Ashish Polyplast Reports Audited Financial Results for Q4 and Full Year FY26
Ashish Polyplast Limited reported audited financial results for Q4 and full year FY26, with revenue from operations declining to Rs. 1,502.06 Lakhs in FY26 from Rs. 1,601.44 Lakhs in FY25, and net profit falling to Rs. 13.03 Lakhs from Rs. 24.78 Lakhs. Q4 FY26 recorded a net loss of Rs. 34.07 Lakhs, an improvement over the net loss of Rs. 39.87 Lakhs in Q4 FY25. Total assets grew to Rs. 954.32 Lakhs as at March 31, 2026, from Rs. 807.16 Lakhs a year earlier, while cash and cash equivalents rose to Rs. 48.10 Lakhs from Rs. 23.00 Lakhs. The statutory auditors issued an unmodified opinion on the results, which were approved at a Board meeting held on May 14, 2026.
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Ashish Polyplast Limited, an ISO 9001:2015 certified manufacturer of P.V.C. Premium Braided and Suction Hoses based in Ahmedabad, Gujarat, submitted its audited financial results for the fourth quarter and year ended March 31, 2026, to BSE Limited on May 14, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and approved by the Board of Directors at a meeting that commenced at 17:30 P.M. and concluded at 18:15 P.M. on Thursday, May 14, 2026. The statutory auditors, M.R. Pandhi & Associates, Chartered Accountants, issued an unmodified opinion on the audited financial results.
Quarterly Financial Performance
For the quarter ended March 31, 2026, the company reported revenue from operations of Rs. 404.95 Lakhs, compared to Rs. 366.09 Lakhs in Q4 FY25 and Rs. 354.23 Lakhs in Q3 FY26. Total revenue for Q4 FY26 stood at Rs. 364.21 Lakhs after accounting for other income of Rs. (40.74) Lakhs, which includes a net unrealised fair value loss of Rs. 43.36 Lakhs on investments in mutual funds measured at fair value through profit or loss (FVTPL) as per Ind AS 109. The company recorded a net loss of Rs. 34.07 Lakhs in Q4 FY26, an improvement over the net loss of Rs. 39.87 Lakhs in Q4 FY25.
The following table presents the quarterly and annual financial highlights (Rs. in Lakhs):
| Metric: | Q4 FY26 (31.03.2026) Audited | Q3 FY26 (31.12.2025) Unaudited | Q4 FY25 (31.03.2025) Audited | FY26 (31.03.2026) Audited | FY25 (31.03.2025) Audited |
|---|---|---|---|---|---|
| Revenue from Operations: | 404.95 | 354.23 | 366.09 | 1,502.06 | 1,601.44 |
| Other Income: | (40.74) | 11.13 | (47.44) | 0.50 | 13.22 |
| Total Revenue: | 364.21 | 365.36 | 318.65 | 1,502.57 | 1,614.66 |
| Total Expenses: | 403.00 | 345.90 | 367.00 | 1,484.08 | 1,576.58 |
| Profit/(Loss) Before Tax: | (38.79) | 19.46 | (48.34) | 18.49 | 38.08 |
| Net Profit/(Loss) After Tax: | (34.07) | 15.17 | (39.87) | 13.03 | 24.78 |
| Total Comprehensive Income: | (34.54) | 14.90 | (40.13) | 11.78 | 23.62 |
| Basic EPS (Rs.): | (1.00) | 0.45 | (1.17) | 0.38 | 0.73 |
| Diluted EPS (Rs.): | (1.00) | 0.45 | (1.17) | 0.38 | 0.73 |
Full Year FY26 Performance
For the full year ended March 31, 2026, Ashish Polyplast reported revenue from operations of Rs. 1,502.06 Lakhs, compared to Rs. 1,601.44 Lakhs in FY25. Total expenses for FY26 were Rs. 1,484.08 Lakhs against Rs. 1,576.58 Lakhs in FY25, with cost of materials consumed being the largest component at Rs. 1,240.60 Lakhs (FY25: Rs. 1,379.89 Lakhs). Net profit for FY26 stood at Rs. 13.03 Lakhs, down from Rs. 24.78 Lakhs in FY25. The company recognised a net unrealised fair value loss of Rs. 2.42 Lakhs for the year ended March 31, 2026 on mutual fund investments measured at FVTPL. Other Comprehensive Income for FY26 was Rs. (1.25) Lakhs, resulting in Total Comprehensive Income of Rs. 11.78 Lakhs compared to Rs. 23.62 Lakhs in FY25. The paid-up equity share capital remained unchanged at Rs. 339.75 Lakhs (face value of Rs. 10 each).
Balance Sheet Highlights
As at March 31, 2026, total assets of the company stood at Rs. 954.32 Lakhs, up from Rs. 807.16 Lakhs as at March 31, 2025. The following table summarises the key balance sheet figures (Rs. in Lakhs):
| Particulars: | As at 31.03.2026 | As at 31.03.2025 |
|---|---|---|
| Total Non-Current Assets: | 632.91 | 538.58 |
| Total Current Assets: | 321.41 | 268.58 |
| Total Assets: | 954.32 | 807.16 |
| Equity Share Capital: | 339.75 | 339.75 |
| Other Equity: | 343.77 | 331.99 |
| Total Equity: | 683.52 | 671.74 |
| Total Non-Current Liabilities: | 33.37 | 42.29 |
| Total Current Liabilities: | 237.42 | 93.13 |
| Total Liabilities: | 270.80 | 135.42 |
| Total Equity and Liabilities: | 954.32 | 807.16 |
Cash and cash equivalents improved significantly to Rs. 48.10 Lakhs as at March 31, 2026, from Rs. 23.00 Lakhs as at March 31, 2025. Property, plant and equipment increased to Rs. 271.67 Lakhs from Rs. 222.53 Lakhs, reflecting capital expenditure of Rs. 73.87 Lakhs during FY26.
Cash Flow Summary
The company generated net cash from operating activities of Rs. 28.93 Lakhs in FY26, compared to Rs. 61.15 Lakhs in FY25. Net cash used in investment activities was Rs. (121.37) Lakhs in FY26 versus Rs. (97.43) Lakhs in FY25, primarily on account of purchase of property, plant and equipment of Rs. (73.87) Lakhs and investment in mutual funds of Rs. (48.00) Lakhs. Cash flows from financing activities were Rs. 117.53 Lakhs in FY26, driven by proceeds from short-term borrowings of Rs. 135.00 Lakhs, resulting in a net increase in cash and cash equivalents of Rs. 25.10 Lakhs during the year.
Board Meeting and Compliance
The Board of Directors, at their meeting on May 14, 2026, also considered and approved several agenda items including review of minutes of prior committee meetings, compliance reports, continuation of internal financial auditors for FY26-27, and the secretarial audit report for the year ended March 31, 2026. The board recommended reappointment of statutory financial auditors for FY26-27, subject to shareholder approval at the ensuing Annual General Meeting. The company confirmed that no fraud or mismanagement of funds was noticed during the year, and no deviation in accounting of any financial or other transactions was made during the year. The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013, and the company operates in a single reportable segment — manufacturing and sale of PVC Pipes — as per Ind AS 108.
Historical Stock Returns for Ashish Polyplast
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.92% | -1.02% | -2.05% | -7.80% | -22.90% | +178.37% |
How will Ashish Polyplast deploy the Rs. 73.87 Lakhs capital expenditure made in FY26 to drive revenue recovery above the Rs. 1,601 Lakhs FY25 benchmark in the coming fiscal year?
Given the sharp rise in current liabilities from Rs. 93.13 Lakhs to Rs. 237.42 Lakhs driven by short-term borrowings, what is the company's strategy to manage refinancing risk and reduce its debt burden in FY27?
With recurring unrealised fair value losses on mutual fund investments distorting quarterly profitability, will management reconsider its investment policy or reallocate those funds toward core business operations?
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