Astral rose 4.16% to Rs 1,872.95 after the company posted 241.3% jump in consolidated net profit to Rs 176.1 crore on 79.3% rise in net sales to Rs 1127.80 crore in Q4 FY21 over Q4 FY20.
Profit before tax soared 251.5% to Rs 228.80 crore in Q4 FY21 compared with Rs 65.10 crore in Q4 FY20. EBITDA rose 131.2% to Rs 259.2 crore in Q4 FY21 as against Rs 112.10 crore in Q4 FY20. EBITDA (% of sales) grew to 23% in Q4 FY21 from 17.8% in Q4 FY20.During the quarter, the management decided to close the loss-making business of Joint Venture company Astral Pipes Limited (Kenya) and started process for selling of its assets. Due to which during the year the company has provided impairment on investment amounting to Rs 12.3 crore as exceptional item in the statement of profit and loss account.
The company said construction at its Orissa plant is going on as per schedule. The company is planning to start production by September 2021. The company's valve project will be competed in Q2 FY 2021-22.
The company posted a 63.5% jump in consolidated net profit to Rs 408.2 crore for the year ended March 2021 (FY21) as compared to Rs 249.6 crore in the year ended March 2020 (FY20). Revenue from operations rose 23.2% to Rs 3176.3 crore in FY21 over FY20.
Meanwhile, the company has announced a final dividend of Re 1 per share. The group has consolidated net cash position of Rs 409.40 crore.
Astral is engaged in the business of manufacturing and trading of pipes, fittings and adhesive solutions.
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