Shree Rajiv Lochan Oil Extraction Ltd Reports Financial Results and Appoints New Auditors Amid Business Transformation

Shree Rajiv Lochan Oil Extraction Ltd Reports Financial Results and Appoints New Auditors Amid Business Transformation​

Shree Rajiv Lochan Oil Extraction Limited has released its audited financial results for the quarter ended March 31, 2026. The company also announced the appointment of new secretarial and internal auditors. These results were reported against a backdrop of operational transformation, as the company's principal manufacturing plant has been disposed of.

The Board of Directors, at a meeting held on May 29, 2026, approved the audited financial results for the quarter ended March 31, 2026. Furthermore, the board appointed Samantrai Prashant & Co. as the secretarial auditor for the Financial Year 2025-2026 and Goel & Goyal as the internal auditors for the Financial Year 2026-2027.

Financial Performance Highlights (Quarter Ended March 31, 2026)​

The company's performance data for the quarter included figures reflecting a shift in business focus toward investment income, following the sale of its primary operating asset. Key financial metrics from the quarterly results include:


Looking at the year-to-date results up to March 31, 2026, the company reported Total Income of 25.83 Lakhs against 35.36 Lakhs in the previous corresponding period. The profit for the period from continuing operations stood at 6.87 Lakhs, compared to a loss of 12.68 Lakhs in the previous year.

Financial Position and Audit Findings​

The Standalone Statement of Assets and Liabilities as of March 31, 2026, showed Total Assets amounting to 535.71 Lakhs. The company's equity structure included Equity Share capital of 301.80 Lakhs and Other Equity of 209.59 Lakhs, resulting in a total equity and liability figure of 535.71 Lakhs.

The cash flow analysis for the year ended March 31, 2026, showed that Cash generated from operations amounted to 196.40 Lakhs, leading to a Net Cash flow in the course of Operating Activities of 167.54 Lakhs.

A significant finding arose from the independent auditor's report regarding the company's operational status. The auditors noted that the company had disposed of its principal manufacturing plant and was not conducting significant operating activities, having primarily generated income from investments subsequent to the disposal.

Due to this transition, the auditor issued a Disclaimer of Opinion on the financial statements, stating they were unable to obtain sufficient appropriate audit evidence regarding the appropriateness of management's use of the going concern basis of accounting in preparing the results.

Management’s Response to Going Concern Concerns​

In response to the assessment by the auditors, management stated that the immediate impact of the transition was estimated at nil. The company outlined several reasons for its inability to precisely quantify potential future adjustments related to the going concern assumption. These included the strategic business transition—as legacy operations ceased due to market shifts—the fluidity of future cash flows while new business models were under evaluation, and the premature nature of formal documentation before commercial contracts or new frameworks are finalized.

The auditors noted that since sufficient appropriate audit evidence supporting the company's ability to continue as a going concern was not made available for their audit, they could not evaluate the adequacy of these reasons or comment on any possible financial impact.

Stock Price Movement​

At Friday’s market close, shares of Shree Rajiv Lochan Oil Extraction Ltd settled at ₹22.08, maintaining zero change from the previous trading day. The stock remained completely locked through the session, as its intraday high and low were both registered at this price point.