Astral reported a 5.9% year-on-year decline in consolidated net profit to ₹127 crore for the second quarter of FY27, compared with ₹135 crore in the corresponding quarter last year. Revenue from operations rose 26.1% to ₹1,988 crore from ₹1,577 crore a year ago.
EBITDA increased marginally by 1.6% to ₹261 crore from ₹257 crore in the year-ago period. However, EBITDA margin contracted to 13.1% from 16.3% in the corresponding quarter last year.
According to the company’s exchange filing, the plumbing business reported revenue of ₹1,398.3 crore, up 25% from ₹1,118.6 crore in Q2 FY26. Segment EBITDA increased 6.9% to ₹227.6 crore from ₹212.9 crore.
The paints and adhesives business recorded revenue of ₹590 crore, registering a 28.6% year-on-year increase from ₹458.8 crore. However, segment EBITDA declined 19.2% to ₹44.7 crore from ₹55.3 crore in the year-ago quarter.
Sees strong pipe demand, reports 10% plumbing volume growth in H1
Astral said demand conditions in the plastic pipes industry remained robust during the September quarter, supported by a weak base in the first quarter of FY27 and low inventory levels across the system.
The company said polymer prices initially declined in early July before moving upwards from the middle of the month, supporting industry volumes. Astral added that it continued to gain market share and reported 10% growth in its plumbing pipes business during the first half of FY27.
Astral also said it remained on track to achieve its guidance of double-digit volume growth in the plumbing business for the full financial year 2026-27. It also reported an EBITDA margin of 17.4% in the plumbing business during H1 FY27, the highest among industry players, and within its annual guidance range of 16-18%.
Expects better margins in Q3 after passing on PVC, CPVC price hikes
On margins, Astral said the increase in polymer prices during Q2 FY27 put pressure on margins as the full price pass-through took place in Q3 FY27.
The company said it had already passed on the entire price increase for PVC and CPVC products in the current quarter and expects better margins and realisations in Q3 FY27.
40,000-tonne CPVC resin plant on track for Q4 FY27 commissioning
Astral said the first phase of its 40,000 metric tonne CPVC resin backward integration plant is progressing as scheduled. Machinery installation is currently underway, with trials expected to be completed by Q4 FY27 and the plant targeted to be ready for commercial operations by the same quarter.
The company expects the facility to help it gain market share in CPVC pipes and fittings and improve margins. The full benefits of the project are expected to be realised from FY28 onwards.
Adhesives sales grow 25.3%, raw material costs weigh on margins
Astral’s India adhesives business recorded sales growth of 25.3% during Q2 FY27, with an EBITDA margin of 10.9%.
The company said it continued to gain market share in the domestic adhesives business. However, margins remained under pressure due to elevated raw material prices amid geopolitical developments and a time lag in passing on higher costs to customers. Astral expects to address the margin pressure in the coming quarters.
Expands specialty chemicals portfolio with DSS acquisition
Astral said its wholly owned subsidiary, Astral Chemie, formerly known as Astral Coatings Pvt, acquired a 60% partnership interest in Differentiated & Sustainable Solutions LLP (DSS), effective April 1, 2026.
The acquisition, completed in the first quarter of FY27, marked the company’s entry into the specialty chemicals segment. DSS contributed revenue of ₹12.04 crore and EBITDA of ₹1.66 crore on a standalone basis during the first half of FY27.
Astral said infrastructure upgrades and capacity expansion are underway to support higher volumes and portfolio expansion in FY28.
Astral announces interim dividend
The company’s board has approved an interim dividend of ₹1.50 per equity share of face value ₹1 each for FY27. Astral has fixed November 13, 2026, as the record date to determine shareholders eligible to receive the interim dividend.
Reports goodwill impairment of ₹9.5 Crore In H1 FY27
Astral disclosed an impairment of goodwill relating to its US subsidiary Seal It Services Inc. The impairment was recognised after considering past performance and changes in economic and market conditions.
The company reported an impairment charge of ₹4.1 crore for the year ended March 31, 2026, and ₹9.5 crore for the quarter and half year ended September 30, 2026, respectively, under exceptional items in the Statement of Profit and Loss.
Astral Q2 results: Revenue rises 26%, profit slips 6%; Company expects margin recovery in Q3