Chaman Lal Setia Exports other bank balances rise Rs 379.75 crore

Chaman Lal Setia Exports Limited, referred to hereafter as Chaman Lal Setia Exports, reported other bank balances of Rs 506.39 crore at September 30, 2026, up Rs 379.75 crore from March 31, while inventories fell Rs 295.92 crore to Rs 131.33 crore. The changes appeared in its unaudited standalone half-year balance sheet approved on November 12, 2026.

Why did Chaman Lal Setia Exports' inventory fall by Rs 295.92 crore?

Chaman Lal Setia Exports reported inventories of Rs 131.33 crore at September 30, 2026, compared with Rs 427.25 crore at March 31, 2026, a reduction of Rs 295.92 crore. The balance at the half-year date was below one-third of its March 31 level, based on the standalone statement of assets and liabilities.

The filing identifies Chaman Lal Setia Exports as operating in one primary reportable business segment: manufacturing, trading and marketing of rice. It does not provide a management explanation or an inventory note explaining the reduction from Rs 427.25 crore to Rs 131.33 crore.

The income statement recorded Rs 265.93 crore under changes in inventories of finished goods, work-in-progress and stock-in-trade for the half year ended September 30, 2026, against Rs 194.71 crore in the corresponding half year of 2025. That income-statement line should not be treated as the same measure as the Rs 295.92 crore balance-sheet movement, because the filing presents the two figures in different statements.

Purchases of stock-in-trade were Rs 147.89 crore in the September 2026 half year, down from Rs 204.67 crore a year earlier, while cost of materials consumed increased to Rs 57.06 crore from Rs 48.50 crore. These reported movements coincided with the lower inventory balance, although the filing does not set out a direct reconciliation from purchases and consumption to closing inventory.

How much did Chaman Lal Setia Exports hold in other bank balances?

Chaman Lal Setia Exports held Rs 506.39 crore in other bank balances at September 30, 2026, compared with Rs 126.64 crore at March 31, 2026. The increase of Rs 379.75 crore was larger than any other individual current-asset movement listed in the half-year balance sheet.

Other bank balances were the largest current-asset category reported at September 30, exceeding trade receivables of Rs 193.51 crore and inventories of Rs 131.33 crore. Cash and cash equivalents, which the statement presents separately, declined by Rs 15.11 lakh to Rs 16.54 lakh from Rs 31.65 lakh over the same dates.

The filing does not identify the maturity, purpose or restrictions of the Rs 506.39 crore classified as other bank balances. It therefore establishes the reported balance and its rise from March 31, but does not specify what portion, if any, is available for immediate general corporate use.

Current investments rose to Rs 44.31 crore at September 30 from Rs 10.91 lakh at March 31, while loans increased to Rs 1.50 crore from Rs 72.54 lakh. Other bank balances and current investments together were Rs 550.70 crore at September 30, compared with Rs 126.75 crore six months earlier.

How did Chaman Lal Setia Exports' current assets change?

Chaman Lal Setia Exports' total current assets increased to Rs 978.68 crore at September 30, 2026, from Rs 871.96 crore at March 31, 2026, a rise of Rs 106.72 crore. The increase occurred despite the Rs 295.92 crore inventory decline, as the increase in other bank balances alone was Rs 379.75 crore.

Trade receivables decreased by Rs 39.00 crore to Rs 193.51 crore, while other current assets increased by Rs 20.06 crore to Rs 101.48 crore. Chaman Lal Setia Exports did not provide a breakdown of the other-current-assets category in the supplied results, leaving the components of that Rs 101.48 crore balance undisclosed.

Total assets rose to Rs 1,148.72 crore at September 30 from Rs 1,039.70 crore at March 31, an increase of Rs 109.02 crore. Non-current assets rose by Rs 2.30 crore to Rs 170.04 crore, showing that nearly all of the reported total-assets increase was in current assets.

Property, plant and equipment was Rs 167.76 crore at September 30, up Rs 68.77 lakh from Rs 167.08 crore at March 31, while capital work-in-progress rose to Rs 1.49 crore from Rs 8.18 lakh. These non-current-asset changes were modest relative to the Rs 379.75 crore increase in other bank balances.

What does Chaman Lal Setia Exports' cash-flow statement show?

Chaman Lal Setia Exports reported net cash from operating activities of Rs 54.16 crore for the half year ended September 30, 2026. The cash-flow statement also reported profit before tax and extraordinary items of Rs 117.97 crore and operating profit before working-capital changes of Rs 115.85 crore for that half year.

The statement listed working-capital adjustments of Rs 39.70 crore for trade receivables and others, Rs 295.92 crore for inventories and others, Rs 398.59 crore for other current assets, and Rs 31.43 crore for trade payables and others. Its labels describe each item as an increase or decrease, without separately presenting signs for the underlying balance-sheet categories.

The reported operating cash flow of Rs 54.16 crore compares with Rs 51.17 crore shown for the year ended March 31, 2026. As one figure covers six months and the other covers a full year, the two periods are not like-for-like measures of operating cash generation.

The statement reported Rs 3.42 crore as net cash used in investing activities for the September half year, after fixed-asset purchases of Rs 4.73 crore and interest received or dividend of Rs 8.33 crore. It reported net cash from financing activities as negative Rs 57.74 crore, including finance cost of Rs 3.78 crore, proceeds or repayment from borrowings of Rs 9.76 crore, and an Rs 44.20 crore increase or decrease in current investments as labelled.

How did Chaman Lal Setia Exports' borrowings and liabilities change?

Chaman Lal Setia Exports reported no current borrowings at September 30, 2026, compared with Rs 8.86 crore at March 31, 2026. Non-current borrowings were Rs 72.97 crore, down Rs 90.34 lakh from Rs 73.88 crore, taking total disclosed borrowings to Rs 72.97 crore from Rs 82.74 crore.

Total current liabilities increased to Rs 148.27 crore at September 30 from Rs 125.70 crore at March 31. Short-term provisions rose to Rs 104.85 crore from Rs 74.78 crore, trade payables increased to Rs 13.44 crore from Rs 8.28 crore, and other current liabilities declined to Rs 29.99 crore from Rs 33.78 crore.

Total equity rose to Rs 925.38 crore at September 30 from Rs 838.20 crore at March 31. Other equity increased by Rs 87.18 crore to Rs 915.03 crore, while equity share capital was unchanged at Rs 9.95 crore.

Chaman Lal Setia Exports reported profit for the period of Rs 88.28 crore for the half year ended September 30, 2026, compared with Rs 40.57 crore for the corresponding half year of 2025. Revenue from operations increased to Rs 674.69 crore from Rs 580.22 crore, while the filing does not separately link the profit increase to each balance-sheet movement.

Conclusion

Chaman Lal Setia Exports' standalone September 2026 statements show a substantial reallocation within current assets. Inventory declined by Rs 295.92 crore and trade receivables by Rs 39.00 crore, while other bank balances increased by Rs 379.75 crore and current investments by Rs 44.20 crore. Total current assets rose Rs 106.72 crore and current borrowings fell to nil.

The filing does not disclose a plan or target for the Rs 506.39 crore in other bank balances, nor does it provide their maturity or restriction profile. Subsequent financial statements will show whether the inventory reduction, bank-balance increase, Rs 44.31 crore investment balance and Rs 72.97 crore non-current borrowing balance persist or change.