Astral Limited Achieves Strong Growth in FY 2023-24

Ahmedabad, Gujarat May 18th, 2024Astral Limited, pioneer in manufacturing of CPVC pipes & fittings introduced the monetary outcomes for the Quarter and Year ended March 31, 2024.

Overview of Consolidated Results: (Rs. In Million, besides as said in any other case)

Notes:

1. The group has outlined its companies in two verticals (segments) specifically:
2. a)Plumbing (Pipes, fittings, water tanks, bathware).
3. b)Paints and Adhesives (Erstwhile Resinova + Seal It + Astral Coatings Private Limited (Gem)).
4. NCLT, by its Order dated July 17, 2023, accepted the Scheme of association whereby the Operating Paints Business of Gem Paints Private Limited i.e. demerged Company has been transferred to its subsidiary, specifically, Esha Paints Private Limited i.e. Resultant Company (later, renamed as Gem Paints Private Limited and now referred to as Astral Coatings Private Limited) with the appointed date April 1, 2022, which was filed with Registrar of Companies on August 1, 2023 i.e. efficient date.

Further to the management over the Board of Resultant Company since April 1, 2022, throughout the yr ended March 31, 2024, the Company accomplished the acquisition of 80% fairness shares of Resultant Company (51% in opposition to redemption of Optionally Convertible Debentures subscribed on April 1, 2022, in the direction of First Tranche Acquisition and 29% fairness shares of Resultant Company in the direction of Second Tranche Acquisition).

3. Consolidated money (together with money equivalents) and financial institution balances as at March 31, 2024 is Rs. 6,095 million.
4. During the quarter, PVC/CPVC Raw Material value had been secure therefore margins had been higher in comparison with Q3.
5. During the quarter ended March 31, 2024 Bathware registered a sale of Rs. 242 million. The firm has already crossed 1000 present rooms/sellers therefore firm is anticipating superb progress in Bathware Division in FY 25.
6. Company’s Hyderabad plant will probably be operational by finish of June 2024. Company is anticipating a superb progress from that area publish graduation of plant.
7. Looking to the wonderful progress in Infra Vertical in FY 24, firm has elevated its capability by 4,054 M.T. If the progress momentum continues, we’re planning to additional improve the capability in close to time period.
8. As point out above the infra-Vertical is rising very quick, therefore firm is planning to enter in new product i.e., O-PVC and firm is pleased to share that we’ve got already positioned order of O-PVC machineries and anticipating supply by October 2024.
9. We are pleased to share that throughout the yr 2023-24 firm has been awarded with

• India’s Most Trusted Pipe Brand By TRA 2023
• India’s Most Desired Pipe Brand By TRA 2023
• Consumer Validated Super manufacturers 2023 for Astral Pipes
• Consumer Validated Super manufacturers 2023 for Astral BondTite
• Great Place to Work Certified 2023-24
• Most Preferred Work Place in Manufacturing – 2023-24 – by Team Marksmen
• GREEN PRO Certification for Astral CPVC Pro – By CII
• GREEN PRO Certification for Astral Drain Pro – By CII
• IS 16534 Certification of Astral Fire Pro – BIS
• DIBT & SKZ Certifications for Astral Silencio – By German Institute of Construction Technology (DIBt)

10. The figures for the earlier durations have been regrouped / reclassified wherever essential to verify with the present interval’s classification.