Aastha Spintex Advances 1.35 MW Solar Project, GEDA Registration Completed For Falcon Yarns Facility

Surendranagar: Aastha Spintex Limited has moved its 1.35 MW rooftop solar project at Falcon Yarns Private Limited’s facility into on-site execution after securing regulatory registration.

GEDA Clears Rooftop Project

The Gujarat Energy Development Agency registered the rooftop solar system with 1,000 kW AC and 1,350 kW DC capacity.

The 16 September registration was issued under the Gujarat Integrated Renewable Energy Policy 2025 for the industrial and commercial category.

The system is being installed at Falcon Yarns’ manufacturing plant in Bharudi, Gondal, Rajkot district, and follows the completion of the project’s formal regulatory registration process.

The daily progress report said 13 personnel were deployed. Module Mounting Structure marking was 70 percent complete, while installation had reached 40 percent.

Managing Director Divyang Jashwant Patel called the registration and on-site execution important milestones. He said the project was progressing as planned.

Three-Pillar Growth Strategy

The solar initiative will strengthen Aastha Spintex’s expanded manufacturing platform following the Falcon Yarns acquisition.

The company’s three-pillar strategy covers financial excellence, shareholder rewards and vertical integration from yarn to fabric. Its board approved a 1:1 bonus issue, dividend and forward integration.

Up to Rs 44.14 crore from eligible reserves and securities premium will be capitalised to issue fully paid bonus shares of Rs 10 each.

The company plans to raise authorised share capital from Rs 45 crore to Rs 100 crore for the bonus issue and expansion. It will manufacture grey fabric and other value-added products under its brand.

Capacity And Earnings Rise

The Falcon Yarns acquisition is expected to raise Aastha Spintex’s spinning capacity from 7,700 tonnes to 17,457 tonnes and spindle capacity from 25,920 to 61,824.

Revenue increased from Rs 240 crore in FY23 to Rs 352 crore in FY25, representing a compound annual growth rate of 21.2 percent. Net profit climbed from Rs 1.1 crore to Rs 23 crore, translating into a 356 percent CAGR.

Operating profit margin improved from 5.87 percent to 14.16 percent, while EBITDA margin strengthened from 6.05 percent to 14.45 percent, reflecting improved efficiency and disciplined cost management.