Astron Paper & Board Mill share price & results
- Mar 2026
- Mar 2026
Gujarat-based kraft paper manufacturer for the corrugated packaging industry, now with all plants shut and under insolvency proceedings.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 0.07 | −92.0% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | -3200.0 | −2959.1 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | -6.1 | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Return on equity | -26.64 | +21.3 pts | Trailing twelve months | TTM to Mar 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | +1.7 pts | Fiscal year | FY ending Mar 2026 | Not in the analysed materials. No older figure is substituted. | |
| Revenue growth (YoY) | -97.09 | −27.7 pts | Trailing twelve months | TTM to Mar 2026 | Revenue change against the same period one year earlier. |
Price
Performance −74.5% 1Y
1Y: ₹10.29 on 24 Oct 2025 → ₹2.62. High ₹10.82 (29 Oct 2025), low ₹2.62 (27 Oct 2026).
- Previous close
- ₹2.64
- Market cap
- ₹14 Cr
- 52-week range
- ₹2.62 – ₹10.82
- One year
- −74.39%
- Return on equity (TTM to Mar 2026)
- -26.64%
Overview
- Symbol
- NSE:ASTRON
- Sector
- Forest Materials
- Industry
- Commodities
- Exchange
- NSE
- Currency
- INR
What Astron Paper & Board Mill Limited does
Based on the company's own presentations, annual report and earnings calls.
Astron Paper & Board Mill Limited manufactures kraft paper (including High RCT paper, Kraft Liner and Corrugated Medium Paper) used by the corrugation industry to make packaging boxes, using imported waste paper as the primary raw material. It operates through manufacturing units at Halvad and Bhuj in Gujarat, plus a Mehsana unit via wholly owned subsidiary Balaram Papers Private Limited. As of the FY2024-25 annual report, the company has shut down its Halvad plant since 8th September 2024 and its Bhuj plant has also gone non-operational, and it faces a pending NCLT petition for admission into Corporate Insolvency Resolution Process (CIRP).
Segments
- Kraft paper manufacturing
- Manufacturing plants
- 3 units (Halvad, Bhuj — both Gujarat; Mehsana via subsidiary Balaram Papers)
- Plant operating status
- All plants non-operational since 8 Sep 2024 (Halvad shut down; Bhuj also non-operational)
- Insolvency status
- NCLT petition pending for admission into Corporate Insolvency Resolution Process (CIRP)
- Wholly owned subsidiary
- Balaram Papers Private Limited (Mehsana, Gujarat; acquired July 2018)
- Paid-up equity shares
- 4,65,00,000 shares of INR 10 each
- Listed since
- 29 Dec 2017 (BSE: 540824, NSE: ASTRON)
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +46% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 58 | 36 | 1 | 1 | 1 | 0 | 1 | 0 |
| Expenses | 68 | 43 | 17 | 3 | 1 | 1 | 1 | 2 |
| Operating profit | -9 | -7 | -15 | -2 | -0 | -1 | 1 | -2 |
| Operating margin | −15.5% | −20.7% | −1106.6% | −240.9% | −15.6% | — | 55.9% | −3200.0% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 3 | 3 | 3 | 4 | 3 | 2 | 4 | 2 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | -13 | -12 | -20 | -7 | -5 | -5 | -5 | -6 |
| Tax rate | −29.2% | −34.4% | 40.7% | 55.6% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net profit | -10 | -8 | -28 | -11 | -5 | -5 | -5 | -6 |
| EPS (₹ per share) | -2.05 | -1.70 | -6.01 | -2.44 | -1.13 | -1.02 | -1.09 | -1.31 |
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Sales | 311 | 96 | 3 |
| Expenses | 309 | 130 | 5 |
| Operating profit | 2 | -34 | -2 |
| Other income | 1 | 0 | 0 |
| Interest | 11 | 12 | 12 |
| Depreciation | 7 | 7 | 7 |
| Profit before tax | -16 | -53 | -21 |
| Net profit | -11 | -57 | -21 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 46 | 46 | 46 | 46 | 46 | 46 |
| Reserves | 137 | 113 | 102 | 45 | 35 | 22 |
| Borrowings | 76 | 84 | 83 | 78 | 77 | 77 |
| Other liabilities | 90 | 68 | 63 | 48 | 49 | 58 |
| Total liabilities | 350 | 312 | 294 | 217 | 207 | 203 |
| Fixed assets | 144 | 155 | 150 | 142 | 139 | 135 |
| Capital work in progress | 8 | 0 | 0 | 0 | 0 | 0 |
| Investments | 2 | 1 | 1 | 1 | 1 | 1 |
| Other assets | 197 | 155 | 143 | 74 | 68 | 67 |
| Total assets | 350 | 312 | 294 | 217 | 207 | 203 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 35 | -10 | 11 | 12 | 4 | 14 |
| Cash from investing | -5 | -3 | -10 | -1 | 2 | 0 |
| Cash from financing | -24 | 11 | 0 | -11 | -16 | -14 |
| Net cash flow | 6 | -2 | 1 | 0 | -10 | 0 |
| Free cash flow | 24 | -13 | 1 | 10 | 5 | 14 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 67 | 70 | 60 | 64 | 83 | 2801 |
| Inventory days | 61 | 50 | 58 | 72 | 69 | 2451 |
| Days payable | 92 | 75 | 76 | 100 | 156 | 5388 |
| Cash conversion cycle | 36 | 45 | 42 | 35 | -4 | -136 |
| Working capital days | 25 | 28 | -5 | -18 | -132 | -6273 |
| Return on capital employed | 11.0% | 9.0% | −9.0% | −2.0% | −20.0% | −6.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Who owns it
Public hold 74.64% as of Mar 2026.
- Promoters 25.37%
- Foreign institutions 0.00%
- Domestic institutions 0.00%
- Public 74.64%
Who is on the register
Named in the Mar 2026 filing
Every holder of Astron Paper & Board Mill Limited above SEBI's 1% disclosure line, and what changed since Dec 2025.
| Holder | Stake | Change |
|---|---|---|
| 15.21% | unchanged | |
| 11.29% | −2.82 pp | |
| 7.67% | unchanged | |
| 5.94% | unchanged | |
| 5.11% | unchanged | |
| 2.22% | unchanged | |
| 1.40% | unchanged | |
| 1.32% | unchanged | |
| 1.01% | unchanged | |
| 1.01% | unchanged | |
| 0.27% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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