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Hold Astral; target of Rs 2275: ICICI Direct

ICICI Direct recommended hold rating on Astral with a target price of Rs 2275 in its research report dated November 14, 2022.

November 24, 2022 / 03:44 PM IST
 
 
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ICICI Direct's research report on Astral


Astral is the leader in the CPVC piping segment and expanding into other building material business like adhesive, paints and sanitary ware. Astral is the third largest piping company with a value market share of 9%. In FY22, piping, adhesive contributed 77%, 23%, respectively, to its topline • Healthy b/s reflected in strong return ratios (RoE: 21%, RoCE: ~27%).


Outlook


We maintain our HOLD rating on the stock. We value Astral at Rs 2275 i.e. 60x P/E on FY24E EPS.


For all recommendations report, click here

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Astral - 15 -11-2022 - icici
Broker Research
first published: Nov 24, 2022 03:44 pm