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Astral Limited (ASTRAL) Fair Value & Analysis

Industrials · IN · Market cap ₹358B

AL Astral Limited ASTRAL · NSE
Price₹1,449
Fair Value₹419.45
Upside-71.0%
Quality60/100
Healthy Growth
Thin margins · 8.2% net margin
Low debt · generates free cash flow
0.30% dividend yield
Mixed vs. peers (8/14)
Moderate moat 55/100
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Evidence: High Range ₹314.59 – ₹710.80 Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 19 days ago

Share price +6.4% over the past month.

A solid business, but screening 71% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹710.80). The favourable scenario is already priced in.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹314.59 to ₹710.80) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹2,417 ₹1,065 Fair Value ₹419.45 Apr 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range ₹1,065 – ₹2,417 · fair‑value band ₹314.59 – ₹710.80 · the ₹1,449 price screens above the ₹419.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Astral Limited (ASTRAL) currently trades at ₹1,449, while our model-based Fair Value estimate is ₹419.45, implying the stock looks roughly 71.0% overvalued today. We read business quality at 60/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Astral Limited generated revenue of ₹65.7B at a net margin of 8.2%. Revenue grew 24.2% year over year. It earns a return on equity of 13.8%. The balance sheet holds a net cash position of ₹6.9B. Fundamentals as of Jul 16, 2026

Our scenario range runs from ₹314.59 (bear case) to ₹710.80 (bull case); at ₹1,449, the current price sits above that range. The share trades about 18% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -33% fair-value upside, at -71%, ASTRAL screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ₹407.61 ₹763.92 ₹1,509 80
Residual Income ₹146.61 ₹188.90 ₹530.92 76
Rev-Margin DCF ₹342.80 ₹662.29 ₹1,157 74
All 26 models by family
DCF Models
FCF DCF ₹429.76 ₹679.19 ₹1,483 38
Owner Earnings ₹260.64 ₹567.69 ₹1,241 31
5Y Revenue Exit ₹342.80 ₹591.50 ₹1,092 39
5Y EBITDA Exit ₹421.73 ₹756.88 ₹1,390 41
5Y P/E Exit ₹358.29 ₹720.86 ₹1,199 38
10Y Revenue Exit ₹356.11 ₹724.14 ₹1,057 36
10Y EBITDA Exit ₹425.69 ₹887.02 ₹1,762 37
10Y P/E Exit ₹379.19 ₹756.11 ₹1,422 35
Earnings-Based
Graham-Dodd ₹135.82 ₹947.21 ₹1,329 54
Lynch FV ₹314.45 ₹449.21 ₹583.98 50
PEG = 1.0 ₹314.45 ₹449.21 ₹583.98 46
EPV ₹245.09 ₹282.69 ₹316.11 59
Dividend Discount
Gordon GGM ₹36.06 ₹78.72 ₹132.44 70
DDM Multi-Stage ₹36.06 ₹64.48 ₹82.03 61
Multiples
P/E Multiple ₹299.61 ₹399.48 ₹499.35 63
P/S Multiple ₹254.67 ₹339.56 ₹424.45 58
P/B Multiple ₹254.67 ₹339.56 ₹424.45 55
EV/EBIT ₹418.11 ₹546.80 ₹675.49 53
EV/EBITDA ₹416.69 ₹544.91 ₹673.13 54
EV/Revenue ₹292.27 ₹403.81 ₹515.34 43
Asset-Based
NCAV (Graham) ₹75.52 ₹101.20 ₹151.05 50
Growth DCF
Growth DCF ₹407.61 ₹763.92 ₹1,509 80
Rev-Margin DCF ₹342.80 ₹662.29 ₹1,157 74
Economic Profit
Residual Income ₹146.61 ₹188.90 ₹530.92 76
ROIC Compounder ₹308.71 ₹465.44 ₹594.66 72
Growth Earnings
Growth-Adj P/E ₹407.44 ₹582.05 ₹756.67 68

Widest divergence: DCF Models (₹720.86) versus Dividend Discount (₹64.48). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) ₹65.7B
Revenue growth (YoY) +24.2%
Net margin 8.2%
Return on equity 13.8%
Free cash flow ₹6.0B FY2026
P/E ratio 76.3
More key figures
Operating margin 14.8%
EPS (TTM) ₹19.90
Dividend yield 0.3%
EPS growth (YoY) +18.9%
Net cash ₹6.9B FY2026

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 65 · Market factors (momentum, volatility) 49

Profitability 59
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 36
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Astral Limited engages in the manufacture and marketing of pipes and fittings, water tanks, and adhesives and sealants in India and internationally. It operates in two segments, Plumbing, and Paints and Adhesives.

Full company description

Astral Limited engages in the manufacture and marketing of pipes and fittings, water tanks, and adhesives and sealants in India and internationally. It operates in two segments, Plumbing, and Paints and Adhesives. It offers plumbing pipes and fittings, sewerage and drainage pipes and fittings, agriculture pipes and fittings, cable protection system, industrial piping system, fire protection system, urban infrastructure, ancillary products, and column pipe; and roto moulding, blow moulded, loft, and anti-viral copper shield water tanks. It also provides bath-ware products comprising faucets, sanitarywares, cisterns, and showers; paints, such as interior and exterior emulsions, distempers, enamels, and primer and wall putty undercoats; adhesives and sealants, including epoxy, PVA, rubber, anaerobic tapes, silicone, acrylic, hybrid, instant, solvent, specialised, industrial adhesives, and epoxy putty; specialized valves, such as compact true, single union, and industrial ball valves; construction chemicals comprising bathroom and basement waterproofing, tile adhesives and grouts, exterior roof and wall coatings, polymers and integral compounds, and repair products; and infrastructure products comprising drainage, cable protection, and PT duct systems; and specialised fittings, such as electrofusion, compression, PPR fittings, integrated and mechanica clamp, integrated composite strap-on saddles, PVC conduit for concealed wiring system, and investment castings. The company was formerly known as Astral Poly Technik Limited and changed its name to Astral Limited in April 2021. Astral Limited was incorporated in 1996 and is headquartered in Ahmedabad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Astral Limited reported revenue of ₹65.7B in FY2026 versus ₹43.9B in FY2022, a compound +10.6%/yr. Reported net income was ₹5.4B in FY2026, compounding +2.6%/yr from FY2022.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹65.7B
Latest YoY
+12.6%
Avg. growth/yr (3Y)
+8.4%
Avg. growth/yr (5Y)
+15.6%
Avg. growth/yr (24Y)
+32.3%
Revenue +10.6%/yr
FY22 ₹43.9B
FY23 ₹51.6B
FY24 ₹56.4B
FY25 ₹58.3B
FY26 ₹65.7B
Net income +2.6%/yr
FY22 ₹4.8B
FY23 ₹4.6B
FY24 ₹5.5B
FY25 ₹5.2B
FY26 ₹5.4B

ASTRAL screens 71% overvalued. Compare with Trane Technologies plc →

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Cite: Fair Value Calculator (2026). "Astral Limited Fair Value". https://www.fairvalue-calculator.com/stock/ASTRAL.NSE

Peer Group

Building Products & Equipment · 256 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 60 · Top 25%
Fair Value upside −71% · Bottom 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 8% · Above median
Operating margin (TTM) 15% · Top 25%
Revenue growth 24% · Top 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Building Products & Equipment median · lower = cheaper

P/E (TTM) 66.5× · Pricier than 75% of peers
P/B 8.81× · Pricier than 75% of peers
P/S (TTM) 5.44× · Pricier than 75% of peers
P/FCF 0.6× · Cheaper than median
EV/EBITDA 32.9× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 9
PAST 55 · sector 22
HEALTH 99 · sector 94
DIVIDEND 6 · sector 27

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Building Products & Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Trane Technologies plc TT $469.98 $212.34 -55%
Johnson Controls International plc JCI $142.81 $45.65 -68%
Carrier Global Corporation CARR $68.61 $17.35 -75%
Compagnie de Saint-Gobain S.A SGO €76.62 €101.60 +33%
Geberit AG GEBN CHF 523.20 CHF 307.66 -41%
Lennox International Inc LII $543.93 $363.09 -33%
Kingspan Group KRX €87.30 €70.76 -19%
Masco Corporation MAS $78.04 $54.36 -30%
PT Impack Pratama Industri Tbk, IMPC 1,420 IDR 179.76 IDR -87%
NIBE Industrier AB NIBEB kr 36.03 kr 25.37 -30%

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Frequently asked questions

Is Astral Limited (ASTRAL) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of ₹419.45 versus a price of ₹1,449, about −71% (overvalued).
What is the fair value of ASTRAL?
Our model-based fair value for Astral Limited is ₹419.45 (as of Jul 16, 2026), built from audited fundamentals. The current price is ₹1,449.
What is the quality score of ASTRAL?
Astral Limited has a Quality Score of 60/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Astral Limited (ASTRAL)?
Astral Limited reported trailing-twelve-month revenue of about ₹65.7B (latest available figure, as of Jul 16, 2026).
What is the net profit margin of ASTRAL?
The net profit margin of Astral Limited is about 8.2%, meaning it keeps roughly 8.2% of revenue as net income. Based on the latest reported figures.
Does Astral Limited pay a dividend?
Astral Limited currently shows a dividend yield of about 0.26% relative to its recent price (as of Jul 16, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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