India · Delayed Price · Currency is INR Astral Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw 17% volume growth and 18.2% EBITDA margin, with revenue up 10% YoY. New plants and product lines drove market share gains, while CapEx investments began yielding results. Guidance remains for double-digit growth and strong margins, with new CPVC capacity set to boost future performance.
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Q2 FY2026 saw 20% volume and 15% value growth, with EBITDA margin above 15-16% guidance despite industry headwinds. New plants and product diversification drove market share gains, while adhesives, bathware, and paint segments posted strong growth. Full-year double-digit growth guidance is reaffirmed.
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Q1 FY26 saw flat pipe volumes and margin pressure from inventory losses, but strong growth in Bathware, Paints, and Adhesives. Major backward integration with a new CPVC resin plant is expected to boost margins and working capital efficiency. Double-digit growth is guided for FY26.
Fiscal Year 2025
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Despite a challenging year with volatile PVC prices and industry headwinds, strong growth in value-added products, adhesives, and bathware supported healthy margins. Strategic expansions, new product launches, and a robust CapEx pipeline position the company for double-digit growth as market conditions normalize.
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Q3 saw 2% revenue and 9.3% EBITDA growth YoY, with strong margins in pipes, adhesives, and bathware despite industry headwinds. Guidance remains for 10–15% volume growth next year, with CapEx tapering and new product launches supporting future expansion.
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Q2 FY25 saw stable margins despite a challenging environment with PVC price volatility and subdued demand. Growth in bathware and adhesives offset flat overall revenue, while expansion and new product launches position the company for improved performance in H2.
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Q1 FY25 saw 16% volume growth and 8% revenue growth, with gross margins above 40% despite high polymer price volatility and one-time branding costs. New plant expansions, product launches, and strong performance in adhesives and bathware support a positive full-year outlook.