Astron Paper & Board Mill Limited (ASTRON) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Astron Paper & Board Mill Limited ₹4.64, price ₹2.97, upside +56.2%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range ₹2.84 – ₹71.65 · fair‑value band ₹2.57 – ₹4.64 · the ₹2.97 price screens below the ₹4.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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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.
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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.
Stock analysis
Astron Paper & Board Mill Limited (ASTRON) currently trades at ₹2.97, while our model-based Fair Value estimate is ₹4.64, implying the stock looks roughly 36.0% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of ₹9.81 per share, and 3 of the 4 models we run sit above the ₹2.97 price.
Bear case: the DCF Models group reads lowest at ₹1.35, and 1 of the 4 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹2.57 (bear) to ₹4.64 (bull), the price of ₹2.97 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 49/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Astron Paper & Board Mill Limited reported revenue of ₹27.9M in FY2026 versus ₹5.0B in FY2022, a compound −72.7%/yr. Reported net income was −₹212M in FY2026.
Key figures
Market cap ₹184M (≈ $1.9M) · P/S ratio 6.60 · EPS (TTM) ₹−4.56 · Return on equity −26.6% · Return on assets (EBIT) −5.2% · Operating margin −5,929% · Revenue (TTM) ₹27.9M · Revenue growth (YoY) −92.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).
What moves the price
The share trades about 79% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 25% fair-value upside, at 56%, ASTRON screens cheaper than that median.
Fair Value models
Bear ₹2.57Fair Value ₹4.64Bull ₹4.64
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.23/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−97.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−80.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−63.5%
Start year 2021 (pandemic). Over 10 years: −33.2% a year
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−15.9%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
5.9% (2021) → −344.7% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+22.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +17.6% a year for the price.
Compare Astron Paper & Board Mill Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Paper & Paper Products · 120 stocks
Beats the industry median on 4/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Above median
Fair Value upside+56.2% · Top 25%
Profitability
Return on assets−2.9% · Bottom 25%
Growth and dividend
Revenue growth−92.4% · Bottom 25%
Balance sheet
Debt / equity0.28× · Above median
Valuation Multiplesvs Paper & Paper Products median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Astron Paper & Board Mill Limited Fair Value". https://www.fairvalue-calculator.com/stock/ASTRON
Frequently asked questions
Is Astron Paper & Board Mill Limited (ASTRON) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹4.64 versus a price of ₹2.97, about +56% upside (undervalued).
What is the fair value of ASTRON?
Our model-based fair value for Astron Paper & Board Mill Limited is ₹4.64 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹2.97.
What is the quality score of ASTRON?
Astron Paper & Board Mill Limited has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Astron Paper & Board Mill Limited (ASTRON)?
Our model-based price target is the fair value of ₹4.64 (as of Sep 27, 2026) from 5 valuation models. Cautious scenario ₹2.57, optimistic scenario ₹4.64. It is a calculation from audited fundamentals, not an analyst target.
What is the Astron Paper & Board Mill Limited stock forecast for 2026?
Our models put fair value at ₹4.64, about +56% upside versus a price of ₹2.97 (undervalued). Cautious scenario ₹2.57, optimistic scenario ₹4.64. The calculation is refreshed regularly with new filings.
What is the revenue of Astron Paper & Board Mill Limited (ASTRON)?
Astron Paper & Board Mill Limited reported trailing-twelve-month revenue of about ₹27.9M (latest available figure, as of Sep 27, 2026).
What growth is priced into Astron Paper & Board Mill Limited (ASTRON)?
For today's price to be fair in a discounted-cash-flow model, Astron Paper & Board Mill Limited would have to grow free cash flow by +22.4 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -63.5 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of ASTRON use?
Our models discount Astron Paper & Board Mill Limited at 10.9 %: a base by market capitalisation (nano), damped by beta 0.15, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Astron Paper & Board Mill Limited that is +22.4 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Astron Paper & Board Mill Limited (ASTRON) delivered so far?
Over the past 5 years revenue at Astron Paper & Board Mill Limited grew -63.5 % a year. The price currently implies +22.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Astron Paper & Board Mill Limited (ASTRON) growing?
The median revenue growth in the sector is +3.7 % a year. That is the yardstick for the growth priced into Astron Paper & Board Mill Limited (+22.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Astron Paper & Board Mill Limited (ASTRON)?
The free-cash-flow yield on the price is 19.51 %: that much free cash flow Astron Paper & Board Mill Limited produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Astron Paper & Board Mill Limited (ASTRON)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Astron Paper & Board Mill Limited it is ₹4.64 per share (as of Sep 27, 2026), against a price of ₹2.97. It is the blended result of 5 valuation models (cash flow, earnings, asset, dividend).
Is Astron Paper & Board Mill Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, ASTRON trades below its calculated fair value: price ₹2.97, fair value ₹4.64, a gap of about +56% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ASTRON?
No. The price is what the market pays today (₹2.97); the fair value is what the company's own numbers justify (₹4.64). For Astron Paper & Board Mill Limited the two are ₹1.67 per share apart. That gap is exactly why we show both numbers side by side.
How much is Astron Paper & Board Mill Limited worth?
The market values Astron Paper & Board Mill Limited at about ₹184M (market capitalisation, as of Sep 27, 2026). Per share that is ₹2.97; our models calculate a fair value of ₹4.64 per share.
What do the bullish and bearish scenarios say about ASTRON?
Our models span a range for Astron Paper & Board Mill Limited: cautious scenario ₹2.57, base ₹4.64, optimistic ₹4.64 per share (as of Sep 27, 2026, price ₹2.97). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Astron Paper & Board Mill Limited (ASTRON)?
Balance-sheet figures for Astron Paper & Board Mill Limited (as of Sep 27, 2026): return on equity −26.6%, debt of 0.28 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is ASTRON from its 52-week high?
Astron Paper & Board Mill Limited trades at ₹2.97, about 79% below its 52-week high of ₹14.40 and 5% above the low of ₹2.84 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of ₹4.64 is for.
Which stocks are comparable to Astron Paper & Board Mill Limited?
From the same area (Basic Materials) we also value UPM-Kymmene Oyj, Shandong Sunpaper Co, Nine Dragons Paper (Holdings) Limited, The Navigator Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Astron Paper & Board Mill Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹2.97, calculated fair value ₹4.64 (+56%), Quality Score 49/100, from 5 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ASTRON calculated?
We run Astron Paper & Board Mill Limited through 5 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹4.64, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.9 % above its aggregate fair value. Astron Paper & Board Mill Limited currently trades 56 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Astron Paper & Board Mill Limited (ASTRON)?
The closing price on Sep 25, 2026 was ₹2.97. Our model-based fair value is ₹4.64, about +56% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Astron Paper & Board Mill Limited right now?
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (₹2.57 to ₹4.64) leaves room in how you read the outcome.
Key figures of Astron Paper & Board Mill Limited
How large is the market capitalisation of Astron Paper & Board Mill Limited (ASTRON)?
The market capitalisation of Astron Paper & Board Mill Limited is ₹184M (≈ $1.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Astron Paper & Board Mill Limited (ASTRON)?
The price-to-sales ratio of Astron Paper & Board Mill Limited is 6.60 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Astron Paper & Board Mill Limited (ASTRON)?
Earnings per share at Astron Paper & Board Mill Limited are ₹−4.56. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Astron Paper & Board Mill Limited (ASTRON)?
The return on equity (ROE) of Astron Paper & Board Mill Limited is −26.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Astron Paper & Board Mill Limited (ASTRON)?
On an EBIT basis the return on assets of Astron Paper & Board Mill Limited is −5.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Astron Paper & Board Mill Limited (ASTRON)?
The operating margin of Astron Paper & Board Mill Limited is −5,929% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Astron Paper & Board Mill Limited (ASTRON)?
Revenue at Astron Paper & Board Mill Limited is growing −92.4% versus a year earlier (3y avg −80.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Astron Paper & Board Mill Limited (ASTRON)?
Earnings per share at Astron Paper & Board Mill Limited are growing −95.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Astron Paper & Board Mill Limited (ASTRON) carry?
The net debt of Astron Paper & Board Mill Limited is ₹769M (fiscal year 2026, ≈ 28.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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