ASIAN PETROPRODUCTS & EXPORTS

Trades in commodity chemicals and petrochemicals with an export orientation reflected in its registered name. FY26 revenue totalled Rs 67.50 crore, up 62% from Rs 41.67 crore in FY25, with filings noting that quarterly turnover was nil in the comparable prior-year quarters and operations effectively restarted during the year. Revenue is highly uneven — Rs 4,370.54 lakhs in Q2 FY26 against Rs 908.07 lakhs in Q3 FY26 — which filings describe as a "lumpy order book." The FY26 swing to a Rs 1.21 crore net profit (from a Rs 1.18 crore loss in FY25) ran on a 2.31% EBITDA margin; however, other equity remained negative at Rs (1,159.12) lakhs, reflecting accumulated losses, and operating cash flow stayed negative at Rs (142.55) lakhs. The reported cost shape lists employee cost at 1% of revenue and other operating expenses at 0.7%, with materials and depreciation each at 0%. Statutory auditors issued a qualified opinion citing non-compliance with TDS provisions, unreconciled TDS differences, and non-compliance with Ind AS 19 Employee Benefits.