Shakti Polytrap fixed assets more than doubled in FY26

Shakti Polytrap Limited more than doubled its net property, plant and equipment in FY26, taking the carrying amount to Rs 45.71 crore at 31 March 2026 from Rs 18.56 crore a year earlier. The change followed Rs 29.57 crore of additions, led by Rs 21.68 crore for plant and machinery and Rs 7.82 crore for buildings.

How much did Shakti Polytrap’s net fixed assets increase in FY26?

Shakti Polytrap’s net fixed assets increased by Rs 27.15 crore, or about 146%, in FY26. Property, plant and equipment, or PPE, comprises tangible assets including land, plant and machinery, computers, vehicles, office equipment and buildings. Net carrying amount is the gross carrying amount after accumulated depreciation, and it reached Rs 45.71 crore at 31 March 2026, compared with Rs 18.56 crore at 31 March 2025 and Rs 12.36 crore at 31 March 2024.

The FY26 increase was substantially larger than the previous year’s movement. Net PPE rose by Rs 6.20 crore between 31 March 2024 and 31 March 2025, compared with Rs 27.15 crore in FY26. Gross carrying amount rose to Rs 54.04 crore from Rs 25.09 crore, while accumulated depreciation increased to Rs 8.34 crore from Rs 6.53 crore. The FY26 depreciation charge was Rs 1.84 crore, and the asset note records a Rs 61.70 lakh government subsidy.

What did Shakti Polytrap’s FY26 capital spending cover?

Shakti Polytrap recorded Rs 29.57 crore of gross PPE additions in FY26, compared with Rs 7.36 crore in FY25 and Rs 86.53 lakh in FY24. Plant and machinery accounted for Rs 21.68 crore, or about 73% of FY26 additions. Building additions were Rs 7.82 crore, or about 26%, while computers, vehicles and office equipment together accounted for Rs 6.52 lakh.

The mix left plant and machinery as Shakti Polytrap’s largest completed asset category at 31 March 2026. Its net carrying amount was Rs 33.13 crore, equal to about 72% of total net PPE of Rs 45.71 crore. Buildings had a net carrying amount of Rs 10.85 crore and land was Rs 1.13 crore. Vehicles, computers and office equipment together represented Rs 59.43 lakh of the net asset base.

FY26 differed from FY25 because the higher expenditure covered both machinery and buildings. Shakti Polytrap added Rs 7.36 crore of plant and machinery in FY25 but reported no building additions in that period. In FY26, plant-and-machinery additions were nearly three times the FY25 figure, while the Rs 7.82 crore building addition lifted gross building value to Rs 11.95 crore from Rs 4.13 crore at 31 March 2025.

How much of Shakti Polytrap’s plant investment remained unfinished?

Shakti Polytrap had Rs 7.45 crore of capital work-in-progress, or CWIP, at 31 March 2026, entirely in plant and machinery projects less than one year old. CWIP is spending on a capital project not yet transferred to PPE as a completed asset. The FY26 ageing schedule reported no building project in progress, no temporarily suspended project, and no plant-and-machinery project in any ageing band above one year.

The CWIP balance rose from Rs 2.04 crore at 31 March 2025. The FY25 total comprised Rs 1.43 crore for plant and machinery and Rs 60.89 lakh for buildings, including Rs 10.17 lakh of building CWIP aged one to two years. At 31 March 2026, the reported balance had shifted wholly to newer plant-and-machinery work, with nil amounts in the one-to-two-year, two-to-three-year and more-than-three-year categories.

The Rs 7.45 crore of unfinished plant-and-machinery work was about 16% of Shakti Polytrap’s Rs 45.71 crore completed net PPE at 31 March 2026. It was also about one-quarter of the Rs 29.57 crore of gross additions capitalised during FY26. CWIP becomes completed PPE when a project is ready for its intended use and is transferred into the relevant asset category; the supplied accounts do not state a commissioning date or production capacity for these projects.

How did borrowings and operations change during the asset build-out?

Shakti Polytrap’s borrowings increased in FY26 alongside the increase in fixed assets. Long-term borrowings were Rs 31.96 crore at 31 March 2026, up from Rs 17.52 crore at 31 March 2025, while short-term borrowings rose to Rs 40.55 crore from Rs 30.48 crore. Total secured borrowings were Rs 72.11 crore at 31 March 2026, compared with Rs 42.92 crore a year earlier.

Secured term loans from banks and financial institutions were the largest long-term borrowing component at Rs 31.56 crore at 31 March 2026, up from Rs 12.44 crore at 31 March 2025. Current maturities of long-term borrowings, which are repayments due within the following year, rose to Rs 5.04 crore from Rs 2.63 crore. Other current liabilities also included Rs 39.65 lakh of creditors against fixed assets at 31 March 2026, whereas that line had no balance at 31 March 2025.

Shakti Polytrap’s revenue from manufactured goods rose to Rs 111.64 crore in FY26 from Rs 66.15 crore in FY25, while revenue from traded goods was Rs 104.01 crore compared with Rs 101.00 crore. Total revenue from operations therefore increased to Rs 215.65 crore from Rs 166.24 crore. The financial statements show that higher asset investment, borrowings and revenue occurred in the same period, but they do not specify whether revenue growth resulted from new machinery, nor do they disclose utilisation of the completed assets.

Conclusion

Shakti Polytrap’s FY26 accounts show that the fixed-asset base changed materially: net PPE rose by Rs 27.15 crore to Rs 45.71 crore after Rs 29.57 crore of additions. The spending was concentrated in plant and machinery and buildings, while secured borrowings increased to Rs 72.11 crore and manufactured-goods revenue rose to Rs 111.64 crore.

The next disclosed item to watch is the transfer of Rs 7.45 crore of plant-and-machinery CWIP into completed PPE, because the FY26 schedule classifies all of it as less than one year old. The supplied financial statements do not disclose a commissioning timetable, production capacity, utilisation target or any later update on these projects, leaving the timing of their operational use unresolved.