Profit before tax increased by 29.6% to Rs 127.70 crore in Q1 FY23 from Rs 98.50 crore recorded in Q1 FY22. Total expenses rose 81.2% year on year to Rs 1,098.9 crore in the quarter ended 30 June 2022. Cost of materials consumed stood at Rs 865 crore (up 67.7% YoY) and employee benefits expense was at Rs 76.8 crore (up 32.2% YoY) in Q1 FY23.
Consolidated EBITDA grew 36.9% to Rs 183.1 crore in Q1 FY23 from Rs 133.7 crore posted in Q1 FY22. EBITDA margin declined to 15.1% in Q1 FY23 from 19.1% posted in the same quarter last year.
The Plumbing segment revenue rose 73.6% to Rs 876.1 crore and revenue from Paints and Adhesives segment increased 71.7% to Rs 336.8 crore in Q1 FY23 over Q1 FY22.
The company said it is planning to set up multiple channel partnership-based showrooms (investment by distributors) in major cities across the country in the coming years. The faucets and sanitaryware division have a market potential of aprroximately Rs 15,000 crore in India.
The company's consolidated cash (including cash equivalents) and bank balances as at 30 June 2022 stood at Rs 542.2 crore.
Astral is engaged in the business of manufacturing and trading of pipes, fittings and adhesive solutions.
Shares of Astral closed 0.40% higher to end at Rs 1985.70 on the BSE on Friday.
Powered by Capital Market - Live News