Astron MultigrainShare price, financial results, shareholding and management
- Market cap
- ₹15 cr
- Stock P/E
- 4.2peers 20.9
- Book value
- ₹31.5
- Price to book
- 0.54
- EV / operating profit
- -
- Market cap to sales
- 0.30
- ROCE · FY26
- 21.6%
- ROE · FY26
- 18.3%
- ROE, 3-year average
- 25.3%
- Operating margin · FY26
- 10.8%peers 10.3%
- Sales growth, 3 years
- 35.4%
- Profit growth, 3 years
- 40.6%
- Debt to equity
- 0.09peers 0.58
- Borrowings
- ₹2.5 cr
- Interest cover
- 26.6×
- Cash from business / op. profit
- -142%
- Debtor days
- 127
- Pledged
- 0.00%
- Promoter holding
- 66.05%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 614
- 52-week high / low
- ₹50 / ₹14
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Astron Multigrain share price chart
Close on 6 Nov 2026 · +0.48% on the day · Vol 18,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -0.2%
- 3 months
- +5.8%
- 6 months
- +4.1%
- Traded a day, 20 days
- ₹0.09 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +43% | +49% |
| 3 years, a year | +35% | +41% |
| Latest half, H2 FY26 | +76% | -4% |
About Astron Multigrain: business, products and customers
Astron Multigrain makes low priced instant noodles at a plant near Rajkot, under its own name Astron's Swagy and for another snack company, and also makes papad. Its shares trade on BSE SME.
Astron was set up in 2018 by Jenish Parshottambhai Khunt and Poonam Jenish Khoont. From maida, palm oil and seasoning it makes fried instant noodles in one flavour, Mast Masala, sold in packs at ₹5 and ₹10, plus papad made to order.
It earns money in two ways. Under its own brand it purchases all the materials and supplies super stockists who pass the noodles on to wholesalers and village and town shops, mostly in Gujarat; under contract manufacturing it makes noodles for Gokul Snacks, which markets them under its own name and sometimes supplies the raw material, so that work brings lower sales per tonne but needs no marketing. Because the product is priced low and fixed, margins depend on wheat flour, palm oil and packaging costs.
Read more about the business
The company listed in December 2025 and used most of the IPO money on new machinery that it says will lift capacity by about a third, and on working capital. The offer document names the large brands it competes with on the same shelf: Nestle India's Maggi, ITC's Sunfeast Yippee, Hindustan Unilever's Knorr, Patanjali, Nissin's Top Ramen, Chaudhary Group's Wai Wai, Marico's Saffola Oodles and Capital Foods' Ching's Secret, along with cheaper state brands.
From the offer document (Prospectus, November 2025) and the annual report for FY26.
Read the deeper study ↓In its favour
- Sales have grown fast: 35% a year over three years.
- It earns a high return on the money it uses: ROCE 22% in FY26.
- It has little debt for its size: debt to equity 0.09.
- The promoters own a large part of the company: 66.05%.
To watch
- Whether the new machinery lifts capacity to 6,910 tonnes a year and gets used (Annual report FY26, p.48).
- Collection of the ₹16.9 cr owed by customers at March 2026 (Annual report FY26, p.65).
- Any loans or guarantees to entities in which directors are interested, under the ₹100 cr limit put to the September 2026 meeting (Annual report FY26, p.19).
- Use of the ₹3.1 cr of IPO money still unspent at March 2026 (Annual report FY26, p.29).
- Customers take longer to pay than before: 127 days in FY26, against 14 in FY21.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Astron Multigrain revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Astron Multigrain half-yearly results
SME companies report every six months · ₹ crore
| H2FY25 | H2FY26 | |
|---|---|---|
| Sales | 19.53 | 34.34 |
| Expenses | 16.48 | 31.73 |
| Operating profit | 3.05 | 2.62 |
| OPM | 15.6% | 7.6% |
| Interest | 0.21 | 0.01 |
| Depreciation | 0.28 | 0.31 |
| Profit before tax | 2.57 | 2.48 |
| Net profit | 1.94 | 1.86 |
Astron Multigrain profit and loss
Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 10.15 | 12.36 | 19.49 | 25.90 | 33.91 | 48.40 |
| Expenses | 9.21 | 11.24 | 16.88 | 22.79 | 29.83 | 43.19 |
| Operating profit | 0.94 | 1.12 | 2.61 | 3.11 | 4.08 | 5.21 |
| OPM | 9.3% | 9.1% | 13.4% | 12.0% | 12.0% | 10.8% |
| Other income | -0.39 | 0.01 | 0.01 | 0.61 | 0.01 | 0.20 |
| Interest | 0.35 | 0.42 | 0.62 | 0.61 | 0.44 | 0.18 |
| Depreciation | 0.34 | 0.45 | 0.48 | 0.55 | 0.55 | 0.62 |
| Profit before tax | -0.14 | 0.26 | 1.52 | 2.56 | 3.10 | 4.61 |
| Tax rate | 57.1% | 61.5% | 18.4% | 22.7% | 25.2% | 25.2% |
| Net profit | -0.22 | 0.10 | 1.24 | 1.98 | 2.32 | 3.45 |
| EPS ₹ | -1.26 | 0.38 | 4.68 | 3.16 | 3.71 | 4.93 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
A tax rate above 60% or below zero (FY22) comes from tax charged on a small or negative profit, as reported.
Earnings per share before FY23 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Astron Multigrain profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Operating margin | 9.3% | 9.1% | 13.4% | 12.0% | 12.0% | 10.8% |
| Tax rate | 57.1% | 61.5% | 18.4% | 22.7% | 25.2% | 25.2% |
| ROCE | · | 8.5% | 22.6% | 26.7% | 25.2% | 21.6% |
| ROE | · | 4.9% | 39.0% | 32.9% | 24.8% | 18.3% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Astron Multigrain debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It cut its borrowings last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Astron Multigrain balance sheet
At each 31 March · ₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 1.75 | 2.65 | 2.65 | 6.26 | 6.26 | 8.60 |
| Reserves | -0.21 | -0.11 | 1.17 | 1.94 | 4.28 | 18.49 |
| Net worth | 1.54 | 2.54 | 3.82 | 8.20 | 10.54 | 27.09 |
| Borrowings | 6.09 | 5.92 | 6.70 | 5.02 | 4.33 | 2.45 |
| Other liabilities | 1.80 | 4.90 | 4.31 | 4.50 | 6.93 | 7.11 |
| Total liabilities | 9.43 | 13.36 | 14.83 | 17.72 | 21.80 | 36.65 |
| Fixed assets | 6.57 | 6.17 | 6.95 | 7.09 | 6.57 | 9.60 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 2.86 | 7.19 | 7.88 | 10.63 | 15.23 | 27.05 |
Astron Multigrain cash flow
₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | 0.83 | -0.13 | 2.74 | 0.69 | 0.88 | -7.39 |
| Cash from investing | -1.89 | -0.04 | -1.25 | -0.68 | -0.02 | -3.52 |
| Cash from financing | 1.19 | 0.35 | -1.18 | 0 | -1.17 | 11.07 |
| Net cash flow | 0.13 | 0.18 | 0.31 | 0.01 | -0.31 | 0.16 |
Working capital
Days
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 14 | 51 | 21 | 53 | 80 | 127 |
| Inventory days | 95 | 171 | 139 | 104 | 90 | 49 |
| Days payable | 42 | 155 | 75 | 53 | 64 | 38 |
| Cash conversion cycle | 66 | 67 | 85 | 104 | 107 | 138 |
| Working capital days | -40 | 4 | -1 | 34 | 51 | 112 |
Astron Multigrain peers and competitors
Listed SME companies in the same industryBy sales, Astron Multigrain is number 38 of the 43 listed SME companies in food products.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Italian Edibles | 40 | 9.9 | 99.5 | 4 | 8.1% | 0.79 |
| Dindigul Farm Product | 78 | 20.9 | 90 | 3.7 | 8.6% | 0.47 |
| Essex Marine | 73 | 11.5 | 60.7 | 6.4 | 12.0% | 0.55 |
| Q&T Foods | 23 | 4.3 | 54.8 | 5.2 | 15.5% | 0.90 |
| Hoac Foods India | 481 | 109.2 | 50.1 | 4.4 | 13.8% | 0.24 |
| Astron Multigrain | 15 | 4.2 | 48.4 | 3.5 | 10.8% | 0.09 |
| Papadmalji Agro Foods | - | - | 33.5 | 5.2 | 25.2% | 0.62 |
| Tapi Fruit Processing | 19 | - | 28.5 | -1.7 | 6.0% | 1.07 |
| Jay Kailash Namkeen | 26 | 21.6 | 17.5 | 1.2 | 18.3% | 0.77 |
| Chothani Foods | 11 | 97.9 | 8.3 | 0.1 | 4.9% | 0.10 |
| Artemis ADR Marketplace | 61 | - | 0.4 | -0.8 | -178.9% | 0.01 |
| Median of the 10 others | 40 | 20.9 | 41.8 | 3.9 | 10.3% | 0.58 |
Astron Multigrain shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders is about the same.
Astron Multigrain shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Dec 25 | Mar 26 | |
|---|---|---|
| Promoters | 66.05% | 66.05% |
| Number of shareholders | 648 | 614 |
Astron Multigrain study: the business from its own documents
Read from 3 of the company's own documentsAstron Multigrain key facts from the filings
Each figure with the document it comes from
- FY26 sales
- ₹48.4 cr
- Up from ₹33.9 cr in FY25; profit after tax rose from ₹2.3 cr to ₹3.5 cr.Annual report FY26, p.27 to 28
- Own brand share
- 71%
- Share of sales under Astron's Swagy from April to October 2025; the rest was contract work for Gokul Snacks.Offer document, p.121 and p.123
- Top five customers
- 89%
- Share of sales from April to October 2025, up from 43% in FY25; the largest single customer took 29%.Offer document, p.126
- Capacity use
- 43%
- Of 5,110 tonnes a year from April to October 2025, against 68% in FY25 and 92% in FY23.Offer document, p.128
- New machinery
- ₹4.5 cr
- IPO money spent on plant in FY26, which the company expects to raise capacity to 6,910 tonnes a year.Annual report FY26, p.29 and p.48
Show 5 more facts
- IPO
- ₹18.4 cr
- 29,20,000 shares at ₹63 in December 2025, of which ₹3.7 cr was a sale by the promoter; ₹3.1 cr was still unspent at March 2026.Annual report FY26, p.28 to 29
- Money owed by customers
- ₹16.9 cr
- Receivables at March 2026, up from ₹7.5 cr a year earlier; cash from operations was a ₹7.4 cr outflow in FY26.Annual report FY26, p.65 and p.67
- Gujarat share
- 94%
- Share of sales in Gujarat from April to October 2025; the company does not export.Offer document, p.124; Annual report FY26, p.48
- Price point
- ₹5 a pack
- MRP of the 25 gram pack; the 50 gram pack is priced at ₹10.Offer document, p.124
- Auditor change
- Casual vacancy
- Piyush Kothari & Associates resigned as statutory auditor; Babubhai Patel & Associates was appointed from 2 September 2026.Annual report FY26, p.4 and p.16
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says the ₹4.46 cr of machinery bought with IPO money is expected to raise installed capacity by 1,800 tonnes to 6,910 tonnes a year. It plans to add flavours using its existing plant and to reach more buyers through quick commerce and modern retail. At the September 2026 meeting shareholders were asked to approve fresh borrowing limits for the expansion and a limit of up to ₹100 cr for loans, guarantees or securities to entities in which directors are interested.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Astron earns its money making cheap noodles for village and town shops and for one snack company, from a single plant.
Its weak spots are a few large customers, sales almost all in one state, and money owed by customers that grew much faster than sales.
WatchCan it set its own prices?No. It is priced at the lowest price points in a crowded market and its own documents call the segment price sensitive with low margins.
WatchHow strong is it against rivals?It is a small regional maker up against national and global brands with far bigger distribution.
WatchWho are its customers?A few super stockists and one contract client take nearly all of its output.
WatchDoes it need a lot of money?The plant is modest, but customer credit grew sharply in the latest year and ate the cash from operations.
AverageCan it keep finding new work?Sales have grown every year and new machines add capacity, but the plant was less than half used before the expansion.
AverageDo good and bad years swing a lot?Demand for cheap noodles holds up in most years, but flour and palm oil prices and the loss or gain of one large customer can move results.
Who runs Astron Multigrain?
Promoters, directors and officers; tap a name for the background
JPJenish Parshottambhai KhuntPromoter, Chairman and Managing Director
Completed matriculation and has more than seven years in ready to eat food; with the company since its start, overseeing marketing, human resources, sales, purchase and accounts.
Offer document, p.121 and p.156; Annual report FY26, p.29PJPoonam Jenish KhoontPromoter and Non-Executive Director
Holds a Bachelor of Pharmacy from Gujarat Technological University and has more than five years in ready to eat food, overseeing production, quality assurance, storage and maintenance. The annual report states a spousal relationship with Jenish Parshottambhai Khunt.
Offer document, p.156; Annual report FY26, p.31HDHardik Dilipbhai GondaliyaChief Financial Officer
Appointed Chief Financial Officer on 21 July 2025.
Annual report FY26, p.4 and p.30SGShivani GargCompany Secretary and Compliance Officer
An associate member of the Institute of Company Secretaries, appointed on 1 August 2025.
Annual report FY26, p.4 and p.30DLDrashti Laxmikant SolankiIndependent Director
Holds commerce and law degrees from Gujarat University and is a qualified Company Secretary with more than nine years in secretarial and compliance work.
Offer document, p.156SPSiddharth Parshottambhai GajraIndependent Director
Appointed for five years from 1 August 2025; chairs the audit committee.
Annual report FY26, p.4 and p.30Astron Multigrain latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹34.3 cr (+76%), net profit ₹1.9 cr (-4%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 66.05%.
Astron Multigrain announcements
3 on record, latest first; each opens the filing on the exchange
Astron Multigrain annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Astron Multigrain share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Astron Multigrain's data · 7
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (86,00,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY21 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Astron Multigrain
What does Astron Multigrain do?
Astron Multigrain makes low priced instant noodles at a plant near Rajkot, under its own name Astron's Swagy and for another snack company, and also makes papad. Its shares trade on BSE SME.
What is the share price of Astron Multigrain?
₹16.9 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Astron Multigrain?
₹15 cr at the close on 6 Nov 2026, on 86,00,000 shares.
What is the P/E of Astron Multigrain?
4.2 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Astron Multigrain's revenue and profit?
Revenue ₹48 cr and profit after tax ₹3 cr in FY26.
Who are the promoters of Astron Multigrain?
Jenish Parshottambhai Khunt, Poonam Jenish Khoont; promoters held 66.05% at 31 March 2026.
What is Astron Multigrain's website?
www.astronmultigrain.co.in
More SME companies like Astron Multigrain
Other listed SME companies in food products, the closest in size first, each read from its own documents.
- Sonalis Consumer ProductsSONALIS · BSE SME · Food ProductsMarket cap ₹14 cr
- Tapi Fruit ProcessingTAPIFRUIT · NSE Emerge · Food Products · listed 2022Market cap ₹18 cr
- Chothani FoodsCHOTHANI · BSE SME · Food ProductsMarket cap ₹11 cr
- Q&T FoodsQTFOODS · BSE SME · Food ProductsMarket cap ₹22 cr
- Jay Kailash NamkeenJAYKAILASH · BSE SME · Food ProductsMarket cap ₹23 cr
- Abram FoodABRFL · BSE SME · Food ProductsMarket cap ₹24 cr
Built from 2 annual reports, 1 offer document, 3 exchange announcements, 2 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.