Astron Paper & Board Mill Ltd. (IN:ASTRON)
:ASTRON
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Astron Paper & Board Mill Ltd.
(ASTRON)
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Rating:50Neutral
Price Target:
₹4.00
▼(-34.43% Downside)
Action:ReiteratedDate:04/09/26
The score is held down primarily by weak financial performance (multi-year losses, revenue decline, and rising leverage) and a negative P/E that reflects lack of profitability. Technicals are mixed with mild near-term momentum but a clearly weak longer-term trend given the large gap below the 100/200-day averages.
Positive Factors
Improving free cash flow
Reported improvements in free cash flow from 2024 to 2025 and a recent positive free-cash-flow-to-net-income ratio indicate the company has enhanced cash conversion. This durable cash generation improvement supports capex, working capital and debt service if sustained beyond short-term fluctuations.
Negative Factors
Severe revenue decline
Nearly 98% reported revenue decline signals a collapsed sales base, which critically undermines fixed-cost absorption and operating leverage. Restoring revenue at scale is typically time-consuming and necessary for margin recovery, making near-term operational stability and profitability difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving free cash flow
Reported improvements in free cash flow from 2024 to 2025 and a recent positive free-cash-flow-to-net-income ratio indicate the company has enhanced cash conversion. This durable cash generation improvement supports capex, working capital and debt service if sustained beyond short-term fluctuations.
Read all positive factors
Astron Paper & Board Mill Ltd. (ASTRON) vs. iShares MSCI India ETF (INDA)
Market Cap
₹208.32M
Dividend YieldN/A
Average Volume (3M)15.72K
Price to Earnings (P/E)―
Beta (1Y)0.30
Revenue Growth-98.56%
EPS Growth-96.41%
CountryIN
Employees411
SectorBasic Materials
Sector Strength58
IndustryPaper, Lumber & Forest Products
Share Statistics
EPS (TTM)-1.09
Shares Outstanding46,500,000
10 Day Avg. Volume20,046
30 Day Avg. Volume15,720
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.56
Price to Sales (P/S)0.53
P/FCF Ratio12.84
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Astron Paper & Board Mill Ltd. Business Overview & Revenue Model
Company Description
Astron Paper & Board Mill Limited manufactures and sells a range of kraft papers from waste paper for packaging industry in India. The company offers high ring crust test papers, kraft liners, liners, and corrugated medium papers for use in the ma...
How the Company Makes Money
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Astron Paper & Board Mill Ltd. Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 35.32M | 962.28M | 3.11B | 3.95B | 5.02B | 4.34B |
| Gross Profit | -121.94M | 7.46M | 891.35M | 81.47M | 463.00M | 662.00M |
| EBITDA | -182.27M | -332.60M | 28.87M | -167.66M | 267.86M | 318.97M |
| Net Income | -492.93M | -567.10M | -112.07M | -239.47M | 81.11M | 102.14M |
Balance Sheet | ||||||
| Total Assets | 2.07B | 2.17B | 2.94B | 3.12B | 3.50B | 3.23B |
| Cash, Cash Equivalents and Short-Term Investments | 1.60M | 2.79M | 103.39M | 102.30M | 89.31M | 4.91M |
| Total Debt | 766.52M | 779.87M | 828.53M | 844.37M | 764.63M | 577.17M |
| Total Liabilities | 1.26B | 1.26B | 1.46B | 1.53B | 1.67B | 1.47B |
| Stockholders Equity | 813.05M | 913.20M | 1.48B | 1.59B | 1.84B | 1.76B |
Cash Flow | ||||||
| Free Cash Flow | 64.46M | 39.63M | 99.46M | 5.42M | -136.01M | 235.31M |
| Operating Cash Flow | 64.46M | 39.71M | 118.97M | 111.49M | -99.07M | 348.52M |
| Investing Cash Flow | 13.00K | 15.99M | -10.71M | -96.35M | -30.77M | -50.04M |
| Financing Cash Flow | -65.67M | -156.29M | -107.17M | -2.16M | 112.59M | -242.70M |
Astron Paper & Board Mill Ltd. Technical Analysis
Neutral
6.10
Price Trends
4.09
Positive
5.27
Negative
9.77
Negative
Market Momentum
-0.13
Negative
55.46
Neutral
67.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASTRON, the sentiment is Neutral. The current price of 6.1 is above the 20-day moving average (MA) of 3.84, above the 50-day MA of 4.09, and below the 200-day MA of 9.77, indicating a neutral trend. The MACD of -0.13 indicates Negative momentum. The RSI at 55.46 is Neutral, neither overbought nor oversold. The STOCH value of 67.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:ASTRON.
Astron Paper & Board Mill Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹3.26B | 44.75 | ― | 4.14% | 2.56% | 36.81% | |
74 Outperform | ₹2.11B | 7.89 | ― | 2.15% | -5.21% | -32.96% | |
67 Neutral | ₹7.20B | 14.28 | ― | 0.41% | 36.98% | -64.34% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | ₹4.15B | 7.78 | ― | 1.84% | -6.94% | -78.40% | |
50 Neutral | ₹208.32M | -1.40 | ― | ― | -98.56% | -96.41% | |
49 Neutral | ₹4.53B | -11.89 | ― | ― | ― | ― |
* Basic Materials Sector Average
IN:ASTRON
Astron Paper & Board Mill Ltd.
4.48
-8.17
-64.58%
IN:EMAMIPAP
Emami Paper Mills Limited
68.62
-19.67
-22.28%
IN:NRAIL
NR Agarwal Industries Ltd.
422.95
183.81
76.86%
IN:RAMANEWS
Shree Rama Newsprint Ltd.
30.70
-8.17
-21.02%
IN:RUCHIRA
Ruchira Papers Limited
109.31
-7.72
-6.60%
IN:STARPAPER
Star Paper Mills Ltd.
134.95
-19.08
-12.39%
Astron Paper & Board Mill Ltd. Corporate Events
Astron Paper & Board Mill to Close Trading Window Ahead of FY 2025-26 Results
Mar 25, 2026
Astron Paper Board Mill Ltd. has announced that its trading window for dealing in company securities will be closed for directors, promoter and promoter group, designated persons and their immediate relatives from April 1, 2026, until 48 hours af...
Astron Paper & Board Mill Fills Auditor Vacancy, Confirms New Independent Director at EGM
Mar 19, 2026
Astron Paper Board Mill Ltd. held its first Extraordinary General Meeting for FY 2025-26 on March 19, 2026, via video conferencing in compliance with MCA and SEBI regulations. The meeting was convened with the requisite quorum, following an e-vot...
Exchange Seeks Clarification From Astron Paper on Missing Review Reports
Mar 13, 2026
Astron Paper Board Mill Ltd. has been asked by the stock exchange to provide clarifications for the quarter ended 31 December 2025 regarding its compliance with financial reporting norms. The exchange noted that the company has not submitted its ...
Astron Paper & Board Mill Cleared of Fraud Classification by ICICI Bank
Jan 22, 2026
Astron Paper Board Mill Ltd. has announced that ICICI Bank, after reviewing the company’s submissions, has confirmed the company’s account will not be classified as fraud. The clarification removes a significant overhang of potential ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
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