Robokidz projects FY27 working capital of Rs 62.9152 crore

Robokidz Eduventure s Limited projects working capital of Rs 62.9152 crore at March 31, 2027, compared with Rs 31.4858 crore at March 31, 2026. The near-doubling is driven by projected current assets of Rs 95.3447 crore, including Rs 59.3314 crore of receivables, while receivable days are estimated to rise to 136 from 129.

Why is Robokidz working capital projected to nearly double in FY27?

Robokidz projects net working capital to increase by Rs 31.4294 crore, from Rs 31.4858 crore at March 31, 2026 to Rs 62.9152 crore at March 31, 2027. Working capital is current assets less current liabilities, showing the funds committed to short-term assets after short-term obligations are deducted. The board approved the incremental requirement on July 1, 2026, and Goyal Goyal & Co., Chartered Accountants, certified the FY27 estimate on July 2, 2026.

The increase results from a planned rise in current assets alongside a projected reduction in current liabilities. Current assets are estimated at Rs 95.3447 crore in FY27, up Rs 29.419 crore from Rs 65.9257 crore in FY26, while current liabilities are forecast to fall by Rs 2.0104 crore to Rs 32.4295 crore. The disclosed use of funds is therefore directed primarily at inventory, customer receivables and other short-term operating requirements rather than fixed-asset expenditure.

The funding requirement is based on management estimates and has not been appraised by a bank or financial institution. Robokidz states that actual allocation and costs may change with financial and market conditions, business strategy, competition and other external circumstances. If the requirement rises, the company says it may use available means including internal accruals and additional debt from current or future lenders.

What assets are behind Robokidz’s FY27 working-capital requirement?

Robokidz’s FY27 current assets are led by trade receivables of Rs 59.3314 crore and inventory of Rs 29.5933 crore, together representing Rs 88.9247 crore of the projected Rs 95.3447 crore total. Receivables are expected to increase by Rs 7.5719 crore from Rs 51.7595 crore in FY26. Inventory is forecast to rise by Rs 18.2942 crore from Rs 11.2991 crore, while short-term loans and advances are estimated to increase from Rs 2.8671 crore to Rs 6.42 crore.

Robokidz supplies science, technology, engineering and mathematics, or STEM, robotics and artificial-intelligence educational kits, consumables and laboratory equipment. Its working-capital plan includes procurement of inventory, execution of customer orders and projects, advance payments to suppliers and manufacturers, and associated operating requirements. The company says it also intends to retain critical imported components to reduce exposure to supply disruptions and price fluctuations.

Inventory holding is projected at 50 days in FY27, compared with 46 days in FY26, 44 days in FY25 and 38 days in FY24. Inventory holding days measure the average period stock remains with the company before sale or use. The FY27 assumption therefore requires both a larger stock balance and four additional days of inventory relative to FY26, with the company citing a broader product range and business expansion as the basis.

Why are Robokidz receivable days expected to reach 136?

Robokidz estimates trade-receivable days of 136 in FY27, up from 129 days in FY26, 111 days in FY25 and 109 days in FY24. Trade receivables are amounts due from customers after goods or services have been supplied. The seven-day increase from FY26 is paired with projected FY27 receivables of Rs 59.3314 crore, making collection timing a material assumption in the working-capital plan.

The company attributes the longer cycle to expected growth in collaborations with private institutions working for government schools under tender-awarded contracts. Robokidz says its customer base primarily comprises educational universities, other educational institutions and private companies that provide services to government schools. These customers operate under structured procurement and payment processes, and internal approvals can extend payment cycles.

Robokidz says these customers generally have strong creditworthiness and that it expects collections to remain timely. That expectation needs to hold for the projected receivable balance to turn into cash within the planned cycle. The disclosed material does not provide a separate estimate for overdue receivables, customer-level concentration or collection losses; it provides holding periods and the company’s explanation of the relevant customer categories.

How will Robokidz fund its FY27 working-capital requirement?

Robokidz plans to fund the Rs 62.9152 crore FY27 working-capital requirement with Rs 23.4573 crore from initial public offering, or IPO, proceeds, Rs 26.9279 crore from net worth and internal accruals, and Rs 12.53 crore from borrowings. The proposed IPO allocation is scheduled for deployment in FY2026-27. The fresh issue also includes up to Rs 2.20 crore for repayment or prepayment of certain borrowings, while the amount for general corporate purposes had not been finalised in the supplied document.

The funding mix changes substantially from FY26. Working-capital borrowings were Rs 22.9323 crore in FY26 and are estimated at Rs 12.53 crore in FY27, a reduction of Rs 10.4023 crore. Net worth and internal accruals are projected to increase to Rs 26.9279 crore from Rs 8.5535 crore, while IPO proceeds provide the remaining Rs 23.4573 crore of the FY27 funding pattern.

Robokidz had bank-sanctioned fund-based working-capital facilities of Rs 30.9032 crore as of March 31, 2026. The company says it has historically funded working capital through internal accruals, equity and bank financing facilities. The projected shift from borrowings toward IPO proceeds and internal accruals therefore depends on completion of the proposed funding plan and the availability of internally generated funds.

What do supplier-credit assumptions mean for the plan?

Robokidz estimates trade payables of Rs 21.9669 crore at March 31, 2027, compared with Rs 20.1415 crore at March 31, 2026. Trade payables are amounts owed to suppliers for materials and services already procured. The payable holding period is projected to remain at 57 days in FY27, unchanged from FY26, after falling to 36 days in FY25 from 62 days in FY24.

The company says it procures raw materials, electronic components and other inputs for scientific toys and educational kits from a diversified supplier network. It attributes the FY25 decline in payable days to improved cash flows and quicker vendor settlements. The 57-day assumption for FY26 and FY27 reflects what Robokidz describes as normalised supplier-credit terms as procurement volumes increase.

The projected 136 receivable days exceed the projected 57 payable days by 79 days in FY27. Trade payables are expected to rise by Rs 1.8254 crore, substantially less than the Rs 18.2942 crore increase in inventory. This difference means the planned inventory expansion is not expected to be funded by a matching increase in supplier credit and instead relies on the stated IPO, accrual and borrowing sources.

Conclusion

Robokidz’s FY27 plan centres on a near-doubling of working capital to Rs 62.9152 crore, led by receivables of Rs 59.3314 crore and inventory of Rs 29.5933 crore. The estimate combines longer projected collection and inventory periods with current liabilities that are expected to decline from Rs 34.4399 crore in FY26 to Rs 32.4295 crore in FY27.

The disclosed schedule calls for deployment of Rs 23.4573 crore of IPO proceeds for working capital in FY2026-27 and up to Rs 2.20 crore for debt repayment or prepayment. The key matters to watch are whether collections remain timely at the projected 136-day receivable cycle, whether the 50-day inventory assumption supports order execution, and whether internal accruals and planned borrowings meet the remaining requirement.