EQUITY RESEARCH Astral Poly Technik Ltd

Equity Research Astral Poly Technik Ltd-Free PDF

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Astral Poly Technik Ltd,COMPANY OVERVIEW, Astral Poly Technik is an Ahmedabad based company set up by Mr Sandeep Engineer. and Mr Nimish Dalal in 1999 with a focus towards promoting use of CPVC pipes and. fittings in the country The company is an equity venture with Specialty Process USA for. providing technical support in manufacturing CPVC pipes and a licensee of Lubrizol for. manufacturing its world class plumbing products Flowguard Corzan Aquatek and. Blazemaster in India,Astral Poly Technik A Journey So Far. New Products launched,Astral Ultradrain,Astral Drain Waste. Vent System,Astral Foamcore Pipes, Incorporated in 1999 as Introduced Lead Free Astral Aquasafe. Astral Poly teknic Pvt Ltd PVC pipes in India Astral Column Pipes. Setting up of 2 nd plant in Kenya J V to manufacture. Himachal Pradesh Flowguard pipes,1999 2004 07 2008 09 2010 11.
Initial Public offering Technical Collaboration with. in 2007 of Rs 34 Cr at IPS USA to manufacture Solvent. Setting up of CPVC Rs115 share Modernization and Cement. Pipes and fittings expansion of,Objectives Production in Kenya commenced. Production facility the textile unit,Expansion of Existing Lines. At Kalol Gujarat,Finance for manuf Facilities Commenced structured. Positioned CPVC as For new products yarn dyed business. a premium product Working Capital for existing,In the Galvanized Iron new capacities. Pipe dominated market,Source Company ENAM Direct Research.
28th July 2011 ENAM Securities Direct 2,Astral Poly Technik Ltd. BUSINESS OVERVIEW,Astral Journey So Far,Astral Poly Technik Ltd. CPVC PVC Cement Solvents Others,Hot and Cold Water Cold Water Dist Adheseives. Dist Aquarius Cement Solvent,Flow Bendable Solvent Chemicals. Sewerage Waste Rain,Fire Sprinkles system Ultradrain.
Blazement Aquasafe DWV Wavin,Underground,Industrial. Foam Core Underground,Agriculture HVAC,Heat ventilation. Air conditioner,Astral Aquatek,Source Company ENAM Direct Research. Revenue Rs Cr CAGR 50 Revenue mix FY 11,CPVC PVC Other. FY06 FY07 FY08 FY09 FY10 FY11,EBITDA CAGR 49 PAT CAGR 53.
16 14 14 50,12 30 9 10 12,20 10 17 4,24 23 4 14,0 0 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011. FY06 FY07 FY08 FY09 FY10 FY11,Adj PAT Rs Cr PAT margin. EBITDA Rs Cr EBITDA Margins,Source Company ENAM Direct Research. 28th July 2011 ENAM Securities Direct 3,Astral Poly Technik Ltd. PLUMBING INDUSTRY, Indian plumbing industry is estimated at Rs 17 000 cr market and growing over 15.
CAGR India is predominantly a G I pipe market facing tough competition from PVC and. CPVC pipe manufacturers PVC consumption in India is estimated to be 2 MMT in FY11. which represents a growth of 6 over the previous year India imported about 65k tons of. PVC during FY11 of which 72 were consumed by pipe and fitting market catering. mainly to real estate agriculture oil and gas and industrial piping market. Types of piping systems, z Galvanized Iron Pipes GI G I pipe is widely used in the plumbing industry for. distribution of raw water it is mild steel pipe coated with zinc to prevent from. corrosion However in the longer run they are prone to rust and hence leakage. problems etc, z PVC Pipes are made from combination of plastic vinyl material which is durable. hard to damage and long lasting being non metallic in nature A PVC pipe does not. rust rot or wear over time For that reason PVC piping is now days used for water. transportation underground wiring sewer line etc A drawback of PVC pipes is that. it contains metal Lead Pb which is harmful in the longer run and when fitted in. exteriors the ultraviolet rays of sun affects the quality of water. z CPVC pipes Chlorinated Polyvinyl Chlorine is a patented technology by Noveon. USA used for producing CPVC resins from PVC through the process called. chlorination which enhances the chlorine content of PVC and form an altogether. new range of polymer called CPVC Characteristics like tensile strength capability to. withstand high pressure temperature impact strength capability to withstand high. temperature anti flaming characteristics etc make CPVC distinct from other plastics. Market Size Rs Cr,G I PVC CPVC Others,Source Company ENAM Direct Research. 28th July 2011 ENAM Securities Direct 4,Astral Poly Technik Ltd. Opportunities in Plumbing Industry, According to the ministry of urban development department shortage of housing units in.
the beginning of XIth Five year plan India was reported to be 2 47 cr During the plan total. new construction of pucca houses is estimated to be of the order of 0 6 cr units and. upgradation requirement of semi pucca houses and kutcha houses to pucca houses is of. the order of 0 09 cr and 0 04 cr units respectively Therefore the total new additions to the. housing stock during the 11th plan period are estimated to be 0 73 cr units. Combining the housing shortage at the beginning of the XIth plan period and the. additional requirements during plan the total requirement of urban housing works out to. be 3 2 cr units and taking consideration into the, Therefore housing shortage during the plan period 2007 2012 including the backlog has. been estimated to be 2 65 cr units adjusted to Katcha houses addition to households. addition to housing units, We have tried to derive the potential size of plumbing industry. Particulars Demand,Total Unit No 1 Total Unit No in Cr 2 65. Assumed avg carpet area Sq ft 500 Avg carpet area sq ft Sq ft 500. Assumed bath toilet No 1 Assumed bath toilet No in Cr 2 65. Avg cost of plumbing Rs 13 000 Avg cost of plumbing Rs 13 000. Total cost per bath toilet Rs 13 000 Opportunity size Rs Cr 34 450. Source Ministry of urban development dept Distributors Plumbers ENAM Direct. 28th July 2011 ENAM Securities Direct 5,Astral Poly Technik Ltd. BUSINESS MODEL, Astral s venture is to become a one stop shop for innovative world class plumbing.
products in India and adopt a market penetration strategy through unique approach like. training activities for plumbers and strong distribution network Prior to starting full scale. manufacturing of products Astral prefers to import and test the market Eg Blaze master. Astral Flowguard Bendable Cement Solvent etc this strategy has helped company to. know the exact demand in the market and save from any kind of risks Going forward the. company plans to introduce new products catering to various high growth sectors that. would help diversify risk,I CPVC Pipes and Fittings. CPVC pipes and fittings is the core business of the company from which Astral derives. 64 of the revenues Two of the highest selling products in the CPVC market are Astral. Flowguard and Astral Corzan These two products are global best sellers of Lubrizol for. which Astral has been the first licensee in the country although recently two other players. Ajay and Ashirwad were given licenses to manufacture and market Lubrizol s Flowguard. Astral is the only company in the country to have licenses to manufacture market four. products from Lubrizol s stable namely Astral Flowguard Astral Corzan Astral. Blazemaster and Astral Flowguard Bendable,CPVC Product Profile. Product Features Application, Astral Flowguard Non Corrosive Tough Rigid Material Hot Cold Water Distribution. Chemical Resistance Leakage free Fire Residential Commercial. Resistant Approved World Wide No Scale Hospitals Homes for pure. pit or leach formation Lower Bacterial and hygienic water supply. Astral Flowguard Inner layer of Aluminium provides solid Potable Drinking Water. Bendable strength Cost effective plumbing system Distribution. under slab layers bonded with Adhesives,helps withstand high temperatures Kink. resistant Long term pressure not affected by,chlorine or other disinfectants.
Astral Corzan Solid mechanical strength for operations up to Industrial process piping. 93 C pressure bearing capabilities for 50 Transportation of chemicals. years and beyond Fire chemical resistant,low friction loss. Astral Blazemaster Successfully exposed to temperature of 760 C High rise buildings Schools. and Continuous pressure of 400 psi Low institutions 1 2 family. friction loss easily repairable resistant to dwellings. rust scale and foreign contaminant build up, Astral Column Pipes Strong rigid material high temperature Submersible Pumps. 28th July 2011 ENAM Securities Direct 6,Astral Poly Technik Ltd. Astral s wide array of innovative PVC products fetch 34 revenues with a growth of 30. backed by massive demand coming from replacement market in real estate new projects in. housing municipal corporations and irrigation projects These products have gained immense. popularity amongst builders and architects through continuous brand awareness activities. organized by Astral through out the country, In 2005 Astral introduced Lead Free PVC pipes an innovation by the company s research and. development team this is unique as PVC pipes are made of lead based compounds which are. harmful in the longer run World Health Organization recommends lead free systems for. transportation of potable water,PVC Product Profile.
Product Features Application, Astral DWV Drain Waste Strong Resistance to impact Easy Drain waste and Vent System. Vent to install Cost effective Light in,Weight Easy to handle. Astral FoamCore Multilayer pipe outer inner layer Underground system. of pvc middle layer of foamed pvc,helps maintain shape less weight. on walls compared to, Astral WAVIN Underground Noise Free Light Strong Chemical Drain Sewer Systems in. drainage system Anti Corrosive Non Conductor Residences Commercial. Non Flammable Environmental Complexes Resorts Hospitals. Friendly etc, Astral Aquarius Lead Free high strength to weight Outer Loop Lines.
ratio good impact resistance,durable light weight UV stabilized. Astral Ultradrain No choking High chemical For Soil Waste and Rain Water. resistance Cost effective Groove,and pasting type available UV. stabilized, Astral Aquaktek Fire and chemical resistant non General Plumbing Solutions. toxic and taint free high impact and replacement to failed piping. strength capability system,28th July 2011 ENAM Securities Direct 7. Astral Poly Technik Ltd,III Cement Solvent, Astral has entered in to a technical collaboration with IPS USA to manufacture Cement.
Solvents PVC pipes and CPVC pipes that are used in joining pipes Management expects the. commercial production shall commence from Sept 2012 FY12 Astral s strategic move to acquire. 85 stake in Advance Adhesives Pvt Ltd signifies need for backward integration for cost. reduction and to tap the huge potential in the solvent space. Management expects this venture to contribute a topline of over Rs 150 Cr to the group by. FY15 mainly attributable to the growing consumption of PVC and CPVC pipes and fittings in. the plumbing industry According to the company cement solvent business is 20 22 EBITDA. margin business,Astral International Tie ups,Relationship Product. Specialty Process USA CPVC Pipes and Fittings,IPS USA Cement Solvent Solvent Chemicals. Hunter UK Underground Specialty Fittings,Harvell Inc USA PVC Plastic Pipes Larger Diameter. Spears USA CPVC and PVC fittings flanges and valves. 28th July 2011 ENAM Securities Direct 8,Astral Poly Technik Ltd. CPVC AN ADVANTAGE OVER G I AND PVC,Properties GI CPVC PVC.
Life years 15 20 30 35 20 25, Costlier to CPVC 25 cheaper v s GI Cheaper than G I. 15 costlier v s PVC CPVC, Corrodes faster and Anti Corrosive No effect due to. deteriorates properties chemical resistence, Easily catches fire and Does not catch fire or Less resistance 45 C. Fire Resistant sustains burning sustain burning v s CPVC. resistance upto 95 C, Vulnerable to leakage Leakage free for Leakage free. Heavy tools to cut Simple cutter or Hex Hex Saw Blade. Special Tools,Higher than Copper Extremely Low Relatively Low.
Bacterial Growth, Can occur reducing the Absence of scaling Maintains the flow due. Scaling Pitting and,flow pitting and leaching to absence in scaling. Leaching Full flow,leads to full bore flow pitting. Requires more time No electric heat source Done through cold. Installation energy required done through welding,cold welding. Very High thermal Low thermal Low thermal, Thermal conductivity increases conductivity reduces conductivity.
Conductivity heat loss requires high heat loss requires. Insulation insulation levels reduced insulation,28th July 2011 ENAM Securities Direct 9. Astral Poly Technik Ltd,ABOUT LUBRIZOL, Lubrizol Corporation is a USD 5 4 bn Fortune 500 global specialty chemicals behemoth. catering to transportation industrial and consumer markets With an impressive history. extending back to the 1870s formerly BFGoodrich Performance Materials Lubrizol Advanced. Materials is a leading global producer of advanced specialty polymers polymer based. additives and chemical additives Used in everyday consumer and industrial applications. additives and ingredients can be found in everything you touch from personal care products. to pharmaceuticals plastics technology to performance coatings Businesses include Estane. Engineered Polymers Noveon Consumer Specialties Performance Coatings and TempRite. Engineered Polymers, CPVC Resin technology water based is patented by Noveon Lubrizol This . Astral Poly Technik Ltd Astral is a pioneer amp market leader of CPVC pipes amp fittings in India Astral is a licensee of Lubrizol USA global specialty

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