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Hold Astral Ltd For Target Rs 1,909 - ICICI Securities Demand and margin trend remains favourable We interacted with the management of Astral Ltd (Astral) and following are the key takeaways: a) demand trend in pipe market remains healthy in Q2FY24-TD with 20%+ volume growth YoY (partly aided by low base) driven largely by the plumbing segment; b) management indicated operating margins to improve QoQ in Q2FY24 for both pipes (due to better product mix and no inventory losses likely to recur in Q2 given that PVC resin prices have been on an upt...
Hold Astral Ltd For Target Rs 1,909 - ICICI Securities
Hold Astral Ltd For Target Rs 1,909 - ICICI Securities
Source: ICICI Securities Ltd
6/09/2023 2:27:54 PM
Sell ASTRAL Ltd For Target Rs.1,657 - Yes Securities Bullish on growth but valuations compel SELL rating! Result Synopsis Astral Ltd delivered yet another quarter of strong volume growth, despite Q1 being a Agri-heavy season. Company’s plastic pipe volumes stood at 47,950Te, a growth of 31%YoY (5-year volume growth stood at 16%), on account of healthy demand from Plumbing and Infra segment. ASP contracted to Rs196/Kg Vs Rs240/Rs206 owing to fall in resin prices coupled with change in product-mix. Consequently, EBITDA/Kg came in at R...
Sell ASTRAL Ltd For Target Rs.1,657 - Yes Securities
Sell ASTRAL Ltd For Target Rs.1,657 - Yes Securities
Source: Yes Securities Ltd
22/08/2023 2:50:03 PM
Buy Astral Ltd For Target Rs 2,295 - ICICI Securities Smart Alpha: Robust volume outlook in pipes for H2FY23E with margin improvement QoQ In our view, Astral (ASTRA) stock appears well positioned to gain (in absolute term) in the immediate near term as volumes are expected to pick-up in pipe segment (from Q3) and also margins are likely to normalise (in Q4FY23E) as PVC prices have stabilised (post ~34% decline in FY23-TD). Additionally, with correction in adhesive input prices like VAM (down ~49% in FY23-YTD), margin in this business should a...
Buy Astral Ltd For Target Rs 2,295 - ICICI Securities
Buy Astral Ltd For Target Rs 2,295 - ICICI Securities
Source: ICICI Securities Ltd
27/02/2023 2:21:50 PM
Reduce ASTRAL Ltd For Target Rs.1,752 - Yes Securities Expensive valuations, assign REDUCE! Result Synopsis Astral Ltd reported stellar volumes of 45,859Te in pipe biz (73% of revenue), a growth of 30%YoY & 13%QoQ (3-year CAGR: 13%), owing to healthy demand from pluming segment. ASP came in at Rs203/Kg as compared to Rs244/Rs205 in Q3FY22/Q2FY23 respectively. EBITDA/kg for the quarter stood at Rs31 Vs Rs49/Rs28 in Q3FY22/Q2FY23 respectively. Adhesive’s biz (27% of biz) registered a revenue growth of 31%YoY & flattish QoQ to Rs...
Reduce ASTRAL Ltd For Target Rs.1,752 - Yes Securities
Reduce ASTRAL Ltd For Target Rs.1,752 - Yes Securities
Source: Yes Securities Ltd
21/02/2023 12:18:13 PM
Add Astral Ltd For Target Rs. 2,182 - ICICI Direct Demand and margin outlook better in H2FY23 Astral reported Q2FY23 consolidated revenue decline of 2.4% YoY (3-year CAGR of +20%) on a high base with plumbing segment revenue declining 10.6% YoY, while adhesive segment grew 9.8% YoY. Paints segment reported revenue of Rs500mn (- 10% QoQ) in Q2. Plumbing volumes declined 4% YoY (3-year CAGR of +5.6%) on a high base while EBIDTA/kg contracted to Rs27.6/kg (-32.8% YoY) due to inventory losses of ~Rs450mn as PVC prices fell ~23% QoQ. Adjusting ...
Add Astral Ltd For Target Rs. 2,182 - ICICI Direct
Add Astral Ltd For Target Rs. 2,182 - ICICI Direct
Source: ICICI Direct Ltd
30/12/2022 1:49:00 PM
Astral Ltd : Stock loss hits profitability; healthy outlook to drive H2; retaining a Buy - Anand Rathi Shares and Stock Brokers Ltd Stock loss hits profitability; healthy outlook to drive H2; retaining a Buy Astral’s disappointing Q2 performance belied expectations, its revenue, EBITDA, and PAT coming respectively 2.4%, 31.9% and 49.9% lower y/y to Rs11.7bn, Rs1.4bn and Rs708m (ARe: Rs13bn, Rs1.8bn and Rs940m. Continuing higher input costs and stock losses shaved 174bps off the gross margin y/y to 30.2% Higher employee and other operating expenses dragged the operating margin down 534bps to 12.3%. Higher deprecia...
Astral Ltd : Stock loss hits profitability; healthy outlook to drive H2; retaining a Buy - Anand Rathi Shares and Stock Brokers Ltd
Astral Ltd : Stock loss hits profitability; healthy outlook to drive H2; retaining a Buy - Anand Rathi Shares and Stock Brokers Ltd
Source: Anand Rathi Shares and Stock Brokers Ltd
29/11/2022 3:15:23 PM
Add Astral Ltd For Target Rs.2,182- ICICI Securities Astral reported Q2FY23 consolidated revenue decline of 2.4% YoY (3-year CAGR of +20%) on a high base with plumbing segment revenue declining 10.6% YoY, while adhesive segment grew 9.8% YoY. Paints segment reported revenue of Rs500mn (- 10% QoQ) in Q2. Plumbing volumes declined 4% YoY (3-year CAGR of +5.6%) on a high base while EBIDTA/kg contracted to Rs27.6/kg (-32.8% YoY) due to inventory losses of ~Rs450mn as PVC prices fell ~23% QoQ. Adjusting for inventory loss, EBITDA/kg was ~Rs38.6/kg (...
Add Astral Ltd For Target Rs.2,182- ICICI Securities
Add Astral Ltd For Target Rs.2,182- ICICI Securities
Source: ICICI Direct Ltd
25/11/2022 1:47:27 PM
Astral moves up on getting nod to purchase additional 15% stake in Seal IT Services Astral is currently trading at Rs. 2506.80, up by 94.30 points or 3.91% from its previous closing of Rs. 2412.50 on the BSE. The scrip opened at Rs. 2446.85 and has touched a high and low of Rs. 2537.85 and Rs. 2413.95 respectively. So far 68309 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2654.00 on 09-Sep-2022 and a 52 week low of Rs. 1584.00 on 20-Jun-2022. Last one week high and low of the scrip stood at ...
Astral moves up on getting nod to purchase additional 15% stake in Seal IT Services
Astral moves up on getting nod to purchase additional 15% stake in Seal IT Services
Source: Accord Fintech
15/09/2022 3:44:49 PM
Buy Astral Poly Technik Ltd For Target Rs.2,215 -Reliance Securities Strong Revenue Growth at the Cost of Margin Astral reported healthy revenue of Rs12.1bn in 1QFY23 (up 73% YoY, down 13% QoQ), higher than our estimate of Rs11bn. Plumbing revenue increased by 74% YoY to Rs8.8bn, while adhesive revenue jumped by 72% YoY to Rs3.7bn. Volume of plumbing segment increased by 49% YoY to 36,578 MT, while realisation stood at Rs240/kg, up 17% YoY. EBITDA increased by 33% YoY (down 21% QoQ) to Rs1.7bn, (in-line with our estimates of Rs1.6bn) while blended EBITDA ma...
Buy Astral Poly Technik Ltd For Target Rs.2,215 -Reliance Securities
Buy Astral Poly Technik Ltd For Target Rs.2,215 -Reliance Securities
Source: reliance securities
23/08/2022 3:55:01 PM
Hold Astral Poly Technik Ltd For Target Rs.2100- ICICI Direct Inventory loss, one-off expenses drag margin… About the stock: Astral is the leader in the CPVC piping segment and expanding into the other building material business such as adhesive, paints and sanitary ware. * Astral is the third largest piping company with a value market share of 9%. In FY22, Piping, adhesive contributed 77%, 23%, respectively, to its topline * Healthy b/s reflected in strong return ratios (RoE: 21%, RoCE: ~27%) Q1FY23 Results: Strong revenue growth; In...
Hold Astral Poly Technik Ltd For Target Rs.2100- ICICI Direct
Hold Astral Poly Technik Ltd For Target Rs.2100- ICICI Direct
Source: ICICI Direct
22/08/2022 10:20:54 AM
Astral acquires 51% stake in Gem Paints for Rs 194 cr Astral said it has subscribed to Optionally Convertible Debentures (OCDs) of Rs 194 crore issued and allotted by Gem Paints on Tuesday, 21 June 2022. Astral has appointed majority directors on the board of Gem Paints and Esha Paints and control is established in terms of the aforesaid debenture subscription agreement. Accordingly, Gem Paints and Esha Paints have become subsidiary and step down subsidiary of the company respectively in terms the applicable provisions of the Companies Act 20...
Astral acquires 51% stake in Gem Paints for Rs 194 cr
Astral acquires 51% stake in Gem Paints for Rs 194 cr
Source: Dion Global Solutions Ltd
22/06/2022 12:40:07 PM
Hold Astral Poly Technik Ltd For Target Rs.2,274 - ICICI Securities Insipid quarter Astral Ltd reported lower-than-expected consolidated revenue growth of 22.4% YoY with piping/adhesive segment witnessing growth of 24.6%/16.1% YoY. Piping volume declined by 4.4% YoY due to fluctuating PVC prices resulting in lower offtake by dealers, unseasonal rains affecting demand, and covid restrictions. EBIDTA margin shrank 341bps YoY to 18% due to lower profitability in both the segments on account of higher raw material cost, resulting in EBIDTA growth of just 2.9% ...
Hold Astral Poly Technik Ltd For Target Rs.2,274 - ICICI Securities
Hold Astral Poly Technik Ltd For Target Rs.2,274 - ICICI Securities
Source: ICICI Securities Ltd
11/04/2022 2:16:38 PM
Hold Astral Ltd For Target Rs.2,375 - ICICI Direct Strong volume growth; weak margins… About the stock: Astral is the leader in the CPVC piping segment and expanding into the adhesive business. * Astral is the third largest piping company with a value market share of 9%. Piping, adhesive contribute 76%, 24%, respectively, to topline * Healthy balance sheet reflected in strong return ratios (RoE: ~21.5%, RoCE: ~27.5%)   Q2FY22 Results: Better-than-expected performance from both piping and adhesive business. High raw ...
Hold Astral Ltd For Target Rs.2,375 - ICICI Direct
Hold Astral Ltd For Target Rs.2,375 - ICICI Direct
Source: ICICI Direct
16/12/2021 9:20:01 AM
Hold Astral Poly Technik Ltd For Target Rs.2160 - ICICI Direct Strong performance continues… About the stock: Astral is the leader in the CPVC piping segment and expanding into the adhesive business. * Astral is the third largest piping company with a value market share of 9%. Piping, adhesive contribute 76%, 24%, respectively, to topline * Healthy balance sheet reflected in strong return ratios (RoE: ~21.5%, RoCE: ~27.5%)   Q1FY22 Results: Better than expected performance by both piping and adhesive business. * Consolidated...
Hold Astral Poly Technik Ltd For Target Rs.2160 - ICICI Direct
Hold Astral Poly Technik Ltd For Target Rs.2160 - ICICI Direct
Source: ICICI Direct
7/10/2021 10:36:58 AM
Buy Astral Ltd Target Rs. 2210 - Religare Broking Derivative Ideas ASTRAL FUT has added around 12% in open interest in as fresh long build up was seen in it. Current chart pattern also indicates further up move in its price. We suggest buying in ASTRAL as per below levels. Strategy:- BUY ASTRAL BETWEEN 2110-2120 SL 2070 TARGET 2210.   To Read Complete Report & Disclaimer Click Here   Please refer disclaimer http://ex.religareonline.com/disclaimer SEBI Registration number is INZ000174330   ...
Buy Astral Ltd Target Rs. 2210 - Religare Broking
Buy Astral Ltd Target Rs. 2210 - Religare Broking
Source: Religare Broking Ltd
23/09/2021 11:47:06 AM
Buy Astral Poly Technik Ltd Target Rs. 2030 - Religare Broking Derivative Ideas  ASTRAL FUTS added around 11% in open interest as SHORT buildup was seen in it . Current chart pattern also indicates further down move in its price. We suggest selling in ASTRAL AUG FUTS as per below levels. Strategy:- SELL ASTRAL AUG FUTS BETWEEN 2090-2095 STOPLOSS 2120 TARGET 2030.   To Read Complete Report & Disclaimer Click Here   lease refer disclaimer http://ex.religareonline.com/disclaimer SEBI Registration number...
Buy Astral Poly Technik Ltd Target Rs. 2030 - Religare Broking
Buy Astral Poly Technik Ltd Target Rs. 2030 - Religare Broking
Source: Religare Broking Ltd
11/08/2021 10:45:35 AM
Add Astral Ltd For Target Rs. 1,964 - ICICI Securities Embedded optionality offers valuation comfort While we downgrade Astral Ltd (ASTRA) to ADD from Buy on the recent surge in stock price, we remain highly optimistic on the growth prospects of the company over the next 3-5 years. Besides the inherent growth prospects of both its pipes and adhesive divisions (capable of delivering 15-20% revenue CAGR over next 5 years), the business model has embedded optionality which provides healthy comfort to otherwise seeming expensive valuations. These ...
Add Astral Ltd For Target Rs. 1,964 - ICICI Securities
Add Astral Ltd For Target Rs. 1,964 - ICICI Securities
Source: ICICI Securities
14/06/2021 12:07:57 PM
Hold Astral Ltd For Target Rs. 1915 - ICICI Direct Beat on all front… Astral Ltd has reported an all-round performance in Q4FY21 with revenue and PAT coming in much ahead of our expectation. Consolidated revenue growth at 79% YoY to | 1128 crore was ahead of our expectation of 36% growth. This was mainly driven by strong performance of both piping and adhesive businesses. Standalone piping revenue increased 80% YoY to ~| 910 crore supported by ~26% YoY growth in volume. Strong demand from housing and construction segment helped driv...
Hold Astral Ltd For Target Rs. 1915 - ICICI Direct
Hold Astral Ltd For Target Rs. 1915 - ICICI Direct
Source: ICICI Direct
11/06/2021 11:14:12 AM
Astral Ltd - 4QFY21 Result Update by Mr. Amarjeet Maurya, Angel Broking Below are Views On Astral Ltd - 4QFY21 Result Update by Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd During the 4QFY21, Astral Ltd (AL) reported revenue of ~Rs1,128cr (up ~79% YoY) on back of healthy volume growth in both segments like PiPe and Adhesive. On the EBITDA front, the company has reported an EBITDA margin at 23%, which is up by 520bps yoy due to lower operating costs.  On the bottom-line front, PAT grew by ~241% to Rs176cr....
Astral Ltd - 4QFY21 Result Update by Mr. Amarjeet Maurya, Angel Broking
Astral Ltd - 4QFY21 Result Update by Mr. Amarjeet Maurya, Angel Broking
Source: Angel Broking Ltd
19/05/2021 11:08:04 AM
Buy Astral Poly Technik Ltd For Target Rs.1,663 - ICICI Securities On a strong footing; top pick in pipes We upgrade ASTRA to BUY with the stock correcting ~27% in the last one month. Besides expecting the company to continue with its strong earnings traction post Covid, we expect its premium valuations to sustain driven by a) sustained market share gain opportunity in piping segment with likely accelerated consolidation in PVC/CPVC pipes segment in the post Covid environment; b) strong option value in its adhesive business (capable of growing at 20-25% ...
Buy Astral Poly Technik Ltd For Target Rs.1,663 - ICICI Securities
Buy Astral Poly Technik Ltd For Target Rs.1,663 - ICICI Securities
Source: ICICI Securities Ltd
15/04/2021 10:29:50 AM
Add Astral Poly Technik Limited For Target Rs. 2,210 - HDFC Securities An ‘astr‘onomical growth story We initiate coverage on Astral Poly Technik Ltd (ASTRA) with an ADD rating and a target price of INR 2,210/sh. We like ASTRA for its leadership presence in the CPVC segment and continued traction in adhesive business. Aided by strong demand outlook in both businesses and ASTRA’s new product launches (tanks and valves in plastic pipes, newer chemistries in adhesives), distribution strengthening in adhesives, and focus on asset sweating, ASTRA...
Add Astral Poly Technik Limited For Target Rs. 2,210 - HDFC Securities
Add Astral Poly Technik Limited For Target Rs. 2,210 - HDFC Securities
Source: HDFC Securities Ltd
20/03/2021 9:39:53 AM
Hold Astral Poly Technik Limited For Target Rs. 1670 - ICICI Direct Turns ex-bonus today Astral Poly Technik (ASTPOL) made an announcement on bonus shares on February 3, 2021. The ratio was one bonus share for every three equity shares, 1:3. The record date for the same is March 19, 2021 while the exdate for the same is today, March 18, 2021. Consequently, Astral Poly Technik’ share price, as per yesterday's closing price, has adjusted to | 1843/share from | 2457/share. Accordingly, our target price stands revised to | 1670/share. We maintain our...
Hold Astral Poly Technik Limited For Target Rs. 1670 - ICICI Direct
Hold Astral Poly Technik Limited For Target Rs. 1670 - ICICI Direct
Source: ICICI Direct
19/03/2021 11:50:53 AM
Update On Astral Poly Technik By HDFC Securities Astral Poly Technik Astral Poly Technik has guided that the demand trend continues to be strong across both its pipes and adhesives business segments. Rising consolidation has further aided the industry’s pricing power and, hence, its strong margin is expected to sustain despite soaring RM costs. While pricing power is sustaining in the near term, continued resin price inflation will impact agri demand and hit margin 1QFY22E. Astral’s expansion across pipes, tanks and valves i...
Update On Astral Poly Technik By HDFC Securities
Update On Astral Poly Technik By HDFC Securities
Source: HDFC Securities Ltd
18/03/2021 10:04:30 AM
Hold Astral Poly Technik Ltd For Target Rs. 2225 - ICICI Direct Strong recovery amid pent up demand… Astral’s Q3FY21 performance was better than our estimates on all front. This was led by strong pent demand in the piping segment from urban regions and a favourable base for adhesive segment. Consolidated revenue growth at 35% YoY was supported by ~33%, ~42% YoY growth in the piping and adhesive segments respectively. Standalone revenues (~77% of consolidated topline & mainly piping business) witnessed a notable growth of 33% led by ~15...
Hold Astral Poly Technik Ltd For Target Rs. 2225 - ICICI Direct
Hold Astral Poly Technik Ltd For Target Rs. 2225 - ICICI Direct
Source: ICICI Direct
24/02/2021 11:42:50 AM