ASTRAL · Capital Goods
Astral Ltd. reported revenue of ₹1,361 cr for April to June 2025, −1.7% on the year and −19.0% on the quarter. Over the last four quarters revenue comes to ₹5,809 cr, +1.2% on the four before.
Operating profit (EBITDA) was ₹185 cr, a margin of 13.6%, −187 bps on the year and −437 bps on the quarter. It is the narrowest margin of the last 8 quarters (range 13.6% to 18.0%). Operating costs grew +0.5%, faster than revenue at −1.7%, so operating profit grew less than sales.
Net profit was ₹79.0 cr, −34.2% on the year and −55.6% on the quarter, with earnings per share of ₹3.02. Profit before other income, one-offs and tax fell 33.1%, so the profit growth came from the business itself. The tax rate of 28% is in line with its recent average. Profit over the last four quarters totals ₹479 cr, −12.3% on the four before.
Capital goods and EPC revenue follows project execution, which makes quarters uneven; the order book and new orders tell more about the year than one quarter does. The quarterly statements do not carry the order book, new orders and working capital; those come with the filing read.
On earnings per share of ₹18.03 over the last four quarters, the stock at ₹1,435.40 trades at 79.6 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Operating margin slipped on the year.
EBITDA margin 13.6%, −187 bps on the year (−437 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,370 cr | ₹1,625 cr | ₹1,384 cr | ₹1,370 cr | ₹1,397 cr | ₹1,681 cr | ₹1,361 cr | ₹1,577 cr | ₹1,542 cr | ₹2,088 cr | ₹1,578 cr | ₹1,988 cr |
| YoY | — | — | +8% | +1% | +2% | +3% | −2% | +15% | +10% | +24% | +16% | +26% |
| EBITDA margin | 15.0% | 17.9% | 15.5% | 15.3% | 15.7% | 18.0% | 13.6% | 16.3% | 15.4% | 18.3% | 14.7% | 13.1% |
| Other income, % of PBT | 4% | 4% | 7% | 6% | 8% | 4% | 8% | 6% | −5% | 4% | 8% | 7% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | −₹9.5 cr |
| Tax rate | 26% | 25% | 27% | 27% | 27% | 25% | 28% | 25% | 25% | 28% | 26% | 26% |
| Net profit | ₹113 cr | ₹181 cr | ₹120 cr | ₹109 cr | ₹113 cr | ₹178 cr | ₹79.0 cr | ₹135 cr | ₹108 cr | ₹213 cr | ₹120 cr | ₹127 cr |
| YoY | — | — | +1% | −17% | 0% | −2% | −34% | +24% | −4% | +20% | +52% | −6% |
| Core profit YoY | — | — | +1% | −15% | −4% | −2% | −33% | +20% | +6% | +26% | +49% | +1% |
| EPS | ₹4.23 | ₹6.76 | ₹4.48 | ₹4.09 | ₹4.25 | ₹6.67 | ₹3.02 | ₹5.02 | ₹4.01 | ₹7.93 | ₹4.47 | ₹4.73 |
| Flags | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | 2 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Astral Ltd. reported revenue of ₹1,361 cr (−1.7% on the year) and net profit of ₹79.0 cr (−34.2% on the year) for April to June 2025.
Profit before other income, exceptional items and tax moved −33.1% on the year, against −34.2% for reported profit.
None of the 7 checks that could run raised a question.
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.