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Astron Paper & Board Mill Limited (ASTRON) Fair Value & Analysis

Basic Materials · IN · Market cap ₹184M

AP Astron Paper & Board Mill Limited ASTRON · NSE
Price₹3.55
Fair Value₹1.08
Upside-69.6%
Quality49/100
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Weak Growth
Thin margins · 0.0% net margin
Low debt · generates free cash flow
Trails peers (3/9)
Narrow moat 6/100
Evidence: Low Range ₹1.08 – ₹3.84 Share as image

Fair value as of: Aug 2, 2026

From 3 valuation models · updated 11 days ago

Fair value updated Aug 2, 2026, revised from ₹1.99 to ₹1.08 (−45.7%) since Jun 29, 2026. Share price −5.6% over the past month.

Below-average quality, and screening another 70% overvalued on our models.

What matters now

  • The model range is unusually wide (₹1.08 to ₹3.84). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • 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 but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹71.65 ₹3.38 Fair Value ₹1.08 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range ₹3.38 – ₹71.65 · fair‑value band ₹1.08 – ₹3.84 · the ₹3.55 price screens above the ₹1.08 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Astron Paper & Board Mill Limited (ASTRON) currently trades at ₹3.55, while our model-based Fair Value estimate is ₹1.08, implying the stock looks roughly 69.6% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Trailing-twelve-month revenue stands at ₹27.9M. It earns a return on equity of -26.6%. Net debt stands at ₹769M. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹1.08 (bear case) to ₹3.84 (bull case); at ₹3.55, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Basic Materials peers we cover trades at 0% fair-value upside, at -70%, ASTRON screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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. Evidence
Highest evidence
Growth DCF ₹0.1500 ₹1.17 ₹2.69 80
NCAV (Graham) ₹7.32 ₹9.81 ₹14.64 50
FCF DCF ₹0.0400 ₹1.13 ₹2.88 38
All 3 models by family
DCF Models
FCF DCF ₹0.0400 ₹1.13 ₹2.88 38
Asset-Based
NCAV (Graham) ₹7.32 ₹9.81 ₹14.64 50
Growth DCF
Growth DCF ₹0.1500 ₹1.17 ₹2.69 80

Widest divergence: Asset-Based (₹9.81) versus DCF Models (₹1.13). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹27.9M
Revenue growth (YoY) -92.4%
Return on equity -26.6%
Free cash flow ₹26.9M FY2026
Operating margin -5,929%
EPS (TTM) ₹-4.56
More key figures
EPS growth (YoY) -95.9%
Net debt ₹769M FY2026

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 50 · Market factors (momentum, volatility) 27

Profitability 0
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 22
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

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.

Growth Quality 23/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
₹27.9M
Latest YoY
−97.1%
Avg. growth/yr (3Y) 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.
−80.8%
Avg. growth/yr (5Y) 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.
−63.5%
Avg. growth/yr (13Y) 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.
−15.9%
Revenue −72.7%/yr
FY22 ₹5.0B
FY23 ₹3.9B
FY24 ₹3.1B
FY25 ₹962M
FY26 ₹27.9M
Net income
FY22 ₹81.1M
FY23 −₹239M
FY24 −₹112M
FY25 −₹567M
FY26 −₹212M

ASTRON screens 70% overvalued. Compare with Klabin S.A →

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Cite: Fair Value Calculator (2026). "Astron Paper & Board Mill Limited Fair Value". https://www.fairvalue-calculator.com/stock/ASTRON

Peer Group

Paper & Paper Products · 112 stocks

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.

Quality Score 49 · Above median
Fair Value upside −70% · Bottom 25%
Return on assets -3% · Bottom 25%
Net margin (TTM) 0% · Below median
Revenue growth -92% · Bottom 25%
Debt / equity 0.28× · Higher than median

Valuation Multiples vs Paper & Paper Products median · lower = cheaper

P/S (TTM) 0.07× · Cheaper than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 21
FUTURE 0 · sector 7
PAST 0 · sector 12
HEALTH 86 · sector 91
DIVIDEND 0 · sector 44

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
Klabin S.A KLBN11 R$17.58 R$3.89 -78%
UPM-Kymmene Oyj UPM €23.45 €15.47 -34%
Suzano S.A SUZB3 R$41.70 R$138.01 +231%
Svenska Cellulosa Aktiebolaget SCA (publ) SCAB kr 103.00 kr 49.40 -52%
Shandong Sunpaper Co 002078 ¥14.13 ¥17.29 +22%
Holmen AB HOLMB kr 305.40 kr 217.72 -29%
Nine Dragons Paper (Holdings) Limited 2689 HK$7.55 HK$8.73 +16%
Empresas CMPC S.A CMPC 1,078 CLP 1,269 CLP +18%
Xianhe Co 603733 ¥21.09 ¥21.06 -0%
Billerud AB BILL kr 68.70 kr 48.60 -29%

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Frequently asked questions

Is Astron Paper & Board Mill Limited (ASTRON) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹1.08 versus a price of ₹3.55, about −70% (overvalued).
What is the fair value of ASTRON?
Our model-based fair value for Astron Paper & Board Mill Limited is ₹1.08 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹3.55.
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 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 Aug 2, 2026).
What is the net profit margin of ASTRON?
The net profit margin of Astron Paper & Board Mill Limited is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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