Astral

Astral Limited’s board decided on July 5 to undertake a comprehensive independent review of the composite scheme of arrangement it had approved on June 25, following feedback from unnamed stakeholders. An external adviser from the big-four or equivalent will be appointed to evaluate the plan—which would demerge the adhesives and construction chemicals business into Astral Chemie and merge Al-Aziz Plastics into Astral—and submit recommendations within 30 days. The board said it will consider the findings before deciding whether to continue, modify, defer or pursue any other course of action regarding the scheme.

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** Shares of Astral Ltd ASTL.NS down 8.5% at 1,360.70 rupees, lowest level since January 22, 2025

** ASTL on track for steepest fall since January 2022

** On June 25, board approved demerger of chemical business, transferring related assets to another co, Astral Chemie Ltd

** ASTL's core plumbing business to merge with Al-Aziz Plastics

** Shares fell 3.24% on Thursday

** RSI at 28.8 indicates stock "oversold" after over 10 months

** CLSA says deal will have limited near-term impact on stock

** Investec notes well-intentioned demerger appears somewhat "premature", values chemical business at 20% discount to Pidilite Industries Ltd PIDI.NS, peers

** Deal sharpens operational focus, enhances strategic flexibility - Antique Stock Broking Ltd/p>

** YTD, stock down 1.89%

(Reporting by Saikeerthi in Bengaluru)

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Astral Limited’s board on June 25, 2026 approved a composite scheme to demerge its adhesives, sealants and construction chemicals business into wholly-owned subsidiary Astral Chemie Limited (formerly Astral Coatings) and simultaneously merge another subsidiary, Al-Aziz Plastics, into Astral. The chemicals business recorded ₹1,266 crore in turnover for FY26, representing 21% of Astral’s standalone revenue, while Al-Aziz Plastics generated ₹37 crore. Under the demerger, Astral Chemie will issue one new equity share for every share held in Astral, resulting in an identical shareholding pattern post-listing. Astral Chemie will seek listing on the NSE and BSE upon regulatory approvals, while Al-Aziz Plastics will be dissolved without a separate share issuance. Managing Director Sandeep Engineer said the reorganisation aims to create focused, agile entities with independent capital allocation and specialised management, enhancing long-term value for stakeholders. The scheme remains subject to approvals from the NCLT, SEBI and stock exchanges.

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Astral Limited's board on June 25 approved a composite scheme of arrangement that will separate its chemicals and adhesives business into a new company, Astral Chemie Limited, and merge its wholly-owned subsidiary Al-Aziz Plastics into Astral. The demerged chemicals undertaking generated ₹1,266 crore in revenue in the year to March 2026, about 21% of Astral's standalone turnover, and will be hived off into Astral Chemie, which is currently a paints and coatings subsidiary. Shareholders of Astral will receive one equity share in Astral Chemie for every one share held, replicating Astral's current shareholding pattern. The resulting company's shares will be listed on the NSE and BSE, subject to regulatory and NCLT approvals. Meanwhile, the amalgamation of Al-Aziz Plastics, a maker of electrofusion and compression fittings, is intended to streamline operations and integrate complementary products into Astral's plumbing business. Managing Director Sandeep Engineer described the restructuring as a step to create two more agile businesses with dedicated leadership and sharper strategic focus.

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** India's Astral ASTL.NS drops 6.5% to 1,445 rupees

** Plumbing firm reports higher quarterly profit and revenue, however, analysts flagged a sharp decline in margins

** Jefferies says sales growth remained strong in Q4 but EBIT margins in adhesives business contracted 55 bps, calling it a "sharp decline"

** Citi says co's strong volume growth was offset by the margins decline in the adhesives segment

** Motilal Oswal analysts flagged rising prices of polymers may further hit margins, even though price hikes have been passed to customers

** Avg rating of 29 analysts on ASTL at "buy"; median PT is 1,721.50 rupees - data compiled by LSEG

** YTD, stock up 4.2%

(Reporting by Kashish Tandon in Bengaluru)

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BENGALURU, May 18 (Reuters) - Diary of India economic, corporate events on May 18

ECONOMIC, CORPORATE .BSE500 EVENTS:

=

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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March 23 (Reuters) - Astral Ltd ASTL.NS:

• AL-AZIZ PLASTICS GRANTED PATENT FOR 'MULTIPORT WATER OUTLET' BY GOVERNMENT OF INDIA

Source text: ID:nBSE1yfppZ

Further company coverage: ASTL.NS

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March 19 (Reuters) - OpenAI said on Thursday it will acquire Python toolmaker Astral, as the ChatGPT owner looks to strengthen its portfolio against rival Anthropic and gain more share in the artificial intelligence coding tools market.

The companies did not disclose the financial terms of the deal, but said the acquisition will bring Astral's suite of developer tools into the Microsoft-backed MSFT.O startup's AI coding system, Codex.

Sam Altman-led OpenAI, which launched its Codex platform last year, is stepping up competition, as Anthropic has gained traction with its Claude Code tool among software developers.

OpenAI launched a desktop app for its coding tools earlier this year.

The company said on Thursday that Codex has more than 2 million weekly active users, marking a three-fold increase in users and a five-fold jump in usage since the beginning of the year.

Astral has become a major player in the Python community. Its tools are designed to improve speed and reliability in Python development.

"OpenAI will continue supporting our open-source tools after the deal closes," Astral founder and CEO Charlie Marsh said in a statement.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Shinjini Ganguli)

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March 16 (Reuters) - Astral Ltd ASTL.NS:

• ASTRAL LTD - ENTERS SHARE SUBSCRIPTION AGREEMENT WITH VENA ENERGY SUSTAINABLE POWER

Source text: ID:nBSEbmYVCS

Further company coverage: ASTL.NS

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Feb 5 (Reuters) - Astral Ltd ASTL.NS:

• ASTRAL LTD DEC-QUARTER CONSOL NET PROFIT 1.08 BILLION RUPEES

• ASTRAL LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 15.42 BILLION RUPEES

Source text: ID:nBSEbQZYdd

Further company coverage: ASTL.NS

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** Pipes and fittings manufacturer Astral India ASTL.NS falls 2.8% to 1,399.8 rupees

** Investec initiates a "fast sell" on ASTL, citing pressure on earnings growth and fully valued stock price

** Says, co faces weak domestic building materials demand, a potential decline in polyvinyl chloride (PVC) pricing and no major uptick in earnings trajectory

** Adds, even if anti-dumping duty notification against cheap PVC imports comes through, brokerage sees limited benefits for meaningful PVC price increases

** YTD, ASTL down ~15%

(Reporting by Ananta Agarwal in Bengaluru)

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** JP Morgan initiates coverage on Indian pipe makers Astral ASTL.NS and Supreme Industries SUPI.NS with "overweight," price targets at 1,700 rupees and 4,930 rupees, respectively

** Shares of ASTL up 2.1% to 1,470.1 rupees, SUPI climbs 2.2% to 4,448.1 rupees

** PTs at ~18%, ~13% premium on last close of ASTL and SUPI, respectively

** JP Morgan sees India pipe majors nearing demand recovery, on the back of strong real-estate construction activity, higher water infrastructure spends and favorable channel inventories

** Expects double-digit volume growth for ASTL, SUPI in FY25-28 vs an 8% rise in the broader industry

** Upbeat on ASTL's leadership position in the chlorinated polyvinyl chloride pipes - a type of thermoplastic pipes - segment; see SUPI's scale and distribution edge as a key positive

** Both stocks rated "buy" on avg, median PTs at 1,494.5 rupees, 4,490 rupees, respectively - data compiled by LSEG

** YTD, ASTL, SUPI down ~11%, ~5%

(Reporting by Manvi Pant in Bengaluru)

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Sept 4 (Reuters) - Astral Ltd ASTL.NS:

• ASTRAL LTD - APPROVES ACQUISITION OF REMAINING 5% IN SEAL IT

Source text: ID:nBSE35QK3n

Further company coverage: ASTL.NS

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** Astral ASTL.NS falls 5.2% to 1,312 rupees; marks biggest one-day pct fall since January 13

** Pipe maker's Q1 consol profit drops 33% y/y; rev down 8.9%

** Co says polymer prices volatile in Q1, with avg prices for polyvinyl chloride, a key raw material for co, falling ~14% y/y

** This resulted in inventory losses, affected realisations, co adds

** Stock rated "buy" on avg; median PT is 1,609 rupees, per data compiled by LSEG

** YTD, ASTL loses ~16%

(Reporting by Yagnoseni Das in Bengaluru)

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** Motilal Oswal initiates coverage on plastic pipe makers Supreme Industries SUPI.NS, Astral ASTL.NS, Prince Pipes PRCE.NS with "buy" rating

** Industry to grow at ~14% CAGR to 805 bln rupees ($9.39 bln) by FY27, driven by housing, irrigation, and sanitation - Brokerage

** Motilal expects SUPI market share to improve on plant addition, growing distribution network; sets PT at 5,400 rupees

** Brokerage says Astral's diversified channel strategy has highest total addressable market among peers; sets PT at 1,800 rupees

** Adds, PRCE's real estate exposure, premium products, 60,000 MTPA plant will enhance reach; sets PT at 500 rupees

** SUPI stock down 1%, ASTL up 0.8% and PRCE gains 3%; Nifty 50 .NSEI up 0.6%

** YTD - SUPI, ASTL, PRCE down ~7%, ~8%, and ~18%, respectively

($1 = 85.7700 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

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April 17 (Reuters) - Astral Ltd ASTL.NS:

• APPROVES ACQUISITION OF AL-AZIZ PLASTICS

• ACQUISITION VALUED AT 330 MILLION RUPEES

Source text: ID:nBSEb8Vv9G

Further company coverage: ASTL.NS

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April 3 (Reuters) - Astral Ltd ASTL.NS:

• GRANTED BIS CERTIFICATE FOR OPVC PIPES

Source text: ID:nNSE7J5H1p

Further company coverage: ASTL.NS

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Jan 30 (Reuters) - Astral Ltd ASTL.NS:

• DEC-QUARTER CONSOL NET PROFIT 1.14 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 13.97 BILLION RUPEES

Source text: ID:nBSE4JtM2k

Further company coverage: ASTL.NS

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Jan 20 (Reuters) - Astral Ltd ASTL.NS:

• STARTS COMMERCIAL PRODUCTION AT GHILOTH PLANT REGARDING SWR FITTINGS

Source text: ID:nBSE7gY2yL

Further company coverage: ASTL.NS

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** Shares of Astral ASTL.NS fall 2.5% to 1745 rupees, their biggest one-day fall since Oct. 22

** Pipe maker's Q2 consol profit drops 16%, hurt by lower demand for products due to heavy monsoon

** Analysts' average rating on stock is "hold," same as peer Cera Sanitaryware CERA.NS

** Analysts' median PT on ASTL is 2025 rupees - LSEG data

** Stock last fell 1%, down 7% YTD

(Reporting by Aleef Jahan in Bengaluru)

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Nov 7 (Reuters) - Astral Ltd ASTL.NS:

• DIVIDEND OF 1.50 RUPEES PER SHARE

• SEPT-QUARTER CONSOL NET PROFIT 1.10 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 13.7 BILLION RUPEES

Source text: ID:nBSE42gWht

Further company coverage: ASTL.NS

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Oct 22 (Reuters) - Indian tile maker Kajaria Ceramics KAJR.NS reported a bigger-than-expected fall in its second-quarter profit on Tuesday amid sluggish domestic demand as monsoon rains slowed construction activity.

Consolidated net profit fell 22% to 842.7 million rupees ($10 million) in the quarter ended Sept. 30 from 1.08 billion rupees a year earlier.

Analysts, on average, had expected a profit of 1.07 billion rupees, according to estimates compiled by LSEG.

Revenue from operations increased about 5%, marking the eight straight quarter of single-digit growth, according to LSEG data.

For further earnings highlights, click: (FWN3LX1FR)

KEY CONTEXT

Tiles demand has been sluggish in the world's most populous country, with strong construction activity in western, eastern, and central India countering weakness in northern and southern parts.

Construction, which was hit by an election-linked slowdown in the first quarter, did not pick up as above-average monsoon rains kept infrastructure activity subdued.

PEER COMPARISON

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

JULY-SEPTEMBER STOCK PERFORMANCE

**

**

-- All data from LSEG

-- $1 = 84.0530 rupees

(Reporting by Yagnoseni Das and Hritam Mukherjee in Bengaluru; Editing by Subhranshu Sahu)

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Aug 8 (Reuters) - Astral Ltd ASTL.NS:

• JUNE-QUARTER CONSOL NET PROFIT 1.2 BILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 13.84 BILLION RUPEES

Further company coverage: ASTL.NS

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** Shares of Astral ASTL.NS drop 3% to 1819.05 rupees as analysts flag valuation concerns

** Pipes maker posts sequential decline in Q3 operating profit due to moderation in pipe volume growth, says Kotak Institutional Equities

** Reiterates "sell", citing rich valuation that "leaves no room for disappointment"

** Antique Stock Broking Systematix Institutional Equities also flags rich valuations despite expecting sustained earnings growth

** ASTL's trailing 12-months PE is 91.65, much higher than peers Finolex FINX.NS and Prince Pipes PRCE.NS - LSEG data

** The mean recommendation of 21 analysts tracking ASTL is equivalent of "hold"

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Shares of Astral Ltd ASTL.NS up as much as 2.6% to 1,957 rupees

** About 4.68 mln shares changed hands at 1,889.80 rupees per share, amounting to 1.74% of all ASTL shares, as per NSE data

** Promoters are looking to sell about 2-3% stake, as per a CNBC-TV18 report

** Stock posts biggest intraday pct gain since Nov. 21

** Stock trading above its 200-day simple moving average since May 5

** Average rating of 20 analysts tracking the stock is "Hold", median PT is 1,956.5 rupees- LSEG data

** Including sessions gains, stock up 31.3% YTD

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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** Shares of Astral Ltd ASTL.NS rise 3% to 1,835 rupees

** The construction supplies and fixtures co said its adhesives division at Dahej plant has started commercial production

** Stock snaps six straight session of falls

** ASTL trading above its 200-day simple moving average since May, 2023

** Analysts covering the stock on average have "hold" rating; median PT is 1,927 rupees - LSEG data

** Stock up 24% YTD, against a 21% YTD rise in Nifty Midcap index .NIFMDCP100

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

Oct 26 (Reuters) - Astral Ltd ASTL.NS:

• STARTED COMMERCIAL PRODUCTION OF ADHESIVES DIVISION AT DAHEJ PLANT

Source text for Eikon: ID:nBSE3JWbwj

Further company coverage: ASTL.NS

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Oct 18 (Reuters) - Astral Ltd ASTL.NS:

• DIVIDEND 1.50 RUPEES PER SHARE

• SEPT-QUARTER CONSOL NET PROFIT 1.31 BILLION RUPEES VERSUS PROFIT 691 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 13.63 BILLION RUPEES VERSUS 11.72 BILLION RUPEES

Source text for Eikon: ID:nBSE2Vhbq7

Further company coverage: ASTL.NS

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Oct 11 (Reuters) - Astral Ltd ASTL.NS:

• STARTED COMMERCIAL PRODUCTION OF PLASTIC WATER STORAGE TANK AND PVC PIPES AT GUWAHATI PLANT

Source text for Eikon: ID:nBSEbSt9Vz

Further company coverage: ASTL.NS

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Aug 1 (Reuters) - Astral Ltd ASTL.NS:

• WILL ACQUIRE 51% SHARES OF GEM PAINTS AGAINST REDEMPTION OF OPTIONALLY CONVERTIBLE DEBENTURES AMOUNTING TO 1.94 BILLION RUPEES

• BALANCE 49% EQUITY STAKE WILL BE ACQUIRED BY ASTRAL OVER A PERIOD OF 5 YEARS IN TRANCHES

Source text for Eikon: ID:nBSE9wrfFp

Further company coverage: ASTL.NS

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