Antala’s Rs 1.65 Crore Common-Control Loan Stayed Flat

Antala reported an unsecured Rs 1.65 crore loan outstanding to Perfect Woven Sack Private Limited, an entity under common control, at September 30, 2026. The balance was unchanged from March 31, 2026, and accounted for Antala’s entire related-party short-term loans-and-advances balance at the September 2026 reporting date.

What was Antala’s loan exposure to Perfect Woven Sack?

Antala’s disclosed outstanding unsecured loan to Perfect Woven Sack was Rs 1.65 crore at September 30, 2026. The related-party schedule identifies Perfect Woven Sack as an entity under common control, distinguishing it from promoter-directors, their relatives, a Hindu Undivided Family and director-linked proprietorships listed in the same disclosure.

The loan balance was also Rs 1.65 crore at March 31, 2026. The unchanged balance over the six months ended September 30, 2026 indicates no net movement in the disclosed principal between those two reporting dates. Antala’s related-party transaction table records no unsecured loan given to Perfect Woven Sack during the September 2026 half year.

The disclosure classifies the amount as an unsecured loan, meaning no collateral is identified in the supplied schedules. The balance is a loan receivable for Antala, rather than a trade receivable, sale, purchase, trade payable or remuneration payment. The records do not state its interest rate, purpose, maturity date, repayment schedule or any security.

How did Antala’s Rs 1.65 crore common-control loan develop?

Antala’s loan outstanding to Perfect Woven Sack increased from Rs 53.81 lakh at March 31, 2025 to Rs 1.65 crore at March 31, 2026, then remained at Rs 1.65 crore at September 30, 2026. The increase across the 12 months to March 2026 was Rs 1.11 crore, whereas the following six-month period showed no change in the reported closing balance.

Antala recorded Rs 48.91 lakh of unsecured loans given to Perfect Woven Sack in the period from August 5, 2024 to March 31, 2025, followed by Rs 1.04 crore in the year ended March 31, 2026. A loan-given figure measures transactions during a period, while the outstanding-loan figure measures the amount remaining at a reporting date. The Rs 1.04 crore transaction amount therefore cannot by itself establish the closing balance or repayments.

The source identifies no loan balance for Perfect Woven Sack at August 4, 2024 or March 31, 2024. For the Rs 1.65 crore balance to persist after September 30, 2026, it would need to remain unrepaid or any repayment would need to be offset by further lending, neither of which is disclosed in the supplied material.

How large was the related-party loan within Antala’s working capital?

Antala reported Rs 4.88 crore in total short-term loans and advances at September 30, 2026, including Rs 1.65 crore to related parties and Rs 3.23 crore to others. Perfect Woven Sack’s loan was therefore the full related-party component, while advances to others were Rs 1.58 crore higher than advances to related parties.

Total short-term loans and advances declined by Rs 6.64 lakh from Rs 4.95 crore at March 31, 2026 to Rs 4.88 crore at September 30, 2026. The decline resulted from loans and advances to others falling from Rs 3.30 crore to Rs 3.23 crore; the related-party balance stayed at Rs 1.65 crore. At March 31, 2025, the category totalled Rs 1.35 crore, including Rs 53.81 lakh to related parties.

Antala’s other working-capital items increased during the September 2026 half year. Inventory rose to Rs 17.96 crore from Rs 13.92 crore at March 31, 2026, and trade receivables rose to Rs 8.37 crore from Rs 5.18 crore. Cash and cash equivalents declined to Rs 46.51 lakh from Rs 88.21 lakh over the same dates, placing the common-control loan alongside higher commitments to stock and customer credit.

The current ratio, which the ratio schedule calculates as current assets divided by current liabilities, was 2.86 at September 30, 2026, compared with 2.45 at March 31, 2026. Current assets were Rs 32.06 crore and current liabilities were Rs 11.21 crore at September 2026. This broad liquidity measure does not disclose the timing or collectability of the Perfect Woven Sack loan.

What other related-party balances and disclosures matter?

Antala reported Rs 17.91 lakh payable to Excel Enterprise as sundry creditors at September 30, 2026, unchanged from March 31, 2026. Excel Enterprise is listed as a proprietorship of a director. Alongside the Perfect Woven Sack loan, this was the only other non-zero related-party outstanding balance shown at September 2026.

The September 2026 half-year related-party schedule also records remuneration of Rs 4.62 lakh for Pankajkumar Chandulal Antala, Rs 1.34 lakh for Lataben Rajeshbhai Antala, Rs 17.59 lakh for Rajeshkumar Chandulal Antala and Rs 5.51 lakh for Hetalben Pankajbhai Antala. These are period expenses and do not alter the classification of the Perfect Woven Sack amount as a loan receivable.

Antala states that balances of trade receivables, trade payables, borrowings, loans and advances, and deposits are subject to confirmation. This applies to the Rs 1.65 crore loan as a loans-and-advances balance. The restated statements say no audit qualifications requiring corrective adjustments were identified and no subsequent events after September 30, 2026 had a material impact, but neither disclosure confirms repayment or recovery terms.

Antala reported interest income of Rs 1.79 lakh for the six months ended September 30, 2026 and Rs 8.40 lakh for the year ended March 31, 2026. The schedules do not assign either amount to Perfect Woven Sack, so they cannot establish an interest rate, payment history or accrued interest for the common-control loan. The supplied disclosures also do not identify a provision for non-recovery of that balance.

Conclusion

Antala’s Rs 1.65 crore loan to Perfect Woven Sack was a continuing unsecured related-party exposure at both March 31 and September 30, 2026. The amount had risen from Rs 53.81 lakh at March 31, 2025, while inventory and trade receivables reached Rs 17.96 crore and Rs 8.37 crore respectively at the September 2026 cut-off.

The next financial update should show whether Perfect Woven Sack repays the loan, receives further funds or continues with the same closing balance. Antala has not disclosed a repayment plan, maturity, interest rate or security, and has said loans and advances remain subject to confirmation; those unresolved terms will determine how the reported exposure changes after September 30, 2026.