Earnings Review
Astral Jan-Mar consol PAT falls 1% YoY, beats Street's view
This story was originally published at 17:53 IST on 21 May 2025
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--Astral Jan-Mar consol net profit INR 1.79 bln
--Analysts saw Astral Jan-Mar consol net profit INR 1.61 bln
--Astral Jan-Mar consol net profit INR 1.79 bln vs INR 1.82 bln year ago
--Astral Jan-Mar consol revenue INR 16.81 bln vs INR 16.25 bln year ago
--Astral FY25 consol net profit INR 5.24 bln vs INR 5.46 bln year ago
--Astral FY25 consol revenue INR 58.32 bln vs INR 56.41 bln year ago
--Astral to pay INR 2.25 per share final dividend
--Astral Jan-Mar plumbing revenue INR 12.27 bln vs INR 12.25 bln year ago
--Astral Jan-Mar paints, adhesives revenue INR 4.55 bln vs INR 4.00 bln
--Astral Jan-Mar consol EBITDA INR 3.11 bln vs INR 3.02 bln year ago
--Astral Jan-Mar consol EBITDA margin 18.5% vs 18.6% year ago
--Astral Jan-Mar plumbing ops EBITDA INR 2.50 bln, unchanged on year
--Astral Jan-Mar plumbing ops EBITDA margin 20.4%, unch on year
--Astral Jan-Mar paints, adhesives EBITDA INR 604 mln vs INR 514 mln
--Astral Jan-Mar paints, adhesives EBITDA margin 13.3% vs 12.9% year ago
By Shreya Shetty
MUMBAI – Astral Ltd. posted a marginal fall in its consolidated profit in the March quarter due to weak sales owing to low demand, intense competition, and inventory losses, though it beat the Street's view. The company's net profit fell more than 1% on year to INR 1.79 billion, beating the Street's projection of INR 1.61 billion.
Total revenue from operations for the March quarter rose nearly 4% on year to INR 16.81 billion, though it was lower than analyst expectation of INR 17.13 billion. Sequentially, the company's revenue rose over 20% while its consolidated net profit rose by 57%.
The increase in revenue was aided by growth in both the plumbing business, which houses verticals such as pipes, fittings, water tanks, and bathware, and the paints and adhesives business. Consolidated sales of its plumbing business rose marginally on year to INR 12.27 billion. Consolidated sales from its paints and adhesives business, which is a smaller segment, rose nearly 14% on year to INR 4.55 billion.
The bottom line for the financial year 2024-25 (Apr-Mar) fell 4% to INR 5.24 billion while the top line rose more than 3% to INR 58.32 billion.
Astral's consolidated earnings before interest, taxes, depreciation, and amortisation in the March quarter rose 3% on year to INR 3.11 billion from INR 3.02 billion a year ago. Astral posted growth in EBITDA for the March quarter despite weakness in overall demand in the polymer industry.
During FY25, the prices of the main raw materal used by the company were highly volatile and fell, severely affecting the top line, the company said. The company sells PVC pipes and the prices of its finished goods reflect the raw material prices. However, despite the downtrend in prices resulting in inventory losses for the company, it has maintained a decent EBITDA margin, the company said. Its consolidated EBITDA margin in the quarter fell to 18.5% from 18.6% a year ago.
The plumbing business' EBITDA remained unchanged on year at INR 2.50 billion in the March quarter. The EBITDA margin of the segment also remained unchanged at 20.4%. The EBITDA of the company's paints and adhesives business rose nearly 18% on year to INR 604 million. The EBITDA margin of this business rose to 13.3% from 12.9% a year ago.
Total expenses of the company rose more than 4% on year to INR 14.54 billion in the March quarter. The cost of materials consumed, which accounted for the largest chunk of expenses, rose 1% on year to INR 9.32 billion. The company's tax expenses for the quarter fell nearly 3% on year to INR 583 million.
The company will pay a final dividend of INR 2.25 per equity share for FY25. On Wednesday, shares of the company closed nearly 1% higher at INR 1,377.70 on the National Stock Exchange, before the company announced its earnings. End
Edited by Akul Nishant Akhoury
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