PURSUANT TO SEBI CIRCULAR DATED DECEMBER 31ST 2024 READ WITH SEBI CIRCULAR NO. 20250102-4 DATED JANUARY 02 2025 WE ARE SUBMITTING HEREWITH THE INTEGRATED FILING (FINANCIAL) FOR THE QUARTER ....
Awaiting price reaction for this filing.
Ashoka Refineries Limited reported a sharp downturn in FY25 with revenue from operations falling to Rs 45.28 lakh from Rs 148.21 lakh in FY24, a drop of roughly 69%. The company swung from a small profit of Rs 1.69 lakh in FY24 to a net loss of Rs 16.68 lakh in FY25. Total expenses stood at Rs 149.91 lakh against total income of Rs 45.28 lakh, meaning costs far outpaced revenue. For Q4 FY25 alone, revenue was just Rs 1.85 lakh with a loss of Rs 5.12 lakh. The balance sheet shows negative other equity of Rs (81.96) lakh, reflecting accumulated losses, though total equity remains positive at Rs 258.23 lakh on the back of share capital. Operating cash flow turned positive at Rs 25.72 lakh (vs negative Rs 153.26 lakh last year), largely driven by recovery of receivables. The statutory auditor (Batra Deepak & Associates) issued an unmodified opinion with no key audit matters flagged. Notably, FY24 figures were audited by a previous auditor, indicating a change in statutory auditor.
Negative for shareholders — the company posted a full-year loss, revenue collapsed sharply, and other equity is in the red, suggesting accumulated losses. However, the clean audit opinion, positive operating cash flow, and very low debt (Rs 15 lakh) limit immediate solvency concerns. The auditor change is worth noting for governance scrutiny.