Astral Limited, a leading manufacturer of CPVC pipes and fittings, has announced its unaudited financial results for the second quarter and half-year ending September 30, 2026. The company reported a consolidated revenue growth of 26% year-on-year for Q2 FY27, reaching Rs. 19,883 million, driven by strong performance in both its plumbing and paints and adhesives segments.
The plumbing business witnessed a 19.1% increase in sales volume, contributing to a 25% rise in revenue for the quarter. This growth was supported by a robust demand scenario in the plastic pipe industry and strategic market share gains. Despite the positive revenue trajectory, the segment’s EBITDA margin contracted to 16.3% from 19.0% in the previous year, attributed to volatility in polymer prices and delayed pass-through of cost increases.
In the paints and adhesives segment, Astral Limited achieved a 28.6% increase in revenue for Q2 FY27, although the segment’s EBITDA margin declined to 7.6% from 12.1% in the prior year. The company cited geopolitical pressures and raw material price volatility as factors impacting margins. However, the international adhesives business demonstrated robust growth, with sales increasing by 30.1% and positive EBITDA margins of 6.3%.
Astral Limited continues to expand its product portfolio and production capabilities. The company is progressing with its new CPVC resin plant, expected to be operational by Q4 FY27, which is anticipated to enhance market share and improve margins. Additionally, the company plans to launch a new product, Pex (Aluminium Pex), in Q3 FY27, further diversifying its offerings.
Analysts note that while Astral Limited has shown impressive revenue growth, the pressure on margins remains a concern. The company’s ability to manage cost pass-throughs effectively and stabilise its margins will be crucial in maintaining its growth trajectory. The market will be closely watching Astral’s performance in the upcoming quarters, particularly in light of its strategic expansions and product launches.
