Astron Paper & Board Mill Limited (ASTRON) — Financial Results

Investor Takeaways

Revenue declined from ₹78.4 Cr to ₹1.37 Cr over four quarters, with all quarters showing losses.

Net loss widened significantly in Q3FY25 to ₹-27.95 Cr from ₹-6.13 Cr in Q4FY24.

OPM turned deeply negative at -1106.57% in Q3FY25, indicating severe operational distress.

Market Cap of ₹21.53 Cr contrasts sharply with peer market caps exceeding ₹1,400 Cr.

P/E Ratio of -0.42 reflects negative earnings, with no profitability achieved in recent quarters.

Overall Tone: Cautious based on the numbers only.

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹1.37 Cr	N/A
Net Profit	₹-27.95 Cr	N/A
EBITDA	N/A	N/A
EPS	₹-6.01	N/A
OPM	-1106.57%	N/A

What Changed

The company's financial performance deteriorated sharply in the latest quarter (Q3FY25), with revenue collapsing from ₹78.4 Cr in Q4FY24 to ₹1.37 Cr, while net loss expanded from ₹-6.13 Cr to ₹-27.95 Cr. This resulted in an OPM of -1106.57%, far worse than the prior quarter's -5.64%. The trend shows accelerating losses across all four quarters, with profitability never achieved in any period. The P/E Ratio of -0.42 confirms persistent unprofitability, and the market capitalization of ₹21.53 Cr appears disproportionately low relative to operational scale indicated by earlier revenue figures. Peer comparisons reveal significantly larger market caps for comparable companies, suggesting potential undervaluation or operational challenges unique to this entity.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Astron Paper & Board Mill Limited	-0.42	N/A	N/A	21.53
JK Paper Limited	10.61	N/A	N/A	6920.03
West Coast Paper Mills Limited	7.97	N/A	N/A	3085.14
Seshasayee Paper and Boards Limited	10.05	N/A	N/A	1461.6

Astron's negative P/E Ratio and minimal market capitalization contrast sharply with profitable peers trading at positive P/E ratios and substantially higher market caps.