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About Astral

History

In 1996, Astral Poly Technik Limited was established by Sandeep Engineer and later became popularly known as Astral Pipes. Initially, the company entered the market by introducing industrial CPVC pipes in India through a licensing agreement for CPVC resin procurement technology from Lubrizol. However, within three years, they shifted their focus to the plumbing sector, where CPVC pipes gained more popularity than galvanised iron (GI) pipes. Subsequently, in 2004, the company started offering lead-free polyvinyl chloride pressure pipes. Over the following years, they expanded their portfolio into various areas, including fire sprinkler systems, soil, waste, rainwater (SWR) pipes, underground pipes, and related sectors. In 2007, Astral Pipes became a publicly traded company, with its shares listed on the National Stock Exchange of India and the Bombay Stock Exchange. The company's foray into the agricultural market began in 2013 with the introduction of PVC pipes. In 2016, Astral Pipes terminated its partnership with Lubrizol to produce CPVC pipes and initiated operations at its own CPVC compounding facility in Santej, Gujarat, in collaboration with Sekisui Chemical. In 2017, Astral Pipes gained international attention for releasing a direct-to-digital advertisement as part of the Swachh Bharat Mission. The ad focused on raising awareness about open defecation in India and its connection to women's safety and gender-based violence. As of March 31, 2023, Astral Pipes boasted a total manufacturing capacity of 4,27,611 metric tonnes per annum (MTPA) for both pipes and water tanks. Their manufacturing facilities are located in various states across India, including Gujarat, Tamil Nadu, Rajasthan, Maharashtra, Uttarakhand, and Odisha. Additionally, Astral Pipes has adhesive manufacturing facilities set up in Santej (Gujarat), Unnao, and Rania (Uttar Pradesh), as well as operations in the United States and the United Kingdom. The company has a diverse distribution network of over 1,93,000 dealers, 2.778 distributors, and 38 depots nationwide.

Business Segments 

Astral Poly Technik Limited has 5 business segments:
  1. Pipes and Fittings: This segment is the company's core business and includes the manufacture and sale of CPVC, PVC, and other types of plastic pipes and fittings for plumbing, drainage, and irrigation applications.
  2. Adhesives and Sealants: This segment manufactures and sells a wide range of adhesives and sealants for various industrial and commercial applications.
  3. Infrastructure Products: This segment manufactures and sells various infrastructure products, such as double-wall corrugated pipes, manholes, and telecommunication ducts.
  4. Water Tanks: This segment manufactures and sells polyethylene water tanks for residential and commercial use.
  5. Paints: This segment manufactures and sells a range of paints for residential, commercial, and industrial applications.

Subsidiaries of Astral Polytechnik 

  1. Seal It Services Limited: Seal It Services Limited is a UK-based company that manufactures and supplies various adhesives, sealants, and other construction chemicals. The company was founded in 1979 and has a strong presence in the UK, Europe, and the Middle East. Seal It Services Limited was acquired by Astral Poly Technik Limited in 2014. This acquisition gave Astral a foothold in the UK market and helped to expand its product portfolio.
  2. Gem Paints Private Limited: Gem Paints Private Limited is an Indian company that manufactures and supplies various paints for residential, commercial, and industrial applications. The company was founded in 1980 and has a strong presence in South India. Gem Paints Private Limited was acquired by Astral Poly Technik Limited in 2022. This acquisition allowed Astral to enter the paints market and helped expand its product portfolio.
  3. Esha Paints Private Limited: Esha Paints Private Limited is a wholly-owned subsidiary of Astral Poly Technik Limited. Esha Paints Private Limited manufactures and supplies various paints for residential, commercial, and industrial applications. The company's product portfolio is similar to that of Gem Paints Private Limited.

Key Personnel 

Sandeep Engineer, Managing Director Sandeep Engineer is the founder and managing director of Astral Limited. This industrialist began his professional journey in the pharmaceutical industry. In 1987, he took a significant step by launching his pharmaceutical venture. His initial move was to join Shree Chemical, where he ventured into manufacturing pharmaceutical intermediates. After 8 years, he embarked on this journey by collaborating with B.F. Goodrich, a well-known US-based Fortune 500 company (now known as Lubrizol), obtained the processing license, marking the first instance in India. This collaboration led to the birth of a new company known as Astral Poly Technik Limited, which has since been rebranded as Astral Ltd.

Corporate Actions

Bonus 
  1. On March 14, 2023, Astral Limited announced a 1:3 bonus issue for its equity shareholders, indicating that for every three shares held, shareholders would receive one additional bonus share.
  2. On March 19, 2021, Astral Limited declared a 1:3 bonus issue for its equity shareholders, allowing them to receive one bonus share for every three shares they held.
  3. On September 17, 2019, Astral Limited initiated a 1:4 bonus issue for its equity shareholders, granting one bonus share for every four shares held by the shareholders.

Management Outlook 

  • The company can expect improved profit margins, driven by the growing preference for premium and high-end household fittings and the development of innovative and luxury housing projects. These segments tend to have higher profit margins.
  • With the rapid growth in the real estate sector, Astral Limited should expand its market presence to cater to the increasing demand for sanitaryware products in various property segments like offices, shopping malls, and hospitality facilities.
  • Astral Limited may need to invest in research and development to offer innovative and attractive products that align with changing customer preferences. This investment can drive higher sales and market share.
  • As demand for bathroom fittings continues to grow, Astral Limited must ensure a streamlined and efficient supply chain to meet market demands promptly. This can help in reducing operational costs and maximising profits.
  • Given the influence of the government's Swachh Bharat campaign in rural and underdeveloped areas, Astral Limited can focus on expanding its market reach to tap into the increased demand in these regions, potentially leading to substantial revenue growth.

Parent Organisation
Indian Private
Managing Director
Sandeep P Engineer
Founded
1996
NSE Symbol
ASTRAL

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Astral Poly Technik Ltd FAQs

Astral Poly Technik Ltd (ASTRAL) share price as of July 15, 2024, on NSE is Rs 2266.85 (NSE) and Rs 2266.85 (BSE) on BSE.
Yes, You can buy Astral Poly Technik Ltd (ASTRAL) shares by opening a Demat account with Angel One.
Astral Poly Technik Ltd (ASTRAL) share can be bought through the following modes:
1. Direct investment: You can buy Astral Poly Technik Ltd (ASTRAL) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Astral Poly Technik Ltd (ASTRAL) shares.
The main business of Astral is to manufacture and provide CPVC piping and plumbing systems along with adhesives domestically.
The main promoters of Astral include Sandeep Pravinbhai Engineer, Saumya Polymers LLP, Jagruti Sandeep Engineer, Kairav Chemicals Limited, and Hansaben Pravinbhai Engineer.
Some of the subsidiaries that come under Astral are Astral Biochem Private Limited, Resinova Chemie Limited, Seal IT Services Limited, UK, and Seal IT Services Inc, USA.
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