Astron Paper & Board Mill Ltd. (ASTRON) AI Stock Analysis

• Market Cap: ₹674.25M
• Dividend Yield: N/A
• Average Volume (3M): 3.33K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.67
• Revenue Growth: -69.04%
• EPS Growth: -408.28%
• Country: IN
• Employees: 411
• Sector: Basic Materials
• Sector Strength: 60
• Industry: Paper, Lumber & Forest Products
• EPS (TTM): -2.45
• Shares Outstanding: 46,500,000
• 10 Day Avg. Volume: 2,482
• 30 Day Avg. Volume: 3,332
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹14.00
• Price Target Upside: 0.65% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 45 Neutral
• Price Target: ₹14.00 ▲(0.65% Upside)

The overall stock score reflects significant financial challenges and weak market momentum. The company's declining revenue, consistent losses, and increased leverage are primary concerns. Technical indicators further highlight bearish trends, and valuation metrics suggest profitability issues.

Astron Paper & Board Mill Ltd. Business Overview & Revenue Model

Company Description

Astron Paper & Board Mill Ltd. (ASTRON) is a prominent player in the paper and packaging industry, primarily engaged in the manufacturing of kraft paper. The company operates within the industrial sector, providing eco-friendly paper solutions for packaging applications. With a focus on sustainability, ASTRON converts recycled waste paper into high-quality kraft paper products, serving various industries including packaging, printing, and logistics.

How the Company Makes Money

Astron Paper & Board Mill Ltd. generates revenue primarily through the production and sale of kraft paper. The company's key revenue streams include sales to packaging companies, distributors, and various industrial clients who utilize kraft paper for corrugated boxes and packaging materials. ASTRON leverages its manufacturing facilities to produce different grades of kraft paper, catering to diverse customer needs. Additionally, the company benefits from strategic partnerships and long-term contracts with major clients, ensuring a steady flow of income. By focusing on sustainable practices and utilizing recycled materials, ASTRON gains a competitive edge and meets the growing demand for environmentally friendly packaging solutions.

Astron Paper & Board Mill Ltd. Financial Statement Overview

Summary

Astron Paper & Board Mill Ltd. faces significant challenges in maintaining revenue and profitability, with consistent losses affecting its financial health. The balance sheet shows increasing leverage, which could strain future operations. While there are signs of improvement in cash flow management, the company must address its operational inefficiencies and stabilize its financial performance to ensure long-term sustainability.

Income Statement

The company has experienced significant revenue decline over the years, with a substantial reduction from 2021 to 2025. Gross profit margins have been weak, and net income has been in the negative for the past four years, indicating ongoing profitability issues. The negative EBIT and EBITDA margins highlight operational struggles.

Balance Sheet

The debt-to-equity ratio has increased over the years, suggesting rising leverage, which poses financial risk. The equity ratio is relatively stable, but the declining stockholders' equity indicates potential vulnerability. The shrinking asset base since 2022 reflects potential asset divestment or impairment.

Cash Flow

The company shows improvements in free cash flow from 2024 to 2025, indicating better cash management. However, the operating cash flow has been inconsistent, with years of negative figures, which raises concerns about sustainability. The free cash flow to net income ratio has been positive recently, suggesting efficient cash conversion.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	962.28M	3.11B	3.95B	5.02B	4.34B
Gross Profit	7.46M	225.52M	81.47M	463.00M	662.00M
EBITDA	-332.60M	28.87M	-167.66M	267.86M	336.90M
Net Income	-567.10M	-112.07M	-239.47M	81.11M	102.14M
Balance Sheet
Total Assets	2.17B	2.94B	3.12B	3.50B	3.23B
Cash, Cash Equivalents and Short-Term Investments	2.79M	103.39M	102.30M	89.31M	4.91M
Total Debt	779.87M	828.53M	844.37M	764.63M	577.17M
Total Liabilities	1.26B	1.46B	1.53B	1.67B	1.47B
Stockholders Equity	913.20M	1.48B	1.59B	1.84B	1.76B
Cash Flow
Free Cash Flow	39.63M	99.46M	5.42M	-136.01M	235.31M
Operating Cash Flow	39.71M	118.97M	111.49M	-99.07M	348.52M
Investing Cash Flow	15.99M	-10.71M	-96.35M	-30.77M	-50.04M
Financing Cash Flow	-156.29M	-107.17M	-2.16M	112.59M	-242.70M

Astron Paper & Board Mill Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 13.91
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASTRON, the sentiment is Negative. The current price of 13.91 is below the 20-day moving average (MA) of 15.02, below the 50-day MA of 16.47, and below the 200-day MA of 17.15, indicating a bearish trend. The MACD of -0.67 indicates Positive momentum. The RSI at 33.92 is Neutral, neither overbought nor oversold. The STOCH value of 10.74 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ASTRON.

Astron Paper & Board Mill Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RUCHIRA	81 Outperform	₹4.06B	5.84		3.71%	1.65%	64.75%
STARPAPER	74 Outperform	₹2.62B	6.37		2.38%	-1.83%	-35.72%
NRAIL	67 Neutral	₹6.30B	35.68		0.54%	28.30%	-85.94%
EMAMIPAP	60 Neutral	₹5.51B	30.06		1.77%	-1.78%	-79.35%
ASTRON	45 Neutral	₹674.25M	―		―	-69.04%	-408.28%
Sector *	44 Neutral	C$923.76M	-8.68	-0.23%	2.69%	24.53%	-41.45%