Ashoka Refineries Limited incorporated in October, 1991 and later on, was converted into a Public Limited Company in 1994. The main objects of the Company is to carry on business to import export buy, sell, cargo handling, manufacture and refine prepare and deals in oil and oil substances and to setup oil extraction and refine oil plant, and to undertake wholesale and retail business or indenting of all kinds of all products.

Due to non-renewal of C & F activities, the revenue substantially declined during the year 2009-10. the Company started a new line of business and is presently engaged in trading of goods and providing consulting services in 2020-21.