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Antarctica Limited (ANTGRAPHIC)

₹0.68 +0.00% last close, 16 Oct

📊 NSE: ANTGRAPHIC 🏢 Packaging 📢 Latest filing: 29 Sep 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Antarctica's revenue was ₹40.4 Cr (+709.9% year on year, +32.6% on the previous quarter), and net profit ₹0.6 Cr (-20.2% year on year); the operating margin was 1.5%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹40.4	+709.9%	+32.6%
Operating profit	₹0.6	-41.8%	from loss
Net profit	₹0.6	-20.2%	from loss
EPS (₹)	0.04	+0.0%	from loss
Operating margin	1.5%	—	—

Full quarterly financials → Results calendar →

ANTGRAPHIC delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 76.9% of the ANTGRAPHIC shares traded on NSE were taken to delivery, against the stock's own 20-session average of 75.34%. That is close to its usual level. Turnover was only ₹1 lakh, so a handful of trades can move this figure.

76.9%Delivery, 16 Oct

75.34%Own 20-session average

0.7×Volume vs its average

₹0.68NSE close · +0.00%

Delivery in the last 5 sessions: 89.2% · 54.8% · 97.0% · 67.0% · 76.9%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Shareholders Reject Section 185 and 186 Loan Proposals at Antarctica Limited AGM

🔵 WATCH ⭐ 4/10

ROUTINE 📅 29 Sep 2026, 02:54 PM

Antarctica Limited reported the voting results of its 34th Annual General Meeting held on September 28, 2026. While routine resolutions such as financial statement adoption and auditor appointments passed, shareholders rejected special resolutions under Section 185 (advancing loans/guarantees) and Section 186 (increasing threshold for loans/investments) of the Companies Act, 2013, with only 69.02% votes in favor against the required 75%. Overall voter turnout was extremely low at 2.17% of total outstanding shares (3,360,522 votes polled out of 155,009,600 shares), with promoter participation standing at 0%. An ordinary resolution enabling related party transactions up to ₹50 Crore was approved with 75.48% favor.

Special resolutions on inter-corporate loans under Section 185 and Section 186 failed, receiving only 69.0157% votes in favor
Turnout was extremely low, with only 2.1679% of total shares polled (3,360,522 out of 155,009,600 shares)
Promoter group polled 0 votes across all resolutions, holding 1,480,567 shares
Approval for related party transactions up to ₹50 Crores passed with 75.4766% favorable votes
Appointment of M/s Vishakha Agrawal & Associates as Secretarial Auditor for 5 years (FY27 to FY31) approved with 99.3122% votes

💡 Track how the company plans to fund its operations or extend credit without the rejected Section 185 and 186 authorization, and monitor upcoming Q2 FY27 results.

Shareholders Reject Section 185 and 186 Loan Proposals at Antarctica Ltd 34th AGM

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 28 Sep 2026, 05:07 PM

Antarctica Limited announced the outcome of its 34th Annual General Meeting held on September 28, 2026. Significantly, shareholders voted against resolutions to advance loans or guarantees under Section 185 and to increase investment and loan limits under Section 186 of the Companies Act, 2013. However, shareholders approved raising the FPI/FII investment limit up to 49% of paid-up equity and approved material Related Party Transactions under Section 188. In addition, the financial statements for FY26 and the appointment of an Independent Director were passed.

Resolutions to provide loans/guarantees (Section 185) and increase threshold limits (Section 186) were Not Passed
Shareholders approved increasing the total FPI/FII shareholding limit up to 49% of paid-up equity
Approval granted for Related Party Transactions including Material Related Party Transactions under Section 188
Appointment of Mr. Mitkumar Dashrathbhai Chandel as Non-Executive Independent Director confirmed

💡 Track the upcoming scrutiny of voting results and scrutinizer reports on the exchanges to review the vote breakdown, particularly on the rejected lending proposals and approved related-party transactions.

Antarctica Limited Closes Trading Window From Oct 1, 2026 Ahead of Q2 Results

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 24 Sep 2026, 03:13 PM

Antarctica Limited has announced the closure of its trading window starting October 01, 2026, pursuant to SEBI Prohibition of Insider Trading Regulations. The restriction applies to designated persons, employees, and their immediate relatives. The window will remain shut until 48 hours following the declaration of unaudited standalone financial results for Q2 and H1 ended September 30, 2026. This is a standard compliance requirement preceding the quarterly earnings release.

Trading window closes effective October 01, 2026
Closure extends until 48 hours post declaration of Q2 and H1 results for period ending September 30, 2026
Applies to all designated persons, employees, specified persons, and immediate relatives under SEBI regulations

💡 Track the upcoming board meeting announcement date for the declaration of Q2 and H1 FY27 financial results.

Antarctica Appoints Mansi Kirankumar Shah as Company Secretary and Compliance Officer

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 09 Sep 2026, 04:55 PM

Antarctica Limited has announced the appointment of Ms. Mansi Kirankumar Shah (Membership No. A35697) as Company Secretary, Compliance Officer, and Key Managerial Personnel effective September 9, 2026. The appointment fills a casual vacancy following the resignation of the previous Company Secretary. Ms. Shah brings experience in corporate secretarial matters, SEBI LODR compliances, and corporate governance. The announcement represents a routine statutory compliance step without direct financial impact on the company's operations.

Appointment effective date: September 9, 2026
Designated as Company Secretary, Compliance Officer, and KMP under Section 203 of Companies Act, 2013
Appointed to fill casual vacancy caused by the resignation of the previous Company Secretary
ICSI Membership Number: A35697

💡 Track statutory reporting regularity and look ahead to upcoming quarterly financial disclosures for improvements in corporate governance and internal controls.

Antarctica Appoints Mansi Kirankumar Shah as CS and Compliance Officer Effective Sept 9, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 09 Sep 2026, 04:52 PM

Antarctica Limited has appointed Ms. Mansi Kirankumar Shah as the new Company Secretary and Compliance Officer (Key Managerial Personnel) effective September 9, 2026. The appointment fills a casual vacancy created by the resignation of the previous Company Secretary. The Board meeting approving the appointment took place on September 9, 2026, between 03:30 PM and 04:30 PM. This is a standard statutory compliance appointment with no direct financial impact.

Appointment of Ms. Mansi Kirankumar Shah (Membership No. A35697) as Company Secretary and Compliance Officer
Effective date of appointment approved as September 09, 2026
Appointment fills casual vacancy following previous CS resignation
Board meeting commenced at 03:30 PM and concluded at 04:30 PM on September 09, 2026

💡 Track statutory filings and corporate governance updates; this appointment is procedural to ensure regulatory compliance.

Antarctica Limited Issues Notice for 34th AGM Scheduled for September 28, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Sep 2026, 04:14 PM

Antarctica Limited has issued the notice for its 34th Annual General Meeting (AGM) to be conducted virtually on September 28, 2026. Key special resolutions include regularizing the appointment of Independent Director Mitkumar Chandel for a 5-year term, enabling loans and guarantees under Section 186 up to ₹100 Crores, and approving material related-party transactions up to ₹50 Crores. The company is also seeking shareholder approval to increase the foreign portfolio investor (FPI) holding limit up to 49% of paid-up share capital.

34th Annual General Meeting scheduled for September 28, 2026 via video conferencing.
Proposed approval for loans, guarantees, and securities under Section 186 up to a limit of ₹100 Crores.
Shareholder approval sought for material related party transactions up to an aggregate value of ₹50 Crores.
Resolution proposed to raise the aggregate FPI/FII investment limit up to 49% of paid-up equity share capital.
Appointment of Mitkumar Dashrathbhai Chandel as Non-Executive Independent Director for a 5-year term ending May 24, 2031.

💡 Track the voting results of the AGM on September 28, 2026, and monitor disclosures regarding related-party transactions given the ₹50 Crore proposed threshold relative to the company's ₹17 Crore net worth.

Antarctica Appoints Vishakha Agrawal & Associates as Secretarial Auditor for 5-Year Term

🟡 NEUTRAL ⭐ 2/10

MANAGEMENT 📅 05 Sep 2026, 11:09 AM

Antarctica Limited has appointed M/s. Vishakha Agrawal & Associates, Practicing Company Secretaries, as the company's Secretarial Auditor. The appointment was approved by the Board of Directors on September 04, 2026, following recommendations from the Nomination and Remuneration Committee and Audit Committee. The tenure is set for five consecutive financial years spanning FY 2025-26 through FY 2029-30, subject to shareholder approval at the upcoming Annual General Meeting.

Appointment of M/s. Vishakha Agrawal & Associates as Secretarial Auditor
Tenure defined for 5 consecutive years from FY 2025-26 to FY 2029-30
Board approval granted on September 04, 2026, subject to shareholder approval at ensuing AGM

💡 Track shareholder approval at the upcoming Annual General Meeting and review future secretarial audit reports for statutory compliance remarks.

Antarctica Limited Schedules 34th AGM on September 28, 2026; Book Closure from Sept 22-28

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Sep 2026, 11:03 AM

Antarctica Limited has announced the schedule for its 34th Annual General Meeting (AGM), to be held on September 28, 2026, at 12:00 PM via Video Conferencing / Other Audio Visual Means. The company's Register of Members and Share Transfer Books will remain closed from September 22, 2026, to September 28, 2026 (both days inclusive) for the purpose of the AGM. This is a standard annual regulatory intimation pursuant to SEBI Listing Regulations.

34th Annual General Meeting scheduled for Monday, September 28, 2026, at 12:00 P.M. via VC/OAVM
Share transfer books and register of members closed from September 22, 2026, to September 28, 2026
Filing submitted under Regulation 42 of SEBI (LODR) Regulations, 2015

💡 Track the upcoming AGM notice and resolutions for any key corporate updates, especially regarding internal controls, business pivot updates, and auditor disclosures.

Antarctica Limited Schedules 34th AGM on Sept 28, 2026; Remote E-Voting Cut-Off Sept 21

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 05 Sep 2026, 11:01 AM

Antarctica Limited has announced the schedule and remote e-voting details for its 34th Annual General Meeting (AGM) to be held on September 28, 2026. Shareholders holding shares as of the cut-off date of September 21, 2026, will be eligible to cast their votes electronically via CDSL. The remote e-voting window opens on September 25, 2026, and closes on September 27, 2026.

34th Annual General Meeting scheduled for September 28, 2026
Cut-off date for e-voting eligibility set for September 21, 2026
Remote e-voting window runs from September 25, 2026, to September 27, 2026
E-voting platform provided by CDSL with CS Vishakha Agrawal appointed as Scrutinizer

💡 Eligible shareholders can exercise voting rights on AGM resolutions between September 25 and September 27, 2026.

Antarctica Limited Approves 49% Foreign Investment Limit & Convenes 34th AGM on Sept 28

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 05 Sep 2026, 11:00 AM

Antarctica Limited's Board approved the notice and agenda for its 34th Annual General Meeting scheduled for September 28, 2026. Key proposals for shareholder approval include increasing the foreign investment limit (FPI/FII/FDI/NRI) up to 49% of paid-up capital, enhancing loan and investment thresholds under Section 186, and approving Material Related Party Transactions. The board also approved the appointment of Ms. Vishakha Agrawal & Associates as Secretarial Auditor for 5 years (FY26 to FY30) and the appointment of Director Mr. Mitkumar Dashrathbhai Chandel.

Proposed increase in foreign investment (FPI/FII/FDI/NRI) limit up to 49% of total paid-up capital.
34th AGM scheduled for September 28, 2026 via Video Conferencing.
Cut-off date for e-voting set as September 21, 2026; remote e-voting active September 25-27, 2026.
Approval of loans, guarantees, and securities under Sections 185 and 186, alongside Material Related Party Transactions.
Appointment of Secretarial Auditor M/s. Vishakha Agrawal & Associates for a 5-year tenure (FY26 to FY30).

💡 Track voting outcomes of the 34th AGM on September 28, 2026, especially regarding Section 185/186 loan limits and related-party transaction approvals.

₹40.41 Cr Revenue: Antarctica Ltd Returns to Profit in Q1 FY27 Amid Commodity Trading Pivot

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 14 Aug 2026, 05:06 PM

Antarctica Limited reported a significant sequential revenue growth of 32.6%, reaching ₹40.41 Cr in Q1 FY27 compared to ₹30.47 Cr in Q4 FY26. The company returned to profitability with a net profit of ₹0.55 Cr, recovering from a loss of ₹0.08 Cr in the previous quarter. However, the business model is almost entirely dependent on low-margin commodity trading, with stock purchases accounting for 98.5% of total revenue. While year-on-year revenue surged from ₹4.99 Cr, net profit actually declined slightly from ₹0.69 Cr in the same period last year due to compressed margins.

Revenue from operations increased to ₹40.41 Cr, a 32.6% jump over the preceding quarter.
Net profit for the quarter stood at ₹0.55 Cr, reversing a loss of ₹0.08 Cr in Q4 FY26.
Purchase of stock in trade reached ₹39.81 Cr, representing 98.5% of the total revenue base.
Earnings Per Share (EPS) improved to ₹0.04 from a negative ₹0.01 in the previous quarter.
Total expenses were tightly managed at ₹39.82 Cr, though operating margins remain extremely thin.

💡 Investors should monitor the company's ability to maintain trading volumes and watch for the full auditor's report to see if previous concerns regarding internal controls and transaction verification have been resolved.

0 events captured: Antarctica Ltd confirms compliance with SEBI Insider Trading regulations

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 29 Jul 2026, 05:33 PM

Antarctica Limited has submitted a compliance certificate for its Structured Digital Database (SDD) for the period July 01, 2026, to July 29, 2026. The certificate confirms that the company has a non-tamperable system in place to track Unpublished Price Sensitive Information (UPSI) as per SEBI (PIT) Regulations. During this 29-day window, zero events were required to be captured, and zero were recorded. This filing is a routine administrative requirement and does not impact the company's financial performance or business operations.

Zero (0) events were required to be captured in the SDD between July 01, 2026, and July 29, 2026
The company maintains a non-tamperable database capable of storing records for 8 years
NIL non-compliance was reported for the previous quarter or financial year regarding SDD maintenance
The certificate was issued by Vishakha Agrawal & Associates, Practicing Company Secretaries

💡 Investors should focus on the company's operational pivot to commodity trading and the high material costs (91% of revenue) rather than this routine administrative filing.

Antarctica Ltd Appoints Mr. Mitkumar Dashrathbhai Chandel as Additional Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 22 Jul 2026, 04:10 PM

Antarctica Limited has appointed Mr. Mitkumar Dashrathbhai Chandel as an Additional Director effective May 25, 2026. The appointee brings 1.5 years of experience in agriculture operations, aligning with the company's strategic pivot where agriculture trading now accounts for over 99% of turnover. This appointment comes at a time when the company maintains a very lean staff of 4 employees and faces significant governance challenges, including a critically low promoter holding of 0.96%.

Appointment of Mr. Mitkumar Dashrathbhai Chandel effective from May 25, 2026
Appointee has 1.5 years of practical experience in Agriculture Operations and Farm Management
Company has pivoted to Agriculture trading, which now contributes over 99% of total turnover
Promoter holding remains extremely low at 0.96% as of March 2026
Company operates with a lean staff of only 4 employees as of the last reported period

💡 Investors should monitor whether this appointment leads to improved internal controls and documentation, as previous auditors issued a disclaimer of opinion due to missing records.

Antarctica Limited reports SDD non-compliance for June 2026 quarter due to software corruption

🔴 NEGATIVE ⭐ 3/10

REGULATORY 📅 22 Jul 2026, 02:25 PM

Antarctica Limited has reported a technical failure in its Structured Digital Database (SDD) for the quarter ended June 30, 2026. While the company identified and captured 3 UPSI (Unpublished Price Sensitive Information) events during the period, software corruption has rendered the records unretrievable. This has resulted in a formal observation of non-compliance with SEBI (Prohibition of Insider Trading) Regulations. The company is currently re-entering data to restore the database and ensure compliance with the mandatory 8-year record-keeping requirement.

3 UPSI events were required to be captured and were reportedly recorded during the quarter ended June 30, 2026.
Software corruption has caused a temporary inability to retrieve or demonstrate complete records as required by SEBI.
The company is in the process of re-entering data to comply with Regulation 3(5) and 3(6) of PIT Regulations.
The database is legally required to maintain non-tamperable records for a period of 8 years.

💡 Investors should monitor for any follow-up regulatory action from SEBI or the exchanges regarding this lapse in internal controls, especially given the company's history of audit trail issues.

Antarctica Limited Closes Trading Window from July 1, 2026, for Q1 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Jun 2026, 11:57 AM

Antarctica Limited has announced the closure of its trading window for all designated persons starting July 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the financial results for the quarter ending June 30, 2026. The window will reopen 48 hours after the results are officially declared. This is a standard procedural filing for the company, which recently reported a TTM revenue of Rs 39 Cr following a pivot to commodity trading.

Trading window closure effective from July 1, 2026
Closure pertains to the financial results for the quarter ending June 30, 2026
Window to remain closed until 48 hours after the results announcement
Applies to all Promoters, Directors, and Key Managerial Personnel
Company reported TTM revenue of Rs 39 Cr with a significant shift to commodity trading (99% of turnover)

💡 Monitor the upcoming Q1 FY27 financial results to evaluate the sustainability of the company's high-volume commodity trading business and whether previous auditor concerns regarding transaction verification have been addressed.

View All ANTGRAPHIC Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue grew by 2,884% YoY to INR 25.05 Cr in FY25. Segment-wise: Agriculture & Others contributed INR 12.84 Cr (51.2% of revenue), Commodities contributed INR 12.05 Cr (48.1% of revenue), and Printing Stationery & Other Items contributed INR 0.16 Cr (0.6% of revenue).

Geographic Revenue Split

Not disclosed in available documents; however, the company operates out of Ahmedabad and Siliguri.

Profitability Margins

The company reported a Net Loss of INR 0.32 Cr in FY25, an improvement from a loss of INR 0.43 Cr in FY24. Net Profit Margin stood at -1.29%. For the half-year ended September 2025, the company reported a profit of INR 1.14 Cr, representing a significant turnaround.

EBITDA Margin

EBITDA for FY25 was INR 0.52 Cr, representing an EBITDA margin of 2.09%. This is a recovery from the previous year's operating losses.

Capital Expenditure

Capital expenditure on property, plant, and equipment was INR 0.28 Cr in FY25, compared to INR 0.22 Cr in the half-year ended September 2025.

Credit Rating & Borrowing

The company reported long-term borrowings of INR 2.33 Cr as of March 31, 2025. Finance costs were minimal at INR 0.0032 Cr, suggesting very low interest rates or non-interest bearing debt from related parties.

⚙️ Operational Drivers

Raw Materials

Specific raw material names are not listed, but 'Cost of Materials Consumed' accounted for INR 22.91 Cr, representing 91.46% of total revenue in FY25.

Capacity Expansion

Current installed capacity is not disclosed. The company operates with a very lean staff of 4 employees as of March 31, 2025.

Raw Material Costs

Raw material costs were INR 22.91 Cr in FY25 (91.46% of revenue). For the half-year ended September 2025, material costs were INR 7.84 Cr (78.5% of revenue).

Logistics & Distribution

Other expenses, which include distribution and administrative costs, were INR 0.50 Cr in FY25, representing 2% of revenue.

📈 Strategic Growth

Growth Strategy

The company is pivoting from its traditional Printing and Stationery business (which saw negligible revenue) toward Commodities and Agriculture trading, which now accounts for over 99% of total turnover. Growth is being driven by high-volume trading activities.

Products & Services

Printing stationery, agricultural products, and various traded commodities.

Brand Portfolio

Antarctica Limited.

New Products/Services

The company has shifted focus to Agriculture and Commodities trading, which contributed INR 24.89 Cr in its first full year of significant operation.

🌍 External Factors

Industry Trends

The industry is shifting toward organized commodity trading. The company is positioning itself by moving away from traditional printing (which is stagnant) into high-turnover agricultural segments.

Competitive Landscape

The company competes in the highly fragmented and price-sensitive commodity and agricultural trading markets.

Competitive Moat

The company appears to have no sustainable moat; auditors issued a disclaimer of opinion due to missing fixed asset registers and lack of transaction documentation.

Macro Economic Sensitivity

High sensitivity to agricultural commodity prices and Indian government policies regarding agricultural trade.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to agricultural trade regulations and manufacturing standards, though specific impacts are not quantified.

Taxation Policy Impact

The company provided for tax expenses of INR 0.38 Cr for the half-year ended September 2025.

Legal Contingencies

The company identifies 'Litigation' as a major risk area. Auditors were unable to verify compliance with Regulation 46 of SEBI LODR and noted the company has not yet appointed an Internal Auditor.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the 'Disclaimer of Opinion' from auditors who could not verify sales, purchases, or inventory, creating a 100% risk regarding the reliability of financial statements.