Astral Limited (ASTRAL)

Capital Goods · Industrial Products · NSE · Updated 14 July 2026

₹1,330.9 ↓ 10.98% (1Y)

🎯 Key Takeaways

Astral Limited is undergoing a strategic transformation through a Composite Scheme of Arrangement involving the demerger of its chemicals business into Astral Chemie Limited and the amalgamation of Al-Aziz Plastics, creating two focused, independent entities. This restructuring aims to unlock value and improve operational agility, with shareholders receiving a 1:1 allotment in the newly listed Astral Chemie.
Revenue grew 1.9% QoQ to ₹1,397 in Q3FY25.
⚠️ The success of the Composite Scheme of Arrangement depends on regulatory approvals from NCLT, SEBI, and exchanges, which are uncertain and time-consum

Market Cap

₹41,662

P/E Ratio

79.2

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Astral Limited is undergoing a strategic transformation through a Composite Scheme of Arrangement involving the demerger of its chemicals business into Astral Chemie Limited and the amalgamation of Al-Aziz Plastics, creating two focused, independent entities. This restructuring aims to unlock value and improve operational agility, with shareholders receiving a 1:1 allotment in the newly listed Astral Chemie. The company is actively refining its portfolio and capital allocation strategy amid evolving market dynamics.

📰 What's Happening

In July 2026, the Board approved an independent review of the Composite Scheme of Arrangement by a Big Four firm, following stakeholder feedback, to evaluate its structure and viability. The review, to be completed within 30 days, will inform next steps pending regulatory approvals from NCLT, SEBI, and Stock Exchanges. Concurrently, Astral’s subsidiary Astral Chemie is set to acquire a 60% stake in Differentiated and Sustainable Solutions LLP for ₹39.11 crores to bolster its specialty chemicals footprint in high-growth sectors like electronics and aerospace.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	1,506	1,283	1,363	1,370	1,625	1,384	1,370	1,397
Operating Profit	314	214	234	212	302	226	219	231
OPM %	20.5%	15.7%	16.1%	15.0%	17.9%	15.5%	15.3%	15.7%
Net Profit	206	119	132	113	181	120	109	113
EPS	₹7.66	₹4.46	₹4.88	₹4.23	₹6.76	₹4.48	₹4.10	₹4.25

The company has shown signs of margin improvement and revenue stabilization, with operating margins expanding from 15.0% in Q3FY24 to 17.9% in Q4FY24, followed by a slight pullback to 15.7% in Q3FY25. Despite this, net profit and EPS have remained relatively resilient, indicating cost discipline. However, the sequential decline in operating performance from Q4FY24 to Q3FY25 may reflect macro pressures or transitional investments, particularly as the company advances strategic restructuring and acquisitions.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance on revenue or margins in the latest filings, but has emphasized the strategic rationale behind the Composite Scheme and the acquisition of DSS to enhance technological capabilities and backward integration. The Board is actively engaging stakeholders and regulatory bodies, with disclosures expected upon receipt of the independent advisor’s recommendations within 30 days of the July 5, 2026 decision.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Industrial Products

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Cummins India Limited	1.49 L Cr	74.4	—	—	—
Polycab India Limited	1.38 L Cr	74.8	—	—	—
APL Apollo Tubes Limited	52,483	43.6	29.3%	22.7%	0.09
KEI Industries Limited	48,924	72.7	—	—	—
Supreme Industries Limited	44,570	43.6	—	—	—
Astral Limited	41,662	79.2	—	—	—
AIA Engineering Limited	35,987	31.0	20.4%	16.8%	0.07
Welspun Corp Limited	34,530	23.2	—	—	—
Timken India Limited	26,561	61.0	—	—	—
Kirloskar Oil Engines Limited	25,295	49.8	—	—	—

🔗 Peer Stock Analyses

CUMMINSIND POLYCAB APLAPOLLO KEI SUPREMEIND

⚠️ Risk Factors

1. The success of the Composite Scheme of Arrangement depends on regulatory approvals from NCLT, SEBI, and exchanges, which are uncertain and time-consuming. 2. Integration risks associated with the acquisition of DSS could strain financial resources and operational focus if not executed smoothly. 3. Margin compression in recent quarters may signal pricing pressure or rising input costs, which could challenge profitability if not managed effectively.

📋 Recent Filings

🧠 Analyst's Read

Astral is in a pivotal phase of strategic reconfiguration, with investor focus likely on the outcome of the independent review of the Composite Scheme and progress on the DSS acquisition. Key near-term catalysts include regulatory clearances and the advisor’s recommendations, which will determine the trajectory of the demerger and its value-unlocking potential.

Based on filing content and financial data. Not a recommendation.

✨ Deep Dive with AI on ASTRAL

Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-14.

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