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Ashoka Refineries Ltd (526983)

📊 BSE: 526983 🏢 Other Agricultural Products 📢 Latest filing: 01 Oct 2026

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Ashoka Refineries' revenue was ₹0.0 Cr, and net profit ₹-0.0 Cr (a smaller loss than a year earlier); the operating margin was -481.5%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹0.0	—	-19.0%
Operating profit	₹-0.0	loss narrowed	loss narrowed
Net profit	₹-0.0	loss narrowed	loss narrowed
EPS (₹)	-0.11	loss narrowed	loss narrowed
Operating margin	-481.5%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Ashoka Refineries Approves All 5 Resolutions at 35th AGM with 100% Votes in Favor

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Oct 2026, 06:57 PM

Ashoka Refineries Limited announced the voting results for its 35th Annual General Meeting held on September 30, 2026. All five ordinary and special resolutions were approved unanimously with 100% of the 3,37,100 votes cast in favor. The approved agendas include the adoption of FY26 financial statements, reappointment of director Tulsiram Sahu, appointment of M/s KCMG & Associates as Statutory Auditors, and the re-appointment of Managing Director Hifzul Rahim for a 3-year term. A total of 11 shareholders attended via video conference out of 1,000 shareholders on the cut-off date.

All 5 resolutions passed with 100.00% valid votes in favor (3,37,100 votes cast)
Re-appointment of Hifzul Rahim as Managing Director approved for a 3-year term
M/s KCMG & Associates appointed as new Statutory Auditors
Only 11 shareholders attended the virtual AGM out of 1,000 total shareholders as of cut-off date September 23, 2026

💡 Track the upcoming Q2 FY27 operational and financial results to see if the company can reverse its negligible revenue and negative operating performance.

Ashoka Refineries Announces Book Closure from Sep 24 to Sep 30, 2026 for 35th AGM

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 05 Sep 2026, 06:40 PM

Ashoka Refineries Ltd has announced the closure of its Register of Members and Share Transfer Books from September 24, 2026 to September 30, 2026 (both days inclusive). This book closure is conducted pursuant to Regulation 42 of SEBI LODR for the purpose of the company's 35th Annual General Meeting (AGM). This is a routine statutory and compliance update with no operational or financial impact.

Book closure period scheduled from September 24, 2026 to September 30, 2026 (both days inclusive)
Intimation filed for conducting the 35th Annual General Meeting of the company
Filing submitted under Regulation 42 of SEBI (LODR) Regulations, 2015

💡 Shareholders should note the record/book closure dates for eligibility to participate and vote in the 35th AGM proceedings.

Ashoka Refineries Files FY26 Annual Report; 35th AGM Scheduled for September 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Sep 2026, 06:36 PM

Ashoka Refineries Ltd has submitted its Annual Report for FY 2025-26 along with the Notice for its 35th Annual General Meeting (AGM) scheduled on September 30, 2026. The key agenda items include the appointment of M/s KCMG & Associates as statutory auditors for a 5-year term following the resignation of previous auditors. Additionally, the re-appointment of Managing Director Mr. Hifzul Rahim for 3 years (up to ₹5,00,000 annual remuneration limit) is proposed, with the MD voluntarily waiving his remuneration due to current financials.

35th AGM scheduled for September 30, 2026 at 03:30 PM via Video Conferencing
Appointment of M/s KCMG & Associates as Statutory Auditors for a 5-year term up to the 40th AGM
Proposed re-appointment of Mr. Hifzul Rahim as MD for 3 years with voluntary remuneration waiver (capped at ₹5,00,000/year)
Re-appointment of Mr. Aditya Sharma as Independent Director for a second 5-year term until August 12, 2031

💡 Track voting outcomes of the AGM on September 30, 2026, and monitor if the company initiates any operational revival to generate meaningful revenue.

Ashoka Refineries reports 48-day delay in disclosing Independent Director's tenure completion

🔴 NEGATIVE ⭐ 3/10

MANAGEMENT 📅 14 Aug 2026, 01:47 PM

Ashoka Refineries Ltd has clarified that Independent Director Mr. Aditya Sharma ceased to be a director on June 27, 2026, following the completion of his tenure. The company admitted to a significant delay in reporting this event to the exchange, with the formal disclosure occurring only on August 14, 2026, instead of the prescribed timeline in June. The company attributed this to an 'internal oversight' and stated it is strengthening monitoring processes. Given the company's micro-cap status (Rs 5 Cr) and negligible revenue (Rs 0.04 Cr in FY26), this administrative lapse reflects poorly on internal compliance controls.

Mr. Aditya Sharma ceased to be an Independent Director effective June 27, 2026.
The disclosure was finalized on August 14, 2026, representing a delay of approximately 48 days from the event.
The company reported a net loss of Rs 0.16 Cr for FY26 on a total revenue of just Rs 0.04 Cr.
The director also ceased to be a member of all Board Committees effective June 27, 2026.

💡 Investors should monitor for any potential regulatory penalties from SEBI or BSE regarding the disclosure delay and check for the appointment of a new Independent Director to ensure the board remains compliant with listing regulations.

Ashoka Refineries Re-appoints Independent Director for 5-Year Term and Internal Auditor

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 13 Aug 2026, 04:43 PM

Ashoka Refineries Ltd has approved the re-appointment of Mr. Aditya Sharma as an Independent Director for a second five-year term effective August 13, 2026, pending shareholder approval. The board also re-appointed M/s. Suraj Rajput & Co. as the Internal Auditor for the 2026-27 financial year. These moves are primarily administrative for the micro-cap company, which reported a negligible revenue of Rs 0.04 Cr in FY26 and a market capitalization of only Rs 5 Cr. The company continues to operate with significant losses, reporting a net loss of Rs 0.16 Cr for the last fiscal year.

Re-appointment of Mr. Aditya Sharma as Independent Director for a 5-year term starting August 13, 2026
Re-appointment of M/s. Suraj Rajput & Co. as Internal Auditor for the financial year 2026-27
Company reported a TTM revenue of Rs 0 Cr and a net loss of Rs 0.16 Cr in FY26
Market capitalization remains extremely low at Rs 5 Cr with a promoter holding of 32.94%

💡 Investors should monitor the upcoming Annual General Meeting (AGM) for shareholder approval of the director's re-appointment and look for any management commentary regarding the resumption of revenue-generating operations.

Ashoka Refineries Reports Q1 FY27 Net Loss of ₹3.13 Lakhs on Negligible Revenue

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 13 Aug 2026, 04:29 PM

Ashoka Refineries reported a net loss of ₹3.13 Lakhs for the quarter ended June 30, 2026, showing a slight improvement from a loss of ₹3.78 Lakhs in the corresponding quarter of the previous year. Revenue from operations remained virtually non-existent at just ₹0.01 Lakhs, continuing a long-term trend of minimal business activity. Total expenses for the period were ₹3.14 Lakhs, with employee benefits accounting for the largest share at ₹2.34 Lakhs. The company also confirmed the re-appointment of its internal auditor and an independent director for a five-year term.

Revenue from operations was a nominal ₹0.01 Lakhs for the quarter ended June 30, 2026.
Net loss for the quarter stood at ₹3.13 Lakhs versus a loss of ₹3.78 Lakhs YoY.
Employee benefit expenses of ₹2.34 Lakhs represent the primary operational cost for the entity.
Paid-up equity share capital remains unchanged at ₹340.19 Lakhs.
Independent Director Aditya Sharma re-appointed for a second 5-year term effective August 13, 2026.

💡 Investors should monitor for any management commentary regarding the revival of core trading activities, as the company currently lacks sufficient revenue to cover basic administrative overheads.

Ashoka Refineries Q1 FY27: Net Loss of ₹4.03 Lakhs on Negligible Revenue

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 13 Aug 2026, 04:16 PM

Ashoka Refineries reported a net loss of ₹4.03 Lakhs for the quarter ended June 30, 2026, compared to a loss of ₹3.81 Lakhs in the previous quarter. Revenue from operations remains extremely low at just ₹0.11 Lakhs, reflecting a lack of core business activity. Total expenses for the quarter were ₹4.14 Lakhs, primarily driven by employee benefit costs of ₹2.34 Lakhs. The company continues to operate at a very small scale with a market capitalization of only ₹5 Cr and a net worth of ₹2 Cr.

Net Loss of ₹4.03 Lakhs reported for Q1 FY27 vs ₹3.81 Lakhs in the previous quarter.
Revenue from operations stood at a minimal ₹0.11 Lakhs for the quarter.
Employee benefit expenses accounted for the largest cost component at ₹2.34 Lakhs.
Re-appointment of Mr. Aditya Sharma as Independent Director for a second 5-year term until August 2031.
Internal Auditor M/s Suraj Rajput & Co re-appointed for the Financial Year 2026-27.

💡 Investors should monitor if the company can initiate any meaningful 'Trading Activities' as current revenues are insufficient to cover basic administrative and employee costs.

Ashoka Refineries: Completion of 5-Year Tenure of Independent Director Aditya Sharma

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 12 Aug 2026, 06:45 PM

Ashoka Refineries Ltd has announced the completion of the 5-year tenure of Mr. Aditya Sharma as an Independent Director, effective June 27, 2026. Mr. Sharma also ceased to be a member of the Nomination and Remuneration Committee. This is a routine administrative update as the cessation is due to the natural end of his term rather than resignation or removal. Given the company's micro-cap status (Rs 5 Cr) and negligible TTM revenue (Rs 0 Cr), this management change has minimal operational impact.

Mr. Aditya Sharma completed his 5-year term as Independent Director effective June 27, 2026.
The director held 0 shares in the company at the time of his departure.
The appointment originally commenced on June 28, 2021.
Company reported TTM revenue of Rs 0 Cr and a net loss of Rs 0.16 Cr for FY26.
The cessation is strictly due to tenure completion with no other material reasons cited.

💡 Investors should monitor the company's next board meeting announcement for the appointment of a replacement to ensure continued compliance with SEBI board composition norms.

Board Meeting on Aug 13, 2026, to Approve Q1 FY27 Financial Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 08 Aug 2026, 05:34 PM

Ashoka Refineries Ltd has scheduled a board meeting for August 13, 2026, to review and approve un-audited financial results for the quarter ended June 30, 2026. The company is a micro-cap with a market capitalization of only Rs 5 Cr and has reported negligible operational activity, with FY26 revenue at just Rs 0.04 Cr. The trading window for insiders has been closed since July 1, 2026, and will remain so until 48 hours after the results are declared. Given the company's history of losses and minimal revenue, the upcoming results are a routine regulatory requirement.

Board meeting scheduled for August 13, 2026, to approve Q1 results.
Financial results pertain to the first quarter ended June 30, 2026.
Trading window for insiders closed from July 1, 2026.
Company reported a total revenue of only Rs 0.04 Cr in FY26.
Market capitalization stands at a very low Rs 5 Cr.

💡 Monitor the Q1 results on August 13 to see if there is any change in the company's stagnant revenue profile, which was effectively zero in recent quarters.

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