Suryachakra reports Rs 10.17 lakh loss and no revenue

Suryachakra Power Corporation Limited reported no revenue from operations and a Rs 10.17 lakh net loss for the quarter ended September 30, 2026, while its post-insolvency takeover and capital restructuring remained incomplete. Total assets were Rs 74.03 lakh and Reddy Investments Private Limited held 100% of equity, leaving zero public shareholding.

What were Suryachakra’s September-quarter financial results?

Suryachakra recorded nil total income, Rs 10.17 lakh of total expenses and a Rs 10.17 lakh net loss in the quarter ended September 30, 2026. Revenue from operations and other income were both reported as nil, meaning that expenses were not offset by income in the quarter.

The quarterly loss widened from Rs 5.76 lakh for the quarter ended June 30, 2026. Employee-benefit expense increased to Rs 1.20 lakh from Rs 0.30 lakh, while other expenses rose to Rs 8.96 lakh from Rs 5.45 lakh; finance costs were nil in both periods. Basic and diluted loss per share was Rs 0.52 in September, compared with Rs 0.30 in June, and was not annualised.

For the half year ended September 30, 2026, Suryachakra reported a Rs 15.92 lakh loss, against a Rs 4.21 lakh loss in the corresponding 2025 period. Latest-half total expenses were Rs 15.92 lakh, including Rs 1.50 lakh in employee benefits and Rs 14.42 lakh in other expenses, while the prior-year half year included Rs 2 lakh of other income.

How did Suryachakra’s balance sheet change by September 2026?

Suryachakra’s total assets declined to Rs 74.03 lakh at September 30, 2026 from Rs 2.34 crore at March 31, 2026. Other current assets fell to Rs 30.13 lakh from Rs 1.54 crore and trade receivables reduced to Rs 0.53 lakh from Rs 37.08 lakh, while cash and cash equivalents were Rs 43.37 lakh versus Rs 43.11 lakh.

Total equity reduced to Rs 11.91 lakh from Rs 27.58 lakh over the six-month period. Equity share capital was Rs 1.94 crore at both reporting dates, but negative other equity increased to Rs 1.82 crore at September 30 from Rs 1.66 crore at March 31, alongside the Rs 15.92 lakh half-year loss.

Current liabilities decreased to Rs 62.12 lakh from Rs 2.07 crore at the March year-end. The earlier balance included Rs 1.75 crore of other current liabilities, Rs 30.95 lakh of other financial liabilities and Rs 1.20 lakh of trade payables; the September balance showed Rs 62.12 lakh of other current liabilities and nil amounts for the latter two categories.

Suryachakra generated Rs 0.27 lakh from operating activities during the half year despite the Rs 15.92 lakh pre-tax loss. The cash-flow statement recorded a Rs 36.55 lakh reduction in sundry debtors and a Rs 1.24 crore reduction in other current assets, partly offset by a Rs 1.13 crore decrease in other current liabilities and provisions. Closing cash increased by Rs 0.26 lakh to Rs 43.37 lakh.

What is the status of Suryachakra’s insolvency-sale takeover?

Suryachakra was sold as a going concern under a June 14, 2023 sale certificate for Rs 1.94 crore after the National Company Law Tribunal, Hyderabad Bench, initiated liquidation on September 1, 2022. The tribunal’s July 18, 2024 order approved directions to implement the sale to successful auction purchaser Indo Aquatics Limited.

Indo Aquatics assigned its acquisition rights, interests and obligations to Reddy Investments Private Limited on September 14, 2023 for Rs 1.99 crore. The results identify Reddy Investments as the effective owner at the reporting date. The limited review report says the management-change process has been completed, but the wider takeover, including records and papers, remains in process.

The filing says pre-existing paid-up capital of about Rs 149.63 crore, along with assets and liabilities at transfer, was reversed and the net balance moved to capital reserve under the insolvency process and tribunal orders. It says the Rs 1.94 crore received from Indo Aquatics was initially treated as share application money before shares were allotted to Reddy Investments.

The board deferred further deliberation on share-capital allotment on November 13, 2026 under the tribunal orders. The filing also presents Rs 1.94 crore of equity share capital in the September 2026 balance sheet, while a note refers to Rs 7,000 opening share capital after extinguishment of the pre-existing capital. It does not reconcile those two presentations.

Who owns Suryachakra and what changes are proposed?

Suryachakra reported that Reddy Investments holds 100% of its equity share capital, resulting in zero public shareholding at the date of the September 2026 results. The company proposes to induct public shareholders within applicable timelines and in compliance with Securities and Exchange Board of India listing regulations, to the extent applicable.

The statutory auditor’s limited review report dated November 13, 2026 drew attention to the zero-public-shareholding position and restructuring process, without modifying its conclusion. It also said Suryachakra was obtaining the latest shareholding data from its registrar and transfer agent.

The board approved proposed additions to the memorandum of association covering electric boats, electric marine vessels, charging stations, battery swapping, marine propulsion systems and related transport services. A separate proposed object covers Bio-CNG, compressed biogas, solar, wind, hydrogen, power generation, transmission, distribution and power trading activities.

Suryachakra scheduled an extraordinary general meeting for December 4, 2026 to seek shareholder approval for the memorandum amendments. The proposed changes remain subject to shareholder approval and any required statutory or regulatory approvals, while the November 13 board meeting also approved the September-quarter results.

Conclusion

Suryachakra’s September 2026 results show no reported operating income, a Rs 10.17 lakh quarterly loss and total assets of Rs 74.03 lakh, down from Rs 2.34 crore at March 31, 2026. Cash was broadly steady at Rs 43.37 lakh, but total equity reduced to Rs 11.91 lakh as negative other equity reached Rs 1.82 crore.

The next disclosed event is the December 4, 2026 extraordinary general meeting on the proposed object-clause amendments. The filing also leaves the capital-allotment decision deferred, the acquirer’s wider takeover process unfinished, and public-shareholder induction proposed within applicable timelines.