ICICI Direct's research report on Astral
Astral is the leader in the CPVC piping segment and expanding into the adhesive business. Astral is the third-largest piping company with a value market share of 9%. Piping, adhesive contribute 76%, 24%, respectively, to topline a Healthy balance sheet reflected in strong return ratios (RoE: ~21.5%, RoCE: ~27.5%)
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