R E V I E W
Dear Shareholders,
We were badly affected by COVID – 19 during March 2020, which dented our dream of
reaching close to Rs. 575 Crore Sales during FY 2019-20. Inspite of recession in HY1 of
last Financial Year and COVID – 19 Pandemic impact, I am delighted to inform you that
the Company has achieved turnover of Rs. 536 Crores in FY 2019-20. This is the highest
ever revenue in the history of the Company. We continued with our culture of
"Innovation" across the Company & mantra for growth "Move Fast Break
Barriers" during the year. This has helped us to achieve "Customers
delight" by providing complete solution for their welding & cutting processes.
Our focus continued to improve brand value and enhance the "TRUST" factor
with the Customer & other stakeholders.
During the year, we were awarded "National Best Employer Brand 2019", by
"ET Now", One of the most prestigious recognitions in the corporate world.
Entire Company is focussed to improve its brand value and enhance the "TRUST" of
its customers & other stakeholders in "Ador Welding Ltd."
FY 2019-20 Performance
Up to Feb 2020, for 11 months of the financial year we were growing on all parameters
such as Sales, PBT, EBIDTA, etc. over last FY. However COVID – 19 impacted business
in March hence during FY 2019-20 our net operating revenue grew by around 2.65%, which
further strengthened our industrial leadership.
Research & Development
Our R & D continues to develop new products & solutions using local resources
including brain power. We have more than 50 design engineers from IITs, reputed technical
Institutes of India, engaged in developing new cost effective solutions or improving
offerings in the existing product range. Our NABL & DSIR approved facilities are
offering new products, majorly for addressing the needs & requirements of Railways,
Defence, Infrastructure and Oil & Gas sectors during the last Financial Year. Some of
the Equipments developed by us will help govt & public sector companies save on the
foreign exchange, as these equipments were imported previously as no Indian manufacturers
had these equipments manufactured locally.
Ador Welding Academy (AWA)
Recession during the year affected the intake at the academy. AWA, a skill development
arm of Ador Welding Limited has trained about 628 welding professionals during last year.
It also trained about 80 students from economically weaker (BPL) sections of the society
& suitably placed them in 9 companies across India. Many small, medium and few large
companies supported the skill development of economically weaker (BPL) students with their
CSR funds. AWA has trained welding professionals from various industries such as Railways,
Automotive, Oil & Gas and Infrastructure. Total 43 companies used AWA facility to
train their employees during the year.
Ador Vision
We have dream of achieving four figures Sales in next 4-5 years. We continue to aim to
be the "Best-in-Class" Enterprise, synonymous with our urge for continuous
innovation in welding products & solutions, to mark significant growth in FY 2020-21,
not withstanding the economic environment and market conditions. We will also continue to
focus on sustaining the initiatives taken over the past few years, in addition to / such
as the following:
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Customers"
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"TRUST" of our Customers & other stake holders in "Ador
Welding"
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new products & services across domestic & overseas markets.
_ ,PELEH_LQQRYDWLRQ_FXOWXUH_ _LPSOHPHQW_DGYDQFH_ lean manufacturing processes to
maximize efficiency & achieve Zero Defect with Zero Waste effect on environment.
_ /HDUQLQJ_ _JURZWK_RSSRUWXQLWLHV_IRU_DOO_$GRULDQV_WR_ drive organisational
performance.
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_ &RQWLQXRXVO\_ LPSURYH_ ILQDQFLDO_ SDUDPHWHUV_ bench marking best in Class
Companies.
Closing Thoughts
Recession in HY1 & COVID – 19 has impacted our Financial performance during FY
2019-20 but not our dreams of continuous growth. Every Adorian is committed to it. Every
successful organisation reaches at its peak not only due to its robust processes but its
robust workforce. Thus, I would like to express my sincere gratitude towards all my
talented "Adorians", who contributed enormously to take Ador Welding Ltd. where
it is today and enabled us to turn our vision into reality! I request your continued
support and
LQYROYHPHQW_LQ_WKH_&RPSDQ\V_MRXUQH\_LQ_DFKLHYLQJ_LWV_ long term objectives. In
order to enable us succeed in this endeavour, we ensure a safe, healthy and secured
working environment and engrave the same in our culture through unremitting sensitization.
The
VWURQJHVW_SLOODUV_RI_$:/V_VXFFHVV_DUH_RXU_YDOXDEOH_OR\DO_ customers and credibility
of suppliers. Our "Trust" in each other, continues to be the very basis of our
long term relation and existence in this dynamic business world. We have maintained
enhanced levels of corporate governance and ethical standards across our organisation.
Corporate Social Responsibility (CSR) is engaging us in the field of education, vocational
training, skill development, hygiene and catering to development of the society at large,
primarily in areas around our factory locations. Our relentless efforts to meet our
customer needs & delight will continue, with the help of diversified expertise
available in our organisation. Last but not the least, I truly appreciate our Board of
Directors & the Management Team and their constant invaluable support, in terms of
rendering direction and their commitment.
Best Wishes,
satish m. bhat