Outcome of the Board Meeting held on February 14,2026.
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The Board of Directors of Suraj Industries Ltd approved the unaudited standalone and consolidated financial results for Q3 FY26 and 9M FY26 on February 14, 2026. On a standalone basis, revenue from operations fell to Rs 347.28 lakhs in Q3 FY26 (vs Rs 402.24 lakhs in Q3 FY25) and to Rs 1,890.74 lakhs for 9M FY26 (vs Rs 2,288.70 lakhs in 9M FY25), reflecting a revenue decline of around 17%. The company posted a standalone net loss of Rs 108.79 lakhs in Q3 FY26 and Rs 217.92 lakhs for 9M FY26 (vs Rs 71.11 lakhs loss in 9M FY25), with finance costs rising sharply to Rs 49.16 lakhs in Q3 from just Rs 2.45 lakhs a year ago. On a consolidated basis, revenue jumped sharply to Rs 7,628.33 lakhs in 9M FY26 (from Rs 2,288.70 lakhs) driven by its subsidiary Carya Chemicals, while share of profit from associate Shri Gang Industries contributed Rs 333.23 lakhs, helping narrow consolidated losses. The auditor issued an unqualified limited review report with no qualifications or emphasis of matter.
Shareholders should note that the core liquor business continues to lose money standalone, with widening losses and surging finance costs, which is a negative signal. The consolidated picture looks better on revenue but remains in the red for 9M FY26 overall, suggesting reliance on associate profits to mask weakness in the parent company's operations. This could weigh negatively on stock sentiment.