Astral Poly Technik - On A Strong Footing: ICICI Securities
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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.
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