Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Indian Accounting Research Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Forensic Accounting

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ador-welding-ltd" target="_blank" data-smartkarma-citation="entities:16231:1" rel="noopener">Ador Welding (AWL IN)</a> is a renowned player in the business of manufacturing and trading of welding and related products.  </li>
<li>The company sells welding consumables, equipments and also does preoject-engineering. While the company has seen recent growth in topline, there are few forensic checks that one must be cautious about.</li>
<li>This relates to accounting policy relating to Flares segment, lack of conservatism relating to ECL provisioning and depreciation, troubles in generating cash, etc.</li>
</ul>



Ador Welding (AWL IN) is a renowned player in the business of manufacturing and trading of welding and related products.  
The company sells welding consumables, equipments and also does preoject-engineering. While the company has seen recent growth in topline, there are few forensic checks that one must be cautious about.
This relates to accounting policy relating to Flares segment, lack of conservatism relating to ECL provisioning and depreciation, troubles in generating cash, etc.


India

Esab India Limited manufactures welding and cutting equipment, accessories and systems, flux-cored/tubular wires, submerged arc welding fluxes, gas cylinder valves, and other related products.

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Esab India Ltd (ESAB IN)

Ador Weldings Ltd- Forensic Analysis

Renowned player Ador Welding (AWL IN) sees growth in sales of welding products, but has concerns over cash output, receivable provisioning and few...

Nitin Mangal

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52-week Range

Market Cap (USDm)

P/E

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Ador Weldings Ltd- Forensic Analysis

​Renowned player Ador Welding (AWL IN) sees growth in sales of welding products, but has concerns over cash output, receivable provisioning and few...

Nitin Mangal

Renowned player Ador Welding (AWL IN) sees growth in sales of welding products, but has concerns over cash output, receivable provisioning and few...