Astral Poly Technik Limited(APTL) is engaged in the production of plastic products. The company has remained consistent in its operations with 5 yrs CAGR in sales of 18.9% and CAGR in profits of 20.1%.On the balance sheet front, the company has steadily reduced its dependence on debt. Debt equity ratio has come down to 0.2x in FY19 from 0.4x in FY15. The working capital days has also improved from 74 days in FY18 to 66 days in FY19 due to decline in receivable days from 55 days in FY18 to 47 days in FY19. Astral delivers 17.6% RoE and also pays dividend every year. Hence BUY.
