Tag: Astral Poly Technik
Astral Poly Technik Managament Q&A: May, 2011
Astral Poly Technik Management Q&A: Aug, 2012
Astral Poly Technik
Astral Poly Technik
Company Background
Astral Poly Technik (APL) has its production facilities at Gujarat and Himachal Pradesh to manufacture plumbing systems from ½” to 8” diameter. Main products include Chlorinated PVC (CPVC) pipes and fittings for hot and cold water plumbing systems, CPVC industrial piping system for transportation of hazardous and highly corrosive chemicals, and lead free PVC systems for cold water application.
APL was the first licensee of Lubrizol (formerly B. F. Goodrich), USA to manufacture and market CPVC (patent protected) piping and plumbing system in India in 1999. APL entered into a techno-financial joint venture with Specialty Process LLC of USA, which provided the required technical expertise for manufacturing CPVC pipes and fittings for home and industrial applications. Specialty Process LLC, USA has 15.xx% ownership in APL. APL claims to be the only Licensee of Lubrizol in India and neighbouring countries for the use of the trademarks ‘‘BlazeMaster” (since 2006), “FlowGuard” (1998) and “Corzan” (1998).
APL introduced a new product range in lead free PVC pressure pipes and fittings in 2004, again a first in india. With the concept of providing a one-stop source for all plastic piping systems, APL also began trading in products such as CPVC and PVC fittings, flanges and valves from Spears (USA), solvent cements (adhesive solutions) for joining pipes and fittings from IPSC (USA), underground specialty fittings from Hunter (U.K) and CPVC and PVC plastic pipes of a larger diameter from Harvell Inc. (USA).
APL has ISO 9001:2000 certification for manufacture and supply of CPVC and PVC pipes and fittings for plumbing systems and industrial piping system. Astral is the only company in India whose CPVC products are approved by Nations Sanitary foundation (NSF) USA. Astral recently received ISI approval for its CPVC products in the country.
APL’s manufacturing facility at Barotiwal-Solan District (H.P) enjoys tax benefits/ concessions, relating to duties of Sales Tax, Excise and Income Tax. Overall tax rate for the company in FY2010 was 16.90%. These benefits are expected to continue till FY15.
Growth Snapshot
Variable | FY06 | FY07 | FY08 | FY09 | FY10 |
---|---|---|---|---|---|
Sales Turnover (Rs. Cr.) | 58.19 | 101.70 | 144.53 | 205.25 | 304.52 |
Sales Growth Year on Year | 79.47 | 40.71 | 42.30 | 50.15 | |
3yr Average Sales Growth | 54.16 | 44.39 | |||
3yr Sales CAGR | 58.91 | 41.50 | 46.17 | ||
5yr Average Sales growth | 53.16 | ||||
5yr Sales CAGR | 52.41 | ||||
Profit After Tax (PAT) (Rs. Cr.) | 4.02 | 9.11 | 17.07 | 14.19 | 28.03 |
Adjusted EPS | 1.79 | 4.05 | 7.59 | 6.31 | 12.47 |
EPS Growth Year on Year | 126.62 | 87.38 | -16.87 | 97.53 | |
3yr Average EPS growth | 65.71 | 56.01 | |||
3yr EPS CAGR | 106.06 | 24.81 | 28.14 | ||
5yr Average EPS growth | 73.66 | ||||
5yr EPS CAGR | 62.50 |
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Profitability Snapshot
Variable | FY06 | FY07 | FY08 | FY09 | FY10 |
---|---|---|---|---|---|
Operating Profit Margin | 13.76 | 14.10 | 15.23 | 11.54 | 14.45 |
Net Profit Margin | 7.47 | 9.44 | 12.57 | 7.34 | 9.66 |
Fixed Asset Turnover | 2.35 | 3.13 | 3.30 | 2.45 | 3.30 |
Asset Turnover | 1.70 | 1.05 | 1.21 | 1.47 | 1.83 |
Return on Assets | 12.68 | 9.90 | 15.24 | 10.77 | 17.68 |
Financial Leverage | 2.29 | 1.36 | 1.40 | 1.42 | 1.34 |
Return on Equity | 29.03 | 13.48 | 21.37 | 15.30 | 23.73 |
Return on Capital Employed | 20.60 | 13.75 | 19.74 | 16.36 | 24.33 |
Debtor Days | 64.54 | 76.92 | 88.42 | 77.96 | 84.82 |
Inventory Days | 115.01 | 96.49 | 99.96 | 117.11 | 112.53 |
Cash from Operating Activities (Rs. Cr.) | |||||
Operating Cash Flow to Sales | |||||
Capital Expenditure | 11.85 | 28.91 | 32.74 | 17.73 | |
Free Cash Flow | |||||
Free Cash Flow to Sales | |||||
Equity Dividend (Rs. Cr.) | 0.00 | 0.00 | 1.13 | 1.12 | 2.25 |
Dividend per share | 0.00 | 0.00 | 0.50 | 0.50 | 1.00 |
Adjusted DPS | 0.00 | 0.00 | 0.50 | 0.50 | 1.00 |
Dividend Growth Year on Year | -0.88 | 100.89 | |||
3yr DPS CAGR | 41.11 | ||||
5yr DPS CAGR | |||||
Dividend Payout | 0.00 | 0.00 | 6.62 | 7.89 | 8.03 |
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Common size P&L Statement
Variable | FY06 | FY07 | FY08 | FY09 | FY10 |
---|---|---|---|---|---|
Common Size Sales | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 |
Common Size Raw Material | 58.70 | 72.79 | 67.41 | 75.46 | 73.34 |
Common Size Power & Fuel | 1.92 | 1.97 | 2.04 | 2.41 | 2.44 |
Common Size Employee Cost | 4.28 | 3.54 | 3.69 | 3.18 | 2.84 |
Common Size COGS | 62.50 | 76.11 | 71.22 | 79.89 | 77.94 |
Gross Profit Margin | 37.50 | 23.89 | 28.78 | 20.11 | 22.06 |
Common Size Depreciation | 2.55 | 2.28 | 2.40 | 3.20 | 2.96 |
Common Size Interest Cost | 2.34 | 1.95 | 1.98 | 2.75 | 1.67 |
Common Size SG&A | 28.21 | 15.62 | 16.71 | 15.80 | 12.09 |
Operating Profit Margin | 13.76 | 14.10 | 15.23 | 11.54 | 14.45 |
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Financial Health Snapshot
Variable | FY06 | FY07 | FY08 | FY09 | FY10 |
---|---|---|---|---|---|
Financial Leverage | 2.29 | 1.36 | 1.40 | 1.42 | 1.34 |
Debt to Assets | 0.51 | 0.27 | 0.29 | 0.30 | 0.25 |
Debt to Equity | 1.18 | 0.36 | 0.40 | 0.42 | 0.34 |
Interest Coverage | 4.93 | 6.73 | 8.22 | 4.06 | 7.97 |
Interest Cost to Total Debt | 7.73 | 7.68 | 8.37 | 13.60 | 11.98 |
Current Ratio | 2.11 | 3.42 | 3.74 | 2.09 | 1.96 |
Quick Ratio | 1.15 | 2.59 | 2.63 | 1.16 | 1.14 |
Cash to Assets | 3.91 | 39.86 | 23.11 | 1.66 | 2.38 |
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