Ahmedabad    —   Astral Limited, pioneer in manufacturing of CPVC pipes & fittings announced the financial results for the Quarter ended on June 30, 2022.

Highlights of the Quarter:

Particulars	2021-22	Q1 2022-23	Q1 2021-22	Y-0-Y % Change
Revenue from operations	43,940	12,129	7,008	73.1%
EBDITA	7,883	1,831	1,337	36.9%
EBDITA (% of sales)	17.9%	15.1%	19.1%
PBT	6,485	1,254	985	27.3%
PBT (% of sales)	14.8%	10.3%	14.1%
PAT (Before OCI)	4,904	938	751	24.9%
PAT (% of sales)	11.2%	7.7%	10.7%
Cash Profit	6,173	1,371	1,057	29.7%
Cash Profit (% of sales)	14.0%	11.3%	15.1%
Basic / Diluted EPS (In Rs.)	24.08	4.42	3.68	20.1%

• The company has defined its businesses in two verticals (segments) namely Plumbing & Paints and Adhesives. Plumbing includes Pipes, fittings, water tanks, faucets and sanitaryware.

• Gem Paints sales in Q1 2022-23 (Y-O-Y) has grown up by 91% from Rs. 289 million to Rs. 553 million.

• Resinova + Seal IT sales in Q1 2022-23 (Y-O-Y) has grown up by 45% from Rs.1,919 million to Rs. 2,785 million.

• The company has inaugurated, its first display center for their bathware range at Ahmedabad. This display center is Astral’s flagship showroom that will mark brand’s first of many such exclusive showrooms in India. Additionally, we are planning to set up multiple channel partnership-based showrooms (Investment by Distributors) in major cities across the country in the coming years. The faucets and sanitaryware division have a market potential of Approx. Rs. 15000 crores in India.

• In July 2022, the company has purchased faucets manufacturing ready to use assets at Jamnagar. This will enable company to facilitated timely production and will ease product availability across the country.

• To further strengthen southern market of India company has on boarded Mr. Allu Arjun as Brand Ambassador. The commercial ad shooting has been completed and advertisement will be released soon.

• During the last couple of quarters company has added sizeable manpower into new products division like Faucets, sanitaryware etc. The revenue from those products will start from Q-2 onwards hence the employee cost has increased substantially in last couple of quarters. Also, this quarter the company has incurred good amount of cost for Launch Events of Faucets and Sanitaryware which forms part of Other Expense in the published results.

• Consolidated cash (including cash equivalents) and bank balances as at June 30, 2022 is Rs. 5,422 million.

9.       The company has outperformed in Industry in Pipes as well as in Adhesive Business. This clearly suggest that we are gaining market share in both segments of industry. We can clearly see below the last 4 years CAGR numbers of Q1 which is much higher than the Industry Average.