ASHUTOSH PAPER MILLS LTD.

Operates a single segment of trading shares and securities, having shifted away from its earlier paper business identity — the listed entity was formerly Ashutosh Paper Mills and has been renamed Tridev Infraestates Limited. Operations are minimal: Q2 FY26 saw total income of Rs 4.33 lakh coming entirely from other income with nil revenue from operations. Cost structure is heavily skewed towards overheads — employee costs run at 50.9% of revenue and other operating expenses at 72.4%, while materials cost is nil. Accumulated losses are large enough that an NCLT order has been passed to halve share capital (face value cut from Rs 10 to Rs 5, then 2:1 consolidation) to write them off. Three company secretaries have cycled through the role over the past year, with the post currently vacant and the Managing Director and CFO overseeing compliance work.