Astral shares zoom 9% post Q4 earnings; market cap crosses Rs 46,000 cr

Shares of Astral Ltd climbed 9% today after the firm reported a 45% rise in the March quarter profit. Astral stock zoomed 9.08% to Rs 1739 against the close of Rs 1594.70 in the previous session. In the current session, Astral stock opened at Rs 1641.05 on BSE.

The stock has been gaining for the last four sessions. Market cap of the firm stood at Rs 46,235 crore. Total 0.98 lakh shares changed hands amounting to a turnover of Rs 16.39 crore on BSE. Astral stock has gained 34.44% per cent in a year and risen 17.22 per cent in 2023.

In terms of technicals, the relative strength index (RSI) of Astral stood at 78.7, signaling it's trading in the overbought zone. Astral stock has a one-year beta of 0.9, indicating low volatility during the period. Astral shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The PVC pipes and plastic products maker reported a 45.5 percent year-on-year (YoY) rise in net profit at Rs 205.7 crore for the fourth quarter against a net profit of Rs 141.4 crore in the same period of the previous fiscal.

Total revenue stood at Rs 1,506.2 crore in the March quarter, up 8.3 percent against Rs 1,390.6 crore in the corresponding period of the preceding fiscal.

EBITDA jumped 42.5 percent to Rs 309 crore in Q4 over Rs 216.8 crore in the corresponding period in the previous fiscal. The EBITDA margin rose to 20.5 percent in Q4 compared to 15.6 percent in the corresponding period in the previous fiscal.

Astral manufactures plumbing and drainage systems. The company offers plumbing pipes, fittings, insulation tubes, fire sprinklers, water tanks, cable protection, and drainage systems. Astral serves residential and industrial customers in India.

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