Basilic Fly Studio H1 operating cash flow is Rs 2.8 crore

Basilic Fly Studio Limited reported consolidated net cash from operating activities of Rs 2.8 crore in H1-FY27, after Rs 25 crore of working-capital outflows and Rs 7.5 crore of income-tax payments reduced Rs 35.3 crore of operating profit before working-capital changes. The presentation does not provide H1-FY26 cash flow, so it does not support a like-for-like year-on-year half-year comparison.

Why was Basilic Fly Studio's operating cash flow Rs 2.8 crore?

Basilic Fly Studio's H1-FY27 operating cash flow was Rs 2.8 crore because Rs 10.3 crore of cash generated from operations was reduced by Rs 7.5 crore of income taxes. Operating profit before working-capital changes was Rs 35.3 crore, meaning working-capital movements absorbed Rs 25 crore during the six-month period.

The presentation reports Rs 22.9 crore of net operating cash flow for FY26 and Rs 20 crore for FY25, compared with Rs 2.8 crore in H1-FY27. Those figures show a lower cash inflow in the reported half year, but FY25 and FY26 are full-year periods while H1-FY27 is a partial-year period. No H1-FY26 figure is supplied.

Basilic Fly Studio's operating profit before working-capital changes fell to Rs 35.3 crore in H1-FY27 from Rs 97.5 crore in FY26, while cash generated from operations fell to Rs 10.3 crore from Rs 27 crore. Tax payments were also higher than the FY26 full-year amount, at Rs 7.5 crore against Rs 4.1 crore, further reducing the reported operating cash inflow.

Which working-capital accounts used Basilic Fly Studio's cash?

Basilic Fly Studio's largest H1-FY27 working-capital cash outflow was Rs 18.4 crore related to other non-current assets, followed by Rs 17.5 crore from trade payables and Rs 9.6 crore from trade receivables. These outflows were partly offset by Rs 18 crore from other current liabilities and Rs 4.5 crore from other financial liabilities.

Trade receivables generated an Rs 9.6 crore cash outflow in H1-FY27, compared with an Rs 67.4 crore outflow in FY26. On the consolidated balance sheet, trade receivables stood at Rs 145.6 crore at H1-FY27, up from Rs 138.2 crore at FY26, while other current assets rose to Rs 130.3 crore from Rs 111.9 crore.

Trade payables fell to Rs 6 crore at H1-FY27 from Rs 23.6 crore at FY26, alongside the Rs 17.5 crore cash outflow recorded in the working-capital bridge. Other current liabilities increased to Rs 50.9 crore from Rs 32.8 crore and produced an Rs 18 crore inflow. The statement therefore shows offsetting movements across liabilities, rather than operating profit translating directly into cash.

How did Basilic Fly Studio's earnings change in H1-FY27?

Basilic Fly Studio reported Rs 210.9 crore of revenue from operations and Rs 37 crore of operating earnings before interest, tax, depreciation and amortisation, or EBITDA, in H1-FY27. Operating EBITDA margin was 17.54%, compared with 20.89% in FY26, while profit after tax was Rs 13.9 crore and its reported margin was 6.55%, against 12.09% in FY26.

Profit before tax was Rs 15.7 crore in H1-FY27, compared with Rs 66.2 crore in FY26, and depreciation and amortisation was Rs 13.8 crore against Rs 16.3 crore. In calculating cash flow, Basilic Fly Studio added back Rs 13.8 crore of depreciation and amortisation, Rs 3.2 crore of interest expense and Rs 1.7 crore of lease-liability interest, while deducting Rs 1.3 crore of interest income.

The supplied figures compare a six-month H1-FY27 result with a full FY26 result, so they do not establish a like-for-like revenue or margin trend. However, employee cost was Rs 137.7 crore in H1-FY27, equal to 65.29% of sales, versus 63.66% in FY26. Employee strength was 777 at H1-FY27, compared with 775 at FY26.

What happened to Basilic Fly Studio's investing and financing cash flows?

Basilic Fly Studio reported a Rs 1.6 crore net decrease in cash and cash equivalents before a Rs 0.5 crore exchange gain in H1-FY27. Operating activities contributed Rs 2.8 crore, investing activities contributed Rs 2.7 crore and financing activities used Rs 7.1 crore; closing cash and cash equivalents were Rs 43.4 crore, compared with Rs 44.5 crore at the opening.

Investing activities generated Rs 2.7 crore in H1-FY27, compared with an Rs 86.3 crore outflow in FY26. The half-year figure included Rs 7.5 crore from a decrease in bank deposits and Rs 1.3 crore of interest received, offset by Rs 6.1 crore of purchases of fixed and intangible assets. The statement records no goodwill purchase in H1-FY27, whereas FY25 included a Rs 77.5 crore goodwill purchase.

Financing activities used Rs 7.1 crore in H1-FY27, compared with a Rs 78.2 crore inflow in FY26. H1-FY27 included Rs 3.2 crore of interest paid, Rs 4 crore of lease-principal repayment and Rs 1.7 crore of lease-interest payment, partly offset by a Rs 2.3 crore increase in short-term borrowings. Basilic Fly Studio reported no equity-share proceeds in H1-FY27, while FY26 included Rs 81.7 crore of such proceeds.

How did Basilic Fly Studio's balance-sheet positions change?

Basilic Fly Studio's consolidated total assets were Rs 549.1 crore at H1-FY27, up from Rs 536.9 crore at FY26, while shareholder funds increased to Rs 358.7 crore from Rs 344.1 crore. Current assets rose to Rs 341.2 crore from Rs 324 crore, including the increase in receivables to Rs 145.6 crore.

Current liabilities were Rs 131.6 crore at H1-FY27, compared with Rs 130.2 crore at FY26. Short-term borrowings increased to Rs 40.8 crore from Rs 38.4 crore, while trade payables declined to Rs 6 crore from Rs 23.6 crore. Other current liabilities increased to Rs 50.9 crore from Rs 32.8 crore, matching the direction of the cash-flow statement's Rs 18 crore inflow from that line.

Conclusion

Basilic Fly Studio generated Rs 2.8 crore of consolidated operating cash flow in H1-FY27, with Rs 25 crore of working-capital absorption and Rs 7.5 crore of tax payments reducing the cash available from Rs 35.3 crore of operating profit before working-capital changes. The reported result was below the Rs 22.9 crore operating inflow in FY26, although the presentation compares a half year with full-year periods rather than providing a prior-year half-year figure.

The next reported cash-flow statement will clarify whether receivables above the FY26 level of Rs 138.2 crore, other non-current asset movements of Rs 18.4 crore and the reduction in trade payables continue to affect cash conversion. It will also show whether the Rs 18 crore inflow from other current liabilities, which reached Rs 50.9 crore at H1-FY27, remains a material offset to those outflows.