Announcement • May 07
Astral Limited to Report Q4, 2026 Results on May 18, 2026 Astral Limited announced that they will report Q4, 2026 results at 12:08 PM, Indian Standard Time on May 18, 2026 Reported Earnings • Feb 06
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: EPS: ₹4.01 (down from ₹4.25 in 3Q 2025). Revenue: ₹15.5b (up 11% from 3Q 2025). Net income: ₹1.08b (down 5.6% from 3Q 2025). Profit margin: 6.9% (down from 8.2% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has remained flat. Announcement • Jan 28
Astral Limited to Report Q3, 2026 Results on Feb 05, 2026 Astral Limited announced that they will report Q3, 2026 results on Feb 05, 2026 Declared Dividend • Nov 07
First half dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 11th November 2025 Payment date: 1st January 1970 Dividend yield will be 0.2%, which is lower than the industry average of 0.4%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 36% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 90% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 06
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: ₹5.02 (up from ₹4.10 in 2Q 2025). Revenue: ₹15.8b (up 15% from 2Q 2025). Net income: ₹1.35b (up 23% from 2Q 2025). Profit margin: 8.5% (up from 8.0% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.8%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Oct 28
Astral Limited to Report Q2, 2026 Results on Nov 05, 2025 Astral Limited announced that they will report Q2, 2026 results on Nov 05, 2025 Announcement • Sep 11
Astral Limited (NSEI:ASTRAL) agreed to acquire remaining 20% stake in Anabha Ventures Private Limited from existing shareholder for INR 750 million. Astral Limited (NSEI:ASTRAL) agreed to acquire remaining 20% stake in Astral Coatings Private Limited from existing shareholder for INR 750 million on September 10, 2025. A cash consideration of INR 750 million will be paid by Astral Limited. As part of consideration, INR 750 million is paid towards common equity of Gem Paints Private Limited. Upon completion, Astral Limited will own 100% stake in Gem Paints Private Limited.
For the period ending March 31, 2025, Gem Paints Private Limited reported total revenue of INR 1.96 billion.
The transaction is expected to be completed on or before October 31, 2025. Announcement • Sep 06
Astral Limited (NSEI:ASTRAL) agreed to acquire remaining 5% stake in Seal It Services Limited for £0.4 million. Astral Limited (NSEI:ASTRAL) agreed to acquire remaining 5% stake in Seal It Services Limited for £0.4 million on September 4, 2025. A cash consideration of £0.4 million will be paid by Astral Limited. Upon completion, Astral Limited will own 100% stake in Seal It Services Limited.
For the period ending March 31, 2025, Seal It Services Limited reported total revenue of £33.44 million.
The deal has been approved by the board of Astral Limited. The transaction is expected to be completed on or before September 30, 2025. Board Change • Sep 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Tanvi Rangwala was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 26
Astral Limited Announces Directorate Appointments Astral Limited at it AGM, held on August 25, 2025, approved appointment of Mr. Rajendra Mariawala as an independent director and Mrs. Tanvi Rangwala as an independent director . Announcement • Aug 12
Astral Limited (NSEI:ASTRAL) agreed to acquire 80% stake in Nexelon Chem Private Limited for INR 0.08 million. Astral Limited (NSEI:ASTRAL) agreed to acquire 80% stake in Nexelon Chem Private Limited for INR 0.08 million on August 11, 2025. A cash consideration of INR 0.08 million will be paid by Astral Limited. As part of the agreement, a further total investment from Astral Limited amounting to INR 1.2 billion over a period of time and the capital structure will be decided within the next 60 days.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. The transaction is expected to be completed within 2-3 months. Declared Dividend • Aug 06
Final dividend of ₹2.25 announced Dividend of ₹2.25 is the same as last year. Ex-date: 14th August 2025 Payment date: 30th August 2025 Dividend yield will be 0.3%, which is lower than the industry average of 0.4%. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but not covered by cash flows (119% cash payout ratio). The dividend has increased by an average of 37% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 64% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 04
Astral Limited, Annual General Meeting, Aug 25, 2025 Astral Limited, Annual General Meeting, Aug 25, 2025, at 11:00 Indian Standard Time. Reported Earnings • Aug 03
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: EPS: ₹19.50 (down from ₹20.33 in FY 2024). Revenue: ₹58.3b (up 3.4% from FY 2024). Net income: ₹5.24b (down 4.1% from FY 2024). Profit margin: 9.0% (in line with FY 2024). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Aug 02
Astral Limited to Report Q1, 2026 Results on Aug 11, 2025 Astral Limited announced that they will report Q1, 2026 results on Aug 11, 2025 Reported Earnings • May 22
Full year 2025 earnings released: EPS: ₹19.50 (vs ₹20.33 in FY 2024) Full year 2025 results: EPS: ₹19.50 (down from ₹20.33 in FY 2024). Revenue: ₹58.7b (up 4.1% from FY 2024). Net income: ₹5.24b (down 4.1% from FY 2024). Profit margin: 8.9% (in line with FY 2024). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Announcement • May 13
Astral Limited to Report Q4, 2025 Results on May 21, 2025 Astral Limited announced that they will report Q4, 2025 results at 12:08 PM, Indian Standard Time on May 21, 2025 Announcement • Apr 01
Astral Limited Announces the Resignation of Ashok Cherian as Chief Technology Officer, with Effect from 31 March 2025 Astral Limited announced Mr. Ashok Cherian, Chief Technology Officer, has resigned from the Company, to pursue career outside the company, with effect from 31 March 2025. Reported Earnings • Jan 31
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: ₹4.25 (up from ₹4.23 in 3Q 2024). Revenue: ₹14.1b (up 2.8% from 3Q 2024). Net income: ₹1.14b (flat on 3Q 2024). Profit margin: 8.1% (down from 8.3% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jan 27
Astral Limited Announces Resignation of Prakash Tripathi as Senior Vice President - Sales & Marketing Astral Limited announced the resignation of Mr. Prakash Tripathi as Senior Vice President - Sales & Marketing with effect from January 27, 2025, due to personal reasons. Announcement • Jan 23
Astral Limited to Report Q3, 2025 Results on Jan 30, 2025 Astral Limited announced that they will report Q3, 2025 results on Jan 30, 2025 Announcement • Jan 21
Astral Limited Announces Commencement of Commercial Production with Dispatch of SWR (Drain Master) Fittings Astral Limited informed that as a part of commencement of commercial production Ghiloth Plant has started to Dispatch SWR (Drain master) fittings. Reported Earnings • Nov 08
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: ₹4.10 (down from ₹4.88 in 2Q 2024). Revenue: ₹13.7b (flat on 2Q 2024). Net income: ₹1.10b (down 16% from 2Q 2024). Profit margin: 8.0% (down from 9.6% in 2Q 2024). Revenue missed analyst estimates by 7.4%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Announcement • Oct 31
Astral Limited to Report Q2, 2025 Results on Nov 07, 2024 Astral Limited announced that they will report Q2, 2025 results on Nov 07, 2024 Announcement • Aug 01
Astral Limited to Report Q1, 2025 Results on Aug 08, 2024 Astral Limited announced that they will report Q1, 2025 results at 4:00 PM, Indian Standard Time on Aug 08, 2024 Declared Dividend • Jul 27
Final dividend of ₹2.25 announced Dividend of ₹2.25 is the same as last year. Ex-date: 16th August 2024 Payment date: 22nd September 2024 Dividend yield will be 0.2%, which is lower than the industry average of 0.4%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 38% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 86% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 26
Astral Limited, Annual General Meeting, Aug 23, 2024 Astral Limited, Annual General Meeting, Aug 23, 2024, at 11:00 Indian Standard Time. Reported Earnings • Jul 26
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹20.33 (up from ₹16.52 in FY 2023). Revenue: ₹56.4b (up 9.4% from FY 2023). Net income: ₹5.46b (up 23% from FY 2023). Profit margin: 9.7% (up from 8.6% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 5.4%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 02
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₹91m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Recent Insider Transactions • Jul 02
CFO & Whole Time Director recently sold ₹61m worth of stock On the 26th of June, Hiranand Savlani sold around 25k shares on-market at roughly ₹2,428 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Hiranand's only on-market trade for the last 12 months. Recent Insider Transactions • Jun 08
Independent Director recently sold ₹1.7m worth of stock On the 3rd of June, Viral Jhaveri sold around 777 shares on-market at roughly ₹2,149 per share. This transaction amounted to 44% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹2.6m. Insiders have been net sellers, collectively disposing of ₹125m more than they bought in the last 12 months. Reported Earnings • May 18
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹20.33 (up from ₹16.52 in FY 2023). Revenue: ₹56.4b (up 9.4% from FY 2023). Net income: ₹5.46b (up 23% from FY 2023). Profit margin: 9.7% (up from 8.6% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 5.4%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 18
Astral Limited Recommends Final Dividend for the Year Ended 31 March, 2024 The board of directors of Astral Limited at its meeting held on 17 May, 2024, Recommended final dividend of INR 2.25 per equity share of INR 1 each (face value) for the year ended 31st March, 2024 subject to approval of Members at upcoming Annual General Meeting. The Company will inform in due course, the date of 28th Annual General Meeting and the date from which dividend will be paid or warrants thereof will be dispatched to the Members. Announcement • May 11
Astral Limited to Report Q4, 2024 Results on May 17, 2024 Astral Limited announced that they will report Q4, 2024 results on May 17, 2024 Reported Earnings • Jan 31
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: ₹4.23 (up from ₹3.47 in 3Q 2023). Revenue: ₹13.8b (up 8.6% from 3Q 2023). Net income: ₹1.14b (up 22% from 3Q 2023). Profit margin: 8.2% (up from 7.3% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 22
Astral Limited to Report Q3, 2024 Results on Jan 30, 2024 Astral Limited announced that they will report Q3, 2024 results on Jan 30, 2024 New Risk • Dec 06
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₹59m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 20
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: ₹4.88 (up from ₹2.63 in 2Q 2023). Revenue: ₹13.8b (up 18% from 2Q 2023). Net income: ₹1.31b (up 86% from 2Q 2023). Profit margin: 9.5% (up from 6.0% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.3%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 19
Astral Limited Approves Interim Dividend for the Financial Year 2023-24 Astral Limited at its board meeting held on October 18, 2023 approved Interim Dividend for the financial year 2023-24 at the rate of INR 1.50 per share of face value of INR 1/- each. The Record Date for determining the shareholders entitled for payment of the said Interim Divided has been fixed as 27th October, 2023. The Interim Divided shall be paid to the eligible shareholders after 27th October, 2023 within 30 days of date of declaration. Announcement • Oct 11
Astral Limited to Report Q2, 2024 Results on Oct 18, 2023 Astral Limited announced that they will report Q2, 2024 results on Oct 18, 2023 Board Change • Sep 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CFO & Whole Time Director Hiranand Savlani was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 12
Astral Limited Announces Directorate Appointments Astral Limited at its AGM held on August 11, 2023, considered and approved appointment of Mr. Kairav Engineer as Whole Time Director of the Company and appointment of Mr. Hiranand Savlani as Whole Time Director and ChiefFinancial Officer of the Company. Announcement • Aug 05
Astral Limited to Report Q1, 2024 Results on Aug 11, 2023 Astral Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Announcement • Aug 02
Astral Limited (BSE:532830) has entered into definitive agreements to acquire 51% stake in Operating paint business of Gem Paints from Gem Paints Limited. Astral Limited (BSE:532830) has entered into definitive agreements to acquire 51% stake in Operating paint business of Gem Paints from Gem Paints Limited for INR 1.9 billion on April 1, 2022. INR 1940 million for 51% equity stake of Operating Paint Business of Gem Paints to be acquired post demerger of Operating Paint Business of Gem Paints Private Limited. The Operating Paint Business of Gem Paints Private Limited is proposed to be demerged to a wholly owned subsidiary of Gem Paints Private Limited viz. Esha Paints Private Limited. Upon the completion of demerger, Astral will acquire 51% equity shares of Esha Paints Private Limited against the redemption of OCDs. The balance 49% equity stake will be acquired by Astral over a period of 5 years in tranches as per the Share Purchase Agreement entered between the parties. Upon completion of demerger of Operating Paint Business of Gem Paints, Astral shall acquire 51% equity stake of Resulting Company (Esha Paints Private Limited). Astral Board of Directors in their meeting held today approved to acquire 51% controlling equity stake in Operating Paint Business of Gem Paints Private Limited. As of July 17, 2023, National Company Law Tribunal, Bengaluru Bench sanctioned the Scheme of Arrangement (Scheme) between Gem Paints Private Limited (transferor company) and Esha Paints Private Limited (Transferee Company) and their respective shareholders and creditors. The acquisition of 51% equity stake in the Operating Paint Business of Gem Paints Private Limited is expected upon completed upon completion of demerger March 31, 2023 (tentative). Rajeev Vidhani and Anand Mehta of Khaitan & Co. provided due diligence to Astral Limited.Astral Limited (BSE:532830) has entered into definitive agreements to acquire 51% stake in Operating paint business of Gem Paints from Gem Paints Limited on August 1, 2023. The name of Esha Paints Private Limited stands changed to Gem Paints Private Limited subject to necessary approvals. Balance 49% equity stake will be acquired by Astral over a period of 5 years in tranches, as per the Share Purchase Agreement entered between the parties. Upcoming Dividend • Jul 28
Upcoming dividend of ₹2.25 per share at 0.2% yield Eligible shareholders must have bought the stock before 04 August 2023. Payment date: 10 September 2023. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.4%). Reported Earnings • Jul 18
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₹16.52 (down from ₹18.01 in FY 2022). Revenue: ₹51.6b (up 17% from FY 2022). Net income: ₹4.44b (down 8.3% from FY 2022). Profit margin: 8.6% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.3%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 15
Astral Limited, Annual General Meeting, Aug 11, 2023 Astral Limited, Annual General Meeting, Aug 11, 2023, at 11:00 Indian Standard Time. Agenda: To consider the Audited Financial Statements of the Company for the financial year ended March 31, 2023, together with the reports of Board of Directors and Auditors thereon; to consider the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2023, together with the Report of the Auditors thereon; to confirm Interim Dividend declared by the Board of Directors and to declare Final Dividend on equity shares for the financial year ended on March 31, 2023; to consider re-appointment of Mrs. Jagruti S. Engineer, who retires by rotation and being eligible, offers herself for re-appointment; and to consider other matters. Recent Insider Transactions • Jul 04
Chief Financial Officer recently sold ₹47m worth of stock On the 30th of June, Hiranand Savlani sold around 24k shares on-market at roughly ₹1,979 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹95m. This was Hiranand's only on-market trade for the last 12 months. Recent Insider Transactions • Jun 17
Insider recently sold ₹1.5m worth of stock On the 14th of June, Santosh Pandey sold around 750 shares on-market at roughly ₹1,981 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹95m. Insiders have been net sellers, collectively disposing of ₹189m more than they bought in the last 12 months. Recent Insider Transactions • Jun 10
Insider recently sold ₹95m worth of stock On the 6th of June, Bharatbhai Patel sold around 50k shares on-market at roughly ₹1,900 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹187m more than they bought in the last 12 months. Recent Insider Transactions • May 29
Insider recently sold ₹16m worth of stock On the 25th of May, Aditya Shroff sold around 10k shares on-market at roughly ₹1,717 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹92m more than they bought in the last 12 months. Price Target Changed • May 23
Price target increased by 7.4% to ₹1,734 Up from ₹1,615, the current price target is an average from 21 analysts. New target price is approximately in line with last closing price of ₹1,712. Stock is up 36% over the past year. The company is forecast to post earnings per share of ₹24.31 for next year compared to ₹17.00 last year. Reported Earnings • May 17
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₹17.00 (down from ₹18.06 in FY 2022). Revenue: ₹51.9b (up 18% from FY 2022). Net income: ₹4.44b (down 8.3% from FY 2022). Profit margin: 8.6% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.3%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 16
Astral Limited Recommends Final Dividend for the Year Ended 31 March, 2023 The board of directors of Astral Limited at its meeting on May 15, 2023, Recommended final dividend of INR 2.25 per equity share of INR 1/- each (face value) for the year ended 31 March, 2023 subject to approval of Members at upcoming Annual General Meeting. The Company will inform in due course, the date of 27th Annual General Meeting and the date from which dividend will be paid or warrants thereof will be dispatched to the Members. Reported Earnings • Feb 08
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: ₹4.62 (down from ₹6.34 in 3Q 2022). Revenue: ₹12.7b (up 15% from 3Q 2022). Net income: ₹930.0m (down 27% from 3Q 2022). Profit margin: 7.3% (down from 12% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates by 6.6%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 31
Astral Limited to Report Q3, 2023 Results on Feb 07, 2023 Astral Limited announced that they will report Q3, 2023 results at 12:08 PM, Indian Standard Time on Feb 07, 2023 Major Estimate Revision • Nov 18
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from ₹52.8b to ₹51.3b. EPS estimate also fell from ₹27.18 per share to ₹23.38 per share. Net income forecast to grow 33% next year vs 31% growth forecast for Building industry in India. Consensus price target down from ₹2,178 to ₹2,115. Share price fell 8.8% to ₹1,882 over the past week. Reported Earnings • Nov 16
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: ₹3.50 (down from ₹7.03 in 2Q 2022). Revenue: ₹11.7b (up 1.5% from 2Q 2022). Net income: ₹704.0m (down 50% from 2Q 2022). Profit margin: 6.0% (down from 12% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 9.4%. Earnings per share (EPS) also missed analyst estimates by 33%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 33% per year. Reported Earnings • Nov 13
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: ₹3.50 (down from ₹7.03 in 2Q 2022). Revenue: ₹11.9b (up 2.7% from 2Q 2022). Net income: ₹704.0m (down 50% from 2Q 2022). Profit margin: 5.9% (down from 12% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 9.4%. Earnings per share (EPS) also missed analyst estimates by 33%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 12
Astral Limited Declares Interim Dividend for the Financial Year 2022-2023 Astral Limited at its board meeting held on November 11, 2022, declared interim dividend for the financial year 2022-2023 at the rate of INR 1.25 per share of face value of INR 1 each. The Record Date for determining the shareholders entitled for payment of the said Interim Divided has been fixed as November 21, 2022. The Interim Divided shall be paid to the eligible shareholders after November 21, 2022 within 30 days of date of declaration. Announcement • Nov 02
Astral Limited to Report Q2, 2023 Results on Nov 11, 2022 Astral Limited announced that they will report Q2, 2023 results at 3:30 PM, Indian Standard Time on Nov 11, 2022 Announcement • Oct 02
Astral Limited Announces Change in Company Secretary and Compliance Officer Astral Limited announced that Mr. Krunal Bhatt, Company Secretary and Compliance Officer had been relieved from his position on the close of office hours on 30th September, 2022. The company announced that the Board of Directors of its Meeting held on 1st October, 2022 has approved appointment of Mr. Manan Bhavsar as: Whole time Company Secretary- Key Managerial Personnel (KMP) of the Company; Compliance Officer under the Listing Regulations; Compliance Officer under the SEBI (Prohibition of Insider trading) Regulation 2015. Date of appointment: 1st October, 2022. Terms of appointment: Appointed on full time basis, based on recommendation of the Nomination and Remuneration Committee and approval of Audit Committee of Directors of the Company at their respective Meetings held on 1st October, 2022. Announcement • Sep 16
Astral Limited (BSE:532830) entered into an agreement to acquire additional 15% stake in Seal It Services Limited for £5.25 million Astral Limited (BSE:532830) entered into an agreement to acquire additional 15% stake in Seal It Services Limited for £5.25 million on September 15, 2022. The consideration will be paid in cash. The transaction has been approved by board of directors of Astral Limited. Seal IT Services Limited recorded sales of £32.66 million and EBITDA of £4.65 million for the financial year 2021-2022. The transaction id expected to close in a week. Recent Insider Transactions • Sep 07
Insider recently sold ₹27m worth of stock On the 2nd of September, Sujal Shroff sold around 13k shares on-market at roughly ₹2,158 per share. This transaction amounted to 8.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹57m more than they bought in the last 12 months. Announcement • Aug 31
Astral Limited Announces Resignation of Krunal Bhatt, Company Secretary and Compliance Officer Astral Limited announced that Mr. Krunal Bhatt, company secretary and compliance officer of the company has resigned. The company has accepted his resignation and he shall be relieved from duties at a later date which shall be informed in due course. Recent Insider Transactions • Aug 20
Insider recently sold ₹2.0m worth of stock On the 16th of August, Tarak Acharya sold around 1k shares on-market at roughly ₹1,980 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹12m. Insiders have been net sellers, collectively disposing of ₹57m more than they bought in the last 12 months. Upcoming Dividend • Aug 12
Upcoming dividend of ₹1.75 per share Eligible shareholders must have bought the stock before 19 August 2022. Payment date: 28 September 2022. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.7%). Lower than average of industry peers (0.5%). Reported Earnings • Aug 09
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: ₹24.08 (up from ₹20.13 in FY 2021). Revenue: ₹43.9b (up 38% from FY 2021). Net income: ₹4.84b (up 20% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 4.1%. Over the next year, revenue is forecast to grow 16%, compared to a 14% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 36% per year whereas the company’s share price has increased by 40% per year. Announcement • Aug 04
Astral Limited to Report Q1, 2023 Results on Aug 12, 2022 Astral Limited announced that they will report Q1, 2023 results on Aug 12, 2022 Announcement • Aug 01
Astral Limited Launches Products of Sanitaryware and Faucets Astral Limited announced that has launched its products of sanitaryware and faucets into the market. The details is as under: Name of Product: Sanitaryware and Faucets. Date of Launch: 1 August, 2022. Category of Product: Sanitaryware and Faucets. Whether caters domestic/international market: Domestic (Indian market). Recent Insider Transactions • Jul 01
Insider recently sold ₹12m worth of stock On the 27th of June, Sujal Shroff sold around 7k shares on-market at roughly ₹1,692 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹55m more than they bought in the last 12 months. Announcement • May 28
Astral Limited Recommends Final Dividend for the Year Ended 31 March, 2022 The board of directors of Astral Limited at meeting held on 27 May 2022, Recommended final dividend @ 175% (INR 1.75/-) per equity share of INR 1/- each (face value) for the year ended 31 March, 2022 subject to approval of members in ensuing Annual General Meeting. The Company will inform in due course the date of 26th Annual General Meeting and the date from which dividend will be paid or warrants thereof will be dispatched to the shareholders. Reported Earnings • May 28
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: ₹24.08 (up from ₹20.13 in FY 2021). Revenue: ₹44.3b (up 39% from FY 2021). Net income: ₹4.84b (up 20% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 4.1%. Over the next year, revenue is forecast to grow 11%, compared to a 17% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • May 18
Astral Limited to Report Q4, 2022 Results on May 27, 2022 Astral Limited announced that they will report Q4, 2022 results on May 27, 2022 Reported Earnings • Feb 05
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: ₹6.34 (up from ₹6.14 in 3Q 2021). Revenue: ₹11.1b (up 23% from 3Q 2021). Net income: ₹1.27b (up 3.3% from 3Q 2021). Profit margin: 12% (down from 14% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates by 21%. Over the next year, revenue is forecast to grow 17%, compared to a 14% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 28
Astral Limited to Report Q3, 2022 Results on Feb 04, 2022 Astral Limited announced that they will report Q3, 2022 results on Feb 04, 2022 Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹2,075, the stock trades at a forward P/E ratio of 72x. Average forward P/E is 34x in the Building industry in India. Total returns to shareholders of 206% over the past three years. Price Target Changed • Nov 13
Price target increased to ₹2,035 Up from ₹1,889, the current price target is an average from 20 analysts. New target price is 11% below last closing price of ₹2,295. Stock is up 137% over the past year. The company is forecast to post earnings per share of ₹26.45 for next year compared to ₹20.13 last year. Reported Earnings • Nov 12
Second quarter 2022 earnings released: EPS ₹7.03 (vs ₹4.31 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2022 results: Revenue: ₹11.6b (up 56% from 2Q 2021). Net income: ₹1.41b (up 63% from 2Q 2021). Profit margin: 12% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Sep 06
Price target increased to ₹1,848 Up from ₹1,715, the current price target is an average from 17 analysts. New target price is 13% below last closing price of ₹2,117. Stock is up 128% over the past year. Recent Insider Transactions • Aug 30
Insider recently sold ₹29m worth of stock On the 26th of August, Sujal Shroff sold around 15k shares on-market at roughly ₹1,972 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹148m more than they bought in the last 12 months. Upcoming Dividend • Aug 16
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 23 August 2021. Payment date: 30 September 2021. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.4%). Price Target Changed • Aug 11
Price target increased to ₹1,735 Up from ₹1,596, the current price target is an average from 18 analysts. New target price is 12% below last closing price of ₹1,974. Stock is up 146% over the past year. Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS ₹3.68 (vs ₹0.99 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹7.00b (up 73% from 1Q 2021). Net income: ₹739.0m (up 271% from 1Q 2021). Profit margin: 11% (up from 4.9% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • Jul 13
Non-Executive Director Anil Jani has left the company On the 1st of July, Anil Jani's tenure as Non-Executive Director ended after 6.4 years in the role. We don't have any record of a personal shareholding under Anil's name. A total of 3 executives have left over the last 12 months. Recent Insider Transactions • Jul 03
Insider recently sold ₹6.2m worth of stock On the 28th of June, Ritesh Patel sold around 3k shares on-market at roughly ₹1,949 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹22m. Insiders have been net sellers, collectively disposing of ₹213m more than they bought in the last 12 months. Reported Earnings • May 20
Full year 2021 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹32.0b (up 24% from FY 2020). Net income: ₹4.04b (up 63% from FY 2020). Profit margin: 13% (up from 9.6% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • May 20
Price target increased to ₹1,468 Up from ₹1,314, the current price target is an average from 17 analysts. New target price is 17% below last closing price of ₹1,772. Stock is up 175% over the past year. Announcement • May 19
Astral Limited Recommends Final Dividend for the Year Ended March 31, 2021 The board of Directors of Astral Limited at its meeting held on May 18, 2021, recommended final dividend of INR 1/- per share of INR 1/- each (face value) for the year ended March 31, 2021 subject to approval of members in upcoming Annual General Meeting. The Company will inform in due course the date of 25th Annual General Meeting and the date from which dividend will be paid or warrants thereof will be dispatched to the shareholders. Recent Insider Transactions • Apr 16
Company Secretary & Compliance Officer recently sold ₹22m worth of stock On the 13th of April, Krunal Bhatt sold around 15k shares on-market at roughly ₹1,448 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹240m more than they bought in the last 12 months. Is New 90 Day High Low • Feb 25
New 90-day high: ₹2,116 The company is up 45% from its price of ₹1,464 on 27 November 2020. The Indian market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 34% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹437 per share. Recent Insider Transactions • Feb 17
Insider recently sold ₹12m worth of stock On the 10th of February, Ritesh Patel sold around 6k shares on-market at roughly ₹2,069 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹234m more than they bought in the last 12 months. Major Estimate Revision • Feb 10
Analysts increase EPS estimates to ₹22.19 The 2021 consensus revenue estimate increased from ₹27.1b to ₹29.5b. The earnings per share estimate also received an upgrade from ₹18.32 to ₹22.19 for the same period. Net income is expected to grow by 40% next year compared to 47% growth forecast for the Building industry in India. The consensus price target increased from ₹1,292 to ₹1,559. Share price is up 13% to ₹2,032 over the past week. Reported Earnings • Feb 06
Third quarter 2021 earnings released: EPS ₹8.18 (vs ₹4.49 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹8.98b (up 35% from 3Q 2020). Net income: ₹1.23b (up 82% from 3Q 2020). Profit margin: 14% (up from 10% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Feb 06
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Over the next year, revenue is forecast to grow 25%, compared to a 25% growth forecast for the Building industry in India. Price Target Changed • Feb 04
Price target raised to ₹1,460 Up from ₹1,292, the current price target is an average from 18 analysts. The new target price is 29% below the current share price of ₹2,063. As of last close, the stock is up 72% over the past year. Is New 90 Day High Low • Feb 02
New 90-day high: ₹1,801 The company is up 60% from its price of ₹1,128 on 04 November 2020. The Indian market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 41% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹197 per share. 
