Astral Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Plastic Products: 71.2% • Adhesives: 28.8%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 22.1%
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 51.8% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.61x)
- Company has delivered good sales growth of 15.6% CAGR over last 5 years
CONS
- Stock is trading at 10.6x its book value
- Company has delivered a poor profit growth of 5.5% over past five years
- Expensive relative to growth - PEG of 13.2
- Rich enterprise valuation - EV/EBITDA of 38.0x
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SUPREMEIND | 3500.65 | 43.07 | 44467.66 | 1.03 | 280.72 | 38.76 | 2717.66 | 4.16 | 21.49 | 17.33 |
| ASTRAL | 1460.00 | 68.15 | 39222.92 | 0.27 | 120.20 | 51.77 | 1578.00 | 15.93 | 19.95 | 14.65 |
| GRWRHITECH | 6911.40 | 41.40 | 16056.84 | 0.17 | 132.65 | 59.78 | 633.08 | 27.90 | 18.08 | 27.17 |
| SHAILY | 3371.35 | 87.71 | 15506.61 | 0.09 | 48.01 | 16.75 | 280.67 | 13.77 | 29.46 | 29.59 |
| FINPIPE | 157.05 | 15.83 | 9744.59 | 1.75 | 114.52 | 16.67 | 883.58 | -15.30 | 12.73 | 12.09 |
| TIMETECHNO | 185.00 | 18.64 | 9132.25 | 0.81 | 1178.60 | 1120.71 | 16927.10 | 1151.40 | 17.37 | 13.25 |
| KINGFA | 6211.15 | 37.30 | 8416.97 | 0.00 | 80.21 | 101.58 | 688.57 | 49.06 | 30.70 | 16.12 |
| RESPONIND | 169.25 | 44.54 | 4512.35 | 0.06 | 2.74 | -94.51 | 192.87 | -43.06 | 10.76 | 12.09 |
| POLYPLEX | 1124.45 | 22.73 | 3529.93 | 0.27 | 171.07 | 386.02 | 2253.62 | 29.62 | 1.51 | 13.15 |
| PRINCEPIPE | 279.60 | 30.27 | 3091.29 | 0.36 | 337.49 | 6900.41 | 6094.18 | 949.97 | 6.20 | 12.66 |
| NILKAMAL | 2067.60 | 24.75 | 3085.38 | 0.97 | 24.40 | 59.20 | 819.73 | -7.18 | 10.76 | 9.44 |
| XPROINDIA | 1265.35 | 90.93 | 2969.83 | 0.16 | 7.63 | 239.10 | 174.42 | 20.37 | 4.00 | 9.08 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | |
| 1,082 | 1,143 | 1,165 | 1,334 | 1,169 | 1,160 | 1,178 | 1,380 | 1,176 | 1,321 | 1,304 | 1,706 | 1,428 | |
| Operating Profit | 202 | 220 | 205 | 292 | 214 | 210 | 220 | 302 | 185 | 257 | 237 | 383 | 150 |
| OPM % | 15.71% | 16.15% | 14.97% | 17.94% | 15.50% | 15.33% | 15.71% | 17.96% | 13.58% | 16.28% | 15.39% | 18.33% | 9.51% |
| 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 |
| Profit before Tax | 162 | 177 | 154 | 241 | 163 | 149 | 154 | 236 | 110 | 180 | 144 | 297 | 163 |
| Tax % | 26.18% | 25.51% | 26.38% | 24.86% | 26.73% | 26.95% | 26.96% | 24.67% | 27.87% | 25.07% | 25.36% | 28.19% | 26.17% |
| Net Profit | 0 | 0 | 0 | 0 | 120 | 109 | 113 | 178 | 79 | 135 | 108 | 213 | 120 |
| 4.46 | 4.88 | 4.23 | 6.76 | 4.48 | 4.10 | 4.25 | 6.67 | 3.02 | 5.02 | 4.01 | 7.93 | 4.47 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,895 | 2,073 | 2,507 | 2,578 | 3,176 | 4,394 | 5,158 | 5,641 | 5,832 | 6,569 | 6,785 | |
| 1,631 | 1,756 | 2,122 | 2,135 | 2,532 | 3,639 | 4,349 | 4,723 | 4,886 | 5,507 | 5,758 | |
| Operating Profit | 264 | 317 | 385 | 443 | 644 | 755 | 810 | 918 | 946 | 1,062 | 1,027 |
| OPM % | 13.92% | 15.28% | 15.35% | 17.18% | 20.29% | 17.19% | 15.70% | 16.28% | 16.22% | 16.17% | 15.14% |
| 8 | 13 | 15 | 12 | 25 | 35 | 25 | 42 | 41 | 25 | 28 | |
| Interest | 18 | 22 | 32 | 39 | 13 | 13 | 40 | 29 | 41 | 64 | 58 |
| Depreciation | 50 | 57 | 81 | 108 | 116 | 127 | 178 | 198 | 243 | 292 | 295 |
| Profit before Tax | 201 | 248 | 283 | 306 | 533 | 648 | 615 | 734 | 702 | 731 | 784 |
| Tax % | 27.98% | 29.20% | 30.38% | 18.46% | 23.41% | 24.38% | 25.31% | 25.63% | 26.14% | 26.81% | 26.53% |
| Net Profit | 145 | 176 | 197 | 250 | 408 | 490 | 460 | 546 | 519 | 535 | 576 |
| EPS | 12.08 | 14.62 | 13.01 | 12.34 | 20.13 | 18.01 | 17.00 | 20.30 | 19.47 | 19.95 | — |
| Dividend Payout % | 4.14% | 4.10% | 4.29% | 6.09% | 9.94% | 12.46% | 20.62% | 18.47% | 19.26% | 20.05% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 15%
- 5 Years:
- 16%
- 3 Years:
- 8%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 18%
- 5 Years:
- 6%
- 3 Years:
- 6%
STOCK PRICE CAGR
- 10 Years:
- 21%
- 5 Years:
- -2%
- 3 Years:
- -10%
- 1 Year:
- -2%
RETURN ON EQUITY
- 10 Years:
- 19%
- 5 Years:
- 18%
- 3 Years:
- 16%
- Last Year:
- 14%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 15 | 20 | 20 | 27 | 27 | 27 | 27 |
| Minority Interest | 12 | 14 | 15 | 17 | 21 | 28 | 248 | 80 | 76 | 0 |
| 835 | 1,005 | 1,193 | 1,487 | 1,875 | 2,315 | 2,682 | 3,160 | 3,588 | 4,031 | |
| 229 | 189 | 274 | 167 | 66 | 90 | 82 | 107 | 207 | 219 | |
| Trade Payables | 287 | 349 | 390 | 475 | 517 | 748 | 800 | 872 | 859 | 1,155 |
| 86 | 107 | 215 | 128 | 173 | 186 | 523 | 250 | 291 | 356 | |
| Total Liabilities | 1,462 | 1,675 | 2,099 | 2,289 | 2,673 | 3,387 | 4,362 | 4,496 | 5,048 | 5,789 |
| 741 | 842 | 1,105 | 1,255 | 1,314 | 1,496 | 1,950 | 2,299 | 2,712 | 2,939 | |
| Capital Work in Progress | 25 | 73 | 81 | 44 | 57 | 123 | 126 | 151 | 116 | 89 |
| 272 | 357 | 397 | 540 | 472 | 733 | 875 | 913 | 1,011 | 1,117 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 376 | 435 | 475 | |
| Cash & Bank | 18 | 44 | 98 | 130 | 476 | 642 | 682 | 610 | 608 | 943 |
| 405 | 359 | 418 | 319 | 354 | 393 | 729 | 147 | 166 | 225 | |
| Total Assets | 1,462 | 1,675 | 2,099 | 2,289 | 2,673 | 3,387 | 4,362 | 4,496 | 5,048 | 5,789 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 158 | 345 | 419 | 487 | 780 | 711 | 722 | 823 | 630 | 1,117 | |
| Cash from Investing | -158 | -185 | -293 | -318 | -454 | 72 | -480 | -541 | -513 | -506 |
| Cash from Financing | 12 | -71 | -5 | -163 | -153 | -44 | -191 | -202 | -118 | -328 |
| -32 | 25 | 44 | -75 | 57 | 571 | -113 | 80 | -1 | 282 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-25 - Revised Voting Result
2026-08-24 - Astral Limited has informed the Exchange regarding voting results of Annual General Meeting held on August 24, 2026
2026-08-24 - Astral Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 24, 2026
2026-08-24 - Astral Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 24, 2026
2026-08-21 - Astral Limited has informed the Exchange about Copy of Newspaper Publication regarding transfer of Equity Shares to Investor Education Protection Fund (IEPF)
2026-08-18 - Astral Limited has informed the Exchange about Transcript of Earning Call held on 12th August, 2026
2026-08-13 - Astral Limited has informed the Exchange about Copy of Newspaper Publication of Unaudited Financial Result for the First quarter Ended on 30th June, 2026
2026-08-12 - Astral Limited has informed the Exchange about Link of Recording
2026-08-12 - Astral Limited has informed the Exchange regarding a press release dated August 12, 2026, titled "Press Release ".
News
Recent coverage and analyst commentary for ASTRAL
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Astral Ltd.
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