Haldyn Glass more than doubles first-half capital spending

Haldyn Glass Limited more than doubled acquisition spending on property, plant and equipment to Rs 46.44 crore in the half year ended September 30, 2026, from Rs 16.82 crore a year earlier. The Rs 29.62 crore increase came alongside operating cash flow of Rs 51.23 crore and net long-term term-loan inflows of Rs 8.59 crore.

How much did Haldyn Glass spend on capital assets in H1?

Haldyn Glass spent Rs 46.44 crore on acquisition of property, plant and equipment in the half year ended September 30, 2026, compared with Rs 16.82 crore in the half year ended September 30, 2025. The cash-flow line includes capital work in progress, capital advances and creditors for capital goods, according to the standalone filing.

The acquisition outflow increased by Rs 29.62 crore from the prior-year half year. Net cash used in investing activities rose to Rs 47.42 crore from Rs 21.55 crore, with the property, plant and equipment acquisition line accounting for most of the investing outflow in both periods.

Haldyn Glass generated Rs 51.23 crore from operating activities in the latest half year, compared with Rs 26.73 crore a year earlier. In addition to capital-asset acquisition, investing cash flows included Rs 1.44 crore spent on equity investments and Rs 82.14 lakh of net movement in fixed deposits during the September 2026 half year.

What changed in Haldyn Glass's asset balances?

Haldyn Glass reported capital work in progress of Rs 7.10 crore at September 30, 2026, up from Rs 1.56 crore at March 31, 2026. The Rs 5.54 crore increase means a larger balance was recorded as work in progress at the September reporting date.

Property, plant and equipment stood at Rs 243.03 crore at September 30, 2026, compared with Rs 248.37 crore at March 31, 2026. The closing balance-sheet figure is not directly comparable with the Rs 46.44 crore acquisition cash outflow because the cash-flow disclosure also includes capital work in progress, capital advances and creditors for capital goods.

Right-of-use assets, which are separately presented in the balance sheet, declined to Rs 31.89 lakh at September 30, 2026 from Rs 2.54 crore at March 31, 2026. Total non-current assets nevertheless increased by Rs 1.40 crore over the six months, while investments increased by Rs 2.58 crore to Rs 56.77 crore.

How did Haldyn Glass finance the higher investment outflow?

Haldyn Glass received Rs 17.77 crore from long-term term loans and repaid Rs 9.18 crore during the half year ended September 30, 2026. That produced a net long-term term-loan inflow of Rs 8.59 crore, whereas the comparable 2025 period had a net repayment of Rs 1.92 crore after Rs 14.33 crore of proceeds and Rs 12.42 crore of repayments.

The company recorded a net Rs 1.91 crore repayment of short-term borrowings in the 2026 half year, compared with a Rs 2.49 crore net inflow in the 2025 half year. Net cash used in financing activities was Rs 3.22 crore, against Rs 5.89 crore a year earlier, after finance costs, dividends and lease-related payments.

Non-current borrowings increased to Rs 70.63 crore at September 30, 2026 from Rs 63.93 crore at March 31, 2026. Current borrowings were broadly unchanged at Rs 49.21 crore, compared with Rs 49.24 crore six months earlier; these are reporting-date balances, while cash-flow figures cover the April-to-September period.

What does operating cash flow show alongside the spending?

Haldyn Glass reported profit before tax of Rs 25.16 crore for the half year ended September 30, 2026, compared with Rs 11.49 crore in the prior-year half year. Operating profit before working-capital adjustments was Rs 47.59 crore, up from Rs 27.74 crore in the corresponding 2025 period.

Working-capital movements included a Rs 26.77 crore cash use from trade receivables, compared with Rs 13.32 crore a year earlier. This was partly offset by a Rs 9.49 crore cash release from inventories and a Rs 18.28 crore contribution from trade payables, versus Rs 1.90 crore and Rs 13.71 crore respectively in the prior-year half year.

Trade receivables were Rs 96.62 crore at September 30, 2026, up from Rs 72.85 crore at March 31, 2026, while inventories fell to Rs 57.29 crore from Rs 66.78 crore. Cash and cash equivalents ended the half year at Rs 2.37 crore, compared with Rs 1.78 crore at its start, a net increase of Rs 59.12 lakh; the corresponding 2025 half year recorded a decrease of Rs 71.18 lakh.

Which business does Haldyn Glass's capital spending disclosure cover?

Haldyn Glass reports one operating segment, manufacturing and trading of glass bottles, under Indian Accounting Standard 108, Operating Segments. The September 2026 standalone results therefore do not split the Rs 46.44 crore acquisition outflow between manufacturing and trading activities.

The capital-spending figures are part of unaudited standalone results for the quarter and half year ended September 30, 2026, reviewed by the board on November 5, 2026. KNAV & CO. LLP's limited-review report dated November 5, 2026 stated that nothing had come to its attention to indicate that the standalone statement had a material misstatement.

Haldyn Glass reported revenue from operations of Rs 278.43 crore for the half year ended September 30, 2026, compared with Rs 230.73 crore a year earlier. Profit for the period rose to Rs 18.78 crore from Rs 8.45 crore, while the filing provides no project description, completion schedule or capital-spending target for the higher investment outflow.

Conclusion

Haldyn Glass's reported acquisition outflow for property, plant and equipment rose by Rs 29.62 crore year on year to Rs 46.44 crore in the half year ended September 30, 2026. The increase coincided with Rs 51.23 crore of operating cash generation, Rs 8.59 crore of net term-loan inflows and a Rs 5.54 crore rise in capital work in progress.

The next disclosures should show whether the Rs 7.10 crore capital work-in-progress balance at September 30, 2026 moves into completed property, plant and equipment and how the Rs 70.63 crore non-current borrowing balance changes. Haldyn Glass has not disclosed a project description, completion date or capital-spending target in the September 2026 filing.