter group
  • 78 Public Shareholders
  • 01 Corporate Representative from Promoter Group (holding 78,71,370 shares)
  • 01 Corporate Representative from Public (holding 3,240 shares)

The Company's Statutory Auditors and Secretarial Auditors were also present.

Voting Arrangements

The company engaged National Securities Depositories Limited (NSDL) to facilitate remote e-voting and e-voting at the AGM. The remote e-voting period was from 09:00 AM IST on Monday, 20th July 2026, to 05:00 PM IST on Wednesday, 22nd July 2026. CS Hemanshu Kapadia of Hemanshu Kapadia & Associates was appointed as the Scrutinizer to oversee the voting process.

Business Transacted

The following eight resolutions, as set out in the notice dated 29th April 2026, were put to vote:

Ordinary Business:

1. Adoption of Audited Standalone Financial Statements for FY ended 31st March 2026.

2. Adoption of Audited Consolidated Financial Statements for FY ended 31st March 2026.

3. Declaration of dividend on equity shares for FY ended 31st March 2026.

4. Re-appointment of Mr. Ravin A. Mirchandani (DIN: 00175501), who retired by rotation.

5. Ratification of remuneration payable to M/s. Kishore Bhatia & Associates as Cost Auditor for FY 2026-27.

Special Business:

6. Re-appointment of Mr. Aditya T. Malkani (DIN: 01585637) as Managing Director.

7. Approval of payment of remuneration to the Executive Director (Promoter/Member of promoter group) per SEBI LODR Regulation 17(6)(e).

8. Approval for payment of remuneration by way of commission to the Non-Executive Directors.

The detailed voting results and the Scrutinizer's Report were to be submitted to the stock exchanges and uploaded on the company's website subsequently.

Chairman's Speech Key Highlights

Mrs. Ninotchka Malkani Nagpal, Executive Chairman, delivered the address, highlighting the following:

Financial Performance for FY26 (F26):

  • The company delivered a resilient performance with improved profitability despite global uncertainties (conflict in West Asia, Russia-Ukraine war, persistent inflation).
  • EBITDA rose to over ₹133 crore.
  • Profit Before Tax (PBT) was nearly ₹111 crore.
  • Profit After Tax (PAT) was ₹83 crore.
  • The company remains virtually debt-free.
  • The Board recommended a dividend of ₹23 per equity share (230%) – the highest in the company's history.

Operational and Strategic Review:

  • The Welding Business delivered stable performance and strengthened technology leadership.
  • The Automation business had an excellent year, expanding into Robotic Automation with encouraging response from automotive, infrastructure, and heavy engineering sectors.
  • Effective 1st April 2026, the Services segment was aligned with the Maintenance & Reclamation division. From the quarter ending June 2026, the company will report under a single segment.

Innovation and Awards:

  • Launched a robotic power source and a solar-powered battery welder.
  • Granted a patent for RHINO-E, India's first battery-powered welder, with 20 claims of novelty.
  • Honored with the CII Industrial Innovation Award (one of 100 companies nationally).

Training and CSR:

  • Training Division accredited by the International Institute of Welding.
  • Launched a women's welding programme with Mahindra & Mahindra; trained 892 candidates.
  • CSR contribution of ₹219.89 lakh through the Ador Foundation towards women's empowerment, education, healthcare, and hunger relief.

Outlook for FY27 (F27):

  • Optimism supported by India's projected GDP growth of 6.5–6.8% and expected steel industry growth of 8–10% year-on-year.
  • Continued investment in highways, railways, metros, and energy under initiatives like PM Gati Shakti to support welding demand.
  • The new Flux Cored Wire line is expected to contribute more meaningfully, improving product quality and cost competitiveness.
  • Management priorities: cash flow discipline, supply chain resilience, automation-led productivity, new strategic partnerships, and geographic expansion.

Q&A Session

Shareholders raised queries regarding future business, market, R&D, manufacturing, quality, company performance, and the ESOP Scheme. These were addressed by Mrs. Ninotchka Malkani Nagpal (Executive Chairman) and Mr. A. T. Malkani (Managing Director) to the satisfaction of the attendees.

#Tags: #AdorWelding #AGM #SEBIDisclosure #Dividend #RegulatoryCompliance #FinancialUpdate #Positive