Astral Poly Technik - On A Strong Footing: ICICI Securities 
A worker walks over pipes in Amargarh, India. (Photographer: Dhiraj Singh/Bloomberg)

Astral Poly Technik - On A Strong Footing: ICICI Securities 

BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Besides expecting Astral Poly Technik Ltd. to continue with its strong earnings traction post-Covid-19, we expect its premium valuations to sustain driven by -

1. sustained market share gain opportunity in the piping segment with likely accelerated consolidation in PVC/CPVC pipes segment in the post-Covid-19 environment;

2. strong option value in its adhesive business (capable of growing at 20-25% compound annual growth rate over the next three to five years);

3. strong growth opportunity in tanks (likely to achieve Rs 1.5 billion revenue by FY23) and double wall corrugated pipe (expected to post 25-30% CAGR over next two-three years) segments.

Click on the attachment to read the full report:

ICICI Securities Astral Company Update.pdf

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