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Makes CPVC and PVC pipes, fittings and adhesives for plumbing, drainage and construction in India.
Makes CPVC and PVC pipes, fittings and adhesives for plumbing, drainage and construction in India.
Sells pipes and fittings largely through a dealer network to plumbers and builders, with CPVC (a heat-resistant plastic for hot-and-cold water) as the premium line; it began in India by licensing Lubrizol's technology. Adhesives (Resinova) and paints are later extensions.
In one line: India's mini pipe-and-adhesives play.
Moat: narrow (brand, distribution). Strong dealer network and brand recall in CPVC pipes, India's largest category player.
Headquarters: Ahmedabad, India · Founded: 1996 · Employees: 11,216
Size Astral (ASTRAL.NS) is an India Industrials company (Miscellaneous Manufacturing) with a market value of $3.57B, the 252nd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,254 on 6 Nov 2026.
Performance Over six months the shares fell 20.1%, against -6.8% for the median peer and 0.0% for the India market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 16.8% over the last twelve months (peer median +9.4%); the operating margin is 11.9% (peer median 13.6%).
Valuation It trades at 46.8× forward earnings against a peer median of 19.8× (most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 33% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is +17 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.1 points above its cost of capital (11.9% WACC).
Next results Next results expected around 14 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹67.9B | ₹65.7B | ₹58.3B | ₹56.4B | ₹51.6B |
| Revenue growth | — | +13% | +3% | +9% | — |
| Gross profit | ₹18.1B | ₹12.6B | ₹12.9B | ₹13.0B | ₹10.3B |
| EBITDA | ₹11.1B | ₹10.7B | ₹9.59B | ₹9.36B | ₹8.23B |
| Net income | ₹5.75B | ₹5.37B | ₹5.24B | ₹5.46B | ₹4.57B |
| Free cash flow | n/a | ₹6.04B | ₹553M | ₹2.49B | ₹2.12B |
| Capital expenditure | n/a | ₹4.59B | ₹5.45B | ₹5.54B | ₹3.11B |
| Total debt | n/a | ₹2.50B | ₹2.33B | ₹1.19B | ₹871M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Astral ASTRAL.NS | $3.57B | -20% | +17% | 12% | 46.8× | 32.5% |
| Supreme Industries SUPREMEIND.NS | $4.24B | -14% | +17% | 10% | 33.6× | 25.8% |
| Finolex Industries FINPIPE.NS | $932M | -20% | +3% | 14% | 16.4× | 13.0% |
| Prince Pipes And Fittings PRINCEPIPE.NS | $359M | +15% | +5% | 5% | 22.8× | 22.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ASTRAL.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.2% | -0.8% | 5th lowest of 21 |
| 6-month return | -20.1% | -6.8% | 6th lowest of 21 |
| Distance from 52-week high | -29.1% | -28.1% | 10th lowest of 21 |
| Revenue growth (TTM) | +16.8% | +9.4% | 6th highest of 21 |
| Operating margin | 11.9% | 13.6% | 10th lowest of 21 |
| Forward P/E | 46.8× | 19.8× | most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 32.5% | 10.0% | most demanding of 20 |
| Growth delivered (Del g) | +15.6% | +8.2% | 2nd highest of 20 |
| Hurdle (Req g minus delivered) | +16.9 pp | +3.3 pp | most demanding of 20 |
| ROIC minus cost of capital | +3.1 pp | +4.1 pp | 10th lowest of 21 |
| EV / EBITDA | 30.5× | 11.7× | most expensive of 14 |
| Net debt / EBITDA | -0.6× | 1.1× | 2nd least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Astral ASTRAL.NS | India | $3.57B | -20% | +17% | 12% | 46.8× | 32.5% | +15.6% |
| Kurita Water Industries 6370.T | Japan | $3.47B | -39% | +1% | 14% | 11.3× | 5.6% | +8.5% |
| Brady BRC | United States | $3.69B | 0% | +10% | 16% | 12.0× | 1.0% | +7.7% |
| TOMRA Systems TOM.OL | Norway | $3.17B | +6% | +7% | 11% | 31.8× | 9.5% | +9.2% |
| Supreme Industries SUPREMEIND.NS | India | $4.24B | -14% | +17% | 10% | 33.6× | 25.8% | +12.1% |
| Hill & Smith HILS.L | United Kingdom | $2.88B | +10% | +3% | 16% | 19.5× | 19.4% | +5.6% |
| Ansell ANN.AX | Australia | $4.42B | +79% | +2% | 15% | 19.2× | 10.3% | +3.0% |
| Daetwyler DAE.SW | Switzerland | $2.72B | -21% | +2% | 10% | 24.7× | 9.3% | +6.0% |
| Hanshow Technology 301275.SZ | China | $2.68B | -5% | +42% | 13% | 27.7× | 10.0% | +13.6% |
| Zhejiang Weixing New Building Materials 002372.SZ | China | $2.27B | -19% | -12% | 14% | 17.8× | 9.9% | +1.1% |
| Leyard Optoelectronic 300296.SZ | China | $2.20B | -14% | -14% | 4% | 28.8× | 17.1% | +1.2% |
| Zhejiang Weixing Industrial Development 002003.SZ | China | $2.17B | +28% | +14% | 16% | 20.7× | -4.2% | +14.0% |
| Armstrong World Industries AWI | United States | $7.16B | +6% | +9% | 19% | 18.6× | 16.2% | +11.6% |
| FP Corporation 7947.T | Japan | $1.61B | +35% | +4% | 9% | 15.5× | -1.0% | +5.1% |
| Jinfu Technology 003018.SZ | China | $1.51B | -30% | +85% | 26% | 39.3× | 18.0% | +8.2% |
| Vesuvius VSVS.L | United Kingdom | $1.49B | +2% | +2% | 7% | 14.7× | 8.2% | +4.4% |
| Xiamen Voke Mold & Plastic Engineering 301196.SZ | China | $1.48B | -34% | +34% | 12% | 32.6× | 19.6% | +19.4% |
| Shanghai PRET Composites 002324.SZ | China | $1.36B | -44% | +27% | 1% | 45.7× | n/a | n/a |
| Advanced Drainage Systems WMS | United States | $9.37B | -13% | +10% | 22% | 20.1× | 10.8% | +9.0% |
| Takuma 6013.T | Japan | $1.26B | -1% | +18% | 10% | 13.6× | -5.4% | +2.5% |
| PILLAR 6490.T | Japan | $1.25B | -9% | +10% | 22% | 11.5× | 18.0% | +14.5% |