Green Asia Impex Limited first-half profit rises 37% to Rs 10.38 crore

Green Asia Impex reported profit after tax of Rs 10.38 crore for April to September 2026, up 37% from Rs 7.56 crore a year earlier, as revenue from operations increased 27% to Rs 227.66 crore. Profit before tax rose to Rs 14.00 crore and basic earnings per share reached Rs 6.96.

How did Green Asia Impex perform in the first half of FY27?

Green Asia Impex increased total income by 26% year on year to Rs 228.86 crore in April to September 2026, from Rs 181.35 crore in April to September 2025. Revenue from operations was Rs 227.66 crore, against Rs 179.57 crore in the corresponding prior-year period, while other income declined to Rs 1.21 crore from Rs 1.78 crore.

Green Asia Impex reported profit before tax of Rs 14.00 crore, compared with Rs 10.25 crore a year earlier. Tax expense increased to Rs 3.62 crore from Rs 2.69 crore, resulting in profit after tax of Rs 10.38 crore versus Rs 7.56 crore. Basic and diluted earnings per share, or EPS, were Rs 6.96 each, compared with Rs 5.11 each; the company said half-year EPS was not annualised.

What changed in Green Asia Impex's costs and profitability?

Green Asia Impex's total expenses rose to Rs 214.86 crore from Rs 171.11 crore, while total income increased by Rs 47.51 crore from the year-earlier half. Purchases, the largest cost line, rose to Rs 192.84 crore from Rs 158.58 crore. The difference between total income and expenses was Rs 14.00 crore, compared with Rs 10.25 crore in April to September 2025.

Finance costs increased to Rs 5.57 crore from Rs 3.54 crore, while employee-benefit expense rose to Rs 2.67 crore from Rs 2.41 crore. Administration and other expenses declined to Rs 6.13 crore from Rs 7.00 crore, and operating expenses fell to Rs 5.63 crore from Rs 6.40 crore.

The inventory movement changed between the two periods. Green Asia Impex recorded a Rs 99.38 lakh inventory-related expense in April to September 2026, compared with a Rs 7.91 crore credit in the corresponding prior-year half. Depreciation and amortisation also declined to Rs 1.02 crore from Rs 1.09 crore, while other income fell by Rs 57.83 lakh.

Why did Green Asia Impex report negative operating cash flow?

Green Asia Impex used Rs 10.79 crore in operating activities during April to September 2026, compared with Rs 7.53 crore generated in April to September 2025. The company reported operating profit before working-capital changes of Rs 20.81 crore, but a Rs 25.53 crore increase in trade receivables outweighed that amount.

Trade receivables had decreased by Rs 3.65 crore in the earlier half, rather than rising as they did in the latest period. Short-term loans and advances increased by Rs 5.59 crore and other current assets increased by Rs 1.09 crore, while inventories decreased by Rs 99.38 lakh. Taxes paid were Rs 59.84 lakh, compared with Rs 76.57 lakh in the prior-year period.

Investing activities used Rs 45.11 lakh, compared with an outflow of Rs 4.85 crore a year earlier, as fixed-asset purchases fell to Rs 23.28 lakh from Rs 5.09 crore. Financing activities generated Rs 10.93 crore, including Rs 11.55 crore of borrowing proceeds and Rs 5.17 crore from an equity-share and securities-premium issue, partly offset by Rs 5.57 crore of interest paid.

Cash and cash equivalents were Rs 21.34 lakh at September 30, 2026, down from Rs 52.65 lakh at March 31, 2026. The net decrease in cash and cash equivalents during the six months was Rs 31.31 lakh, compared with a Rs 17.09 lakh decrease in April to September 2025.

How did Green Asia Impex's balance sheet and IPO events change?

Green Asia Impex's total assets rose to Rs 285.33 crore at September 30, 2026, from Rs 254.88 crore at March 31, 2026. Current assets increased to Rs 267.81 crore from Rs 236.84 crore, led by trade receivables of Rs 122.92 crore, up from Rs 97.35 crore at the March year-end.

Inventories were Rs 116.61 crore at September 30, compared with Rs 117.61 crore at March 31. Short-term loans and advances increased to Rs 24.23 crore from Rs 18.64 crore. Shareholders' funds rose to Rs 56.98 crore from Rs 41.43 crore, while long-term borrowings increased to Rs 19.21 crore from Rs 7.66 crore.

During September 2026, Green Asia Impex allotted 671,045 equity shares at Rs 77 per share, raising Rs 5.17 crore. The allotment comprised Rs 67.10 lakh in share capital and Rs 4.50 crore in securities premium. Short-term borrowings were broadly unchanged at Rs 91.59 crore, compared with Rs 91.81 crore at March 31.

Green Asia Impex's small and medium enterprises initial public offering opened on September 24, 2026, closed on October 1, and listed on the SME Exchange on October 7 at Rs 89 per share. The Rs 59.34 crore issue included a Rs 52.46 crore fresh issue and a Rs 6.88 crore offer for sale. The company said Rs 40.03 crore of net fresh-issue proceeds reached its operating current account on October 9, after the September 30 reporting date, and was classified as a subsequent event with nil deviation or variation status for H1 FY27.

Conclusion

Green Asia Impex reported higher first-half revenue and profit, with profit after tax reaching Rs 10.38 crore on Rs 227.66 crore of operating revenue. The result also coincided with a shift to a Rs 10.79 crore operating cash outflow, as trade receivables rose by Rs 25.53 crore during the six-month period.

The next reporting period will reflect the Rs 40.03 crore of net fresh-issue proceeds credited on October 9, 2026. Investors can monitor whether receivables, which stood at Rs 122.92 crore at September 30, and long-term borrowings of Rs 19.21 crore change after that post-period capital inflow.