Astral Ltd
Astral Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #90 of 100 in Industrial Products
See the sector's top 10 — free with your mobile number.
The short version
Astral Limited targets sustained double-digit volume growth over the next 5 years, with bathware expected to grow at 20%-25% annually for the next 5 years (Page 13, 18). Astral Limited expects continued double-digit volume growth, maintaining its historical growth trajectory over the next five years. - EBITDA margin guidance stands at 15%-16%, with potential improvement if growth exceeds current expectations. - New plants (Hyderabad, Kanpur) currently operating below optimal utilization; margins expected to improve as utilization rises, benefiting from economies of scale and reduced logistics costs. - Bathware segment targets robust 20%-25% growth over the next five years and is profitable at current volumes. - Paint segment aims for about 20% growth with single-digit EBITDA margins expected in FY'27, with gradual margin improvements anticipated. - UK adhesive business is improving, aiming for double-digit margins by the next fiscal year. - Market share gains are prioritized, with cautious price aggression to balance growth and profitability. - Capital expenditure is guided at Rs.
From Astral Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Astral Limited targets sustained double-digit volume growth over the next 5 years, with bathware expected to grow at 20%-25% annually for the next 5 years (Page 13, 18).
- The company sees continued healthy growth in plumbing, adhesive, paint, and bathware segments, with paint and adhesive expected to increase their share, though plumbing remains a priority (Page 18).
- UK business is expected to return to double-digit revenue and EBITDA growth by next year, improving substantially from recent years (Page 6, 14).
- Second half of the fiscal year is typically stronger, with expectations for better performance than H1, targeting around 17% growth if ADD (anti-dumping duty) comes; double-digit growth remains assured regardless (Page 5).
2 more points from Astral Ltd's call on revenue
Create a free account to keep reading this call
Profitability & Margins
See what Astral Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Approximate Rs. 300-350 crore capex anticipated for the full year remains unchanged.
- CPVC plant construction to be completed and operational by September 2026; starting machinery installation soon.
- Kanpur plant capacity (15,400 MT) commenced in October; additional machines to be added in Kanpur and Hyderabad.
- Potential to double CPVC plant capacity from 40,000 MTPA to 80,000 MTPA in future due to available space.
- New product lines including OPVC and aluminum PEX pipes planned with additional machinery.
- CAPEX for bathware vertical has been modest (~Rs. 30 crore) with most investment in working capital due to outsourcing model.
2 more points from Astral Ltd's call on capex
Create a free account to keep reading this call
Top-ranked in Industrial Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Astral Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
See what Astral Ltd said on order book & pipeline — free account, 30 seconds.
Astral Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹2.1K Cr, net profit ₹213 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What Astral's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
Others in Industrial Products this season
- Lead Reclaim (Q2 FY26)
Revenue from Operations for H1 FY26: ₹2,190 lakhs, up 138.04% YoY (from ₹920 lakhs in H1 FY25) (Page 19) . Key investor presentation takeaways from Lead Reclaim
- Shubhshree Bio. (Q2 FY26)
Revenue from operations for H1 FY26: ₹9,604.6 Lakhs . Key investor presentation takeaways from Shubhshree Biofuels Energy Ltd's Q2 FY26 investor presentation —
- De Neers Tools (Q2 FY26)
H1FY26 Net Sales:** ₹670.4 Mn . Key investor presentation takeaways from De Neers Tools's Q2 FY26 investor presentation — and how it ranks against sector peers.
- WOL 3D India (Q2 FY26)
Revenue from Operations for H1FY26 is Rs 415 Mn, up 82% YoY from Rs 227 Mn in H1FY25 (Page 9, Page 5). Key investor presentation takeaways from WOL 3D India Ltd
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Arthneeti Pro · Annual
Astral Ltd and 15K+ more earnings calls,
for less than your morning chai
a day
Every earnings call, ranking and concall Q&A across all four results seasons.
Secure Razorpay payment · instant access
Frequently Asked Questions
What were Astral Ltd Q2 FY26 results?
Astral Limited targets sustained double-digit volume growth over the next 5 years, with bathware expected to grow at 20%-25% annually for the next 5 years (Page 13, 18). Astral Limited expects continued double-digit volume growth, maintaining its historical growth trajectory over the next five years. - EBITDA margin guidance stands at 15%-16%, with potential improvement if growth exceeds current expectations. - New plants (Hyderabad, Kanpur) currently operating below optimal utilization; margins expected to improve as utilization rises, benefiting from economies of scale and reduced logistics costs. - Bathware segment targets robust 20%-25% growth over the next five years and is profitable at current volumes. - Paint segment aims for about 20% growth with single-digit EBITDA margins expected in FY'27, with gradual margin improvements anticipated. - UK adhesive business is improving, aiming for double-digit margins by the next fiscal year. - Market share gains are prioritized, with cautious price aggression to balance growth and profitability. - Capital expenditure is guided at Rs.
What is Astral Ltd share price analysis?
Astral Ltd currently shows a neutral. The stock trades at a P/E of 70.6 with a market cap of ₹41,810 Cr. Investors should review the full earnings analysis for detailed insights.
Is Astral Ltd planning capital expenditure?
Approximate Rs.
Keep Astral Ltd on your radar — track it to get its next earnings analysis in your feed.
This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.