Astral (company)

Last updated

Astral Limited
Type Public
BSE:  532830
NSE:  ASTRAL
NSE NIFTY 200 Constituent [1]
ISIN INE006I01046
Industry Building materials
Founded1996
Headquarters
Ahmedabad
,
India
Key people
Sandeep Engineer (managing director) [2]
ProductsAdhesives, bathware, CPVC pipes, paints, PVC pipes
RevenueIncrease2.svg₹34.43 billion (US$430 million) (2022) [3]
Increase2.svg₹4.92 billion (US$62 million) (2022) [3]
Total assets Increase2.svg₹27.58 billion (US$350 million) (2022) [3]
Total equity Increase2.svg₹20.06 billion (US$250 million) (2022) [3]
Subsidiaries
  • Astral Adhesives
  • Astral Bathware
  • Astral Pipes
  • Gem Paints
  • Resinova Chemie
  • Rex Polyextrusion
  • Seal It Services
Website www.astralpipes.com OOjs UI icon edit-ltr-progressive.svg
Footnotes /references
[4]

Astral Limited (formerly Astral Poly Technik Limited) is an Indian building materials and equipment company based in Ahmedabad, India. The company is recognized as a market leader in the chlorinated polyvinyl chloride and polyvinyl chloride pipes industry. [5] [6]

Contents

History

In 1996, Astral Poly Technik Limited was founded by Sandeep Engineer and later became known as Astral Pipes. [7] [8] At first, the company introduced industrial CPVC pipes in India by licensing the CPVC Resin procurement technology from Lubrizol. [9] [10] However, after three years, they shifted to the plumbing sector, where CPVC pipes became more popular than galvanized Iron (GI) pipes. [9] In 2004, the company started offering lead-free polyvinyl chloride pressure pipes. Following that, in the next few years, they diversified into other areas such as fire sprinkler system, Soil, Waste and Rainwater (SWR) pipes, underground pipes, and other related sectors. [9]

In 2007, the company went public and had its shares listed on the National Stock Exchange of India and Bombay Stock Exchange. [11]

The introduction of PVC pipe in 2013 marked the beginning of the business's expansion into the agricultural market. [9] In 2016, it brought an end to its partnership with Lubrizol regarding the production of CPVC pipes [12] and began operations at its own CPVC compounding facility at Santej (Gujarat) in collaboration with Sekisui Chemical. [13]

In 2017, as part of the Swachh Bharat Mission, a direct-to-digital advertisement was released by the company which garnered global attention by creating awareness about open defecation and linking it with the issues of women's safety and gender-based violence in India. [14] [15]

Operations

As of 31 March 2022, Astral had a total manufacturing capacity of 282,338 MTPA for both pipes and water tanks. It has factories which are located in various regions of India such as Gujarat, Tamil Nadu, Rajasthan, Maharashtra, Uttarakhand, and Odisha. In addition, Astral had a combined adhesive manufacturing capacity of 95,980 MTPA, with factories in Santej (Gujarat), Unnao, and Rania (Uttar Pradesh), as well as in the United States and United Kingdom. [16]

The company has a distribution network of over 800 distributors in the plastic segment and over 1,800 distributors in the adhesive segment. [17]

Financials

According to the DuPont analysis conducted in 2020, the company's current ratio declined from 1.45% in 2015 to 1.27% in 2019. [18] However, as of March 2022, it recovered and increased to 1.78%. [19]

Mergers and acquisitions

Since 2010, Astral has been expanding its business operations and primarily relied on acquiring external companies (between 2014 and 2017) in India, the UK, and the US to fuel its growth. [20]

Controversies

Related Research Articles

<span class="mw-page-title-main">Reliance Industries</span> Indian multinational conglomerate

Reliance Industries Limited is an Indian multinational conglomerate, headquartered in Mumbai. Its businesses include energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Reliance is the largest public company in India by market capitalisation and revenue, and the 100th largest company worldwide. It is India's largest private tax payer and largest exporter, accounting for 7% of India's total merchandise exports.

<span class="mw-page-title-main">ICICI Bank</span> Indian private sector bank

ICICI Bank Limited is an Indian multinational bank and financial services company headquartered in Mumbai. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management.

<span class="mw-page-title-main">Reliance Capital</span> Indian Financial Services company

Reliance Capital Limited is an Indian diversified financial services holding company promoted by Reliance Anil Dhirubhai Ambani Group. Reliance Capital, a constituent of Nifty Midcap 50 and MSCI Global Small Cap Index, is a part of the Reliance Group. It is amongst India's leading and most valuable financial services companies in the private sector. As on 31 March 2017, the net worth of the company stood at ₹16,548 crore, while its total assets as on the date stood at ₹82,209 crore. In Fortune India 500 list of 2018, Reliance Capital was ranked as the 77th largest corporation in India with 5th rank in 'Non-Banking Finance' category.

<span class="mw-page-title-main">Jindal Steel and Power</span> Indian multinational steel and infrastructure company

Jindal Steel and Power Limited (JSPL) is an Indian steel company based in New Delhi. JSPL is a part of OP Jindal Group.

<span class="mw-page-title-main">Larsen & Toubro</span> Indian multinational conglomerate company

Larsen & Toubro Ltd, commonly known as L&T, is an Indian multinational conglomerate company, with business interests in engineering, construction, manufacturing, technology, information technology and financial services, headquartered in Mumbai. The company is counted among world's top five construction companies. It was founded by Henning Holck-Larsen and Søren Kristian Toubro, who were two Danish engineers taking refuge in India.

<span class="mw-page-title-main">Adani Group</span> Indian multinational conglomerate

Adani Group is an Indian multinational conglomerate, headquartered in Ahmedabad. Founded by Gautam Adani in 1988 as a commodity trading business, the Group's businesses include port management, electric power generation and transmission, renewable energy, mining, airport operations, natural gas, food processing and infrastructure.

<span class="mw-page-title-main">Pidilite Industries</span> Indian multinational adhesives manufacturing company

Pidilite Industries Limited is an Indian adhesives manufacturing company based in Andheri (East), Mumbai. The company is the dominant and leading adhesives company in India. Pidilite also manufactures products across verticals such as art materials and stationery; food and fabric care; car products, adhesives, and sealants; and speciality industrial products like adhesives, pigments; textile resins, leather chemicals, and construction chemicals.

<span class="mw-page-title-main">Aditya Birla Fashion and Retail</span> Indian clothing retail company

Aditya Birla Fashion and Retail Limited (ABFRL) is an Indian fashion retail company headquartered in Mumbai. ABFRL was previously known as Pantaloons Fashion & Retail Limited prior to its acquisition by the Aditya Birla Group.

<span class="mw-page-title-main">Adani Ports & SEZ</span> Indian private sector port operator

Adani Ports and Special Economic Zone Limited is an Indian port operator and logistics company. APSEZ is India's largest private port operator with a network of 12 ports and terminals, including India's first port-based SEZ at Mundra. The company's auditor, Deloitte, issued a rare qualified opinion in 2023 on the company's financial reports, indicating a serious question on the accuracy of the reports. Deloitte cited the ongoing review by regulators of Adani's financial and general business practices.

<span class="mw-page-title-main">Oil and Natural Gas Corporation</span> Central Public Sector Undertaking

The Oil and Natural Gas Corporation Limited (ONGC) is an Indian central public sector undertaking under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in New Delhi. ONGC was founded on 14 August 1956 by the Government of India. It is the largest government-owned-oil and gas explorer and producer in the country and produces around 70 percent of India's domestic production of crude oil and around 84 percent of natural gas. In November 2010, the Government of India conferred the Maharatna status to ONGC.

<span class="mw-page-title-main">Bharat Petroleum</span> Indian central public sector undertaking

Bharat Petroleum Corporation Limited (BPCL) is an Indian public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas,Government of India. It operates three refineries in Bina, Kochi and Mumbai. BPCL is India's second-largest government-owned downstream oil producer, whose operations are overseen by the Ministry of Petroleum and Natural Gas. It was ranked 309th on the 2020 Fortune list of the world's biggest Public sector undertakings in India, and 792nd on Forbes's 2021 "Global 2000" list.

<span class="mw-page-title-main">Hindustan Petroleum</span> Subsidiary of Oil and Natural Gas Corporation

Hindustan Petroleum Corporation Limited (HPCL), commonly referred to as HP, is a subsidiary of Oil and Natural Gas Corporation (ONGC) which is in turn under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in Mumbai. Since 2018, Oil and Natural Gas Corporation has owned majority of its stake. It is ranked 367th on the Fortune Global 500 list of the world's biggest corporations as of 2016. On 24 October 2019, it became a Maharatna (PSU).

<span class="mw-page-title-main">Kalyani Group</span> Indian industrial conglomerate

The Kalyani Group is an Indian multinational conglomerate that operates in various key sectors including engineering steel, automotive and non-automotive components, renewable energy and infrastructure, and specialty chemicals. The group has also expanded its operations into the defense manufacturing sector, which was showcased at the DefExpo 2020.

Mphasis Limited is an Indian multinational information technology services and consulting company based in Bengaluru. The company provides infrastructure technology and applications outsourcing services, as well as architecture guidance, application development and integration, and application management services. It serves financial services, telecom, logistics, and technology industries. Mphasis was ranked #7 in India IT companies and overall #189 by Fortune India 500 in 2019. In April 2016, Hewlett Packard Enterprise sold the majority of its stake in Mphasis to Blackstone Group LP for around US$1 billion.

<span class="mw-page-title-main">GIFT City</span> Business district under construction in Gujarat, India

Gujarat International Finance Tec-City is a central business district under construction in Gandhinagar district in Gujarat, India. It is India's first operational greenfield smart city and international financial services centre, which the Government of Gujarat promoted as a greenfield project. In 2020 GIFT IFSC bagged 10th place in Finance Industry and top rank in emerging financial centres in Global Financial Centres Index. As of June 2023, it is home to 23 multi-national banks including HSBC, JP Morgan and Barclays; 35 fintech entities; two international stock exchanges with average daily trading volumes of $30.6 billion; as well as India’s first international bullion exchange with 75 onboarded jewellers.

<span class="mw-page-title-main">Havells</span> Indian electrical equipment manufacturer

Havells India Limited is an Indian multinational electrical equipment company, based in Noida. It was founded by Haveli Ram Gandhi, later sold to Qimat Rai Gupta who was his distributor. The company manufactures home appliances, lighting for domestic, commercial and industrial applications, LED lighting, fans, modular switches and wiring accessories, water heaters, industrial and domestic circuit protection switchgear, industrial and domestic cables and wires, induction motors, and capacitors among others. Havells owns brands like Havells, Lloyd, Crabtree, Standard Electric, Reo and Promptec.

<span class="mw-page-title-main">JSW Steel</span> Indian multinational steel company

JSW Steel Limited is an Indian multinational steel producer based in Mumbai and is a flagship company of the JSW Group. After the merger of Bhushan Power & Steel, Ispat Steel and Jindal Vijayanagar Steel Limited, JSW Steel became India's second largest private sector steel company.

<span class="mw-page-title-main">AU Small Finance Bank</span> Indian small finance commercial bank

AU Small Finance Bank Limited is an Indian small finance bank, based in Jaipur. It was founded as vehicle finance company AU Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017. AU Small Finance Bank serves low and middle income individuals and micro and small businesses that have limited or no access to formal banking and finance channels. The Bank offers loans, deposits and payment products and services.

<span class="mw-page-title-main">Titagarh Rail Systems</span> Rolling stock manufacturer

Titagarh Rail Systems Limited, formerly known as Titagarh Wagons Limited is an Indian private manufacturer of railway coaches, wagons, naval ships, commercial vessels and many other stuff related to defense hardware. Established in 1997 the company is headquartered in Kolkata, West Bengal. It is listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

References

  1. ↑ "Astral Limited Listing Information". The Economic Times. Archived from the original on 21 April 2023. Retrieved 21 April 2023.
  2. ↑ "How Astral Pipes' Sandeep Engineer became a mint-new billionaire". Forbes India . Archived from the original on 21 April 2023. Retrieved 21 April 2023.
  3. 1 2 3 4 "Astral Limited Financial Statements". Moneycontrol. Archived from the original on 20 April 2023. Retrieved 21 April 2023.
  4. ↑ "Astral | Company Overview & News". Forbes. Archived from the original on 27 May 2023. Retrieved 24 May 2023.
  5. ↑ Gutgutia, Aaditya (10 January 2023). The Polycycle Investor. Manjul Publishing. ISBN   978-93-90924-96-7. Archived from the original on 20 July 2023. Retrieved 20 July 2023.
  6. ↑ Manyal, Sanjay; Taunk, Hitesh (16 August 2022). "Astral Ltd 11581 - Research and Analysis Report - ICICIdirect". ICICI Direct . Archived from the original on 21 April 2023. Retrieved 21 April 2023.
  7. ↑ Belagali, Rayagond (1 March 2019). "Factors Influencing Dealer's Buying Behaviour Towards Sadanand PVC" (PDF). DSpace @ Acharya Institute of Technology . p. 18. Archived (PDF) from the original on 21 April 2023. Retrieved 21 April 2023.
  8. ↑ Bobade, Pankaj (22 June 2020). "Astral Poly Technik, Financial Analysis". Axis Securities Limited . Archived from the original on 21 April 2023. Retrieved 21 April 2023.
  9. 1 2 3 4 Mukherjea, Saurabh (17 August 2016). "Chapter 8: Astral Poly: To the Brink and Back". The Unusual Billionaires. India: Penguin UK. ISBN   978-93-86057-67-9. Archived from the original on 20 July 2023. Retrieved 20 July 2023.
  10. ↑ Elearnmarkets. "Case Study: Astral Poly". Elearnmarkets by StockEdge. Archived from the original on 21 April 2023. Retrieved 21 April 2023.
  11. ↑ "Astral IPO Details – IPO Date, Price, GMP, Analysis & Review". www.chittorgarh.com. Archived from the original on 21 April 2023. Retrieved 21 April 2023.
  12. ↑ "Lubrizol terminates process agreements with Astral Poly". Hindu Business Line . 16 August 2016. Archived from the original on 21 April 2023. Retrieved 21 April 2023.
  13. ↑ Das, Abhijit Kumar (10 January 2019). "Retail Equity Research: Astral Poly Technik Limited" (PDF). Geojit Financial Services. Archived (PDF) from the original on 21 April 2023. Retrieved 21 April 2023.
  14. ↑ Sachdev, Chhavi (29 May 2017). "Watch Women Shame Men Who Pee In Public". NPR . Archived from the original on 27 May 2023. Retrieved 27 May 2023.
  15. ↑ Krishnan, Kavita (7 February 2020). Fearless Freedom. Penguin Random House India Private Limited. ISBN   978-93-5305-732-9. Archived from the original on 20 July 2023. Retrieved 20 July 2023.
  16. ↑ Modi, Krunal Pankajkumar (20 September 2022). "CARE Ratings: Astral Limited" (PDF). CARE Ratings. Archived (PDF) from the original on 10 June 2023. Retrieved 21 April 2023.
  17. ↑ John Meledan, Joby (30 May 2022). "Astral Poly Technik Limited: Focus on capacity utilization & new products scale up" (PDF). Sharekhan by BNP Paribas . Archived (PDF) from the original on 15 May 2023. Retrieved 15 May 2023.
  18. ↑ Mohanasundari, M; Sundharesalingam, P; Naveen Raja, S.; Sivaprakash, V.S. (2020). "USING DUPONT ANALYSIS TO ASSESS THE FINANCIAL PERFORMANCE OF THE SELECTED COMPANIES IN THE PLASTIC INDUSTRY IN INDIA" (PDF). Gedrag & Organisatie Review. 33 (2): 2592–2600. eISSN   1875-7235. ISSN   0921-5077. Archived (PDF) from the original on 15 May 2023. Retrieved 20 July 2023– via Amsterdam University Press.
  19. ↑ "Astral Limited Key Financial Ratios, Astral Limited Financial Statement & Accounts". www.moneycontrol.com. Archived from the original on 17 May 2023. Retrieved 15 May 2023.
  20. ↑ Ravi, Rajesh (22 February 2021). "Astral Poly Technik: An 'astr'onomical growth story" (PDF). HDFC securities . Archived (PDF) from the original on 21 April 2023. Retrieved 21 April 2023.
  21. ↑ "Astral Poly Technik acquires 76% stake in Resinova for Rs 213 cr". Business Standard . 21 November 2021. Archived from the original on 21 April 2023. Retrieved 21 April 2023.
  22. ↑ Sunkara, Keshav (10 July 2018). "Pipe maker Astral Poly Technik to acquire Rex Polyextrusion". VCCircle . Archived from the original on 21 April 2023. Retrieved 21 April 2023.
  23. ↑ "Astral to acquire 51 pc stake in Gem Paints for Rs 194 cr". The Economic Times . 30 April 2022. ISSN   0013-0389. Archived from the original on 21 April 2023. Retrieved 21 April 2023.
  24. ↑ Gude, Archana; Amonkar, Jyoti (February 2023). "Astral Q4FY22 Result Review" (PDF). IDBI Capital . Archived (PDF) from the original on 15 May 2023. Retrieved 15 May 2023.
  25. ↑ Dutta, Vishal (26 August 2014). "Astral Poly Technik acquires British company Seal It Services for Rs 44 crore". The Economic Times. ISSN   0013-0389. Archived from the original on 21 April 2023. Retrieved 21 April 2023.
  26. ↑ "Astral Poly Techniq acquires controlling stake in UK-based Seal It for Rs 44 cr". Hindu Business Line . 26 August 2014. Archived from the original on 21 April 2023. Retrieved 21 April 2023.
  27. ↑ "Gujarat: I-T dept searches 40 premises of 2 firms". The Indian Express . 24 November 2021. Archived from the original on 21 April 2023. Retrieved 21 April 2023.
  28. ↑ "Employee steals pipe maker's data". The Times of India . 15 March 2023. ISSN   0971-8257. Archived from the original on 30 April 2023. Retrieved 21 April 2023.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.