Astral Limited has announced the acquisition of AL-AZIZ Plastics Private Limited, a Mumbai-based manufacturing company engaged in the production of fittings and components used in water, gas, electricity, and solar distribution. The acquisition is valued at ₹33 crore and will be executed through a cash transaction.
In a regulatory disclosure under SEBI’s Regulation 30, Astral confirmed it has signed definitive agreements to acquire 100% equity in AL-AZIZ, an independent entity, with the transaction expected to close on or before June 30, 2025, subject to conditions outlined in the transaction documents.
AL-AZIZ, incorporated in 1997, has over 25 years of manufacturing experience in electrofusion fittings, compression fittings, saddles, electrical fittings, irrigation sprinklers, solar components, and accessories. The company operates manufacturing units in Daman and Maharashtra, and recorded a turnover of ₹51.5 crore in FY25, though it posted a loss of ₹2.03 crore for the year.
Astral stated that the acquisition is aligned with its strategy to diversify product offerings in plastic pipes and fittings, and to expand its capacity across water, gas, electrical, and solar applications. The transaction is not a related party deal and was completed at arm’s length.
With this acquisition, Astral aims to strengthen its position in the infrastructure and utility solutions space, building on its core competencies in plastic manufacturing.
