Are Suryo Foods & Industries Ltd latest results good or bad?

Suryo Foods & Industries Ltd's latest financial results reveal significant challenges for the company. In the third quarter of FY26, the company reported a net profit of -₹0.06 crores, marking a loss compared to a profit of ₹0.05 crores in the previous quarter. The operating revenue remains at ₹0.00 crores, indicating a complete cessation of business operations. This absence of sales revenue has persisted across all quarters of FY26, highlighting a critical operational void.
The financial statements also reflect negative shareholder equity, with a book value per share of -₹6.43, suggesting that the company's liabilities exceed its assets. This situation has resulted in a severe working capital deficit, as current liabilities of ₹2.19 crores surpass current assets of ₹0.64 crores. The company continues to incur operational losses, with an operating profit before depreciation, interest, and tax of -₹0.16 crores, which is the worst performance recorded in recent periods.

Additionally, Suryo Foods has shown a reliance on other income, which amounted to ₹0.14 crores in the latest quarter, to partially offset ongoing losses. However, this income source is not sustainable and does not stem from core business activities. The company's financial health is further compromised by its inability to generate any meaningful revenue from its original business model, which has effectively been abandoned.

Overall, Suryo Foods is facing a precarious financial situation, characterized by negative equity, zero operational revenue, and ongoing losses. The company has seen an adjustment in its evaluation, reflecting these underlying operational challenges and financial distress.