ASTRAL POLY TECHNIK LTD
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BSE Code:
532830
NSE Code:
ASTRAL
Business Profile
Business Profile
Astral Poly Technik (ASTRAL) manufactures and provides chlorinated poly vinyl chloride (CPVC) piping and plumbing systems. The company was incorporated on Mar. 25, 1996 and got its current name on Sep. 29, 2006. The non-executive chairman is K. Raghunath Shenoy and Sandeep P. Engineer is the managing director. The company is the first licencee of Noveon, USA and has an equity joint venture with Specialty Process, USA to manufacture and market CPVC plumbing system in India.
The company manufactures CPVC plumbing systems for both residential and industrial applications including lead-free PVC pressure pipes and fittings. It trades in 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 large diameter plastic pipes from Harvell (USA). Brand names include Astral Flowguard, Astral Corzan, and Astral Aquarius. The company has tied up with Singapore-based Tyco for exporting ABS plumbing system from its new product line.
Production facilities at Gujarat and Himachal Pradesh manufacture plumbing systems. The expansion plan will increase capacity to 9,074 million tons in the first phase by FY07, and to 18,000 million tons by FY08. The company is ISO 9001:2000 certified. With over 120 distributors and 2000 retail outlets in more than 25 states of India, its clientele includes Reliance Industries, Cadila Healthcare, Tata Steel, Hindustan Lever, Hindalco, Parsvnath, Nagarjuna Constructions besides big hotels and PSUs such as IFFCO and NTPC. It exports to Malaysia, Philippines, Sri Lanka, Bangladesh and Bhutan.
The registered and corporate offices are at 901, Parshwa Towers, opposite Rajpath Club, Sarkhej-Gandhinagar Highway, Ahmedabad-380054.
Financials
Astral Poly Technik registered a profit of Rs 30.01 million for the quarter ended June 2007.
It recorded a net sales of Rs 232.05 million for the quarter.
Total income was Rs 242.07 million for the quarter ended June 2007.
The earnings per share of the company stood at Rs 2.67 for the quarter ended June 2007.
Recent Developments
20-MAR-07
Effective from Mar. 20, 2007, the equity shares of Astral Poly Technik were listed and admitted to dealings on the BSE exchange in the list of B1 group securities.
13-FEB-07
Astral Poly Technik has proposed to enter the capital market on Feb. 14, 2007 with a public issue of 2,971,000 equity shares of Rs 10 each at a price of Rs 115 an equity share aggregating Rs 341.665 million. The issue closes on Feb. 22, 2007. The issue includes employee reservation of 150,000 equity shares aggregating Rs 17.25 million. The issue and the net issue (after allowing for employee reservation) would constitute 26.44% and 25.10% of the post issue paid up capital of the company respectively.
13-DEC-06
Astral Poly Technik will now manufacture and market the `BlazeMaster` fire sprinkler system under an agreement with the USD 4-billion global specialty chemical company, Lubrizol, whose wholly-owned subsidiary Noveon makes BlazeMaster.
Future Plans
Astral Poly Technik is planning an expansion of its existing line of business i.e. CPVC pipes and fittings, Astral flow guard and Astral Corzan and PVC pipes and fittings. The proposed expansion program is aimed at increasing two kinds of capacity of the existing product line and new product lines such as piping or extrusion capacity and fitting or molding capacity.
The company has planned to introduce products such as Astral underground systems, Astral Blazemaster fire sprinkler system and Astral SWR (Phase II).