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Astral Ltd

ASTRAL NSE

Key Fundamentals

SmallcapPlastic Products - IndustrialIndustrial Products
Market Cap
₹38,777 Cr
Volatility
Moderate
P/E Ratio
72.27
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
₹1,263.7

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 9.56 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 3d ago
AI opinion · based on fundamentals
Risk high

Astral Ltd is a nearly debt-free industrial products company with a market cap of ₹38,498 crore trading at a PE of 72.8x and 9.6x book value. FY26 consolidated revenue grew 12.6% to ₹6,569 crore with EBITDA of ₹1,109 crore, though net profit grew only 3% for the full year and the stock has delivered negative 3-year and 5-year CAGR returns despite strong long-term fundamentals.

Bull Case 8
  • Almost debt-free balance sheet provides financial flexibility and reduces interest cost risk, with finance costs of just ₹31 crore in FY25 on a ₹38,498 crore market cap company
  • FY26 Q4 plumbing volume growth of 24.2% to 84,041 MT significantly outpaced the broader PVC industry which saw demand shrink ~10% in the same period
  • Long-term compounded sales CAGR of 15% over 10 years demonstrates consistent top-line scaling ability across cycles
  • Working capital efficiency improved from 17.4 days to 11.0 days, freeing up cash for growth and improving return on capital employed
  • FY26 consolidated revenue grew 12.6% YoY to ₹65,686 million with EBITDA expanding 12.4% to ₹11,092 million, indicating operating leverage
  • Diversification into adhesives and paints segments — paints & adhesives revenue up 22% YoY to ₹554 crore in Q4 FY26 — reduces single-segment dependency
  • 10-year stock CAGR of 21% and 10-year compounded profit growth of 18% reflect structural long-term wealth creation track record
  • TTM sales growth of 13% shows acceleration from the 3-year CAGR of 8%, suggesting a recovery in demand momentum
Bear Case 8
  • PE ratio of 72.8x is extremely elevated relative to the 10-year profit CAGR of 18% and recent TTM profit growth of only 7%, implying PEG well above 1
  • Stock trading at 9.57x book value leaves minimal margin of safety if growth slows or margins compress
  • FY26 full-year net profit grew only 3% vs expectations of ~16%, signalling margin pressure and execution challenges in newer segments
  • 3-year stock CAGR of -11% and 5-year stock CAGR of -3% indicate the stock has significantly underperformed despite revenue growth, suggesting valuation de-rating
  • ROE has declined from 18% (10-year average) to 14% in the last year, indicating dilution of capital efficiency as the company scales into new verticals
  • Compounded profit growth of just 6% over both 3-year and 5-year periods lags behind revenue growth, reflecting margin compression from new business investments
  • Dividend yield of only 0.28% provides negligible income cushion for investors while the stock trades at premium valuations
  • Entry into paints — a highly competitive market dominated by Asian Paints, Berger, and others — carries execution risk and could dilute overall group margins for years

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

AI News Digest

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

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

Positives 2
  • ₹2.50 dividend recommended Aug 1

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

  • FY26 turnover at ₹5,908 crore Aug 1

    BRSR filing reveals standalone turnover of ₹5,908 crore for FY25-26, covering 18 plants, with external reasonable assurance on core ESG KPIs by M/s Hetal J Shah & Co.

Neutral 2
  • Q1FY27 earnings call Aug 12 Aug 5

    Astral will discuss unaudited standalone and consolidated results for Q1 ended June 30, 2026 on August 12 at 5:00 PM IST.

  • BRSR filed with external assurance Aug 1

    Business Responsibility and Sustainability Report for FY25-26 submitted to BSE and NSE with reasonable assurance on core KPIs, covering 18 manufacturing plants.

TL;DR: Astral Ltd is operationally steady with ₹5,908 crore FY26 turnover and a consistent dividend payout of ₹2.50/share. The withdrawal of the chemical business demerger is a mild negative, suggesting the segment lacks standalone viability. No major growth catalysts are visible in the near term, but the upcoming Q1FY27 results on Aug 12 will provide the next directional cue on margin trends and volume growth.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
1,506
1,283
1,363
1,370
1,625
1,384
1,370
1,397
1,681
1,361
1,577
1,542
2,088
Expenses
1,199
1,082
1,143
1,165
1,334
1,169
1,160
1,178
1,380
1,176
1,321
1,304
1,706
Operating Profit
307
202
220
205
291
214
210
219
302
185
257
237
383
OPM %
20%
16%
16%
15%
18%
16%
15%
16%
18%
14%
16%
15%
18%
Other Income
12
12
13
6
10
12
9
12
9
9
11
-7
11
Interest
3
6
8
8
8
8
10
14
10
12
16
13
24
Depreciation
44
46
49
50
52
56
60
63
65
72
72
73
74
PBT
272
162
177
154
241
163
149
154
236
110
180
144
297
Tax %
24%
26%
26%
26%
25%
27%
27%
27%
25%
28%
25%
25%
28%
Net Profit
206
119
132
113
181
120
109
113
178
79
135
108
213
EPS in Rs
7.66
4.46
4.88
4.23
6.76
4.48
4.09
4.25
6.67
3.02
5.02
4.01
7.93
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
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
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
Operating Profit
168
208
261
314
382
442
638
754
810
925
946
1,062
OPM %
12%
12%
14%
15%
15%
17%
20%
17%
16%
16%
16%
16%
Other Income
3
-4
8
13
15
11
25
35
37
36
41
25
Interest
25
30
18
22
32
39
13
13
40
29
41
64
Depreciation
36
42
50
57
81
108
116
127
178
198
243
292
PBT
110
132
201
248
283
306
533
648
628
734
702
731
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
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
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 ₹38776.96 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 72.27. 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 ₹1,263.7 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 0.28%. 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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