Astron Paper & Board Mill Limited announced its unaudited financial results for the third quarter of FY26 ended 31st December 2025, reporting continued losses amid operational challenges. The company's Board of Directors, meeting on 13th February 2026, approved the quarterly results along with several key corporate governance decisions.

Financial Performance Overview

The company reported a net loss of ₹445.64 lakhs for Q3FY26, showing improvement from the ₹2,618.71 lakhs loss recorded in Q3FY25. Revenue from operations stood at ₹144.71 lakhs compared to ₹136.05 lakhs in the corresponding quarter of the previous year.

Nine-Month Performance Analysis

For the nine months ended 31st December 2025, the company's financial position showed significant deterioration compared to the previous year. Total revenue declined substantially to ₹272.72 lakhs from ₹9,542.56 lakhs in the corresponding nine-month period of FY25.

Corporate Governance Initiatives

The Board approved a postal ballot to seek shareholder approval for two critical appointments:

• Independent Director Ratification: Confirmation of Ms. Jankiben Patel (DIN: 09183490) as Independent Director
• Statutory Auditor Appointment: M/s H K Shah & Co., Chartered Accountants (FRN: 109583W) for FY 2025-26 to fill casual vacancy

The company will provide remote e-voting facilities to shareholders, with detailed postal ballot notices to be communicated separately.

Committee Reconstitution

The Board approved immediate reconstitution of key committees with new compositions:

Audit Committee:

• Mr. Sudhir Omprakash Maheshwari (Chairperson) - Independent Director
• Ms. Janki Patel (Member) - Independent Director
• Mr. Kiritbhai Ghanshyambhai Patel (Member) - Executive Director

Nomination and Remuneration Committee:

• Ms. Janki Patel (Chairperson) - Independent Director
• Mr. Sudhir Omprakash Maheshwari (Member) - Independent Director

Material Disclosures and Challenges

The company disclosed several material developments affecting its operations:

• Insolvency Proceedings: The company is undergoing proceedings under the Insolvency and Bankruptcy Code, 2016
• Asset Possession: Secured lenders have taken symbolic possession of certain company assets under the SARFAESI Act, 2002
• Compliance Gap: The Company Secretary position remains vacant, resulting in non-compliance with Section 203 of the Companies Act, 2013

The statutory auditors M/s H K Shah & Co., Chartered Accountants, issued Limited Review Reports with unmodified opinions on both standalone and consolidated unaudited financial results. The Board meeting was conducted from 04:15 P.M. to 04:45 P.M. on 13th February 2026, with the company maintaining its paid-up equity capital at ₹4,650.00 lakhs throughout the reporting periods.

Astron Paper & Board Mill Limited has informed stock exchanges about an upcoming board meeting scheduled for February 13, 2026, in compliance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting will address critical financial and governance matters requiring board approval.

Board Meeting Agenda

The board meeting will focus on two primary matters of significant importance to the company and its stakeholders.

Extraordinary General Meeting Matters

The board will deliberate on convening an EGM to seek shareholders' approval for two critical appointments that require regulatory compliance within specified timeframes.

Independent Director Ratification

The EGM will seek shareholders' approval for the ratification and confirmation of Ms. Jankiben Patel's appointment as Independent Director. Key details include:

Statutory Auditor Appointment

Shareholders will also be asked to approve the appointment of new statutory auditors to fill a casual vacancy for the financial year 2025-26.

Trading Window Status

The company has maintained its trading window closure as part of standard regulatory compliance procedures. The trading window, which has been closed effective January 1, 2026, will remain closed until 48 hours after the declaration of financial results. This measure ensures compliance with insider trading regulations during the period leading up to and immediately following the announcement of quarterly financial performance.

Regulatory Compliance

The board meeting notification demonstrates the company's adherence to regulatory requirements under SEBI regulations. Both the Independent Director and Statutory Auditor appointments require shareholders' approval within three months of their respective appointments, highlighting the company's commitment to proper governance procedures and regulatory compliance in corporate appointments.