Suryo Foods & Industries reported a net loss of ₹1.87 lakh in the quarter ended June 2026, marking a reversal from the net profit of ₹1.85 lakh recorded during the corresponding quarter of the previous financial year. According to reports from Business Standard, this represents a complete turnaround in the company's financial performance compared to the same period last year. The loss per share stood at ₹0.03, compared to earnings per share of ₹0.05 in Q1 FY25, indicating the deterioration in shareholder value during the quarter.
The company reported zero sales for the quarter ended June 2026, which was also the case during the corresponding quarter of the previous financial year. As reported by Business Standard, this absence of revenue generation appears to be a key factor contributing to the company's financial challenges during the first quarter of FY27. Total income remained flat at ₹1.36 lakh, with revenue from operations remaining nil, indicating that the company's income was derived entirely from other sources during the quarter.
The financial results show a significant increase in operational costs, with total expenses rising to ₹1.55 lakh from ₹1.18 lakh in Q1 FY25, representing a 31.6% increase despite flat revenue performance. According to the company's unaudited financial results, the primary driver of this expense growth was other expenses, which increased to ₹1.05 lakh from ₹0.66 lakh in the previous year. This substantial increase in other expenses, while revenue remained unchanged, pressured the company's bottom line and contributed to the shift from profitability to losses.
The Board of Directors approved these unaudited financial results on August 10, 2026, alongside significant governance appointments to strengthen the company's leadership framework. Mr. Rajiv Kumar Moharana has been appointed as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective August 10, 2026. He brings over 15 years of experience in accounts and finance, holding degrees in Masters in Commerce and Master in Business Administration. The Board also recommended the re-appointment of Mrs. Annapurna Dash as a Non-Executive, Non-Independent Director, liable to retire by rotation, subject to shareholder approval at the upcoming AGM.
The company has scheduled its 37th Annual General Meeting for Monday, September 28, 2026, at 11:30 A.M. at its registered office in Bhubaneswar. The Register of Members and Share Transfer Books will remain closed from Tuesday, September 22, 2026, to Monday, September 28, 2026 to determine eligibility for the meeting. In compliance with SEBI regulations, the company appointed M/s. Saroj Ray & Associates as its Secretarial Auditor for FY 2026-27, with over 21 years of experience in conducting audits under Section 204 of the Companies Act, 2013. The financial results were reviewed by Sanjit Mohanty & Co., Chartered Accountants under Standard on Review Engagements (SRE) 2410.
