Suryachakra Power reports ₹3.83 lakh loss for Q1FY26
Suryachakra Power Corporation Limited reported a net loss of ₹3.83 lakh for Q1FY26 with no revenue from operations, while other income was ₹2.00 lakh. Total expenses rose to ₹5.83 lakh, primarily due to depreciation. The company, yet to commence business operations, is undergoing a takeover by Indo Aquatics Limited following NCLT approval.
*this image is generated using AI for illustrative purposes only.
Suryachakra Power Corporation Limited reported a net loss of ₹3.83 lakh for the first quarter ended June 30, 2025, with no revenue generated from operations. The company continues to face financial headwinds as it awaits the completion of a takeover process initiated by Indo Aquatics Limited following National Company Law Tribunal (NCLT) approval.
The Board of Directors approved the unaudited standalone financial results for Q1FY26 during a meeting held on July 15, 2025. The results were reviewed by the Statutory Auditors and the Audit Committee prior to approval. Sai and Co., Chartered Accountants, issued the Limited Review Report.
Financial Performance
The company recorded total income of ₹0.00 lakh for the quarter, while other income stood at ₹2.00 lakh. Total expenses for the period were ₹5.83 lakh, driven primarily by depreciation and amortisation expenses of ₹5.83 lakh. Finance costs for the quarter amounted to ₹0.01 lakh.
| Particulars | Quarter Ended 30-06-2025 (₹ in Lakhs) | Quarter Ended 31-03-2025 (₹ in Lakhs) | Year Ended 31-03-2025 (₹ in Lakhs) |
|---|---|---|---|
| Revenue from operations | 0.00 | 0.00 | 0.00 |
| Other income | 2.00 | 0.00 | 0.00 |
| Total income | 0.00 | 0.00 | 0.00 |
| Total expenses | 5.83 | 2.86 | 7.90 |
| Profit / (Loss) before tax | -3.83 | -2.86 | -7.90 |
| Net Profit / (Loss) for the period | -3.83 | -2.86 | -7.90 |
Operational Status
Suryachakra Power Corporation stated that it has not commenced any business operations yet. The paid-up equity share capital remained at ₹0.00 lakh, and Earnings Per Share (EPS) was reported as ₹0.00.
Corporate Update
The Limited Review Report noted that the NCLT, Hyderabad Bench, initiated liquidation proceedings against the company on September 1, 2022. Subsequently, the NCLT approved the sale of the company as a going concern to Indo Aquatics Limited on July 18, 2024. The acquirer has initiated the process for taking over the company, including changes in management and restructuring exercises. The company is currently in the process of obtaining the latest shareholding data from the Registrar & Transfer Agent.
What is the expected timeline for the completion of the takeover process by Indo Aquatics Limited?
What specific business operations or revenue streams does Indo Aquatics plan to initiate post-takeover?
How will the incoming management address the accumulated financial liabilities and ongoing depreciation costs?
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