Astral PVC Pipes Soars with 5% YoY Jump in Net Profit

Astral Pipes CC

Astral, a leading manufacturer of PVC pipes and plastic products, announced its financial results for the fourth quarter of fiscal year 2023 on Monday. The company reported a net profit of Rs 205.7 crore, up 45.5% from Rs 141.4 crore in the same period last year.

The company attributed the strong performance to the robust demand for its products across various sectors such as agriculture, infrastructure, sanitation and housing. The company also benefited from the lower raw material costs and improved operational efficiency.

The company’s revenue from operations increased by 32.7% to Rs 1,234.6 crore in Q4 FY23, compared to Rs 930.1 crore in Q4 FY22. The earnings before interest, tax, depreciation and amortization (EBITDA) margin expanded by 320 basis points to 24.6% in Q4 FY23, from 21.4% in Q4 FY22.

The company’s board of directors recommended a final dividend of Rs 2 per equity share for FY23.