AVROIND - Avro India
📢 Recent Corporate Announcements
AVRO India Limited has officially fixed May 5, 2026, as the record date for its stock subdivision. The company will split its existing equity shares from a face value of Rs. 10 into ten shares with a face value of Rs. 1 each. This corporate action is designed to enhance the liquidity of the stock in the secondary market by making it more accessible to retail investors. Shareholders must hold the stock by the record date to be eligible for the increased share count.
- Record date for the stock split is Tuesday, May 05, 2026
- Subdivision ratio of 1:10 (1 share of Rs. 10 FV becomes 10 shares of Rs. 1 FV)
- Intimation provided under Regulation 42 of SEBI (LODR) Regulations
- Aims to improve trading liquidity and retail participation in the stock
AVRO India Limited's shareholders have officially approved a 1:10 stock split during the Extraordinary General Meeting held on April 18, 2026. The face value of each equity share will be subdivided from Rs. 10 to Rs. 1 to enhance liquidity and retail participation. Additionally, the meeting saw the approval of a new set of Articles of Association and an amendment to the Capital Clause of the Memorandum of Association. All resolutions were passed with an overwhelming majority, with 99.999% of votes cast in favor.
- Approved 1:10 stock split, reducing face value from Rs. 10 to Rs. 1 per equity share
- Stock split resolution received 5,399,440 votes in favor and only 1 vote against
- Shareholders approved the adoption of a new set of Articles of Association aligned with the Companies Act, 2013
- A total of 5,399,441 valid votes were polled across 23 participating members via remote and EGM e-voting
AVRO India Limited has allotted 1,06,090 equity shares at an issue price of Rs. 127.25 per share following the exercise of convertible warrants by non-promoter investors. While this results in a minor capital infusion, the company also announced the forfeiture of 4,24,361 warrants as holders failed to pay the remaining 75% balance within the stipulated 18-month period. The 25% upfront payment previously received for these lapsed warrants will be retained by the company, providing a small boost to reserves. Consequently, the paid-up equity capital has increased to Rs. 13.41 crore.
- Allotment of 1,06,090 equity shares at an issue price of Rs. 127.25 per share.
- Forfeiture of 25% upfront money on 4,24,361 lapsed warrants due to non-payment of balance.
- Total paid-up equity share capital increased from 1,33,11,050 to 1,34,17,140 shares.
- The conversion involves four non-promoter individuals, including Sunil Duggal and Santosh Kumar Pandey.
- The newly allotted shares will rank pari-passu with existing equity shares.
Avro India Limited successfully conducted an Extraordinary General Meeting (EGM) on March 30, 2026, to ratify a material related party transaction. Shareholders approved personal guarantees provided by the promoter group, including Mr. Sushil Kumar Aggarwal and family members, to IDFC First Bank for a credit facility of ₹21.08 Crores. The resolution was passed with an overwhelming majority, with 99.9981% of the votes cast in favor. This move ensures regulatory compliance for the company's existing financial arrangements.
- Shareholders ratified personal guarantees worth ₹21.08 Crores provided by promoters to IDFC First Bank.
- The resolution was passed as an Ordinary Resolution with 99.9981% of valid votes in favor.
- A total of 17 members participated in the voting process, representing 53,350 shares.
- Promoter and Promoter Group members did not participate in the voting as they were interested parties in the transaction.
Avro India Limited held an Extraordinary General Meeting (EGM) on March 30, 2026, to ratify a material related party transaction. The resolution involved personal guarantees totaling ₹21.08 Crores provided by the company's promoters and their respective HUFs to IDFC First Bank Limited. This guarantee was issued on behalf of the company to secure credit facilities, reflecting continued promoter support for the firm's financial obligations.
- Ratification of personal guarantees worth ₹21.08 Crores provided to IDFC First Bank Limited.
- Guarantors include Mr. Sushil Kumar Aggarwal, Sahil Aggarwal, Nikhil Aggarwal, and their HUFs.
- The EGM was conducted via Video Conference on March 30, 2026, with 31 members in attendance.
- Remote e-voting was available for shareholders from March 27 to March 29, 2026.
Avro India Limited has issued a corrigendum to its Extraordinary General Meeting (EGM) notice scheduled for March 30, 2026. The meeting seeks shareholder ratification for material related party transactions involving personal guarantees of ₹21.08 Crores provided by promoters to IDFC First Bank. The corrigendum clarifies that this transaction value represents a substantial 371.56% of the company's turnover for the preceding financial year. This update provides necessary regulatory clarity on the scale of promoter support relative to the company's financials.
- Ratification of personal guarantees worth ₹21.08 Crores provided by promoters to IDFC First Bank.
- Transaction value represents 371.56% of the company's turnover for the immediate preceding financial year.
- The corrigendum updates the counter-party's annual consolidated turnover representation to 10.35%.
- Promoters involved include Mr. Sushil Kumar Aggarwal, Mrs. Anita Aggarwal, and associated HUFs.
- EGM is scheduled to be held on March 30, 2026, at 01:00 PM via Video Conferencing.
Avro India Limited has issued a notice for an Extraordinary General Meeting (EGM) to be held on April 18, 2026, primarily to seek approval for a 1:10 stock split. The proposal involves sub-dividing each equity share of face value Rs. 10 into ten equity shares of face value Rs. 1 each. This corporate action aims to enhance market liquidity and make the shares more accessible to retail investors. The company will also seek approval to adopt a new set of Articles of Association and amend the Capital Clause of its Memorandum of Association.
- Proposed sub-division of 1 equity share of face value Rs. 10 into 10 equity shares of face value Rs. 1 each.
- Authorized Share Capital remains at Rs. 15 Crores, but total shares will increase from 1.5 Crore to 15 Crore.
- EGM scheduled for April 18, 2026, with a cut-off date of April 11, 2026, for e-voting eligibility.
- Outstanding convertible warrants will be adjusted proportionally to maintain total economic entitlement post-split.
AVRO India's Board has approved a sub-division of its equity shares from a face value of Rs. 10 to Rs. 1 per share, resulting in a 1:10 stock split. This corporate action is intended to improve market liquidity and make the shares more affordable for retail investors. The company's authorized share capital will be adjusted to 15 crore shares of Rs. 1 each, while the paid-up capital will increase to 13.31 crore shares. An Extraordinary General Meeting (EGM) is scheduled for April 18, 2026, to obtain necessary shareholder approvals.
- Approved 1:10 stock split, reducing face value from Rs. 10 to Rs. 1 per share
- Post-split paid-up share capital will increase from 1,33,11,050 to 13,31,10,500 equity shares
- Authorized share capital maintained at Rs. 15 Crores, now divided into 15 Crore shares
- Extraordinary General Meeting (EGM) to be held on April 18, 2026, for shareholder approval
- Split process expected to be completed within 2 months of receiving shareholder consent
AVRO India's Board of Directors has approved a 1:10 stock split, sub-dividing each equity share of face value Rs. 10 into 10 equity shares of face value Re. 1. This move will increase the total number of paid-up equity shares from 1,33,11,050 to 13,31,10,500. The company aims to enhance market liquidity and make the stock more affordable for retail participants. An Extraordinary General Meeting (EGM) is scheduled for April 18, 2026, to obtain shareholder approval for this corporate action.
- Approved 1:10 stock split, reducing face value from Rs. 10 to Re. 1 per share
- Paid-up share capital count to increase from 1.33 crore to 13.31 crore shares
- Authorised share capital remains at Rs. 15 crore, restructured into 15 crore shares of Re. 1 each
- Extraordinary General Meeting (EGM) scheduled for April 18, 2026, for shareholder voting
- Expected completion of the split process within two months of shareholder approval
Avro India Limited has announced a Board of Directors meeting scheduled for March 25, 2026, to consider and approve a sub-division or split of the company's equity shares. Following this announcement, the trading window for dealing in the company's securities has been closed from March 21, 2026. The closure will remain in effect until 48 hours after the conclusion of the board meeting. Stock splits are generally intended to increase liquidity and make shares more affordable for retail investors.
- Board meeting scheduled for March 25, 2026, at 01:00 p.m. to discuss equity share sub-division.
- Trading window closed effective from March 21, 2026, as per SEBI Insider Trading regulations.
- Trading restriction applies to all designated persons and their immediate relatives until 48 hours post-meeting.
- The proposal aims to potentially increase the liquidity of AVROIND shares on the NSE and BSE.
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
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.
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.
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.
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
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.