Revenue for the quarter declined 1.6% YoY to Rs 1,361 crore, while EBITDA fell 14% to Rs 184.7 crore. Margins also weakened, slipping 195 basis points to 13.6% from 15.5% a year earlier.
The company attributed the weaker performance to volatility in polymer prices, with average PVC prices down about 14% YoY in Q1 and an additional 4-5% sequential drop compared to Q4FY25.
This led to inventory losses and pressure on realizations, though prices have begun stabilizing since July, which management expects will aid demand recovery.
During the quarter, the bathware division delivered a strong performance with sales of Rs 333 million, up 27.4% YoY. The adhesives business in India grew 9.2% with a 14% EBITDA margin, while the paint business expanded 20.7% with a margin of 1.4%. UK adhesives business grew 7.1% with a 5.42% EBITDA margin (0.21% after forex losses).
On the expansion front, Astral increased its plumbing production capacity to 3,87,501 MT from 3,81,957 MT and completed the acquisition of 100% equity in Al-Aziz Plastics Private Limited for Rs 330 million, strengthening its fittings and accessories portfolio.The company also signed an agreement to acquire 80% of NEXELON Chem Private Limited to manufacture CPVC resin, with commercial production targeted for Q2FY27.The shares of Astral Ltd closed flat at Rs 1,382.25 on the BSE on Monday.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)