Aastha Spintex Moves 1.35 MW Solar Project Into Execution; How Could It Lower Falcon Yarns’ Energy Costs?
The shares of this micro cap company majorly engaged in in the business of manufacturing and trading of carded, combed and compact combed cotton yarns and cotton bales, were in focus after it moved one of its projects into execution.
With the market capitalization of Rs. 341 Crores, the shares of Aastha Spintex Ltd reached an intraday high of Rs. 77.87 per share rising nearly over 4 percent from its previous day close of Rs. 74.57 per share and is trading at a P/E of 13.8 whereas industry P/E stands at 20.
1.35 MW Rooftop Solar Project Moves Into Execution
The management of Aastha Spintex has given an update on the 1.35 MW DC rooftop solar PV plant that is being set up at the factory of its acquired company, Falcon Yarns Pvt. Ltd., located in Bharudi, Gondal, in the district of Rajkot, Gujarat. This project has been registered by the Gujarat Energy Development Agency (GEDA) through the Gujarat Integrated Renewable Energy Policy 2025.
The solar farm has the potential of generating 1,000 kW AC and 1,350 kW DC, and it is currently being built using the CAPEX method, implying that the ownership of the plant will belong to the applicant. The power generated will be used by Falcon Yarns internally rather than being sold as merchant power.
Now the project has moved ahead from registration to implementation at the site. In the Daily Progress Report of September 16, 2026, it has been stated that 13 persons were working on the site. The MMS Marking work was 70% completed, whereas the MMS Installation work was about 40% completed.
For Falcon Yarns, the project can contribute to energy-cost efficiency post-commissioning through the reduction of electricity needs from the grid when the sun is generating electricity. But in reality, the savings would depend on a number of factors such as solar generation, availability of the plant, captive consumption, and electricity tariffs
Importantly, the project is yet to be commissioned. The feasibility of the project from a technical point of view, connectivity, metering, SLD approval, and other statutory aspects still need to be sorted out. Hence, at the present time, the state of the project should be regarded as GEDA registered and under execution.
About the Company and Financials
Aastha Spintex is a company involved in the manufacture of cotton yarns like combing yarns, carding yarns, and compact combing yarns for use in both weaving and knitting. The company maintains an integrated manufacturing process and gives priority to quality, sustainability, and efficiency. Their products can be used in various textile needs. Additionally, they are proud of the use of renewable energy in their processes.
Year on Year analysis: Revenue from operations has decreased from Rs. 91.9 Crores to Rs. 77.47 Crores, down 15 percent. Operating profit has increased from Rs. 7.42 Crores to Rs. 9.11 Crores, up 22.7 percent and net profit has increased from Rs. 2.28 Crores to Rs. 3.09 Crores, up 35.5 percent
Quarter on Quarter analysis: Revenue from operations has decreased from Rs. 141.48 Crores to Rs. 77.47 Crores, down 45 percent. Operating profit has decreased from Rs. 20.23 Crores to Rs. 9.11 Crores, down 55 percent and net profit has decreased from Rs. 10.79 Crores to Rs. 3.09 Crores, down 71 percent