Astron Paper & Board Mill Limited (ASTRON)

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Astron Paper & Board Mill Limited (ASTRON) · mywealthgrid

About

Astron Paper & Board Mill Limited operates in Paper & Paper Products within the Materials sector.

Face value: ₹10

Market cap

₹13 Cr

P/E

—

P/B

0.2×

Dividend yield

ROE

-26.6%

ROCE

-9.7%

Debt / equity

1.13

OPM

-88.9%

EPS (TTM)

₹-9.5

Book value

₹14.6

52-week high

—

52-week low

—

2,158 historical price candles were omitted because the exchange source has not been verified.

₹2.8-4.1%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of -27.1% (3-yr avg)
−Revenue shrank over the last 5 years (-63.6% a year)
−Weak interest coverage of -0.8×
−Low promoter holding of 25.4%

Research score

Structured signal from quality, growth, valuation and momentum.

36/100

Business quality: 9
Growth: 0
Valuation: 100

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	359	435	513	395	311	96	3
COGS	206	279	364	297	222	95	2
Gross profit	153	156	149	97	89	1	0
	117	125	121	115	87	34	3
	36	32	28	-18	2	-34	-2
OPM %	10%	7.3%	5.4%	-4.4%	0.7%	-35.1%	-88.9%
Depreciation	6	7	7	7	7	7	7
Interest	11	11	10	11	11	12	12
	1	2	1	1	1	0	0
Profit before tax	20	16	12	-35	-16	-53	-21
Tax	6	5	4	-11	-4	4	0
Tax %	32.2%	34%	33.6%	-30.7%	-28.3%	7.7%	0%
	13	10	8	-24	-11	-57	-21
PAT margin %	3.7%	2.4%	1.6%	-6.1%	-3.6%	-58.9%	-759.1%
EPS (₹)	2.9	2.2	1.8	-5.1	-2.4	-24.4	-4.6
EPS adjusted (₹)	2.9	2.2	1.8	-5.2	-2.4	-12.2	-4.6
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	47	47	47	47	47	47	47
Reserves	—	129	137	113	102	45	22
	—	50	71	84	83	77	77
	—	98	96	68	63	49	58
Total equity & liabilities	—	323	350	312	294	217	203
	151	149	144	155	150	142	135
CWIP	—	7	8	0	0	0	0
Investments	—	2	2	2	1	1	1
	—	166	197	155	143	74	67
Total assets	—	323	350	312	294	217	203

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	42.5%	35.9%	29%	24.7%	28.7%	0.8%	15.4%
EBITDA margin %	10%	7.3%	5.4%	-4.4%	0.7%	-35.1%	-88.9%
EBIT margin %	8.3%	5.7%	4.1%	-6.2%	-1.7%	-42.6%	-345.2%
PAT margin %	3.7%	2.4%	1.6%	-6.1%	-3.6%	-58.9%	-759.1%
Working capital
Receivable days	—	67	70	60	64	83	2,801
Inventory days	—	61	50	58	72	69	2,451
Payable days	—	92	75	76	100	156	5,388
NWC days	—	36	45	42	35	-4	-136
Leverage
Current ratio	—	1.32	1.33	1.03	0.96	0.68	0.58
Debt to EBITDA	—	1.57	2.53	—	39.64	—	—
Debt to equity	—	0.28	0.38	0.53	0.56	0.84	1.13
Interest coverage	2.7	2.4	2.3	-2.2	-0.4	-3.3	-0.8
Asset turnover	—	1.35	1.46	1.27	1.06	0.44	0.01
Return ratios
Return on assets %	—	3.2%	2.4%	-7.7%	-3.8%	-26.1%	-10.4%
Return on capital employed %	—	13.5%	11%	-12.9%	-2.8%	-31.1%	-9.7%
Return on equity %	—	5.8%	4.5%	-15%	-7.6%	-62.1%	-31.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	27.06%	27.06%	27.06%	27.06%	27.06%	27.06%	25.37%	25.37%	25.37%	25.37%	25.37%	25.37%
FII	0%	0%	0%	0%	0.06%	0%	0%	0%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	72.94%	72.94%	72.94%	72.94%	72.88%	72.94%	74.63%	74.63%	74.63%	74.63%	74.63%	74.63%
No. of shareholders	—	—	—	—	—	—	—	—	—	21,215	21,327	21,441

Promoter holding down 1.69 percentage points since Jun 2023.

42 deals · 2 Aug 2021 – 28 Aug 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
28 Aug 2025	VISHNU JAJOO HUF	Bulk	NSE	Sell	2,50,000	₹11.60	₹0.29 Cr
19 Nov 2024	RENUKADAS MUKUND DHOND	Bulk	NSE	Sell	4,82,217	₹19.78	₹0.95 Cr
19 Nov 2024	RENUKADAS MUKUND DHOND	Bulk	NSE	Buy	19,325	₹20.71	₹0.04 Cr
13 Nov 2024	KIRIT GHANSHYAMBHAI PATEL	Bulk	BSE	Sell	3,00,000	₹23.52	₹0.71 Cr
12 Nov 2024	RENUKADAS MUKUND DHOND	Bulk	BSE	Buy	2,69,340	₹22.33	₹0.60 Cr
2 Apr 2024	SUDHIR S MEHTA HUF	Bulk	NSE	Sell	2,69,250	₹21.10	₹0.57 Cr
27 Mar 2024	NAKSHATRA CORPORATE ADVISORS LIMITED	Bulk	NSE	Sell	2,36,000	₹19.50	₹0.46 Cr
21 Mar 2024	DWARKESH FINANCE LIMITED	Bulk	NSE	Sell	4,97,500	₹20.84	₹1.04 Cr
9 Nov 2023	SAMIKSHA BANGUR	Bulk	NSE	Sell	20,87,579	₹28.85	₹6.02 Cr
9 Nov 2023	DWARKESH FINANCE LIMITED	Bulk	NSE	Buy	20,87,000	₹28.85	₹6.02 Cr

1–10 of 42

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Mr. KIRITBHAI GHANSHYAMBHAI PATELExecutive Director-Chairperson-MD
Mr. RAMAKANT KANTIBHAI PATELExecutive Director
Mr. KARSHANBHAI HIRABHAI PATELNon-Executive - Non Independent Director
Ms. JANKIBEN VIMALKUMAR PATELNon-Executive - Independent Director
Mr. Swapnil J. MadiyarChief Financial Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Astron Paper & Board Mill Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

No events on record

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

11 announcementsExport CSV

22 Sept 2026, 5:37 pmCompany Update