Astral Poly

Astral Poly Technik, for Q2FY15 posted a good set of numbers. They were not trailblazing but at the same time, they were not a sham. It posted a 13% (YoY) jump in net sales at Rs.303 crore and despite a 25% rise in operating costs and other income coming down from Rs.76 lakh to Rs.6 lakh, it ended the quarter with a net profit at Rs.21 crore, up 31%. Sequentially, the performance is flat. The company also had a forex loss of Rs.2.5 crore.

This company has literally risen like a phoenix from the ashes. From being almost on the verge of bankruptcy in 2003, re-building brick-by-brick, the company has today risen to become India’s largest plumbing and drainage pipe maker. The company today enjoys a strong brand presence.  Its equity as at 30th Sept 2014 stood at Rs.11.24 crore and reserves stood at Rs.302 crore. Promoter holding in the company is at 63.82% and FIIs stake which in Q1 stood at 16.03%  has come down marginally to 15.93% and HSBC Bank continues to hold 9.93%.