Home / Markets / Stock Markets /  Large cap stock Astral declares 1:3 bonus shares, posts 15% revenue growth in Q3

With a market valuation of 41,802.68 Cr., Astral Ltd. is a large-cap company that operates in the industrial sector. The finest CPVC pipe and fitting manufacturer in India is Astral Pipes. Today, the firm announced its Q3 earnings along with a 1:3 bonus share issuance.

Astral said in a stock exchange filing that the Board of Directors has “Recommended issue of bonus equity shares in the proportion of 1:3, that is 1 (One) bonus equity share of Re. 1/- each for every 3 (Three) fully paid-up equity shares held, as on the record date, subject to approval of the Members of the Company. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Tuesday, March 14, 2023 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares in the proportion of 1 (One) Equity Shares of Re. 1/- each for every 3 (Three) existing Equity Shares of Re. 1/- each, subject to the approval of Members, which is being obtained through Extra Ordinary General Meeting."

The post-bonus paid-up equity share capital is anticipated to be somewhere around Rs. 26,86, 11,572/- comprising of 26,86, 11,572 equity shares of Re. 1/- each. The pre-bonus paid-up equity share capital as of the date is 20,14,58,679/- consisting of 20, 14,58,679 equity shares of 1. By the estimated date of April 6, 2023, or within two months after the date of board approval, such bonus shares would be credited.

On a consolidated basis, the company reported revenue from operations of 1267.8 crore in Q3FY23 compared to 1102.7 crore in Q3FY22, representing a growth of 15.0%. Astral said its EBITDA reached 184.4 crore in the quarter ended December 2022 compared to 203.8 Cr in the year-ago quarter, representing a fall of 9.5% YoY. The company posted profit before tax (PBT) of 129.5 crore in Q3FY23 compared to 169.7 Cr in Q3FY22, representing a fall of 23.7% YoY. The company recorded profit after tax (PAT) or net profit of 94.9 crore in Q3FY23 against 127.9 Cr in the year-ago quarter, representing a fall of 25.8%. The EPS of Astral stood at 4.62 in Q3FY23, down by 27.1% YoY from 6.34 in the same quarter last year.

The shares of Astral Limited closed today on the NSE at 2,066.00, down by 1.25% from the previous close of 2,092.15.

Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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