Centuple Global Receivables and Payables Both Fall in H1

Centuple Global Limited reported a Rs 36.68 crore fall in trade receivables and a Rs 37.68 crore decline in trade payables during the six months ended September 30, 2026. The nearly matching movements left Centuple Global with net cash inflow from operating activities of Rs 1.55 lakh after Rs 77.55 lakh of income tax paid.

Why did Centuple Global’s trade receivables fall in six months?

Centuple Global’s reported trade receivables fell to Rs 301.05 crore at September 30, 2026, from Rs 337.73 crore at March 31, 2026. The Rs 36.68 crore reduction is also recorded in the half-year cash-flow statement as a decrease in trade receivables, which contributed cash in the operating-cash-flow reconciliation.

The filing does not identify customers, collection dates, credit terms or specific transactions behind the receivables movement. It therefore records the balance reduction but does not establish how much resulted from collections, lower billing, credit notes or other accounting adjustments. At Rs 301.05 crore, trade receivables remained substantially larger than inventories of Rs 1.10 crore and cash and cash equivalents of Rs 10.31 lakh at September 30, 2026.

Total current assets declined to Rs 306.97 crore at September 30, 2026 from Rs 342.89 crore at March 31, 2026, a reduction of Rs 35.91 crore. This was marginally smaller than the receivables movement because other current assets increased by Rs 75.38 lakh to Rs 4.60 crore, while inventories stayed at Rs 1.10 crore and loans and advances remained Rs 11.50 lakh.

How closely did Centuple Global’s trade payables move with receivables?

Centuple Global’s trade payables declined by Rs 37.68 crore, exceeding the Rs 36.68 crore fall in trade receivables by Rs 1 crore. Trade payables stood at Rs 268.86 crore at September 30, 2026, compared with Rs 306.55 crore at March 31, 2026, according to the statement of assets and liabilities.

The cash-flow statement classifies the Rs 37.68 crore fall in trade payables as a decrease in current liabilities and therefore an operating cash outflow. This largely offset the cash inflow associated with the receivables reduction. The filing consequently shows a contraction in both customer balances due to Centuple Global and supplier balances owed by Centuple Global, rather than a large cash gain from receivable collections alone.

Total current liabilities fell by Rs 35.59 crore to Rs 284.08 crore at September 30, 2026 from Rs 319.67 crore at March 31, 2026. Borrowings were unchanged at Rs 6.74 crore, while other current liabilities increased by Rs 2.87 crore to Rs 8.49 crore. The March 31, 2026 balance sheet showed current tax liabilities of Rs 77.54 lakh, whereas no separate current-tax-liability amount is displayed for September 30, 2026.

What was the operating cash effect of the working-capital changes?

Centuple Global reported Rs 79.10 lakh of cash inflow from operations before income tax for the half year ended September 30, 2026, despite an operating loss before working-capital changes of Rs 32.21 lakh. Profit before tax was a loss of Rs 32.53 lakh, and depreciation and amortisation added back Rs 32,000 in the operating-cash-flow calculation.

The cash-flow statement shows a Rs 35.93 crore decrease in current assets and a Rs 34.82 crore decrease in current liabilities. Their difference produced a favourable net working-capital movement of Rs 1.11 crore before the operating loss and other adjustments. Within those totals, the Rs 75.38 lakh increase in other current assets reduced cash flow, while the Rs 2.87 crore increase in other current liabilities added to it.

Income tax paid of Rs 77.55 lakh reduced the Rs 79.10 lakh pre-tax operating inflow to net cash inflow from operating activities of Rs 1.55 lakh. Cash and cash equivalents rose from Rs 8.76 lakh at the beginning of the half year to Rs 10.31 lakh at September 30, 2026. The current-period cash-flow statement does not display an investing or financing cash-flow amount, leaving the operating inflow equal to the stated change in cash.

The prior-year half year showed the reverse direction in the two largest working-capital balances. For the half year ended September 30, 2025, trade receivables increased by Rs 138.78 crore and trade payables increased by Rs 138.03 crore; in the 2026 half year, both declined. Net cash inflow from operating activities was Rs 11.84 lakh in the 2025 half year, compared with Rs 1.55 lakh in the 2026 half year.

How did Centuple Global’s profit and equity change in H1?

Centuple Global reported a loss after tax of Rs 32.63 lakh for the half year ended September 30, 2026, compared with a profit after tax of Rs 1.41 crore for the half year ended September 30, 2025. Loss before tax was Rs 32.53 lakh, against profit before tax of Rs 1.89 crore a year earlier, showing that the shift in working-capital balances occurred alongside a weaker reported half-year result.

The September 2026 quarter recorded a loss after tax of Rs 14.28 lakh, following a Rs 18.34 lakh loss in the June 2026 quarter. In the September 2025 quarter, Centuple Global reported profit after tax of Rs 1.32 crore. Basic earnings per share were negative Rs 0.60 for the 2026 half year, compared with Rs 2.58 in the corresponding 2025 period.

Paid-up equity share capital was unchanged at Rs 5.47 crore at September 30, 2026. Share warrants also remained Rs 21.16 crore, while other equity moved to negative Rs 3.73 crore from negative Rs 3.40 crore at March 31, 2026, reflecting the reported half-year loss of Rs 32.63 lakh.

The board approved the unaudited standalone and consolidated results on November 13, 2026. Garg Agrawal & Agrawal, Chartered Accountants, issued a limited-review report dated November 13, 2026, stating that nothing had come to its attention to indicate a material misstatement in the financial results; the firm also stated that a review provides less assurance than an audit.

Conclusion

Centuple Global’s half-year statements show that trade receivables and trade payables contracted by almost the same amount between March 31 and September 30, 2026. The Rs 36.68 crore receivables reduction was more than offset by the Rs 37.68 crore payables reduction, while other working-capital items and Rs 77.55 lakh of tax paid limited net operating cash inflow to Rs 1.55 lakh.

The filing does not disclose a forward working-capital target, collection plan, supplier-payment plan or scheduled subsequent operating event. The next results should therefore be assessed for whether receivables move from Rs 301.05 crore, payables move from Rs 268.86 crore, and operating cash flow improves from the Rs 1.55 lakh reported for the half year ended September 30, 2026.