Racing Victoria stewards are continuing investigations into a horse trained by Mike Moroney returning a positive test to a banned substance.

The Moroney-trained Equestria was tested following his win in a benchmark 64 class race at Bendigo on March 6.

Racing Analytical Services Limited reported a post-race urine sample contained Dexamethasone, a short acting corticosteroid.

The Flemington trainer was first informed of the irregularity on May 4.

Moroney has since been told of the confirmatory test result as stewards continue their investigations.