Revenue rose 15.9% year-on-year to ₹1,578 crore from ₹1,361 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 23% to ₹231 crore, compared with ₹188 crore a year earlier. EBITDA margin stood at 14.7%, up from 13.8%.
The company’s net profit was above the CNBC-TV18 poll estimate of ₹116 crore, while revenue was below the ₹1,588 crore estimate. EBITDA was in line with the ₹231 crore poll estimate, while the EBITDA margin was ahead of the 14.6% estimate.
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Astral had consolidated cash, including cash equivalents and bank balances, of ₹466.6 crore as of June 30, 2026.
Plumbing business
Astral said demand in the plastic pipe industry was weak in Q1 FY27, primarily due to volatility and a downward trend in polymer prices. Industry demand declined by approximately 10%, while Astral’s volumes remained flat.
The company said it continued to gain market share in the piping industry, with its growth the highest among leading plastic pipe players. Plumbing EBITDA margin stood at 18.9%.
Better realisation resulted in 10.1% value growth in Q1 FY27 despite flat volume growth. Astral expects this trend to continue in the coming quarter as PVC prices move higher in Q2, and the implementation of the Minimum Import Price (MIP) is expected to help stabilise PVC prices, particularly by protecting the bottom price.
During the quarter, Astral increased its pipes and fittings production capacity to 4.21 lakh metric tonnes (MT) from 4.18 lakh MT.
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The company’s new 40,000 MT CPVC resin plant, Phase I, is progressing as scheduled and is expected to be ready by December, with trial runs planned in Q4 FY27.
Astral expects the plant to help increase its market share in CPVC pipes and fittings and improve margins, with the full benefit expected from FY28 onwards. The bathware business grew 18.1% in sales during the quarter.
Adhesives business expands
Astral’s India adhesives business reported 24.9% sales growth in Q1 FY27, with an EBITDA margin of 12.2%. New Bharat accelerated its rural expansion, adding more than 8,000 towns during the quarter and taking its direct dealer count beyond 1,500, including more than 500 additions in Q1.
Joinery gained early traction across eight states, with the business set to scale through portfolio expansion, deeper woodworking penetration and continued product innovation.
Sales through modern trade and digital commerce platforms expanded, while the business continued to maintain its best-seller position on these platforms. Construction Chemicals growth was driven by the Trubuild relaunch, sharper category focus and accelerated pan-India expansion in tile adhesives.
Astral said higher raw material prices in inventory and the time gap between raw material price increases and corresponding price hikes put pressure on adhesive margins. The company expects this pressure to ease in the next quarter.
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Overseas adhesives grow 26%
The international adhesives business grew 26% in sales during Q1 FY27 and reported a positive EBITDA margin of 4.9%. Astral had earlier guided for more than 10% revenue growth in the overseas adhesives business for the year. The company said it expects recovery in the business during the current year.
Paint business records 48.7% growth
Astral’s paint business reported 48.7% sales growth in Q1 FY27, its first time achieving this level of growth, with EBITDA at break-even. All six operating states contributed to the paint business growth, with the company reporting growing market acceptance across geographies.
Shares of Astral Ltd ended at ₹1,458.95, down by ₹35.95, or 2.53%, on the BSE.
