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Astral Poly Technik Q4 Review - Beat On All Fronts: ICICI Direct

Astral Poly Technik Q4 Review - Beat On All Fronts: ICICI Direct

A contractor makes a measurement while installing PVC pipe inside a home under construction. (Photographer: Daniel Acker/Bloomberg)
A contractor makes a measurement while installing PVC pipe inside a home under construction. (Photographer: Daniel Acker/Bloomberg)

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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.

Click on the attachment to read the full report:

ICICI Direct Astral Q4FY21 Result Update.pdf

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