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.

Screen this industry Compare top 5 side-by-side

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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

1 / 5

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

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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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

Corporate actions, results dates and filings will appear here once ingested.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

11 announcementsExport CSV

1 Sept 2026, 4:42 pmCompany Update

Corporate Insolvency Resolution Process (CIRP)-Invitation of Resolution Plan

Invitation of Resolution Plan PDF

29 Aug 2026, 5:47 pmCompany Update

Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors

Outcome of meeting of Committee of Creditors PDF

28 Jul 2026, 5:24 pmCompany Update

Corporate Insolvency Resolution Process (CIRP)-Invitation of Resolution Plan

Invitation of Resolution Plan PDF

Date	Category	Subject	Filing
1 Sept 2026, 4:42 pm	Company Update Invitation of Resolution Plan	Corporate Insolvency Resolution Process (CIRP)-Invitation of Resolution Plan	PDF
29 Aug 2026, 5:47 pm	Company Update Outcome of meeting of Committee of Creditors	Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors

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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%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jk Paper LimitedJKPAPERJKPAPER	₹6,937 Cr	₹9,373 Cr	₹7,365 Cr	₹968 Cr	13.1%	₹324 Cr	3.9%	7.4%	4.9%	69
West Coast Paper Mills LimitedWSTCSTPAPRWSTCSTPAPR	₹4,802 Cr	₹5,116 Cr	₹4,389 Cr	₹505 Cr	9.7%	₹237 Cr	3.6%	6%	4.4%	106
Seshasayee Paper And Boards LimitedSESHAPAPERSESHAPAPER	₹1,491 Cr	₹1,491 Cr	₹1,817 Cr	₹119 Cr	5.6%	₹99 Cr	4.8%	4.6%	4.1%	79
Andhra Paper LimitedANDHRAPAPANDHRAPAP	₹1,419 Cr	₹1,652 Cr	₹1,702 Cr	₹82 Cr	4%	₹28 Cr	1.1%	2%	1%	68
N R Agarwal Industries LimitedNRAILNRAIL	₹1,121 Cr	₹1,910 Cr	₹2,340 Cr	₹232 Cr	8.1%	₹62 Cr	2%	8.8%	5.5%	44
Tamil Nadu Newsprint & Papers LimitedTNPLTNPL	₹1,022 Cr	₹2,620 Cr	₹4,649 Cr	₹494 Cr	10.4%	₹261 Cr	5.3%	7%	11.3%	-31
Pudumjee Paper Products LimitedPDMJEPAPERPDMJEPAPER	₹907 Cr	₹930 Cr	₹814 Cr	₹125 Cr	15.3%	₹91 Cr	11.6%	17.8%	14.9%	91
Emami Paper Mills LimitedEMAMIPAPEMAMIPAP	₹707 Cr	₹1,524 Cr	₹2,008 Cr	₹241 Cr	10.3%	₹94 Cr	3.2%	14%	9.8%	107
Satia Industries LimitedSATIASATIA	₹683 Cr	₹982 Cr	₹1,443 Cr	₹119 Cr	9.1%	₹-8 Cr	2.8%	4.6%	3.8%	110
Kuantum Papers LimitedKUANTUMKUANTUM	₹670 Cr	₹1,530 Cr	₹1,174 Cr	₹162 Cr	14.8%	₹36 Cr	3.8%	5.4%	3.4%	77
Shree Rama Newsprint LimitedRAMANEWSRAMANEWS	₹433 Cr	₹810 Cr	₹33 Cr	₹-2 Cr	0.7%	₹-69 Cr	-209.4%	0.8%	—	-50
Orient Paper & Industries LimitedORIENTPPRORIENTPPR	₹344 Cr	₹631 Cr	₹895 Cr	₹-32 Cr	-4.2%	₹-71 Cr	-3.2%	-4.2%	-1.9%	32

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	35	-10	11	12	4	14
	-5	-3	-10	-1	2	0
	-24	11	-0	-11	-16	-14
Net cash flow	6	-2	1	0	-10	-0
Free cash flow	24	-14	1	10	4	14
CFO / Operating profit %	109.5%	-35.5%	—	569.4%	—	—

Astron Paper & Board Mill Limited

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

No events on record

Announcements

No events on record

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Compounded sales growth

Return on equity

Astron Paper & Board Mill Limited

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

No events on record

Announcements

No events on record

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity