News Earnings Ashoka Refineries Reports Q3FY26 Results with Reduced Loss Despite Revenue GrowthAshoka Refineries Reports Q3FY26 Results with Reduced Loss Despite Revenue Growth
Ashoka Refineries Limited reported Q3FY26 results showing a reduced net loss of ₹3.99 lakhs compared to ₹5.33 lakhs in Q3FY25, despite revenue growth to ₹2.79 lakhs from ₹1.85 lakhs. However, nine-month performance revealed significant challenges with revenue declining 91.1% to ₹2.79 lakhs from ₹31.34 lakhs in the previous year. The Board approved these unaudited results on February 13, 2026, following Audit Committee review and statutory auditor's limited review.
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Ashoka Refineries Limited has announced its unaudited standalone financial results for the quarter and nine months ended December 31, 2025. The Raipur-based company's Board of Directors approved the results at a meeting held on February 13, 2026, following review by the Audit Committee.
Quarterly Financial Performance
The company's financial performance for Q3FY26 showed mixed results compared to the previous year. While the net loss improved, operational challenges persisted across various expense categories.
| Financial Metric: | Q3FY26 | Q3FY25 | Change |
|---|---|---|---|
| Revenue from Operations: | ₹2.79 lakhs | ₹1.85 lakhs | +50.8% |
| Total Expenses: | ₹6.79 lakhs | ₹7.18 lakhs | -5.4% |
| Net Loss: | ₹3.99 lakhs | ₹5.33 lakhs | Improved by ₹1.34 lakhs |
| Basic EPS: | ₹(0.12) | ₹(0.16) | Improved |
Nine-Month Performance Analysis
The nine-month results revealed significant operational challenges, with a substantial decline in revenue compared to the previous year. The company's performance during the April-December period highlighted ongoing business difficulties.
| Parameter: | 9M FY26 | 9M FY25 | Variance |
|---|---|---|---|
| Revenue from Operations: | ₹2.79 lakhs | ₹31.34 lakhs | -91.1% |
| Total Expenses: | ₹14.16 lakhs | ₹42.90 lakhs | -67.0% |
| Net Loss: | ₹11.37 lakhs | ₹11.56 lakhs | Improved by ₹0.19 lakhs |
| Basic EPS: | ₹(0.33) | ₹(0.34) | Marginal improvement |
Expense Structure and Cost Management
The company's expense breakdown for Q3FY26 showed varying trends across different cost categories:
- Purchase of Stock in Trade: ₹2.10 lakhs (Q3FY26) vs ₹1.69 lakhs (Q3FY25)
- Employee Benefits: ₹2.34 lakhs vs ₹2.76 lakhs in the previous year
- Other Expenses: ₹1.88 lakhs compared to ₹2.74 lakhs in Q3FY25
- Changes in Inventories: ₹0.47 lakhs in Q3FY26
Corporate Governance and Compliance
The financial results were prepared in accordance with Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013. The statutory auditors, Batra Deepak and Associates, conducted a limited review under Regulation 33 of SEBI LODR Regulations and provided an unqualified report.
Key compliance highlights include:
- Audit Committee review completed prior to Board approval
- Results approved by Board of Directors on February 13, 2026
- Meeting duration: 5:05 PM to 5:30 PM
- Unmodified audit opinion received from statutory auditors
Capital Structure
Ashoka Refineries maintained a stable capital structure with paid-up share capital of ₹340.19 lakhs, consisting of equity shares with a par value of ₹10 each. The company's reserve position excluding revaluation reserves remained unchanged during the reporting period.
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