Astral Limited delivers Consolidated top line and PAT growth of 61% and 102% respectively for H1 F.Y. 2021-22.Astral Limited, pioneer in manufacturing of CPVC pipes & fittings announced the financial results for the Quarter and Half year ended on September 30, 2021.
Plastic storage tank plant at Hosur, Valve Project at Dholka & PVC/CPVC pipes plant at Odisha will start production in December.
2. PVC & CPVC prices are on a rising trend and we are expecting this will continue in the current quarter-Q3 also.
3. Demand scenario of pipe as well as adhesives are good and we are expecting very encouraging sales numbers in both segments in coming times.
4. Proposed merger of subsidiaries Astral Biochem Private Limited and Resinova Chemie Limited with Astral Limited is pending with regulatory authorities for approval. We are expecting that it will be completed by Q4 2021-22.
5. The company is working on finalization of detailed Investment Plan for Sanitary ware & Faucets and date of launching of the products will be communicated to Shareholders by next quarter.
6. In December Company is planning to launch first time in India a very ultra-modern state of art DWV PIPING SYSTEM WITH NOISE INSULATION PROPERTIES which will be very cost effective compare to existing polymers for drainage application.
Plastic pipe industry is facing huge challenges for growth due to pandemic (Covid – 19) in last 2 years. In spite of that if you see the following graphs you will observe that ASTRAL has outperformed in the Industry not only in value terms (Which is inflationary) but also in Volume Terms. Astral’s H1 volume Growth of Last 3 years was 11% CAGR, which is one of the highest in the Industry.