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Astron Multigrain IPO
Astron Multigrain Ltd
₹2,52,000 /2000 sharesMinimum Investment
Astron Multigrain IPO Details
| Bidding dates | Minimum investment | Lot size | Price range |
|---|---|---|---|
| 1 Dec ‘25 - 3 Dec ‘25 | ₹2,52,000 | 2,000 | ₹63 - ₹63 |
| Issue size | IPO doc | Tentative allotment date | Tentative listing date |
|---|---|---|---|
| 18.40 Cr | RHP PDF | 04 Dec ‘25 | 08 Dec ‘25 |
| Face value |
|---|
| 10 |
About Astron Multigrain
Founded in
2018
MD/CEO
Mr Jenish Parshottambhai Khunt
Parent organisation
Astron Multigrain Ltd
Strengths & Risks of Astron Multigrain
Strengths
Risks
The company claims to benefit from large-scale manufacturing, which reduces per-unit production costs. Higher production volumes allow them to negotiate better terms with suppliers, optimise machinery usage, and spread fixed costs over a wider base. They also claim that automation in key processes helps lower labour expenses and minimise waste.
Astron Multigrain operates in a category where consumers prefer familiar and reliable brands, and the company claims to have built recognition for its “Astron Swagy” products. Its ability to maintain consistent taste and product quality has contributed to repeat consumption. The company states that this consistency has supported stronger brand recall in the regions where it operates.
Astron Multigrain primarily supplies to super stockists in Gujarat, Madhya Pradesh, Maharashtra, and Bihar. The company claims that these long-standing relationships enable coverage across urban, semi-urban, and rural areas, including locations that may be difficult to serve directly. This model supports accessibility for small retailers such as kirana stores and local shops.
The company is ISO 22000:2018 certified for its food safety management systems. Additionally, it holds certifications from the Food Safety and Standards Authority of India (FSSAI) and Hazard Analysis and Critical Control Points (HACCP).
The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 19.49 crore in FY23 to Rs 25.89 crore in FY24 and Rs 33.90 crore in FY25. PAT increased from Rs 1.24 crore in FY23 to Rs 1.98 crore in FY24 and Rs 2.31 crore in FY25.
The top customer accounted for Rs 6.77 crore (19.97 percent) of the company’s revenue in FY25, Rs 4.69 crore (18.12 percent) in FY24, and Rs 6.52 crore (33.47 percent) in FY23. Failure to retain this client, secure new ones, or maintain historical business volumes could adversely affect the company’s revenue and financial performance.
The top supplier accounted for Rs 7.04 crore (25.58 percent) of the company’s total purchases in FY25, Rs 3.31 crore (15.77 percent) in FY24, and Rs 7.98 crore (48.35 percent) in FY23. The company does not enter into long-term supply agreements, making it dependent on spot-market pricing. Any disruption in supply from this vendor could adversely affect the company’s procurement, production continuity, and overall operational performance.
The company, its directors, key managerial personnel, and senior management are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
Gujarat accounted for Rs 30.99 crore (91.41 percent) of the company’s revenue in FY25, Rs 19.28 crore (74.46 percent) in FY24, and Rs 12.93 crore (66.31 percent) in FY23. Any disruption in Gujarat, or any decline in demand from customers in the state could hurt the company’s operations, revenue stability, and overall financial condition.
The company recorded negative cash flow from investing activities amounting to Rs 0.02 crore in FY25, Rs 0.68 crore in FY24, and Rs 1.25 crore in FY23. This was primarily due to purchases of property, plant, and equipment. Additionally, negative cash flow from financing activities amounted to Rs 1.14 crore in FY25 and Rs 1.18 crore in FY23, driven by reductions in long-term borrowings and interest payments. Sustained negative cash flows may limit the company’s ability to fund capital expenditure, manage debt obligations, or support future expansion, potentially impacting its liquidity and financial stability.
Astron Multigrain operates in the low-cost instant noodles segment, where consumers are highly sensitive to even small price increases. If the company raises prices due to higher raw material costs, inflation, or increased distribution expenses, consumers may shift to competing brands that offer lower or more stable pricing. This could result in reduced sales volumes, loss of market share, and pressure on profitability.
Astron Multigrain derives the majority of its revenue from instant noodles. It accounted for Rs 34.50 crore (89.95 percent) of the company’s revenue in FY25, Rs 20.88 crore (80.63 percent) in FY24, and Rs 17.19 crore (88.21 percent) in FY23. This concentration exposes the company to risks arising from shifts in consumer preferences, regulatory changes, or competitive pressure within the instant noodle market. Any downturn in this segment could affect the company’s financial performance.
As of FY25, the company had outstanding financial indebtedness of Rs 4.28 crore. Failure to service or repay these loans can harm the company’s operations and financial position.
Astron Multigrain Financials
*All values are in Rs. Cr
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Application Details of Astron Multigrain IPO
| Apply as | Price band | Apply Range | Lot size |
|---|---|---|---|
| Individual investor | ₹63 - 63 | ₹2 - 5 Lakh | 2000 |
For Astron Multigrain IPO, eligible investors can apply as Individual investor.