Sambhaav Media operating cash outflow quadruples to Rs 3.59 crore

Sambhaav Media Limited reported a standalone operating cash outflow of Rs 3.59 crore for the half year ended September 30, 2026, compared with Rs 88.07 lakh a year earlier. Loans, advances and other assets used Rs 3.96 crore of cash, while standalone cash and cash equivalents fell to Rs 3.58 lakh from Rs 2.95 crore at March 31, 2026.

Why did Sambhaav Media's operating cash outflow increase?

Sambhaav Media's standalone net cash outflow from operating activities rose to Rs 3.59 crore in the half year ended September 30, 2026, from Rs 88.07 lakh in the corresponding 2025 period. The outflow was more than four times the previous year's amount, according to the cash-flow statement prepared using the indirect method under Indian Accounting Standard 7, or Ind AS 7.

Operating profit before working-capital changes was positive at Rs 1.56 crore, but down from Rs 2.95 crore a year earlier. The 2026 figure included depreciation and amortisation of Rs 1.83 crore and interest and finance charges of Rs 54.94 lakh, which were added back to a pre-tax loss of Rs 67.03 lakh in the cash-flow reconciliation.

Working-capital movements turned that positive pre-working-capital figure into cash generated from operations outflow of Rs 4.24 crore, compared with an outflow of Rs 72.47 lakh a year earlier. The filing also lists Rs 64.91 lakh on the income-tax paid or refund received line and reports the final operating outflow of Rs 3.59 crore.

Which working-capital movements used Sambhaav Media's cash?

Loans, advances and other assets were Sambhaav Media's largest stated working-capital cash use, absorbing Rs 3.96 crore during the half year to September 30, 2026. That compared with an inflow of Rs 1.01 crore from the same line in the prior-year half, a reversal of Rs 4.97 crore.

Trade receivables absorbed a further Rs 2.40 crore, although this was less than the Rs 4.69 crore used in the half year ended September 30, 2025. Trade payables used Rs 85.47 lakh, compared with Rs 3.94 lakh a year earlier, while other liabilities supplied Rs 1.33 crore of cash after using Rs 2.67 lakh in the previous period.

Inventories provided Rs 8.29 lakh of cash in the 2026 half year, compared with Rs 6.81 lakh in the prior period. This inventory release only partly offset the combined Rs 6.36 crore outflow reported for loans, advances, other assets and receivables.

How did Sambhaav Media's receivables and current assets change?

Sambhaav Media's standalone trade receivables rose to Rs 15.59 crore at September 30, 2026, from Rs 13.49 crore at March 31, 2026. The Rs 2.10 crore balance-sheet increase aligns with the Rs 2.40 crore cash use classified in the cash-flow statement as changes in trade receivables.

Other current assets increased to Rs 8.29 crore from Rs 4.58 crore over the six months. Standalone loans within current financial assets also rose to Rs 5.70 crore from Rs 5.50 crore, while the cash-flow statement grouped loans, advances and other assets in the Rs 3.96 crore working-capital outflow line.

Not all current assets increased. Inventories declined to Rs 9 lakh at September 30 from Rs 17.28 lakh at March 31, consistent with the Rs 8.29 lakh cash release reported in the cash-flow statement. Bank balances other than cash equivalents increased to Rs 2.94 crore from Rs 2.43 crore and are separately presented in the balance sheet.

What happened to Sambhaav Media's cash, investing flows and borrowings?

Sambhaav Media's standalone cash and cash equivalents fell to Rs 3.58 lakh at September 30, 2026, from Rs 2.95 crore at the start of the financial year. The cash-flow statement recorded a net decrease of Rs 2.92 crore, compared with a Rs 2.50 lakh decrease in the comparable 2025 half year.

Investing activities used Rs 29.57 lakh, against an inflow of Rs 3.44 crore a year earlier. The difference included Rs 2.10 lakh of cash from net loan repayments or loans given in 2026, compared with Rs 3.99 crore in the prior period, alongside Rs 26.71 lakh of fixed-asset purchases and Rs 49.72 lakh invested in fixed deposits with original maturities over three months.

Financing activities supplied Rs 97.19 lakh, reversing a Rs 2.59 crore outflow in the earlier half year. Sambhaav Media recorded Rs 1.74 crore of net borrowing receipts, while standalone current borrowings rose to Rs 2.34 crore at September 30 from Rs 48.73 lakh at March 31; lease payments were Rs 21.97 lakh and interest and finance charges were Rs 55.05 lakh.

How did Sambhaav Media's cash flow compare with operating results?

Sambhaav Media's standalone revenue from operations rose to Rs 18.41 crore in the half year ended September 30, 2026, from Rs 17.15 crore a year earlier. Media and Allied Business revenue increased to Rs 14.27 crore from Rs 13.31 crore, while Technology and Allied Business revenue rose to Rs 4.14 crore from Rs 3.84 crore.

The higher revenue did not prevent a standalone half-year net loss of Rs 73.16 lakh, compared with a loss of Rs 14.55 lakh in the prior-year period. Other expenses rose to Rs 8.99 crore from Rs 6.04 crore, while broadcasting expenses were unchanged at Rs 6.50 crore.

The September 2026 quarter nevertheless reported profit after tax of Rs 27.58 lakh, following a Rs 1.01 crore loss in the June 2026 quarter. The quarterly improvement did not change the half-year operating cash result because the cash-flow statement recorded substantial outflows from working-capital movements over the six months.

Conclusion

Sambhaav Media's half-year results show a divergence between revenue growth and cash conversion. Revenue rose by Rs 1.26 crore to Rs 18.41 crore, but Rs 3.96 crore used in loans, advances and other assets and Rs 2.40 crore absorbed by receivables contributed to a Rs 3.59 crore operating cash outflow.

The next scheduled financial disclosure will show whether receivables of Rs 15.59 crore and other current assets of Rs 8.29 crore reverse into cash. It will also show the effect of current borrowings that rose by Rs 1.85 crore to Rs 2.34 crore between March 31 and September 30, 2026.