Jay Bee Laminations short-term debt rises to Rs 74.25 crore

Jay Bee Laminations Limited reported short-term borrowings of Rs 74.25 crore at September 30, 2026, up from Rs 27.43 crore at March 31, 2026, as inventory rose by Rs 35.86 crore and operating activities used Rs 42.18 crore of cash during the half year.

Why did Jay Bee Laminations’ short-term borrowings increase?

Jay Bee Laminations’ short-term borrowings increased by Rs 46.83 crore to Rs 74.25 crore at September 30, 2026, from Rs 27.43 crore at March 31, 2026. The cash-flow statement records Rs 46.83 crore of net proceeds from short-term borrowings in the half year ended September 30, 2026, while long-term borrowings fell to Rs 3.72 crore from Rs 4.56 crore.

The rise in short-term funding coincided with a wider operating cash outflow. Net cash used in operating activities was Rs 42.18 crore for the period ended September 30, 2026, compared with Rs 4.67 crore used in the corresponding period ended September 30, 2025. Net cash from financing activities increased to Rs 39.89 crore from Rs 16.62 crore, reflecting the larger short-term borrowing inflow.

How much did Jay Bee Laminations’ inventory increase?

Jay Bee Laminations’ inventory increased by Rs 35.86 crore to Rs 77.29 crore at September 30, 2026, from Rs 41.43 crore at March 31, 2026. Trade receivables moved in the opposite direction, falling by Rs 16.48 crore to Rs 174.18 crore from Rs 190.66 crore over the same balance-sheet dates.

The cash-flow statement records Rs 29.86 crore of cash used by inventories in the half year ended September 30, 2026, compared with Rs 17.94 crore generated from inventories in the half year ended September 30, 2025. The filing presents both the Rs 35.86 crore balance-sheet increase and the Rs 29.86 crore cash-flow movement, but does not provide a reconciliation between them.

Trade payables to creditors other than micro and small enterprises declined to Rs 83.69 crore at September 30, 2026 from Rs 122.37 crore at March 31, 2026. Dues to micro and small enterprises increased to Rs 1.93 crore from Rs 1.35 crore, while the cash-flow statement shows Rs 38.10 crore of cash use from trade and other payables.

Which working-capital movements used Jay Bee Laminations’ cash?

Jay Bee Laminations reported Rs 55.60 crore of cash used by working-capital movements in the half year ended September 30, 2026, against Rs 13.20 crore used in the corresponding 2025 period. The latest movement included Rs 38.10 crore from trade and other payables, Rs 29.86 crore from inventories and Rs 9.21 crore from other assets.

Those cash uses were partly offset by Rs 16.23 crore generated from trade and other receivables and Rs 8.01 crore from short-term loans and advances. Short-term loans and advances on the balance sheet declined to Rs 12.06 crore at September 30, 2026 from Rs 20.07 crore at March 31, 2026, a reduction of Rs 8.01 crore.

Cash and bank balances were Rs 19.64 crore at September 30, 2026, compared with Rs 3.37 crore at March 31, 2026. Separately, the cash-flow statement reports closing cash and cash equivalents of Rs 5.31 lakh, versus opening cash and cash equivalents of Rs 37.04 lakh; the filing does not reconcile those cash-flow measures to the balance-sheet cash and bank balance.

How did higher borrowings coincide with Jay Bee Laminations’ results?

Jay Bee Laminations reported revenue from operations of Rs 213.00 crore for the half year ended September 30, 2026, compared with Rs 218.73 crore in the half year ended September 30, 2025 and Rs 329.24 crore in the half year ended March 31, 2026. Net profit was Rs 5.62 crore, above Rs 3.69 crore a year earlier but below Rs 14.58 crore in the March 2026 half year.

Finance costs were Rs 6.10 crore in the latest half year, compared with Rs 3.53 crore in the September 2025 half year and Rs 4.45 crore in the March 2026 half year. The filing shows the increase alongside the rise in short-term borrowings, but does not allocate finance costs by borrowing type or disclose interest rates and maturity terms.

The manufacturing segment recorded revenue of Rs 180.60 crore in the September 2026 half year, down from Rs 187.78 crore in the March 2026 half year. The EPC Turnkey Projects segment contributed Rs 32.40 crore, compared with Rs 141.46 crore in the March 2026 half year, while manufacturing segment assets rose to Rs 246.09 crore from Rs 178.24 crore.

What changed in Jay Bee Laminations’ balance sheet?

Jay Bee Laminations’ total assets increased to Rs 344.86 crore at September 30, 2026 from Rs 337.53 crore at March 31, 2026. Reserves and surplus increased to Rs 148.95 crore from Rs 143.33 crore, matching the Rs 5.62 crore net profit reported for the half year, while share capital remained Rs 22.57 crore.

Current-liability movements were led by the Rs 46.83 crore increase in short-term borrowings and the Rs 38.68 crore reduction in trade payables to creditors other than micro and small enterprises. Other current liabilities declined to Rs 5.16 crore from Rs 8.34 crore, while long-term provisions increased to Rs 1.97 crore from Rs 1.45 crore.

The balance-sheet figures show inventory rising to Rs 77.29 crore while supplier-credit balances declined and short-term borrowings increased to Rs 74.25 crore. The filing does not specify the composition of inventory, identify lenders, or set out a repayment schedule for the short-term borrowings.

Conclusion

Jay Bee Laminations’ September 2026 half-year filing shows a working-capital draw that combined a Rs 35.86 crore inventory increase with a Rs 42.18 crore operating cash outflow. The company reported Rs 46.83 crore of net short-term borrowing proceeds, taking the closing short-term borrowing balance to Rs 74.25 crore as long-term borrowings declined by Rs 83.74 lakh.

The filing discloses no borrowing target, repayment plan or scheduled financing event. The next results will show whether inventory, reported at Rs 77.29 crore at September 30, 2026, changes alongside short-term borrowings, trade receivables of Rs 174.18 crore and finance costs of Rs 6.10 crore.