Astral stock cracks 5% on disappointing Q4 results; profit, margins slip

Astral's board has proposed a final dividend of Rs 2.25 per equity share of Rs 1 each (face value) for FY2024, subject to approval by members at the upcoming annual general meeting (AGM).

Shares of Astral fell up to 5 percent in the special trading session on May 18, a day after the company reported a 12 percent on-year drop in its net profit to Rs 181.6 crore for the January-March quarter FY24.

The building materials and equipment firm's revenue from operations, however, saw an 8 percent rise YoY to Rs 1,625 crore.

At the operational level, Astral's earnings before interest tax depreciation and amortisation (EBITDA) declined 5.7 percent to Rs 291.4 crore in Q4FY24, down from Rs 309 crore in the same quarter of the previous fiscal.

The company's EBITDA margin stood at 17.9 percent in the March quarter, down from 20.5 percent in the corresponding period in FY23.

During the quarter under review, Astral's bathware segment recorded sales of Rs 24.2 crore. With the company surpassing 1,000 showrooms or dealers, it anticipates significant growth in the bathware division in FY25.

The company's board has proposed a final dividend of Rs 2.25 per equity share of Rs 1 each (face value) for FY2024, subject to approval by members at the upcoming annual general meeting (AGM).

At 11.32 am, Astral Ltd shares were trading at Rs 2,211 on NSE, down 4 percent from the previous close. The stock has risen 15 percent so far this year, outperforming benchmark Nifty 50 which has risen around 3.5 percent during this period.

In the last three years, Astral stock has delivered returns of around 64 percent, outpacing Nifty returns of around 48 percent during this period.