Astral Poly Technik Q4 Review - Beat On All Fronts: ICICI Direct
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ICICI Direct Report
Astral Poly Technik Ltd. has reported an all-round performance in Q4 FY21 with revenue and profit after tax coming in much ahead of our expectation.
Consolidated revenue growth at 79% YoY to Rs 1128 crore was ahead of our expectation of 36% growth.
This was mainly driven by strong performance of both piping and adhesive businesses.
Standalone piping revenue increased 80% YoY to ~Rs 910 crore supported by ~26% YoY growth in volume.
Strong demand from housing and construction segment helped drive volumes in Q4 FY21.
On the adhesive front, segment revenue growth at 78% YoY to Rs 241 crore was on a lower base and streamlining of distribution networks.
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