IS it Possible to display bmp image read from SDRAM

Yes it's possible.. But you have to do the work to make it happen.

If you already have the BMP decoded in SRAM, you just need to send to to the VGA DAC's with the appropriate timing. for the resolution in question..

A place to start is:

http://en.wikipedia.org/wiki/video_graphics_array

This place has all the correct video timings for different display resolutions.

http://tinyvga.com/vga-timing

The OLD crt displays were much more forgiving than new LCD panels on display timing. If you aren't close, most likely they will just remain blank.

Get the timing correct, you should start seeing an image.

I would just try a constant color frame first, until you get the display up, then move forward with the bmp data.

Pete