Callista subsidiary posts Rs 11.06 crore revenue, Rs 40.32 lakh loss

Callista Industries Limited’s packaging subsidiary reported Rs 11.06 crore of revenue and a Rs 40.32 lakh net loss for the half year ended September 30, 2026, in the group’s first consolidated reporting period after Callista acquired 100% of the business on August 14, 2026.

What did Callista’s packaging subsidiary report for the half year?

Callista’s packaging subsidiary recorded total revenue of Rs 11.06 crore and a net loss of Rs 40.32 lakh for the half year ended September 30, 2026. B K G & Associates disclosed those figures in its limited-review report on Callista’s consolidated unaudited results, referring to financial information reviewed by the subsidiary’s independent auditor.

The auditor’s entity list identifies the subsidiary as Sadguru Flexibles Packaging Ltd. Callista’s consolidated notes describe the acquired company as Callista Enterprises Limited, formerly known as Sadguru Flexibles Packaging Limited, and state that Callista acquired 100% of its shares through a Share Purchase Agreement executed on August 14, 2026.

Callista’s consolidated results separately show income from operations of Rs 12.08 crore for the half year ended September 30, 2026, plus other income of Rs 5.10 lakh. The filing does not provide a line-by-line reconciliation between that consolidated income-from-operations figure and the Rs 11.06 crore revenue reported in the subsidiary auditor’s disclosure.

Why are Callista’s earlier figures not directly comparable?

Callista said its September 2026 quarter and half-year figures are consolidated, while the earlier comparative figures were prepared on a standalone basis. The company therefore said the current consolidated financial figures are not directly comparable with the prior periods, including the audited standalone balance sheet at March 31, 2026.

The change in reporting basis coincided with a rise in total assets to Rs 29.50 crore at September 30, 2026 from Rs 2.12 crore at March 31, 2026. Total liabilities were Rs 23.95 crore at September 30, compared with Rs 2.90 crore at March 31, while total equity moved to Rs 5.55 crore from negative Rs 78.05 lakh.

Current assets reached Rs 20.01 crore at September 30, 2026, versus Rs 67.34 lakh in the March 31 standalone accounts. Callista also reported equity share capital of Rs 10 crore at September 30, up from Rs 3.05 crore, alongside Rs 2.70 crore of share warrants pending allotment.

What does Callista’s balance sheet show about working capital?

Callista’s consolidated current assets were concentrated in inventory of Rs 11.76 crore and trade receivables of Rs 7.39 crore at September 30, 2026. Together, these balances totalled Rs 19.15 crore, accounting for most of the Rs 20.01 crore reported in current assets.

Current liabilities totalled Rs 19.18 crore at September 30, 2026, compared with Rs 31.75 lakh at March 31. The largest component was Rs 17.74 crore of trade payables other than dues to micro and small enterprises, followed by Rs 1.30 crore of other current liabilities and Rs 14.25 lakh of provisions.

The consolidated cash-flow statement records a Rs 11.76 crore increase in inventory and a Rs 6.72 crore increase in trade receivables for the half year ended September 30, 2026. A Rs 17.74 crore increase in trade payables partly offset those changes, but net cash used in operating activities was Rs 1.02 crore.

Cash and cash equivalents stood at Rs 1.10 lakh at September 30, 2026, compared with Rs 8,000 at March 31. The consolidated balance sheet also listed short-term loans and advances of Rs 35.63 lakh and other financial assets of Rs 48.73 lakh, both materially lower than inventory and receivables.

How much goodwill did Callista recognise after the acquisition?

Callista recognised goodwill of Rs 3.88 crore in non-current assets at September 30, 2026. The goodwill was reported in the first consolidated balance sheet following the August 14, 2026 Share Purchase Agreement, while the March 31, 2026 standalone comparative balance sheet contained no such asset.

Non-current assets totalled Rs 9.49 crore at September 30, including loans of Rs 5.61 crore and goodwill of Rs 3.88 crore. The filing does not provide a purchase-price allocation, valuation detail or calculation explaining how the Rs 3.88 crore goodwill balance was determined.

What did the auditors conclude about Callista’s consolidated accounts?

B K G & Associates issued an unmodified limited-review conclusion on Callista’s consolidated unaudited financial results for the quarter and half year ended September 30, 2026. The auditor said nothing had come to its attention that caused it to believe the statement did not make required disclosures or contained a material misstatement.

The conclusion relied in part on another auditor’s report covering the subsidiary’s Rs 11.06 crore revenue and Rs 40.32 lakh net loss for the half year. B K G & Associates said it had not itself reviewed that subsidiary information and that its conclusion, to that extent, was based solely on the report of the subsidiary’s independent auditor, without modification.

Callista’s consolidated cash-flow statement reported a loss before tax and prior-period and extraordinary items of Rs 89.06 lakh for the half year ended September 30, 2026. Finance cost was Rs 7.73 lakh, while the filing did not provide a segment-level split of profitability between the parent and the acquired packaging business.

Conclusion

Callista’s first consolidated half-year filing adds a packaging subsidiary that reported Rs 11.06 crore of revenue and a Rs 40.32 lakh net loss for the period ended September 30, 2026. The transaction also brought Rs 11.76 crore of inventory, Rs 7.39 crore of receivables, Rs 17.74 crore of trade payables and Rs 3.88 crore of goodwill into the consolidated balance sheet.

The next disclosures to watch are any additional detail on the Rs 3.88 crore goodwill calculation and the working-capital balances established after the August 14, 2026 acquisition. The filing leaves unresolved how the goodwill was measured and provides no parent-subsidiary profitability split for the Rs 89.06 lakh consolidated pre-tax loss.