Haryana Capfin deploys Rs 19.635 crore in H1 investments

Haryana Capfin Limited deployed Rs 19.635 crore to non-current investment purchases in the half year ended September 30, 2026, as operating activities generated Rs 13.7166 crore of cash against a Rs 55.05 lakh outflow in the year ended March 31, 2026. Cash and cash equivalents ended the half year at Rs 2.02 lakh.

How did Haryana Capfin allocate cash during the half year?

Haryana Capfin used Rs 19.635 crore to buy non-current investments during the half year ended September 30, 2026. This was its largest disclosed investing cash-flow item and exceeded the Rs 12.9544 crore net cash outflow from investing activities because the company also received Rs 6.6805 crore of dividends during the period.

The half-year purchase of non-current investments was below the Rs 21.8201 crore reported for the full year ended March 31, 2026, although the two periods are not like-for-like. The cash-flow statement shows no current-investment purchases or sale proceeds in the half year, compared with Rs 10.05 crore of current-investment purchases and Rs 18.3189 crore of sale proceeds in the preceding full year.

The filing identifies the outlay only as purchases of non-current investments and does not name securities, issuers or asset classes. Haryana Capfin describes itself as a non-banking financial company, or NBFC, with one reportable segment, investment and financing, so the results do not provide a segment-level allocation of the Rs 19.635 crore purchase amount.

Why did Haryana Capfin's operating cash flow become positive?

Haryana Capfin generated Rs 13.7166 crore of net operating cash flow because a Rs 20.1226 crore decrease in other assets outweighed a Rs 47.76 lakh deficit before working-capital changes. In contrast, the company reported Rs 55.05 lakh of net cash used in operating activities for the year ended March 31, 2026.

The decrease in other assets added Rs 20.1226 crore of cash, while the movement in other current liabilities reduced cash by Rs 4.1304 crore. These working-capital movements lifted cash generated from operations to Rs 15.5146 crore, after which Rs 1.798 crore of direct income tax paid reduced the operating inflow to Rs 13.7166 crore.

Profit before tax was Rs 5.3224 crore in the half year, but the cash-flow reconciliation recorded a Rs 47.76 lakh loss before working-capital changes. Haryana Capfin deducted Rs 6.6805 crore of dividend received and added Rs 88.05 lakh of finance cost in that reconciliation, producing a different pre-working-capital cash measure from reported profit.

Dividend income was Haryana Capfin's entire reported revenue from operations in the half year, at Rs 6.6805 crore, compared with total revenue from operations of Rs 6.2842 crore in the half year ended September 30, 2025. The cash-flow statement classifies the same Rs 6.6805 crore dividend receipt as an investing inflow, rather than an operating inflow.

What happened to cash after investment and financing flows?

Haryana Capfin's cash and cash equivalents fell by Rs 11.83 lakh to Rs 2.02 lakh at September 30, 2026, from Rs 13.85 lakh at the beginning of the year. The Rs 12.9544 crore investing outflow and Rs 88.05 lakh financing outflow were mostly offset by the Rs 13.7166 crore operating inflow.

Financing cash flow consisted solely of Rs 88.05 lakh of interest paid in the half year, compared with Rs 9.22 lakh in the year ended March 31, 2026. The cash-flow statement discloses no borrowing proceeds or repayment during the half year, while the balance sheet shows borrowings declined to Rs 16.7641 crore from Rs 21.7141 crore at March 31, 2026.

Other financial assets fell to Rs 4.46 lakh at September 30, 2026, from Rs 20.1672 crore six months earlier. That balance-sheet movement is broadly consistent with the Rs 20.1226 crore cash-flow adjustment for other assets, but the filing does not provide an item-by-item reconciliation between the two lines.

Other financial liabilities increased to Rs 90.73 lakh from Rs 7.37 lakh over the same period. The cash-flow statement separately reports a Rs 4.1304 crore movement in other current liabilities, but does not identify the individual components or commercial reasons behind that cash-flow movement.

How did investment values and comprehensive income change?

Haryana Capfin's investment balance rose to Rs 512.0943 crore at September 30, 2026, from Rs 373.91 crore at March 31, 2026, an increase of Rs 138.1843 crore. That increase was substantially larger than the Rs 19.635 crore cash purchase of non-current investments, meaning cash purchases alone do not explain the change in the balance-sheet balance.

The company reported a Rs 118.5494 crore fair-value gain on investments in other comprehensive income for the half year, alongside a Rs 16.687 crore tax item. Total other comprehensive income was Rs 135.2364 crore, reversing a Rs 36.4878 crore loss in the corresponding half year ended September 30, 2025.

Total comprehensive income reached Rs 139.2167 crore in the half year, whereas profit for the period was Rs 3.9803 crore. The difference reflects the investment fair-value and tax movements reported outside profit or loss, and helps reconcile the large increase in the investment balance with the lower cash investment purchase figure.

Profit for the period fell from Rs 4.462 crore in the half year ended September 30, 2025, to Rs 3.9803 crore in the latest half year. Profit before tax declined from Rs 5.9613 crore to Rs 5.3224 crore, while total expenses increased from Rs 32.29 lakh to Rs 1.3581 crore, including finance cost of Rs 88.05 lakh versus Rs 2,000 a year earlier.

Conclusion

Haryana Capfin's half-year cash flows show that a Rs 13.7166 crore operating inflow, principally supported by a Rs 20.1226 crore decrease in other assets, was directed alongside Rs 6.6805 crore of dividend receipts toward Rs 19.635 crore of non-current investment purchases. The resulting Rs 12.9544 crore net investing outflow and Rs 88.05 lakh interest payment left cash at Rs 2.02 lakh.

The filing does not disclose the holdings within the Rs 512.0943 crore investment balance or reconcile individual other-asset movements to the cash-flow statement. The next results should show whether other financial assets remain near Rs 4.46 lakh, whether finance costs remain near Rs 88.05 lakh, and how further fair-value movements affect investment values and comprehensive income.