About -
Astral Pipes was established in 1996 with the aim of manufacturing plumbing & drainage systems in India. Today, it cover the needs of millions of households.
Astral has successfully established itself as one of India’s dominant
brands in the plastic piping segment.
Astral Pipes was established in 1996 with the aim of manufacturing plumbing & drainage systems in India. Today, it cover the needs of millions of households.
Astral has successfully established itself as one of India’s dominant
brands in the plastic piping segment.
Financial Summary -
Q3 FY22 (YoY)
Rev were at Rs.10,989 Cr.⬆️ 22.4%
EBITDA at Rs.1,976 Cr.⬆️ 3%
PAT at Rs.1,273 Cr.⬆️ 3.3%
Q3 FY22 (YoY)
Rev were at Rs.10,989 Cr.⬆️ 22.4%
EBITDA at Rs.1,976 Cr.⬆️ 3%
PAT at Rs.1,273 Cr.⬆️ 3.3%
Revenue Breakup -
Astral earns 76% from Piping & 24% from Adhesive.
Astral earns 76% from Piping & 24% from Adhesive.
▪️Pipes & Fittings:
Astral has been the pioneer of plastic pipes
& fittings in India.The pipes manufactured by Astral are used across
various applications including plumbing, sewage,agricultural, industrial, etc.
Astral has been the pioneer of plastic pipes
& fittings in India.The pipes manufactured by Astral are used across
various applications including plumbing, sewage,agricultural, industrial, etc.
▪️Adhesives & Sealants:
Astral has evolved to
become one of the leading player of adhesives &
sealants. They manufactures a diversified range of
adhesives, sealants, putties & construction aids are
used in varied applications like automotive, woodcare, construction, etc.
Astral has evolved to
become one of the leading player of adhesives &
sealants. They manufactures a diversified range of
adhesives, sealants, putties & construction aids are
used in varied applications like automotive, woodcare, construction, etc.
▪️Water Tanks:
In 2020, Astral has expanded its
product portfolio & entered into the
Water Tanks Segment with an acquisition of
"Sarita" an Aurangabad based trusted brand
of water tanks with decades of experience
&expertise in manufacturing water
tanks.
In 2020, Astral has expanded its
product portfolio & entered into the
Water Tanks Segment with an acquisition of
"Sarita" an Aurangabad based trusted brand
of water tanks with decades of experience
&expertise in manufacturing water
tanks.
Industry Overview -
The global PVC pipes industry is expected to exhibit CAGR of 4.47% during 2022-27 with the global market touching 29.7
mn tons by 2027.
Government of India initiatives such as Jal Jeevan Mission Urban scheme,
which aims to provide uniform water supply
The global PVC pipes industry is expected to exhibit CAGR of 4.47% during 2022-27 with the global market touching 29.7
mn tons by 2027.
Government of India initiatives such as Jal Jeevan Mission Urban scheme,
which aims to provide uniform water supply
in all 4738 urban local bodies with 2.86 crs household tap connections as well as liquid waste management in 500 AMRUT cities, will drive demand for PVC pipes.
Capex Update -
New plants at Bhubaneswar (for plumbing products), Hosur (water
tanks), Ahmedabad (valve products) & blow moulding water
tanks in Rajasthan & Santej will start from Q1FY23 onwards.
New plants at Bhubaneswar (for plumbing products), Hosur (water
tanks), Ahmedabad (valve products) & blow moulding water
tanks in Rajasthan & Santej will start from Q1FY23 onwards.
Construction of new adhesive plant in Dahej (Gujarat) will be fully
operational from Q4FY23.
operational from Q4FY23.
Key Triggers -
• Pick-up in construction activities expected to augment
growth in both pipes & adhesives.
• Launch of new products (water tank, valve) to help drive revenue of piping business.
• CPVC pipes price is expected to
rise due to its shortage & higher input cost.
• Pick-up in construction activities expected to augment
growth in both pipes & adhesives.
• Launch of new products (water tank, valve) to help drive revenue of piping business.
• CPVC pipes price is expected to
rise due to its shortage & higher input cost.
• In Adhesive segment management has a target of doubling the topline in the next 4-5 years.
• Astral is planning to launch sanitary ware & faucet products
from Q1FY23 onwards.
• Astral is planning to launch sanitary ware & faucet products
from Q1FY23 onwards.
Risks -
• Rise in Input cost can effect profitability.
• Any unexpected demand slowdown in housing
market will adversely affect growth in the pipe segment.
• Sharp & sudden fall in PVC resin prices
will adversely affect the profitability of the company.
• Rise in Input cost can effect profitability.
• Any unexpected demand slowdown in housing
market will adversely affect growth in the pipe segment.
• Sharp & sudden fall in PVC resin prices
will adversely affect the profitability of the company.
Conclusion -
The domestic market of India is huge & has potential to grow for Astral.
Indian plastic pipes & fittings industry is expected
to reach ₹500-550 billion by 2025 growing at a
CAGR of 10% from the current levels of ₹290-300 Bill.
The domestic market of India is huge & has potential to grow for Astral.
Indian plastic pipes & fittings industry is expected
to reach ₹500-550 billion by 2025 growing at a
CAGR of 10% from the current levels of ₹290-300 Bill.
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