Astron Paper & Board Mill Limited: Commencement of Commercial Production of PM-2 at Unit-1

Deepthi | Myequity news | Date : 15-10-2018 14:30:00 IST

Astron Paper & Board Mill Limited’s PM-2 located at HALVAD, GUJARAT has commenced commercial production of kraft paper from today i.e 15th October, 2018 having installed capacity of 33000 MT/year.

Capacity Expanding Rapidly

In the last one year our company has acquired two plants. The acquired plants include plant located at Bhuj, having capacity of 24000 MT/Year, which was acquired by auction from Union Bank of India in December, 2017 and commenced commercial production in February, 2018. The Company also acquired Balaram Papers Pvt Ltd, located at MEHSANA, GUJARAT by way of Wholly Own Subsidiary Company having installed capacity of 21600 MT/year.

Company is currently operating at almost 90% capacity utilization of its PM-1 located at HALVAD, GUJARAT with installed capacity of 96,000 MT per annum. With the commencement of commercial production for the new line PM-2, the installed capacity has increased by 33,000 MT/Year. As on date Company having installed capacity of 174600 MT/year.

Financial Performance

Astron reported strong sales in the 1st 3 months of FY19 at Rs.81 crore, up 60% YoY. For the full year FY18 the company reported Rs.254 Crore, up 37% over FY17. EBIDTA for the 1st 3 months of FY19 Company has reported Rs.11 Crore was up 61% YoY, with EBIDTA margins improved to 13.40% during the current quarter, on back of better efficiencies and higher volumes.

About Astron Paper & Board Mill Limited:

Astron Paper & Board Mill Limited founded in December 2010 by Mr. Kirit Patel (CMD), Mr. Ramakant Patel (Director), Mr. Karshanbhai Patel (Director) & Mr. Kanubhai B. Patel (Director) The company is having its corporate office in Ahmedabad.

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