By acquiring the balance 5% stake, the company has increased its holding in Seal IT from 95% to 100%, making it a wholly owned subsidiary.
Seal IT is a subsidiary of the company, involved in the business of the manufacturing of adhesive and sealants. Its turnover was GBP 33.44 million in FY25.
The acquisition of its entire stake is likely result in operational efficiency and fast decision making process. The transaction is expected to be completed on or before 30 September 2025.
Astral is a leading building materials company, with a diversified presence across essential construction and infrastructure product categories.
The company reported a 32.64% year-on-year drop in consolidated profit after tax (PAT) to Rs 81.10 crore for the quarter ended June 2025. Revenue from operations stood at Rs 1,361.2 crore, down 1.62% as against Rs 1,383.6 crore in the same quarter last year.
The counter rose 0.64% to Rs 1,432.35 on the BSE.