Nirmitee Robotics inventory triples as short debt rises

Nirmitee Robotics India Limited reported inventory of Rs 1.572 crore at 30 September 2026, up from Rs 50.21 lakh at 31 March 2026, while short-term borrowings increased by Rs 66.40 lakh to Rs 1.811 crore. The half-year cash-flow statement records the inventory increase as a Rs 1.0699 crore working-capital outflow.

How did Nirmitee Robotics’ inventory and borrowings change?

Nirmitee Robotics increased inventories by Rs 1.0699 crore in the half year ended 30 September 2026, taking the closing balance to Rs 1.572 crore from Rs 50.21 lakh at 31 March 2026. The closing inventory balance was more than three times the March 2026 level. The cash-flow statement reports the same Rs 1.0699 crore inventory movement as an outflow under working-capital changes.

Nirmitee Robotics’ short-term borrowings rose to Rs 1.811 crore at 30 September 2026 from Rs 1.1471 crore at 31 March 2026. The Rs 66.40 lakh increase was included in the operating cash-flow reconciliation as a working-capital adjustment. Long-term borrowings remained unchanged at Rs 28.58 lakh on both balance-sheet dates, so the reported increase in borrowings was confined to the short-term category.

The filing does not identify the products held in the higher inventory balance, name the lenders, or state management’s reason for the build-up. It does show that inventory absorbed Rs 1.0699 crore during the same six months in which short-term borrowings rose by Rs 66.40 lakh. That makes the borrowing increase a material reported offset to the inventory-related use of cash, rather than a complete match for it.

What does the cash-flow statement show about working capital?

Nirmitee Robotics reported Rs 18.78 lakh of net cash flow from operating activities for the half year ended 30 September 2026. Operating profit before working-capital changes was Rs 49.21 lakh, but the Rs 1.0699 crore inventory outflow exceeded that amount before other asset and liability movements were taken into account. For comparison, net operating cash flow was Rs 1.2781 crore for the full year ended 31 March 2026, a longer reporting period.

Short-term borrowings provided Rs 66.40 lakh in the latest half-year operating cash-flow reconciliation. A Rs 10.19 lakh reduction in trade receivables and a Rs 30.27 lakh reduction in other current assets also supplied cash. Short-term loans and advances decreased by Rs 78,000, while trade payables increased by Rs 2.75 lakh, adding further reported cash support.

These inflows were partly offset by a Rs 17.72 lakh decrease in other current liabilities and a Rs 16.11 lakh decrease in short-term provisions. The filing therefore shows several working-capital movements alongside the inventory build, rather than attributing the cash-flow outcome to a single item. Cash generated from operations was Rs 18.78 lakh, and the company reported no income-tax payment or refund for the latest half year.

How did other current assets and liabilities move?

Nirmitee Robotics’ trade receivables fell to Rs 1.4718 crore at 30 September 2026 from Rs 1.5736 crore at 31 March 2026. The Rs 10.19 lakh decline is shown as a cash inflow in the operating cash-flow statement. This reduction contrasted with the Rs 1.0699 crore rise in inventory, which was the largest reported operating-asset cash outflow for the period.

Other current assets decreased to Rs 89.11 lakh from Rs 1.1938 crore, a reduction of Rs 30.27 lakh. Short-term loans and advances moved down to Rs 31.35 lakh from Rs 32.13 lakh. Together, the reductions in receivables, other current assets and short-term loans and advances supplied Rs 41.24 lakh of cash during the half year.

On the liability side, trade payables rose to Rs 3.09 lakh at 30 September 2026 from Rs 35,000 at 31 March 2026. Other current liabilities declined to Rs 7.86 lakh from Rs 25.58 lakh, while short-term provisions fell to Rs 55.42 lakh from Rs 71.53 lakh. The cash-flow statement records the latter two declines as a combined Rs 33.83 lakh use of cash.

Cash and cash equivalents nonetheless increased by Rs 12.60 lakh to Rs 2.4848 crore at 30 September 2026 from Rs 2.3588 crore at 31 March 2026. Net cash used in investing activities was Rs 1.21 lakh, while net cash used in financing activities was Rs 4.97 lakh, representing finance costs in the statement. Interest earned was Rs 8.97 lakh during the latest half year.

How did Nirmitee Robotics’ earnings compare year on year?

Nirmitee Robotics reported revenue from operations of Rs 2.9973 crore for the half year ended 30 September 2026, compared with Rs 4.1379 crore for the half year ended 30 September 2025. Other income rose to Rs 8.97 lakh from Rs 1.18 lakh, taking total income to Rs 3.087 crore from Rs 4.1496 crore. The year-on-year decline in revenue was therefore partly offset by higher other income.

Profit before tax was Rs 48.04 lakh for the September 2026 half year, compared with Rs 2.3262 crore in the corresponding previous half year. The company reported no current tax expense for the latest half year and reported profit for the period of Rs 48.04 lakh, against Rs 2.3299 crore a year earlier. Basic and diluted earnings per share were both Rs 1.33 in the latest half year, versus Rs 0.34 in the comparative half-year column presented in the filing.

The expense mix also changed between the two half years. Purchase of stock-in-trade was Rs 61.46 lakh in the September 2026 half year, down from Rs 1.4057 crore a year earlier, while changes in inventories were negative Rs 1.0699 crore, compared with negative Rs 34.34 lakh. Employee-benefit expense rose to Rs 1.2211 crore from Rs 71.04 lakh, and other operating expenses rose to Rs 1.7394 crore from Rs 1.3531 crore.

The balance sheet showed total assets of Rs 9.2413 crore at 30 September 2026, compared with Rs 8.4062 crore at 31 March 2026. Share capital was unchanged at Rs 3.6012 crore, while reserves and surplus increased to Rs 2.8794 crore from Rs 2.3976 crore. Property, plant and equipment declined to Rs 42.65 lakh from Rs 47.74 lakh, while the largest asset movement was the Rs 1.0699 crore inventory increase.

Conclusion

Nirmitee Robotics’ September 2026 half-year filing shows a substantial working-capital shift: inventories rose from Rs 50.21 lakh to Rs 1.572 crore, while short-term borrowings increased by Rs 66.40 lakh to Rs 1.811 crore. Receivables and other current assets declined, helping the company report Rs 18.78 lakh of operating cash flow despite the inventory outflow of Rs 1.0699 crore.

The filing does not disclose an inventory target, a short-term borrowing repayment plan, lender details, or management’s explanation for the inventory increase. The next results will show whether the Rs 1.572 crore inventory balance converts into revenue and cash, and whether short-term borrowings change from the 30 September 2026 level.