Suraj Industries revenue more than triples to Rs 100.06 crore

Suraj Industries Limited reported consolidated revenue from operations of Rs 100.06 crore for the quarter ended September 30, 2026, more than triple the Rs 31.30 crore reported a year earlier. Revenue also exceeded the Rs 72.78 crore recorded in the June 2026 quarter, while total expenses rose to Rs 93.83 crore.

How did Suraj Industries’ September-quarter revenue change?

Suraj Industries’ consolidated revenue from operations rose by Rs 68.76 crore year on year to Rs 100.06 crore in the quarter ended September 30, 2026, from Rs 31.30 crore in the corresponding 2025 quarter. The September 2026 figure was about 3.2 times the year-earlier level and was Rs 27.28 crore above the Rs 72.78 crore reported for the quarter ended June 30, 2026.

Total expenses were Rs 93.83 crore in the September 2026 quarter, compared with Rs 68.53 crore in June 2026 and Rs 31.71 crore in September 2025. Other income was Rs 4.79 lakh, against Rs 3.11 lakh in the preceding quarter and Rs 1.56 lakh a year earlier. The filing therefore shows that expenses increased alongside the higher revenue reported in the September quarter.

Suraj Industries reported profit before exceptional items, share of associate profit or loss, and tax of Rs 76.67 lakh for the September 2026 quarter. This compared with Rs 4.28 crore in the June 2026 quarter and a loss of Rs 9.46 lakh in September 2025. The company’s disclosed exceptional item and change in associate accounting mean these measures are not all like-for-like operating comparisons.

What did Suraj Industries report for the first half?

Suraj Industries reported consolidated revenue from operations of Rs 172.84 crore for the half year ended September 30, 2026, up from Rs 45.70 crore in the corresponding half of 2025. The increase was Rs 127.14 crore, with the September quarter contributing Rs 100.06 crore and the June quarter contributing Rs 72.78 crore.

Total expenses for the half year were Rs 162.37 crore, compared with Rs 48.09 crore in the prior-year half. The half-year result included an exceptional gain of Rs 79.17 lakh, net of tax, related to the June 6, 2026 cessation of Shri Gang Industries & Allied Products Limited as an associate of the group.

Suraj Industries said its trading operations have been discontinued and its business now falls within one primary segment: liquor, including alcohol and alcoholic beverages. It said segment disclosures under Indian Accounting Standard 108, or Ind AS 108, were therefore not applicable to the consolidated results for the period ended September 30, 2026.

What changed in Suraj Industries’ balance sheet?

Suraj Industries reported consolidated total assets of Rs 398.70 crore at September 30, 2026, compared with Rs 344.53 crore at March 31, 2026. Property, plant and equipment increased to Rs 290.71 crore from Rs 56.68 crore, while capital work in progress was Rs 2 lakh at September 30 compared with Rs 189.30 crore at the March year-end.

Inventories rose to Rs 20.81 crore at September 30, 2026 from Rs 6.20 crore at March 31, while trade receivables increased to Rs 3.67 crore from Rs 2.26 crore. Other current assets were Rs 11.28 crore, compared with Rs 5.18 crore at the March 2026 year-end. Total current assets, however, declined to Rs 51.72 crore from Rs 72.74 crore.

Cash and bank balances were Rs 6.01 lakh at September 30, 2026, compared with Rs 4.99 crore at March 31, 2026. The consolidated cash-flow statement for the half year ended September 30 also records movements in borrowings, lease liabilities, shares issued and finance costs, but the filing does not provide a management narrative that allocates the change in cash to specific decisions.

Why did Suraj Industries record an exceptional gain?

Suraj Industries recorded an unrealised remeasurement gain of Rs 79.17 lakh, net of tax, in profit and loss after Shri Gang Industries & Allied Products Limited ceased to be an associate on June 6, 2026. The consolidated notes say the associate relationship ended following an increase in the associate company’s equity share capital.

The group discontinued equity-method accounting under Ind AS 28 and reclassified its retained investment as a financial asset measured at fair value under Ind AS 109. Suraj Industries identified the Rs 79.17 lakh gain as an exceptional item, separating it from the liquor business revenue of Rs 172.84 crore for the half year ended September 30, 2026.

Suraj Industries also recognised a subsequent unrealised fair-value gain of Rs 4.60 crore in other comprehensive income through September 30, 2026. The recognition followed an irrevocable fair value through other comprehensive income election under Ind AS 109. The limited-review report lists Carya Chemicals & Fertilizers Private Limited as a subsidiary and VRV Foods Limited as an associate.

How were Suraj Industries’ results reviewed?

Suraj Industries’ Audit Committee and Board of Directors reviewed and approved the consolidated unaudited results on November 14, 2026. The company said the results were prepared under the Companies (Indian Accounting Standards) Rules, 2015, as amended, and accounting requirements under Section 133 of the Companies Act, 2013.

Pawan Shubham & Co issued its limited-review report on November 14, 2026 under Standard on Review Engagements 2410. The auditor said nothing had come to its attention indicating that the statement had failed to make required disclosures under Regulation 33 of the Listing Regulations or contained a material misstatement. It also stated that a review provides less assurance than an audit and does not express an audit opinion.

Conclusion

Suraj Industries’ September-quarter revenue reached Rs 100.06 crore, up Rs 68.76 crore from a year earlier, while first-half revenue reached Rs 172.84 crore. The higher revenue coincided with Rs 93.83 crore of quarterly expenses, an increase in property, plant and equipment to Rs 290.71 crore, and lower total current assets of Rs 51.72 crore.

The next results will show whether quarterly revenue remains near the September 2026 level after liquor became the sole primary segment. Readers can also monitor the continuing valuation effects of the retained investment in Shri Gang Industries & Allied Products Limited, after Suraj Industries recognised a Rs 4.60 crore unrealised gain in other comprehensive income through September 30, 2026.