Astron Paper Board approves Q3 FY26 results, reconstitutes committees, approves postal ballot
Astron Paper & Board Mill Limited approved its Un-Audited Financial Results for the quarter ended December 31, 2025. Revenue from operations was ₹144.71 Lakhs. The company reported a net loss of ₹445.64 Lakhs (standalone) and ₹505.52 Lakhs (consolidated). The Board also approved seeking shareholder consent for appointing Ms. Jankiben Patel as Independent Director and M/s H K Shah & Co. as Statutory Auditors.
The company is undergoing insolvency proceedings and enforcement actions, which pose a substantial risk to its operations and financial health. The vacant Company Secretary position indicates a compliance issue, further increasing the risk.
Despite approving financial results and committee reconstitutions, the announcement highlights significant negative developments including ongoing insolvency proceedings, SARFAESI Act enforcement actions, and a vacant Company Secretary position leading to non-compliance. The company also reported losses for the quarter.
Astron Paper & Board Mill Limited announced the outcome of its Board Meeting held on February 13, 2026. The Board approved the Un-Audited Financial Results (Standalone and Consolidated) for the quarter ended December 31, 2025, along with the Statement of Assets and Liabilities. The Statutory Auditors, M/s H K Shah & Co., issued unmodified Limited Review Reports for these results.
The Board also approved a proposal to seek shareholder approval via Postal Ballot for the ratification of Ms. Jankiben Patel's appointment as an Independent Director and the appointment of M/s H K Shah & Co. as Statutory Auditors for FY 2025-26 to fill a casual vacancy. Detailed communication regarding the Postal Ballot Notice and e-voting will be provided separately.
Furthermore, the Board approved the reconstitution of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders’ Relationship Committee with immediate effect. The company disclosed material developments, including ongoing proceedings under the Insolvency and Bankruptcy Code, 2016, and enforcement actions under the SARFAESI Act, 2002, leading to symbolic possession of certain assets by secured lenders. It was also noted that the position of Company Secretary remains vacant, resulting in non-compliance.
The financial results for the quarter ended December 31, 2025, showed a Revenue from Operations of ₹144.71 Lakhs for both standalone and consolidated figures. The net loss after other comprehensive income for the period was ₹445.64 Lakhs (standalone) and ₹505.52 Lakhs (consolidated). The Basic EPS stood at ₹0.96 (standalone) and ₹-1.09 (consolidated). The meeting commenced at 04:15 P.M. and concluded at 04:45 P.M.
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Astron Paper & Board Mill Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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