Astral Ltd Q3 results

• Revenue stood at Rs. 1,542 crore, up 10.3% YoY, but 2.3% below our estimates. EBITDA came in at Rs. 237 crore, up 8.1% YoY, though 2.9% below estimates, while OPM declined marginally by 32 bps YoY to 15.4%, slightly lower than our expectations. Adjusted net profit rose 8.9% YoY to Rs. 124 crore, broadly in line with our estimates..
• Piping volumes remained flat YoY at 61,688 MT, while realizations declined ~10% YoY due to continued volatility in polymer prices. piping segment revenue increased 8.3% YoY.
• The Paints and Adhesives business recorded healthy growth of 15.4% YoY to Rs. 470 crore.
• Management maintained its EBITDA margin guidance, with 16–18% for the piping segment and 12–14% for the Adhesives & Paints business. 

Consolidated                                                              Rs. crore

 Actual vs estimates                                       Rs. crore