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Astral Ltd (ASTRAL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532830 NSE: ASTRAL Plastic Products | Mid Cap | Astral Share Price

₹1,518.40 -31.05 (-2.00%)

As on 05-Jun'26 16:59

Astral Ltd (ASTRAL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532830 NSE: ASTRAL Plastic Products | Mid Cap | Astral Share Price

₹1,518.40 -31.05 (-2.00%)

As on 05-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹41,626 Cr.
Current Price
₹1,518.4
52-Week Low / High
₹1,263 / 1,768
TTM EPS
₹20
TTM Sales
₹6,569 Cr.
Book Value per Share
₹151
P/E Ratio
77.57
Lower than its 5-year historical median
Industry PE
39
Price to Book (P/B)
10.26
Lower than its 5-year historical median
Price to Sales (P/S)
6.34
Lower than its 5-year historical median
EV/EBITDA
36.82
Lower than its 5-year historical median
Dividend Yield
0.29%
Profitability Efficiency
Return on Equity (ROE)
15.26%
Underperforms industry median
Return on Capital Employed (ROCE)
21.12%
Underperforms industry median
Return on Assets (ROA)
10.87%
Operating Profit Margin
16.2%
Net Profit Margin
8.9%
Gross Profit Margin
16.2%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
3.39%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
3.01%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-4.89%
Asset Quality
Promoter Holding
54.22%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹4,030 Cr.
Equity
₹26.9 Cr.
Face Value
₹1
All Time Low / High
₹1.38 / 2453.95

Astral stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Astral Ltd a good quality company?
Astral Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Astral Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Astral Ltd vs industry peers?
Astral Ltd revenue CAGR is 17.74%, compared to the industry median CAGR of 15.69%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Astral Ltd?
Promoters hold 54.22% of the Astral Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Astral Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 23.1% based on the current price.

DeciZen - make an informed investing decision on Astral

Decision Maker
Consolidated basis

1. Right Stock

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2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Astral Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 18.8%22.2%23.7%22.9%21.3%29.9%30.2%25.2%25.1%21.1%-
Value Creation
Index
0.30.60.80.70.61.71.71.21.20.9-

Growth Parameters

Sales 1,6781,8952,0732,5072,5783,1764,3945,1595,6415,8326,569
Sales YoY Gr.-12.9%9.4%21%2.8%23.2%38.3%17.4%9.4%3.4%-
Adj EPS 3.95.36.37.29.214.617.616.420.319.320
YoY Gr.-36.2%20.1%14.2%27.8%57.9%20.4%-6.4%23.3%-5%-
BVPS (₹) 26.631.838.245.255.970.787.1100.7118.4134.3151
Adj Net
Profit
103140168193247391471442544517537
Cash Flow from Ops. 226114282342405664543557823630-
Debt/CF from Ops. 0.920.70.80.50.10.20.10.10.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 14.9%17.7%9.9%3.4%
Adj EPS 19.5%15.8%3.1%-5%
BVPS19.7%19.2%15.5%13.5%
Share Price 22.2% 1.3% -7.4% -0.5%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
15.51818.116.817.82322.217.518.515.214
Op. Profit
Mgn %
12.613.915.315.417.220.317.215.716.416.216.2
Net Profit
Mgn %
6.27.48.27.79.712.410.98.99.68.88.2
Debt to
Equity
0.30.30.20.20.1000000
Working Cap
Days
113108120111119978190929559
Cash Conv.
Cycle
7161756666423036394126

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,6781,8952,0732,5072,5783,1764,3945,1595,6415,832
Operating Expenses + 1,4701,6311,7562,1222,1352,5323,6394,3494,7234,887
Manufacturing Costs7188101123135132233326386415
Material Costs1,2051,3031,3831,6481,5961,9692,8633,3283,3503,398
Employee Cost 7589106139175191245319438518
Other Costs 119151165212229240298375549556
Operating Profit 208264317385443645755810918946
Operating Profit Margin (%) 12.4%13.9%15.3%15.4%17.2%20.3%17.2%15.7%16.3%16.2%
Other Income + 291315122535274241
Exceptional Items -1-100000-200
Interest 30182232391313402941
Depreciation 42505781108117127178198243
Profit Before Tax 131201248283306533649615734703
Tax 3056728657125158156188184
Profit After Tax 102145176197250408490460546519
PAT Margin (%) 6.1%7.6%8.5%7.9%9.7%12.9%11.2%8.9%9.7%8.9%
Adjusted EPS (₹)3.85.46.67.39.215.118.117.020.319.5
Dividend Payout Ratio (%)4.80%4.10%4.10%4.30%6.10%9.90%12.50%20.60%18.50%19.30%

Valuation of Astral - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 7088471,0171,2051,5021,8952,3352,7093,1873,615
Share Capital 12121212152020272727
Reserves 6968351,0051,1931,4871,8752,3152,6823,1603,588
Debt +13116212319412740787193141
Long Term Debt1311221171631071733324490
Short Term Debt040630202345395051
Minority Interest131214151721282488076
Trade Payables316287349390475517748800872859
Others Liabilities 133153173296168199197535264358
Total Liabilities 1,3011,4621,6752,0992,2892,6733,3874,3624,4965,048

Fixed Assets

Net Fixed Assets +6457418421,1051,2551,3151,4961,9512,2992,712
Gross Block6878309901,3321,5891,7682,0742,7053,2403,893
Accumulated Depreciation42891482273344535787559401,181
CWIP 152573814457123126151116
Investments 0000000000
Inventories2772723573975404727338759131,011
Trade Receivables227338307339228277269355376435
Cash Equivalents 50184498130476642682610608
Others Assets 876752799177123374147166
Total Assets 1,3011,4621,6752,0992,2892,6733,3874,3624,4965,048

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 226114282342405664543557823630
PBT 131201248283306533649615734703
Adjustment 816481105162133133210217269
Changes in Working Capital 43-107163119114-71-10350-172
Tax Paid -29-44-63-77-82-116-168-165-177-170
Cash Flow From Investing Activity + -203-158-185-293-318-45472-480-541-513
Capex -134-160-184-220-213-171-345-310-550-539
Net Investments 00-3-32-28-32422
Others -6922-71-106-281408-167-155
Cash Flow From Financing Activity + 1612-71-5-163-153-44-191-203-118
Net Proceeds from Shares 59000000000
Net Proceeds from Borrowing 11-7-747-83-122-2-23846
Interest Paid -30-19-21-31-41-14-12-37-27-34
Dividend Paid -9-3-8-9-24-15-45-60-101-101
Others -1540-35-11-15-315-71-84-29
Net Cash Flow 38-322544-7557571-11380-1

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)15.3918.6218.8817.7818.4624.0523.218.2318.5215.26
ROCE (%)18.7622.1523.6522.8721.3329.9330.1925.1625.1321.12
Asset Turnover Ratio1.521.541.341.331.171.281.451.331.271.22
PAT to CFO Conversion(x)2.220.791.61.741.621.631.111.211.511.21
Working Capital Days
Receivable Days44.8048.5055.904740.102922.7022.1023.6025.40
Inventory Days52.9047.1054.5054.9066.4058.2050.1056.9057.8060.20
Payable Days32.8042.4046.304757.1058.6056.705660.7065.10

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Astral Ltd FAQs

The current trading price of Astral on 05-Jun-2026 16:59 is ₹1,518.4.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Jun-2026 the market cap of Astral stood at ₹41,626 Cr

The latest P/E ratio of Astral as of 04-Jun-2026 is 68.13.

The latest P/B ratio of Astral as of 04-Jun-2026 is 10.14.

The 52-week high of Astral is ₹1,768 and the 52-week low is ₹1,262.8.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Astral is ₹5,908 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Astral Ltd is a good quality company.

The key valuation ratios of Astral Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Astral Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Astral Ltd

Astral has grown into one of India’s leading building materials companies, with a diversified presence across essential construction and infrastructure product categories. Starting with a focused offering in pipes and fittings, the company has, over the years, systematically expanded its portfolio to include adhesives, sealants, water storage solutions, bathware, valves, paints, construction chemicals, and infrastructure products. This transition from a single-product manufacturer to a comprehensive building materials player reflects Astral’s long-term strategic vision and responsiveness to market needs.

Astral offers a comprehensive portfolio of building material solutions, designed to address the evolving needs of the construction industry. From advanced piping systems to high-performance adhesives, construction chemicals, bathware, paints, and infrastructure solutions, Astral’s offerings are engineered to deliver reliability and value. With a focus on continuous improvement and sustainability, the company strives to contribute to the development of modern infrastructure.

Business area of the company

The company is among the country’s leading manufacturers of plastic pipes used across the industries and is now making strong inroads into the adhesives segment and infrastructure products. It manufactures plumbing, drainage, agriculture, industrial, electrical conduit and fire sprinkler pipes along with selling Hauraton surface drainage systems in India. It has set new benchmarks of quality and innovation in plumbing and drainage solutions of the country.

Product portfolio of the company

  • Pipes and fittings: Astral delivers a comprehensive range of plastic piping solutions, engineered to meet the diverse requirements of residential, commercial, agricultural, and industrial applications. Its products are developed with a strong focus on quality, reliability, and long-term performance. Products: Plumbing Pipes & Fittings, Sewerage & Drainage Pipes & fittings, Agriculture Pipes & Fittings, Cable Protection System, Industrial Piping System, Fire Protection System, Urban Infrastructure, Ancillary Products, Column Pipe.

  • Water tanks: Astral’s water tanks are designed to provide safe, hygienic, and durable water storage solutions. Incorporating advanced features and certified standards, its tanks reflect a commitment to quality and innovation in every detail. Products: Roto Moulding Water Tanks - 4 layers, 3 Layers and 2 Layers, Blow Moulded Water Tanks, Loft Water Tanks, Water Tank with Anti-Viral Copper Shield - 4 Layers and 3 Layers.

  • Adhesives and sealants: Astral offers an extensive portfolio of adhesives and sealants for construction, maintenance, woodworking, and industrial use. Its solutions are recognised for their consistent quality, robust performance, and reliability across a wide range of applications. Products: Epoxy Adhesives and Epoxy Putty, PVA Adhesives, Rubber Adhesives, Anaerobic Adhesives, Tapes, Silicone, Acrylic and Hybrid Sealants, Instant Adhesives (Cyanoacrylate), Industrial Adhesives, Solvent Cements, Specialised Adhesives.
  • Construction chemicals: Astral’s construction chemicals are formulated to support advanced waterproofing, tiling, and grouting needs. These solutions are intended to enhance the strength, durability, and longevity of construction projects. Products: Exterior Roof and Wall Coatings, Polymers and Integral Compounds, Bathroom and Basement Waterproofing Solutions, Repair Products, Tile Adhesives and Tile Grouts.
  • Bathware: Astral Bathware presents a selection of products that blend functionality with contemporary design. Manufactured at state-of-the-art facilities, its range is crafted to meet the evolving needs of modern bathrooms. Products: Faucets, Sanitaryware, Cisterns, Showers.
  • Paints: Astral entered the paint business through the acquisition of Gem Paints in 2022. Astral’s paints are developed to provide vibrant, long-lasting finishes for a variety of surfaces. Its products offer excellent coverage, durability, and a broad spectrum of colours to suit diverse aesthetic preferences. Products: Interior Emulsion, Exterior Emulsion, Distempers, Enamels, Undercoats (Primer and Wall Putty.
  • Infrastructure products: Astral’s infrastructure products are tailored to support the demands of urban development and modern construction. These solutions prioritise durability, efficiency, and reliability for a wide range of infrastructure projects. Products: Drainage, Cable Protection, PT Duct Systems.
  • Specialised valves: Astral supplies a range of specialised valves for industrial and plumbing applications. Precision engineering and stringent quality standards ensure dependable performance in every installation. Products: Compact True Union Ball Valve, Single Union Ball Valve, Industrial Ball Valve.
  • Specialised fittings: Astral has enhanced its presence in the specialised fittings segment through the acquisition of Al-Aziz Plastics Private Limited. This addition brings advanced expertise and manufacturing capabilities, allowing Astral to address a broader range of infrastructure and utility requirements with greater precision and reliability. Products: Electrofusion fittings, Compression fittings, PPR pipe fittings, Integrated clamp saddles, Mechanical clamp saddles, Integrated composite strap-on saddles, PVC Conduit Fittings for Concealed Wiring System, Investment Casting Products.

Awards:

  • 2012-13: Enterprising Entrepreneur of the year Award.
  • 2013: Business Standard Star SME of the year Award.
  • 2014: First BIS certification for Automatic Fire Sprinkler Piping System.
  • 2016: India’s Most Trusted Pipe Brand Award.
  • 2016: ET Inspiring Business Leaders of India Award.
  • 2016: India’s Most Attractive Pipe Brand Award.
  • 2018: Received ‘CFO 100’ award.
  • 2019: Most Trusted Piping Brand -TRA.
  • 2019: Received ‘CFO 100’ award.
  • 2023: India’s Most Trusted Pipe Brand by TRA 2023.
  • 2023: India’s Most Desired Pipe Brand by TRA 2023.
  • 2023: Consumer Validated Super brands 2023 for Astral Pipes.
  • 2023: Consumer Validated Super brands 2023 for Astral BondTite.
  • 2025: Consumer Validated Super brands 2025 for Astral Pipes.
  • 2025: Consumer Validated Super brands 2025 for Astral BondTite.

Milestones:

  • 1999: First to introduce CPVC piping system in India.
  • 2004: First to launch a lead-free uPVC piping system in India.
  • 2007: First to get NSF Approval for CPVC piping system in India.
  • 2007: Astral became public limited company.
  • 2008: Kenya Plant Commissioned.
  • 2009: Dholka Plant Commissioned.
  • 2012: First to launch lead-free uPVC column pipes in India.
  • 2014: Forays into bendable CPCV pipes for gas distribution.
  • 2014: Acquires 80 percent controlling stake in UK-based adhesive and sealants maker Seal It Services.
  • 2014: Acquires 76 percent in Resinova for Rs 213 crore.
  • 2014: Wire Guard launch.
  • 2015: Launched Astral Silencio.
  • 2017: Launched Hauraton Surface Drainage System.
  • 2017: Resiquick Launch.
  • 2018: USA Plant of Seal It commissioned.
  • 2018: Rescue Tape Launch.
  • 2018: Ghiloth Plant Commissioned.
  • 2018: Launched Pex-a Pro – Next Gen Hot and Cold Plumbing System.
  • 2018: Announces acquisition of Rex Polyextrusion with 51% equity buyout.
  • 2019: Astral Pipes Join Hands With Prabhas Starrer Saaho.
  • 2020: Astral forays into the Water Storage business category.
  • 2021: Astral Pipes roped in Ranveer Singh as the Brand Ambassador.
  • 2021: Astral enters into Sanitaryware & Faucet business category.
  • 2022: Astral pipes signs Allu Arjun as the brand Ambassador for southern market.
  • 2022: Astral acquires the controlling stake in Gem Paints; ventures into the paints category.
  • 2022: Astral Pipes' Cuttack Plant gets operational.
  • 2023: Introduced Industrial Ball Valve Range.
  • 2023: Astral Adhesives' Dahej Plant gets operational.
  • 2024: Astral Pipes' Hyderabad Plant gets operational.
  • 2024: Launch of Astral PTMT Range.
  • 2026: Astral Adhesives unveiled a national campaign for its flagship brand - Bondtite - 'Lakdi Ka Chumbak' featuring Ranbir Kapoor.
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