We have tried dinner at Nila residency near railway station (should be walkable from station)
I'd say food quality (north indian dishes) is excellent . Though it's bar and restaurant , bar is separately placed so no disturbance in restaurant.
Also, there are couple of ATM's present just opposite to station.

Shoranur Junction is the largest railway station in Kerala located at Shoranur, Palakkad District. The station stands at the junction of four railway lines, one from each direction. This is the busiest railway junction in Kerala, as most of the major trains running through the state pass either through the railway station or the link line.

Our train 16860 MAQ-MS EXP was expected to arrive at 1:25pm till 1:20PM no announcement /board written was made which platform it arrive. Luckily that day through this site I knew it will arrive on pt. 4 while others were in hurry, jostling , pulling each other in staircase and came down to pt.4 since 2 mins of train arr. So at least board written can be made. So people who are boarding can use this site can board the train

I was there for 6 hrs in transit. Even the arrival or departure of express train was not announced while it was on platform. but frequent announcement for 56621/Shoranur Nilambur Road Passenger train was made. Crazy station.

Passengers from Mangalore & beyond (towards Mumbai) can alight here to catch a connecting train to Palghat, Coimbatore & beyond. A alternative and better connecting point is Thrissur around 30 kms from here due to large number of trains passing by. Most of the trains make a rake reversal at SRR.