Astral Limited (ASTRAL) — Financial Results Announcement

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Investor Takeaways

Revenue grew 12.6% YoY to ₹65,686 million, driven by 25.1% growth in Plumbing segment

EBITDA margin expanded to 16.9% from prior period, though PAT margin declined to 8.1%

Board recommended final dividend of Rs. 2.50 per share

⚠️ Margin pressure observed in Paints and Adhesives segment (EBITDA margin at 8.7%)

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹65,686 million	12.6%
Net Profit	₹5,347 million	8.1% margin
EBITDA	₹11,092 million	16.9% margin
EPS	Not available
OPM	Not available

What Changed

The company reported consolidated revenue of ₹65,686 million for Q4 2025-26, reflecting 12.6% YoY growth. EBITDA reached ₹11,092 million with a 16.9% margin, while PAT was ₹5,347 million at 8.1% margin. The Plumbing segment demonstrated robust performance with 25.1% YoY revenue growth and 40.5% EBITDA growth. However, Paints and Adhesives segment experienced EBITDA margin pressure, declining to 8.7%. The Board recommended a final dividend of Rs. 2.50 per share. Forward guidance indicates commercial production at the new CPVC resin plant (40,000 M.T. Phase I) is expected in Q4 2026-27, with full benefits anticipated from FY 2027-28.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Astral Limited	79.16	N/A	N/A	41,662.27
Bharat Electronics Limited	62.03	N/A	N/A	3,09,678.78
Hindustan Aeronautics Limited	33.73	N/A	N/A	2,93,338.09
Cummins India Limited	74.38	N/A	N/A	1,49,466.24

Astral Limited trades at a premium valuation compared to peers, with a P/E ratio of 79.16 versus BEL's 62.03 and Cummins India's 74.38.

Risks & Concerns

Margin pressure in Paints and Adhesives segment (EBITDA margin at 8.7%)

High valuation multiple relative to peers (P/E 79.16)

Forward guidance indicates benefits from new CPVC plant will materialize only from FY 2027-28

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	1,397	112.6	15.71
Q2FY25	1,370.4	108.7	15.33
Q1FY25	1,383.6	119.5	15.5
Q4FY24	1,625.1	181.3	17.94

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.