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Plastic Products company Astral announced Q2FY24 & H1FY24 results:
Financial Performance
1. Astral Limited reported a 16.3% increase in revenue from operations, reaching Rs 13,630 million in Q2FY24.
2. The company achieved significant growth in EBDITA, with a growth rate of 50.7% and reaching Rs 2,335 million in Q2FY24.
3. Astral's EBDITA margin increased to 17.1% in Q2FY24 from 13.2% in Q2FY23.
4. The Profit Before Tax (PBT) for Q2FY24 was Rs 1,768 million, a 54.5% growth compared to the same period last year.
5. The company's PAT (Profit After Tax) increased by 82.9% in Q2FY24, reaching Rs 1,317 million.
6. Astral Limited recorded a basic/diluted EPS (Earnings Per Share) of Rs 4.88 in Q2FY24.
7. The Board of Directors has approved a payment of an interim dividend of Rs 1.50 per share. (Face value of Re 1/- each).
Plumbing Business
1. Astral Limited's Plumbing Business reported a revenue from operations of Rs 9,804 million in Q2FY24, a 17.3% growth compared to the same period last year.
2. The segment EBIDTA for the Plumbing Business reached Rs 1,768 million, showing a growth rate of 57.2% in Q2FY24.
3. Plumbing volume experienced a significant growth of 27.8% in Q2FY24 compared to the same period last year.
Paints and Adhesives Business
1. Astral Limited's Paints and Adhesives Business reported revenue from operations of Rs 3,826 million in Q2FY24, a growth of 14.0% compared to the same period last year.
2. The segment EBIDTA for the Paints and Adhesives Business reached Rs 567 million in Q2FY24, showing a growth rate of 33.7%.
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