Asston Pharmaceuticals Ltd
Established in 2019, Asston Pharmaceuticals Limited is engaged in the manufacturing and export of pharmaceutical formulations and nutraceutical products under the “Asston” brand.[1]
- Market Cap ₹ 58.0 Cr.
- Current Price ₹ 68.2
- High / Low ₹ 126 / 68.0
- Stock P/E 10.9
- Book Value ₹ 45.4
- Dividend Yield 0.00 %
- ROCE 36.6 %
- ROE 41.8 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 48.2%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 358 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals
Part of BSE SME IPO
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 9.60 | 6.54 | 16.03 | 25.04 | 24.49 | |
| 9.96 | 5.02 | 12.21 | 19.60 | 19.08 | |
| Operating Profit | -0.36 | 1.52 | 3.82 | 5.44 | 5.41 |
| OPM % | -3.75% | 23.24% | 23.83% | 21.73% | 22.09% |
| 0.96 | 0.65 | 0.25 | 0.57 | -1.93 | |
| Interest | 0.43 | 0.72 | 0.76 | 0.95 | 0.81 |
| Depreciation | 0.01 | 0.04 | 0.06 | 0.04 | 0.09 |
| Profit before tax | 0.16 | 1.41 | 3.25 | 5.02 | 2.58 |
| Tax % | 31.25% | 25.53% | 25.23% | 23.11% | |
| 0.11 | 1.06 | 2.43 | 3.85 | 1.98 | |
| EPS in Rs | 1.57 | 15.14 | 31.00 | 6.14 | 3.15 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 38% |
| TTM: | 56% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 226% |
| TTM: | 57% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 48% |
| Last Year: | 42% |
Balance Sheet
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 0.70 | 0.70 | 0.78 | 6.27 | 8.51 |
| Reserves | 0.23 | 1.29 | 6.40 | 4.76 | 30.12 |
| 3.31 | 5.24 | 6.82 | 7.25 | 3.99 | |
| 5.25 | 6.46 | 6.70 | 9.84 | 6.86 | |
| Total Liabilities | 9.49 | 13.69 | 20.70 | 28.12 | 49.48 |
| 0.92 | 1.13 | 0.97 | 0.96 | 1.33 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 8.57 | 12.56 | 19.73 | 27.16 | 48.15 | |
| Total Assets | 9.49 | 13.69 | 20.70 | 28.12 | 49.48 |
Cash Flows
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| -1.19 | -0.32 | -3.97 | -0.03 | |
| 0.00 | -0.91 | -0.01 | 0.73 | |
| 1.29 | 1.21 | 3.86 | -0.51 | |
| Net Cash Flow | 0.10 | -0.01 | -0.12 | 0.19 |
Ratios
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 243.33 | 480.53 | 380.71 | 357.86 |
| Inventory Days | 27.24 | 204.29 | 53.91 | 18.59 |
| Days Payable | 246.78 | 754.51 | 217.50 | 154.11 |
| Cash Conversion Cycle | 23.79 | -69.70 | 217.12 | 222.34 |
| Working Capital Days | -12.17 | 43.53 | 162.80 | 178.86 |
| ROCE % | 37.14% | 37.78% | 36.62% |
Insights
In beta| Dec 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 (P) | |
|---|---|---|---|---|---|---|---|
| Total Production Volume MT |
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| Inventory Holding Days Days |
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| Export Presence (Number of Countries) Number |
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| Installed Tablet Production Capacity (Unit I) Crore Tablets/Month |
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| Number of Employees Number |
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| Capacity Utilization (Tablets) % |
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| Order Book USD |
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| Proposed Total Tablet Production Capacity (Unit I + Unit II) Crore Tablets/Month |
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| Registered Trademarks Number |
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Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Change in Management
2 Mar - Appointed M/s Panchal S K & Associates as statutory auditors on 27-Feb-2026, subject to shareholder approval.
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Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s
2 Mar - Board appointed M/s Panchal S K and Associates as statutory auditors on 27 Feb 2026, subject to shareholder approval.
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Cancellation of Board Meeting
7 Feb - Board meeting scheduled for 07 Feb 2026 canceled; revised date to be notified.
- Closure of Trading Window 30 Jan
-
Announcement under Regulation 30 (LODR)-Resignation of Statutory Auditors
29 Jan - M/s. Doshi Doshi & Co resigned as statutory auditor effective January 28, 2026; no concerns noted.
Business Model[1][2]
The company has a diversified model involving:
- Direct manufacturing and marketing of its products
- Contract manufacturing/loan licensing for third-party marketers
- Export sales primarily to African markets