Astral Q2 FY23 Results Key Highlights

  • Q2 Consolidated Revenue -2% and Net Profit down 50% YoY
  • EBITDA Margins 12% vs 18% YoY
  • Heavy Inventory Loss (Around Rs.70 Cr in H1) due to PVC price fluctuation, which may continue in Q3. Some inventory loss may come in Q3 too
  • Business defined here onwards in two division – Plumbing (which will include Pipes, fittings, water tanks, faucets and sanitaryware) and Paints and Adhesives (Gems Paint + Resinova+ Seal IT). Business Performance H1

  • Marginal degrowth of 4% in volume due to higher base and destocking by dealers
  • In H2, there will be high double-digit growth in volume
  • 6 days business lost due to approvals for Resinova merger
  • Started manufacturing of CPVC, SWR and Agri Pipes along with Water Tank at Odisha Plant (East)
  • Sanitaryware & Faucets – 34 Showrooms are ready and plan for 500 showrooms before year end. Set up cost will be borne by channel partner
  • Sales number from Sanitaryware and Faucets will start coming from next year
  • Long term sustainable margins are 15%
  • Cash as on 30th Sep 2022 is Rs. 459 Cr
  • Capex for FY23 is Rs. 250Cr

Source:

Astral Press Release

Astral Concall Recording