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Astral

ASTRAL NSE
₹1,423.70 +35.50 (+2.56%)
P/E
66.43
View as Markdown
MCP
Close 4 Nov 2026 ₹1,423.70 −142.40 −9.09% 1Y
Start ₹1,566.10

Key Fundamentals

SmallcapIndustrial ProductsCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
19.20%
Debt to Equity
0.06
EPS (TTM)
₹21.43
Book Value
₹151.00
Market Cap
—
P/E (TTM)
66.43
P/B
9.43
ROE
13.80%
Dividend Yield
0.29%
EBITDA
₹1,109 Cr
52W High
₹1,768.70
52W Low
₹1,311.60
Day Range
₹1,375.50 – ₹1,425.00
Volume
3,60,190

Peer Comparison

Industrials › Industrial Products › Plastic Products - Industrial

Astral peer comparison
Supreme Industries
₹3,353.5041.26₹42,083 Cr6.660.36%15.80%20.70%₹11,326 Cr₹1,033 Cr
Astral (this company)
₹1,423.7066.43₹37,224 Cr9.430.29%13.80%19.20%₹6,785 Cr₹576 Cr
Garware Hi-Tech Films
₹7,544.5045.19₹17,078 Cr6.030.16%13.50%18.10%₹2,258 Cr₹388 Cr
Kingfa Science & Technology
₹6,816.5040.93₹9,153 Cr6.600.30%17.40%23.20%₹2,222 Cr₹225 Cr
Finolex Industries
₹143.9514.51₹8,730 Cr1.181.99%8.57%11.80%₹3,954 Cr₹616 Cr
Time Technoplast
₹171.4216.94₹8,407 Cr2.070.90%13.10%16.50%₹6,445 Cr₹498 Cr
Prince Pipes & Fittings
₹297.7532.26₹3,136 Cr2.000.36%4.60%6.03%₹2,627 Cr₹103 Cr
Median 7 companies₹1,423.7040.93₹9,153 Cr6.030.36%13.50%18.10%₹3,954 Cr₹498 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

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

Overall score

50 Average

Data confidence 100/100

Category scores

Quality
71
Strong
Returns, margins, earnings quality 22% weight
Valuation
48
Average
Cheap vs sector & own history 24% weight
Growth
50
Average
Sales & profit trajectory 9% weight
Financial Health
57
Good
Solvency, leverage, coverage 9% weight
Momentum
19
Poor
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

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 9.45 times its book value

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish766
OscillatorsBearish261
Moving AveragesNeutral505

Key readings

RSI (14)
55.88
Neutral
MACD (12,26,9)
−11.20
Bullish
SMA (50)
1,425.00
Bearish
SMA (200)
1,499.10
Bearish

As of

Analyst Rating

Based on 30 analysts
BUY80%

24 of 30 analysts rate Buy, 4 Hold, 2 Sell.

As of

BUY
24
80%
HOLD
4
13%
SELL
2
7%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+14.62%
5Y+15.64%
3Y+8.39%
1Y+12.64%
TTM+16.80%

Net profit

Net profit growth by window
10Y+18.03%
5Y+5.57%
3Y+4.26%
1Y+3.08%
TTM+20.25%

Operating cash flow

Operating cash flow growth by window
10Y+17.33%
5Y+10.96%
3Y+26.11%
1Y+77.30%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+3.77 pp
5Y−3.92 pp
3Y+0.47 pp
1Y−0.05 pp
TTM+0.56 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,895 Cr
Mar 2018₹2,073 Cr
Mar 2019₹2,507 Cr
Mar 2020₹2,578 Cr
Mar 2021₹3,176 Cr
Mar 2022₹4,394 Cr
Mar 2023₹5,158 Cr
Mar 2024₹5,641 Cr
Mar 2025₹5,832 Cr
Mar 2026₹6,569 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹145 Cr
Mar 2018₹176 Cr
Mar 2019₹197 Cr
Mar 2020₹250 Cr
Mar 2021₹408 Cr
Mar 2022₹490 Cr
Mar 2023₹472 Cr
Mar 2024₹546 Cr
Mar 2025₹519 Cr
Mar 2026₹535 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹306 Cr +25.5% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 29 Oct 2026
AI opinion · based on fundamentals
Risk medium

As of 2026-10-29, Astral Ltd trades at ₹1,365.4 with a market cap of ₹36,681 crore, commanding a trailing P/E of 63.71x and P/B of 9.04x. The company is nearly debt-free with a debt-to-equity ratio of 0.06, has delivered 15% compounded sales CAGR over 10 years, but its stock has returned -10% CAGR over the last 3 years and ROE has trended down from a 10-year average of 18% to 14% in the last year.

Bull Case 7
  • Near debt-free balance sheet with a debt-to-equity ratio of just 0.06, providing significant financial flexibility and resilience against interest rate cycles
  • Strong long-term revenue track record with 10-year compounded sales CAGR of 15% and TTM sales growth accelerating to 17%, indicating demand recovery
  • Improving working capital efficiency — working capital days reduced from 17.4 days to 11.0 days, freeing up cash for operations and capex
  • Healthy ROCE of 18.43% as of 2026-10-29 suggests the company generates meaningful returns on total capital employed, well above its minimal cost of debt
  • TTM profit growth of 22% outpaces TTM sales growth of 17%, indicating operating leverage and margin expansion in the recent period
  • Long-term wealth creation track record with 10-year stock CAGR of 22% and 10-year compounded profit CAGR of 18%
  • Trading roughly 23% below its 52-week high of ₹1,768.7, with the current price of ₹1,365.4 closer to the 52-week low of ₹1,311.6, which may reflect a more reasonable entry zone relative to recent history
Bear Case 6
  • Elevated valuation at a trailing P/E of 63.71x as of 2026-10-29, demanding consistently high earnings growth to justify the premium — any execution miss could lead to de-rating
  • Declining ROE trend — from 18% (10-year average) to 15% (3-year) to 14% (last year) — suggests diminishing return on incremental equity deployed
  • Poor medium-term stock performance with 3-year stock CAGR of -10% and 1-year return of -1%, indicating sustained investor disenchantment despite business growth
  • Compounded profit CAGR of just 6% over both 3-year and 5-year periods significantly trails the 10-year profit CAGR of 18%, pointing to a material earnings growth slowdown in recent years
  • Minimal dividend yield of 0.29% as of 2026-10-29 offers negligible income support, making total returns entirely dependent on capital appreciation
  • 3-year compounded sales CAGR of only 8% is roughly half the 10-year average of 15%, raising questions about whether the TTM 17% sales growth is a sustainable re-acceleration or a one-off

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

AI News Digest

9h ago

TL;DR: A single regulatory development surfaced for Astral Ltd — a modest ₹82 lakh GST penalty that the company intends to contest. The amount is immaterial relative to Astral's scale and poses no meaningful financial risk. With no other recent news flow, the near-term narrative remains uneventful, and investors should watch for upcoming quarterly results and demand trends in the industrial products segment for directional cues.

Neutral 1
  • Minor GST penalty order Nov 03

    Astral Ltd received a GST demand order from Howrah authorities imposing a penalty of ₹82 lakh and tax of ₹1.91 lakh for HSN classification errors and ineligible ITC usage. The company plans to challenge the order, citing strong legal merits.

Quarterly Results

₹ Cr
ASTRAL quarterly results, ₹ crore
Particulars 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 (₹)
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

Profit & Loss

₹ Cr
ASTRAL profit and loss, annual, ₹ crore
Particulars 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 (₹)
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%
—

Balance Sheet

₹ Cr
ASTRAL balance sheet, annual, ₹ crore
Particulars 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

Cash Flow

₹ Cr
ASTRAL cash flow, annual, ₹ crore
Particulars 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/EBITDA
85
123
60
110
110
110
122
94
89
108
85
123

Ratios

ASTRAL financial ratios, annual
Particulars 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%

Insights

Beta

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

Log in to view Astral insights

65 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 54.22%
  • DIIs 24.13%
  • FIIs 11.09%
  • Public 8.45%
  • Others 2.11%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Astral

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 fittings…
Where is Astral Ltd (ASTRAL) listed?
Astral Ltd trades as ASTRAL on the NSE and under code 532830 on the BSE.
Which sector does Astral Ltd belong to?
Astral Ltd is classified under the Industrial Products sector, in the Plastic Products - Industrial industry.
What is the PE ratio of Astral Ltd?
Astral Ltd trades at a PE ratio of 66.43 as of 4 Nov 2026, on earnings per share of ₹21.43, against a book value of ₹151 per share.
What is the 52-week high and low of Astral Ltd?
Over the last 52 weeks Astral Ltd has traded between ₹1,311.6 and ₹1,768.7 as of 4 Nov 2026.
Does Astral Ltd pay dividends?
Astral Ltd has a dividend yield of 0.29%.
What is the Return on Equity (ROE) of Astral Ltd?
Astral Ltd reported a return on equity of 13.80%. Its debt-to-equity ratio is 0.06.

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.

Website astralpipes.com
CEO Mr. Sandeep Pravinbhai Engineer
Listed 20 Mar 2007
Face Value ₹1

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