Astron Paper & Board Mill Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.

Astron Paper & Board Mill Limited reported unaudited Q1 FY26 (quarter ended June 30, 2025) results with standalone revenue from operations crashing to just Rs 127.88 lakhs from Rs 5,814.67 lakhs in Q1 FY25 — a ~98% year-on-year decline. The company posted a net loss of Rs 495.61 lakhs (EPS of -Rs 1.07) and reported no production activity during the quarter. The auditor SNDK & Associates LLP, contrary to the board's claim of an 'unmodified opinion,' actually issued a full DISCLAIMER of conclusion on both standalone and consolidated results, flagging that all bank loan accounts are NPA with total defaults of Rs 81.85 crores, plants at Halvad and Bhuj remain shut, net worth is substantially eroded, and liabilities far exceed current assets. The auditor explicitly stated the going concern status of the company is 'substantially and materially adversely affected' and that results should not have been prepared on a going concern basis. Additional issues include unprovided doubtful receivables, unprovided gratuity, no impairment test on PPE, and questionable recoverability of Rs 28.66 crores in loans to its loss-making subsidiary Balaram Papers Private Limited. The board also re-designated promoter Karshanbhai Patel from Executive to Non-Executive Director and reconstituted key committees.