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Informist, Tuesday, Aug. 11, 2026

 

By Astha Oriel 

 

NEW DELHI – Astral Ltd. is expected to report a sharp on-year rise in its consolidated bottom line for the June quarter, while the top line is expected to rise moderately year-on-year, according to the brokerages tracking the company. A low base effect in the pipes business and higher other income are likely to lend support to the company's profitability, as per analysts. The higher realisations and increase in volumes, especially in the plumbing business, are likely to drive revenue. 

 

The company's consolidated net profit is expected to rise nearly 48% on year but decline more than 45% sequentially to INR 1.2 billion, according to the average of estimates by 10 brokerages. Motilal Oswal Financial Services Ltd. has the highest net profit estimate at INR 1.37 billion, whereas the lowest net profit estimate is INR 896 million from Elara Securities (India) Pvt Ltd. If realised, this is likely to be the second consecutive quarter of an on-year rise in net profit, and the pace of growth will be higher than in the trailing quarter.

 

The company's consolidated revenue from operations is expected to rise over 17% on year but fall nearly 24% sequentially to INR 15.94 billion, according to the average of brokerages' estimates. Anand Rathi Share and Stock Brokers Ltd. has the highest net sales estimate at INR 16.64 billion, and JM Financial Institutional Securities Pvt. Ltd. has the lowest at INR 15.53 billion. If the estimate holds, this would be the fourth consecutive quarter of year-on-year top line growth. However, the pace of growth would moderate slightly from the trailing quarter.

 

Motilal Oswal Financial Services expects revenue from the pipes business to rise 21% on year. It expects pipes business volumes to rise 15% on year to over 64,000 tonnes. The net sales realisation from the pipes business is expected to rise 5% on year to INR 179 per kg. Meanwhile, ICICI Securities Ltd. and JM Financial Institutional Securities expect the company's pipes volume to rise 3% on year.

 

For its adhesives and paints business, Motilal Oswal expects revenue to rise 15% on year. ICICI Securities expects consolidated adhesives revenue to grow around 15% on year. In the year-ago quarter, the company's revenue from plumbing pipes business was INR 9.54 billion, with sales volume at 56,074 tonnes. The revenue from paints and adhesives operations was INR 4.07 billion. 

 

The earnings before interest, tax, depreciation, and amortisation are expected to be INR 2.33 billion, according to the average of estimates by eight brokerages. Motilal Oswal Financial Services has the highest EBITDA estimate at INR 2.65 billion, whereas the lowest EBITDA estimate is INR 2.02 billion by Elara Securities. The company's EBITDA in the year-ago quarter was INR 1.94 billion, with an EBITDA margin of 14.3%. 

 

Analysts are divided over the EBITDA margin. Four brokerages expect the company's EBITDA margin to expand to 14.8-16.5%, whereas Prabhudas Lilladher Pvt. Ltd. and Anand Rathi Share and Stock Brokers Ltd. expect the company's EBITDA margin to decline to 14% and 13.9%, respectively. 

 

The company will announce its June quarter results on Wednesday. On Tuesday, shares of the company closed 0.8% lower at INR 1,424 on the National Stock Exchange. This is nearly 8% lower since the company announced its March quarter earnings on May 18.

 

Of the 13 brokerage reports on the company available with Informist, 10 have a 'buy' rating on the stock with an average target price of INR 1,749, nearly 23% higher than the current share price. Two brokerages have a 'hold' recommendation with an average target price of INR 1,643. One has a 'sell' recommendation with a target price of INR 1,363. 

 

Following are the June quarter earnings estimates for Astral, in INR billion, based on reports from 10 broking firms in descending order of net profit estimate:

 

Brokerage	Net sales	Net profit	EBITDA
Motilal Oswal Financial Services Ltd.	16.61	1.37	2.65
360 ONE Capital Market Pvt. Ltd.	15.99	1.37
IDBI Capital Market Services Ltd.	15.65	1.27	2.58
Anand Rathi Share and Stock Brokers Ltd.	16.64	1.23
HDFC Securities Ltd.	16.03	1.23	2.38
ICICI Securities Ltd.	15.62	1.20	2.29
JM Financial Institutional Securities Pvt. Ltd.	15.53	1.17	2.33
Nuvama Wealth Management Ltd.	15.55	1.17	2.23
Prabhudas Lilladher Pvt. Ltd.	15.71	1.10	2.20
Elara Securities (India) Pvt. Ltd.	16.07	896	2.02
Average	15.94	1.20	2.33

 

End

 

Edited by Himanshi Gupta

 

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