Astron Paper & Board Mill Ltd Approves Financial Results Amid Insolvency Proceedings
Astron Paper & Board Mill Limited has formally approved its Audited Financial Results for the Quarter and Year ended March 31, 2026. The approval was noted by the Insolvency Resolution Professional (IRP) during a meeting held on May 30, 2026.The company remains under the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016.
Audit Report Highlights Disclaimer of Opinion
While the IRP approved the financial results as per Indian Accounting Standards (Ind AS), the Statutory Auditors, M/s. H K Shah & Co., issued their report with a Disclaimer of Opinion regarding the financial results for the period ending March 31, 2026.The auditors cited multiple material issues leading to the disclaimer, including:
- Bank Loans and Defaults: Outstanding dues payable to banks as of March 31, 2026, totaled Rs. 87.61 crores. Given that all bank loan accounts were declared NPA during the Financial year 2024-25, and considering the defaults and initiation of recovery proceedings under the SARFAESI Act, the auditors could not determine the consequences of the default status on the financial results.
- Operational Status: The company's plants at Halvad and Bhuj have been non-operational since 2024, resulting in substantial cash losses, non-utilization of production capacity, and a negative impact on net worth.
- Going Concern Status: The auditors concluded that the going concern status of the company has been substantially and materially adversely affected.
- Accountings Issues: Concerns were raised regarding the lack of provision for doubtful debts on trade receivables, failure to account for recovered custom duties and liabilities related to imported goods, and inadequate valuation of inventory and Property, Plant & Equipment (PPE) due to non-operational status.
Financial Performance Snapshot (Lakhs)
The company presented audited financial statements for the Quarter/Year ended March 31, 2026. The summarized results include the following major figures:| Particulars | Q Ended Mar-26 (Audited) | Q Ended Dec-25 (Unaudited) | Q Ended Mar-25 (Audited) | Year Ended Mar-26 (Audited) | Year Ended Mar-25 (Audited) |
|---|---|---|---|---|---|
| Revenue From Operations | 6.69 | 144.71 | 88.34 | 279.28 | 9,622.78 |
| Total Revenue | 6.94 | 144.71 | 99.39 | 279.66 | 9,670.12 |
| Total Expenses | 618.05 | 650.22 | 827.59 | 2,397.78 | 14,936.47 |
| Profit Before Tax | -611.12 | -505.51 | -728.20 | -2,118.13 | -5,266.35 |
| Net Profit for the Period | -611.12 | -505.51 | -1,139.13 | -2,118.13 | -5,671.01 |
Consolidated Balance Sheet Overview (Lacs)
The consolidated financial statements provided an overview of the group's financial position, comparing March 31, 2026, and March 31, 2025.| Particulars | As at 31 Mar 2026 (Audited) | As at 31 Mar 2025 (Audited) |
|---|---|---|
| Total Assets | 20,747.11 | 22,018.35 |
| Total Equity | 8,038.38 | 9,983.67 |
| Total Liabilities | 12,708.73 | 12,034.68 |
| Debt to Equity Ratio | 0.94 | 1.17 |
Key Financial Details: Assets and Liabilities
The statements of assets and liabilities reflected several significant changes and exposures:| Item | As at 31 Mar 2026 (Audited) | As at 31 Mar 2025 (Audited) |
|---|---|---|
| Total Current Assets | 1,222.04 | 1,250.43 |
| Inventories | 1,241.89 | 1,463.60 |
| Trade Receivables | 1,990.92 | 2,038.10 |
| Total Assets | 20,747.11 | 22,018.35 |
| Total Current Liabilities | 10,905.33 | 10,317.06 |
| Non-Current Borrowings | 1,770.10 | 1,661.27 |
| Total Equity | 8,038.38 | 9,983.67 |
ASTRON Stock Price Movement
As of 3:28 PM, shares of Astron Paper & Board Mill Limited are slipping by 0.51% in live trading, currently priced at ₹3.94. The stock saw a trading volume of 15,091 shares during the session, indicating selling pressure across the board.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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