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    HomeNewsBusinessStocksReduce Astral; target of Rs 1820: HDFC Securities

    Reduce Astral; target of Rs 1820: HDFC Securities

    HDFC Securities recommended reduce rating on Astral with a target price of Rs 1820 in its research report dated August 11, 2023.

    Broker Research
    August 17, 2023 / 11:02 IST
    Reduce

    Reduce

     
     
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    HDFC Securities' research report on Astral

    Astral continues to deliver a strong show in plumbing. It also expects to scale up its adhesives & paints (A&P) margin performance. The bathware segment is gaining traction and Astral expects to turn EBITDA positive by Q4FY24. In Q1FY24, its consolidated revenue/EBITDA/APAT rose 6/18/35% YoY, due to a strong show in the plumbing segment (robust volume and margin performance). Astral is adding plumbing capacities in Guwahati, Hyderabad and Kanpur over the next two years and its adhesive plant will become operational by Sep-23.

    Outlook

    We maintain REDUCE on Astral, as we believe its valuation remains expensive. We revise our target price to INR 1,820/sh (58x its Mar-25E EPS).

    For all recommendations report, click here

    Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Astral - 16 -08 - 2023 - hdfc

    Broker Research
    first published: Aug 17, 2023 10:50 am

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