Hold Astral: target of Rs 2160: ICICI Direct

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26 Aug, 2025 12:21

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ICICI Direct's research report on Astral

Astral is the leader in the CPVC piping segment and expanding into the adhesive business. Astral is the third largest piping company with a value market share of 9%. Piping, adhesive contribute 76%, 24%, respectively, to topline Healthy balance sheet reflected in strong return ratios (RoE: ~21.5%, RoCE: ~27.5%)

Outlook

We maintain our BUY rating on the stock We value Astral at Rs 2160 i.e. 68x P/E on FY23E EPS.

For all recommendations report, click here

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