MarketFriction

Astron Paper & Board Mill Ltd

NSE ASTRON · BSE 540824 · Paper & Paper Products
₹2.81 +0.36%
NSE close2026-10-01
52 week range2.80 - 13.84
Market cap₹13.9 Cr.
IPO 2017 · -94% since Insolvency Price band 5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales78.3880.6773.3378.4058.1535.561.360.881.280.001.450.07
Expenses76.1078.3570.7282.5567.1242.8516.502.941.450.840.421.97
Operating Profit2.282.322.61-4.15-8.97-7.29-15.14-2.06-0.17-0.841.03-1.90
OPM %2.91%2.88%3.56%-5.29%-15.43%-20.50%-1,113.24%-234.09%-13.28%71.03%-2,714.29%
Other Income0.300.450.290.570.710.120.000.090.000.000.000.00
Interest2.442.622.692.792.633.442.903.413.132.103.942.15
Depreciation1.671.561.581.561.681.561.561.521.661.541.541.50
Profit before tax-1.53-1.41-1.37-7.93-12.57-12.17-19.60-6.90-4.96-4.48-4.45-5.55
Tax %-22.88%-31.91%-28.47%-37.20%-29.28%-23.99%33.62%15.36%0.00%0.00%0.00%0.00%
Net Profit-1.17-0.96-0.98-4.98-8.90-9.26-26.19-7.96-4.96-4.49-4.46-5.55
EPS in Rs-0.25-0.21-0.21-1.07-1.91-1.99-5.63-1.71-1.07-0.97-0.96-1.19
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales152157182251373358435512395311963
Expenses1331371612193233244074854103081295
Operating Profit1920223250342827-153-33-2
OPM %13%12%12%13%13%10%6%5%-3.8%1.0%-35%-68%
Other Income001111312200
Interest11111110101010810111211
Depreciation333455666666
Profit before tax6681936201514-29-12-51-19
Tax %31%4%-20%-10%33%34%34%37%-29%-28%2%0%
Net Profit4610212413109-21-9-52-19
EPS in Rs1.271.873.084.485.182.872.081.87-4.45-1.89-11.25-4.18
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-33%-64%-81%-97%
Compounded Profit Growth%%2%63%
Stock Price CAGR%-45%-56%-78%
Return on Equity-1%-13%-22%-22%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital323232464646464646464646
Reserves-3313801041171271351141065334
Borrowings727889755761456676807675
Other Liabilities364538318786878567614452
Total Liabilities137158173232294310305332304293220207
Fixed Assets66757990121129126122134129123116
CWIP1011320780000
Investments000044665555
Other Assets7084921281671771661971651589386
Total Assets137158173232294310305332304293220207
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1116165371933-1475312
Cash from Investing Activity-2-10-10-28-27-11-4-1-9-020
Cash from Financing Activity-8-3-738-26-3-24144-5-14-12
Net Cash Flow12-115-1546-210-10-0
Free Cash Flow957-2213822-17-43312
CFO/OP56%86%80%26%81%80%133%-41%-59%173%-9%-631%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days69867086829566695962782,605
Inventory Days12912913275948659475366561,921
Days Payable20277953107125927173961455,030
Cash Conversion Cycle178188123108685533453933-11-504
Working Capital Days12171220232324283-16-150-6,766
ROCE %17%16%16%17%22%14%11%10%-8%-1%-19%-5%
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters27.06%27.06%27.06%27.06%27.06%27.06%25.37%25.37%25.37%25.37%25.37%25.37%
FIIs0.00%0.00%0.00%0.00%0.06%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public72.93%72.93%72.94%72.94%72.89%72.94%74.63%74.63%74.62%74.63%74.63%74.64%
No. of Shareholders20,82421,85321,07521,04920,96521,18721,83921,75521,26721,21521,32721,441

Fundamentals

Market Cap₹ 13.9 Cr.
Current Price₹ 2.98
Book Value₹ 17.3
ROCE-4.91 %
ROE-21.6 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-97%
Compounded Profit Growth (TTM)63%
Standalone figures.
Valuation
Market capRs 13 Cr
Enterprise valueRs 88 Cr
Price to book0.16x
Price to sales4.68x
EV / sales31.66x
Price to cash flow1.10x
Earnings yield-148.90%
P/B, 3-year average0.54x
P/E, 5-year average22.90x
P/B, 5-year average0.69x
Profitability
Operating margin (excl. other income)-67.74%
Operating margin (incl. other income)-67.74%
EBITDA margin-67.38%
Pre-tax margin-696.77%
Net profit margin-697.49%
Net margin, latest quarter-7928.57%
ROE-21.58%
ROCE-4.91%
ROA-9.10%
ROE, 3-year average-22.90%
ROCE, 3-year average-8.30%
ROA, 3-year average-10.81%
ROE, 5-year average-15.18%
ROCE, 5-year average-4.65%
ROA, 5-year average-7.24%
ROIC (approx.)-5.22%
Growth
Sales growth (latest year)-97.09%
Sales CAGR, 3 years-80.81%
Sales CAGR, 5 years-63.57%
Sales growth QoQ-95.17%
Sales growth YoY (latest quarter)-92.05%
Per share
EPS (TTM)Rs -4.18
EPS (latest quarter)Rs -1.19
EPS, 3-year averageRs -6.57
EPS, 5-year averageRs -3.93
Book value per shareRs 17.28
Sales per shareRs 0.60
Cash flow per shareRs 2.56
Free cash flow per shareRs 2.58
Efficiency
Asset turnover0.01x
Fixed asset turnover0.02x
Inventory turnover0.19x
Inventory days1921 days
Debtor days2605 days
Debtors turnover0.14x
Creditor days5030 days
Cash conversion cycle-504 days
Working capital days-6766 days
Leverage
Total debtRs 75 Cr
Cash and bankRs 0 Cr
Net debtRs 75 Cr
Debt to equity0.94x
Interest coverage-0.72x
Owners' fund to total sources38.74%
Debt to assets36.31%
Cash flow
Cash from Operating Activity (latest year)Rs 12 Cr
Cash from Financing Activity (latest year)Rs -12 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs 12 Cr
FCFE (approx.: FCF + change in debt)Rs 11 Cr
Sales to cash flow0.23x
Statement figures
Net sales (TTM)Rs 3 Cr
Net sales (latest year)Rs 3 Cr
Sales (latest quarter)Rs 0 Cr
Operating profit excl. other income (latest year)Rs -2 Cr
Operating profit (latest quarter)Rs -2 Cr
EBITDA (TTM)Rs -2 Cr
PBDT (TTM)Rs -13 Cr
Profit before tax (TTM)Rs -19 Cr
Net profit (TTM)Rs -19 Cr
Net profit (latest year)Rs -19 Cr
Net profit (latest quarter)Rs -6 Cr
Depreciation (TTM)Rs 6 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 11 Cr
Cost of goods sold (latest year)Rs 2 Cr
Total expenditure (latest year)Rs 5 Cr
Total income (latest year)Rs 3 Cr
Share capitalRs 46 Cr
ReservesRs 34 Cr
Shareholders' fundsRs 80 Cr
Total assetsRs 207 Cr
Net blockRs 116 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 5 Cr
ReceivablesRs 20 Cr
InventoryRs 12 Cr
Other liabilitiesRs 52 Cr
Shares outstanding (crore)4.65
Ownership
Promoter holding25.37% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 0.16 is the lowest in 8.9 years (median 1.01).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodASTRONNifty 50Difference
1 week-4.7%-2.8% -2.0 pts
1 month-8.5%-6.8% -1.7 pts
3 months-29.4%-7.6% -21.8 pts
6 months-16.9%+0.4% -17.3 pts
1 year-80.5%-9.9% -70.6 pts
2 years-87.6%-13.6% -74.0 pts
3 years-92.0%+14.2% -106.1 pts
5 years-95.1%+27.9% -123.0 pts

Red flags

F-score 4 of 8
seriousInsolvency process Insolvency process 2026-09-22: Astron Paper & Board Mill Limited has informed the Exchange about Corporate Insolvency Resolution Process
explainReceivables outrunning sales Receivables grew -2% vs sales -97% in 2026
lookInventory outrunning sales Inventory grew -15% vs sales -97% in 2026
lookRepeated losses Net loss in each of the last two years
lookOn NSE surveillance On NSE surveillance: Insolvency
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Mar 2026
Sales ₹0 Cr -92.0% vs Mar 2025. Net loss ₹6 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-23Annual General Meeting
2023-09-22Annual General Meeting
2022-09-21Annual General Meeting
2021-09-16 Annual General Meeting
2020-09-18 Annual General Meeting
2019-09-17 Annual General Meeting
2018-09-12 Annual General Meeting
DateTypeWhat it says
2026-09-22Corporate Insolvency ResolutCorporate Insolvency Resolution Process
2026-09-19Corporate Insolvency ResolutCorporate Insolvency Resolution Process
2026-09-17Corporate Insolvency ResolutCorporate Insolvency Resolution Process
2026-09-16Corporate Insolvency ResolutCorporate Insolvency Resolution Process
2026-09-16Corporate Insolvency ResolutCorporate Insolvency Resolution Process
2026-09-16Corporate Insolvency ResolutCorporate Insolvency Resolution Process
2026-09-16Corporate Insolvency ResolutCorporate Insolvency Resolution Process
2026-09-02Corporate Insolvency ResolutCorporate Insolvency Resolution Process
2026-09-01Corporate Insolvency ResolutCorporate Insolvency Resolution Process
2026-08-29Corporate Insolvency ResolutCorporate Insolvency Resolution Process
2026-08-20Corporate Insolvency ResolutCorporate Insolvency Resolution Process
2026-07-28Corporate Insolvency ResolutCorporate Insolvency Resolution Process
2026-07-06Disclosure under SEBI TakeovKirit Patel, Karshanbhai Hirabhai Patel, Ramakant Kantibhai Patel, Shreerangam Packaging Pvt. Ltd., Haresh Ambalal Patel, has Submitted to the Exchang...
2026-06-23Clarification - Financial ReThe Exchange has sought clarification from Astron Paper & Board Mill Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SE...
2026-06-01Integrated Filing- FinancialResults For The Financial Year Ended On 31.03.2026
2026-06-01Board meeting outcomeAstron Paper & Board Mill Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-15Corporate Insolvency ResolutCorporate Insolvency Resolution Process under Section 9(5) of the Insolvency and Bankruptcy Code, 2016
2026-05-15General UpdatesIntimation of Admission of Corporate Insolvency Resolution Process (CIRP) under Section 9(5) of the Insolvency and Bankruptcy Code, 2016
2026-03-31Resignation of Independent dResignation of Independent director.
2026-03-31ResignationResignation of Mr. Sudhir Maheshwari from the position of Independent Director and also cease to be a Chairman of Audit Committee w.e.f. 25.03.2026
2026-03-20Shareholder meetingVoting results.
2026-03-19Shareholder meetingOutcome of 1st EGM held on 19.03.2026 to appoint Statutory Auditor to fill the casual vacancy and regularization of Ms. Janaki Patel as an Independent...
2026-03-19Shareholder meetingOutcome of 1st EGM held on 19.03.2026 to appoint Statutory Auditor to fill the casual vacancy and regularization of Ms. Janaki Patel as an Independent...
2026-03-13Clarification - Financial ReThe Exchange has sought clarification from Astron Paper & Board Mill Limited for the quarter ended 31-Dec-2025 with respect to Regulation 33 of the SE...
2026-02-23Shareholder meetingNotice of Extraordinary General Meeting to be held on March 19, 2026
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
EPS in the scrip is zero (4 trailing quarters)Insolvency Resolution Process(IRP)Less than 100 unique PAN traded in previous 30 daysUnder BZ/SZ Series

Quick answers

What is the market cap of Astron Paper & Board Mill Ltd?

Astron Paper & Board Mill Ltd (ASTRON) has a market capitalisation of Rs 13.9 Cr. at the 2026-10-01 close.

What were Astron Paper & Board Mill Ltd's latest quarterly results?

In the Mar 2026 quarter, Astron Paper & Board Mill Ltd sales was Rs 0 Cr (-92.0% vs Mar 2025) with a net loss of Rs 6 Cr.

What is the 52-week high and low of Astron Paper & Board Mill Ltd?

The 52-week high is Rs 13.84 and the 52-week low is Rs 2.80.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03