What we do Astron Paper & Board Mill Ltd manufactures a full range of kraft paper from recycled waste paper, primarily serving the packaging industry across India. |
Founded in 2,010 |
Market share Not a market leader; company operates multiple plants in Gujarat with a capacity of 174,600 MT but is facing financial stress and losses. |
Problem solved Provides eco-friendly kraft paper alternatives made from recycled waste paper for sustainable packaging needs. |
Top clients or who we serve Mainly packaging companies and multinational corporations across India (B2B focus). |
Key management Kirit G Patel (Chairman and Managing Director), Ramakant Patel (Whole-time Director), Karshanbhai Patel (Director). |
Our journey and innovations Incorporated in 2010, commenced production in 2012, expanded capacity with acquisitions and new plants; holds ISO and FSC certifications for quality and sustainability. |
Where we operate Operations across India with manufacturing plants in Gujarat (Halvad, Bhuj, Mehsana). |
Top products or what we offer Kraft paper from 80 to 350 GSM used mainly for packaging; key product is 100% recycled kraft paper rolls. |
Top brands Astron Kraft Paper (recognized for quality and sustainability certifications). |
Raw materials needed Primarily waste paper (over 80% imported) as raw material for kraft paper manufacturing. |
Raw materials supplier Various international suppliers of recycled waste paper; import dependent. |
Recurring vs cyclical contribution Revenue largely cyclical with exposure to raw material import costs and market demand fluctuations. |
Our industry position Struggling financially; plants shut down in 2024; accounts declared Non-Performing Asset (NPA). |
Financial highlights FY 2024-25 revenue: ₹96.23 crores with net loss of ₹56.71 crores; severe losses and liquidity issues as of latest fiscal. |
Geographical revenue split Revenue derived from domestic sale across India. |
Order book - |
Whats driving growth Previously growth driven by packaging demand, sustainability trends, and capacity expansion; currently facing operational shutdowns and financial distress. |
Our future plans Management aims to resume operations and recover by September 2025 through strategic investor discussions and restructuring. |
Our green promise Certified under FSC for sustainable sourcing and ISO 14001 for environmental management. |
Our people and values Workforce reduced to 32 employees as of March 2025; values include sustainability and customer focus. |
Key challenges ahead Financial distress, plant shutdowns, NPA classification, raw material import volatility, and pending insolvency proceedings. |
Interesting facts Acquired Bhuj plant via auction; holds FSC certification for 85% post-consumer recycled kraft paper. |
Risks and strategy Facing liquidity crunch and creditor legal actions; strategy focuses on business revival through fund infusion and asset monetization. |
