with a market valuation of 41,802.68 crore, Astral Limited is a Large-cap company operating in Industrial sector. Astral Pipes is the best CPVC pipe and fitting manufacturer in India. Today, the firm announced its third quarter earnings along with issuance of 1:3 bonus shares.
Astral said in a stock exchange filing that the board of directors has “recommended the issue of Bonus Equity Shares in the ratio of 1:3, that is 1 (one) Bonus Equity Share of Rs 1 each. Subject to the approval of the members of the company.” 1/- each for every 3 (three) fully paid-up Equity Shares, as on the Record Date. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company on Tuesday, March 14, 2023 prescribed as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled to issue Bonus Equity Shares. Ratio of 1 (one) Equity Shares of Re. 1 for every 3 (three) existing Equity Shares of Re. /- each. 1/- each, subject to the approval of the members, being obtained through the Extraordinary General Meeting.”
The paid-up equity share capital after bonus is estimated to be somewhere around Rs. 26,86, 11,572/- comprising of 26,86, 11,572 Equity Shares of Rs. 1 each. Pre-bonus paid-up equity share capital as on date is 20,14,58,679/- comprising of 20, 14,58,679 equity shares. 1. By the estimated date of April 6, 2023, or within two months from the date of approval of the Board, such bonus shares shall be credited.
On a consolidated basis, the company reported revenue from operations of 1267.8 cr in Q3FY23 as compared to Rs. 1102.7 crore in Q3FY22, representing a growth of 15.0%. Astral said its Ebitda has reached 184.4 crore in the quarter ending December 2022 as compared to 203.8 Cr in the year-ago quarter, representing a decline of 9.5% YoY. The company posted Profit Before Tax (PBT) 129.5 cr in Q3FY23 as compared to Rs. 169.7 Cr in Q3FY22, representing a decline of 23.7% YoY. The company recorded profit after tax (PAT) or net profit 94.9 cr in Q3FY23 against 127.9 Cr in the year-ago quarter, representing a decline of 25.8%. Astral’s EPS stood at 4.62 in Q3FY23, down 27.1% YoY 6.34 in the same quarter last year.
Astral Ltd shares closed today on NSE down 1.25% from its previous close of 2,066.00 2,092.15.
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