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Astral Margin Trend — Quarter by Quarter

Astral's EBITDA margin moved from 16.0% in Q2 FY25 to 16.0% in Q3 FY26 across 3 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q3 FY2616.0%-50 bps
Q3 FY2516.5%—
Q2 FY2516.0%-103 bps

What management said about ebitda margin

G

Q3 FY26 · EBITDA margin guidance of 16-18% for pipes

Pipes EBITDA margin guided in 16-18% range; Q3 was 18.2% including inventory loss, so Q4 could be higher.

G

Q3 FY26 · Adhesives and paints margin guidance of 12-14%

Combined margin for adhesives and paints targeted at 12-14%, though nine-month actual is 10.8% due to UK and paint losses.

G

Q3 FY25 · UK adhesives EBITDA to improve to 5-10% from Q1 FY26

Corrective measures in UK operations are expected to restore EBITDA margins to historical 5-10% range from Q1 FY26 onward.

G

Q2 FY25 · Consolidated EBITDA margin 15-16%

Management reiterated consolidated EBITDA margin guidance of 15-16%, with pipes at 16-18% and adhesives India at 15%.