Astral Ltd

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Astral Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Astral Ltd

₹ 1,392 -0.20%
24 Sep - close price
astralpipes.com BSE: 532830 NSE: ASTRAL F&O
About

Astral Poly Technik Ltd was established in 1996, with the aim to manufacture pro-India plumbing and drainage systems in the country. The company is into manufacturing of Pipes, water tanks, bathware, specialised valves, paints, adhesives and sealants, infrastructure solutions, specialised fittings and construction chemicals.[1]

Key Points

Business Segments:
a) Plumbing (71% in FY26 vs 73% in FY24): [1]
The company offers PVC, CPVC and lead-free PVC plumbing systems and fittings including drainage systems, agriculture systems, fire sprinkler systems, Industrial and urban infrastructure piping systems, specialized fittings, water tanks, cable protection system etc.
It is among India's leading players in the high-margin CPVC pipes and fittings business.[2]
b) Paints and Adhesives (29% in FY26 vs 27% in FY24):
The company offers adhesives, sealants, specialized valves, construction chemicals,
and other infrastructure products. It also offers
a range of paints including Interior Emulsion, Exterior Emulsion, Primers, Putty bags Wall putty, Stainers & Colorants, etc under the Astral Paints brand. The company has also entered the D2C segment with DIY segment with brand name BondTite and BondCraft.[3] The company also offers flooring solutions like waterproffing, grouting etc.
c) Bathware:
The company has started manufacturing
for bathware as well. It manufactures premium
as well as mid-range toilet seats, wash basins, faucets and premium range diverters and body jets.[4]
The segment delivered 27.3% sales growth in FY26. [5]

Website BSE NSE F&O
  • Market Cap ₹ 37,329 Cr.
  • Current Price ₹ 1,392
  • High / Low ₹ 1,769 / 1,312
  • Stock P/E 63.0
  • Book Value ₹ 151
  • Dividend Yield 0.29 %
  • ROCE 19.2 %
  • ROE 13.8 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company's working capital requirements have reduced from 17.4 days to 11.0 days

Cons

  • Stock is trading at 9.22 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
1,283 1,363 1,370 1,625 1,384 1,370 1,397 1,681 1,361 1,577 1,542 2,088 1,578
1,082 1,143 1,165 1,334 1,169 1,160 1,178 1,380 1,176 1,321 1,304 1,706 1,347
Operating Profit 202 220 205 291 214 210 219 302 185 257 237 383 231
OPM % 16% 16% 15% 18% 16% 15% 16% 18% 14% 16% 15% 18% 15%
12 13 6 10 12 9 12 9 9 11 -7 11 13
Interest 6 8 8 8 8 10 14 10 12 16 13 24 6
Depreciation 46 49 50 52 56 60 63 65 72 72 73 74 75
Profit before tax 162 177 154 241 163 149 154 236 110 180 144 297 163
Tax % 26% 26% 26% 25% 27% 27% 27% 25% 28% 25% 25% 28% 26%
119 132 113 181 120 109 113 178 79 135 108 213 120
EPS in Rs 4.46 4.88 4.23 6.76 4.48 4.09 4.25 6.67 3.02 5.02 4.01 7.93 4.47
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
1,410 1,678 1,895 2,073 2,507 2,578 3,176 4,394 5,158 5,641 5,832 6,569 6,785
1,242 1,470 1,633 1,759 2,126 2,136 2,539 3,640 4,349 4,717 4,886 5,507 5,677
Operating Profit 168 208 261 314 382 442 638 754 810 925 946 1,062 1,108
OPM % 12% 12% 14% 15% 15% 17% 20% 17% 16% 16% 16% 16% 16%
3 -4 8 13 15 11 25 35 37 36 41 25 28
Interest 25 30 18 22 32 39 13 13 40 29 41 64 58
Depreciation 36 42 50 57 81 108 116 127 178 198 243 292 295
Profit before tax 110 132 201 248 283 306 533 648 628 734 702 731 784
Tax % 29% 22% 28% 29% 30% 18% 23% 24% 25% 26% 26% 27%
78 102 145 176 197 250 408 490 472 546 519 535 576
EPS in Rs 2.89 3.79 5.44 6.58 7.36 9.25 15.10 18.06 17.00 20.33 19.50 19.97 21.43
Dividend Payout % 6% 5% 5% 4% 4% 6% 10% 12% 21% 18% 19% 13%
Compounded Sales Growth
10 Years: 15%
5 Years: 16%
3 Years: 8%
TTM: 17%
Compounded Profit Growth
10 Years: 18%
5 Years: 6%
3 Years: 6%
TTM: 22%
Stock Price CAGR
10 Years: 22%
5 Years: -3%
3 Years: -9%
1 Year: -3%
Return on Equity
10 Years: 18%
5 Years: 17%
3 Years: 15%
Last Year: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 12 12 12 12 12 15 20 20 27 27 27 27
Reserves 607 696 835 1,006 1,266 1,488 1,876 2,316 2,684 3,161 3,590 4,031
203 197 229 189 275 191 80 98 87 119 233 250
344 397 386 468 546 595 697 952 1,564 1,188 1,198 1,481
Total Liabilities 1,165 1,301 1,462 1,675 2,099 2,289 2,673 3,387 4,362 4,496 5,048 5,789
557 645 741 842 1,105 1,255 1,314 1,496 1,950 2,299 2,712 2,939
CWIP 27 15 25 73 81 44 57 123 126 151 116 94
Investments 0 0 0 0 0 0 0 0 0 0 0 0
582 641 695 759 913 990 1,302 1,768 2,286 2,046 2,220 2,755
Total Assets 1,165 1,301 1,462 1,675 2,099 2,289 2,673 3,387 4,362 4,496 5,048 5,789

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
117 226 114 282 342 405 664 543 557 823 630 1,117
-343 -203 -158 -185 -291 -318 -454 72 -478 -541 -513 -506
237 16 12 -71 -5 -163 -153 -44 -191 -202 -118 -328
Net Cash Flow 11 38 -32 25 46 -75 57 571 -112 80 -1 282
Free Cash Flow 32 91 -45 98 122 192 493 198 247 273 90 661
CFO/OP 85% 123% 60% 110% 110% 110% 122% 94% 89% 108% 85% 123%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 60 49 65 54 49 32 32 22 25 24 27 26
Inventory Days 92 84 76 94 88 124 88 91 96 100 109 107
Days Payable 93 96 80 92 86 109 96 93 88 95 92 110
Cash Conversion Cycle 60 38 61 56 51 47 23 20 33 29 44 23
Working Capital Days 64 30 39 37 27 42 12 13 17 16 25 11
ROCE % 21% 18% 22% 23% 23% 21% 29% 29% 24% 23% 20% 19%

Insights

In beta
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Plumbing Business Installed Capacity
Thousand MT

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Plumbing Business Sales Volume
Thousand MT
Plumbing Business Production Volume
Thousand MT
Total Group Production Capacity
M.T. PA
Number of Dealers
count
Number of Distributors
count
Number of Manufacturing Units
count
Total SKUs (Product Portfolio Breadth)
count

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Shareholding Pattern

Numbers in percentages

6 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
55.85% 54.10% 54.10% 54.10% 54.10% 54.10% 54.10% 54.10% 54.21% 54.22% 54.22% 54.22%
18.50% 19.79% 21.22% 22.48% 22.32% 21.07% 20.17% 20.15% 16.61% 15.21% 14.50% 13.89%
13.21% 13.66% 12.85% 12.45% 12.48% 13.76% 14.60% 14.71% 17.49% 19.19% 20.92% 20.93%
0.00% 0.00% 0.00% 0.00% 0.00% 0.15% 0.15% 0.20% 0.30% 0.34% 0.37% 0.37%
12.44% 12.44% 11.81% 10.96% 11.11% 10.90% 10.97% 10.85% 11.38% 11.03% 9.99% 10.59%
No. of Shareholders 2,95,4562,93,6022,85,6882,62,0502,93,9112,97,5273,09,7142,98,4562,97,5822,79,7262,58,4412,64,925

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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