Jivial Industries reports Rs 11.1915 crore half-year revenue

Jivial Industries Limited reported revenue from operations of Rs 11.1915 crore and profit after tax of Rs 1.6645 crore for the half year ended September 30, 2026, following its July 1, 2026 listing on BSE Limited’s SME platform; net cash used in operating activities was Rs 4.4460 crore.

How did Jivial Industries' half-year revenue change?

Jivial Industries generated revenue from operations of Rs 11.1915 crore in the six months ended September 30, 2026, compared with Rs 8.6849 crore in the six months ended March 31, 2026 and Rs 8.9494 crore in the six months ended September 30, 2025. Revenue therefore rose by Rs 2.5066 crore from the preceding six months and by Rs 2.2421 crore from the year-earlier half.

Other income was Rs 7.60 lakh in the latest period, taking total revenue to Rs 11.2675 crore, against Rs 8.7447 crore in the March 2026 half and Rs 8.9924 crore a year earlier. The filing states that Jivial Industries has one reportable segment under Accounting Standard 17, so it does not provide revenue by product or geography.

What profit did Jivial Industries make in the latest half year?

Jivial Industries reported profit after tax of Rs 1.6645 crore for the half year ended September 30, 2026. This was Rs 18.55 lakh higher than Rs 1.4790 crore in the immediately preceding six months, but Rs 61.04 lakh below the Rs 2.2749 crore reported for the half year ended September 30, 2025.

Profit before tax was Rs 2.0094 crore, compared with Rs 1.8239 crore in the March 2026 half and Rs 2.7963 crore in the September 2025 half. The latest period included current tax expense of Rs 34.86 lakh and a deferred-tax credit of Rs 0.36 lakh. Basic and diluted earnings per share were Rs 4.17, versus Rs 4.47 in the preceding half and Rs 6.87 a year earlier.

The year-on-year comparison shows that higher revenue did not translate into higher profit after tax because total expenses rose to Rs 9.2581 crore from Rs 6.1961 crore. Material costs were Rs 7.0783 crore in the latest half, inventory-change expense was Rs 93.64 lakh, and other expenses were Rs 70.15 lakh.

Why was Jivial Industries' operating cash flow negative?

Jivial Industries recorded net cash used in operating activities of Rs 4.4460 crore for the half year ended September 30, 2026, despite profit before tax of Rs 2.0094 crore. The cash-flow statement shows that working-capital movements took cash out of the business after operating profit before working-capital changes of Rs 2.2007 crore.

The largest outflow was a Rs 4.6069 crore increase in short-term loans and advances. Inventories increased by Rs 2.7041 crore, other assets increased by Rs 75.63 lakh and trade payables declined by Rs 57.86 lakh; a Rs 2.8185 crore reduction in trade receivables partly offset those uses. For comparison, net cash from operating activities was Rs 54.43 lakh in the year ended March 31, 2026.

Investing activities used Rs 8.7762 crore in the latest half, including Rs 7.7643 crore classified as an increase in other non-current assets and Rs 84.95 lakh for property, plant and equipment. Financing activities provided Rs 23.6457 crore, including Rs 20.6808 crore of securities-premium proceeds net of initial public offering, or IPO, related expenses, resulting in a Rs 10.4235 crore increase in cash and cash equivalents.

How has Jivial Industries used its IPO proceeds?

Jivial Industries had utilised Rs 16.1958 crore of the Rs 26.6482 crore raised through its IPO as of September 30, 2026, leaving Rs 10.4524 crore. The fresh issue comprised 13,59,600 equity shares at an issue price of Rs 196 each, and the company stated that its shares were listed on BSE Limited’s SME platform on July 1, 2026.

New machinery had received Rs 5.15 crore of the Rs 14.40 crore allocated, leaving Rs 9.25 crore for that object. Manufacturing-facility renovation had used Rs 3.0274 crore of Rs 4 crore, general corporate purposes had used Rs 3.7641 crore of Rs 3.9939 crore, and issue-related expenses of Rs 4.2543 crore had been fully used.

Jivial Industries stated that there was no deviation or variation from the IPO objects set out in its prospectus. Its Audit Committee reviewed the utilisation statement on November 5, 2026, while the statutory auditor’s limited-review report dated the same day said nothing had come to its attention indicating a material misstatement in the unaudited financial results.

What changed in Jivial Industries' balance sheet after the IPO?

Jivial Industries' total equity and liabilities rose to Rs 40.5251 crore at September 30, 2026 from Rs 16.1960 crore at March 31, 2026. Shareholders’ funds increased to Rs 36.1758 crore from Rs 12.4708 crore, comprising share capital of Rs 4.6696 crore and reserves and surplus of Rs 31.5062 crore.

Current liabilities were Rs 3.8284 crore, compared with Rs 2.9798 crore at March 31, 2026. Short-term borrowings increased to Rs 2.1264 crore from Rs 23.68 lakh, while long-term borrowings declined to Rs 50.59 lakh from Rs 73.54 lakh.

On the asset side, inventories rose to Rs 9.3456 crore from Rs 6.6415 crore, while trade receivables fell to Rs 88.98 lakh from Rs 3.7083 crore. Non-current assets increased to Rs 12.7154 crore from Rs 4.2404 crore, including other non-current assets of Rs 8.6613 crore and capital work-in-progress of Rs 1.8481 crore.

Conclusion

Jivial Industries' September 2026 half-year results show revenue rising from both the March 2026 and September 2025 comparative periods, while profit after tax increased sequentially but declined year on year. The filing also shows a Rs 4.4460 crore operating cash outflow, with increases in short-term loans and advances, inventory and other assets outweighing the cash released from receivables.

The next disclosed item to watch is deployment of the Rs 10.4524 crore of IPO proceeds that remained unutilised at September 30, 2026, including Rs 9.25 crore earmarked for new machinery. Jivial Industries also reported Rs 1.8481 crore of capital work-in-progress, while its single-segment disclosure does not provide a product-level or geography-level revenue breakdown.