GPT Infraprojects operating cash flow reaches Rs 54 crore

GPT Infraprojects Limited generated Rs 54.0367 crore of net cash from operating activities in the half year ended September 30, 2026, compared with Rs 11.522 crore a year earlier, as an Rs 83.3428 crore decrease in trade receivables outweighed Rs 52.8435 crore absorbed by contract assets and Rs 63.3097 crore by inventories.

How did GPT Infraprojects generate Rs 54.0367 crore of operating cash?

GPT Infraprojects generated Rs 54.0367 crore from operating activities in the half year ended September 30, 2026, versus Rs 11.522 crore in the corresponding 2025 period. Cash generated from operations before tax payments increased to Rs 65.1632 crore from Rs 22.2152 crore, while net taxes paid were Rs 11.1265 crore, compared with Rs 10.6932 crore a year earlier.

Operating profit before working-capital changes rose to Rs 91.232 crore from Rs 77.4136 crore. The reconciliation included Rs 21.2743 crore of depreciation and amortisation, against Rs 12.4072 crore, and Rs 20.5609 crore of interest expense, against Rs 14.0569 crore. Profit before tax, including the share of joint-venture profit, was Rs 55.828 crore, below Rs 62.2561 crore in the prior-year half.

Working-capital movements determined the conversion of that operating profit into cash. The Rs 83.3428 crore reduction in trade receivables was the largest cash inflow, compared with a Rs 36.0934 crore reduction in the half year ended September 30, 2025. It offset the cash absorbed by contract assets and inventories, alongside other movements in liabilities and assets.

What changed in GPT Infraprojects' working capital during the half year?

GPT Infraprojects' trade receivables declined to Rs 45.281 crore at September 30, 2026, from Rs 128.6238 crore at March 31, 2026. That Rs 83.3428 crore reduction matched the receivables cash inflow reported in the half-year cash-flow statement.

Inventories rose to Rs 230.6293 crore at September 30, 2026 from Rs 167.3196 crore at March 31, 2026. The cash-flow statement recorded an Rs 63.3097 crore inventory increase, compared with Rs 13.0298 crore in the corresponding prior-year half, making inventory the second-largest working-capital use of cash after contract assets.

Current contract assets increased to Rs 567.9911 crore from Rs 514.056 crore, while non-current contract assets rose to Rs 43.2808 crore from Rs 41.9002 crore. The cash-flow statement recorded Rs 52.8435 crore of cash absorption from contract assets, lower than the Rs 115.7241 crore absorbed in the half year ended September 30, 2025. Contract liabilities added Rs 40.2105 crore of cash, while trade payables reduced cash by Rs 14.1087 crore.

How much did GPT Infraprojects spend on investment during the period?

GPT Infraprojects used Rs 31.0526 crore in investing activities during the half year ended September 30, 2026, compared with Rs 23.5343 crore used a year earlier. Purchases of property, plant and equipment and intangible assets, including capital work-in-progress, accounted for Rs 35.0494 crore, up from Rs 20.5392 crore in the prior-year period.

Property, plant and equipment increased to Rs 226.819 crore at September 30, 2026 from Rs 207.2754 crore at March 31, 2026, while capital work-in-progress rose to Rs 2.8022 crore from Rs 2.6589 crore. Other intangible assets fell to Rs 80.6824 crore from Rs 87.5199 crore, alongside the Rs 21.2743 crore depreciation and amortisation charge. Interest received was Rs 3.0037 crore and the repayment of, or reduction in, margin-money deposits contributed Rs 7.5112 crore.

What do GPT Infraprojects' profit and segment figures show?

GPT Infraprojects reported revenue from operations of Rs 593.4578 crore for the half year ended September 30, 2026, marginally above Rs 591.3024 crore a year earlier, while net profit fell to Rs 42.8838 crore from Rs 45.2822 crore. Finance costs rose to Rs 20.5609 crore from Rs 14.0734 crore, and profit before tax decreased to Rs 55.1721 crore from Rs 62.0932 crore.

The Infrastructure segment generated Rs 544.1269 crore of half-year revenue, compared with Rs 543.2923 crore in the prior-year half. Concrete Sleeper revenue rose to Rs 49.3309 crore from Rs 48.0101 crore, but its profit before tax and interest declined to Rs 5.5761 crore from Rs 12.5498 crore. Infrastructure profit before tax and interest was Rs 71.2752 crore, compared with Rs 71.3915 crore.

Financing activities used Rs 15.8233 crore in the 2026 half year, reversing an Rs 11.941 crore inflow in the prior-year period. Long-term borrowing receipts were Rs 29.1847 crore and repayments were Rs 14.8615 crore, while interest paid was Rs 20.0573 crore and dividend payments were Rs 12.6397 crore. Cash and cash equivalents increased by Rs 7.1608 crore to Rs 9.3417 crore at September 30, 2026.

Conclusion

The half-year statement shows that lower receivables increased cash conversion even as GPT Infraprojects committed more cash to inventories, contract assets and capital expenditure. Operating cash inflow of Rs 54.0367 crore was sufficient to fund Rs 35.0494 crore of asset purchases, while financing cash flow turned to an outflow of Rs 15.8233 crore from an inflow of Rs 11.941 crore a year earlier.

The next disclosed matter is the proposed merger of wholly owned subsidiaries Alcon Builders and Engineers Private Limited and Jogbani Highway Private Limited into GPT Infraprojects. The company said it filed the August 6, 2026 scheme with the National Company Law Tribunal, Kolkata Bench; the board also declared an interim dividend of Rs 1 per equity share, with November 11, 2026 as the record date.