Astron Paper & Board Mill
ASTRON NSE
Astron Paper & Board Mill
Forest MaterialsNSE: ASTRON BSE: 540824 Paper & Paper Products
Key Fundamentals
MicrocapPaper & Paper ProductsForest MaterialsMarket Cap
₹13.95 Cr
Volatility
Moderate
P/E Ratio
-0.7
EBITDA
₹-2.48 Cr
Return on Equity
-62.1%
Debt to Equity
0.94
Book Value
₹14.65
52W High
₹17.5
52W Low
₹2.87
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Stock is trading at 0.17 times its book value
Weaknesses
6- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -63.6% over past five years.
- Promoter holding is low: 25.4%
- Company has a low return on equity of -21.7% over last 3 years.
- Contingent liabilities of Rs.143 Cr.
- Company has high debtors of 2,605 days.
Growth Rate
Revenue Growth
-97.11% lower than
3Y
Net Income Growth
-62.65% lower than
3Y
Cash Flow Change
-66.64% lower than
3Y
ROE
720% higher than
3Y
ROCE
—
EBITDA Margin (Avg.)
158%
Quarterly Results
| Particulars | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 91.54 | 78.38 | 80.67 | 73.33 | 78.4 | 58.15 | 35.56 | 1.36 | 0.88 | 1.28 | 0 | 1.45 | 0.07 |
| Expenses | 89.64 | 76.1 | 78.35 | 70.72 | 82.55 | 67.12 | 42.85 | 16.5 | 2.94 | 1.45 | 0.84 | 0.42 | 1.97 |
| Operating Profit | 1.9 | 2.28 | 2.32 | 2.61 | -4.15 | -8.97 | -7.29 | -15.14 | -2.06 | -0.17 | -0.84 | 1.03 | -1.9 |
| OPM % | 2.08% | 2.91% | 2.88% | 3.56% | -5.29% | -15.43% | -20.5% | -1113.24% | -234.09% | -13.28% | — | 71.03% | -2714.29% |
| Other Income | 0.49 | 0.3 | 0.45 | 0.29 | 0.57 | 0.71 | 0.12 | 0 | 0.09 | 0 | 0 | 0 | 0 |
| Interest | 2.91 | 2.44 | 2.62 | 2.69 | 2.79 | 2.63 | 3.44 | 2.9 | 3.41 | 3.13 | 2.1 | 3.94 | 2.15 |
| Depreciation | 1.51 | 1.67 | 1.56 | 1.58 | 1.56 | 1.68 | 1.56 | 1.56 | 1.52 | 1.66 | 1.54 | 1.54 | 1.5 |
| PBT | -2.03 | -1.53 | -1.41 | -1.37 | -7.93 | -12.57 | -12.17 | -19.6 | -6.9 | -4.96 | -4.48 | -4.45 | -5.55 |
| Tax % | -25.62% | -22.88% | -31.91% | -28.47% | -37.2% | -29.28% | -23.99% | 33.62% | 15.36% | 0% | 0% | 0% | 0% |
| Net Profit | -1.52 | -1.17 | -0.96 | -0.98 | -4.98 | -8.9 | -9.26 | -26.19 | -7.96 | -4.96 | -4.49 | -4.46 | -5.55 |
| EPS in Rs | -0.33 | -0.25 | -0.21 | -0.21 | -1.07 | -1.91 | -1.99 | -5.63 | -1.71 | -1.07 | -0.97 | -0.96 | -1.19 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 152 | 157 | 182 | 251 | 373 | 358 | 435 | 512 | 395 | 311 | 96 | 3 |
| Expenses | 133 | 137 | 161 | 219 | 323 | 324 | 407 | 485 | 410 | 308 | 129 | 5 |
| Operating Profit | 19 | 20 | 22 | 32 | 50 | 34 | 28 | 27 | -15 | 3 | -33 | -2 |
| OPM % | 13% | 12% | 12% | 13% | 13% | 10% | 6% | 5% | -3.8% | 1% | -35% | -68% |
| Other Income | 0 | 0 | 1 | 1 | 1 | 1 | 3 | 1 | 2 | 2 | 0 | 0 |
| Interest | 11 | 11 | 11 | 10 | 10 | 10 | 10 | 8 | 10 | 11 | 12 | 11 |
| Depreciation | 3 | 3 | 3 | 4 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 6 |
| PBT | 6 | 6 | 8 | 19 | 36 | 20 | 15 | 14 | -29 | -12 | -51 | -19 |
| Tax % | 31% | 4% | -20% | -10% | 33% | 34% | 34% | 37% | -29% | -28% | 2% | 0% |
| Net Profit | 4 | 6 | 10 | 21 | 24 | 13 | 10 | 9 | -21 | -9 | -52 | -19 |
| EPS in Rs | 1.27 | 1.87 | 3.08 | 4.48 | 5.18 | 2.87 | 2.08 | 1.87 | -4.45 | -1.89 | -11.25 | -4.18 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 32 | 32 | 32 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 |
| Reserves | -3 | 3 | 13 | 80 | 104 | 117 | 127 | 135 | 114 | 106 | 53 | 34 |
| Borrowings | 72 | 78 | 89 | 75 | 57 | 61 | 45 | 66 | 76 | 80 | 76 | 75 |
| Other Liabilities | 36 | 45 | 38 | 31 | 87 | 86 | 87 | 85 | 67 | 61 | 44 | 52 |
| Total Liabilities | 137 | 158 | 173 | 232 | 294 | 310 | 305 | 332 | 304 | 293 | 220 | 207 |
| Fixed Assets | 66 | 75 | 79 | 90 | 121 | 129 | 126 | 122 | 134 | 129 | 123 | 116 |
| CWIP | 1 | 0 | 1 | 13 | 2 | 0 | 7 | 8 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 4 | 4 | 6 | 6 | 5 | 5 | 5 | 5 |
| Other Assets | 70 | 84 | 92 | 128 | 167 | 177 | 166 | 197 | 165 | 158 | 93 | 86 |
| Total Assets | 137 | 158 | 173 | 232 | 294 | 310 | 305 | 332 | 304 | 293 | 220 | 207 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 11 | 16 | 16 | 5 | 37 | 19 | 33 | -14 | 7 | 5 | 3 | 12 |
| Investing | -2 | -10 | -10 | -28 | -27 | -11 | -4 | -1 | -9 | 0 | 2 | 0 |
| Financing | -8 | -3 | -7 | 38 | -26 | -3 | -24 | 14 | 4 | -5 | -14 | -12 |
| Net Cash Flow | 1 | 2 | -1 | 15 | -15 | 4 | 6 | -2 | 1 | 0 | -10 | 0 |
| Free Cash Flow | 9 | 5 | 7 | -22 | 13 | 8 | 22 | -17 | -4 | 3 | 3 | 12 |
| CFO/OP | 56 | 86 | 80 | 26 | 81 | 80 | 133 | -41 | -59 | 173 | -9 | -631 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 69 | 86 | 70 | 86 | 82 | 95 | 66 | 69 | 59 | 62 | 78 | 2,605 |
| Inventory Days | 129 | 129 | 132 | 75 | 94 | 86 | 59 | 47 | 53 | 66 | 56 | 1,921 |
| Days Payable | 20 | 27 | 79 | 53 | 107 | 125 | 92 | 71 | 73 | 96 | 145 | 5,030 |
| Cash Conversion Cycle | 178 | 188 | 123 | 108 | 68 | 55 | 33 | 45 | 39 | 33 | -11 | -504 |
| Working Capital Days | 12 | 17 | 12 | 20 | 23 | 23 | 24 | 28 | 3 | -16 | -150 | -6,766 |
| ROCE % | 17% | 16% | 16% | 17% | 22% | 14% | 11% | 10% | -8% | -1% | -19% | -5% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Astron Paper & Board Mill insights
55 extracted metrics + investor summaries across FY14–FY26.
Documents
1
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
16 Apr - Certificate u/r 74(5) of SEBI DP Regulations, 2018 for 31st March, 2026 16 Apr - Certificate u/r 74(5) of SEBI DP Regulations, 2018 for 31st March, 2026
2
Announcement under Regulation 30 (LODR)-Resignation of Director
31 Mar - Independent Director Sudhir Maheshwari resigned effective close of business 25-Mar-2026; Audit Committee chair role vacated. 31 Mar - Independent Director Sudhir Maheshwari resigned effective close of business 25-Mar-2026; Audit Committee chair role vacated.
5
Shareholder Meeting / Postal Ballot-Outcome of EGM
19 Mar - EGM on 19-Mar-2026: considered auditor appointment to fill casual vacancy and Jankiben Patel's independent-director regularisation; voting pending. 19 Mar - EGM on 19-Mar-2026: considered auditor appointment to fill casual vacancy and Jankiben Patel's independent-director regularisation; voting pending.
1
Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP) 2 Sept 2026
General_Announcements
3
Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors 29 Aug 2026
General_Announcements
Frequently Asked Questions about Astron Paper & Board Mill
What does Astron Paper & Board Mill Ltd do?
Incorporated in 2010, Astron Paper & Board Mill Ltd manufactures Kraft Paper from waste paper[1]
Where is Astron Paper & Board Mill Ltd (ASTRON) listed?
Astron Paper & Board Mill Ltd trades as ASTRON on the NSE and under code 540824 on the BSE.
Which sector does Astron Paper & Board Mill Ltd belong to?
Astron Paper & Board Mill Ltd is classified under the Forest Materials sector, in the Paper & Paper Products industry.
What is the market capitalisation of Astron Paper & Board Mill Ltd?
Astron Paper & Board Mill Ltd has a market capitalisation of ₹13.95 Cr, which places it in the Small Cap band.
What is the PE ratio of Astron Paper & Board Mill Ltd?
Astron Paper & Board Mill Ltd trades at a PE ratio of -0.70, against a book value of ₹14.65 per share.
What is the 52-week high and low of Astron Paper & Board Mill Ltd?
Over the last 52 weeks Astron Paper & Board Mill Ltd has traded between ₹2.87 and ₹17.5.
What is the Return on Equity (ROE) of Astron Paper & Board Mill Ltd?
Astron Paper & Board Mill Ltd reported a return on equity of -62.10%. Its debt-to-equity ratio is 0.94.
Company Information
Incorporated in 2010, Astron Paper & Board Mill Ltd manufactures Kraft Paper from waste paper[1]
Website astronpaper.com
CEO Mr. Kiritbhai Ghanshyambhai Patel
Employees 32
Listed 2017-12-29
Face Value ₹ 10
Issued Size 4,65,00,000
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