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    Consumer Cyclical

  3. •

    Packaging & Containers
Astron Paper & Board Mill Limited

Astron Paper & Board Mill Limited

ASTRON.NS
Astron Paper & Board Mill LimitedIN flagNational Stock Exchange of India
3.78
INR
-0.02
- -
175.77MMarket Cap
Astron Paper & Board Mill Limited
ASTRON.NS
(National Stock Exchange of India)

Recent

price

3.78

P/E

ratio

- -

div

yld

- -

ROIC.AI

2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
5.72
22.76
32.67
33.87
39.43
70.05
80.34
77.02
93.27
107.87
84.85
66.83
20.7
0.6
0.6
Revenue per Share
-0.89
-0.65
0.89
1.31
2.16
5.77
5.94
2.85
2.2
1.74
-5.15
-2.41
-12.2
-4.56
-4.55
Basic EPS, GAAP
-9.18
-2.33
1.84
1.09
1.51
-5.97
3.59
2.07
5.06
-2.93
0.12
2.14
0.85
3.07
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
4.87
5.09
6.3
7.6
9.75
12.88
10
10
27.9
29.63
24.35
21.95
9.75
10.01
9.99
Book Value per Share
4.87
5.08
6.28
7.59
9.71
34.89
32.66
35.57
37.73
39.47
34.21
31.82
19.63
14.65
14.62
Tangible Book Value per Share
46
46
46
46
46
36
46
46
46
46
46
46
46
46
47
Basic Weighted Avg Shares
266
1,058
1,519
1,575
1,833
2,529
3,736
3,581
4,337
5,016
3,946
3,108
962
28
28
Sales/Revenue/Turnover
3.61
9.17
11.66
11.27
8.3
11.81
13.08
8.56
5.86
4.46
-5.55
-1.51
-42.56
-344.73
-344.73
Operating Margin (%)
10
32
27
28
33
35
54
62
69
70
68
73
72
72
72
Depreciation Expense
-41
-30
41
61
100
208
276
132
102
81
-239
-112
-567
-212
-212
Net Income, GAAP
- -
- -
30.81
4.28
19.78
- -
27.72
32.52
34.12
34
- -
- -
- -
- -
- -
Effective Tax Rate (%)
-15.6
-2.85
2.72
3.86
5.47
8.24
7.39
3.7
2.36
1.62
-6.07
-3.61
-58.93
-758.43
-758.43
Profit Margin (%)
109
56
89
127
63
291
214
268
400
485
50
-52
-345
-478
-478
Working Capital
446
370
323
332
385
162
182
151
135
82
29
24
178
193
193
LT Debt
227
236
293
354
452
1,261
1,520
1,655
1,757
1,837
1,592
1,480
913
681
681
Total Equity
- -
- -
12.24
15.58
9.69
- -
16.14
8.7
7
5.94
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
11.1
14.07
14.38
- -
28.71
16.61
10.53
6.5
- -
- -
- -
- -
- -
Return on Capital (%)
- -
-13.05
15.6
18.83
24.84
45.38
59.36
28.46
11.59
6.06
-19.08
-10.41
-76.96
-46.14
-46.14
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
579
- -
576
LT Borrowings
187
- -
193
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
46
- -
46
Market Capitalization
612
283
157

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
669
- -
672
Cash, Cash Equivalents & STI
2
- -
1
Accounts Receivable, Net
214
- -
214
Inventories
163
- -
159
Total Current Liabilities
1,067
- -
1,150
Payables & Accruals
- -
- -
- -
ST Debt
579
- -
576
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
16.29%
-15.9%
-25.43%
Free Cash Flow
122.82%
334.64%
259.44%
Net Income, GAAP
0.45%
-25.14%
-62.65%
Sales/Revenue/Turnover
-7.4%
-38.61%
-97.1%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
784
807
733
784
3,108
2025
584
355
14
9
962
2026
13
- -
14
1
28

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.41
-0.35
-0.33
- -
-2.41
2025
-2.05
-1.7
-6.01
-2.45
-12.2
2026
-1.13
-1.02
-1.09
-1.31
-4.56

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Gujarat Craft Industries Limited (GUJCRAFT.BO)
Business
Astron Paper & Board Mill Limited manufactures recycled kraft paper and related products for the packaging industry in India. Incorporated in 2010 and headquartered in Ahmedabad, Gujarat, the company produces fluting medium paper (80 to 180 GSM, 16 to 20 BF), test liner paper, kraft liner (140 to 350 GSM, 28 to 35 BF), virgin top liner (VTL), high-RCT kraft liner, and liner papers from wastepaper; it also provides custom product development and technical support services. Astron Paper operates three manufacturing units with four paper machines at strategic locations in Gujarat, including Halvad, Bhuj, and Mehsana, achieving an annual capacity of approximately 175,000 tonnes, and serves customers across India while exporting to the Middle East, Iran, Sri Lanka, Bangladesh, African countries, and Southeast Asia through dealers and direct sales. The ISO 9001:2015 and ISO 14001:2015 certified company, listed on BSE and NSE since its 2017 IPO, wholly owns Balaram Papers Private Limited, acquired in 2018. Recent developments include operations suspension since September 2024 due to financial constraints, plant shutdowns resulting in zero revenue and a net loss of INR 475.43 million for the quarter ended September 30, 2025, insolvency proceedings under the Insolvency and Bankruptcy Code with NCLT petitions pending, SARFAESI Act enforcement by a bank consortium (Union Bank of India, Axis Bank, ICICI Bank, others) leading to symbolic possession of key assets and a September 2025 notice for properties totaling 160,015 square meters in Sukhpar village, resignations of independent directors including Dhiren N. Parikh in November 2024, board approval in December 2024 for authorized capital increase and sale of non-core assets including land, building, and plant machinery of subsidiary Balaram Papers, and board authorization to sell additional non-core assets amid auditor concerns over going concern status.