Astral Poly Technik spurts 49 per cent in just 3 months
In the last 3 months, the stock of Astral Poly Technik Limited has zoomed by approximately 49 per cent. On December 4, 2020, the stock had closed at Rs 1,515.45. Meanwhile, today, it is trading near its 52-week high of Rs 2,249.95. During the day, it was trading 1.3 per cent higher from its previous close of Rs 2,216.55 and closed at Rs 2,200.
On February 3, 2021, the company had declared its results for the quarter ending December 2020. Its consolidated revenue came in at Rs 897.5 crore, registering a 35.1 per cent YoY increase, led by strong growth across pipe and adhesives segments. Its EBITDA grew by 67.7 per cent YoY, with a corresponding margin expansion of 411 bps. EBITDA margin for the quarter stood at 21.2 per cent. This was led by the lower cost of inventory and other expenses. PAT came in at Rs 123.9 crore as against Rs 67.9 crore in the corresponding quarter last year, with a YoY increase of 82.5 per cent.
The company’s expansion plant of Bhubaneswar (Odisha) has chalked out a schedule and is expected to get ready by Q2FY22 while the revenue would start coming from that plant by Q3FY22. Also, the production of its value-added product (valve manufacturing) will commence in Q2FY22 at Dholka (Gujarat). The fitting production at Hosur (Tamil Nadu) facility for both PVC and CPVC would commence in Q1FY22.
Astral Poly Technik is one of the leading manufacturers of chlorinated polyvinyl chloride (CPVC) and polyvinyl chloride (PVC) plumbing systems, for both residential and industrial applications. The company enjoys a dominant market share in the domestic CPVC and PVC pipe industry.