Astral Management Guidance Tracker
12 forward-looking guidance items tracked across 3 quarters.
Growth
Management expects 10-15% volume growth in pipes for FY25, with a stretch target of 15% if restocking materializes.
Q3 FY25Pipe volume growth of 10-15% in FY26TrackedManagement expects 10-15% volume growth in pipes next fiscal, aided by a low base and potential demand recovery post-budget.
Q3 FY26Double-digit volume growth for FY26ActiveManagement expects full-year volume growth to exceed 12-13% nine-month run rate, with Q4 likely better than Q3.
Margins
Management reiterated consolidated EBITDA margin guidance of 15-16%, with pipes at 16-18% and adhesives India at 15%.
Q3 FY25UK adhesives EBITDA to improve to 5-10% from Q1 FY26ActiveCorrective measures in UK operations are expected to restore EBITDA margins to historical 5-10% range from Q1 FY26 onward.
Q3 FY26EBITDA margin guidance of 16-18% for pipesActivePipes EBITDA margin guided in 16-18% range; Q3 was 18.2% including inventory loss, so Q4 could be higher.
Q3 FY26Adhesives and paints margin guidance of 12-14%ActiveCombined margin for adhesives and paints targeted at 12-14%, though nine-month actual is 10.8% due to UK and paint losses.
Revenue
Bathware vertical is on track to achieve full-year revenue of INR 100-125 crore, with monthly run rate already at INR 10 crore.
Q2 FY25OPVC revenue target >INR 100 crore in first full yearTrackedManagement targets over INR 100 crore revenue from OPVC in the first full year of commercial production, with three machines installed.
Q3 FY25Bathware revenue to exceed INR 120 crore in FY25ActiveBathware vertical is on track to surpass the guided INR 100-120 crore revenue for FY25, with nine-month sales of INR 83 crore.