BSE: 519174
ASHIANA AGRO INDUSTRIES LTD.
Trades in packaging materials as its single business segment, buying and reselling these goods to customers. Operations are small, with FY26 revenue of Rs 0.83 crore and total assets of Rs 2.69 crore. Despite being tagged under the edible oil industry, the company's own filings describe its activity as packaging materials trading. The cost structure is dominated by employee expenses (13% of revenue) and other operating expenses (13.9% of revenue), with materials cost reported at 0% of revenue. The balance sheet carries negative other equity of Rs 196.25 lakh against equity share capital of Rs 458.59 lakh, reflecting accumulated losses. The company has also deployed Rs 100 lakh as an inter-corporate loan to Diadem Enterprises at 10% per annum to earn interest on surplus cash while awaiting more profitable deployment. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading of packaging materials (100%). Very small, single-segment trading company with accumulated losses
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 1 | 1 | 1 | 1 |
| EBITDA (ex other income) | (0) | (0) | (0) | (0) | (0) |
| margin % | (19.1) | (24.2) | (6.1) | (10.4) | (12.8) |
| Owners' profit | 0 | (0) | 0 | 0 | 0 |
| EPS, as reported (₹) | 0.09 | (0.06) | 0.27 | 0.18 | 0.11 |
| ROE % · ROCE % | 1.7 · 1.7 | (1.1) · (1.1) | 4.9 · 5.1 | 3.3 · 4.4 | 1.9 · 2.6 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (0) | (0) | (0) | (0) | (0) |
| Capex | 0 | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 0 | (0) | 0 | 0 | 0 | (0) |
| Net profit | 0 | 0 | 0 | (0) | 0 | 0 | 0 | (0) |
| EPS (₹) | 0.03 | 0.04 | 0.04 | (0.01) | 0.04 | 0.04 | 0.04 | (0.03) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| MARICO LIMITED | 1,00,055 | 52.8 | 22.26 | 39.5 | 40.3 | 38.1 | 11.1 | 21.9 |
| PATANJALI FOODS LIMITED | 40,393 | 20.5 | 3.08 | 24.6 | 13.9 | 10.3 | — | 4.8 |
| AWL AGRI BUSINESS LIMITED | 21,415 | 18.5 | 2.05 | 8.2 | 10.0 | 11.1 | — | 3.8 |
| GOKUL AGRO RESOURCES LTD | 6,128 | 11.8 | 4.31 | 9.1 | 26.0 | 26.9 | 23.5 | 4.1 |
| CIAN Agro Ind & Infra Ltd | 2,551 | 7.9 | 1.15 | 7.2 | 10.0 | 7.7 | 53.1 | 32.3 |
| SUNDROP BRANDS LIMITED | 2,394 | 85.8 | 1.62 | 38.2 | 1.4 | 1.7 | — | 6.1 |
| Shri Venkatesh Refineries Limi | 1,659 | 33.5 | — | — | — | 22.2 | — | — |
| KN AGRI RESOURCES LIMITED | 472 | 10.5 | 1.23 | 8.6 | 8.2 | 11.4 | — | 4.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 138.9 | 17.6 | 28 of 28 | 0% |
| P/B | 2.2 | 1.2 | 19 of 25 | 25% |
| ROCE | 2.6 | 7.4 | 25 of 30 | 17% |
| ROE | 1.9 | 8.2 | 21 of 25 | 17% |
| Debt / Equity | 0.0 | 0.2 | 1 of 25 | 79% |
| EBITDA margin | (13.4) | 4.4 | 24 of 26 | 8% |
| Revenue growth | (32.6) | 5.0 | 22 of 25 | 13% |
| Profit growth | (200.0) | 27.1 | 23 of 23 | 0% |
| Market cap | 6 | 104 | 29 of 31 | 7% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 20 Oct 2026 · Routine quarterly certificate for dematerialisation of securities filed with BSE | compliance | minimal | — | — |
| 26 Sept 2026 · AGM 2026 Voting Results: All 3 Resolutions Passed with Overwhelming Majority | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Scrutinizer report for 36th AGM - all 3 resolutions passed | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Please find attached the AGM Minutes with Scrutinizer Report for your reference and record. | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Ashiana Agro Industries conducts 36th AGM via video conferencing | board shareholder meetings | low | — | — |
| 31 Aug 2026 · 36th AGM notice and Annual Report web link shared with shareholders | compliance | minimal | — | — |
| 31 Aug 2026 · Ashiana Agro FY26 Annual Report: PAT falls to Rs.5.05 lakh, no dividend | results | high | — | — |
| 24 Aug 2026 · Book Closure for AGM on Sept 25, 2026 | board shareholder meetings | low | — | — |
| 24 Aug 2026 · 36th AGM scheduled for 25 Sept 2026 via video conferencing | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Board approves Directors Report, fixes AGM on 25 Sept 2026 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.