Are Shree Rajasthan Syntex Ltd latest results good or bad?

Shree Rajasthan Syntex Ltd's latest financial results for the quarter ending December 2025 highlight significant operational challenges. The company reported net sales of ₹3.52 crores, which reflects a quarter-on-quarter decline of 2.22% from ₹3.60 crores in the previous quarter, although there was a year-on-year growth of 3.83% compared to ₹3.39 crores in the same quarter last year. The operational performance remains concerning, with an operating loss of ₹1.46 crores leading to an operating margin of negative 41.48%. This margin has worsened from negative 29.72% in the previous quarter, indicating a deepening operational distress. The company also recorded a net loss of ₹2.22 crores, which is a reduction from a larger loss of ₹2.78 crores in the prior quarter, suggesting some improvement in the loss figure, although the overall situation remains dire. Additionally, the company operates with negative shareholder equity of ₹0.86 crores, raising serious questions about its financial sustainability. The balance sheet shows a significant working capital deficit, with current assets of ₹2.83 crores against current liabilities of ₹15.62 crores, indicating potential liquidity issues. The company saw an adjustment in its evaluation, reflecting the ongoing operational difficulties and the lack of a clear turnaround strategy. Overall, the results underscore a business facing substantial challenges, with persistent losses and a deteriorating financial position.