Astral Limited (ASTRAL) AI Stock Analysis

• Market Cap: ₹448.97B
• Dividend Yield: 0.26%
• Average Volume (3M): 24.14K
• Price to Earnings (P/E): 86.6
• Beta (1Y): 0.93
• Revenue Growth: 4.66%
• EPS Growth: -3.12%
• Country: IN
• Employees: 4,862
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Construction
• EPS (TTM): 4.00
• Shares Outstanding: 268,650,180
• 10 Day Avg. Volume: 24,960
• 30 Day Avg. Volume: 24,144
• PEG Ratio: -16.45
• Price to Book (P/B): 9.72
• Price to Sales (P/S): 6.03
• P/FCF Ratio: 414.79
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,755.50
• Price Target Upside: 18.04% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 20.46
• Revenue Forecast (FY): ₹64.45B

• Rating: 69 Neutral
• Price Target: ₹1,516.00 ▲(1.93% Upside)
• Action: Reiterated Date: 11/07/25
• Date: Action: Reiterated 11/07/25

Astral Limited's strong financial performance is the most significant factor, supported by robust revenue growth and efficient operations. However, the high valuation and overbought technical indicators present potential risks. The absence of earnings call data and corporate events limits further insights.

Positive Factors

Distribution-led brand and market presence

A broad dealer/retailer distribution model combined with strong brand pull in plumbing and adhesives creates durable market access and shelf presence. This supports steady share gains across residential, commercial and infrastructure end-markets and sustains pricing and rollout of new SKUs over time.

Healthy balance sheet and low leverage

Low debt-to-equity and a solid equity ratio give the company financial flexibility for capex, network expansion or acquisitions, and resilience through construction cycles. Strong capital structure reduces refinancing risk and supports consistent investment in distribution and product development.

Strong cash generation and margin profile

Consistent operating cash flow and improving gross margins with robust EBIT/EBITDA indicate efficient operations and pricing power. Reliable cash generation funds working capital, organic growth and maintenance capex without heavy reliance on external financing, underpinning durable fundamentals.

Negative Factors

Net profit margin pressure

A declining net profit margin, despite gross margin improvement, signals rising SG&A or other operating costs that could erode long-term profitability. If persistent, margin pressure may limit free cash flow growth and constrain returns even as top-line increases continue.

Volatile free cash flow growth

Volatility in free cash flow growth means cash available after investments can swing year-to-year, complicating capital allocation. That variability can restrict dividend increases, bolt-on investments or buffer capacity during downturns despite generally healthy operating cash flow.

Modest revenue growth with EPS decline

Mid-single-digit revenue growth coupled with negative EPS growth suggests limited top-line acceleration and margin/headline earnings pressure. Over the medium term this may indicate tougher market penetration or cost pass-through limits versus peers, constraining EPS recovery.

Astral Limited Business Overview & Revenue Model

Company Description

Astral Limited, together with its subsidiaries, manufactures and markets pipes, water tanks, and adhesives and sealants in India and internationally. The company operates in Plastic and Adhesives segments. It offers chlorinated poly vinyl chloride (CPVC) and plumbing systems under the Astral CPVC Pro, Astral Pex-a PRO, Astral MultiPro, Astral EcoPro, and Astral Aquarius names for residential and industrial applications. It also provides ASTRAL Silencio low noise system; Astral DrainMaster, a drainage system; ASTRAL Foamcore pipes for underground systems; ASTRAL DrainHulk manhole drainage chambers; ASTRAL Underground drainage systems; and D-Rex double walled corrugated pipes. In addition, the company offers ASTRAL Chem PRO industrial piping systems; and Aquarius Plus uPVC industrial piping systems. Further, it provides Pre-StiRex and Plus + StiRex ducts for post-tensioning of bridges; Bore-Well column pipes, Case-Well uPVC casing pipes, Aquasafe agriculture pressure pipes, and GeoRex s perforated sub-surface drainage for agriculture; ASTRAL high density poly ethylene pipes; Astral Fire Pro, a CPVC piping system for fire sprinklers; water tanks under the Opta, Cleo, Vito, Sylo, and Sarita brand names; and surface drainage systems under the Astral Hauraton brand name. Additionally, the company offers Astral MultiRex polyolefin cable channels; Astral Wire Guard conduit pipes; and Astral TeleRex pipes for cable protection. It also offers ancillary products, including clamps and hangers for pipes and cables; Astral INSUPro XLPE insulation for piping; and air admittance valve, basin traps, and back flow preventer valve. The company was formerly known as Astral Poly Technik Limited and changed its name to Astral Limited in April 2021. Astral Limited was incorporated in 1996 and is based in Ahmedabad, India.

How the Company Makes Money

Astral Limited generates revenue through a multi-faceted business model that includes direct sales of its consumer products to retailers and wholesalers, as well as e-commerce platforms. The company capitalizes on its strong brand recognition and product quality to maintain premium pricing. Key revenue streams include retail sales from personal care items and household goods, along with bulk sales to industrial clients. Additionally, ASTRAL may engage in strategic partnerships with distributors and online marketplaces to expand its reach and increase sales volume. Cost management and efficient supply chain operations further enhance profitability, allowing the company to effectively navigate market fluctuations.

Astral Limited Financial Statement Overview

Summary

Astral Limited shows strong financial health with consistent revenue growth and efficient operations. The balance sheet is robust with low leverage, and cash flow management is effective. Despite slight pressure on the net profit margin, the overall financial position remains strong.

Income Statement

Astral Limited has demonstrated strong revenue growth with a consistent upward trajectory over the years. The gross profit margin has improved, indicating efficient cost management. However, the net profit margin has slightly decreased, suggesting increased expenses or cost of goods sold. The EBIT and EBITDA margins are robust, reflecting strong operational efficiency.

Balance Sheet

The company maintains a healthy balance sheet with a low debt-to-equity ratio, indicating prudent financial leverage. The return on equity is strong, showcasing effective utilization of shareholder funds. The equity ratio is solid, reflecting a strong capital structure and low financial risk.

Cash Flow

Astral Limited's cash flow position is stable, with a positive trend in operating cash flow. The free cash flow growth rate has been volatile, but the company maintains a healthy operating cash flow to net income ratio, indicating good cash generation relative to profits. The free cash flow to net income ratio suggests efficient capital expenditure management.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	58.10B	58.32B	56.41B	51.59B	43.94B	31.76B
Gross Profit	22.59B	22.83B	21.55B	17.05B	14.53B	11.96B
EBITDA	8.70B	9.21B	9.13B	8.04B	7.49B	6.38B
Net Income	4.84B	5.24B	5.46B	4.57B	4.84B	4.04B
Balance Sheet
Total Assets	0.00	50.56B	44.98B	43.73B	33.87B	26.73B
Cash, Cash Equivalents and Short-Term Investments	6.08B	6.08B	6.09B	6.82B	6.42B	4.76B
Total Debt	0.00	2.33B	1.19B	871.00M	983.00M	802.00M
Total Liabilities	-36.93B	13.63B	12.29B	14.14B	10.23B	7.56B
Stockholders Equity	36.93B	36.17B	31.88B	27.11B	23.37B	18.96B
Cash Flow
Free Cash Flow	0.00	848.00M	2.69B	2.46B	1.97B	4.92B
Operating Cash Flow	0.00	6.30B	8.23B	5.57B	5.43B	6.64B
Investing Cash Flow	0.00	-5.13B	-5.41B	-4.80B	715.00M	-4.54B
Financing Cash Flow	0.00	-1.18B	-2.02B	-1.91B	-440.00M	-1.53B

Astral Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1487.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASTRAL, the sentiment is Positive. The current price of 1487.25 is below the 20-day moving average (MA) of 1605.25, below the 50-day MA of 1501.92, and above the 200-day MA of 1463.64, indicating a bullish trend. The MACD of 51.29 indicates Positive momentum. The RSI at 62.27 is Neutral, neither overbought nor oversold. The STOCH value of 64.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ASTRAL.

Astral Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CASTROLIND	77 Outperform	₹183.09B	20.06	―	6.86%	6.83%	8.79%
ASTRAL	69 Neutral	₹448.97B	86.58	―	0.26%	4.66%	-3.12%
VGUARD	67 Neutral	₹136.11B	62.71	―	0.45%	6.34%	-2.25%
AWL	65 Neutral	₹233.49B	28.59	―	―	27.53%	10.43%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
VOLTAS	61 Neutral	₹476.01B	132.41	―	0.50%	-1.46%	-1.15%
CROMPTON	57 Neutral	₹157.98B	41.30	―	1.16%	0.73%	-5.88%

Astral Limited Corporate Events

Astral to Engage Global Funds at UBS Emerging India Midcaps Day in Singapore

Astral Limited has scheduled one-to-one and group meetings with a roster of global institutional investors during the UBS Emerging India Midcaps Corporate Day in Singapore on 9 and 10 March 2026. The company disclosed that the interactions, which include asset managers such as Aberdeen, Wellington, and GIC Singapore, will not involve any unpublished price-sensitive information and form part of its ongoing investor engagement efforts.

By formally notifying the stock exchanges and posting the information on its website, Astral underscores its adherence to SEBI’s disclosure norms and transparency in investor communications. The planned meetings are likely to support the company’s visibility among international funds focused on Indian midcaps, which could, over time, influence market perception and deepen its institutional shareholder base.

Astral Publishes Unaudited Q3 and Nine-Month FY2025 Results in Newspapers

Astral Limited has notified the stock exchanges that it has published newspaper advertisements of its unaudited financial results for the quarter and nine months ended 31 December 2025, in compliance with SEBI’s disclosure regulations. The results were carried in the Financial Express in both English and Gujarati on 6 February 2026 and have also been made available on the company’s website, reinforcing its regulatory transparency and providing investors and other stakeholders with formal access to its latest financial performance disclosures.