Astron Paper & Board Mill Ltd.

•

astronpaper.comBSE: 540824NSE: ASTRON

Market Cap₹ 14 Cr.

Current Price

High / Low₹ 19 / 3

Stock P/E0.0

Book Value₹ 17

Price to Book0.49

Dividend Yield0.00 %

ROCE-19.3 %

ROE-41.5 %

Face Value₹ 10

Add ratio to table

ABOUT

PROS

Working capital cycle has improved - days down from -4 to -147
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Company has a low return on equity of -19.7% over last 3 years
Company has a low return on capital employed of -9.3%
Interest coverage is weak at -3.3x - earnings barely cover interest
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.18x)
Company's sales have been declining over the last five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Forest MaterialsPaperPaper & Paper Products

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	JKPAPER	410.30	22.94	7439.51	0.97	136.27	59.49	1887.17	12.72	7.80	15.39
2.	WSTCSTPAPR	656.60	18.88	4336.77	0.46	141.84	135.37	1051.26	10.12	7.11	19.34
3.	SESHAPAPER	235.30	14.99	1483.99	0.85	31.91	106.80	492.08	27.68	5.60	8.85
4.	ANDHRAPAP	63.37	45.62	1260.11	0.79	303.16	1322.95	3937.71	900.89	1.99	12.39
5.	TNPL	154.45	4.10	1068.96	2.59	57.40	874.63	11466.40	903.98	5.85	10.02
6.	PDMJEPAPER	94.76	9.88	899.75	0.63	33.72	-6.95	202.92	3.29	20.10	17.53
7.	NRAIL	498.20	13.65	847.89	0.40	34.98	111.33	646.96	43.09	8.25	11.48
8.	KUANTUM	75.97	18.35	662.94	3.29	6.23	-48.34	303.75	36.87	5.24	13.20
9.	SATIA	60.94	0.00	609.40	0.66	-171.20	-641.72	3618.15	875.45	10.53	14.04
10.	RAMANEWS	33.09	0.00	488.15	0.00	-10.50	-29.46	9.72	6.02	1.87	-7.68
11.	BBTCL	227.15	14.00	465.91	0.00	14.39	727.77	180.47	18.53	3.03	18.69
12.	ASTRON	3.09	0.00	14.37	0.00	-6.11	46.06	0.07	-92.05	-20.23	-3185.71

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	92	78	81	73	78	58	36	1	1	1	0	1	0
	90	76	78	71	83	67	43	16	3	1	1	0	2
Operating Profit	2	2	2	3	-4	-9	-7	-15	-2	-0	-1	1	-2
OPM %	2.06%	2.91%	2.88%	3.55%	-5.31%	-15.43%	-20.47%	-1112.50%	-234.09%	-13.28%	—	71.03%	-2714.29%
	0	0	0	0	1	1	0	0	0	0	0	0	0
Interest	3	2	3	3	3	3	3	3	3	3	2	4	2
Depreciation	2	2	2	2	2	2	2	2	2	2	2	2	2
Profit before Tax	-2	-2	-1	-1	-8	-13	-12	-20	-7	-5	-4	-4	-6
Tax %	25.49%	23.53%	31.91%	28.47%	37.25%	29.28%	23.97%	-33.64%	-15.36%	-0.00%	-0.00%	-0.00%	-0.00%
Net Profit	-2	-1	-1	-1	-5	-9	-9	-26	-8	-5	-4	-4	-6
	-0.32	-0.25	-0.20	-0.21	-1.07	-1.91	-1.99	-5.63	-1.73	-1.07	-0.97	-0.96	-1.19

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	157	183	253	374	359	435	513	395	311	96	3
	138	166	221	324	325	408	486	410	308	129	5
Operating Profit	19	17	32	50	34	27	27	-15	3	-33	-2
OPM %	12.38%	9.54%	12.47%	13.40%	9.48%	6.29%	5.20%	-3.78%	0.98%	-34.87%	-67.50%
	0	5	1	1	2	3	2	2	2	0	0
Interest	11	11	10	10	10	10	8	10	11	12	11
Depreciation	3	3	4	5	5	6	6	6	6	6	6
Profit before Tax	6	8	19	36	20	15	14	-29	-12	-51	-19
Tax %	4.26%	-19.78%	-10.16%	32.85%	34.06%	34.27%	37.04%	28.68%	28.23%	-2.07%	-0.00%
Net Profit	6	10	21	24	13	10	9	-21	-9	-52	-19
EPS	0.00	0.00	0.00	0.00	0.00	2.07	1.87	-4.45	-1.89	-11.25	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: -4%
5 Years:: -23%
3 Years:: -43%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: -45%
3 Years:: -54%
1 Year:: -83%

RETURN ON EQUITY

10 Years:: 5%
5 Years:: -10%
3 Years:: -20%
Last Year:: -42%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	32	32	46	46	46	46	46	46	46	46
	3	13	80	104	117	127	135	114	106	53
	83	85	66	50	58	40	63	74	80	76
Trade Payables	22	25	23	65	69	69	70	59	58	38
	18	17	17	30	20	23	20	10	2	6
Total Liabilities	158	173	233	295	311	306	333	304	292	220
	75	79	90	121	128	126	122	134	129	123
Capital Work in Progress	0	1	13	2	0	7	8	0	0	0
	0	0	0	4	4	6	6	5	5	5
	35	42	33	57	47	44	46	43	40	15
	0	0	0	0	0	0	0	0	53	20
Cash & Bank	5	0	15	0	5	10	9	10	10	0
	43	49	81	111	126	112	144	112	54	58
Total Assets	158	173	233	295	311	306	333	304	292	220

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	17	17	8	41	27	37	-11	9	5	3
Cash from Investing	-10	-10	-28	-27	-11	-4	-1	-9	-0	2
Cash from Financing	-3	-7	38	-26	-3	-24	14	4	-5	-14
	2	-1	15	-15	4	6	-2	1	0	-10

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	1.87	3.08	4.48	5.19	2.87	2.08	1.87	-4.45	-1.89	-11.25
Book Value (₹)	10.88	13.90	27.11	32.28	35.15	37.22	39.07	34.60	32.72	21.47
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	2.73	4.10	5.23	6.28	4.03	3.38	3.18	-3.18	-0.52	-9.89
PROFITABILITY
Operating Margin %	11.87%	11.56%	11.41%	12.06%	8.82%	6.29%	4.93%	-2.95%	0.97%	-34.24%
Net Margin %	3.64%	5.05%	7.36%	5.73%	3.31%	2.00%	1.51%	-4.61%	-2.77%	-53.54%
ROE %	18.83%	24.89%	24.33%	17.46%	8.50%	5.76%	4.90%	-12.09%	-5.61%	-41.52%
ROCE %	15.85%	15.85%	17.18%	22.41%	13.97%	11.06%	9.56%	-7.92%	-0.72%	-19.27%
	4.12%	6.06%	10.28%	9.14%	4.40%	3.14%	2.72%	-6.49%	-2.95%	-20.43%
EFFICIENCY
Debtor Days	72	66	61	62	80	65	56	65	67	137
Inventory Days	76	71	48	39	47	35	29	36	48	102
Payable Days	72	73	56	73	122	92	70	79	96	184
	75	64	53	28	6	7	14	22	19	56
FINANCIAL HEALTH
Debt to Equity (x)	2.22x	1.97x	0.59x	0.38x	0.37x	0.26x	0.36x	0.47x	0.53x	0.76x
Interest Coverage (x)	1.59x	1.74x	2.91x	4.68x	3.04x	2.51x	2.63x	-1.95x	-0.16x	-3.30x
	1.18x	1.08x	1.33x	1.18x	1.20x	1.33x	1.35x	1.09x	0.97x	0.62x
GROWTH
Revenue Growth %	3.67%	16.36%	38.01%	47.85%	-4.00%	21.22%	17.84%	-23.03%	-21.27%	-69.13%
Operating Profit Growth %	2.73%	15.63%	40.78%	57.05%	-29.97%	-14.11%	-7.16%	-146.76%	135.21%	-807.37%
Net Profit Growth %	47.37%	64.70%	107.88%	15.74%	-44.71%	-27.32%	-10.38%	-338.45%	57.59%	-495.69%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	57.59%	-495.69%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.59x	0.49x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	34.13x	-3.78x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	27.06	27.06	25.37	25.37	25.37	25.37	25.37	25.37
	0.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	72.88	72.94	74.63	74.63	74.63	74.63	74.63	74.63

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-02

Corporate Insolvency Resolution Process

2026-09-02 - Astron Paper & Board Mill Limited has informed the Exchange about Corporate Insolvency Resolution Process

2026-09-01

Corporate Insolvency Resolution Process

2026-09-01 - Astron Paper & Board Mill Limited has informed the Exchange about Corporate Insolvency Resolution Process

2026-08-29

Corporate Insolvency Resolution Process

2026-08-29 - Astron Paper & Board Mill Limited has informed the Exchange about Corporate Insolvency Resolution Process

2026-08-20

Corporate Insolvency Resolution Process

2026-08-20 - Astron Paper & Board Mill Limited has informed the Exchange about Corporate Insolvency Resolution Process

2026-07-28

Corporate Insolvency Resolution Process

2026-07-28 - Astron Paper & Board Mill Limited has informed the Exchange about Corporate Insolvency Resolution Process

2026-07-06

Disclosure under SEBI Takeover Regulations

2026-07-06 - Kirit Patel, Karshanbhai Hirabhai Patel, Ramakant Kantibhai Patel, Shreerangam Packaging Pvt. Ltd., Haresh Ambalal Patel, has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-06-23

Clarification - Financial Results

2026-06-23 - The Exchange has sought clarification from Astron Paper & Board Mill Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: -1. The company has not submitted the Statement of Impact of Audit Qualifications in case of modified opinion(s) The response of the Company is awaited.

2026-06-01

Integrated Filing- Financial

2026-06-01 - Results For The Financial Year Ended On 31.03.2026

2026-06-01

Outcome of Board Meeting

2026-06-01 - Astron Paper & Board Mill Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.

News

Recent coverage and analyst commentary for ASTRON

Loading news…

🤖

AI Stock Analyst

Astron Paper & Board Mill Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

Name

JKPAPER

410.30

22.94

7439.51

0.97

136.27

59.49

1887.17

12.72

7.80

15.39

WSTCSTPAPR

656.60

18.88

4336.77

0.46

141.84

135.37

1051.26

10.12

7.11

19.34

SESHAPAPER

235.30

14.99

1483.99

0.85

31.91

106.80

492.08

27.68

5.60

8.85

ANDHRAPAP

63.37

45.62

1260.11

0.79

303.16

1322.95

3937.71

900.89

1.99

12.39

TNPL

154.45

4.10

1068.96

2.59

57.40

874.63

11466.40

903.98

5.85

10.02

PDMJEPAPER

94.76

9.88

899.75

0.63

33.72

-6.95

202.92

3.29

20.10

17.53

NRAIL

498.20

13.65

847.89

0.40

34.98

111.33

646.96

43.09

8.25

11.48

KUANTUM

75.97

18.35

662.94

3.29

6.23

-48.34

303.75

36.87

5.24

13.20

SATIA

60.94

0.00

609.40

0.66

-171.20

-641.72

3618.15

875.45

10.53

14.04

RAMANEWS

33.09

0.00

488.15

0.00

-10.50

-29.46

9.72

6.02

1.87

-7.68

BBTCL

227.15

14.00

465.91

0.00

14.39

727.77

180.47

18.53

3.03

18.69

ASTRON

3.09

0.00

14.37

0.00

-6.11

46.06

0.07

-92.05

-20.23

-3185.71

Mar 2023

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Operating Profit

-4

-9

-7

-15

-2

-0

-1

-2

OPM %

2.06%

2.91%

2.88%

3.55%

-5.31%

-15.43%

-20.47%

-1112.50%

-234.09%

-13.28%

—

71.03%

-2714.29%

Interest

Depreciation

Profit before Tax

-2

-1

-8

-13

-12

-20

-7

-5

-4

-6

Tax %

25.49%

23.53%

31.91%

28.47%

37.25%

29.28%

23.97%

-33.64%

-15.36%

-0.00%

Net Profit

-2

-1

-5

-9

-26

-8

-5

-4

-6

-0.32

-0.25

-0.20

-0.21

-1.07

-1.91

-1.99

-5.63

-1.73

-1.07

-0.97

-0.96

-1.19

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

157

183

253

374

359

435

513

395

311

138

166

221

324

325

408

486

410

308

129

Operating Profit

-15

-33

-2

OPM %

12.38%

9.54%

12.47%

13.40%

9.48%

6.29%

5.20%

-3.78%

0.98%

-34.87%

-67.50%

Interest

Depreciation

Profit before Tax

-29

-12

-51

-19

Tax %

4.26%

-19.78%

-10.16%

32.85%

34.06%

34.27%

37.04%

28.68%

28.23%

-2.07%

-0.00%

Net Profit

-21

-9

-52

-19

EPS

0.00

2.07

1.87

-4.45

-1.89

-11.25

—

Dividend Payout %

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

104

117

127

135

114

106

Trade Payables

Total Liabilities

158

173

233

295

311

306

333

304

292

220

121

128

126

122

134

129

123

Capital Work in Progress

Cash & Bank

111

126

112

144

112

Total Assets

158

173

233

295

311

306

333

304

292

220

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-11

Cash from Investing

-10

-28

-27

-11

-4

-1

-9

-0

Cash from Financing

-3

-7

-26

-3

-24

-5

-14

-1

-15

-2

-10

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

1.87

3.08

4.48

5.19

2.87

2.08

1.87

-4.45

-1.89

-11.25

Book Value (₹)

10.88

13.90

27.11

32.28

35.15

37.22

39.07

34.60

32.72

21.47

Dividend per Share (₹)

0.00

Cash EPS (₹)

2.73

4.10

5.23

6.28

4.03

3.38

3.18

-3.18

-0.52

-9.89

PROFITABILITY

Operating Margin %

11.87%

11.56%

11.41%

12.06%

8.82%

6.29%

4.93%

-2.95%

0.97%

-34.24%

Net Margin %

3.64%

5.05%

7.36%

5.73%

3.31%

2.00%

1.51%

-4.61%

-2.77%

-53.54%

ROE %

18.83%

24.89%

24.33%

17.46%

8.50%

5.76%

4.90%

-12.09%

-5.61%

-41.52%

ROCE %

15.85%

17.18%

22.41%

13.97%

11.06%

9.56%

-7.92%

-0.72%

-19.27%

4.12%

6.06%

10.28%

9.14%

4.40%

3.14%

2.72%

-6.49%

-2.95%

-20.43%

EFFICIENCY

Debtor Days

137

Inventory Days

102

Payable Days

122

184

FINANCIAL HEALTH

Debt to Equity (x)

2.22x

1.97x

0.59x

0.38x

0.37x

0.26x

0.36x

0.47x

0.53x

0.76x

Interest Coverage (x)

1.59x

1.74x

2.91x

4.68x

3.04x

2.51x

2.63x

-1.95x

-0.16x

-3.30x

1.18x

1.08x

1.33x

1.18x

1.20x

1.33x

1.35x

1.09x

0.97x

0.62x

GROWTH

Revenue Growth %

3.67%

16.36%

38.01%

47.85%

-4.00%

21.22%

17.84%

-23.03%

-21.27%

-69.13%

Operating Profit Growth %

2.73%

15.63%

40.78%

57.05%

-29.97%

-14.11%

-7.16%

-146.76%

135.21%

-807.37%

Net Profit Growth %

47.37%

64.70%

107.88%

15.74%

-44.71%

-27.32%

-10.38%

-338.45%

57.59%

-495.69%

0.00%

57.59%

-495.69%

VALUATION

P/E (x)

0.00x

P/B (x)

0.00x

0.59x

0.49x

Dividend Yield %

0.00%

0.00x

34.13x

-3.78x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

27.06

25.37

0.06

0.00

DIIs

0.00

Government

0.00

72.88

72.94

74.63

Astron Paper & Board Mill Ltd.

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Astron Paper & Board Mill Ltd.

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI