Astral shares in focus after Q3 net profit jumps 19%

Astral’s reported revenue of Rs 1,370.2 crore in the December quarter, up 8 percent from the year-ago period

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The Astral stock will be in focus after the PVC pipes maker reported a net profit of Rs 113.3 crore for the December quarter of the current financial year, up 19 percent from the year-ago period.

Revenue at Rs 1,370.2 crore was 8.1 percent higher than last year.

Astral’s EBITDA rose 10 percent YoY to Rs 205.1 crore and the EBITDA margin was at 15 percent against 14.7 percent in Q3FY23.

EBITDA is short for earnings before interest, tax, depreciation, and amortisation.

Astral also reported 15 percent a volume growth in the pipe business, while adhesives and paints top-line grew 20 percent on-year.

For its piping division, Astral is on track with its capex plans with its Telangana plant to be commissioned in Q2FY25 and Kanpur plant by FY25E. “Furthermore, margins are likely to stay healthy led by stable raw material cost and decentralisation led by capacity addition,” Nuvama Institutional Equities said.

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Astral is focusing on building a network for its sanitaryware and faucet division since the arm is seeing constant pickup in sales. The division achieved Rs 200 million quarterly run rate. The company continues to focus on branding to scale up the division.

On January 30, the stock settled at Rs 1,878.5 on the National Stock Exchange, up 0.52 percent on the NSE. Over the past six months, the stock has fallen 4.61 percent against a 9 percent rise in the Nifty during the period.

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