ASTRAL / Q3-FY24 / claim-ledger

Audit the questions that mattered.

Astral · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ3-FY24 · 2024-01-31Back to quarter ↗

Questions audited

Answered directly

82%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Sanjeev Bhargava · PSK

deflected

What is the fair per kg EBITDA for plumbing?

We are always guiding the EBITDA percentage. Because so many polymer we are dealing today, it is very, very difficult to maintain the per kg EBITDA. So we always request every analyst that please take the number with a percentage EBITDA rather than on a per kg basis.

Sanjeev Bhargava · PSK

direct

What is the percentage EBITDA guidance for plumbing?

So we have guided 16%-17% plumbing EBITDA. Right now, we are working on a higher side, and we will be closing the full year on higher than 17%, because Q4 is always robust in our industry.

Sanjeev Bhargava · PSK

direct

What is the CapEx number for FY2025?

2024, 2025, we will be somewhere around INR 250 crore-INR 300 crore.

Rahul Agarwal · InCred Equities

direct

What is the volume growth outlook for pipes and adhesives?

So I think this year we have already given the guidance of 20% plus volume, and nine months, already we are on 24%, so higher probability that we can cross 20% also. ... 15% plus volume should not be a challenge.

Rahul Agarwal · InCred Equities

direct

What is the UK business margin for Q3?

Yes, yes. So this quarter, INR 81 crore was the top line. Again, that is INR 2.4 crore was the loss, so roughly about 3% negative.

Rahul Agarwal · InCred Equities

partial

What is the final CapEx for Dahej plant?

I think we have already incurred INR 200 crore plus, 200 something on this plant.

Neha Talreja · Nomura

direct

Are raw material prices bottoming out and is restocking happening?

Oh, no, it will bottom out probably in this quarter, and Q1 it will stabilize or start moving up.

Praveen Sahay · Prabhudas Lilladher

partial

Why is volume growth guidance conservative vs peers?

We have not given for the lower side. ... we can also deliver higher than 20% at the end of Q4, but we don't want to get over-optimistic because we don't know...

Venkatesh Balasubramaniam · Axis Capital

direct

What were revenues and EBITDA for bathware this quarter?

This quarter revenue was INR 20 crore and loss was INR 4 crore.

Nikhil Agrawal · VT Capital

evasive

What was the inventory loss in adhesives business?

Well, I don't have it ready, but that, that is the reason our EBITDA was negative by 3% from the U.K. operation.

Akash Shah · UTI Mutual Fund

direct

What is the 9-month revenue and EBITDA margin for UK business?

9-month revenue from UK business is INR 270 crore. ... 5.5, 5.5.

Rahul Agarwal · InCred Equities

direct

What is the capacity expansion plan for Hyderabad and Kanpur?

Yeah. It will be maybe INR 130 crore-INR 150 crore. ... out of total 70, we'll start with 40.