Cella Space fixed assets fall to Rs 3.18 lakh after sale

Cella Space Limited reported consolidated property, plant and equipment of Rs 3.18 lakh at September 30, 2026, from Rs 33.36 crore at March 31, after recording Rs 33.33 crore of fixed-asset sale proceeds in the half-year cash-flow statement. Net investing cash inflow was Rs 35.24 crore.

What happened to Cella Space’s fixed assets?

Cella Space’s consolidated property, plant and equipment fell by Rs 33.33 crore between March 31, 2026 and September 30, 2026. The carrying amount was Rs 33.36 crore at the March year-end and Rs 3.18 lakh at the September half-year date, leaving a substantially smaller reported property, plant and equipment balance.

The consolidated cash-flow statement records Rs 33.33 crore as proceeds from sale of fixed assets for the period ended September 30, 2026. It also reports fixed-asset purchases of Rs 0.68 lakh in the same period. The filing does not identify the assets sold, the buyer, the sale date, or a gain or loss separately attributable to the disposal.

The remaining non-current asset base included investment property of Rs 8.53 lakh, investments of Rs 1 lakh, deposits of Rs 16.85 lakh and other non-current assets of Rs 56.20 lakh at September 30. Investment property and investments were unchanged from March 31, while deposits rose from Rs 16.83 lakh and other non-current assets increased from Rs 1.08 lakh.

How did the disposal change Cella Space’s cash and asset mix?

Cella Space’s balance sheet shifted toward bank balances other than cash and cash equivalents, which increased to Rs 50.84 crore at September 30 from Rs 2.92 crore at March 31. Cash and cash equivalents moved in the other direction, declining to Rs 57.50 lakh from Rs 2.08 crore over the same dates.

The group reported net cash from investing activities of Rs 35.24 crore for the half year ended September 30, 2026. The statement lists Rs 33.33 crore of fixed-asset sale proceeds, Rs 1.91 crore of interest income and Rs 0.68 lakh of fixed-asset purchases within investing activities.

Total consolidated assets rose to Rs 59.51 crore at September 30 from Rs 47.86 crore at March 31, despite the reduction in property, plant and equipment. The increase coincided with a Rs 47.92 crore rise in bank balances other than cash and cash equivalents, while other current assets declined to Rs 7.11 crore from Rs 9.16 crore.

Operating activities used Rs 34.65 crore of cash in the six months ended September 30, compared with Rs 2.07 crore used in the year ended March 31, 2026. The cash-flow statement presents the Rs 47.92 crore increase in bank balances other than cash and cash equivalents as a working-capital movement, making it a material contributor to the operating cash outflow.

How did Cella Space’s half-year financial results compare?

Cella Space reported total income of Rs 19.36 crore for the half year ended September 30, 2026, compared with Rs 4.35 crore in the corresponding half year ended September 30, 2025. Revenue from operations rose to Rs 17.36 crore from Rs 2.03 crore, while other income declined to Rs 1.99 crore from Rs 2.31 crore.

Profit before tax was Rs 10.53 crore for the September 2026 half year, compared with Rs 1.74 crore a year earlier. Profit for the period was Rs 7.90 crore, against Rs 1.74 crore in the prior-year half year, after Cella Space reported current tax expense of Rs 2.62 crore; the comparable prior-year half-year column showed no current-tax amount.

The quarter ended September 30 contributed less than the preceding June quarter to half-year earnings. Profit for the period was Rs 62.19 lakh in the September quarter, compared with Rs 7.28 crore in the June quarter, while revenue from operations was Rs 83.54 lakh in September and Rs 16.53 crore in June.

Total expenses were Rs 8.83 crore in the September 2026 half year, compared with Rs 2.61 crore in the prior-year period. Direct expenses increased to Rs 7.12 crore from Rs 7.20 lakh, employee benefit expense rose to Rs 61.18 lakh from Rs 57.26 lakh, and finance cost declined to Rs 25.12 lakh from Rs 87.93 lakh.

What did the auditor’s review cover?

Cella Space’s consolidated results for the quarter and half year ended September 30, 2026 were reviewed, rather than audited, by KPR & Co. Chartered Accountants. In its report dated November 11, 2026, the firm said nothing had come to its attention suggesting the results failed to make required disclosures under Regulation 33 of the Securities and Exchange Board of India listing regulations or contained a material misstatement.

The auditor stated that its work was conducted under Standard on Review Engagements 2410, which involves inquiries and analytical procedures and provides less assurance than an audit. The report covers Cella Space and five subsidiaries: Landlink Warehousing Private Limited, Victara Industrial Parks Private Limited, Safehold Warehousing Private Limited, Store Max Logistics Parks Private Limited and Summitra Industrial Ventures Private Limited.

KPR & Co. said it did not review the interim financial results of the subsidiaries. Its table reported aggregate total income of Rs 0 and aggregate net loss of Rs 442.50 for the subsidiaries for the period ended September 30, 2026, based on their interim standalone financial results.

Conclusion

Cella Space’s September 2026 consolidated statements show a significant change in the composition of reported assets. Property, plant and equipment declined from Rs 33.36 crore to Rs 3.18 lakh, while the cash-flow statement recorded Rs 33.33 crore of fixed-asset sale proceeds and bank balances other than cash and cash equivalents increased to Rs 50.84 crore.

The filing does not disclose a plan for the sale proceeds, further asset disposals, the identity of the assets sold or a transaction-specific gain or loss. The next financial disclosure will show whether property, plant and equipment remains near Rs 3.18 lakh, how the Rs 50.84 crore of bank balances changes, and whether operating cash flow improves from the Rs 34.65 crore outflow reported for the half year ended September 30, 2026.