Astral Ltd
Astral Poly Technik Ltd was established in 1996, with the aim to manufacture pro-India plumbing and drainage systems in the country. It has also forayed into adhesive business over years. [1]
- Market Cap ₹ 39,340 Cr.
- Current Price ₹ 1,465
- High / Low ₹ 1,870 / 1,232
- Stock P/E 73.6
- Book Value ₹ 134
- Dividend Yield 0.26 %
- ROCE 22.3 %
- ROE 16.4 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 19.0%
Cons
- Stock is trading at 10.9 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Plastic Products - Industrial
Part of BSE 500 BSE Capital Goods BSE 200 BSE Dollex 200 Nifty 500
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,050 | 1,235 | 1,318 | 1,477 | 1,582 | 1,916 | 2,043 | 2,486 | 4,061 | 4,612 | 5,103 | 5,296 | 5,250 | |
| 899 | 1,085 | 1,152 | 1,270 | 1,345 | 1,612 | 1,672 | 1,952 | 3,352 | 3,860 | 4,224 | 4,359 | 4,343 | |
| Operating Profit | 151 | 151 | 166 | 207 | 237 | 304 | 370 | 535 | 709 | 752 | 879 | 937 | 907 |
| OPM % | 14% | 12% | 13% | 14% | 15% | 16% | 18% | 22% | 17% | 16% | 17% | 18% | 17% |
| 2 | 2 | 1 | 8 | 8 | 9 | 8 | 8 | 31 | 20 | 33 | 44 | 48 | |
| Interest | 30 | 23 | 28 | 14 | 17 | 28 | 34 | 8 | 10 | 33 | 21 | 31 | 34 |
| Depreciation | 21 | 33 | 35 | 42 | 47 | 67 | 90 | 96 | 116 | 137 | 156 | 192 | 204 |
| Profit before tax | 101 | 97 | 104 | 159 | 181 | 218 | 254 | 439 | 614 | 601 | 735 | 759 | 717 |
| Tax % | 24% | 29% | 30% | 33% | 34% | 35% | 21% | 26% | 25% | 25% | 25% | 25% | |
| 77 | 69 | 73 | 107 | 119 | 141 | 201 | 327 | 462 | 448 | 550 | 566 | 535 | |
| EPS in Rs | 1.24 | 2.62 | 2.74 | 4.01 | 4.47 | 5.31 | 7.50 | 12.20 | 17.23 | 16.67 | 20.49 | 21.08 | 19.91 |
| Dividend Payout % | 5% | 6% | 7% | 6% | 6% | 6% | 8% | 12% | 13% | 21% | 18% | 18% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 21% |
| 3 Years: | 9% |
| TTM: | 1% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 22% |
| 3 Years: | 6% |
| TTM: | -4% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 18% |
| 3 Years: | -1% |
| 1 Year: | -16% |
| Return on Equity | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 19% |
| 3 Years: | 18% |
| Last Year: | 16% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 12 | 12 | 12 | 12 | 12 | 15 | 20 | 20 | 27 | 27 | 27 |
| Reserves | 304 | 601 | 720 | 824 | 937 | 1,142 | 1,317 | 1,625 | 2,271 | 2,652 | 3,103 | 3,569 |
| 136 | 161 | 170 | 172 | 116 | 196 | 122 | 29 | 35 | 10 | 49 | 113 | |
| 232 | 278 | 322 | 308 | 367 | 435 | 488 | 548 | 850 | 899 | 1,033 | 1,045 | |
| Total Liabilities | 684 | 1,052 | 1,224 | 1,317 | 1,431 | 1,785 | 1,942 | 2,222 | 3,176 | 3,588 | 4,212 | 4,754 |
| 278 | 285 | 361 | 409 | 449 | 686 | 822 | 875 | 1,388 | 1,531 | 1,896 | 2,265 | |
| CWIP | 3 | 21 | 8 | 17 | 65 | 78 | 43 | 52 | 123 | 126 | 146 | 96 |
| Investments | 11 | 271 | 336 | 336 | 338 | 340 | 339 | 334 | 45 | 287 | 371 | 371 |
| 392 | 474 | 519 | 554 | 580 | 682 | 738 | 962 | 1,620 | 1,643 | 1,799 | 2,022 | |
| Total Assets | 684 | 1,052 | 1,224 | 1,317 | 1,431 | 1,785 | 1,942 | 2,222 | 3,176 | 3,588 | 4,212 | 4,754 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 81 | 84 | 186 | 87 | 231 | 289 | 339 | 515 | 537 | 486 | 788 | 620 | |
| -85 | -322 | -175 | -104 | -124 | -266 | -241 | -350 | 87 | -598 | -517 | -511 | |
| -7 | 244 | 27 | -14 | -84 | -7 | -141 | -116 | -56 | -121 | -99 | -95 | |
| Net Cash Flow | -10 | 6 | 39 | -31 | 23 | 15 | -42 | 48 | 568 | -232 | 173 | 14 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 50 | 56 | 50 | 66 | 51 | 43 | 25 | 26 | 18 | 19 | 19 | 22 |
| Inventory Days | 89 | 80 | 80 | 68 | 89 | 85 | 119 | 85 | 89 | 94 | 97 | 105 |
| Days Payable | 85 | 91 | 101 | 84 | 95 | 92 | 115 | 98 | 94 | 90 | 97 | 94 |
| Cash Conversion Cycle | 53 | 45 | 29 | 50 | 45 | 36 | 29 | 13 | 12 | 23 | 18 | 33 |
| Working Capital Days | 34 | 42 | 26 | 39 | 30 | 18 | 23 | 7 | 11 | 22 | 10 | 20 |
| ROCE % | 33% | 20% | 16% | 18% | 19% | 21% | 21% | 29% | 31% | 25% | 25% | 22% |
Documents
Announcements
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Board Meeting Intimation for To Consider And Approve The Unaudited Financial Results (Standalone And Consolidated) Of The Company For The Second Quarter And Half Year Ended 30Th September, 2025 And Declaration Of Interim Dividend For The Financial Year 2025-26, If Any.
2d - Board meeting 5 Nov 2025 to approve Q2/H1 results; interim dividend consideration
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
10 Oct - RTA confirms dematerialisation, cancellation and listing of securities for quarter ended 30 Sep 2025.
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 6 Oct
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The Company Has Started Commercial Production At Kanpur Plant
6 Oct - Astral's Kanpur plant commenced commercial production on 6 October 2025.
- Closure of Trading Window 25 Sep
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Concalls
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Aug 2025TranscriptPPTREC
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May 2025Transcript PPT
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Nov 2024TranscriptPPTREC
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May 2023Transcript PPT
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May 2022TranscriptNotesPPT
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Nov 2021TranscriptPPT
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May 2021Transcript PPT
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Nov 2020TranscriptPPT
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Oct 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Nov 2016TranscriptPPT
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Aug 2016TranscriptPPT
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Feb 2016TranscriptPPT
Business Segments
1) Plumbing (72% in 9M FY25 vs 77% in FY22): [1] [2] The company offers PVC, CPVC and lead-free PVC plumbing systems and fittings including drainage systems, agriculture systems, fire sprinkler systems, electrical conduit pipes, bath-ware, water tanks, etc. [3] It is among India's leading players in the high-margin CPVC pipes and fittings business. The segment revenue grew by 23% between FY22-FY24, driven by a 47% growth in sales volumes, partially offset by a 16% average sales realization decline followed by a decline in raw material prices. [4]