Phyto Chem other equity turns negative at September 2026

Phyto Chem (India) Limited reported other equity of negative Rs 98.12 lakh at September 30, 2026, compared with positive Rs 26.93 lakh at March 31, 2026, while trade receivables increased to Rs 17.3887 crore and cash and cash equivalents fell to Rs 1.62 lakh.

Why did Phyto Chem's other equity turn negative?

Phyto Chem's other equity turned negative at September 30, 2026, after falling from positive Rs 26.93 lakh at March 31, 2026 to negative Rs 98.12 lakh. The balance-sheet change was Rs 1.2505 crore over the six-month period. Equity share capital remained unchanged at Rs 4.3002 crore on both dates, meaning the reported reduction in total equity arose through other equity rather than an alteration to share capital.

Phyto Chem reported a total comprehensive loss of Rs 1.2508 crore for the half year ended September 30, 2026, comprising a net loss after tax of Rs 1.2481 crore and other comprehensive loss of Rs 24,000. In the corresponding half year ended September 30, 2025, total comprehensive loss was Rs 1.0307 crore. The filing does not provide a line-by-line reconciliation of other equity, although the half-year comprehensive loss was close to its Rs 1.2505 crore movement.

Total equity, comprising share capital and other equity, declined to Rs 3.319 crore at September 30 from Rs 4.5695 crore at March 31. Total assets nevertheless increased to Rs 28.8048 crore from Rs 28.0529 crore. This means the asset increase of Rs 75.19 lakh occurred alongside a reduction in reported equity of Rs 1.2505 crore.

How did Phyto Chem's receivables and cash change?

Phyto Chem's trade receivables increased by Rs 99.77 lakh to Rs 17.3887 crore at September 30, 2026 from Rs 16.391 crore at March 31. Inventories decreased by Rs 4.51 lakh to Rs 8.2333 crore, while other current assets fell by Rs 3.37 lakh to Rs 41.99 lakh. Receivables were therefore the largest disclosed increase among the current-asset categories during the six months.

Phyto Chem's cash and cash equivalents declined to Rs 1.62 lakh at September 30 from Rs 2.37 lakh at March 31, a decrease of Rs 75,000. The cash-flow statement also reports a net decrease in cash and cash equivalents of Rs 75,000 for the period ended September 30, 2026. Its closing cash balance was substantially smaller than both trade receivables of Rs 17.3887 crore and inventories of Rs 8.2333 crore.

Current assets rose to Rs 26.0581 crore at September 30, 2026 from Rs 25.1467 crore at March 31, an increase of Rs 91.14 lakh. The filing does not disclose receivable ageing, customer concentration, credit terms, overdue balances or a collection schedule. It therefore establishes the increase in receivables and fall in cash, but does not establish when the receivables may convert into cash.

What changed in Phyto Chem's liabilities by September 2026?

Phyto Chem's total liabilities increased to Rs 25.4858 crore at September 30, 2026 from Rs 23.4834 crore at March 31, an increase of Rs 2.0024 crore. Current liabilities increased to Rs 24.8744 crore from Rs 22.7898 crore, while non-current liabilities declined to Rs 61.14 lakh from Rs 69.36 lakh. The increase in current obligations therefore more than offset the decline in non-current liabilities.

Current borrowings were Rs 20.0812 crore at September 30, compared with Rs 20.419 crore at March 31, a decrease of Rs 33.78 lakh. Trade payables other than those due to micro, small and medium enterprises increased to Rs 2.9388 crore from Rs 59.95 lakh. Provisions rose to Rs 1.4061 crore from Rs 1.2975 crore, while other current liabilities declined to Rs 44.83 lakh from Rs 45.49 lakh.

Phyto Chem reported no non-current borrowings at September 30, 2026, compared with Rs 7.42 lakh six months earlier. Other non-current financial liabilities were Rs 61.14 lakh, marginally below Rs 61.94 lakh at March 31. The balance sheet also showed no trade payables due to micro, small and medium enterprises at September 30, against Rs 1.89 lakh at the prior year-end.

How did Phyto Chem's half-year performance compare with last year?

Phyto Chem reported a net loss after tax of Rs 1.2481 crore for the half year ended September 30, 2026, compared with Rs 1.042 crore in the corresponding 2025 half year. Loss before tax widened to Rs 1.2883 crore from Rs 1.098 crore. A deferred-tax credit of Rs 4.02 lakh was reported for the 2026 half year, compared with a deferred-tax credit of Rs 5.60 lakh a year earlier.

Revenue from operations fell to Rs 1.5076 crore for the half year ended September 30, 2026 from Rs 5.8677 crore a year earlier. Other income declined to Rs 5.54 lakh from Rs 70.59 lakh, taking total revenue to Rs 1.563 crore from Rs 6.5736 crore. Total expenses also fell, to Rs 2.8513 crore from Rs 7.6716 crore, but remained above total revenue in both half years.

Raw-material consumption decreased to Rs 1.4082 crore from Rs 5.4999 crore, broadly tracking the lower revenue base. Employee-benefit expense declined to Rs 54.09 lakh from Rs 68.42 lakh, while finance costs rose to Rs 71.33 lakh from Rs 67.38 lakh. The unaudited results were reviewed by the audit committee and approved by the board on November 14, 2026; the statutory auditor issued a limited review report.

Conclusion

Phyto Chem's September 2026 balance sheet shows that the half-year comprehensive loss coincided with other equity moving into a negative Rs 98.12 lakh position. Receivables rose by Rs 99.77 lakh to Rs 17.3887 crore and total liabilities increased by Rs 2.0024 crore, while cash and cash equivalents declined by Rs 75,000 to Rs 1.62 lakh.

The filing leaves the timing and quality of collection of Rs 17.3887 crore in trade receivables unresolved because it provides no ageing or collection schedule. Subsequent financial disclosures can show whether receivables, cash and current liabilities of Rs 24.8744 crore change, and whether further operating losses alter the negative other-equity balance.