Angel Fibers cuts borrowings by Rs 8.09 crore in six months

Angel Fibers Limited reduced total borrowings by Rs 8.09 crore in the six months ended September 30, 2026, while net cash generated from operating activities reached Rs 9.07 crore. The company reported Rs 6.80 crore of long-term borrowing repayments and Rs 1.30 crore of short-term borrowing repayments during the period.

How much did Angel Fibers reduce its borrowings?

Angel Fibers reduced aggregate long-term and short-term borrowings to Rs 26.36 crore at September 30, 2026, from Rs 34.45 crore at March 31, 2026. Long-term borrowings fell by Rs 6.80 crore to Rs 12.35 crore, while short-term borrowings declined by Rs 1.30 crore to Rs 14.00 crore. The balance-sheet reduction was recorded alongside Rs 8.10 crore of repayment cash flows in the half-year cash-flow statement.

The repayment pattern differed from the corresponding six months ended September 30, 2025. Angel Fibers reported Rs 21.87 crore of long-term borrowing repayments in that earlier period but a Rs 19.69 crore increase in short-term borrowings, producing a Rs 3.42 crore net financing outflow. In the latest six months, both borrowing categories declined and financing activities used Rs 8.88 crore, including Rs 77.87 lakh of finance costs paid.

The reduction coincided with a debt-equity ratio of 0.82 at September 30, 2026, compared with 1.18 at March 31, 2026. Share capital remained Rs 25.00 crore, while reserves and surplus rose to Rs 7.27 crore from Rs 4.24 crore. The company therefore reported a Rs 3.03 crore increase in reserves and surplus during the same six-month period.

What operating cash did Angel Fibers generate in the half year?

Angel Fibers generated net operating cash flow of Rs 9.07 crore in the six months ended September 30, 2026, compared with Rs 3.43 crore in the corresponding six months ended September 30, 2025. The operating inflow exceeded the Rs 8.88 crore used in financing activities, while investing activities used Rs 17.74 lakh and closing cash and cash equivalents were Rs 18.49 lakh.

Profit before tax was Rs 4.34 crore for the latest six months, versus Rs 2.40 crore a year earlier. Adding back Rs 2.34 crore of depreciation and amortisation and Rs 77.87 lakh of finance costs, while deducting Rs 2.89 lakh of interest income from current investments, resulted in operating profit before working-capital changes of Rs 7.44 crore. Cash generated from operations was Rs 10.25 crore before direct taxes of Rs 1.17 crore.

Angel Fibers reported net profit of Rs 3.03 crore for the six months ended September 30, 2026, against Rs 1.73 crore in the corresponding prior-year period. Revenue from operations was Rs 106.18 crore, down from Rs 110.49 crore a year earlier. Operating cash flow increased by Rs 5.64 crore despite the Rs 4.31 crore decline in revenue from operations.

How did working capital affect Angel Fibers cash generation?

Angel Fibers recorded an overall working-capital cash contribution, although trade receivables and short-term loans and advances used cash during the six months ended September 30, 2026. Inventory released Rs 82.31 lakh, other current assets released Rs 2.36 crore and trade payables added Rs 2.21 crore. These movements were partly offset by a Rs 1.04 crore increase in trade receivables and a Rs 1.99 crore increase in short-term loans and advances.

The balance sheet shows trade receivables rising to Rs 9.63 crore at September 30, 2026 from Rs 8.59 crore at March 31, 2026. Short-term loans and advances increased to Rs 6.03 crore from Rs 4.04 crore. Inventory, by contrast, declined to Rs 23.53 crore from Rs 24.35 crore, consistent with the inventory-related cash inflow reported in the cash-flow statement.

The corresponding prior-year period had a different working-capital mix. In the six months ended September 30, 2025, short-term loans and advances consumed Rs 4.11 crore, inventory consumed Rs 90.33 lakh and trade receivables consumed Rs 48.34 lakh. In the latest period, the increase in advances was lower at Rs 1.99 crore and inventory became a Rs 82.31 lakh source of cash.

What do Angel Fibers' repayment and coverage figures show?

Angel Fibers reported an interest service coverage ratio of 6.41 for the six months ended September 30, 2026, compared with 2.01 for the preceding six months ended March 31, 2026. The company defines the ratio as earnings before interest and tax divided by interest expense. Finance costs were Rs 77.87 lakh in the latest half year, compared with Rs 2.00 crore in the preceding six months.

The debt service coverage ratio was 1.53 in the latest period, compared with 1.15 in the preceding six months and 1.66 in the corresponding six months ended September 30, 2025. Angel Fibers defines this measure as earnings before interest and tax plus depreciation divided by interest expense plus principal repayment of long-term loans. The latest ratio therefore incorporates the Rs 6.80 crore long-term borrowing repayment and the period's finance costs.

Cash and cash equivalents increased to Rs 18.49 lakh at September 30, 2026 from Rs 16.60 lakh at the start of the period. The Rs 1.89 lakh increase followed the Rs 9.07 crore operating inflow, Rs 17.74 lakh investing outflow and Rs 8.88 crore financing outflow. The filing identifies the financing outflow as borrowing movements and finance costs paid.

Conclusion

Angel Fibers reported lower long-term and short-term borrowings over the six months ended September 30, 2026, with the reported balance-sheet decline amounting to Rs 8.09 crore. Operating cash flow rose to Rs 9.07 crore from Rs 3.43 crore a year earlier, even as revenue from operations fell to Rs 106.18 crore from Rs 110.49 crore.

The filing does not disclose a borrowing target or future repayment schedule. The next results will show whether Angel Fibers can sustain cash generation while trade receivables of Rs 9.63 crore and short-term loans and advances of Rs 6.03 crore remain above their March 31, 2026 balances.