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

• Market Cap: ₹286.91M
• Dividend Yield: N/A
• Average Volume (3M): 15.72K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.46
• Revenue Growth: -98.56%
• EPS Growth: -96.41%
• Country: IN
• Employees: 411
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Paper, Lumber & Forest Products
• EPS (TTM): -1.02
• Shares Outstanding: 46,500,000
• 10 Day Avg. Volume: 20,046
• 30 Day Avg. Volume: 15,720
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.56
• Price to Sales (P/S): 0.53
• P/FCF Ratio: 12.84
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: ₹6.50 ▲(5.35% Upside)

The overall stock score of 44 reflects significant financial and technical challenges. The company's financial performance is weak, with ongoing losses and increasing leverage. Technical indicators suggest a strong bearish trend, and valuation metrics are unattractive due to negative earnings and lack of dividends. These factors collectively indicate a high-risk investment with limited upside potential in the near term.

Positive Factors

Sustainability Focus

Astron's emphasis on sustainable practices and eco-friendly products aligns with growing consumer demand for green solutions, potentially driving long-term growth.

Strategic Alliances

Strategic alliances with raw material suppliers enhance cost efficiency, supporting margin sustainability and competitive positioning in the market.

Cash Flow Improvement

Improved free cash flow management enhances financial flexibility, enabling Astron to invest in growth opportunities and manage debt obligations effectively.

Negative Factors

Revenue Decline

Ongoing revenue decline indicates challenges in market demand or competitive positioning, potentially impacting long-term business viability.

Rising Leverage

Increased leverage can strain financial resources and limit strategic flexibility, posing risks to Astron's long-term financial health.

Profitability Issues

Sustained profitability challenges highlight operational inefficiencies, which may hinder Astron's ability to invest in growth and innovation.

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

Company Description

Astron Paper & Board Mill Ltd. (ASTRON) is a prominent manufacturer in the paper and board sector, specializing in the production of high-quality paper and packaging materials. The company operates within the pulp and paper industry, focusing on sustainable practices and innovative solutions to meet the growing demand for eco-friendly packaging. ASTRON's core products include various grades of paper and board, catering to both industrial and consumer markets, with an emphasis on recyclable and biodegradable materials.

How the Company Makes Money

ASTRON generates revenue primarily through the sale of its paper and board products to a diverse range of customers, including packaging companies, retailers, and wholesalers. The company's revenue model is built around direct sales, long-term contracts, and partnerships with key players in the packaging and retail sectors. Significant revenue streams include the production of corrugated cardboard, containerboard, and specialty papers, which are sold both domestically and internationally. Additionally, ASTRON benefits from strategic alliances with suppliers of raw materials, which helps reduce production costs and improve profitability. The company's commitment to sustainability also opens up new revenue opportunities through green certifications and eco-friendly product lines, appealing to environmentally conscious consumers and businesses.

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	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	390.78M	962.28M	3.11B	3.95B	5.02B	4.34B
Gross Profit	-65.13M	7.46M	891.35M	81.47M	463.00M	662.00M
EBITDA	-246.24M	-332.60M	28.87M	-167.66M	267.86M	318.97M
Net Income	-524.61M	-567.10M	-112.07M	-239.47M	81.11M	102.14M
Balance Sheet
Total Assets	0.00	2.17B	2.94B	3.12B	3.50B	3.23B
Cash, Cash Equivalents and Short-Term Investments	2.79M	2.79M	103.39M	102.30M	89.31M	4.91M
Total Debt	0.00	779.87M	828.53M	844.37M	764.63M	577.17M
Total Liabilities	-913.20M	1.26B	1.46B	1.53B	1.67B	1.47B
Stockholders Equity	913.20M	913.20M	1.48B	1.59B	1.84B	1.76B
Cash Flow
Free Cash Flow	0.00	39.63M	99.46M	5.42M	-136.01M	235.31M
Operating Cash Flow	0.00	39.71M	118.97M	111.49M	-99.07M	348.52M
Investing Cash Flow	0.00	15.99M	-10.71M	-96.35M	-30.77M	-50.04M
Financing Cash Flow	0.00	-156.29M	-107.17M	-2.16M	112.59M	-242.70M

Astron Paper & Board Mill Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.17
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 6.17 is below the 20-day moving average (MA) of 6.34, below the 50-day MA of 8.05, and below the 200-day MA of 13.45, indicating a bearish trend. The MACD of -0.55 indicates Negative momentum. The RSI at 36.28 is Neutral, neither overbought nor oversold. The STOCH value of 51.08 is Neutral, 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
STARPAPER	74 Outperform	₹2.55B	6.58	―	2.15%	-5.21%	-32.96%
RUCHIRA	68 Neutral	₹3.61B	5.35	―	4.14%	2.56%	36.81%
NRAIL	67 Neutral	₹8.43B	40.09	―	0.41%	36.98%	-64.34%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
EMAMIPAP	57 Neutral	₹5.24B	28.57	―	1.84%	-6.94%	-78.40%
ASTRON	44 Neutral	₹286.91M	-0.59	―	―	-98.56%	-96.41%

Astron Paper & Board Mill Ltd. Corporate Events

Astron Paper & Board Mill Ltd. Announces Trading Window Closure

Astron Paper & Board Mill Ltd. has announced the closure of its trading window in compliance with SEBI regulations, effective from October 1, 2025, until 48 hours after the declaration of its unaudited financial results for the quarter and half-year ending September 30, 2025. This measure is part of the company’s policy on insider trading prohibition, impacting directors, promoters, and designated persons, ensuring compliance and transparency in its financial disclosures.