Crown Lifters H1 operating cash rises to Rs 19.85 crore

Crown Lifters Limited generated Rs 19.85 crore of net cash from operating activities in the six months ended September 30, 2026, up from Rs 1.65 crore a year earlier, while purchases of tangible assets increased to Rs 28.11 crore from Rs 8.55 crore. The operating-cash increase reflected a Rs 7.99 crore working-capital inflow.

How did Crown Lifters' operating cash flow change?

Crown Lifters' net cash flow from operating activities increased by Rs 18.21 crore to Rs 19.85 crore in the six months ended September 30, 2026, from Rs 1.65 crore in the corresponding 2025 period. Cash generated from operations reached Rs 20.41 crore, compared with Rs 2.32 crore, and income tax paid declined to Rs 55.39 lakh from Rs 67.48 lakh.

The increase in cash flow differed from the movement in profit before tax. Profit before tax was Rs 6.29 crore for the six months ended September 30, 2026, down from Rs 6.72 crore a year earlier, whereas operating profit before changes in working capital increased to Rs 12.42 crore from Rs 11.68 crore.

Depreciation and amortisation, a non-cash adjustment in the cash-flow statement, rose to Rs 4.68 crore from Rs 3.71 crore. Finance cost added back in arriving at operating profit before working-capital changes was Rs 3.00 crore, compared with Rs 1.98 crore in the prior-year period, while interest income was Rs 74.21 lakh against Rs 72.43 lakh.

Crown Lifters reported net profit of Rs 4.68 crore for the six months ended September 30, 2026, compared with Rs 5.01 crore in the preceding comparable half. The reported cash-flow figures therefore show that the increase in operating cash did not follow a rise in half-year net profit; it followed non-cash adjustments and working-capital movements.

What drove Crown Lifters' operating cash generation?

Crown Lifters recorded a net Rs 7.99 crore working-capital inflow in the six months ended September 30, 2026, calculated from cash generated from operations of Rs 20.41 crore and operating profit before working-capital changes of Rs 12.42 crore. In the prior-year half, cash generated from operations was Rs 2.32 crore, below the Rs 11.68 crore operating-profit figure before working-capital changes.

Other current assets decreased by Rs 8.78 crore and trade payables increased by Rs 4.19 crore in the 2026 half-year cash-flow statement. Those movements more than offset a Rs 4.88 crore increase in trade receivables, a Rs 18.88 lakh reduction in provisions and a Rs 4 lakh reduction in other financial liabilities.

The prior-year cash-flow statement showed a Rs 1.80 crore increase in trade receivables and a Rs 1.40 crore decrease in trade payables. It also reported changes of Rs 11.03 crore in current tax assets and Rs 17.73 crore in other non-current assets, alongside cash generated from operations of Rs 2.32 crore.

Trade receivables on the balance sheet were Rs 19.83 crore at September 30, 2026, compared with Rs 14.81 crore at March 31, 2026. Other current assets fell to Rs 10.35 crore from Rs 19.14 crore, while bank deposits classified as other financial assets declined to Rs 3.08 crore from Rs 25.73 crore.

How much did Crown Lifters spend on tangible assets?

Crown Lifters spent Rs 28.11 crore on purchases of tangible assets in the six months ended September 30, 2026, an increase of Rs 19.55 crore from Rs 8.55 crore in the corresponding 2025 half. The disclosed asset purchases were more than three times the prior-year level.

Net cash used in investing activities nevertheless declined to Rs 6.36 crore from Rs 7.83 crore. The 2026 investing cash flows included Rs 16.25 crore from fixed deposits with banks, Rs 4.55 crore from sales of property, plant and equipment, and Rs 95.13 lakh of interest received.

Crown Lifters recorded a Rs 83.09 lakh profit on the sale of property, plant and equipment in operating-cash-flow adjustments. Property, plant and equipment and intangible assets stood at Rs 151.39 crore at September 30, 2026, compared with Rs 145.45 crore at March 31, 2026, while capital work in progress moved from Rs 5.87 crore to nil.

What changed in Crown Lifters' funding and liquidity?

Crown Lifters used Rs 12.84 crore in financing activities during the six months ended September 30, 2026, compared with a Rs 6.60 crore net financing inflow in the 2025 half. The 2026 cash-flow statement lists Rs 15.34 crore of borrowings repaid, Rs 6.10 crore of borrowing proceeds, Rs 2.99 crore of finance costs paid and Rs 27.28 lakh of lease-principal payments.

Reported borrowings increased to Rs 66.36 crore at September 30, 2026, from Rs 56.77 crore at March 31, 2026. Non-current borrowings rose to Rs 45.01 crore from Rs 38.77 crore, and current borrowings increased to Rs 21.35 crore from Rs 17.99 crore; the filing does not provide a reconciliation between these closing balances and the cash-flow lines for repayments and proceeds.

Cash and cash equivalents in the cash-flow statement increased by Rs 65.29 lakh during the six months, from Rs 15.41 lakh at the start of the period to Rs 80.70 lakh at September 30, 2026. The balance sheet separately reports cash and cash equivalents of Rs 66.30 lakh at the same date, and the filing does not explain the difference between the two closing figures.

Crown Lifters' total assets were Rs 187.93 crore at September 30, 2026, down from Rs 214.58 crore at March 31, 2026. Total equity increased to Rs 82.20 crore from Rs 77.38 crore, including other equity of Rs 70.61 crore compared with Rs 65.79 crore at the preceding financial year-end.

Conclusion

Crown Lifters' six-month statements show operating cash flow of Rs 19.85 crore despite profit before tax declining to Rs 6.29 crore from Rs 6.72 crore. A Rs 7.99 crore working-capital inflow and Rs 4.68 crore of depreciation and amortisation supported cash generated from operations of Rs 20.41 crore, while tangible-asset purchases rose to Rs 28.11 crore.

The next disclosures to watch are those that clarify the Rs 14.40 lakh difference between the Rs 80.70 lakh closing cash figure in the cash-flow statement and the Rs 66.30 lakh balance-sheet figure at September 30, 2026. Investors can also track whether borrowings, reported at Rs 66.36 crore at that date, change alongside further asset purchases or deposit movements.