Suryo Foods & Industries Reports FY26 Net Loss of Rs 3,180 Thousand; CFO Resigns
Suryo Foods & Industries Limited reported a net loss of Rs 3,180 thousand for FY26, reversing a profit of Rs 2,487 thousand in FY25, as total income declined to Rs 5,479 thousand and total expenses surged to Rs 8,353 thousand. The company completed a rights issue of 29,70,000 equity shares at Rs 20 per share, boosting cash and cash equivalents to Rs 6,658 thousand. The Board also accepted the resignation of CFO Bijay Kumar Dash, effective May 4, 2026, citing personal commitments.
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Suryo Foods & Industries Limited announced its audited financial results for the quarter and year ended March 31, 2026, following a Board of Directors meeting held on May 4, 2026. The company reported a net loss of Rs 3,180 thousand for the financial year, a significant decline from the net profit of Rs 2,487 thousand recorded in the previous year ended March 31, 2025. The statutory auditors, Sanjit Mohanty & Co., issued an unmodified opinion on the audited financial results.
Financial Performance Overview
The standalone financial results reveal challenging operational conditions during FY26. Total income for the year stood at Rs 5,479 thousand, down from Rs 6,313 thousand in the previous year. The company reported no income from operations during the reported financial year, with all income classified under other income. Total expenses increased substantially to Rs 8,353 thousand in FY26 compared to Rs 3,974 thousand in FY25. This increase was primarily driven by other expenses, which rose to Rs 6,174 thousand from Rs 2,086 thousand in the previous year. Employee benefit expenses also increased to Rs 907 thousand from Rs 580 thousand, while depreciation and amortization expenses stood at Rs 1,272 thousand compared to Rs 1,308 thousand in the prior year.
The following table summarizes the key annual financial metrics:
| Metric: | Year Ended Mar 31, 2026 | Year Ended Mar 31, 2025 |
|---|---|---|
| Total Income (Rs in '000): | 5,479 | 6,313 |
| Total Expenses (Rs in '000): | 8,353 | 3,974 |
| Net Profit / (Loss) (Rs in '000): | (3,180) | 2,487 |
| Basic & Diluted EPS (Rs): | (0.46) | 0.63 |
| Paid-up Equity Share Capital (Rs in '000): | 69,300 | 39,600 |
Quarterly Performance
For the quarter ended March 31, 2026, the company reported a net loss of Rs 3,582 thousand, compared to a net profit of Rs 2,100 thousand in the same quarter of the previous year. Basic and diluted earnings per share for the quarter stood at (Rs 0.52), compared to Rs 0.53 in the corresponding quarter of the previous year. The paid-up equity share capital increased to Rs 69,300 thousand from Rs 39,600 thousand, reflecting the rights issue undertaken during the financial year.
| Metric: | Q4 FY26 | Q3 FY26 | Q4 FY25 |
|---|---|---|---|
| Total Income (Rs in '000): | 1,366 | 1,361 | 3,318 |
| Total Expenses (Rs in '000): | 4,652 | 1,948 | 1,366 |
| Net Profit / (Loss) (Rs in '000): | (3,582) | (587) | 2,100 |
| Basic & Diluted EPS (Rs): | (0.52) | (0.15) | 0.53 |
Balance Sheet and Cash Flow Position
The balance sheet as of March 31, 2026, shows total assets of Rs 38,244 thousand, compared to Rs 32,857 thousand in the previous year. Property, plant and equipment stood at Rs 24,557 thousand, while cash and cash equivalents increased significantly to Rs 6,658 thousand from Rs 315 thousand. Equity share capital increased to Rs 69,300 thousand from Rs 39,600 thousand, while other equity stood at (Rs 38,557) thousand compared to (Rs 65,079) thousand in the previous year.
The cash flow statement reveals a net cash inflow from financing activities of Rs 59,400 thousand, primarily from proceeds from the issue of equity shares through the rights issue. The company undertook a rights issue of 29,70,000 equity shares at a price of Rs 20 per share, including a premium of Rs 10 per share. Net cash outflow from operating activities was Rs 53,057 thousand, while net increase in cash and cash equivalents for the year stood at Rs 6,343 thousand.
| Cash Flow Item: | FY26 (Rs in '000) | FY25 (Rs in '000) |
|---|---|---|
| Net Cash from Operating Activities: | (53,057) | 634 |
| Net Cash from Investing Activities: | - | (1,142) |
| Net Cash from Financing Activities: | 59,400 | - |
| Net Increase / (Decrease) in Cash: | 6,343 | (508) |
| Closing Cash & Cash Equivalents: | 6,658 | 315 |
Board Decisions and Leadership Changes
The Board of Directors, in their meeting held on May 4, 2026, approved several key matters including the audited financial results, the report of the secretarial auditor for the financial year 2025-26, and the Monitoring Agency Report. The meeting commenced at 12:00 P.M. and concluded at 2:10 P.M. In a significant development, the Board accepted the resignation of Mr. Bijay Kumar Dash from the position of Chief Financial Officer of the company, effective from the close of business hours on May 4, 2026. The resignation was tendered due to personal commitments and pre-occupation. The information was submitted to BSE Limited in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Historical Stock Returns for Suryo Foods & Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.89% | +5.16% | +24.41% | -20.78% | +36.10% | +448.30% |
How will Suryo Foods & Industries deploy the Rs 59,400 thousand raised through the rights issue to revive operational income, given that the company reported zero revenue from operations in FY26?
With the CFO's sudden resignation and mounting losses, what succession plan does the Board have in place to stabilize financial leadership and restore investor confidence?
Given the sharp spike in 'other expenses' from Rs 2,086 thousand to Rs 6,174 thousand, what specific cost restructuring measures is management considering to prevent further margin deterioration in FY27?
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