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AVROIND - Avro India

📊 NSE: AVROIND 🏢 Plastics Products 📅 Last Updated: 12/13/2025 18:47

📢 Recent Corporate Announcements

AVRO India Sets Record Processing 3 Lakh+ Cement Bags in 24 Hours; Recognized by Asia Book of Records

🟢 POSITIVE ⭐ 6/10

OTHER 📅 13 Mar 2026, 03:25 PM

AVRO India Limited has achieved a major operational milestone by processing over 3,00,000 cement bags within a 24-hour period at its recycling facility. This achievement has been officially recognized by both the Asia Book of Records and the India Book of Records, establishing the company as a leader in flexible plastic recycling. The company utilizes Asia’s largest fully automatic flexible plastic washing plant to recycle difficult materials like woven sacks and jumbo bags. This technological capability allows AVRO to replace virgin polymer costing approximately ₹100/kg while significantly reducing greenhouse gas emissions.

Processed over 3,00,000 cement bags in a single 24-hour period on March 10, 2026
Recognized by Asia Book of Records and India Book of Records as the only company in Asia to reach this benchmark
Operates Asia’s largest fully automatic flexible plastic washing plant for complex waste recycling
Reduces nearly 2.5 kg of greenhouse gas emissions per kg of recycled plastic produced
Replaces virgin polymer worth ₹100/kg, offering significant cost-saving potential and import substitution

💡 Investors should view this as a validation of the company's technological moat in the high-growth recycling and circular economy sector. Monitor how this operational efficiency and record-breaking capacity utilization translate into improved margins and revenue in upcoming quarterly results.

Avro India Launches 'Operation Shuddhi' Targeting ₹50,000 Crore Circular Economy

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 13 Mar 2026, 01:15 PM

Avro India Limited has officially launched 'Operation Shuddhi', a nationwide initiative aimed at transforming plastic waste into a circular economy resource. The company targets engaging 500,000 citizens and catalyzing ₹50,000 crore in economic activity through recycling and repurposing. To support this mission, the company introduced a dedicated website and a Recycling App to manage the collection ecosystem across schools, hospitals, and industries. This move aligns the company with national sustainability goals and explores new revenue streams in the waste-to-wealth sector.

Launched 'Operation Shuddhi' on March 10, 2026, to build a nationwide plastic recycling ecosystem.
Aims to engage 5,00,000 citizens to create a ₹50,000 Crore circular economy activity.
Introduced a new Recycling App and website to mobilize volunteers and streamline plastic collection.
Targeting large-scale livelihood generation by connecting hotels, religious institutions, and markets for waste repurposing.

💡 Investors should monitor the adoption rate of the new Recycling App and how the company plans to monetize this ecosystem. While the initiative significantly boosts the company's ESG profile, its direct impact on the bottom line will depend on the scale of the collection network.

Avro India EGM on March 30 to Ratify ₹21.08 Crore Promoter Personal Guarantees

🟡 NEUTRAL ⭐ 6/10

REGULATORY 📅 11 Mar 2026, 12:30 PM

Avro India Limited has convened an Extraordinary General Meeting (EGM) on March 30, 2026, to seek shareholder ratification for a material related party transaction. The transaction involves personal guarantees totaling ₹21.08 Crores provided by the company's promoters and their HUFs to IDFC First Bank Limited. These guarantees are intended to secure credit facilities for the company and are reported to be on an arm's length basis. The e-voting period for shareholders is set between March 27 and March 29, 2026.

EGM scheduled for March 30, 2026, to ratify promoter guarantees for bank loans.
Total guarantee amount involved is ₹21.08 Crores provided to IDFC First Bank Limited.
Guarantors include Chairman Sushil Kumar Aggarwal, Managing Director Sahil Aggarwal, and other family entities.
Cut-off date for e-voting eligibility is March 23, 2026.
Remote e-voting window opens March 27, 2026, and closes March 29, 2026.

💡 Investors should note the promoter's financial commitment to the company's debt obligations; ensure participation in e-voting if holding shares by the cut-off date.

AVRO India Schedules Extraordinary General Meeting (EGM) for March 30, 2026

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 08 Mar 2026, 02:51 PM

AVRO India Limited has announced an Extraordinary General Meeting (EGM) to be held on March 30, 2026, at 1:00 PM IST. The meeting will be conducted entirely through Video Conferencing (VC) or Other Audio-Visual Means, following SEBI guidelines. The company has completed the publication of pre-dispatch notices in major English and Hindi newspapers. Shareholders will have access to remote e-voting facilities to participate in the decision-making process.

Extraordinary General Meeting (EGM) set for March 30, 2026, at 1:00 PM.
Meeting to be held virtually via VC/OAVM, requiring no physical attendance.
Notices published in Financial Express and Jansatta on March 8, 2026.
Remote e-voting and e-voting during the EGM will be available for members.

💡 Investors should review the full EGM notice once received via email to evaluate the specific resolutions. Ensure your contact details are updated with the DP to participate in the e-voting process.

Avro India Schedules Extraordinary General Meeting (EGM) for March 30, 2026

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 06 Mar 2026, 06:04 PM

Avro India Limited has announced an Extraordinary General Meeting (EGM) to be held on March 30, 2026, via video conferencing. The board approved the meeting notice on March 06, 2026, following a session that concluded at 5:10 p.m. Shareholders as of the cut-off date of March 23, 2026, will be eligible to vote on the proposed resolutions. Remote e-voting will be available to members from March 27 to March 29, 2026.

Extraordinary General Meeting (EGM) to be held on March 30, 2026, at 1:00 p.m. IST
Cut-off date for shareholder voting eligibility is fixed as March 23, 2026
Remote e-voting window opens March 27, 2026 (9:00 AM) and closes March 29, 2026 (5:00 PM)
The meeting will be conducted entirely through Video Conferencing (VC) or Other Audio-Visual Means

💡 Investors should monitor for the upcoming EGM notice to understand the specific resolutions and corporate actions being proposed. No immediate action is required until the agenda is disclosed.

Avro India Schedules Extraordinary General Meeting for March 30, 2026

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 06 Mar 2026, 05:19 PM

Avro India Limited has announced an Extraordinary General Meeting (EGM) to be held on March 30, 2026, via video conferencing. The Board of Directors approved the EGM notice during their meeting on March 6, 2026. Shareholders holding shares as of the cut-off date of March 23, 2026, will be eligible to participate and vote. The company has provided a remote e-voting window from March 27 to March 29, 2026.

Extraordinary General Meeting (EGM) scheduled for March 30, 2026, at 1:00 PM IST.
Cut-off date for determining shareholder voting eligibility is March 23, 2026.
Remote e-voting facility available from March 27 (9:00 AM) to March 29 (5:00 PM).
The EGM will be conducted entirely through Video Conferencing (VC) or Other Audio-Visual Means (OAVM).

💡 Investors should monitor for the upcoming EGM notice to understand the specific resolutions and business items being proposed. No immediate action is required until the agenda of the meeting is disclosed.

Avro India Reports Nil Deviation in Utilization of Rs 49.27 Cr Raised via Preferential Issue

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 14 Feb 2026, 08:44 PM

Avro India Limited has confirmed there is no deviation or variation in the utilization of funds raised through its preferential issue of equity shares and warrants for the quarter ended December 31, 2025. The company raised a total of Rs 49.27 crore to fund expansion and working capital. Significant progress has been made with Rs 39.77 crore fully utilized for a greenfield plastic waste recycling project. Additionally, the company reported earning Rs 1.12 crore in interest income from funds parked in fixed deposits.

Total amount raised through preferential issue and warrants stands at Rs 49.27 crore.
Rs 39.77 crore fully utilized for the Greenfield Plastic Waste recycling project as per original objects.
Rs 4.62 crore utilized out of the allocated Rs 8.00 crore for long-term working capital requirements.
Company earned interest income of Rs 1.12 crore (excluding TDS) on fixed deposits from unutilized funds.
Audit Committee reviewed and confirmed a 'Nil' statement of deviation for the reporting period.

💡 Investors should track the operational commencement of the plastic waste recycling project as the capital has been fully deployed. The adherence to the fund utilization plan reflects disciplined management of capital.

Avro India Q3 Standalone PAT at ₹1.07 Cr; Revenue Up 15.6% QoQ

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 14 Feb 2026, 07:47 PM

Avro India Limited reported a standalone revenue of ₹24.29 crore for the quarter ended December 31, 2025, marking a 15.6% growth over the preceding quarter. Standalone net profit for Q3 stood at ₹1.07 crore, showing a slight sequential decline from ₹1.22 crore in Q2 FY26 due to increased raw material and other operating expenses. On a nine-month basis, the company demonstrated strong performance with standalone PAT rising 32.3% year-on-year to ₹3.34 crore. The company also presented consolidated results for the first time, reflecting the impact of its new subsidiary, Avro Recycling Limited, which helped push consolidated PAT to ₹1.36 crore for the quarter.

Standalone Revenue from Operations increased to ₹2,428.70 Lacs in Q3 FY26 from ₹2,100.38 Lacs in Q2 FY26.
Standalone Net Profit for 9M FY26 grew to ₹334.37 Lacs compared to ₹252.69 Lacs in 9M FY25.
Consolidated Net Profit for Q3 FY26 stood at ₹135.57 Lacs, benefiting from the newly formed subsidiary Avro Recycling Limited.
Other income included a significant sales commission of ₹234.42 Lacs for the quarter ended December 2025.
Cost of materials consumed rose significantly to ₹1,601.23 Lacs in Q3 from ₹1,329.52 Lacs in the previous quarter.

💡 Investors should monitor the margin profile as raw material costs have risen, while also tracking the scaling of the new recycling subsidiary. The stock remains a watch for growth in the organized furniture and recycling sectors.

Avro India Shareholders Approve Director Appointment and Remuneration Hikes in EGM

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 05 Feb 2026, 11:44 AM

Avro India Limited held an Extraordinary General Meeting on February 04, 2026, where shareholders approved four key special resolutions. The resolutions included the appointment of Mrs. Nimisha Rohit Agarwal as a Woman Independent Director and salary hikes for three top executives. Specifically, the Chairman and Managing Director saw their monthly remuneration increase from ₹1 lakh to ₹1.25 lakh, while another Whole Time Director's pay rose from ₹75,000 to ₹1.25 lakh. All proposals were passed with a near-unanimous majority of valid votes cast.

Appointment of Mrs. Nimisha Rohit Agarwal as Woman Independent Director approved by shareholders.
Remuneration for Chairman Sushil Kumar Aggarwal increased by 25% to ₹1.25 lakh per month.
Managing Director Sahil Aggarwal's monthly pay increased from ₹1 lakh to ₹1.25 lakh.
Whole Time Director Nikhil Aggarwal received a 66.7% pay hike, increasing from ₹75,000 to ₹1.25 lakh per month.
All resolutions passed with over 99.99% of valid votes in favor across remote and e-voting platforms.

💡 These are routine administrative changes and modest salary adjustments that do not significantly impact the company's cost structure. Investors should continue to monitor the company's operational performance and growth trajectory.

Avro India EGM: Remuneration Hikes for Directors and New Independent Director Appointment

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 04 Feb 2026, 10:01 PM

Avro India Limited conducted an Extraordinary General Meeting on February 04, 2026, focusing on leadership and compensation. Shareholders voted on the appointment of Mrs. Nimisha Rohit Agarwal as a Woman Independent Director. The meeting also addressed remuneration increases for three key directors, including the Chairman and Managing Director, raising their pay to ₹1.25 lakh. Notably, the Whole Time Director's remuneration is proposed to increase from ₹75,000 to ₹1.25 lakh, representing a 66% jump.

Proposed increase in remuneration for Chairman Sushil Kumar Aggarwal from ₹1,00,000 to ₹1,25,000
Managing Director Sahil Aggarwal's remuneration to increase from ₹1,00,000 to ₹1,25,000
Whole Time Director Nikhil Aggarwal's pay to rise by 66.6% from ₹75,000 to ₹1,25,000
Appointment of Mrs. Nimisha Rohit Agarwal as a Woman Independent Director was put to vote
The EGM was attended by 41 members via video conferencing

💡 Investors should monitor the final voting results to ensure shareholder alignment with the management's pay hikes. While the absolute amounts are relatively low, the percentage increases reflect the board's current valuation of executive leadership.

AVRO India Appoints M/s Mayank Rajeev & Co. as Internal Auditors till FY 2026-27

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Jan 2026, 04:42 PM

AVRO India Limited has announced the appointment of M/s Mayank Rajeev & Co., Chartered Accountants, as the company's Internal Auditors. The decision was finalized during a Board meeting held on January 23, 2026, following recommendations from the Audit Committee. The newly appointed firm will oversee internal audit functions until the end of the 2026-27 financial year. This is a standard regulatory appointment to ensure robust internal financial controls and compliance.

M/s Mayank Rajeev & Co. (FRN: 021536C) appointed as Internal Auditors effective January 23, 2026.
The appointment tenure is valid through the financial year 2026-27.
The Board meeting approving the appointment commenced at 03:00 p.m. and concluded at 04:35 p.m.
The appointment adheres to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

💡 This is a routine administrative update regarding corporate governance. No immediate action is required as it does not impact the company's fundamental business operations or financial outlook.

AVRO India Limited Announces Resignation of Internal Auditors M/s NSH & Co.

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 17 Jan 2026, 02:40 PM

AVRO India Limited has reported the resignation of its Internal Auditors, M/s NSH & Co., effective January 17, 2026. The auditing firm cited other professional commitments as the primary reason for their departure. This change pertains specifically to internal audit functions rather than statutory audit. The company is now required to appoint a successor to maintain its internal control oversight as per SEBI regulations.

M/s NSH & Co. (FRN: 033184N) resigned as Internal Auditors effective January 17, 2026.
The resignation is attributed to other professional commitments of the audit firm.
Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company must now initiate the process to appoint a new Internal Auditor to ensure governance continuity.

💡 Investors should monitor the company's next announcement regarding the appointment of a new internal auditor to ensure there are no gaps in internal financial controls.

Avro India to Hold EGM on Feb 4, 2026, for Director Appointment and Remuneration Hikes

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 12 Jan 2026, 04:45 PM

Avro India Limited has called for an Extraordinary General Meeting (EGM) on February 4, 2026, to seek shareholder approval for key leadership changes and salary revisions. The company proposes appointing Mrs. Nimisha Rohit Agarwal as a Woman Independent Director for a five-year term. Significant remuneration increases are proposed for the Chairman, Managing Director, and Whole Time Director, with all three set to receive ₹1.25 lakh per month. Notably, these increases are flagged to potentially exceed 5% of the company's net profits, requiring special resolutions from shareholders.

Extraordinary General Meeting (EGM) scheduled for February 4, 2026, with a shareholder cut-off date of January 28, 2026.
Proposed appointment of Mrs. Nimisha Rohit Agarwal as a Woman Independent Director for a 5-year tenure starting January 2, 2026.
Remuneration for Chairman Sushil Kumar Aggarwal and MD Sahil Aggarwal to increase from ₹1,00,000 to ₹1,25,000 per month.
Remuneration for WTD Nikhil Aggarwal to increase from ₹75,000 to ₹1,25,000 per month, representing a 66.7% hike.
The proposed pay hikes may exceed the 5% net profit limit under Section 198 of the Companies Act, 2013.

💡 Investors should review the voting resolutions to ensure management compensation is justified by company performance, though the absolute salary figures remain relatively low for a listed entity. Monitor the EGM outcomes for confirmation of these management changes.

Avro India Submits SEBI Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jan 2026, 09:56 PM

Avro India Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the period ending December 31, 2025. The company's Registrar and Share Transfer Agent, Mas Services Limited, confirmed that all dematerialization requests were processed within the mandated 15-day window. The filing confirms that physical share certificates were mutilated and cancelled after due verification. This is a standard administrative procedure to ensure the accuracy of electronic shareholding records.

Compliance certificate issued for the quarter ended December 31, 2025
Demat requests processed within the 15-day regulatory timeframe
Physical security certificates mutilated and cancelled after verification
Registrar Mas Services Limited confirmed update of member registers with depositories

💡 No action is required from investors as this is a routine regulatory filing confirming standard administrative compliance.

Avro India Limited Schedules Extra Ordinary General Meeting for February 04, 2026

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 08 Jan 2026, 06:29 PM

Avro India Limited has announced that an Extra Ordinary General Meeting (EGM) will be held on February 04, 2026, at 01:00 p.m. IST. The meeting will be conducted virtually through Video Conferencing or Other Audio-Visual Means. While the specific agenda for the meeting has not yet been disclosed, the company has confirmed that remote e-voting facilities will be provided to all eligible shareholders. Investors are advised to wait for the detailed EGM Notice to understand the specific resolutions being proposed for a vote.

Extra Ordinary General Meeting (EGM) scheduled for February 04, 2026, at 01:00 p.m. IST.
The meeting will be held via Video Conference (VC) or Other Audio-Visual Means (OAVM).
Remote e-voting facility will be provided to members as per Section 108 of the Companies Act, 2013.
The detailed Notice of the EGM containing specific resolutions will be issued in due course.

💡 Investors should monitor upcoming filings for the EGM Notice to evaluate the specific business matters or resolutions being proposed. No immediate action is required until the agenda is clarified.

View All AVROIND Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single business segment (Furniture). Revenue from operations for FY 2025 was INR 78.32 Cr, representing a 16.12% decline from INR 93.37 Cr in FY 2024. However, H1 FY 2026 revenue grew 22.7% YoY to INR 42.67 Cr from INR 34.77 Cr.

Geographic Revenue Split

The company maintains a pan-India presence and is actively increasing its geographical expansion through new dealers and distributors. Specific regional percentage splits are not disclosed in available documents.

Profitability Margins

Net Profit Margin for FY 2025 was 3.88%, a 10.19% decrease from 4.32% in FY 2024. Operating Profit Margin stood at 10.97% in FY 2025, down 5.92% from 11.66% in the previous year. The decline is attributed to lower net sales and shifts in operational costs.

EBITDA Margin

EBITDA for FY 2025 was INR 9.65 Cr (12.32% margin), a slight decline of 1.43% from INR 9.79 Cr in FY 2024. Core profitability remains stable despite the revenue drop due to cost management.

Capital Expenditure

During H1 FY 2026, the company invested INR 4.34 Cr in Property, Plant, and Equipment (including CWIP and Capital Advances) to support capacity and infrastructure.

Credit Rating & Borrowing

Finance costs for FY 2025 were INR 1.60 Cr. For H1 FY 2026, finance costs were INR 0.78 Cr, a 10.8% increase from INR 0.72 Cr YoY. Specific credit ratings and interest rate percentages are not disclosed.

⚙️ Operational Drivers

Raw Materials

Regenerated polymers and used plastics represent the primary raw materials, with cost of materials consumed totaling INR 27.79 Cr in H1 FY 2026, accounting for 65.1% of total revenue.

Import Sources

The company relies on imported machinery and moulds, primarily impacting capital expenditure and operational efficiency. Specific sourcing countries for polymers are not disclosed.

Capacity Expansion

The company is expanding its distribution network and has incorporated a new subsidiary, AVRO Recycling Limited, on May 14, 2025, to enhance its circular economy capabilities. Specific MTPA capacity figures are not disclosed.

Raw Material Costs

Raw material costs (cost of materials consumed) were INR 27.79 Cr for H1 FY 2026, up 20.8% from INR 23.01 Cr in H1 FY 2025. The company uses a strategy of regenerated polymers to mitigate cost volatility.

Manufacturing Efficiency

The company utilizes a circular economy model where discarded plastics are collected and turned into furniture, improving resource efficiency and sustainability.

Logistics & Distribution

The company is enhancing its distribution network by adding dealers and distributors to strengthen its pan-India presence. Specific logistics costs are not disclosed.

📈 Strategic Growth

Expected Growth Rate

22.70%

Growth Strategy

Growth will be achieved through the expansion of the dealer/distributor network across India and the operationalization of the new subsidiary, AVRO Recycling Limited. The company is focusing on high-quality, affordable products and sustainability initiatives (recycling) to capture market share in the organized furniture sector.

Products & Services

Moulded plastic furniture, including chairs and tables, made from regenerated polymers.

Brand Portfolio

AVRO Furniture

New Products/Services

The company is focusing on products created from regenerated polymers through its new recycling subsidiary, though specific revenue contribution percentages for new launches are not yet disclosed.

Market Expansion

Targeting pan-India expansion by increasing the density of the distribution network and geographical footprint.

Strategic Alliances

Incorporated a wholly-owned subsidiary, AVRO Recycling Limited, on May 14, 2025.

🌍 External Factors

Industry Trends

The industry is shifting toward sustainability and circular economy models. AVRO is positioning itself by reusing manufacturing waste and using regenerated polymers to align with environmental regulations and consumer preferences.

Competitive Landscape

The company competes in the moulded plastic furniture market, focusing on affordability and sustainability to differentiate from unorganized players.

Competitive Moat

The company's moat is built on its recycling-led manufacturing process and a strong distribution network. Sustainability initiatives provide a cost advantage and brand differentiation in the affordable furniture segment.

Macro Economic Sensitivity

Sensitive to general economic conditions and consumer demand shifts for home/office furniture.

Consumer Behavior

Increasing consumer preference for sustainable and affordable furniture products is driving demand for AVRO's recycled polymer range.

Geopolitical Risks

Exchange rate volatility between the US Dollar and Indian Rupee is cited as a potential risk to financial status.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to environmental regulations regarding plastic waste management and manufacturing standards for consumer goods.

Environmental Compliance

The company is heavily invested in ESG through its recycling subsidiary and zero-waste manufacturing process. Specific compliance costs in INR are not disclosed.

Taxation Policy Impact

Current tax liabilities (net) were INR 0.38 Cr as of September 30, 2025. Deferred tax assets stood at INR 0.20 Cr.

⚠️ Risk Analysis

Key Uncertainties

Key risks include raw material price volatility and foreign exchange fluctuations, which could impact margins by an estimated 5-10% based on historical margin variances.

Geographic Concentration Risk

While expanding pan-India, the company's primary operations and manufacturing are based in Ghaziabad, Uttar Pradesh.

Third Party Dependencies

Dependency on a network of dealers and distributors for revenue generation and market penetration.

Technology Obsolescence Risk

The company uses specialized moulds and machinery; failure to upgrade to more efficient recycling technology could impact competitive positioning.

Credit & Counterparty Risk

Trade receivables as of September 30, 2025, were INR 11.58 Cr. The company noted a significant increase in average trade receivables in FY 2025 compared to a decrease in credit sales, indicating potential pressure on receivables quality.