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Astral Ltd

ASTRAL NSE

Key Fundamentals

MidcapPlastic Products - IndustrialIndustrial Products
Market Cap
₹40,980 Cr
Volatility
Moderate
P/E Ratio
70.93
EBITDA
₹1,109 Cr
Return on Equity
13.18%
Debt to Equity
0.06
Book Value
₹151
EPS
₹20.35
52W High
₹1,768.7
52W Low
₹1,284.4

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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41 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company's working capital requirements have reduced from 17.4 days to 11.0 days

Weaknesses

1
  • Stock is trading at 10.2 times its book value

Growth Rate

Revenue Growth
12.64% ↗
Net Income Growth
3.04% ↗
Cash Flow Change
77.41% ↗
ROE
-6.19% ↗
ROCE
-3.05% ↗
EBITDA Margin (Avg.)
-0.24% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk high

Astral Ltd is a nearly debt-free building materials company with a market cap of ~₹41,821 crore trading at a PE of 73.3x and 10.3x book value. The company delivered consolidated revenue of ₹6,569 crore in FY26 (up 12.6% YoY) with stable EBITDA margins of ~16.9%, while its 10-year sales CAGR stands at 15% and profit CAGR at 18%.

Bull Case 8
  • Almost debt-free balance sheet provides financial flexibility and insulates earnings from interest rate cycles
  • Dominant ~25% market share in India's organised CPVC pipe segment with consistent EBITDA margins of 16-17% across cycles
  • Q4 FY26 plumbing volume growth of 24.2% to 84,041 MT, significantly outpacing the broader PVC industry which saw ~10% demand decline
  • Paints business revenue grew 48.7% YoY in Q1 FY27 and reached EBITDA breakeven, validating the new segment's scaling potential
  • 10-year compounded sales CAGR of 15% and profit CAGR of 18% demonstrate a long track record of consistent growth
  • Working capital days reduced from 17.4 to 11.0 days, improving cash conversion efficiency
  • Consolidated FY26 revenue grew 12.6% to ₹6,569 crore with EBITDA of ₹1,109 crore (up 12.4%), showing operating leverage
  • Adhesives segment posted 24.9% sales growth in Q1 FY27, adding diversification beyond the core pipes business
Bear Case 8
  • PE of 73.3x is significantly elevated relative to industrial peers, leaving little room for execution misses
  • Stock trades at 10.3x book value, implying very high growth expectations already priced in
  • 3-year stock price CAGR of -10% and 5-year CAGR of -1% indicate prolonged underperformance despite business growth
  • ROE has declined from a 5-year average of 17% to 14% in the last year, suggesting diminishing capital efficiency
  • 3-year compounded profit CAGR of only 6% versus 10-year CAGR of 18% indicates a notable growth deceleration in recent years
  • Paints segment still operates at low single-digit EBITDA margins (~4% in Q3 FY25) and requires sustained capex before meaningful profit contribution
  • FY26 PAT grew only 3% to ₹535 crore despite 12.6% revenue growth, reflecting margin pressure from newer segments
  • Dividend yield of just 0.27% offers negligible income return, making the stock entirely dependent on capital appreciation

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 19h ago
Headwinds 1
  • Chemical demerger plan withdrawn Jul 29

    Astral withdrew its Composite Scheme of Arrangement for demerging its Chemical Business, citing lack of scale and financial strength. This signals the chemical segment may remain a drag without standalone focus.

Positives 2
  • Q1FY27 profit surges 41% YoY Aug 12

    Consolidated net profit rose 40.6% YoY to ₹1,202 million for Q1FY27. Revenue grew 16.2% to ₹15,780 million, driven by strong Plumbing segment performance.

  • ₹2.50 dividend, AGM Aug 24 Aug 1

    Board recommends ₹2.50 per share dividend for FY26, subject to shareholder approval at the 30th AGM scheduled for August 24, 2026.

Neutral 3
  • Q1FY26 board approval of financials Aug 13

    Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. Detailed figures available on exchanges.

  • Q1FY27 earnings call on Aug 12 Aug 5

    Astral scheduled an earnings call on August 12, 2026 at 5:00 PM IST to discuss Q1FY27 unaudited results.

  • FY26 BRSR filed with assurance Aug 1

    Astral submitted its Business Responsibility and Sustainability Report for FY25-26, covering 18 plants and ₹5,908 crore standalone turnover, with reasonable assurance by M/s Hetal J Shah & Co.

TL;DR: Astral delivered a strong Q1FY27 with 41% profit growth and 16% revenue growth led by Plumbing. The company is rewarding shareholders with a ₹2.50 dividend. The key risk is the abandoned chemical demerger, suggesting that segment lacks standalone viability. Overall trend is positive with robust core business momentum, though diversification beyond plumbing remains a watch area.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
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
Expenses
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%
Other Income
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
PBT
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%
Net Profit
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
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
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
Expenses
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%
Other Income
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
PBT
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%
—
Net Profit
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
15.1
18.06
17
20.33
19.5
19.97
21.43
Div. Payout %
6%
5%
5%
4%
4%
6%
10%
12%
21%
18%
19%
13%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Borrowings
203
197
229
189
275
191
80
98
87
119
233
250
Other Liabilities
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
Fixed Assets
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
Other Assets
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
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
117
226
114
282
342
405
664
543
557
823
630
1,117
Investing
-343
-203
-158
-185
-291
-318
-454
72
-478
-541
-513
-506
Financing
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
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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%

Shareholding Pattern

As of Jun 2026
Promoters 54.22%
DIIs 21.31%
FIIs 13.89%
Public 8.90%
Others 1.68%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
55.74%
55.74%
55.73%
55.73%
55.73%
55.73%
55.85%
55.85%
55.85%
55.85%
55.85%
54.10%
54.10%
54.10%
54.10%
54.10%
54.10%
54.10%
54.21%
54.22%
54.22%
54.22%
FIIs
2.21%
2.17%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
18.50%
19.79%
21.22%
22.48%
22.32%
21.08%
20.17%
20.14%
16.61%
15.22%
14.50%
13.89%
DIIs
7.25%
7.50%
10.04%
10.91%
12.01%
12.82%
13.03%
15.23%
16.50%
15.87%
13.21%
13.66%
12.85%
12.45%
12.47%
13.92%
14.76%
14.90%
17.79%
19.54%
21.29%
21.31%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
10.23%
10.06%
10.51%
10.90%
11.33%
11.85%
11.45%
11.87%
11.83%
10.86%
10.67%
10.75%
10.21%
9.45%
9.65%
9.47%
9.61%
9.43%
9.80%
9.37%
8.36%
8.90%
Others
24.57%
24.53%
23.72%
22.46%
20.93%
19.60%
19.67%
17.05%
15.83%
17.43%
1.77%
1.70%
1.61%
1.52%
1.46%
1.43%
1.36%
1.42%
1.59%
1.66%
1.63%
1.68%
No. of Shareholders
0
78,140
1,24,057
1,71,566
1,99,756
2,41,931
2,72,680
2,70,045
3,13,284
2,92,672
2,95,456
2,93,602
2,85,688
2,62,050
2,93,911
2,97,527
3,09,714
2,98,456
2,97,582
2,79,726
2,58,441
2,64,925

Documents

Frequently Asked Questions about Astral Ltd

What does Astral Ltd do?
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 fitting...
Where is Astral Ltd (ASTRAL) listed?
Astral Ltd is listed on the Indian stock exchanges. It is listed on NSE: ASTRAL and BSE: 532830. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Astral Ltd belong to?
Astral Ltd operates in the Industrial Products sector within the Plastic Products - Industrial industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Astral Ltd?
Astral Ltd has a market capitalisation of approximately ₹40979.90 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Astral Ltd?
The Price-to-Earnings (PE) ratio of Astral Ltd is 70.93. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Astral Ltd?
Over the past 52 weeks, Astral Ltd has traded between a low of ₹1,284.4 and a high of ₹1,768.7. This range helps investors understand the stock's price volatility and recent trading levels.
Does Astral Ltd pay dividends?
Yes, Astral Ltd has a dividend yield of 0.26%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Astral Ltd?
Astral Ltd has a Return on Equity (ROE) of 13.18%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Astral Ltd on Tapetide?
On Tapetide, you can view Astral Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website astralpipes.com
CEO Mr. Sandeep Pravinbhai Engineer
Listed 2007-03-20
Face Value ₹ 1
Issued Size 26,86,50,163

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