S.I. Capital share issuance lifts cash balance to Rs 8.19 crore

S.I. Capital & Financial Services Limited received Rs 7.58 crore against shares issued in the half year ended September 30, 2026, helping lift cash and cash equivalents to Rs 8.19 crore from Rs 18.35 lakh at March 31, 2026. The share-related receipt was the main contributor to the Rs 8.01 crore net increase in cash during the half year.

How much did S.I. Capital receive against shares issued?

S.I. Capital received Rs 7.58 crore as money received against shares issued in the half year ended September 30, 2026, compared with Rs 24.38 lakh in the half year ended September 30, 2025. The company reported the amount within financing cash flows, rather than as operating or investing cash flow.

The share-related receipt was substantially higher than S.I. Capital’s Rs 18.16 lakh profit after tax for the latest six-month period. Net cash generated from financing activities was Rs 7.42 crore, against a net financing cash outflow of Rs 81.67 lakh in the corresponding prior-year half.

The financing result also included Rs 7.60 lakh of proceeds from non-convertible debentures and a Rs 16.30 lakh net reduction in subordinated liabilities. These items, together with the receipt against shares issued, produced the reported financing cash inflow for the half year ended September 30, 2026.

S.I. Capital’s paid-up equity share capital rose to Rs 12.63 crore at September 30, 2026 from Rs 5.05 crore at March 31, 2026. The quarterly financial-results statement also reported paid-up capital of Rs 12.63 crore at September 30, 2026, with each equity share carrying a face value of Rs 10.

What changed in S.I. Capital’s cash position?

S.I. Capital’s cash and cash equivalents increased to Rs 8.19 crore at September 30, 2026 from Rs 18.35 lakh at the beginning of the financial year. The cash-flow statement reported closing cash of Rs 8.19 crore and a net increase of Rs 8.01 crore for the six months.

The balance sheet reported cash and cash equivalents of Rs 8.19 crore at September 30, 2026. Its underlying disclosed amount of Rs 819.33 lakh differs by Rs 1,000 from the Rs 819.34 lakh closing-cash figure in the cash-flow statement.

Operating activities generated Rs 60.27 lakh of cash in the latest half year, compared with an operating cash outflow of Rs 4.26 lakh in the half year ended September 30, 2025. Investing activities used Rs 1.25 lakh, against Rs 2.30 lakh used in the prior-year period, leaving financing activities as the principal source of the overall cash increase.

The improvement in operating cash flow occurred while profit before tax fell to Rs 18.15 lakh from Rs 31.01 lakh a year earlier. Working-capital and loan movements contributed Rs 36.88 lakh in the latest half year, compared with a Rs 41.48 lakh outflow in the corresponding prior-year period, including a Rs 27.71 lakh increase in other financial liabilities and a Rs 3.13 lakh decrease in loans.

How did the funding affect S.I. Capital’s balance sheet?

S.I. Capital’s total assets increased to Rs 22.44 crore at September 30, 2026 from Rs 14.44 crore at March 31, 2026. The increase was led by the Rs 8.01 crore rise in cash, while loans were broadly unchanged at Rs 13.11 crore from Rs 13.15 crore at the March year-end.

Debt securities were nearly unchanged at Rs 7.95 crore at September 30, 2026, compared with Rs 7.95 crore at March 31, 2026. Subordinated liabilities declined to Rs 3.71 lakh from Rs 20.02 lakh, while other financial liabilities rose to Rs 49.53 lakh from Rs 21.82 lakh.

Total liabilities were Rs 8.86 crore at September 30, 2026, compared with Rs 8.62 crore at March 31, 2026. Trade payables owed to creditors other than micro and small enterprises increased to Rs 20.62 lakh from Rs 13.65 lakh, and provisions were Rs 9.51 lakh at the September date.

Other equity was Rs 95.33 lakh at September 30, 2026, compared with Rs 77.18 lakh at March 31, 2026. S.I. Capital separately reported net worth of Rs 13.51 crore for the September 2026 quarter, versus Rs 5.90 crore for the June 2026 quarter, using the Companies Act definition cited in its regulatory disclosure.

Which capital and debt measures changed after the issuance?

S.I. Capital reported a debt-equity ratio of 0.59 at September 30, 2026, down from 1.37 at June 30, 2026. The company defines the ratio as debt securities, borrowings other than debt securities and subordinated liabilities divided by equity share capital plus other equity.

S.I. Capital’s total-debts-to-total-assets ratio was 35.61% at September 30, 2026, compared with 55.22% at June 30, 2026. The company also reported a capital adequacy ratio of 98.35% for the September quarter, against 43.09% for the June quarter, calculated under Reserve Bank of India guidelines.

Asset-quality measures changed over the same quarterly comparison. Stage 3 loan assets as a share of gross loan assets were 3.85% at September 30, 2026, compared with 3.66% at June 30, while net Stage 3 loan assets as a share of gross loan assets increased to 0.51% from 0.33%.

S.I. Capital reported a provision coverage ratio of 86.77% at September 30, 2026, compared with 90.95% at June 30, 2026. The company defines this ratio as expected credit loss provision for Stage 3 loan assets divided by Stage 3 loan assets.

Did S.I. Capital’s operating performance improve in the half year?

S.I. Capital’s total income increased to Rs 2.16 crore in the half year ended September 30, 2026 from Rs 1.78 crore in the corresponding prior-year half, but profit after tax declined to Rs 18.16 lakh from Rs 31 lakh. Total expenses rose to Rs 1.98 crore from Rs 1.47 crore over the same comparison.

Revenue from operations rose to Rs 2.15 crore from Rs 1.76 crore in the prior-year half. Employee-benefit expense increased to Rs 73.84 lakh from Rs 51.72 lakh, fees and commission expense rose to Rs 37.09 lakh from Rs 21.07 lakh, and finance costs increased to Rs 45.31 lakh from Rs 38.57 lakh.

For the September 2026 quarter, S.I. Capital reported profit after tax of Rs 4 lakh, compared with Rs 14.15 lakh in the June 2026 quarter and Rs 10.88 lakh in the September 2025 quarter. Net profit margin was 3.78% in the September quarter, down from 12.88% in the June quarter, while the reported half-year margin was 8.42%.

Basic and diluted earnings per share were Rs 0.05 each for the half year ended September 30, 2026, compared with Rs 0.63 each in the corresponding prior-year half. S.I. Capital’s standalone results cover lending finance, which the company says has no separate reportable segments under Indian Accounting Standard 108 on operating segments.

Conclusion

The September 2026 half-year disclosures show that the Rs 7.58 crore received against shares issued was the defining funding movement in S.I. Capital’s cash flow. It coincided with cash rising to Rs 8.19 crore, paid-up equity share capital reaching Rs 12.63 crore and the reported debt-equity ratio declining to 0.59, while the loan book remained near Rs 13.11 crore.

The filing does not disclose a planned use of the larger cash balance or a future funding target. The next results will show whether S.I. Capital deploys cash into loans, which were Rs 13.11 crore at September 30, 2026, and whether profit and the 3.85% Stage 3 loan-assets ratio change after the capital increase.