Astron Paper fails to file Q1 results; management non-cooperation under CIRP

NCLT admitted insolvencyRegulatory & Legal View source PDF Explain this filing

ASTRON · price

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Price reactionminutes from the announcement price · days from the prior close

+0.0%Reaction day

₹3.16

prior close

₹3.16

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.3%-0.3% vs market

On the reaction day the stock moved 0.3 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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10m

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15m

+0.0

30m

-1.3

Sessions after the filingfrom the prior close

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Reaction day

+0.0+0.3-0.3

Next day

-5.1+0.5-5.6

-7.0+0.1-7.0

-4.1+0.7-4.8

-2.2+0.4-2.6

-1.3+0.7-2.0

-3.8+0.1-3.9

15d

-6.6+1.5-8.1

-6.6+0.3-6.9

-12.0-6.2-5.8

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UpDownMarket · Nifty Microcap 250Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Astron Paper and Board Mill, under CIRP since May 11, 2026 with Resolution Professional Atul J Sheth, could not finalize Q1 (June 30, 2026) financial results within the deadline. Statutory auditors couldn't complete review due to missing books and records. Some prior period transactions lacked proper documentation. Suspended management has not cooperated, prompting a Section 19(2) IBC application at NCLT Ahmedabad seeking directions.

Likely market impact

Delayed financial reporting and non-cooperation by suspended management may worsen insolvency outcomes, hurting shareholder and creditor recovery prospects.