R E V I E W
We were badly affected by COVID 19 during March 2020 which dented our dream ofreaching close to Rs. 575 Crore Sales during FY 2019-20. Inspite of recession in HY1 oflast Financial Year and COVID 19 Pandemic impact I am delighted to inform you thatthe Company has achieved turnover of Rs. 536 Crores in FY 2019-20. This is the highestever revenue in the history of the Company. We continued with our culture of"Innovation" across the Company & mantra for growth "Move Fast BreakBarriers" during the year. This has helped us to achieve "Customersdelight" by providing complete solution for their welding & cutting processes.
Our focus continued to improve brand value and enhance the "TRUST" factorwith 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" ofits 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 parameterssuch as Sales PBT EBIDTA etc. over last FY. However COVID 19 impacted businessin March hence during FY 2019-20 our net operating revenue grew by around 2.65% whichfurther strengthened our industrial leadership.
Research & Development
Our R & D continues to develop new products & solutions using local resourcesincluding brain power. We have more than 50 design engineers from IITs reputed technicalInstitutes of India engaged in developing new cost effective solutions or improvingofferings in the existing product range. Our NABL & DSIR approved facilities areoffering new products majorly for addressing the needs & requirements of RailwaysDefence Infrastructure and Oil & Gas sectors during the last Financial Year. Some ofthe Equipments developed by us will help govt & public sector companies save on theforeign exchange as these equipments were imported previously as no Indian manufacturershad these equipments manufactured locally.
Ador Welding Academy (AWA)
Recession during the year affected the intake at the academy. AWA a skill developmentarm 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 largecompanies supported the skill development of economically weaker (BPL) students with theirCSR funds. AWA has trained welding professionals from various industries such as RailwaysAutomotive Oil & Gas and Infrastructure. Total 43 companies used AWA facility totrain their employees during the year.
We have dream of achieving four figures Sales in next 4-5 years. We continue to aim tobe the "Best-in-Class" Enterprise synonymous with our urge for continuousinnovation in welding products & solutions to mark significant growth in FY 2020-21not withstanding the economic environment and market conditions. We will also continue tofocus on sustaining the initiatives taken over the past few years in addition to / suchas the following:
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"TRUST" of our Customers & other stake holders in "AdorWelding"
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Recession in HY1 & COVID 19 has impacted our Financial performance during FY2019-20 but not our dreams of continuous growth. Every Adorian is committed to it. Everysuccessful organisation reaches at its peak not only due to its robust processes but itsrobust workforce. Thus I would like to express my sincere gratitude towards all mytalented "Adorians" who contributed enormously to take Ador Welding Ltd. whereit is today and enabled us to turn our vision into reality! I request your continuedsupport and
LQYROYHPHQW_LQ_WKH_&RPSDQ\V_MRXUQH\_LQ_DFKLHYLQJ_LWV_ long term objectives. Inorder to enable us succeed in this endeavour we ensure a safe healthy and securedworking environment and engrave the same in our culture through unremitting sensitization.The
VWURQJHVW_SLOODUV_RI_$:/V_VXFFHVV_DUH_RXU_YDOXDEOH_OR\DO_ customers and credibilityof suppliers. Our "Trust" in each other continues to be the very basis of ourlong term relation and existence in this dynamic business world. We have maintainedenhanced levels of corporate governance and ethical standards across our organisation.Corporate Social Responsibility (CSR) is engaging us in the field of education vocationaltraining skill development hygiene and catering to development of the society at largeprimarily in areas around our factory locations. Our relentless efforts to meet ourcustomer needs & delight will continue with the help of diversified expertiseavailable in our organisation. Last but not the least I truly appreciate our Board ofDirectors & the Management Team and their constant invaluable support in terms ofrendering direction and their commitment.
satish m. bhat