Shares of Astral Ltd notched 9% gains on Monday’s early trades to reach an intraday high of ₹ 1739.65 apiece on the National Stock Exchange (NSE) after the company reported strong results for the quarter and year ended March 31, 2023.
Astral Ltd and its subsidiaries are engaged in the business of manufacturing and trading plumbing and drainage systems, fittings, paints and adhesive solutions. With a market capitalization of ₹ 42,816 crores, Astral is a mid-cap company. It has an ideal return on equity of 22.86% and an ideal debt-to-equity ratio of 0.04.
The company’s quarterly profits increased by 43.10% year-on-year to ₹ 206.20 crores in the January to March quarter of 2023 (Q4FY23), against ₹ 144.10 crores reported in the corresponding quarter last year (Q4FY22). Its revenue grew by 8.31% to ₹ 1,506.20 crores in Q4FY23 from ₹ 1,390.60 crores in Q4FY22.
Astral’s EBITDA (earnings before interest, tax, depreciation, and amortization), witnessed a 42.5 per cent jump to ₹ 309 crores, as compared to ₹ 216.8 crores recorded in the same period of the previous fiscal year. Its EBITDA margin stood at 20.5% in the latest quarter as compared to 15.6 per cent a year ago. This indicates better operational efficiency and cost management by the company. The company also announced a dividend of ₹ 2.25 per share, subject to approval by its shareholders.
For the entire year, its profit declined by 3.65% to ₹ 472.5 crores in FY23, against ₹ 490.40 crores in FY22. However, its revenue rose by 17.40% to ₹ 5,158.50 crores in FY23, against ₹ 4394.00 crores in FY22.
Written by Simran Bafna
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