Astron Paper & Board Mill Limited

ASTRON.NS

Packaging & Containers · Basic Materials

Price

₹4.15

+0.02 (+0.48%)

Market Cap

₹193.0M

Exchange

National Stock Exchange of India

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Jul 26, 2026 · filings through Mar 31, 2026

Astron Paper & Board Mill Limited manufactures and sells a range of kraft papers from wastepaper for the packaging industry in India. The company offers fluting medium, test liner, kraft liner, virgin top liner, H-RCT kraft liner, and liner products, as well as high ring crust test and corrugated medium papers. The company also exports its products. Astron Paper & Board Mill Limited was incorporated in 2010 and is based in Ahmedabad, India.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-92.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+46.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Cash Position

Cash flow positive

$9M cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Astron Paper & Board Mill Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

−0.1% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 46.5M (2022) → 46.5M (2026)

Score breakdown

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Quality

Gross Margin

-5006.1%

Thin — -5006.1% gross margin

Operating Margin

-5929.4%

Losing money on operations — -5929.4%

ROCE

-2.7%

Weak — -2.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-97.1%

Shrinking sales (-97.1% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

230.8%

Converts sales into free cash efficiently (230.8%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

1.13

Elevated debt (1.13)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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