Astral Q3 Results Review - Healthy Volume Growth, Momentum Continue: Prabhudas Lilladher

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.We downward revise our FY24 estimates by 7.9% after lowering our revenue estimate and incorporating one off expenses & higher interest expenses even as we upgrade to ‘Accumulate’ rating from Hold with revised discounted cash flow based target price of Rs 2,064 (earlier Rs 1983), which implies 56 times December 2025 earning per share.Astral Ltd.'s maintained its volume growth guidance at greater then -20% in pipe and fittings business and 15%-20% rev. growth guidance in paints & adhesive business with consolidated Ebitda margin guidance of over 17%+.Astral reported strong expansion in gross margin (plus 590 basis points YoY), despite inventory loss of Rs 200 million on account of correction in raw material prices (PVC price was down by -7% and CPVC price was down by -5% QoQ) because of increase in VAP mix and lower RM procurement cost.However, increase in front-loaded expenses for growth, resulted in relatively lower expansion of Ebitda margin (plus 110 basis points YoY), which will reflect in numbers by coming quarters with product mix change and increase in revenue..Click on the attachment to read the full report:.Budget 2024: How The Defence Sector Stands To Benefit.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Astral Q3 Results Review - Healthy Volume Growth, Momentum Continue: Prabhudas Lilladher

Healthy volume. growth of 15.0% YoY in plumbing segment. led to revenue. growth of 7.1%.

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Astral Q3 Results Review - Healthy Volume Growth, Momentum Continue: Prabhudas Lilladher

Healthy volume. growth of 15.0% YoY in plumbing segment. led to revenue. growth of 7.1%.

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