Sarthak Global borrowings rise as cash falls to Rs 8.87 lakh

Sarthak Global Limited reported total borrowings of Rs 13.59 crore at September 30, 2026, up from Rs 9.95 crore at March 31, 2026, while cash and cash equivalents declined to Rs 8.87 lakh from Rs 1.08 crore. Current loans rose by Rs 4.77 crore to Rs 14.45 crore over the same period.

How did Sarthak Global’s borrowings change?

Sarthak Global’s total borrowings increased by Rs 3.64 crore between March 31, 2026 and September 30, 2026. Non-current borrowings rose to Rs 12.28 crore from Rs 8.99 crore, while current borrowings increased to Rs 1.31 crore from Rs 96.01 lakh.

The increase was concentrated in non-current borrowings, which accounted for Rs 3.29 crore of the Rs 3.64 crore total increase. Current borrowings added Rs 35 lakh during the six-month period, compared with the much larger rise in liabilities classified as non-current.

The September 30, 2026 balance sheet does not identify lenders, interest rates, security, repayment dates or the use of the borrowings. The filing therefore shows the amount and current or non-current classification of debt, but does not explain the transaction or funding requirement behind the increase.

Why did Sarthak Global’s cash balance fall?

Sarthak Global’s cash and cash equivalents fell by Rs 98.78 lakh to Rs 8.87 lakh at September 30, 2026, from Rs 1.08 crore at March 31, 2026. The cash-flow statement reports a Rs 98.78 lakh decrease in cash and cash equivalents for the reported period.

The investing section of the cash-flow statement includes Rs 4.77 crore of current loans given for the half year ended September 30, 2026. That movement corresponds with the balance sheet, where current loans increased by Rs 4.77 crore to Rs 14.45 crore from Rs 9.68 crore at March 31, 2026.

Inventories were unchanged at Rs 30.65 lakh between March 31, 2026 and September 30, 2026. Trade receivables, however, fell to Rs 95,000 from Rs 18.58 lakh, and cash declined to Rs 8.87 lakh, while the current-loan balance rose materially.

The filing does not provide a separate note explaining the purpose, counterparties or collection terms of the Rs 4.77 crore current loans given. It consequently does not establish when the loans may convert back into cash or whether they carry interest or collateral.

How large are Sarthak Global’s current loans?

Sarthak Global reported current loans of Rs 14.45 crore at September 30, 2026, compared with Rs 9.68 crore at March 31, 2026. The Rs 4.77 crore increase exceeded the Rs 3.64 crore rise in total borrowings over the same comparison.

Current loans made up most of the Rs 14.62 crore in current financial assets at September 30, 2026. The remaining reported current financial assets included cash and cash equivalents of Rs 8.87 lakh, trade receivables of Rs 95,000 and other current financial assets of Rs 6.40 lakh.

At March 31, 2026, current financial assets were Rs 11.01 crore, including loans of Rs 9.68 crore, cash of Rs 1.08 crore and trade receivables of Rs 18.58 lakh. The composition therefore shifted towards loans by September 30, 2026, even as the total current financial asset balance increased by Rs 3.61 crore.

The financial statements do not name the recipients of the Rs 14.45 crore current-loan balance. They also do not disclose contractual rates, security, repayment dates or credit terms, leaving the timing and mechanism of recovery unresolved in this filing.

What changed in Sarthak Global’s balance sheet and results?

Sarthak Global’s total assets rose to Rs 15.22 crore at September 30, 2026 from Rs 11.75 crore at March 31, 2026. Current assets increased to Rs 15.07 crore from Rs 11.62 crore, while non-current assets rose to Rs 14.99 lakh from Rs 13.44 lakh.

Total liabilities increased to Rs 13.63 crore from Rs 10.05 crore, an increase of Rs 3.58 crore. Total equity declined to Rs 1.59 crore from Rs 1.70 crore, as other equity moved to negative Rs 1.41 crore from negative Rs 1.30 crore; equity share capital remained Rs 3 crore.

Current assets exceeded current liabilities by Rs 13.73 crore at September 30, 2026, compared with Rs 10.56 crore at March 31, 2026. This difference reflected the Rs 14.45 crore current-loan balance rather than a higher cash balance, because cash declined by Rs 98.78 lakh over the period.

For the half year ended September 30, 2026, Sarthak Global reported a loss of Rs 10.90 lakh, compared with a profit of Rs 41.33 lakh for the half year ended September 30, 2025. The company reported income from operations of Rs 16.48 lakh for the latest half year, against Rs 91.23 lakh in the corresponding prior-year period.

The company states that it operates in trading of commodities and share transfer agent businesses. Its board approved the unaudited standalone results on November 13, 2026, and the statutory auditor’s limited-review report stated that nothing had come to its attention indicating a material misstatement in the results.

Conclusion

Sarthak Global’s September 2026 financial statements show a balance-sheet expansion led by current loans, alongside higher borrowings and substantially lower cash. Total borrowings rose by Rs 3.64 crore to Rs 13.59 crore, current loans increased by Rs 4.77 crore to Rs 14.45 crore, and cash and cash equivalents declined to Rs 8.87 lakh.

The key unresolved matters in the filing are the counterparties, terms and expected recovery dates for the Rs 14.45 crore current-loan balance, as well as the lender terms and purpose of Rs 12.28 crore in non-current borrowings. The next financial results can show whether cash, loans, borrowings and the half-year loss of Rs 10.90 lakh change further.