Jeevan Scientific Technology Limited capex exceeds operating cash flow

Jeevan Scientific Technology Limited spent Rs 16.48 crore on fixed assets in the half year ended 30 September 2026, exceeding consolidated net cash from operating activities of Rs 15.98 crore by Rs 49 lakh. Jeevan Scientific’s property, plant and equipment balance increased to Rs 32.80 crore from Rs 25.44 crore at 31 March 2026.

What did Jeevan Scientific spend on fixed assets?

Jeevan Scientific spent Rs 16.48 crore on purchases of fixed assets during the six months ended 30 September 2026. The consolidated cash-flow statement records the outflow within investing activities, while net cash used in investing activities was Rs 16.45 crore after the other investing movements disclosed in the filing.

The fixed-asset outlay was Rs 49 lakh higher than the group’s Rs 15.98 crore of net cash from operating activities in the same half year. Operating cash flow followed Rs 16.91 crore of cash generated from operations before tax and Rs 92.80 lakh of taxes paid. On that reported cash-flow basis, operating cash did not fully cover the fixed-asset purchase outflow.

The difference between the fixed-asset purchase figure and total investing outflow was limited to other investing entries reported in the cash-flow statement. The filing does not identify a project, capacity addition, completion date or intended use for the Rs 16.48 crore expenditure.

How did Jeevan Scientific fund the investment gap?

Jeevan Scientific generated Rs 4.71 crore of net cash from financing activities in the half year ended 30 September 2026. Together with operating cash flow, this financing inflow accompanied the fixed-asset outlay and a rise in consolidated cash and cash equivalents to Rs 13.73 crore at 30 September from Rs 9.51 crore at 31 March 2026.

Consolidated non-current borrowings rose to Rs 11.66 crore at 30 September from Rs 10.00 crore at 31 March, while current borrowings increased to Rs 8.57 crore from Rs 7.06 crore. Combined borrowings consequently increased by Rs 3.17 crore to Rs 20.23 crore over the six-month period.

Lease liabilities also increased during the period. Non-current lease liabilities were Rs 4.82 crore at 30 September, compared with Rs 2.87 crore at 31 March, and current lease liabilities increased to Rs 1.68 crore from Rs 1.25 crore. The filing does not allocate the reported borrowing or lease movements to specific asset purchases.

Which asset balances increased after the spending?

Jeevan Scientific’s property, plant and equipment stood at Rs 32.80 crore on 30 September 2026, up Rs 7.37 crore from Rs 25.44 crore at 31 March. Capital work in progress, or CWIP, increased by Rs 95 lakh to Rs 5.66 crore from Rs 4.71 crore, meaning part of the asset base remained under development at the reporting date.

Right-of-use assets rose by Rs 2.29 crore to Rs 5.88 crore, while other intangible assets increased by Rs 46 lakh to Rs 7.51 crore. The 30 September balance sheet also records land of Rs 1.89 crore, with no 31 March comparative amount displayed for that line in the filing.

Other non-current assets declined to Rs 9.62 crore from Rs 12.08 crore, while investments were nearly unchanged at Rs 2.07 crore versus Rs 2.08 crore. The balance-sheet expansion was therefore concentrated in property, plant and equipment, CWIP and right-of-use assets rather than in the investment balance.

How does the group position compare with the standalone company?

Jeevan Scientific’s standalone cash-flow statement shows Rs 14.43 crore of purchases of property, plant and equipment, including capital advances and capital creditors, in the half year ended 30 September 2026. Standalone net cash from operating activities was Rs 12.77 crore, leaving fixed-asset purchases Rs 1.66 crore above that operating cash measure.

The consolidated fixed-asset purchase figure of Rs 16.48 crore was Rs 2.05 crore higher than the standalone amount. The group includes Nayas Laboratories Private Limited as a 59.26% subsidiary and Naya Pharma Private Limited as a 31.03% associate, according to the results notes.

Jeevan Scientific identifies Clinical Research Services as its one reportable business segment, so it does not provide a segment-level capital-expenditure split under Indian Accounting Standard 108. Standalone property, plant and equipment purchases in the six-month period were also above the Rs 11.35 crore reported for the full year ended 31 March 2026.

What balance-sheet changes should readers track?

Jeevan Scientific’s total equity increased to Rs 76.92 crore at 30 September 2026 from Rs 71.94 crore at 31 March, while non-controlling interest rose to Rs 66 lakh from Rs 1 lakh. Trade receivables were broadly stable at Rs 20.81 crore versus Rs 20.69 crore, while other current financial assets increased to Rs 4.20 crore from Rs 2.14 crore.

Trade payables to micro, small and medium enterprises rose to Rs 2.63 crore from Rs 2.22 crore, and trade payables to other parties increased to Rs 4.62 crore from Rs 3.91 crore. Other current liabilities rose to Rs 5.20 crore from Rs 3.85 crore, alongside the higher asset base, borrowings and lease liabilities.

The consolidated results were approved by the board on 11 November 2026 and were subject to a limited review by Pavuluri & Co. The auditors said nothing had come to their attention to indicate that the consolidated statement failed to make the required disclosures or contained a material misstatement; the associate’s interim information was management-certified and not reviewed by the auditors.

Conclusion

Jeevan Scientific’s first-half cash flows show fixed-asset purchases of Rs 16.48 crore, marginally above Rs 15.98 crore of consolidated operating cash generation. The 30 September balance sheet reflects the investment period through higher property, plant and equipment, CWIP, right-of-use assets, borrowings and lease liabilities.

The next results will show whether CWIP of Rs 5.66 crore moves into completed assets and whether operating cash flow continues to cover fixed-asset spending. The filing discloses no capex target, project timetable or stated completion plan, leaving the nature and timing of the underlying investment unresolved.