ICICI Securities raises target for Astral stock from INR 1,783 to INR 1,831

Published on 10/19/2026 at 01:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-quarter revenue rose 15.9 percent to INR 15.78 billion. Astral stock stood at INR 1,427.40 on October 16, 2026, below its INR 1,768.70 high.

Target and operating milestones

ICICI Securities lifted its Astral target from INR 1,783 to INR 1,831 on September 23, 2026.
First-quarter fiscal 2027 revenue reached INR 15.78 billion, while net profit was INR 1.20 billion.
Astral's market capitalization was INR 383.5 billion on October 16, 2026.

Astral, ZAE000013256, Illustration mit AI erstellt.

Astral (ISIN ZAE000013256) became the subject of a higher valuation view after ICICI Securities increased its target from INR 1,783 to INR 1,831 in a September 23, 2026 research update, as reported by Moneycontrol. The report linked the view to healthy pipe demand and the planned CPVC resin plant.

What changed in September

ICICI Securities retained its recommendation and raised the target to INR 1,831 from INR 1,783. The report said the plant remained on track for commercial production in the fourth quarter of fiscal 2027 and could improve pipe margins from fiscal 2028, according to DSIJ.

The target lies 28.27 percent above Astral's NSE price of INR 1,427.40 on October 16, 2026. That comparison uses the target and the dated home-market price, rather than the euro reference framework used for German trading venues.

Three dated milestones

On May 18, 2026, Astral declared a dividend of INR 2.50 per share, according to INDmoney. On August 12, 2026, the company reported first-quarter fiscal 2027 revenue of INR 15.78 billion and net profit of INR 1.20 billion, as listed by Economic Times. The September 23 target increase was the latest of the three milestones.

What does INR 1,831 mean?

The broker's target is 28.27 percent above the October 16 NSE price, while Astral's first-quarter revenue increased 15.9 percent year over year. The operating picture therefore combines a higher valuation reference with reported growth, but the broker also identified sharp PVC-price declines and failure to commercialize the resin plant as risks.

Dates around the next report

Astral's next reporting period ends on September 30, 2026, and its trading window closed from October 1, 2026 until 48 hours after the results announcement, according to FinancialFilings. The filing said the board meeting date for approving those results would be communicated separately.

Valuation stays demanding

Astral's market capitalization was INR 383.5 billion on October 16, 2026, while the NSE 52-week range was INR 1,311.60 to INR 1,768.70. The company describes its operations as plastics and adhesives, with 21 manufacturing units and exports to more than 40 countries on its investor-relations page.

Astral stock was last at INR 1,427.40 on the NSE on October 16, 2026, at 4:01 p.m. IST, with a 52-week high of INR 1,768.70 and a low of INR 1,311.60.