Key Quantitative Figures

  • Total Income: ₹4,859.98 lakhs (FY26) vs ₹3,391.55 lakhs (FY25) - 43.3% growth
  • Profit After Tax: ₹345.00 lakhs (FY26) vs ₹231.98 lakhs (FY25) - 48.7% growth
  • Earnings Per Share: ₹5.51 (FY26) vs ₹3.71 (FY25)
  • Net Worth: ₹2,709.15 lakhs (FY26) vs ₹1,053.90 lakhs (FY25)
  • IPO Proceeds: ₹18.40 crore raised on December 04, 2025
  • IPO Utilization: ₹15.30 crore utilized, ₹3.10 crore unutilized in bank deposits
  • MD Remuneration: Proposed increase from ₹1,00,000 to ₹2,00,000 per month effective April 01, 2026
  • Audit Fee: ₹3,00,000 per annum for new auditors

Dates of Action

  • AGM Date: Friday, September 25, 2026 at 11:30 A.M. IST
  • Remote e-voting period: September 21, 2026 (09:00 A.M.) to September 24, 2026 (05:00 P.M.)
  • Cut-off date: September 18, 2026
  • Auditor Resignation: September 01, 2026
  • New Auditor Appointment: September 02, 2026
  • IPO Dates: Opening - December 01, 2025, Closing - December 03, 2025, Listing - December 08, 2025

Parties Involved

  • Statutory Auditors: M/s. Piyush Kothari & Associates (resigned) replaced by M/s. Babubhai Patel & Associates
  • Secretarial Auditor: M/s. B. S. Vyas & Associates
  • Internal Auditors: M/s. D. K. Makwana & Co.
  • RTA: Bigshare Services Private Limited
  • Bankers: State Bank of India, IndusInd Bank Limited
  • Scrutinizer: M/s. B. S. Vyas & Associates

Business Operations

The company is engaged in manufacturing instant noodles (under own brand "Astron's Swagy" and contract manufacturing) and papad. Manufacturing facility located at Plot No. 17 to 21, Near Ram Hotel, Village: Chordi, Taluka: Gondal, District: Rajkot, Gujarat with installed capacity of 5,110 MTPA, expected to increase to 6,910 MTPA post-IPO capacity expansion.

Capital Structure Impact

  • Pre-IPO capital: ₹6.26 crore (62,60,000 equity shares of ₹10 each)
  • Post-IPO capital: ₹8.60 crore (86,00,000 equity shares of ₹10 each)
  • Fresh issue: 23,40,000 equity shares aggregating ₹14.74 crore
  • Offer for sale: 5,80,000 equity shares by promoter aggregating ₹3.65 crore
  • Promoter holding: 63.14% (Mr. Jenish Parshottambhai Khunt)

IPO Proceeds Utilization

| Object | Disclosed Amount | Actual Utilized | Unutilized |

| Funding Capital Expenditure | ₹4.46 crore | ₹4.46 crore | NIL |

| Working Capital Requirements | ₹5.65 crore | ₹3.81 crore | ₹1.84 crore |

| General Corporate Purposes | ₹2.14 crore | ₹1.40 crore | ₹0.74 crore |

| Issue Expenses | ₹2.50 crore | ₹1.98 crore | ₹0.52 crore |

| Offer for Sale | ₹3.65 crore | ₹3.65 crore | NIL |

Auditor Change Details

M/s. Piyush Kothari & Associates resigned as statutory auditors effective September 01, 2026, after completing the FY26 audit (report dated May 30, 2026). The Board appointed M/s. Babubhai Patel & Associates on September 02, 2026 to fill the casual vacancy, subject to shareholder approval at the AGM. The new auditors proposed for 5-year term until conclusion of 13th AGM at same fee of ₹3,00,000 per annum.

Resolutions for Approval

Ordinary Business:

1. Adoption of audited financial statements for FY26

2. Re-appointment of Mrs. Poonam Jenish Khoont (DIN: 08190913) who retires by rotation

3. Appointment of M/s. Babubhai Patel & Associates as statutory auditors for 5 years

Special Business:

4. Confirmation of M/s. Babubhai Patel & Associates appointment to fill casual vacancy

5. Borrowing limits up to ₹100 crore under Section 180(1)(c)

6. Creation of charges/mortgages up to ₹100 crore under Section 180(1)(a)

7. Loans/guarantees/security up to ₹100 crore under Section 185

8. Loans/guarantees/securities/investments up to ₹100 crore under Section 186

9. Fixation of remuneration for Mr. Jenish Parshottambhai Khunt (MD) at ₹2,00,000/month

Financial Performance Highlights

The company showed significant improvement in operational performance:

  • Revenue from operations: ₹4,840.34 lakhs (42.8% growth)
  • Cost of material consumed: ₹3,922.95 lakhs
  • Employee benefits expense: ₹42.13 lakhs
  • Finance costs: ₹17.78 lakhs
  • Depreciation: ₹61.87 lakhs
  • Current tax: ₹110.21 lakhs

Corporate Governance

  • Board comprises 4 directors (2 executive, 2 independent)
  • Committees formed: Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee
  • 13 board meetings held during FY26
  • Company has 7 permanent employees
  • Median employee remuneration: ₹1,36,920

Voting Arrangements

AGM to be held through Video Conferencing/Other Audio Visual Means in compliance with MCA circulars. Remote e-voting facility provided through Bigshare Services Private Limited. Members can vote electronically from September 21-24, 2026.