Astral's consolidated net profit rose 20.3% to Rs 88.90 crore on a 73.1% rise in net sales to Rs 1,212.90 crore in Q1 FY23 over Q1 FY22.
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.
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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.
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