Approval of unaudited financial results for the quarter ended on 31st December, 2025
ASTRON · price
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Awaiting price reaction for this filing.
Astron Paper & Board Mill reported standalone revenue of just ₹144.71 lakhs for Q3 FY26, with 9-month FY26 revenue collapsing to ₹272.59 lakhs from ₹9,506.28 lakhs in 9M FY25 — a ~97% year-on-year decline indicating near-complete halt of operations (cost of material consumed was nil). The company posted a standalone loss of ₹445.64 lakhs in Q3 FY26 and ₹1,390.07 lakhs for 9M FY26, though losses narrowed versus the prior year. Finance costs remained high at ₹393.83 lakhs for the quarter. Statutory auditors M/s H K Shah & Co. issued an unmodified limited review opinion on the results. The board also disclosed that the company is undergoing insolvency proceedings under the IBC, 2016, and secured lenders have taken symbolic possession of certain assets under the SARFAESI Act. Additionally, the Company Secretary position is vacant, causing non-compliance with Section 203 of the Companies Act. A postal ballot was approved to ratify the appointment of a new independent director and to fill a casual vacancy in the statutory auditor's role for FY25-26.
Highly negative for shareholders — the company is effectively under insolvency, revenue has nearly vanished, and lenders have taken possession of assets. The vacant Company Secretary role and auditor casual vacancy further signal governance stress. The stock is likely to remain under severe pressure.