Bimetal Bearings current borrowings triple as working capital builds

Bimetal Bearings Limited reported current borrowings of Rs 10.93 crore at September 30, 2026, up from Rs 3.06 crore at March 31, 2026, as standalone trade receivables rose by Rs 14.57 crore and inventories increased by Rs 11.29 crore during the six months. The September balance-sheet figures were unaudited.

How much did Bimetal Bearings' current borrowings increase?

Bimetal Bearings' current borrowings increased by Rs 7.87 crore to Rs 10.93 crore at September 30, 2026, from Rs 3.06 crore at March 31, 2026. The increase was about 257%, taking the borrowing balance to more than three times the March 31 level in the standalone statement of assets and liabilities.

Total current liabilities rose by Rs 35.51 crore to Rs 95.53 crore over the same six-month period, from Rs 60.02 crore at March 31. Current borrowings were one component of this movement, alongside higher trade payables and other financial liabilities, which rose by Rs 1.11 crore to Rs 3.69 crore.

Total assets increased by Rs 37.41 crore to Rs 332.15 crore at September 30 from Rs 294.74 crore at the March year-end. Total liabilities increased by Rs 36.44 crore to Rs 108.04 crore, while total equity rose by Rs 0.97 crore to Rs 224.11 crore, reflecting that liabilities accounted for most of the balance-sheet increase.

Which working-capital balances rose in the half year?

Bimetal Bearings' trade receivables rose by Rs 14.57 crore to Rs 74.06 crore at September 30, 2026, from Rs 59.50 crore at March 31. Inventories increased by Rs 11.29 crore to Rs 68.95 crore from Rs 57.66 crore, taking the combined increase in these two operating asset categories to Rs 25.86 crore.

Total current assets increased by Rs 31.35 crore to Rs 171.48 crore at September 30, compared with Rs 140.13 crore at March 31. Other financial assets increased by Rs 7.32 crore to Rs 13.63 crore, while cash and cash equivalents rose by Rs 2.03 crore to Rs 3.82 crore.

Current investments moved in the opposite direction, declining by Rs 2.57 crore to Rs 7.50 crore at September 30 from Rs 10.07 crore at March 31. The receivables increase of Rs 14.57 crore was larger than the Rs 11.29 crore inventory increase, while the filing does not identify customers, products or contracts behind either movement.

How did Bimetal Bearings' payables change?

Bimetal Bearings' trade payables to creditors other than micro enterprises and small enterprises increased by Rs 26.37 crore to Rs 76.77 crore at September 30, 2026, from Rs 50.40 crore at March 31. Dues to micro enterprises and small enterprises declined by Rs 0.16 crore to Rs 1.94 crore.

The Rs 26.37 crore increase in payables to other creditors exceeded the Rs 25.86 crore combined increase in receivables and inventories. Total current liabilities increased by Rs 35.51 crore, more than the Rs 31.35 crore rise in current assets, based on the two reported balance-sheet dates.

Current lease liabilities declined to Rs 0.13 crore at September 30 from Rs 0.21 crore at March 31. Other current liabilities also fell by Rs 0.15 crore to Rs 0.76 crore, while net current tax liabilities increased by Rs 0.59 crore to Rs 1.10 crore.

What does Bimetal Bearings' cash-flow statement show about funding?

Bimetal Bearings reported net cash proceeds from current borrowings of Rs 7.87 crore in the six months ended September 30, 2026, compared with net cash use of Rs 5.50 crore from current borrowings in the corresponding 2025 period. The latest-period borrowing proceeds match the Rs 7.87 crore increase in current borrowings between March 31 and September 30, 2026.

Net cash from financing activities was Rs 2.18 crore in the latest six-month period, compared with net cash used of Rs 10.75 crore a year earlier. The 2026 financing cash flow included dividend payments of Rs 5.16 crore, interest paid of Rs 0.36 crore and lease-liability payments of Rs 0.16 crore.

Cash and cash equivalents closed at Rs 3.82 crore on September 30, 2026, compared with Rs 1.79 crore at the start of the financial year. The company reported a Rs 2.03 crore net increase in cash and cash equivalents during the six months, compared with a Rs 0.97 crore increase in the corresponding 2025 period.

Which Bimetal Bearings segment carried most of the balance-sheet increase?

Bimetal Bearings' Engine Bearings, Bushings and Thrust Washers segment held assets of Rs 249.77 crore at September 30, 2026, compared with Rs 218.53 crore at March 31. Its segment liabilities increased by Rs 35.49 crore to Rs 97.17 crore, from Rs 61.68 crore at the year-end.

Engineering and Project Services reported segment assets of Rs 13.12 crore at September 30, up from Rs 7.57 crore at March 31, while segment liabilities rose by Rs 0.38 crore to Rs 0.95 crore. Unallocable assets increased by Rs 0.62 crore to Rs 69.26 crore, and unallocable liabilities increased by Rs 0.56 crore to Rs 9.92 crore.

The Engine Bearings, Bushings and Thrust Washers segment generated six-month revenue of Rs 160.86 crore, compared with Rs 138.80 crore in the corresponding 2025 period. Engineering and Project Services contributed Rs 6.87 crore in six-month revenue, while the filing does not allocate receivables, inventories, payables or current borrowings between the two operating segments.

How did revenue and profit compare with the working-capital build-up?

Bimetal Bearings reported revenue from operations of Rs 167.73 crore for the six months ended September 30, 2026, up from Rs 138.80 crore in the corresponding 2025 period. The Rs 28.93 crore revenue increase occurred alongside the Rs 25.86 crore combined increase in receivables and inventories during the latest half year.

Profit before tax was Rs 7.44 crore for the six months ended September 30, 2026, compared with Rs 8.25 crore a year earlier. Profit after tax was Rs 5.61 crore, compared with Rs 6.17 crore in the corresponding period, while finance costs increased to Rs 0.38 crore from Rs 0.04 crore.

The standalone results identify manufacture and sale of engine bearings, bushings and thrust washers, and engineering and project services, as Bimetal Bearings' operating segments. They do not state whether the September working-capital balances reflect changes in customer payment timing, inventory composition, supplier-credit terms or segment-specific financing.

Conclusion

Bimetal Bearings expanded its current balance sheet during the six months ended September 30, 2026: receivables increased by Rs 14.57 crore, inventories by Rs 11.29 crore and trade payables to other creditors by Rs 26.37 crore. Current borrowings rose by Rs 7.87 crore to Rs 10.93 crore, and the cash-flow statement reports the same Rs 7.87 crore as net proceeds from current borrowings.

The unresolved issue is the composition and timing of the working-capital movement. Bimetal Bearings does not disclose customer-level receivable details, inventory categories, supplier-credit terms or a segment allocation of borrowings, receivables and payables; subsequent results can show whether these balances decline, remain elevated or convert into operating cash.