Management guidance · Q1 FY27 call
Leading Industrial Products companies on guidance
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Astral
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,506 | 1,283 | 1,363 | 1,370 | 1,625 | 1,384 | 1,370 | 1,397 | 1,681 | 1,361 | 1,577 | 1,542 | 2,088 |
| Expenses + | 1,199 | 1,082 | 1,143 | 1,165 | 1,334 | 1,169 | 1,160 | 1,178 | 1,380 | 1,176 | 1,321 | 1,304 | 1,706 |
| Operating Profit | 307 | 202 | 220 | 205 | 291 | 214 | 210 | 219 | 302 | 185 | 257 | 237 | 383 |
| OPM % | 20% | 16% | 16% | 15% | 18% | 16% | 15% | 16% | 18% | 14% | 16% | 15% | 18% |
| Other Income + | 12 | 12 | 13 | 6 | 10 | 12 | 9 | 12 | 9 | 9 | 11 | -7 | 11 |
| Interest | 3 | 6 | 8 | 8 | 8 | 8 | 10 | 14 | 10 | 12 | 16 | 13 | 24 |
| Depreciation | 44 | 46 | 49 | 50 | 52 | 56 | 60 | 63 | 65 | 72 | 72 | 73 | 74 |
| Profit before tax | 272 | 162 | 177 | 154 | 241 | 163 | 149 | 154 | 236 | 110 | 180 | 144 | 297 |
| Tax % | 24% | 26% | 26% | 26% | 25% | 27% | 27% | 27% | 25% | 28% | 25% | 25% | 28% |
| Net Profit + | 206 | 119 | 132 | 113 | 181 | 120 | 109 | 113 | 178 | 79 | 135 | 108 | 213 |
| EPS in Rs | 7.66 | 4.46 | 4.88 | 4.23 | 6.76 | 4.48 | 4.09 | 4.25 | 6.67 | 3.02 | 5.02 | 4.01 | 7.93 |
Financials of Astral
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,410 | 1,678 | 1,895 | 2,073 | 2,507 | 2,578 | 3,176 | 4,394 | 5,158 | 5,641 | 5,832 | 6,569 |
| Expenses + | 1,242 | 1,470 | 1,633 | 1,759 | 2,126 | 2,136 | 2,539 | 3,640 | 4,349 | 4,717 | 4,886 | 5,507 |
| Operating Profit | 168 | 208 | 261 | 314 | 382 | 442 | 638 | 754 | 810 | 925 | 946 | 1,062 |
| OPM % | 12% | 12% | 14% | 15% | 15% | 17% | 20% | 17% | 16% | 16% | 16% | 16% |
| Other Income + | 3 | -4 | 8 | 13 | 15 | 11 | 25 | 35 | 37 | 36 | 41 | 25 |
| Interest | 25 | 30 | 18 | 22 | 32 | 39 | 13 | 13 | 40 | 29 | 41 | 64 |
| Depreciation | 36 | 42 | 50 | 57 | 81 | 108 | 116 | 127 | 178 | 198 | 243 | 292 |
| Profit before tax | 110 | 132 | 201 | 248 | 283 | 306 | 533 | 648 | 628 | 734 | 702 | 731 |
| Tax % | 29% | 22% | 28% | 29% | 30% | 18% | 23% | 24% | 25% | 26% | 26% | 27% |
| Net Profit + | 78 | 102 | 145 | 176 | 197 | 250 | 408 | 490 | 472 | 546 | 519 | 535 |
| EPS in Rs | 2.89 | 3.79 | 5.44 | 6.58 | 7.36 | 9.25 | 15.10 | 18.06 | 17.00 | 20.33 | 19.50 | 19.90 |
| Dividend Payout % | 6% | 5% | 5% | 4% | 4% | 6% | 10% | 12% | 21% | 18% | 19% | 13% |
Financials of Astral
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 12 | 12 | 15 | 20 | 20 | 27 | 27 | 27 | 27 |
| Reserves | 607 | 696 | 835 | 1,006 | 1,266 | 1,488 | 1,876 | 2,316 | 2,684 | 3,161 | 3,590 | 4,031 |
| Borrowings + | 203 | 197 | 229 | 189 | 275 | 191 | 80 | 98 | 87 | 119 | 233 | 250 |
| Other Liabilities + | 344 | 397 | 386 | 468 | 546 | 595 | 697 | 952 | 1,564 | 1,188 | 1,198 | 1,504 |
| Total Liabilities | 1,165 | 1,301 | 1,462 | 1,675 | 2,099 | 2,289 | 2,673 | 3,387 | 4,362 | 4,496 | 5,048 | 5,812 |
| Fixed Assets + | 557 | 645 | 741 | 842 | 1,105 | 1,255 | 1,314 | 1,496 | 1,950 | 2,299 | 2,712 | 2,945 |
| CWIP | 27 | 15 | 25 | 73 | 81 | 44 | 57 | 123 | 126 | 151 | 116 | 89 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 582 | 641 | 695 | 759 | 913 | 990 | 1,302 | 1,768 | 2,286 | 2,046 | 2,220 | 2,778 |
| Total Assets | 1,165 | 1,301 | 1,462 | 1,675 | 2,099 | 2,289 | 2,673 | 3,387 | 4,362 | 4,496 | 5,048 | 5,812 |
Financials of Astral
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 117 | 226 | 114 | 282 | 342 | 405 | 664 | 543 | 557 | 823 | 630 | 1,117 |
| Cash from Investing Activity + | -343 | -203 | -158 | -185 | -291 | -318 | -454 | 72 | -478 | -541 | -513 | -506 |
| Cash from Financing Activity + | 237 | 16 | 12 | -71 | -5 | -163 | -153 | -44 | -191 | -202 | -118 | -328 |
| Net Cash Flow | 11 | 38 | -32 | 25 | 46 | -75 | 57 | 571 | -112 | 80 | -1 | 282 |
| Free Cash Flow | 32 | 91 | -45 | 98 | 122 | 192 | 493 | 198 | 247 | 273 | 90 | 661 |
| CFO/OP | 85% | 123% | 60% | 110% | 110% | 110% | 122% | 94% | 89% | 108% | 85% | 123% |
Financials of Astral
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 60 | 49 | 65 | 54 | 49 | 32 | 32 | 22 | 25 | 24 | 27 | 26 |
| Inventory Days | 92 | 84 | 76 | 94 | 88 | 124 | 88 | 91 | 96 | 100 | 109 | 103 |
| Days Payable | 93 | 96 | 80 | 92 | 86 | 109 | 96 | 93 | 88 | 95 | 92 | 107 |
| Cash Conversion Cycle | 60 | 38 | 61 | 56 | 51 | 47 | 23 | 20 | 33 | 29 | 44 | 23 |
| Working Capital Days | 64 | 30 | 39 | 37 | 27 | 42 | 12 | 13 | 17 | 16 | 25 | 11 |
| ROCE % | 21% | 18% | 22% | 23% | 23% | 21% | 29% | 29% | 24% | 23% | 20% | 20% |
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