Astral surges 16% in 1 month, stock hits 52-week high in weak market
The management has maintained a double-digit volume growth forecast for Q4FY26 and FY27E, targeting 17-18 per cent EBITDA margin for Plumbing division and 12 -13 per cent for Paints & Adhesives.
Deepak Korgaonkar Mumbai Astral share price today
Share price of Astral hit a 52-week high of ₹1,705, gaining 2 per cent on the BSE in Friday’s intra-day trade in an otherwise weak market. In comparison, the BSE Sensex was down 0.8 per cent at 79,380 at 01:03 PM.
In the past one month, Astral has outperformed the market by soaring 16 per cent, as against 5 per cent decline in the benchmark index. The stock had hit a record high of ₹2,453.95 on July 2, 2024.
Astral overview, Q3 financial performance
Astral offers a comprehensive portfolio of building material solutions, designed to address the evolving needs of the construction industry. From advanced piping systems to high-performance adhesives, construction chemicals, bathware, paints, and infrastructure solutions, Astral’s offerings are engineered to deliver reliability and value.
The group has defined its businesses in two verticals (segments) namely: plumbing (pipes, fittings, water tanks, bathware) and paints and adhesives (erstwhile Resinova + seal It + Astral Coatings Private Limited (Gem)).
The company operates 19 manufacturing units across India, the United Kingdom, and the United States, supported by a total production capacity of approximately 5.49 lakh metric tonnes per annum.
Overall demand scenario in Plastic Pipe Industry was weak however
Astral has fairly done excellent performance and delivered 16.8 per cent volume growth and a healthy EBIDTA of 18.2 per cent in December 2025 quarter (Q3FY26) which is highest in the Industry. This clearly indicates that company is gaining market share consistently.
The management in the Q3 earnings conference call said the overall industry level demand has been fluctuating, but Astral started getting benefit of decentralization of plant and also taking market share in new geographies with the new plant and addition of a great number of product lines, product portfolios. Astral has spent ₹1,400 crore in CAPEX in last 4 years through all the verticals. And now it is the time to utilize the same and generate the cash flow from all these expansions, the management said.
The Q4 has started with a good note and Polymer prices have started going upward and demand on ground has also started picking up, it added. The management maintains double - digit volume growth for Q4FY26 and FY27E, targeting 17-18 per cent EBITDA margin for Plumbing division and 12 -13 per cent for Paints & Adhesives.
Astral – Elara Capital view post Q3 results
Analysts at Elara Capital maintain 'Accumulate' rating on Astral with a higher target price of ₹1,710 (from ₹1,650) on 50x March’28E P/E (from 55x) as roll forward.
Astral continues to aggressively scale its production capacity to 410,135MT. The Kanpur facility, which commenced operations in October 2025, contributed to sales in Uttar Pradesh and surrounding regions, while the Hyderabad plant has rapidly scaled to 50 per cent utilization. On the strategic front, the company has completed construction of its CPVC resin backward integration project. Trial runs are scheduled to begin around Diwali 2026, with full -scale production for captive consumption expected by Q4FY27E.
The company had ₹20- ₹25 crore inventory loss in Q3 , which is expected to reverse in Q4 given uptick seen in PVC prices. FY27 will see an improvement in Jal Jeevan Mission spending as it fell short of its FY25 target, which will aid Astral’s B2G growth, the brokerage firm said. ================================= Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.
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