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Astral Poly Technik : Buy for short term gain



Astral Poly Technik Limited (Astral) is engaged in the manufacturing of chlorinated poly vinyl chloride (CPVC)/polyvinyl chloride (PVC) (lead free) pipes and fittings. The Company manufactures CPVC plumbing systems for both residential and industrial applications, and also air single temp metering (ASTM) solvent weld lead free PVC plumbing system. Its major products include Astral FlowGuard CPVC, Astral Corzan CPCV, Astral Aqurius, Astral Under Ground, Astral Aquatek, Astral Blazemaster and Astral Ultradrain. Astral Biochem Private Limited (India) is the subsidiary of the Company.

Astral Poly Technik  announced a substantial rise in standalone net profit for the quarter ended December 2010.  During the quarter, the profit of the company rose 33.69% to Rs 83.83 million from Rs 62.70 million in the same quarter previous year.

Net sales for the quarter for the quarter  surged 45.26% to Rs 984.93 million, while total income for the quarter jumped 49.18% to Rs 1,015.08 million, when compared with the prior year period.

It posted earnings of Rs 3.73 a share during the quarter, registering 33.15% decline over previous year period.



We recommend a buy in the stock of Astral Poly Technik from a short-term perspective.

We are bullish on Astral Poly Technik from a short-term horizon. We expect its uptrend to prolong until it reaches our price target of Rs 170 or Rs 173.5 in the forthcoming trading sessions.