Nuvama keeps Buy rating for Astral stock at INR 1,771

Nuvama kept a Buy rating on Astral stock and a target of INR 1,771, as TradeBrains reported on October 1, 2026. The broker's view follows Astral's fiscal 2027 first-quarter operating income of INR 15.78 billion, up 15.90 percent year over year.

Profit growth outpaced revenue

According to DSIJ, reported profit reached INR 1.20 billion in the fiscal 2027 first quarter, an increase of 51.80 percent from the year-earlier period. Earnings before interest, taxes, depreciation and amortization rose 25.00 percent to INR 2.31 billion, while the margin expanded to 14.70 percent from 13.63 percent.

The comparison matters because revenue growth was driven by a much stronger profit increase. Plumbing and bathware revenue rose 10.10 percent to INR 10.51 billion, while pipe volumes were flat year over year during the quarter.

Targets reflect the recovery plan

Management maintained fiscal 2027 guidance for at least double-digit pipe-volume growth and a plumbing earnings-before-interest, taxes, depreciation and amortization margin of 16.00 percent to 18.00 percent, according to DSIJ. The same update said ICICI Securities raised its target from INR 1,783 to INR 1,831 on September 23, 2026.

The planned CPVC resin project remains a central operating factor. DSIJ said commercial production is expected in the fourth quarter of fiscal 2027, with the project intended to support growth and margin expansion in fiscal 2028.

NSE range keeps valuation in view

Astral was last quoted at INR 1,344.00 on the NSE on October 1, 2026 at 3:14 p.m. IST, down 1.93 percent from the prior close of INR 1,370.40. The 52-week range was INR 1,311.60 to INR 1,768.70 on that date, placing the quote INR 424.70 below the high, while market capitalization stood at INR 361.1 billion.