Astral Ltd

About

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]

Key Points

Piping Division (77% of revenues) [1]
This is the main business of the company, it manufactures pipes and fittings for plumbing, sewerage, agriculture, industries, fire sprinklers. It also manufactures pipes for conduit & cable protection, ancillary products, urban infra and ducting. [2]

See full details
  • Market Cap 42,689 Cr.
  • Current Price 2,125
  • High / Low 2,294 / 808
  • Stock P/E 93.1
  • Book Value 94.4
  • Dividend Yield 0.08 %
  • ROCE 29.5 %
  • ROE 23.6 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 31.83% CAGR over last 5 years
  • Company's median sales growth is 20.95% of last 10 years

Cons

  • Stock is trading at 22.52 times its book value
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
625 630 775 607 678 664 629 404 747 898 1,128 700
532 536 659 514 560 546 517 351 608 707 874 571
Operating Profit 94 94 116 93 119 118 112 53 139 191 254 129
OPM % 15% 15% 15% 15% 18% 18% 18% 13% 19% 21% 23% 18%
Other Income 4 4 4 7 3 2 0 4 5 8 5 4
Interest 14 1 6 7 9 5 18 6 -1 4 1 5
Depreciation 21 22 22 24 27 27 29 28 29 30 29 31
Profit before tax 64 75 92 68 86 87 65 23 116 165 229 98
Tax % 29% 30% 32% 30% 4% 22% 21% 11% 24% 25% 23% 24%
Net Profit 44 52 62 47 82 68 51 20 87 123 175 74
EPS in Rs 2.23 2.60 3.12 2.34 4.09 3.36 2.54 0.99 4.32 6.13 8.69 3.68

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
281 402 565 802 1,057 1,410 1,678 1,895 2,073 2,507 2,578 3,176 3,472
239 346 482 687 902 1,242 1,470 1,633 1,759 2,126 2,136 2,539 2,759
Operating Profit 42 55 83 115 155 168 208 261 314 382 442 638 714
OPM % 15% 14% 15% 14% 15% 12% 12% 14% 15% 15% 17% 20% 21%
Other Income 5 1 4 2 2 3 -4 8 13 15 11 25 22
Interest 5 4 23 19 31 25 30 18 22 32 39 13 8
Depreciation 9 11 14 18 22 36 42 50 57 81 108 116 119
Profit before tax 33 41 50 80 105 110 132 201 248 283 306 533 609
Tax % 17% 21% 21% 24% 24% 29% 22% 28% 29% 30% 18% 23%
Net Profit 28 33 39 61 79 76 101 145 175 196 248 404 458
EPS in Rs 1.47 1.75 2.10 3.22 4.20 3.85 5.06 7.25 8.77 9.81 12.34 20.13 22.82
Dividend Payout % 8% 8% 6% 5% 5% 6% 5% 5% 4% 4% 6% 10%
Compounded Sales Growth
10 Years:23%
5 Years:14%
3 Years:15%
TTM:46%
Compounded Profit Growth
10 Years:28%
5 Years:32%
3 Years:32%
TTM:108%
Stock Price CAGR
10 Years:58%
5 Years:53%
3 Years:53%
1 Year:158%
Return on Equity
10 Years:20%
5 Years:20%
3 Years:20%
Last Year:24%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
11 11 11 11 11 12 12 12 12 12 15 20
Reserves 106 136 173 230 304 607 696 835 1,006 1,193 1,488 1,876
Borrowings 41 48 94 92 142 203 197 229 189 275 191 80
102 135 202 211 237 344 397 386 468 618 595 697
Total Liabilities 261 330 480 544 694 1,165 1,301 1,462 1,675 2,099 2,289 2,673
92 109 164 215 289 557 645 741 842 1,105 1,255 1,314
CWIP 6 13 13 12 8 27 15 25 73 81 44 57
Investments 0 0 0 0 0 0 0 0 0 0 0 0
163 209 303 317 397 582 641 695 759 913 990 1,302
Total Assets 261 330 480 544 694 1,165 1,301 1,462 1,675 2,099 2,289 2,673

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
24 48 85 65 67 117 226 114 282 342 405 664
-18 -38 -68 -67 -91 -343 -203 -158 -185 -291 -318 -454
-5 -5 8 -22 13 237 16 12 -71 -5 -163 -153
Net Cash Flow 2 6 25 -24 -11 11 38 -32 25 46 -75 57

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 88 71 67 48 50 60 49 65 54 49 32 32
Inventory Days 128 108 113 95 92 92 84 76 94 88 124 88
Days Payable 93 65 64 48 36 33 37 51 92 86 109 96
Cash Conversion Cycle 123 113 115 95 107 119 97 90 56 51 47 23
Working Capital Days 75 54 41 44 56 64 44 60 49 43 42 18
ROCE % 26% 26% 30% 32% 34% 21% 19% 22% 23% 23% 22% 30%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
58.49 58.48 58.48 58.13 55.74 55.74 55.74 55.74 55.74 55.74 55.74 55.74
20.78 21.10 21.93 22.06 22.56 20.37 20.08 19.42 20.36 22.17 22.71 22.75
6.59 6.07 5.74 6.07 7.57 8.57 8.81 9.04 8.90 8.07 7.68 8.03
14.14 14.35 13.84 13.74 14.13 15.31 15.37 15.79 15.01 14.02 13.87 13.49

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